Month: May 2020

Elon Musk hikes the price of Tesla’s “self-driving” option by $1,000 and says it will continue to rise. …read more […]

The move is part of a longer-term bet that CEO Ed Bastian highlighted to investors last month: that consumers’ perceptions of safety will be instrumental in reviving more routine travel, and that they will be willing to pay a premium for comfort. Specific details could still change, the people said on condition of anonymity, citing the uncertain timing of a recovery from the coronavirus crisis that has decimated air travel demand. Delta has publicly said that it will limit first class seating capacity at 50% and main cabin at 60% through June 30, and earlier announced that it …read more […]

(Bloomberg) — Nasdaq is set to unveil new rules for initial public offerings including tougher accounting standards that will make it more difficult for some Chinese companies to list on the exchange.Under the new rules, companies from countries, including China, will need to raise at least $25 million in their IPO or alternatively at least a quarter of their post-listing market capitalization, according to Nasdaq filings seen by Bloomberg News. Many IPOs by Chinese firms are smaller than that and are thinly-traded as shares are held by a small group of insiders.“The exchange believes that the proposal to require a …read more […]

(Bloomberg) — Sony Corp. and Microsoft Corp. have partnered to embed artificial intelligence capabilities into the Japanese company’s latest imaging chip, a big boost for a camera product the electronics giant describes as a world-first for commercial customers.The new module’s big advantage is that it has its own processor and memory built in, which allows it to analyze video using AI tech like Microsoft’s Azure, but in a self-contained system that’s faster, simpler and more secure to operate than existing methods.The two companies are appealing to retail and logistics businesses with potential uses like optimizing warehouse and factory automation, quantifying …read more […]

(Bloomberg) — Another early investor of Moderna Inc. is on the cusp of owning a stake worth at least $1 billion after the biotech firm reported encouraging early trial results for an experimental Covid-19 vaccine.The value of board member Bob Langer’s 3.2% holding, including stock options, rose to $934.3 million Monday, as the shares surged 20% to a record $80 each. Langer, a professor at the Massachusetts Institute of Technology, would be at least the third individual with Moderna holdings topping $1 billion, joining Chief Executive Officer Stephane Bancel and Harvard University professor Timothy Springer.Moderna, whose shares have more than …read more […]

(Bloomberg) — Oil’s rally extended to a fourth day as a combination of recovering demand, production cuts and promising test results for a coronavirus vaccine brightened the outlook for energy prices.Futures in New York rose around 4% to past $33 a barrel after closing at the highest level in almost 10 weeks on Monday. The June contract expires Tuesday but a repeat of last month’s plunge below zero is highly unlikely. There were far higher trading volumes in the July contract, which advanced around 3%.Crude got an extra boost on Monday after American biotechnology company Moderna Inc. said its vaccine …read more […]

Is now the time to resume the US-China trade war? Not according to Wedbush analyst Daniel Ives. The 5-star analyst argues a new US Commerce Department directive to halt the shipment of US semiconductors to Chinese tech giant Huawei, represents “a ‘doubling down’ on sanctions against this major Chinese smartphone artery.”In retaliation, according to China’s Global Times, Chinese authorities are considering putting specific US companies, including Apple (AAPL), on an “unreliable entity list,” thereby positioning Apple and its peers in the middle of the renewed trade battle crossfire.Taking a step back, Ives said, “The last thing any already white knuckle …read more […]

Posted by OFX AUD – Australian Dollar The Australian dollar rallied on Monday rising steadily throughout the day, extending beyond 0.65 to touch intraday highs at 0.6527. Souring risk sentiment forced the AUD lower through trade last week as fears of a second wave of infections enveloped markets. That sentiment shifted on … Continue reading “Promise of a vaccine spurs risk on move, driving the AUD back through 0.65″The post Promise of a vaccine spurs risk on move, driving the AUD back through 0.65 appeared first on . …read more […]