U.S. electric car maker Tesla cut the starting price of its Chinese-made Model 3 sedans on Thursday by about 8% to 249,900 yuan ($36,805), once Chinese subsidies for electric vehicles are taken into account, according to its China website. Previously, the starting price for Model 3 sedans made in Tesla’s Shanghai factory with a standard driving range was 271,550 yuan, after state purchase subsidies. …read more […]
(Bloomberg) — Bayer AG slumped after the agriculture and pharma giant said it would have to slash costs as the pandemic’s impact on farm commodities extends into next year, further undermining the rationale for its $63 billion purchase of Monsanto Co.The stock fell as much as 13% in German trading. Bayer, already reeling from a legal battle over its herbicide Roundup, late Wednesday said it would cut 1.5 billion euros ($1.8 billion) of annual costs and may also eliminate jobs and sell businesses.Chief Executive Officer Werner Baumann is confronting multiple challenges after getting his contract extended earlier this month. Besides …read more […]
After weeks of speculation, the plane engine maker will tap investors for money and issue new bonds. …read more […]
(Bloomberg Opinion) — Here’s one potential reason to add some bullion coins or bars to your investment portfolio: They’re not making any more of them.All the gold that’s ever been mined would fit into a cube with edges 22 meters long — small enough to fit into three Olympic-sized swimming pools. Each year, miners and pawnbrokers add another 4,000 to 5,000 metric tons to an existing 197,576 ton pile, but jewelry demand alone uses up about half of that.With the metal hitting a record $2,075 a troy ounce in August, the concern we’re heading toward peak gold has reared its …read more […]
U.S. electric car maker Tesla cut the starting price of its Chinese-made Model 3 sedans on Thursday by about 8% to 249,900 yuan ($36,805), once Chinese subsidies for electric vehicles are taken into account, according to its China website. Previously, the starting price for Model 3 sedans made in Tesla’s Shanghai factory with a standard driving range was 271,550 yuan, after state purchase subsidies. Tesla did not disclose what batteries the cheaper version uses. …read more […]
“This is the confirmation that end demand in automotive, microcontrollers and specific programs with Apple are strong enough to more than compensate for the Huawei headwind,” said Stephane Houri, head of equity sector research at Oddo BHF. The French-Italian chipmaker is set to report its final third-quarter earnings and fourth-quarter guidance on October 22. …read more […]
American Airlines Group Inc (NASDAQ: AAL) said in a letter to employees Wednesday that 19,000 will be furloughed starting Thursday after the federal Payroll Support Program expires.Airline Layoffs Underway As Stimulus Talks Continue: Talks on extending the relief program under the Coronovirus Aid, Relief and Economic Security — CARES — Act are ongoing between the White House and House Speaker Nancy Pelosi, American Airlines CEO Doug Parker said in the letter, citing a conversation with Treasury Secretary Steven Mnuchin. The Senate and the House of Representatives are also deliberating the extension of payroll support an alternative to the broader relief …read more […]
Stéphane Bancel told FT that he did not expect to have full approval to distribute the drug to all sections of the U.S. population until next spring. Moderna did not immediately respond to Reuters request for comment. Moderna will not be ready to seek emergency use authorization from the Food and Drug Administration before Nov. 25 at the earliest, the report said, citing Bancel. …read more […]
AstraZeneca Plc’s (NYSE: AZN) coronavirus vaccine development program could hit by further delays, as the Food and Drug Administration has widened the scope of its probe into the halted trial, Reuters reported Wednesday.What Happened: The federal agency is inquiring whether side effects similar to the one seen in the COVID-19 vaccine trial — transverse myelitis — also emerged in trials of other vaccines designed by Oxford University, AstraZeneca’s partner, Reuters said, citing people familiar with the matter. The vaccines reportedly under review use a modified adenovirus as a vector and target illnesses such as the Middle East Respiratory Syndrome and …read more […]
It is a busy day ahead. Economic data and geopolitics will keep the markets busy. …read more […]
VANCOUVER, BC, Sept. 30, 2020 /CNW/ – Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced that the Company hosted a virtual “Investor and Analyst Day 2020” event on September 29th. …read more […]
Shares of Memory chip specialist Micron (MU) trended downwards on Wednesday following the release of the company’s FQ4 results.Micron reported revenue of $6.06 billion, a 24% year-over-year increase and coming in ahead of the estimates by $170 million. Non-GAAP (adjusted) net profit almost doubled from the same quarter last year to clock in just under $1.23 billion, resulting in Non-GAAP EPS of $1.08, above consensus estimates by $0.11.So far, so good. What investors did not like, however, was Micron’s forecast of what’s to come next. For the November quarter, Micron anticipates revenue of $5.2 billion, just under consensus calls for …read more […]
As investors pile into safe havens like cash and precious metals, a new gold rush is starting in one of the world’s most exciting mining hotspots …read more […]
A green light from the FDA can change everything for a healthcare company. This might just be the case for Eton Pharmaceuticals (ETON).On September 29, the company announced that the FDA had given Alkindi Sprinkle, its taste-neutral sprinkle (granule) formulation of hydrocortisone designed as a replacement therapy for pediatric adrenal insufficiency (AI), its stamp of approval.The verdict came on the previously scheduled PDUFA date. Additionally, six clinical studies, including the first and only interventional Phase 3 study of oral hydrocortisone for pediatric AI in neonates to children under eight years of age, served as the basis for the approval. …read more […]
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