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Tesla deliveries miss Wall Street target; shares fall 6%

October 2, 2019 admin Comments Off on Tesla deliveries miss Wall Street target; shares fall 6%

Deliveries of all models rose 1.9% from the second quarter to 97,000 vehicles, including 79,600 Model 3 sedans and 17,400 Model S/X SUVs, below estimates of 97,477 vehicles. Elon Musk had previously said that Tesla aims to be profitable in the fourth quarter, with the third quarter to be break-even. Under pressure to meet his repeated promises to make Tesla sustainably profitable, Chief Executive Elon Musk is trying to contain costs while still spending on major initiatives from a Shanghai factory and assembly-line to upcoming models such as the Model Y SUV and a Semi commercial truck. …read more […]

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Ford Investors Will Have To Be Tough When It Comes to Their Dividend

October 2, 2019 admin Comments Off on Ford Investors Will Have To Be Tough When It Comes to Their Dividend

I covered Ford Motor Company (NYSE: F) in this column a year ago. At the time, the automaker got a “D” for dividend safety because of falling cash flow and a payout ratio that was too high.
We’re in the same situation today, though now things appear a little worse.
Ford is going through a reorganization as it invests a lot of money into electric vehicles (EVs).
Ford plans to invest $11 billion in developing EV technology. It may ultimately pay off as EVs become more popular.
The company has also already invested $1 billion into autonomous driving car technology and is likely to …read more […]

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Business News

U.S. to hit EU with tariffs of 10% on aircraft, 25% on other goods: official

October 2, 2019 admin Comments Off on U.S. to hit EU with tariffs of 10% on aircraft, 25% on other goods: official

The United States will impose 10% tariffs on aircraft and 25% on other industrial and agricultural products from the European Union as part of a World Trade Organization penalty award in a long-running aircraft subsidy case, an official with the U.S. Trade Representative’s office said on Wednesday.

…read more […]

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Tesla’s Summon-Your-Car Feature Spurs U.S. to Ask About Safety

October 2, 2019 admin Comments Off on Tesla’s Summon-Your-Car Feature Spurs U.S. to Ask About Safety

(Bloomberg) — The top U.S. road-safety regulator is gathering information about a Tesla Inc. feature that allows customers to remotely call for their car to pick them up.The National Highway Traffic Safety Administration is aware of reports related to Summon, a feature the electric-car maker made available last week, and is in ongoing contact with the company, according to an emailed statement. The agency said it “will not hesitate to act” if it finds evidence of a safety-related defect.Tesla drivers have posted videos on social media trying out Summon, which enables owners to use their smartphone to remotely direct their …read more […]

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Apple CEO Cook opposes Trump, backs “dreamer” immigrants in Supreme Court

October 2, 2019 admin Comments Off on Apple CEO Cook opposes Trump, backs “dreamer” immigrants in Supreme Court

Apple Inc CEO Tim Cook on Wednesday filed a brief at the U.S. Supreme Court opposing President Donald Trump’s effort to end a program that protects from deportation hundreds of thousands of immigrants who were brought into the United States illegally as children. The brief was filed on behalf of the company and Cook as an individual as well as Deirdre O’Brien, Apple’s senior vice president of retail and people. The company said it has 443 employees who have benefited from the program, which was implemented in 2012 by the Republican Trump’s Democratic predecessor Barack Obama. …read more […]