Business & Finance News
Tesla Inc said on Wednesday that it would raise capital from Asian debt markets to fund the construction of its third “Gigafactory,” which will be located in Shanghai and cost an approximate $2 billion.
T-Mobile US Inc on Wednesday said it added far more wireless subscribers than Wall Street had expected, as the third-largest U.S. wireless carrier invests in its network while awaiting regulatory approval to buy rival Sprint Corp .
Amazon.com Inc and other retail and logistics companies said on Wednesday they had started a new group to lobby to keep the U.S. Postal Service’s (USPS) package delivery services “reliable and affordable.”
Tesla said it would produce its new Model 3 sedan at a profit after several recent weeks in which output stabilized, buoying hopes that the electric vehicle maker led by Elon Musk will stanch its financial losses in the second half of the year.
U.S. President Donald Trump sought to ratchet up pressure on China for trade concessions by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports, his administration said on Wednesday.
Tesla said it would build up to 55,000 Model 3s in the current quarter at a positive gross margin, buoying hopes that the electric vehicle maker led by Elon Musk will meet its goal of profitability and positive cash flow in 2018, as it strives to recover from manufacturing challenges.
U.S. President Donald Trump’s administration is proposing a tariff rate increase on $200 billion worth of Chinese goods to 25 percent from 10 percent as the two countries continue conversations to determine whether trade talks can be resumed, senior Trump administration officials said on Wednesday.
The S&P 500 and Dow slipped on Wednesday as gains in Apple shares were offset by a drop in energy and industrial companies, while the U.S. Federal Reserve remained on course for an expected interest rate hike in September.
Tesla Inc said on Wednesday it expects to increase Model 3 production to 6,000 per week by late August, buoying expectations that the Elon Musk-led electric vehicle maker will meet its goal of profitability and positive cash flow in the next two quarters.
T-Mobile US Inc on Wednesday said it added more wireless subscribers than Wall Street had expected, as the third-largest U.S. wireless carrier gained customers, helped by its lower prices.
Wefox, one of Europe’s fastest-growing insurance technology firms, is close to settling on a new “triple-digit million” euro funding round, with Softbank’s Vision Fund among the suitors, three sources familiar with the negotiations said.
Billionaire investor Carl Icahn has a sizable stake in health insurer Cigna and plans to vote against its planned $52 billion acquisition of pharmacy benefits manager Express Scripts , the Wall Street Journal reported https://www.wsj.com/articles/carl-icahn-has-sizable-stake-in-cigna-plans-to-vote-against-express-scripts-deal-1533150217 on Wednesday.
Stocks fell worldwide on Wednesday amid fears of an escalation of the trade war between the United States and China although robust results from Apple Inc helped cap losses.
The S&P 500 and the Dow edged lower but technology stocks buoyed the Nasdaq on Wednesday after the Federal Reserve held interest rates steady but remained on course for an expected hike in September.
Apple is close to becoming the first publicly listed U.S. company valued at $1 trillion, but figuring out exactly how close requires doing a little math.
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