Finance

Elon Musk exercises Tesla options for 175000 fresh shares

Elon Musk exercises Tesla options for 175000 fresh shares The company posted a $702 million loss for the quarter. "Even the pro-Tesla propaganda at electrek couldn't help but admit that ".it's also becoming hard to navigate Tesla's price structure because it changes so often". Citing Venkatesh Natarajan, senior vice president and chief digital officer of Ashok Leyland , a Livemint report said that the company is open to Musk's offer. [Full Article...]

Trump admin sending another $16 billion to ailing farmers

Trump admin sending another $16 billion to ailing farmers No high-level talks have been scheduled since the end of two days of discussions in Washington on May 10, the day Trump imposed the higher levies on Chinese goods. Meanwhile, China's Ambassador to the United States Cui Tiankai on Tuesday blamed the United States for the collapse of trade talks . He reiterated the security risk the Trump Administration says is posed by Huawei's technology an... [Full Article...]

Lowe Says RBA Will Consider Case for Lower Rates at June Meeting

Lowe Says RBA Will Consider Case for Lower Rates at June Meeting Markets are nearly certain the Reserve Bank of Australia ( RBA ) will cut its 1.5 per cent cash rate by a quarter point when its policy board meets on June 4, the first easing since mid-2016. Lowe attributed the economic slowdown to a weak household income and spending, however, he said the bank is expecting a "gradual improvement ". On February 21, Westpac forecast that the Reserve Bank would c... [Full Article...]

EE and Vodafone ditch Huawei devices from summer 5G rollout

EE and Vodafone ditch Huawei devices from summer 5G rollout EE will switch on its 5G service in six United Kingdom cities on 30 May, the first mobile network in the United Kingdom to do so. "We are pausing pre-orders for Huawei Mate 20X in the UK". KDDI and SoftBank Corp, Japan's number two and number three carriers respectively, said their decision to delay the release of Huawei handsets was taken to give them time to assess the impact of a USA ban on A... [Full Article...]

Qualcomm shares slide after United States antitrust ruling

Qualcomm shares slide after United States antitrust ruling Judge Koh said Qualcomm engaged in "extensive" anticompetitive conduct targeting more than one dozen original equipment manufacturers including Apple, BlackBerry, Huawei , Lenovo, LG, Motorola, Samsung , and Sony, often by cutting off or threatening to cut off chip supplies or withholding technical support. [Full Article...]

Ethiopia plane crash victim's widow sues Boeing for €247m

Ethiopia plane crash victim's widow sues Boeing for €247m Boeing has not yet formally submitted its proposals to the FAA. China was among the first governments to order carriers to suspend use of the 737 Max in March following crashes in Indonesia and Ethiopia that killed a total of 346 people. [Full Article...]

Huawei Mate 20 Pro quietly disappears from Android Q Beta page

Huawei Mate 20 Pro quietly disappears from Android Q Beta page The Commerce Department has issued a Temporary General License (TGL) to allow Huawei and its 68 non-U.S. subsidiaries to continue "certain activities necessary to the continued operations of existing networks and to support existing mobile services, including cybersecurity research critical to maintaining the integrity and reliability of existing and fully operational networks and equipment". [Full Article...]

Self-driving trucks will carry mail in U.S.

Self-driving trucks will carry mail in U.S. He said the pilot marks the first time a USA government agency fleet has publicly announced road tests with a Level Four autonomous system - vehicles that can navigate without human intervention under most conditions. The company will swap out its drivers at stopping points to comply with hours-of-service limits. "This run is really in the sweet spot of how we believe autonomous trucks will be... [Full Article...]

British telecoms giant EE says to launch 5G without Huawei

KDDI and SoftBank said they made the decision as it remains unclear whether U.S. technology giant Google LLC will continue providing services, including its Android operating system, to the Chinese smartphone-maker following the declaration of a national emergency over technology threats by U.S. [Full Article...]

ARM has reportedly suspended business with Huawei, jeopardizing future Kirin chips

ARM has reportedly suspended business with Huawei, jeopardizing future Kirin chips The BBC reported earlier on Wednesday that ARM, which is owned by Japan's Softbank, had instructed employees to halt " all active contracts, support entitlements, and any pending engagements " with Huawei after the United States added Huawei to a list of companies with which us firms could not do business. [Full Article...]

Ryanair reports drop in profits to £890m but traffic up by 7%

Ryanair reports drop in profits to £890m but traffic up by 7% A company poll of analysts published ahead of the release had forecast a figure of 977 million euros. Davy Stockbrokers said it would cut its forecast by 9 per cent but believed that the "nadir point" had likely been reached. O'Leary said he was "reasonably confident" it would have around 50 MAX aircraft flying next summer. It came as the London-listed company reported revenue of £23.8 million f... [Full Article...]

Japan's economy expands for 2nd straight quarter

Japan's economy expands for 2nd straight quarter Japan's unexpected growth spurt in the first quarter masked weakness in the economy just as policy makers prepare to hike the sales tax in October. Background: The ongoing trade war between China and the United States, weak global demand, and USA threats to impose auto tariffs have been dragging on Japan's economy. [Full Article...]

Huawei denied Honorable use of Android

Huawei denied Honorable use of Android The news means Huawei will no longer have access to Android updates, and will only be able to use what's open-sourced and public. A temporary easing of the restrictions against Huawei is likely to reduce the possibility of China's retaliation by directly targeting U.S. [Full Article...]

Huawei OS reportedly 'far from ready' after Android ban

Huawei OS reportedly 'far from ready' after Android ban The Commerce Department said it gave the grace period to give USA companies time to adjust and prepare to cut out Huawei. Huawei is already working closely with Google to work on a solution. Huawei is on the receiving end of a US government accusation that it engaged in bank fraud to obtain embargoed USA goods and services in Iran and move money via the worldwide banking system. [Full Article...]

The US has eased the Huawei ban for 90 days

The US has eased the Huawei ban for 90 days Ren Zhengfei said that "the U.S. government's actions at the moment underestimate our capabilities", according to Chinese media outlets. The move comes after the Trump administration put a ban on U.S. Without full access to Android and popular Google services, Huawei - which has launched its products at glitzy ceremonies in major markets around the world - could find it hard to convince cu... [Full Article...]

Coca-Cola is bringing back New Coke in honor of ‘Stranger Things’

Cans will carry special Stranger Things promotional designs, and the company has even remade its original New Coke ad to add a Stranger Things twist. The company will sell a small batch of " Stranger Things "-branded glass bottles on its website, giving buyers a gift of two cans of New Coke when they buy two bottles". [Full Article...]

Dressbarn closing all 650 stores, ceasing operations

Dressbarn closing all 650 stores, ceasing operations Dressbarn , the women's clothing chain that's been around for almost 60 years, is closing all 650 of its stores. There are eight Dressbarns in the Denver metro area, with stores in Westminster, Northglenn, Littleton, Centennial, Parker, Castle Rock and Aurora (two locations). [Full Article...]

One victor of €6.2m Lotto jackpot

One victor of €6.2m Lotto jackpot Last night's €6,197,310 Lotto jackpot was won in Co Louth, the National Lottery has confirmed. The prize is now at an estimated $27 million and the winning numbers will be drawn on Tuesday (May 21). This is the second time that someone in the Wee County hit the Lotto jackpot this year. The victor is being advised to sign the back of their ticket, keep it safe and contact the National Lotte... [Full Article...]

Jamie Oliver issues emotional statement as restaurant chain collapses

Jamie Oliver issues emotional statement as restaurant chain collapses Jamie Oliver has said he's "deeply saddened" after his restaurant chain has collapsed into administration. The move comes after the restaurant group closed 12 of its 37 Jamie's Italian branches at the beginning of past year and shuttered six in 2017. [Full Article...]

Jaguar Land Rover suffers £3.6bn loss amid sinking sales

Jaguar Land Rover suffers £3.6bn loss amid sinking sales The luxury auto manufacturer, which announced 4,500 job cuts earlier this year, was heavily dragged down by a £3.3 billion writedown in the third quarter. Meanwhile in other motor news, Ford announced today it was cutting 7,000 jobs . The total revenue from operation increased to Rs 3.01 lakh crore during the financial year 2018-19, as compared to Rs 2.92 lakh crore during the previous fiscal... [Full Article...]


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