Finance

Elon Musk hints that Q2 Model 3 deliveries will prove detractors wrong

Elon Musk hints that Q2 Model 3 deliveries will prove detractors wrong Shares of Tesla fell more than 1% Friday, the morning after employees told Reuters that Model 3 production was lagging. Tesla is also struggling to meet its expected Model 3 production rate of 5,000 units a week. Billionaire tech mogul and Tesla chief Elon Musk released new details about the long-awaited vehicle in a series of tweets late Sunday. Hollow Model 3 body frames are transporte... [Full Article...]

Economic growth measures nudged higher for start of 2018

It follows the Beast from the East hitting British shores in March, while consumers are also being squeezed due to inflation caused by a weak pound. Despite the better news for the economy, as Theresa May met her European counterparts on Friday in Brussels to discuss Britain's exit from the EU, the ONS said household consumption remained subdued and business investment fell in the first quarte... [Full Article...]

CO2 shortage to hit weekend barbecues

CO2 shortage to hit weekend barbecues The gas has multiple uses in the food industry from aiding in the stunning animals process in slaughterhouses to retailers and manufacturers using it to chill or extend the shelf life of foods. So production at their sites in Burnley and Enfield has been put on hold. "We are now working hard with our suppliers to minimise the impact for our customers". [Full Article...]

Enbridge Line 3 pipeline approval expected to ease Canadian oil price woes

Enbridge Line 3 pipeline approval expected to ease Canadian oil price woes Enbridge Chief Executive Al Monaco said in a statement that he was pleased with the commission's decisions, and said the project's cost was materially unchanged. Enbridge shares gained during Thursday's meeting as members of the commission spoke favorably about the project, citing the need to replace the current Line 3, which was originally installed in the 1960s. [Full Article...]

Trump Asks Saudi Arabia to Increase Oil Production

Trump Asks Saudi Arabia to Increase Oil Production Saudi Arabia now produces some 10 million barrels of crude oil each day. Saudi Arabia's official government press agency gave a more ambiguous description of the king's discussion with Trump. The increase was described as "nominal" by Saudi Energy Minister Khalid Al Falih. Gen. Mohammed Barkindo (R) and Angola's Governor for OPEC and Chairman of the Board of Governors Estevao Pedro (2nd L) at th... [Full Article...]

Xiaomi seeks to raise up to $6 billion in Hong Kong IPO

Xiaomi seeks to raise up to $6 billion in Hong Kong IPO This has been the world's biggest tech float in the last four years since Alibaba Group Holding Ltd raised United States dollars 25 billion in NY in 2014. One takeaway from the placement is that the market valued Xiaomi as much more of a low-margin hardware shifter, than an "innovation-driven internet company" (in its own words) like Alibaba . [Full Article...]

Trump Says Saudi Arabia Will Increase Oil Production at His Request

Trump Says Saudi Arabia Will Increase Oil Production at His Request The higher gas prices are a serious GOP concern as the midterm elections approach. The Trump administration is pushing other countries to cut all imports of Iranian oil, while it slapped further trade sanctions on Venezuela last month. Trump's aim may be to exert maximum pressure on Iran while at the same time not upsetting potential USA midterm voters with higher gas prices, said Antoine Half... [Full Article...]

Hundreds of Homebase jobs under threat across the UK

Hundreds of Homebase jobs under threat across the UK Sources told the Press Association that restructuring experts at Alvarez and Marsall are being scouted by Homebase for the CVA, but that other options are also being considered. Homebase has been sold by its Australian owner Wesfarmers to retail restructuring firm Hilco. Wesfarmers had tried to bring Bunnings, which has been a success in Australia, to the United Kingdom home improvement market a... [Full Article...]

Adidas says certain customers may have been impacted by data breach

Adidas says certain customers may have been impacted by data breach Thankfully, it looks as though payment information including credit card details, and health data were not accessed. The Adidas data breach investigation is still ongoing, but the company points out that it does know which of its customers are affected by it. [Full Article...]

Florida company may have exposed personal data of every American adult

Florida company may have exposed personal data of every American adult Aside from phone numbers and addresses, the database also holds the records about 400 characteristics exhibited by a person like vices, religion, pet ownership, gender, number of kids, age, and many others. Exactis , which has yet to issue a statement on the apparent breach, reportedly employs just 10 people. He claims the database was easy to find, but after contacting Exactis and the Federal B... [Full Article...]

Restaurant manager fired for refusing service to man in MAGA hat

Restaurant manager fired for refusing service to man in MAGA hat The Sequoia Company, which runs the restaurant, says Hodge was sacked for not following its "philosophy of tolerance". Many voiced support for the manager, and slammed the restaurant for his firing. According to CBC News, it all happened a popular tourist spot called the Teahouse in Stanley Park. But the company said he is expected to follow and promote the company's "philosophy of tolerance and... [Full Article...]

Trump says Saudi Arabia has agreed to increase oil production

Trump says Saudi Arabia has agreed to increase oil production Saudi Arabia acknowledged in a statement published Saturday on the state-run Saudi Press Agency that King Salman had received a telephone call from Trump and that the two discussed the need to make efforts to " maintain the stability of oil markets ". [Full Article...]

India plans to cut oil imports from Iran?, say officials

India plans to cut oil imports from Iran?, say officials Oil prices climbed Thursday, with the US benchmark holding ground at its highest levels since 2014 in the wake of the biggest weekly decline of the year for domestic crude supplies. "A number of people will be revising higher their assumptions for the loss of Iranian barrels", Harry Tchilinguirian, strategist at French bank BNP Paribas, told Reuters Global Oil Forum. [Full Article...]

Elon Musk & Lisa Prank Fight Over Farting Unicorn Drawing

Elon Musk & Lisa Prank Fight Over Farting Unicorn Drawing The picture was accompanied by the words "Electric cars good for the environment because electricity is magic", writes the BBC. The remark drew a response from Ford Vice President of Communications Mark Truby, who jabbed Musk over Tesla's use of a large outdoor tent that houses a Model 3 assembly line. [Full Article...]

Canada to aid steel, aluminum industries hit by US tariffs

Canada to aid steel, aluminum industries hit by US tariffs Canadians are particularly anxious about auto tariffs because the industry is critical to Canada's economy. President Donald Trump, who directed his administration to investigate whether auto imports weaken national security, has threatened to slap European vehicle imports with a 20% tariff. [Full Article...]

Trump claims Saudi Arabia will boost oil production

Experts say disruption to crude oil supplies from Iran as a result of United States sanctions may push oil prices to as high as $90 a barrel. Saudi Arabia now produces some 10 million barrels of crude oil a day. "These higher oil prices are translating directly to soaring gas prices, something we know hurts middle- and lower-income people". Prices have also risen given ongoing unrest in Venezuel... [Full Article...]

Iraq to work with OPEC to keep oil prices stable: PM

Iraq to work with OPEC to keep oil prices stable: PM A decision by OPEC and non-OPEC to boost crude production by around 1 million barrels per day (mbpd) last week is an attempt to correct the oil market, an expert told Anadolu Agency on Tuesday. News that the U.S.is pushing for countries to cut Iran oil imports to zero by November, uncertainty surrounding Libya output and doubts over OPEC's ability to lift output quickly enough to avoid a short... [Full Article...]

Toys R Us closing its last stores

Toys R Us closing its last stores Toys "R" Us filed for Chapter 11 bankruptcy protection in September hoping to restructure some $5 billion in debt, much of which stemmed from a $6.6 billion leveraged buyout by private equity firms in 2005. She's also posted several other photos of the empty store, including one that shows a sign with a cartoon version of Geoffrey painting the words: 'I guess everyone has grown up. [Full Article...]

China eager to defuse trade pressures

China eager to defuse trade pressures Its emerging market index hit its weakest level since mid-August. As has been the case for well over a week, the Chinese yuan was also in the wars, falling to a fresh year-to-date low against the U.S. "People have long thought the US economy will eventually hit a recession at some point". Confusion remained the watchword with U.S. trade policy. [Full Article...]

GM, Toyota among manufacturers who oppose Trump’s call for auto tariffs

Mr Trump asked the department to determine the effect of imports of cars and auto parts on national security. General Motors, the country's biggest automaker with about 110,000 USA employees, warned the Trump administration's tariffs threaten to undermine its competitiveness and could lead to "a smaller GM". [Full Article...]


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