Finance

Chase Bank deletes #MondayMotivation tweet following backlash

Chase Bank deletes #MondayMotivation tweet following backlash On 29 April 2019, Chase Bank generated a spate of online anger by posting a tweet advising people to cut back on eating out and buying coffee to avoid low account balances. It's not Porter's first public squabble with the bank. After taking down its tweet, the bank issued a follow-up statement. Chase deleted the tweet soon after the backlash began and replaced it with a pseudo-apology, sayi... [Full Article...]

Tesla seeks up to $2.3 billion from share, debt issues

Tesla seeks up to $2.3 billion from share, debt issues Electric cars are seen at Tesla charging station in Gulsvik, Norway March 17, 2019. And the company has plenty of uses for extra cash, with several new vehicles-including the Model Y SUV, Tesla Semi, and the new Tesla Roadster-slated to begin production before the end of 2020. [Full Article...]

Qualcomm to receive at least $4.5 billion from Apple in patent fees

Qualcomm to receive at least $4.5 billion from Apple in patent fees Since the settlement, Qualcomm's share price has risen by 43%, and Apple's has also risen by more than 5%. Until now, all we knew was that the settlement included an unspecified payment from Apple to Qualcomm , alongside a multiyear chipset supply agreement that will see the chipmaker's modems once again appear in the iPhone; when the legal drama began back in 2017, Apple dropped Qualcom... [Full Article...]

Google’s parent company, Alphabet, makes over $36 billion in Q1 2019

Google’s parent company, Alphabet, makes over $36 billion in Q1 2019 In terms of mobile ads this year, Google's bounty should hit 35.4 per cent of the $231.12bn global total. Wedbush Securities Inc analyst Dan Ives asked. "People are wondering if we're going to see a little bit more stimulus come out of China just on that weaker data point on", she said. DENTED FENDER: General Motors fell 2.4% after reporting a surprise drop in sales during the first quarter. [Full Article...]

Tesla, CA DMV hit with lawsuit over fatal Autopilot crash

Tesla, CA DMV hit with lawsuit over fatal Autopilot crash Route 101 in California is suing the electric vehicle maker, alleging wrongful death and negligence stemming from failures and false promises regarding the Autopilot driver-assistance system. Tesla, which did not immediately respond to a request for comment, has previously defended its technology, noting that Huang's hands were not detected on the wheel just before the crash. [Full Article...]

Berkshire Hathaway to invest $10b in Occidental Petroleum for Anadarko takeover

Berkshire Hathaway to invest $10b in Occidental Petroleum for Anadarko takeover On April 29, 2019, Anadarko announced that its Board of Directors had determined that the proposal from Occidental could reasonably be expected to result in a Superior Proposal under its existing merger agreement and that it would engage with Occidental. [Full Article...]

China's Manufacturing Activity Slows In April

China's Manufacturing Activity Slows In April The Purchasing Managers' Index (PMI), a key gauge of factory conditions, came in at 50.1 for the month, down from 50.5 in March, the National Bureau of Statistics said. The tertiary industry accounted for 57.3 percent of GDP in the first quarter, up 0.6 percentage points from a year ago. Investors now await a raft of economic data from the euro zone and will also focus on the commencement of the... [Full Article...]

UAE- Opec may extend output cuts

UAE- Opec may extend output cuts The Saudis face a tricky task to balance the market and help revive their economy while fielding U.S. President Donald Trump's public jibes to accelerate output and help lower gasoline prices. "Recent comments from (Saudi Energy Minister Khalid) al-Falih confirm our view that the kingdom will respond cautiously with other oil producers and not pre-emptively ramp up production", said Giovanni Sta... [Full Article...]

Amazon will deliver packages to the trunk of your Ford or Lincoln

Amazon will deliver packages to the trunk of your Ford or Lincoln Instead of Amazon packages lingering by your front stoop just begging to be snatched, you can give Amazon delivery folks access to your vehicle for a safer storage spot until you can pick up the delivery. You'll also have to be an Amazon Prime member. From there, the app will need to be linked to the owner's Amazon Prime account, which will enable the in-car delivery service. [Full Article...]

Eric Schmidt to Step Down From Alphabet’s Board

Eric Schmidt to Step Down From Alphabet’s Board The 64-year-old billionaire was Google's chief executive officer between 2001 and 2011 and as executive chairman until 2018. Eric Schmidt has been a member of the Board since March 2001, and in addition to that, he also served as Google's CEO between July 2001 and April 2011. [Full Article...]

Conservatives Rally Around Stephen Moore After 3.2% GDP Growth Report

Conservatives Rally Around Stephen Moore After 3.2% GDP Growth Report There are now two vacancies on the seven-member Fed board, and nominations have to be approved by the Senate. Democratic Senators have criticized Moore for his policy positions, including his longtime support of tax cuts to stimulate the economy, as well as his comments about women. [Full Article...]

JLR to build new Land Rover Defender in Slovakia

JLR to build new Land Rover Defender in Slovakia Jaguar Land Rover has today continued its process of shifting vehicle production away from Britain, by announcing it will build the next generation of the Land Rover Defender at its Slovakia plant. It is understood that the new Defender will copy its predecessor with short (90-inch) and long (110-inch) wheelbases and will be the basis for a range of vehicles with different specialties. [Full Article...]

Vodafone Confirms It Found Security Vulnerabilities in Huawei Equipment

Vodafone Confirms It Found Security Vulnerabilities in Huawei Equipment Bloomberg also says the backdoors existed in Vodafone's networks in the U.K., Germany, Spain, and Portugal and that despite Vodafone knowing about the backdoors, the company continued to use the compromised equipment because the cost to remove it would have been prohibitive and Huawei's equipment was cheaper than the competition. [Full Article...]

Oil Prices Remain Under Pressure

Oil Prices Remain Under Pressure Pompeo said the United States had worked to find alternative oil supplies to ensure the global oil market is well stocked as oil purchases from Iran are cut. "We will look at (global oil) inventories - are they higher or lower than the normal level and we will adjust the production level accordingly. I am eager to say that there will be some kind of agreement", Falih told RIA. [Full Article...]

Firefight reported between Guaido supporters and Maduro supporters

Firefight reported between Guaido supporters and Maduro supporters At the same time, numerous originally deployed soldiers withdrew from the scene, later revealing that they had been "deceived" by their superiors. Simultaneously, Chavista leaders took to state and social media to denounce what they termed a coup in progress, and large crowds gathered to defend Miraflores Presidential Palace. [Full Article...]

Chase Bank’s attempt at a ‘Monday Motivation’ tweet fails spectacularly

Chase tried to save face on Monday after posting a mocking #MondayMotivation tweet in an apparent attempt to be " relatable ". Customers continued to slam the company on Twitter after the response from Chase. "Thanks for the feedback Twitter world". Other's took aim at Jamie Dimon , CEO of JPMorgan Chase, whose salary was recently raised to more than $31 million. [Full Article...]

Trump to Fed: Slash Rates Now

Trump to Fed: Slash Rates Now The fed indicated in March it's done raising interest rates for the year. "We have the potential to go". 'Yes, we are doing very well at 3.2% GDP, but with our wonderfully low inflation, we could be setting major records &, at the same time , make our National Debt start to look small!,' he added. [Full Article...]

Apple's iPhone sales fall 17% in first quarter as flagship product struggles

Apple's iPhone sales fall 17% in first quarter as flagship product struggles Explaining the rationale behind this decision - which was first announced last November - Apple's Luca Maestri during an earnings conference call a year ago explained that the "number of units sold in a quarter is not representative of underlying state of business". [Full Article...]

Brent crude tops $73 a barrel on Venezuela turmoil

Brent crude tops $73 a barrel on Venezuela turmoil Trump described the conversations in a tweet on Friday in which he also said a California tax on gasoline is causing "big problems on pricing for that state". USA sanctions on Venezuela are also working to tighten global supply as fighting in Libya is curbing output there, too. Venezuela was once a top-three OPEC producer. [Full Article...]

Jaguar Land Rover Drives IOTA Up

Jaguar Land Rover Drives IOTA Up In an official blog post , an IOTA spokesperson said Jaguar Land Rover was actively trialing a new smart wallet initiative, which will use their distributed ledger. To that end, the shared data would help to eliminate congestion and idle emissions by informing sat nav systems about areas to avoid, and also by using your auto as a kind of giant credit card as you pass through toll gates. [Full Article...]


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