Business

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

Tesla seeks up to $2.3-billion from share, debt issues For over a year, Musk had insisted that the money-losing Silicon Valley automaker had no need for a capital raise, saying that high Model 3 volume and efficiency would push the company to profit in all quarters of 2019. Bond markets have reflected growing worries about Tesla's prospects in recent months. Still, having only $2.2 billion in the bank is a precarious situation for a company that h... [Full Article...]

Apple's fiscal 2Q revenue, profit sag amid iPhone slump

Apple's fiscal 2Q revenue, profit sag amid iPhone slump Cook specifically calls out the company's "strongest iPad growth in six years". It is clear that Apple's performance has been dented by slowing sales of its iPhone products, which remains the firm's principle money maker. But the company will have to exercise caution as it builds the services business. Apple also said its board had authorized an additional $75 billion in share repurchases and ... [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 That's a nice increase from the $26.6 billion from the same quarter previous year. "But this is not a major impact to Google's ad revenue growth at this time", she said. Google reported $5.4 billion in "other" revenue, which includes cloud, hardware and Play store purchases. And Google's costs could jump further if governments globally follow through on growing threats to rein in the ability of ... [Full Article...]

Land Rover Defender teased in revealing new picture

Land Rover Defender teased in revealing new picture Land Rover announced this week that its fleet of prototype Defenders has driven 1.2 million kilometers (about 745,000 miles) over the course of its development testing. Jaguar Land Rover will invest a total $1.5 billion in the Slovakian plant and employ around 2,800 people directly. Land Rover remains tight on details but the new Defender is expected to be the first model to ride on a newly ... [Full Article...]

Prices Weaken After API Reports Surprise Build, EIA on Tap

Prices Weaken After API Reports Surprise Build, EIA on Tap Markets also keenly watched Venezuela, where opposition leader Juan Guaido called for an uprising against President Nicolas Maduro. "The possibility that Guaido will take control of the situation isn't as strong as perceived this morning", said Bob Yawger, director of energy futures at Mizuho in NY. [Full Article...]

OPEC oil output hits four-year low in April on Iran, Venezuela

OPEC oil output hits four-year low in April on Iran, Venezuela Brent crude futures settled at $72.15 a barrel, down $2.20, on Friday after U.S. President Donald Trump again pressured the Organization of the Petroleum Exporting Countries to raise crude production to ease gasoline prices. In Venezuela, supply fell by 100,000 bpd due to the impact of USA sanctions on state oil company PDVSA and a long-term decline in production, according to the survey. [Full Article...]

Venezuela's Guaido calls for uprising in video with troops

Venezuela's Guaido calls for uprising in video with troops Guaido supporters at the demonstration and soldiers began to fight. The United Nations and other countries urged a peaceful solution and dialogue. "We don't support any military coup", Celaa added. Our process is moving on step by step, in accordance with our constitution. Help us grow and continue telling Israel's story to the world. Protests are planned for Wednesday, May 1, including wh... [Full Article...]

SAS cancels hundreds of flights due to strike action

SAS cancels hundreds of flights due to strike action On Friday, many travellers turned up at Stockholm's Arlanda airport in the hopes of getting on other flights. "The SAS pilots' strike is surprising to us and makes it clear that SAS is more vulnerable than we previously expected", Sydbank analysts said. [Full Article...]

NY prosecutors allege Bitfinex covered up $850m loss

NY prosecutors allege Bitfinex covered up $850m loss Bitfinex and QuadrigaCX were the two biggest Exchange related issues that came to light his year. The New York AG also claimed in its release that, "the Bitfinex trading platform allows New Yorkers to purchase and trade virtual currencies". [Full Article...]

Elon Musk reaches new agreement with SEC over his social media abuses

Elon Musk reaches new agreement with SEC over his social media abuses Musk's latest legal battle with the SEC flared up in February after the agency claimed that Musk violated their settlement agreement when he tweeted that Tesla would make 500,000 total cars in 2019. That's a lot more specific than what had already been in place. Tesla CEO Elon Musk unveils the Model 3 electric vehicle in 2016. It was determined that the rules the SEC set for Musk's twee... [Full Article...]

U.S. Economy Grows 3.2% in Q1, Smashing Expectations

U.S. Economy Grows 3.2% in Q1, Smashing Expectations The strength in the USA could be good for the Canadian outlook, he said in a note to clients, but that won't change the Bank of Canada's decisions to go slower on interest rates. Retail sales have since rebounded strongly, pointing to some acceleration in consumption in the second quarter. U.S. real GDP grew 3.2% annualized in Q1, way better than expectation of 2.2%. [Full Article...]

Ford Invests in Rivian to Develop Electric Vehicle

Ford Invests in Rivian to Develop Electric Vehicle The Verge reported that Hinrichs said the deal with Rivian is a "significant opportunity" to get a new EV on the road faster and cheaper than if the automaker had developed one from the ground up. This large investment follows financial backing from Amazon in Rivian, which in February led a £544 million round of funding for the firm. "At the same time, we believe Rivian can benefit from Ford'... [Full Article...]

Uber pulls back on valuation with IPO pricing

Uber pulls back on valuation with IPO pricing Uber Technologies Inc . will sell 180 million shares in its public offering, with a further 27 million sold by existing investors. Uber tempered its valuation from a far higher $120bn, according to widespread U.S. Uber will trade on the New York Stock Exchange under the ticker "UBER" sometime next month. Uber is taking a conservative approach to its valuation and could later raise the pri... [Full Article...]

Apple announces 'Voluntary Recall and Exchange Programme' for faulty, wall plug adaptors

Apple announces 'Voluntary Recall and Exchange Programme' for faulty, wall plug adaptors Two types of the affected plugs were shipped in the UK, Singapore and Hong Kong. Customers can exchange their affected AC wall plug adapters (above) with a new adapter. The flaw identified in 2016 was the same as the current current [ stet ] problem: The adapters could "break and create a risk of electrical shock if touched". [Full Article...]

Weekly oil prices mixed mainly due to geopolitical factors

Weekly oil prices mixed mainly due to geopolitical factors Of course, oil producing countries can reduce their budget deficits with the current level of oil prices, but the concern is that in the long run, demand will become stagnant, and United States of America will improve its refining configuration to suit their new volumes of sweet crudes. [Full Article...]

Ford Under Criminal Investigation Due to Emissions Testing Issue

Ford Under Criminal Investigation Due to Emissions Testing Issue Ford said it is cooperating fully with those and other government agencies on the probe. Volkswagen AG admitted to cheating on its emissions testing in the US after the EPA discovered that many VW cars sold in the country had a "defeat device", or software in diesel engines that could tell when the cars were being tested and altering its emissions performance to manipulate results for certific... [Full Article...]

Apple Announces Recall Program For Three-Prong AC Wall Plug Adapter

Apple Announces Recall Program For Three-Prong AC Wall Plug Adapter Apple has announced that some wall plugs sold with a Mac, iOS device or the Apple World Travel Adapter Kit pose the risk of giving people an electric shock. This is not the first time Apple has initiated such a voluntary recall. You will also need to obtain your serial number as Apple says it will need to verify your Mac, iPad, iPhone or iPod serial number as part of the exchange proc... [Full Article...]

Second-biggest uncut diamond in history unearthed in Botswana mine

Second-biggest uncut diamond in history unearthed in Botswana mine Lucara sells its diamond production through regularly scheduled tenders throughout the year and since commencing production, has sold 180 diamonds for more than $1 million each and 10 single diamonds for more than $10 million each. The 1758-carat stone, which weighs almost 352 grams (12.4 ounces), was recovered from Lucara's Karowe Diamond Mine and is the largest diamond ever found in Botsw... [Full Article...]

Harley-Davidson profit exceeds estimates as Trump changes tune

Harley-Davidson profit exceeds estimates as Trump changes tune Harley-Davidson, the iconic US motorcycle maker, reported on Tuesday a 26.8-percent decline in its first quarter (Q1) net income due to declining worldwide sales. Chinese tariffs on the bikes increased from 30% to 55%. Rows of Harley-Davidson motorcycle sit for sale outside of the Harley-Davidson of New York City showroom store in the Queens borough of New York City, on June 25, 2018. [Full Article...]

Central Bank Rate Cuts Likely Coming in May

Central Bank Rate Cuts Likely Coming in May Without the major banks and institutions in the market, the Aussie and Kiwi will be exposed to economic data in the US later in the session. According to the Australian Bureau of statistics (ABS), the Australian CPI in March 2019 was recorded flat at 0.0%, compared with a rise of 0.5% in the December quarter 2018. [Full Article...]


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