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Finance

Musk has not offered evidence that he has lined up the necessary funding to take Tesla private, and the complaints did not offer proof to the contrary. So the potential investor must be patient and strategic-looking". According to the report , which cites people with knowledge of PIF's plans, the fund is working to be a part of "any investor pool that emerges" to take Tesla private.
  • Elon Musk drama or no, Tesla still has investors on its side

    Elon Musk drama or no, Tesla still has investors on its side

    Finance

    In his crosshairs is hedge fund manager David Einhorn, who said his wrong bet that Tesla stock would fall was a big reason for his fund's poor performance in the second quarter . Tesla has announced that it will begin producing 6,000 Model 3's each week by the end of August. Musk also tweeted that developer applications must show prior work and that he's looking for games with "max playability & creativity".
  • Europe trade rift: What was settled, and what wasn't?

    Europe trade rift: What was settled, and what wasn't?

    Finance

    Trump said, as he stood next to European Commission President Jean-Claude Juncker. The Prime Minister has been told to take a harder towards Brussels after Mr Trump was able to get free trade promises out of Jean-Claude Juncker. We reported in error that Canada has imposed tariffs on U.S. apples. "Hope they do it, we are ready - but they won't!" "Since the price decline of USA soybeans in June 2018, the European Union is anyway purchasing more soybeans from the United States for ...
  • Facebook is sued after stock plunge 'shocked' market

    Facebook is sued after stock plunge 'shocked' market

    Finance

    Facebook boss Mark Zuckerberg's fortune has shrunk by nearly $16 billion after the social network was clobbered by the biggest one-day price drop in stock market history. Its $1.74 earnings per share beat expectations of $1.72. Twitter was down 6 percent, Amazon and Google 2 percent and Apple 1 percent. After all, from what little we know, the kids these days seem to be into Snapchat and Fortnite rather than posting semi-snide comments about the bridesmaid dress your friend ...
  • Juncker appears to shun Trump's hand of friendship

    Juncker appears to shun Trump's hand of friendship

    Finance

    Sen. John Hoeven, R-N.D., said Trump and U.S. Trade Representative Robert Lighthizer said they are still planning to have a reworked NAFTA by early fall, and that Lighthizer pledged to provide the lawmakers with details on several other smaller agreements he said were coming together, including with South Korea and South America.
  • Former FCA CEO Sergio Marchionne passes away

    Former FCA CEO Sergio Marchionne passes away

    Finance

    Fiat Chrysler said yesterday that Mr Marchionne, its chief executive until Saturday, had succumbed to complications from shoulder surgery. Marchionne took charge of Fiat and Chrysler in 2004, saving it from bankruptcy and also multiplied Fiat's value 11 times through 14 years.
  • After Facebook Stock Plunge, Mark Zuckerberg Worth Less Than Warren Buffett

    After Facebook Stock Plunge, Mark Zuckerberg Worth Less Than Warren Buffett

    Finance

    But the results followed a period in which data-privacy issues came under harsh scrutiny, with Chief Executive Officer Mark Zuckerberg testifying before U.S. Its total user count represents an 11 percent increase over the year-ago period. "It appears that stronger Instagram performance (according to our checks) was not enough to offset some of the core app headwinds", said Colin Sebastian, analyst at Robert W.
  • USA to give farmers $12bn trade war bailout

    USA to give farmers $12bn trade war bailout

    Finance

    On Tuesday night, Mr. Trump suggested he was willing to make concessions if Europe would. WASHINGTON-President Donald Trump slammed critics of his trade policies on Wednesday, warning they are undermining his negotiating position while American farmers are being "ripped off".
  • Alphabet profits jump despite record European Union fine

    Alphabet profits jump despite record European Union fine

    Finance

    In the same quarter previous year, Alphabet reported earnings of $8.90 per share, excluding a $2.7 billion regulatory fine the European Union imposed on the tech giant. Alphabet reported revenues of $32.7 billion, up 26 per cent versus the second quarter of 2017. In a statement, Ruth Porat , chief financial officer of Alphabet and Google, said the company had delivered "another quarter of very strong performance".
  • U.S. President Trump says 'tariffs are the greatest'

    U.S. President Trump says 'tariffs are the greatest'

    Finance

    The Washington Post notes that the program was created so long ago that it doesn't require congressional approval while taking out a loan of up to $30 billion. "Tariffs are the greatest! " the president wrote on Twitter. He warned USA trade partners that he will impose more sanctions unless they negotiate a "fair deal".
  • John Elkann named Ferrari chairman as Marchionne battles health issues

    John Elkann named Ferrari chairman as Marchionne battles health issues

    Finance

    Marchionne was recovering from surgery and that these have worsened significantly in recent hours", the company said in a statement today. Marchionne had stated his intention to retire in 2019, but his exit a full year earlier and the tone of various statements released by FCA indicate that the former CEO's health may be in steep decline.
  • Trump says Russian Federation to

    Trump says Russian Federation to "help with North Korea" nuclear jam

    Finance

    The United States pushed through a series of UN resolutions past year that significantly escalated the pressure on North Korea's economy in response to Pyongyang's repeated tests to advance its nuclear weapons program. The principle of "complete, verifiable and irreversible" denuclearization, which the US had stuck to for the past decade, has been deeply compromised.
  • Oil Rises as Saudi Forecast a Decline in Export in August

    Oil Rises as Saudi Forecast a Decline in Export in August

    Finance

    Second, Trump can, as he recently did, ask Saudi Arabia to increase its crude production. "The organization's legal team will hold talks in the coming days with law firms including White & Case about the "No Oil Producing and Exporting Cartels Act", one of the people said , asking not to be identified because the information is not public".
  • China's trade surplus widens in June as imports drop

    China's trade surplus widens in June as imports drop

    Finance

    The record deficit last month threatens to irritate the White House, which wants to see the extra tariffs on imports reversing the recent trend. Washington has warned it may ultimately impose tariffs on more than $500bn worth of Chinese goods - almost the total amount of United States imports from China a year ago.
  • Amazon deals: Up to 50% off Hatley raincoats

    Amazon deals: Up to 50% off Hatley raincoats

    Finance

    United Kingdom retailers have attempted to "hijack" Amazon Prime Day by offering discounts in the run up to the sale event. But as that 36-hour period draws closer, Amazon is tempting us with a few tasty offers each day. Amazon Prime yearly subscription is now $119, with benefits including free and faster delivery times, access to Amazon's streaming services, and Prime-specific discounts.
  • Global markets slammed as Trump intensifies trade war

    Global markets slammed as Trump intensifies trade war

    Finance

    The foreign ministry described Washington's threats as "typical bullying" and said China needed to counter-attack to protect its interests. S&P 500 and Dow futures dropped around one per cent, pointing to a weak opening on Wall Street later on Wednesday.
  • Dollar retraces losses as sterling dives on Boris Johnson exit

    Dollar retraces losses as sterling dives on Boris Johnson exit

    Finance

    Answering a reporter's question over whether May would stay in power, Trump said as he set off on a trip to Europe, "That's up to the people". "I didn't criticize the prime minister", Trump falsely claimed, adding: "Fortunately we tend to record stories now, so we have it for your enjoyment.it's called fake news".
  • Elon Musk sends engineers to help Thai cave rescue

    Elon Musk sends engineers to help Thai cave rescue

    Finance

    Powerwalls. However, it is now unclear if Thai officials will accept Musk's help. He initially deferred to the Thai government, but nonetheless offered to help. CNN reports Musk noted early Friday he was sending SpaceX and Boring Co . engineers over to Thailand to assess things in person, an assertion backed up by the Thai government.
  • 'Please stop' tweeting about oil, Iran tells Trump

    'Please stop' tweeting about oil, Iran tells Trump

    Finance

    Prices to high!" He also mentioned that a working group to discuss the plan was being formed. Iran's Petroleum Minister said US President Donald Trump has recently made "interfering" remarks on the Organisation of the Petroleum Exporting Countries ( OPEC ).
  • Global outages overshadow underwhelming OPEC output hike

    Global outages overshadow underwhelming OPEC output hike

    Finance

    Carsten Fritsch, senior commodity analyst at Commerzbank, also said in a note that "any price-dampening effect" of a potential further increase in Saudi Arabian production - as proposed by Trump - "would only be short-lived". "With the oversupply fears still lingering in the background, rising production from OPEC+1 and U.S. shale, plus trade war fears, could negatively impact oil prices".
  • Walmart boycott: Calls mount over 'Impeach Trump' items

    Walmart boycott: Calls mount over 'Impeach Trump' items

    Finance

    Angry Trump supporters threatened to boycott Walmart over the clothing range. There's also mens and juniors shirts that read "45 You're Fired", using Trump's facing line from his former show "The Apprentice". Since it went viral, Walmart removed them and all other "Impeach 45" merchandise from their online store. Walmart hasn't responded to media inquiries seeking a response to the boycott threats.