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Tesla shares sink after analysts warn on Model 3 margins, Musk interview

Tesla shares sink after analysts warn on Model 3 margins, Musk interview

Efforts were underway to find a No. 2 executive to help take some of the pressure off Musk, after his tweet drew attention from US regulators and angered the company’s board. A Tesla Model S charges at a Tesla Supercharger station in Cabazon, California, US. (Reuters pic) BENGALURU: Tesla Inc’s shares slumped 8% on Friday […]

August 17, 2018 | By | Reply More
Nvidia’s crypto gold rush goes bust in lacklustre forecast

Nvidia’s crypto gold rush goes bust in lacklustre forecast

For a second quarter in a row, investors ignored Nvidia’s growth in its main markets and ditched the stock. Nvidia Corp. GeForce GTX 1070 graphic processing units (GPU) sit stacked inside a ‘mining rig’ computer, used to mine the Ethereum cryptocurrency. (Bloomberg pic) SAN FRANCISCO: Nvidia Corp.’s nine-month crypto gold rush is over. Sales of […]

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Musk’s SpaceX could help fund take-private deal for Tesla

Musk’s SpaceX could help fund take-private deal for Tesla

Musk said Saudi Arabia’s sovereign wealth fund manager had voiced support for the company going private several times, but also said that talks continue with the fund and other investors. Elon Musk, founder, CEO and lead designer at SpaceX and co-founder of Tesla, speaks at the International Space Station Research and Development Conference in Washington, […]

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Angry Birds maker Rovio’s games get sales boost

Angry Birds maker Rovio’s games get sales boost

The Finnish company reported lower second-quarter earnings due to declining revenue from its 2016 Hollywood movie, but the number of active players for its games rose more than analysts had expected. An employee works inside an office of Rovio, the company which created the video game Angry Birds, in Shanghai. (Reuters pic) HELSINKI: Rovio Entertainment, […]

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With Bitcoin sinking, crypto miners just dig deeper

With Bitcoin sinking, crypto miners just dig deeper

An increasing hash rate means Bitcoin mining is still profitable enough for many players to stay put, defying speculation that prices have fallen past break-even points. A collection of bitcoin tokens sit in this arranged photograph in London, UK. (Bloomberg pic) LONDON: With Bitcoin declining this year, you might expect mining activity to follow. That […]

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Air France-KLM’s new CEO faces immediate union threat of strike

Air France-KLM’s new CEO faces immediate union threat of strike

Smith will have to cut costs and improve operations in a competitive industry while trying to rein in disgruntled unions, all with the French state looking over his shoulder. An Air France Airbus SAS 320 aircraft, operated by Air France-KLM Group, on the tarmac at Toulouse-Blagnac airport in France. (Bloomberg pic) PARIS: Air France-KLM’s new […]

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Asian markets bounce back on US-China trade talks

Asian markets bounce back on US-China trade talks

Despite the positive wave through world markets, analysts have said a quick resolution of the trade spat between the world’s top two economies is unlikely. News that China and the United States will resume trade talks has soothed investors. (AFP pic) HONG KONG: Asian markets were on the rise Friday following strong leads from Wall […]

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Australia expects free trade deals with Indonesia, Hong Kong

Australia expects free trade deals with Indonesia, Hong Kong

Concluding the two agreements would wrap years of talks, which in the case of Indonesia have dragged on since 2010. Indonesian President Joko Widodo (L) shakes hands with Australian Prime Minister Malcolm Turnbull. (Reuters pic) SYDNEY: The Australian government expects to seal free trade agreements with Indonesia and Hong Kong by year’s end, its trade […]

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Musk tells NYT bombshell Tesla tweet not reviewed by anyone

Musk tells NYT bombshell Tesla tweet not reviewed by anyone

Tesla’s board has clarified that it hasn’t received a formal proposal from Musk, nor has it concluded whether going private would be advisable or feasible. Elon Musk, chief executive officer and chairman of Tesla Inc. (Bloomberg pic) SYDNEY: Elon Musk said no one saw or reviewed his tweet about the plan to take the electric-car […]

August 17, 2018 | By | Reply More
Tesla sues Ontario over scrapped electric car rebate

Tesla sues Ontario over scrapped electric car rebate

Customers who ordered their car before July can still benefit from the programme until mid-September – except for hundreds of Tesla customers, according to the firm. Tesla superchargers are installed at the Quinte Mall in Belleville, Ontario, Canada, May 2018. (Reuters pic) MONTREAL: US electric automaker Tesla has sued the government of Ontario, Canada, after […]

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