Tesla will pause production at its California factory for six days at the end of the May to work on fixes to its assembly line for its new Model 3 sedan, sources inside the company told Reuters. The Silicon Valley luxury electric car maker previously warned of 10 days of temporary shutdowns this quarter as […]
Read moreWith a valuation of $69.6 billion, San Francisco-based Uber is the most valuable venture-backed company in the world. That’s according to recently released data from private financial market database PitchBook. Just behind Uber is the ride-hailing giant’s Chinese rival, Beijing-based Didi Chuxing, the world’s second most valuable venture-backed company at $56 billion. In fact, of […]
Read moreClosely followed trader Art Cashin said that he won’t be too worried about the stock market’s move lower Tuesday as long as the S&P 500 doesn’t break a certain level. “For now, we’ll call it a consolidation until it begins to worsen,” Cashin, UBS director of floor operations at the New York Stock Exchange, said […]
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A turbulent bond market sell-off on Tuesday sent interest rates to new multiyear highs, and signals the potential for a new trend that will push borrowing costs even higher on a wide range of business and consumer loans and mortgages. The selling was sparked by stronger economic data, but the market has been itching for […]
Read moreAmazon Web Services is loading up on engineers at a semiconductor unit in Portland, Oregon, where the cloud business is focused on improving video processing speeds. Chips are becoming more important to AWS as the company aims to control more of the hardware in its giant data centers and strengthen itself against growing competition from […]
Read moreStrange as it sounded, Donald Trump‘s reversal on punishing a Chinese telecommunications giant fits his pattern: facing powerful adversaries, the tough-talking president usually shrinks from a fight. Republicans and Democrats alike slammed Trump’s sudden declaration that stiff US sanctions for Shenzhen-based ZTE meant “too many jobs in China lost.” Not only had ZTE defied strictures […]
Read moreEverybody on Wall Street knows Tom Wolfe’s 1987 novel, “Bonfire of the Vanities,” which is a remarkable description of the culture and temper of the New York financial world in the 1980s — especially relevant now in Trumpworld as figures from that era take greater and greater national prominence. But Wolfe, who died on Monday […]
Read moreBasketball may be the most profitable sport in FanDuel’s fantasy sports game now, but CEO Matt King bets tennis could benefit most from legalized sports betting. “The beauty of tennis is that you could literally bet on every single hit in the match — every single point — and so it creates a lot of […]
Read moreIn a year where the market has been trying to find a direction, investors have been largely looking the wrong way. Two of the most crowded trades, low beta and high dividend yield, have been major losers, according to Bank of America Merrill Lynch. The high-yield strategy has netted a 3.6 percent loss heading into […]
Read moreAs Comcast and Disney ratchet up bids for 21st Century Fox assets, Verizon says it’s staying out of the fight. CEO Lowell McAdam said Tuesday the company has “no interest” in being a traditional TV network, focusing instead on digital media assets and investment in 5G wireless service. Verizon was previously reported to have made […]
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