Finance

Tesla is investigating 'extensive' sabotage by a rogue employee, Elon Musk says

Tesla is investigating 'extensive' sabotage by a rogue employee, Elon Musk says In a shocking news, Tesla CEO, Elon Musk shared an email with all Tesla employees on Sunday claiming that there was a saboteur working among them who has been discovered. Musk added that production on the Tesla Model 3 electric vehicle will now be ramped up to 5,000 a week. In another email nine hours later, Musk said there had been "another odd incident that was hard to explain" - a sma... [Full Article...]

Merkel accepts CSU offer to delay ban on migrants: DPA

Merkel accepts CSU offer to delay ban on migrants: DPA The question of how many migrants the bloc can absorb came back to the fore strongly when last week Italy and Malta both turned back a rescue vessel carrying 630 refugees , which was eventually accepted by Spain. "France and Germany have agreed to set up a Eurozone budget". Germany will likely miss its goal of cutting emissions by 40 percent by 2020, the country's environment minister has sa... [Full Article...]

Audi chief exec arrested over Dieselgate auto emissions scandal

Audi chief exec arrested over Dieselgate auto emissions scandal A court hearing to determine whether Stadler would remain in jail was ongoing, the company said, adding that it wouldn't comment further due to the ongoing investigation. Martin Winterkorn . Munich prosecutors searched Stadler's private residence last week in their investigation of suspected fraud and indirect improprieties with documents. [Full Article...]

China vows to retaliate against Trump's $50bn of tariffs

China vows to retaliate against Trump's $50bn of tariffs Beijing responded to the move by saying that it intends to impose similar tariffs on USA imports, raising the specter of a full-blown trade war between the two economic giants. He added that the penalty is created to punish China for stealing American intellectual property and technology. The new tariffs come "in light of China's theft of intellectual property and technology and its othe... [Full Article...]

Merkel gets ultimatum from hardline ally over migrants

Merkel gets ultimatum from hardline ally over migrants Merkel is locked in a standoff with her interior minister, Horst Seehofer , over his demand for some asylum-seekers to be turned back at the border. In this Wednesday, June 13, 2018 photo, German Chancellor Angela Merkel , right, talks to Interior Minister Horst Seehofer, left, prior to the weekly cabinet meeting at the chancellery in Berlin . [Full Article...]

Trey Gowdy on DOJ Report: 'Not the FBI Our Country Needs'

Trey Gowdy on DOJ Report: 'Not the FBI Our Country Needs' The records of the messages were published in a report from the Department of Justice's inspector general, which conducted an internal review of the FBI's handling of the inquiry into the Clinton email investigation . He told investigators the FBI found itself in the middle of a "500-year flood" and that he "weighed the need to preserve the credibility and integrity of the Department and t... [Full Article...]

Trump bashes OPEC for 'high' oil prices

Trump bashes OPEC for 'high' oil prices While economic growth is projected to be strong in the US, Europe and Japan, there is a chance of a slowdown in China and India, OPEC said . US President Donald Trump and Iran exchanged sharp words over oil prices on Wednesday, with Trump blaming OPEC for high oil prices and Tehran accusing him of stoking volatility after he withdrew last month from a global nuclear arms deal with Ira... [Full Article...]

European Central Bank to end crisis-era stimulus programme in December

European Central Bank to end crisis-era stimulus programme in December At various times the parties have also questioned Italy's membership in the euro itself. That jolted financial markets last month, though Italy's new finance minister has helped calm investors by saying recently that his country has no intention to leave the currency union. [Full Article...]

Rents pricing out minimum-wage workers across the US, report says

Rents pricing out minimum-wage workers across the US, report says Statewide, Hawaii residents need to earn $36.13 per hour, or $75,150 annually to rent a two-bedroom residence - more than any other state. An afternoon recap of the day's most important business news, delivered weekdays. "The demand for rental housing grew significantly during the past decade as a result of demographic shifts and the effects of the Great Recession". [Full Article...]

Price manipulation caused Bitcoin's huge 2017 surge, researchers say

Price manipulation caused Bitcoin's huge 2017 surge, researchers say Mr Griffin looked at the flow of digital tokens going in and out of Bitfinex , and identified several distinct patterns that suggest that someone or some people at the exchange successfully worked to push up prices when they sagged at other exchanges. [Full Article...]

Elon Musk's Company To Build Chicago-To-O'Hare High-Speed Underground Transport

Elon Musk's Company To Build Chicago-To-O'Hare High-Speed Underground Transport The system will include 16-passenger vehicles called "skates" that will travel up to 150 mph (240 km per hour) through a tunnel. Chicago leaders have talked for more than a decade about a high-speed route between O'Hare and downtown, but it has yet to materialize. [Full Article...]

Fed raises interest rates and predicts faster pace of future increases

Fed raises interest rates and predicts faster pace of future increases At a news conference, Powell sought to portray the Fed's actions as evidence mainly that the economy is doing well and not that the central bank is eager to accelerate its rate increases. The Fed also continued to suggest it would allow inflation to run a little hot, above its 2 percent inflation target before putting on the brakes with additional rate hikes. [Full Article...]

Tesla layoffs: Elon Musk says job cuts required to fuel profits

Tesla layoffs: Elon Musk says job cuts required to fuel profits Tesla has promised it will produce 5,000 Model 3 cars per week by July. The rep also tells The Drive that the company is still hiring rapidly and that after this round of job cuts, Tesla will still boast more employees than it had at the beginning of 2018. [Full Article...]

Amazon expands Whole Foods grocery delivery service to Philadelphia area

Amazon expands Whole Foods grocery delivery service to Philadelphia area The savings for Amazon Prime members will expand to 10 more states, including Hawaii. "We've been delighted with the customer response to free two-hour delivery through Prime Now ", Whole Foods Market Executive Vice President Christina Minardi said in a blog post . [Full Article...]

Got Potholes? Tell Domino's about it. You might get lucky

Got Potholes? Tell Domino's about it. You might get lucky Potholes are causing massive pizza disruption problems in the US, so Domino's has made a decision to do something about it. In Petaluma, Calif., a town that applied for and won KFC pothole funding based on the city's " dual reputation for chicken farming and tire-flattening potholes ", the local government ended up in a fracas with PETA over the collaboration with KFC. [Full Article...]

Federal judge approves AT&T-Time Warner merger

Federal judge approves AT&T-Time Warner merger The Justice Department could decide to appeal the ruling , however. The Judge also said the DOJ should appeal the ruling or ask for a stay that could force AT&T to pay Time Warner a fee. It's unusual for the Justice Department to argue that a vertical merger of two companies that aren't direct competitors would limit competition, but the effect that the merger will have on the telecoms and ente... [Full Article...]

Korean leader Kim commits to peninsula's complete denuclearization in joint text

Korean leader Kim commits to peninsula's complete denuclearization in joint text He added that their meeting was "very, very good". There was no word immediately after the Trump-Kim meeting of any change in their plans to return home on June 13. form of fantasy. from a science-fiction movie", Kim said, according to a translator. Trump also said he wants "at some point" to withdraw the American troops now in South Korea. [Full Article...]

Tesla Autopilot update to include first 'full self-driving features'

Tesla Autopilot update to include first 'full self-driving features' Elon Musk says Tesla's upcoming supercar will fly, possibly in a literal way. In another fatal accident past year, Tesla's Autopilot failed to detect a truck crossing the road, but investigators pointed out the driver was watching a movie at the time and not paying attention with the semi-autonomous system in operation. [Full Article...]

Cryptocurrency hackers steal one third of coins on South Korea exchange

Cryptocurrency hackers steal one third of coins on South Korea exchange Also on Friday, the Wall Street Journal reported that "several" US cryptocurrency exchanges have been asked to hand over data to an insider trading from the US Commidity Futures Trading Commission. In South Korea, 14 major local cryptocurrency exchanges adopted measures aimed at better protecting users in January this year, including restrictions on creating more than one account. [Full Article...]

Trump, Kim make history with first-ever US-North Korean summit

Trump, Kim make history with first-ever US-North Korean summit As they then moved to the meeting room, Mr Kim looked tense - leaning forward in his chair, noting that the two leaders have overcome many obstacles to be there. Beyond the impact on both leaders' political fortunes, the summit could shape the fate of countless people - the citizens of impoverished North Korea, the tens of millions living in the shadow of the North's nuclear threat, and mill... [Full Article...]


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