SINGAPORE — Shares in Asia-Pacific were mixed on Wednesday as China defied expectations by keeping its benchmark lending rate unchanged. Mainland Chinese stocks led losses among the region’s major markets. The Shanghai composite closed 1.35% lower at 3,151.05 while the Shenzhen component declined 2.072% to 11,392.23. Hong Kong’s Hang Seng index shed earlier gains and […]
After swinging between positive and negative territory throughout the day, U.S. stocks finished the day largely flat, held back by rising rates across most of the U.S. Treasury curve on expectations that sky-high inflation will lead the Federal Reserve to aggressively remove policy accommodation over the coming months to restore price stability. When it was […]
Netflix on Tuesday reported a loss of 200,000 subscribers during the first quarter — its first decline in paid users in more than a decade — and warned of deepening trouble ahead. The company’s shares cratered more than 25% in extended hours after the report on more than a full day’s worth of trading volume. Fellow […]
Tesla CEO Elon Musk is willing to invest up to $15 billion of his own cash to take Twitter private and will make a bid within 10 days, according to Tuesday reports. The New York Post reported Tuesday that Musk, with a 9.1% stake in the social media company, has tapped Morgan Stanley to help […]
Sharply rising mortgage rates are taking their toll on the nation’s homebuilders, as already pricey new construction becomes even less affordable. Builder confidence in the market for new single-family homes fell 2 points to 77 in April, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Any reading above 50 is considered […]
Former Twitter CEO Jack Dorsey slammed the board’s “dysfunction” as it handles billionaire Elon Musk’s offer to purchase the company. “If [you] look into the history of Twitter board, it’s intriguing as I was a witness on its early beginnings, mired in plots and coups, and particularly amongst Twitter’s founding members. I wish it could […]
Bank of America posted first-quarter profit on Monday that exceeded analysts’ estimates, helped by the better-than-expected credit quality of its borrowers. Here are the numbers: Earnings: 80 cents a share vs 75 cents a share Refinitiv estimate. Revenue: $23.33 billion vs $23.2 billion estimate The bank said that profit declined 12% to $7.07 billion, or 80 cents […]
Rivian CEO RJ Scaringe is warning that the upcoming battery shortage is going to make the current chip shortage look like a “small appetizer.” The warning comes almost a decade after Tesla announced plans for a battery gigafactory when the automaker sent similar warnings to the auto industry. To be fair to Scaringe, Rivian was […]
Inflation in the U.S. rose 8.5% in March, compared with the prior 12 months, marking the highest increase since 1981, according to the Labor Department’s Consumer Price Index. Between February and March, inflation rose 1.2%, making for the biggest month-to-month jump since 2005. According to several economists and other financial experts, high consumer demand in […]
SINGAPORE — Asia markets largely slipped in Monday trade, with investors reacting to the release of Chinese economic data, including first-quarter gross domestic product figures. In Japan, the Nikkei 225 fell 1.5% as shares of Fast Retailing declined nearly 2%. The Topix index shed 1.22%. Mainland Chinese stocks were also lower, with the Shanghai composite […]
Scale and Tesla’s Master Plan Part 3 came up during Tesla CEO Elon Musk’s recent TED Talks interview. Head of TED, Chris Anderson interviewed Elon Musk, and shortly after a random musical interruption, Tesla’s Master Plan Part 3 came up. I’d previously written a short article about what we might expect Elon to share in the next chapter […]
Tesla has stopped including a complimentary Mobile Connector Bundle with new vehicle orders. The change was first spotted by Twitter user Tesla_Adri, and later confirmed by CEO Elon Musk. The accessory, currently priced at $275 on its own, allows you to connect your Tesla to a wall outlet and get about two to three miles […]
