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In various statements in public and recently to Tesla employees, Musk has said that he routinely lives around the clock at the manufacturing plant while the company tries to increase production of the Tesla Model 3, a mass-market sedan that now starts at $44,000.
  • Bitcoin & Ethereum Will Not Be Classed As Securities By The SEC

    Bitcoin & Ethereum Will Not Be Classed As Securities By The SEC

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    Whilst a Bitcoin or Ethereum security association did seem unlikely, it is nice to see that the SEC are at least delving into the idea that they could be a security, if only to prove the fact that they are not. "When the efforts of the third party are no longer a key factor for determining the enterprise's success, material information asymmetries recede", Hinman said.
  • US Federal Reserve raises key interest rate to 1.75-2 pc

    US Federal Reserve raises key interest rate to 1.75-2 pc

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    However, the Fed did not revise its long-term growth projection which suggests that the conditions are right for a higher, but flatter Treasury curve. The United States is nine years into its current economic cycle and has only seen one other cycle as long as 10 years since World War II. All those countries have vowed to retaliate against any USA tariffs with their own penalties against US goods.
  • Theranos founder Elizabeth Holmes indicted for alleged fraud; out as CEO

    Theranos founder Elizabeth Holmes indicted for alleged fraud; out as CEO

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    The indictment also alleged that Holmes and Balwani made numerous misrepresentations about Theranos' financial condition and prospects. Disgraced former Theranos CEO Elizabeth Holmes appeared in federal court in San Jose on Friday after federal prosecutors charged her and a former executive of the Bay Area blood-testing company with fraud.
  • One deputy killed, another in critical condition in Kansas City, Kansas

    One deputy killed, another in critical condition in Kansas City, Kansas

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    One deputy, 35-year-old Patrick Rohrer, was killed. "This incident remains under investigation by the Kansas City, Kansas Police Department's Criminal Investigations Division, who is encouraging anyone with information to call the TIPS Hotline at 816-474- TIPS (8477)", the Wyandotte County Sheriff's Office said.
  • China urges US to make 'wise choice' on trade tariffs

    China urges US to make 'wise choice' on trade tariffs

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    BEIJING-China's government renewed its threat Thursday to scrap deals with Washington aimed at defusing a sprawling trade dispute as the White House prepared to release a list of Chinese goods targeted for tariff hikes. The Trump administration is now trying to strike a trade agreement with China that would lead to the USA exporting more goods. In the trade fight, Bannon said, Trump has converted three major tools that "the American elites considered off the table" - namely, the use of ...
  • Elon Musk says Tesla will cut 9% of its workforce

    Elon Musk says Tesla will cut 9% of its workforce

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    Elon Musk , CEO of SpaceX and Tesla , speaks during the International Space Station Research and Development Conference in Washington, DC in July 2017. Tesla has been facing mounting pressure from investors to ramp up production of its first affordable auto model, the Model 3. Electrek on Tuesday also reported the company's layoffs and said the cuts began on Monday.
  • Apple to order 20 percent less component for the upcoming iPhones

    Apple to order 20 percent less component for the upcoming iPhones

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    The image above also tells us the 6.1-inch iPhone will feature a single-lens camera on the back, in line with what we've heard before. This is now in debate across the media, with many stating that the third slot is simply for the flash, however this contrasts previous schematics where the flash is distinctly smaller than the lenses themselves.
  • Federal Reserve hikes key interest rate for second time in 2018

    Federal Reserve hikes key interest rate for second time in 2018

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    The central bank raised its key short-term rate by a modest quarter-point to a still-low range of 1.75 percent to 2 percent. " Most people who want to find jobs are finding them, and unemployment and inflation are low". The Fed announced the rate rise at the close of a two-day meeting in Washington . The Fed chief now holds four such events each year . The new median forecast projects the Fed's benchmark rate at 3.1 percent by the end of 2019, up from 2.9 percent in the previous forecast.
  • Southeast Asia’s Grab lands $1B from Toyota at a $10B valuation

    Southeast Asia’s Grab lands $1B from Toyota at a $10B valuation

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    Toyota Motor Corp.is making its largest bet to date on ride hailing with a $1 billion investment in Singapore's Grab Holdings. Toyota has installed its data recorders in Grab-operated rental cars to collect driving data - a strategy similar to the one it has employed at Japan Taxi.
  • Dixons Says Almost 6 Million Cards Targeted in Cyberattack

    Dixons Says Almost 6 Million Cards Targeted in Cyberattack

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    The company says there's no evidence of fraudulent activity, but those affected have been notified. It's also been keen to stress that it has found no evidence of fraud taking place due to the breach, and that includes the 1.2 million personal records containing names, addresses, and emails.
  • Wendy's, Whataburger pile on insults for IHOP's 'IHOb' name change

    Wendy's, Whataburger pile on insults for IHOP's 'IHOb' name change

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    And it doesn't stop there. " IHOP just can't get out from under its own success as a breakfast place", said restaurant consultant Arlene Spiegel. Pressed for details, the company would not give an end date for IHOb but referred to the "tongue-in-cheek name change" and said it was tied to the summer burger promotion.