Tag: featured

The departure list from Uber keeps on growing. On Sunday, Uber said that the ride sharing president of Uber, Jeff Jones left the company after six months of joining it. Brian McClendon, the maps and business platform Vice President at Uber, is also planning to leave by the end of this month.

The circumstances that led to them leaving are very different. Mr. Jones was poached from the company Target to be the No. 2 Executive at Uber, who left because the CEO of the company, Travis Kalanick said that he needed help in leadership and was searching for a new Chief Operating Officer.

The departure of Mr. McClendon was harmonious and he would stay as an adviser to the company. He said that he was moving back to his home state Kansas to explore politics. His last day at Uber would be March 28, 2017.

These departures add to the earlier executive departures from Uber in 2017. Gary Marcus, who joined in December after the acquisition of his company, left in March 2017 and Raffi Krikorian, the self-driving division director left last week. Top Engineer, Amit Singhal was also asked to resign as he failed to disclose the claims of sexual harassment against him at Google, his previous employer. Another senior executive, Ed Baker also left this month.

There were no comments from Mr. Jones on his departure. Mr. McClendon said that he was returning to Lawrence, Kansas, his hometown, after being away for thirty years.

The hiring of Mr. Jones last August was highly publicized by the company. He was in charge of the company’s operations, customer support, and branding divisions.

The exit of Mr. Jones is problematic as many former and current employees saw him as the counterpart or successor of Travis Kalanick. The Board of Directors and Investors just wanted to stabilize the company after the past few months of turmoil.

Kalanick has faced a lot of scrutiny for his role in the internal operations at Uber and blamed for not dealing with the human resources issues of the company. Mr. Jones was supposedly the adult in the room as he had a lot of experience as a leader in a public company going through a lot of crisis.

McClendon, on the other hand, was hired from Google nearly two years ago to work on the autonomous vehicle and mapping initiatives. McClendon was at Google for about ten years and was an integral cog in the formation of Google Earth and Geolocation Technology research of the company.

Uber currently relies on a mix of technologies, but heavily relies on Google Maps, which is one of Uber’s main competitors as well. Therefore, McClendon’s departure is problematic as it is strategically important for Uber to strengthen their geolocation and mapping services.

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The stock indexes in US closed higher on Wednesday because of an oil rate bounce after Federal Reserve had a less aggressive than expected stance. The interest rates were raised by the central bank as expected.

Dow Jones closed up at a triple digit, about 110 points after the released statement. Most gains were contributed by UnitedHealth with Caterpillar and Johnson & Johnson following right behind.

A fresh intraday high was also seen in the NASDAQ Composite 100, closing at a record. This was due to the record highs in shares of Apple Inc. Stocks of semiconductor companies also reversed losses with iShares PHLX Semiconductor ETF ending higher as well, by nearly 0.8 percent.

The target range for federal funds rate was also raised by the Fed. It is now between 0.75% and 1%. The only no vote for this came from Neel Kashkari, the Minneapolis Fed President. The policy makers said in a statement that they are expecting conditions in the labor market to strengthen more and inflation to stabilize to about 2% in the coming term.

After the release of this statement, the Treasury yields fell. The 2Y Yield dropped to 1.3%. Earlier this season, this yield hit 1.4%, its highest value since June, 2009. The 10Y Yield was at 2.5%. Both the yields were at their lowest value in the week.

The index of the greenback extended its losses to trade at about 1% lower and these levels were not seen in about two weeks. The Euro traded at $1.073 and Yen at 113.4 Yen against the US Dollar.

The financial stocks just fell in the S&P 500. There were advances in the energy sector, which closed up 2.1%. US Crude oil futures were at $48.86 per barrel, up 2.39% after the weekly inventory data showed a stockpile drawdown. The consumer price index was up 0.1% in February and Ex-food and energy costs, the core Consumer Price Index was also up by 2.2% in twelve months through February.

Retail sales also showed a 0.1% rise, which is their weakest print since August. If we exclude food services, building material, gasoline, and automobiles, the core retail sales rose by 0.1% after a revised upwardly 0.8% jump in the month of January. The retail sales and CPI clearly matched the expectations.

According to the New York Federal Reserve, the ESMI (Empire State Manufacturing Index) lowered to 16.4 in March. The new order index climbed to 21.3, roughly by 8 points, its highest since 2009. There was a 0.3% rise in Business Inventories in January.

Dow Jones closed up 112.73 points at 20950.10. American Express still lagged. S&P 500 was up 19.81 points at 2385.26. Financials declined, but energy was the advancer. NASDAQ Composite closed at 5900.05 by gaining 43.23 points, mostly because of Apple.

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Despite the fact that Yahoo has sold its key business, it has decided to pay all its top executives with a handsome amount. On Monday, Yahoo announced its upcoming plans for the future and said that Yahoo is about to sell its advertising business and technology to Verizon. Once this deal has been made official, the company will replace its existing Chief Executive Officer, Marissa Mayer. The remainder of the company will comprise of the Alibaba stocks that are owned by Yahoo, the stakes of the Yahoo operating in Japan, and several other minor investments.

When compared to the tasks at hand available to Marissa Mayer, the tasks that are going to be executed now will be much simpler. As Marissa Mayer is leaving Yahoo, the company is going to offer her a severance package of 23 million dollars. In addition to this, she has been awarded with options of unexercised stocks that amount to 69 million dollars. And she is also the owner of the stocks of Yahoo, which are worth 97 million dollars. She can sell these stocks if she wants after she leaves the company.

Marissa Mayer has even voluntarily surrendered 20 million dollars as a compensation for the cyber-attacks that had recently taken place in Yahoo. Summing all this up, Marissa Mayer will still be the owner of a very handsome capital, which can be approximated to about 189 million dollars.

Yahoo decided to replace Marissa Mayer with the former Chief Executive of the IAC, Thomas McInerney. He received his offer letter on Monday and will be beginning his term as the new Chief Executive officer of Yahoo with a base salary of 2 million dollars. This is twice the amount that was being paid to the former CEO, Marissa Mayer. According to the disclosures revealed by Yahoo, the company plans to pay Thomas McLearney a sum of 4 million dollars in his 1st year and the company assumes that he is going to achieve all his targets.

This decision of paying Thomas Mclnerney so much more than Marissa Mayer can be questionable on the basis on discrimination of gender. The amount, which Thomas Mclnearney will be receiving, is for absolutely no work as compared to the burdensome, tedious, and challenging tasks that had to be carried out by Marissa Mayer.

Yahoo, which will be headed by Thomas Mclnearney, is not like the vast business Yahoo used to be prior to its sale to Verizon. It has transformed into an investment company, which will carry out similar operations and functions like any other mutual fund.

 

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The new administration under Trump is busy with legislation that is squarely aimed at stripping Americans of consumer protections they got through CFPB (Consumer Financial Protection Bureau). The Republicans seem to have made it their top priority to eliminate it and repeal Dodd-Frank provisions.

The banking industry was unanimous that consumers use CFPB platform to single out firms and a low-level complaint is given the same weight as a serious allegation. The CFPB then uses these flawed and incomplete metrics to harass the businesses. The Consumer Financial Protection Bureau while defending itself said that the complaints that come to it are from the real people. It gives an insight into the consumer’s experience with the various financial institutions and the consumers have got a platform in the real sense where their grievances are actually heard and taken care of.

The Republican government has now decided to make businesses happy and are working on a bill, which if becomes a law will eliminate the existence of CFPB. There are nearly six bills for review that aim at different aspects of the Dodd-Frank financial reform law and the CFPB thus created.

The Vice President of policy and mobilisation for Consumer Reports, Laura MacCleery said, “The very same lawmakers who fought the creation of the CFPB are now hoping to take both the bark and bite out of this critical consumer watchdog. These bills would cripple the CFPB’s ability to stand up to the big banks and predatory lenders and leave consumers vulnerable to financial scams and rip-offs.”

Sen. David Perdue, R-Ga introduced a bill last week, which if passed would give the entire control over the protection group’s budget to the Congress. If it happens, the very purpose of having an agency that cannot be influenced by the financial industry lobbyists will be defeated.

Another bill introduced by Sen. Deb Fischer, R-Neb last month proposes to replace the single independent director of CFPB with a five-member commission. The Republicans have also called the firing of CFPB Director.  Under the current structure, CFPB is an independent entity and even the President of the United States does not have the power of removing its Director. Richard Cordray, the director, however, made it clear that he does not intend to step down before completing his term, which continues till 2018.

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The current Chief Executive Officer of Yahoo, Marissa Mayer has decided to dock her pay and she is also giving up the stock award of 2017 and 2016 bonus due to the data breach the internet giant suffered in 2014. This move would cause Marissa a slight loss of about $14 Million only.

Record was the one who reported the data breach for the first time. This breach had a plethora of information that was sensitive to about millions of customers.

To investigate the matter, an independent committee was setup. This committee said that Mayer didn’t mean to run Yahoo with such loose security and the report by the committee didn’t even conclude if there was a suppression of information.

Apparently, it is the job of the lawyers to keep data secure as the giant booted their head lawyer, Ron Bell after the committee’s report. According to the report, the legal team had enough information for conducting a formal inquiry, which could reveal more details of the breach in the year 2014 only, but they decided not to pursue it.

Even social media had baffled comments on this announcement most being anti-Mayer and pro-Bell. People, who had worked with Bell, also disliked this move by the giant.

VijayaGadde, Twitter’s Head of Legal Affairs said that he has little to no knowledge about Yahoo’s breach, but he knew that lawyers are very easily blamed for everything. Ron Bell was a hell of a lawyer, according to him. A former Yahoo executive, Scott Moore also came to the lawyer’s aid by saying that this move was ridiculous and Ron Bell was a great lawyer. He added that lawyers aren’t in charge of the security.

There was a lot of truth in these comments. Many close sources also commented on the situation by saying that Yahoo’s ways of handling things after the breach was revealed were not clear cut as compared to their filing determination today. During these two years, security executives kept leaving the company. These departures included Chief Information Security Officer Alex Stamos, who after a lot of clashes on security issues with the CEO, left the company to join Facebook.

The summary of the filing by the company is given here:

  1. This investigation revealed that the information security in-charges at the company had enough information about these incidents.
  2. The senior execs and legal staff also knew that an actor who was state sponsored had access to a lot of accounts by hacking into the tool for account management.
  3. Although, actions to remedy that were taken and all 26 years were notified and authorities were consulted as well.

After this filing, the acquisition of Yahoo would go smoothly after already seeing a $350 million discount due to this breach.

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The US is thinking of pursuing tougher enforcement of all the trade rules that exist with China specifically and also all the other nations. This statement was said by Commerce Secretary Wilbur Ross before the addressing by President Donald Trump to the congress this Tuesday night.

In an interview, Wilbur Ross said that there is no point in making trade deals if the parties don’t end up enforcing them and enforcement would be applied to everyone.

Wilbur Ross was sworn as the Commerce Secretary earlier Tuesday only. He said during the confirmation hearing held for him that he would prioritize renegotiation of the NAFTA (North American Free Trade Agreement) with Canada and Mexico. He also said that he would be leveling the field of play with countries like China. He called China as the most protectionist of the major nations.

Wilbur Ross also said that he had specific measures to be taken against China. These specific measures are supposedly going to be announced as soon as they have prepared a case that is proper for them. He also said that the Trump Administration would fix NAFTA (North American Free Trade Agreement) and make it not just a deal of free trade but a fair deal.

Wilbur Ross also said that the administration run by President Donald Trump is also planning to implement deregulation programs. These deregulation programs are planned to not only cover the financial sector, but others too. They also have planned to include rules that cover environmental protection and also the labor market in these deregulation programs. He also added that the United States of America has many different rules. These rules are unimaginable and these rules are definitely blocking the straight growth of American businesses.

When Wilbur Ross was asked if there could be an economic growth of three percent or more than three percent in the year after 2017 for the United States of America, he said that according to his hypothesis, the year 2018 is going to be an excellent year for the economy of the United States of America.

Wilbur Ross, who is also a billionaire and a businessman, is going to be the most important and seasoned leaders in the business sector to be part of the economic team administered by President Donald Trump. Ross has been an equity investor for a long time now. He has been able to restructure a lot of companies and across a wide variety of industries. These industries include textiles, banking, and steel to name a few. According to Bloomberg, the fortune of Wilbur Ross is valued at an amount of at least 3 billion dollars.

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In Tuesday’s extended trading, shares of Salesforce.com Inc. plummeted 2 percent after they released their forecast for the full fiscal year and outlook for the next quarter. Their revenue was raised for the full year slightly above what analysts had expected, but their profit for the next quarter outlook was lower than what the analysts had expected.

The company expects their adjusted profits for the first quarter to be 25 to 26 cents per share. Analysts, on the other hand, had expectations of a profit per share of 30 cents.

Mark Hawkins, the company’s Chief Financial Officer, told the investors in a recent conference call that this mixed outlook is because of more customers who have booked large deals in the fourth quarter of the company, which has resulted in a steep drop in the first quarter outlook. Hawkins added that it was because of the holiday season.

The focus of the company has been more towards partnerships and acquisitions for bolstering their services and gaining a market share against the stiff competition by competitors like Oracle Corp. and Microsoft Corp.

Salesforce.com’s core sales software revenues increased to $3 Billion by about 13.3%. This was a faster rise in the recent years and also a surprise to the analysts who considered the core software their oldest and least likely to be a driver of revenue growth as compared to the other products by the firm.

Analysts believe this expansion was due to the new features added to the product like recommendation feature, which allows salespeople to know where to call next and overall growing market for sales software.

A Wedbush analyst, Steve Koenig believes that there is going to be a lot of opportunities of growth ahead. Salesforce.com has been working on broadening their services portfolio with hopes of keeping their existing users. The company launched an AI Einstein in the month of October as part of their efforts.

Their full year guidance for revenue slightly increased from the range of $10.1 Billion – $10.15 Billion to a range of $10.15 Billion – $10.20 Billion. Reuters’ analysts expected the revenues to be $10.16 billion.

The net loss of the company widened to 7 cents a share or $51.4 million in the last quarter from a loss of 4 cents a share or $25.5 million.

If you exclude items, the total earnings per share for the company was 28 cents. The revenue showed a rise of 26.8% to $2.29 billion. The expectations of analysts was a profit of 25 cents a share and a revenue of $2.28 billion.

Up to the close on Tuesday at $81.35, the stock of the company has risen 20% in the past 12 months.

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On the 24th day of February, 2017, a Friday, Donald Trump made a media ban against some news outlets which includes CNN, BBC, The New York Times, The Los Angeles Times and Politico from covering the media white house press briefing. There is no doubt that Donald Trump is right with this ban. Given the intensity of information war media organizations like CNN and New York Times are waging against President Donald Trump’s administration, I guess he has been pushed to the wall.

There are several fake news media organizations distorting facts and giving incorrect information for the sole purpose of discrediting Donald Trump and manipulating public opinion against him. I do not blame Trump for banning these news outlets. If he doesn’t stop them, they will eventually stop him.

The motive of these fake news media is clear. CNN, Los Angeles Times and New York Times among other rogue news outlet supported Hilary Clinton during the election campaign. They carried out a lot of fake polls predicting that Hilary Clinton will win the election by a landslide. It was obvious that all these polls were fraudulent with the aim of boosting the image of Hilary Clinton and manipulating public opinion in her favor.

Why were the press doing this? The reason is not far-fetched. Most of the anti-trump news outlets involved in the fake polls during the election campaign had previously endorsed Hilary Clinton as a presidential candidate. This is wrong for free press. The endorsement of one candidate over another shows that these media organizations have a skeleton in their cupboards and are not actually working in the overall interest of the American people. They were working to promote their own selfish interests. Fast forward to November 8, 2016 when Donald Trump won the election. The fake news media organizations like CNN became disgruntled and declared war on Trump.

CNN and other news outlets started airing false news against Trump, from the allegation that his victory was manipulated by Russian Intelligence to Trump being Putin’s puppet, there seemed to be no end to the false accusations against President Donald Trump. No little thanks to wicked news media coverage, CNN reporters and other rogue news agencies made Trump’s inauguration a controversial one. They abandoned the real issues and focused on crowd size. Making the President look like a liar on his inauguration day.

From the day of inauguration, these fake news media followed Trump all the way, discrediting each of his political appointees and condemning every executive order made by the Trump administration. Of recent, the information war and manipulation of public opinion has gone to a new high, with the CNN and other rogue press attacking each of Donald Trump’s speeches particularly the one he made at a Boeing Plant in South Carolina.

Now if I am asked this question, “Is Donald Trump right to make a media ban against negative media outlets?” I will say yes. The reason if very simple. It is either Donald Trump wins the war against bad media or they win him. It has to go either way. If Trump wants to win the war against negative news outlets then he must impose a media ban to stop them. Why does Trump deserve to win the war, Trump’s administration deserves to survive. He was voted in by the American public in a free and fair election. If the media wants to destroy him, then they have to be stopped.

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Tesla Inc. is looking for ways to save money in its solar energy business and this was just a few months before the electric vehicle maker planned to make solar panels and cells at their Buffalo gigafactory.

Tesla already has its hands full, after all, with its battery gigafactory’s opening in Nevada and the production of its more affordable sedan (Model 3), which is a $35000 electric vehicle whose failure or success will definitely have a huge impact on the future of Tesla.

Both the ventures, in their entirety, would take billions of dollars to be pulled off and the last thing that Tesla needs is another bank account drain and SolarCity is going to be just that.

Tesla’s CFO, Jason Wheeler said during a conference call on Wednesday that they are now prioritizing the cash preservation for that particular business.

There is still a plan to begin production this summer at its Buffalo factory, but the company is now pulling back on the spending on SolarCity. Tesla is cutting down SolarCity’s high costs on signing up new customers. It is now planning to cut advertising and sell products of SolarCity in their stores.

The earnings report that was highly anticipated showed that there are bigger challenges than SolarCity on Tesla’s plate. The acquisition of this money losing solar energy business was clearly a bailout for one of CEO Elon Musk’s cousins.

Although SolarCity is on its way to its own massive project as they prepare for the opening of the biggest factory of solar panels in the Western Hemisphere in South Buffalo this summer, the amount of funding required for that is going to pale as compared to billions Tesla needs for Model 3 and gigafactory.

Currently, Tesla has $3.4 billion cash on its books after the spending of about half of their expected $1 billion dollar spending in the fourth quarter to begin Model 3 production. But the balance of cash will likely drop very quickly as Tesla expects a spending of $2.5 billion this year for Model 3 and an untold amount of millions on the battery cell, energy storage, and pack production at its Nevada gigafactory.

Now Tesla is going to be put into a position where it has to decide how low it wants to draw its cash balance down before it would have to raise additional money from its investors. According to some analysts, the company will need to raise 1 to 2 billion dollars as the launch of Model 3, their first mass market vehicle, comes close.

Tesla’s share could be a powerful way in bringing in new capital with their stock going up since December by more than 40 percent. Some analysts even believe that Tesla could raise about $2.5 billion by selling more shares.

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Hewlett Packard Enterprise Inc. posted lower-than-expected Q1 results today and it looks like things are not getting aligned for the company. Many analysts feel that Meg Whitman, the Chief Executive is running out of excuses that she can give for her continuous failure since the time the company became an independent entity. This is the fifth quarter result since the split of Hewlett-Packard Enterprise (HPE) from Hewlett Packard (HP). HPE now deals with selling of software, tech services, and commercial computer systems, while HP deals with PCs and printers.

Whitman gave a statement after the results saying, “I believe HPE remains on the right track. The steps we’re taking to strengthen our portfolio, streamline our organisation, and build the right leadership team, are setting us up to win long into the future.”

The company gave an EPS (Earnings per Share) of 45 cents on the revenue of $11.41 billion, while the market expectation was 44 cents on $12.07 billion. The revenue of the company went down by 10% if we compare to the same quarter a year back. The company’s enterprise and computer services are a major concern as the sales in enterprise networking alone went down by 33% in this quarter.

The weak results led to the shares of the company tumbling by more than 6% in the after-hours trading.

The entire executive team including Whitman came out with a string of factors that they blame for the weak results this quarter. It includes currency fluctuations, order shortfall from a large, unidentified tier 1 service provider, and hard-to-get and expensive memory components.

They gave these reasons while replying to the analysts’ questions over a conference call.

Toni Sacconaghi, an analyst at Bernstein Research asked during the call, “Most people were aware of a much tougher commodity environment in November. In fact, your sister company HPQ had been calling that out well before November and had made provisions to adjust for that both in pricing and in building inventory. So I guess the question is, the only thing that really seems new, or that you shouldn’t have known about, was either the market changing or execution.

The Chief Financial Officer, Tim Stonsifer responded to this by saying that they were well aware of the prevailing currency environment and has in fact hedged themselves for it. This helped the company to sail through conveniently in the first quarter.

It’s high time that the management stops giving excuses and starts delivering.

 

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Fitbit has now decided to shift its focus. The company had failed to meet its target and financial goals for 2016. In order to achieve its goals, it has now decided to focus on the strategies in the services sector for healthcare and has come up with the idea of development of a smartwatch. This smartwatch will mark a departure for the San Francisco-based company, which had marked their start in the business by making the basic trackers for fitness that counted the number of steps.

The company had announced a revenue of 2.1 billion dollars for the year 2016, which was 1.9 billion dollar revenue in the year 2015. However, the saturation in the market started leading to a decline in the growth. Seeing the decrease in the demand, the company has expected the revenues in the year 2017 to go down by 20 percent to approximately 1.5 billion dollars from an initial 1.7 billion dollars. The analysts, however, had made the predictions of the revenue to go down by 2.4 billion dollars.

On Wednesday, a meeting had been called upon with the investors to discuss the earnings in the fourth quarter. James Park, the CEO of Fitbit confirmed that the company had not met with their financial goals for the year 2016 and to overcome this they will be investing capital in two main areas namely software that will help the user to keep tab with their fitness objectives and secondly a smartwatch. However, James Park did not give any information as to when the smartwatch will be launched. He also added that these steps will help the company to ignite its lost growth.

Fitbit had paid a sum of 23 million dollars in the last quarter of the year 2016 in order to acquire the assets of the smartwatch maker Redwood City Pebble. In addition to this, Fitbit also acquired the assets of Vector Watch, which is a European smartwatch maker for a sum of 15 million dollars. The company also bought Coin’s wearable payments technology.

Park said that these acquisitions have given the company a great foundation to make an extraordinary smartwatch that will perform operations more than the simple movement tracking and biometrics. He said the company will enable the smartwatch to deliver a more personal insight and motivate the consumers. He announced that Jeff Devine will be appointed as the new vice president.

Moreover, 6 percent of its total employees (that is approximately 107 people) will be laid off owing to the decline in the revenue for the year 2016. The executives of the company said that the sales of the company typically went down during the holidays and particularly on Black Friday.

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Tesla Inc. came out with its Q4 and full-year results on Wednesday and the company assured its investors that its Model 3 electric car, which is eagerly awaited, is right on schedule.

The executive analyst Michael Harley for Kelley Blue Book said, “Wall Street news aside, the real spotlight on Tesla remains its long-awaited Model 3. Musk has to take off his rose-colored glasses and focus on efficiently launching production of its most important vehicle to date. If the company can’t meet its output goals of 5,000 units per week by the end of 2017, which is highly optimistic considering the obstacles it has faced with prior model start-ups, the stumble may be the fall that breaks the company’s knees.”

The company put all such speculations to rest by saying that its new mid-market Model 3 is all set for initial production starting July this year with full volume production happening by September. There was speculation in the market that the Model 3 of Tesla has gone behind schedule.

For the Q4, the company lost 78 cents a share or $219.4 million on revenue of $2.3 billion. In the same quarter last year, Tesla lost $320.4 million, which comes to $2.44 a share on total revenue of $1.21 billion. As the company is working on its grand ambitions pumping in billions in capital investments under the leadership of Elon Musk, these losses were on expected lines.

Efraim Levy, an analyst working at CFRA Research said, “For Tesla, the story is not about today, the story is about tomorrow. It’s about the Model 3.”

It’s for the first time that the company, which is now Tesla and not Tesla Motors anymore, reported the results of the auto segment and sustainable energy segment together. Last year, it had acquired SolarCity, the solar panel installer for $2.1 billion. The numbers reported by the company on Wednesday, reflect the performance since the merger and hence has very little effect on the total results.

Post results, the CEO Elon Musk had a conference call with the analysts where he answered the questions on how the company plans to reduce the cost of its most awaited car. The target price of the car is between $35,000 and $45,000. Musk said that this vehicle is designed for manufacturing and hence it has all the options available for bringing the cost in the target zone.

The company also informed that the production of the battery packs has already started at its Gigafactory and soon they are going to add more Gigafactories.

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The officials are now planning to enter the closed Standing Rock camp site that is near the Dakota Access Pipeline following the arrest of ten people after the deadline for leaving the area expired. The North Dakota Gov. Doug Burgum stated that the rest of the 25 to 50 protesters who are holding out in the Oceti -Sakowin camp site will be left free without being arrested so that the contractors can actually continue cleaning up this protest site near the controversial 1,172 mile long pipeline.

Those people who refuse to go will definitely be arrested. Burgum stated that people who are remaining at the camp have a chance to voluntarily leave by taking their respective belongings or taking off anything that will be culturally significant and a team of members will assist these people in moving out. Those 10 people who were arrested on the highway outside the camp that is located near the Cannon Ball, North Dakota had actually refused the commands to leave and move out of the area, as stated by the officials. The authorities then went ahead and closed off the camp and did not let any vehicles to enter.

The arrests came during the end of the day without any issue after the police did not enter the camp. Around 100 odd protesters left voluntarily before 2 PM deadline that was set by Burgum. The protesters played drums, waved flags, and chanted as they left. At one point of time on Wednesday, some tents were actually set ablaze. The Tribal member Kaooplus Enimkla Thunder & Lightning stated that some of the tents were actually frozen into the ground and it had to really be burned in order to be removed. The other tribal members stated that the fires are generally a part of the tribal tradition. Burgum stated that a 17 year-old girl actually suffered some major burns and one 7 year old boy was badly injured from either the explosion or because of the control blaze at the camp.

Tom Iverson from North-Dakota Highway Patrol stated that anybody who is found trespassing, breaking the law or obstructing the work of the highway patrol will be arrested without a second warning. Iverson stated that the authorities had actually given the protesters an additional 2 hours to leave the site; however, they never left the place and hence they were arrested. He stated that the law enforcement was then confronted by these agitators that approached the law enforcement line and provoked the authorities. Iverson stated that the authorities were actually kind enough and gave the people numerous warnings to leave the place.

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The popular Snap Inc takes on the road at London this week for promoting the initial public offering with a very daring proposition, that is, it can actually build great hardware gadgets and also ad-friendly software features that can be a step ahead of Facebook. Not any longer just a purveyor of the smart phone application for the disappearing messages, Snap has now hired thousands of hardware engineers.

They have built a secretive product development lab and also scoured the landscape for the acquisitions as it now pursues the newly stated ambition of being a camera company. These efforts that are aimed at the development of hardware and the so-called technologies like augmented reality are actually central to the strategy of the firm that is looking for a valuation of nearly $22 billion in the early March IPO in spite of heavy losses and also the specter of tough competition for advertising dollars with the much-larger Facebook.

There is very little precedent for a firm with its foundation in software and the social networking succeeding in a very hard consumer hardware business. Just some U.S. firms apart from Apple have actually made major profits on the hardware, and the wearable gadget makers and camera makers have actually had very little valuations than what Snap is seeking.

On a broader term, to create new products as well as features that do have the mass-market appeal and that which cannot be actually easily mimicked is actually a huge challenge.

Paul Meeks, the CIO (Chief Investment Officer) – Dahl & Holst –a company that manages nearly $1 Billion in assets, stated that Snapchat will have to be highly innovative as well as distinctive.  He added that it is really going to be hard to compete with Facebook. Snap initially signaled the new focus with its September reveal of spectacles and funky sun-glasses that come with an embedded video camera in order to post to the Snapchat app. The firm spent around $184 million on R&D last year, almost half the revenue.

Augmented realty, which means the computer generated images that is overlaid on to the real surroundings and that is viewed via smartphone or special glasses, is a major component of this plan. Snap’s Lenses (the feature of image overlay) has been a big hit and it generally gives Snap the advertising format that is pretty unique.

Nabil Elsheshai – the Senior Equity Analyst – Thrivent Financial stated that if a longer term bet has to be made on snap, then it has to come up with products that are really innovative, the ones that Facebook cannot actually copy.

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On Sunday evening, Susan Fowler — now working at Stripe, a payment company circulated an article asserting that Uber’s HR representatives overlooked different reports of lewd behavior and sexism amid her year-long stretch at the cab-hailing organization.

In light of her exposition, calls to #deleteUber — a hashtag that picked up steam when individuals thought the auto hailing administration was attempting to benefit off the backs of cab drivers challenging President Donald Trump’s travel— have sprung up on Twitter once more. Uber’s CEO Travis Kalanick ventured down from a Trump admonitory board because of the intense reaction sparked by a multitude of complaints.

The #deleteUber has affected the business of Uber; they reported that more than 200,000 people had deleted their Uber account, albeit different sources said the number was much higher.

So, it’s nothing unexpected that Uber CEO Kalanick reacted hastily to the Fowler tweets. He wrote, “I have just read Susan Fowler’s blog. What she describes is abhorrent and against everything Uber stands for and believes in,” and claimed it was the “first time this has come to my attention. We seek to make Uber a just workplace, and there can be no place for this kind of behavior at Uber — and anyone who behaves this way or thinks this is OK will be fired.”

He additionally said the organization’s recently employed head of HR, Liane Hornsey, will dispatch an independent investigation concerning Fowler’s case. Hornsey, a former top-positioning Google HR executive, took controls from the previous head of HR Renee Atwood, who left after more than over two years at Uber.

Several other employees who were previously working for Uber emphasized that the organization’s HR division was not managed properly and their main attention was towards recruiting and firing employees. Some said they reported several issues in their workplace to the HR department and got similar treatment as Fowler.

Fowler also told that her manager undermined to terminate her if she ever reported about him to HR again — this is known as retaliation back and is illicit as per work policies. Fowler then wrote that she made Uber’s CTO, Mr. Thuan Pham mindful that her manager was debilitating to take revenge against her – to which he accredited as illegal. In any case, nothing was done about it, Fowler wrote.

 

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