Month: June 2020

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Having pulled ahead in the race to develop a software-based vehicle operating system, U.S. electric car pioneer Tesla faces a new challenge from an alliance of German luxury carmaker Daimler and U.S. computer graphics specialist Nvidia. Daimler and Nvidia unveiled a deal on Tuesday to develop and equip the German company’s Mercedes-Benz cars with a next-generation chip and software platform that could eventually be used to help vehicles drive by themselves. The move is a response to Tesla’s ability to integrate custom designed chips with thousands of lines of code, which has allowed the Silicon Valley-based company to …read more […]

The Boston-based Institute for Clinical and Economic Review (ICER), however, suggested a lower price range of around $2,520 to $2,800, if steroid dexamethasone were to be cleared for use in COVID-19. What Gilead could charge for remdesivir after its pledged donations are used up has been a topic of intense debate as millions of infections crop up across the country. …read more […]

The Federal Aviation Administration (FAA) on Wednesday finalized a directive requiring airlines to complete inspections of a key component of Boeing 737 MAX airplanes that, if faulty, could result in a loss of power to the engines. The FAA, in response to a service bulletin issued by Boeing in December, proposed an airworthiness directive in February to mandate inspections. The directive addressed concerns that some 737 MAX exterior panels on top of the engine may not have electrical bonding necessary to ensure adequate shielding of underlying wiring from the electromagnetic effects of high-power radio frequency transmitters and …read more […]

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Crude inventories rose by 1.4 million barrels in the week to June 19 to 540.7 million barrels, the EIA said. Crude inventories also hit another record high on the Gulf Coast, where the bulk of the nation’s refining capacity is located. U.S. crude futures dropped 3.8%, or $1.54, to $38.83 a barrel by 10:48 a.m. ET (1448 GMT), while Brent was down 3.9%, or $1.67, at $40.96 a barrel. …read more […]

Value Investor Insight is an investment newsletter created by money manager Whitney Tilson and John Heins. Value Investor Insight aims to deliver the highest-quality investment ideas, analysis, and insight to the just-starting-out investor and sophisticated investors. At the core of Value Investor Insight is the philosophy of the true value investor: buy something only for […] …read more […]

(Bloomberg) — Tencent Holdings Ltd.’s $40 billion surge this week and the recent ascent of Pinduoduo Inc. have reshuffled the ranking of China’s richest people.The country’s largest game developer has surpassed Alibaba Group Holding Ltd. as Asia’s most-valuable company, with its shares rising above HK$500 in intraday trading Wednesday for the first time. Pinduoduo, a Groupon-like shopping app also known as PDD, has more than doubled this year.The rallies have propelled the wealth of their founders, with an added twist: Tencent’s Pony Ma, worth $50 billion, has surpassed Jack Ma’s $48 billion fortune, becoming China’s richest person. And Colin Huang …read more […]

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Yahoo Finance’s Alexis Christoforous and Brian Sozzi discuss the upward trend of confirmed cases of COVID-19 in the United States and how contact tracing can help to stop the spread with NYU School of Global Public Health associate professor of epidemiology Danielle Ompad, PhD. …read more […]

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The agreements would involve the development of new utility-scale solar installations in several counties, the lender said in a statement. Wells Fargo has been meeting all its annual global electricity requirements with renewable energy since 2017 and is now working to set up longer-term contracts and increase power generation from on-site renewable sources. …read more […]

Shares in Dell Technologies (DELL) spiked 14% in pre-market trading on a report that the PC maker is mulling a spinoff of its roughly $50 billion stake in cloud computing software maker VMware Inc. (VMW)The stock surged to $55.90 in pre-market trading. Meanwhile, VMware shares rose 8.8% to $162.39.Dell is exploring the possibility of divesting the stake or taking other steps that could include buying the rest of the cloud-software giant, the Wall Street Journal reported. The companies are working with outside advisers on a number of scenarios.However, the report also stated that the evaluation deliberations are at an early …read more […]

The U.S. National Highway Traffic Safety Administration (NHTSA) said Tuesday it had opened an investigation into 63,000 Tesla Model S cars after reports of media control unit failures that led to loss of the use of a touchscreen. The complaints said the media control unit failures allegedly fails prematurely due to memory wear-out. NHTSA said Tesla used the same unit in 159,000 2012-2018 Model S and 2016-2018 Model X vehicles built by Tesla through early-2018. …read more […]