Tesla revenue misses estimates as price cuts dent profit
Tesla Inc said on Tuesday its second-quarter profit margins fell as price cuts and stimulus measures to combat sluggish demand continued to weigh on profits even as it stepped up efforts to push self-driving technology. Elon Musk’s Tesla Inc.’s second-quarter gross profit margin for its auto division was 14.65% excluding regulatory deductions, beating expectations of […]
Tesla’s quarterly results miss estimates after price cuts hit bottom line
Constellation Research founder R Ray Wang analyzes Tesla and Google at Varney & Co. Tesla Inc. on Tuesday reported second-quarter profit margins that fell short of analysts’ expectations as the company ramps up efforts in self-driving technology while price cuts and incentives to stimulate sluggish demand continued to weigh on profits. Tesla’s second-quarter auto gross […]
Biden Admin Cuts Multi-Billion Dollar Check To Push ‘Community-Driven’ Green Projects All Over America
The Biden administration announced Monday that it is sending billions of dollars across the country to advance climate change-related projects. The Environmental Protection Agency (EPA) said Monday that it is sending a combined $4.3 billion to help fund 25 applicants build “community-driven” climate projects across 30 states. The projects include electric vehicle (EV) charging station […]
Aussie, kiwi dollars struggle on China's rate cuts; dollar adrift By Reuters – Investing.com
By Ray Wee SINGAPORE (Reuters) – The Australian and New Zealand dollars languished near multi-week lows on Tuesday after China cut several key interest rates, while the greenback was little changed awaiting fresh stimulus measures. China surprised markets on Monday by cutting key short- and long-term interest rates for the first time since August last […]
More Biden-Harris Chaos = Fewer Fed Cuts
Biden declines, Fed to close in September The announcement was President Biden has suspended his campaign With President Trump seeking a second term, the Federal Reserve will be under pressure to hold off on raising interest rates until after the election. The U.S. economy currently appears to be growing at a healthy pace in the […]
Buffett's Berkshire Hathaway cuts stake in Bank of America – Yahoo Finance
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Mortgage rates lower as talk of interest rate cuts intensify: Freddie Mac
Mortgage rates are falling, but borrowers are hesitant in hopes that rates will fall further. (iStock) Mortgage rates fell further this week on reassurance that strong economic data and favorable inflation reports may finally lead the Federal Reserve to cut rates. According to Freddie Mac’s latest report, the average 30-year fixed-rate mortgage for the week […]
Mort Zuckerman Cuts Off Funding to Columbia over Antisemitism
Billionaire philanthropist Mortimer “Mort” Zuckerman this week suspended his funding for Columbia University over its perceived failure to address anti-Semitism and anti-Israel extremism on campus since October 7. Washington Free Beacon report: Mortimer Zuckerman, the billionaire philanthropist, cut off millions of dollars in funding to Columbia University, citing the university’s failure to address rising anti-Semitism. […]
WTI Crude Soars on Tailwinds of Saudi July Export Cuts – OilPrice.com
West Texas Intermediate (WTI), the U.S. benchmark, rose more than 2.9 percent, while Brent rose only half that amount on the day after the EIA reported a larger-than-expected fall in U.S. crude oil inventories and the U.S. dollar weakened. U.S. crude oil inventories have fallen by more than 20 million barrels in the past three […]
Trump warms to Powell ahead of potential rate cuts: 'I would let him serve it out'
With interest rate cuts on the horizon and the economy turning around from its post-pandemic slump, former President Trump has warmed to Federal Reserve Chairman Jerome Powell, whom he has frequently criticized since nominating him to lead the U.S. central bank in 2017. “I intend for him to complete his term,” Trump said in the […]