|Day's Range||151.40 - 151.40|
Beyond Meat, Tesla, Google, Microsoft and Uber are the companies to watch.
Some prominent market personalities, such as Leon Cooperman, chair and CEO of Omega Advisors, feel that the Fed's rate cut decision was unnecessary.
Amazon placed a bulk order for 100,000 electric delivery vans from Rivian. Amazon plans to phase out its current diesel vehicles in a systematic manner.
Yesterday, Morgan Stanley analyst Adam Jonas provided his thoughts on Tesla while maintaining his rating and target price on its stock.
Since Porsche launched the Taycan, Tesla has been trying to prove its supremacy in terms of various features. It recently revealed its upcoming Plaid Mode.
Earlier this year, the National Labor Relations Board required Tesla to post signs in its Fremont factory reminding workers that they could participate in union-related acts.
Sanjay Shah has more than 25 years of experience in operations, manufacturing, engineering, and supply chain management and will now oversee Beyond Meat's global operations and production, the company said in a press release. Prior to joining Beyond Meat, the executive served as Senior Vice President of Energy Operations at Tesla where he led the company's worldwide Energy business for about a year. Prior to Tesla, Shah worked from 2011 to 2018 at Amazon.com, Inc. (NASDAQ: AMZN) and served as a Vice President of North American Fulfillment Centers. At first glance, it may seem Shah's transition from tech giants to a plant-based foodmaker is a mismatch in skills and experience.
No one has more to say about almost everything than (ORCL) (ORCL) founder Larry Ellison. Ellison, the company’s executive chairman and chief technology officer, and one of the richest people on Earth, has become even more important to Oracle’s day-to-day operations recently, given the recent announcement that co-CEO Mark Hurd is taking time off to deal with a medical issue. In connection with the conference, Oracle assembles a group of entrepreneurs the company supports under a program called Oracle for Startups.
A new Morgan Stanley report outlines how the aerospace company could disrupt the global internet industry with 12,000 satellites.
(Bloomberg Opinion) -- The world economy is turning toward a depressingly familiar cycle of lower rates, renewed quantitative easing and more fiscal stimulus. The return to a persistent semi-slump in advanced economies is likely to increase interest in universal basic income, or UBI – an idea supported by Democratic presidential contender Andrew Yang and business figures from Facebook Inc.’s Mark Zuckerberg to Tesla Inc.’s Elon Musk. If adopted, this radical prescription is unlikely to prove a magic bullet.Advocates argue that guaranteeing every individual a flat-rate payment irrespective of circumstances will help to address the poverty traps inherent in traditional welfare systems, the declining share of income going to labor, and increasing threats to employment from automation. Yang, a tech entrepreneur and an outsider for the Democratic nomination, proposes giving $1,000 a month in cash to every American and has made the plan a key talking point in candidate debates.The concept isn’t new. It was first suggested by Sir Thomas More in his 16th century work “Utopia,” and was championed by free-market economists such as Friedrich Hayek and Milton Friedman in the 20th century. In a national referendum in 2016, Switzerland rejected a proposal to establish a universal basic income.The case for UBI is that it can increase the efficiency of welfare systems by minimizing bureaucracy, the administrative costs of delivery, and drainage of resources through political exploitation or benefit fraud. Trials in Finland, Canada and India have been inconclusive, showing psychological improvements among recipients but limited success in achieving economic or social objectives. Critics point to the financial constraints of funding such programs. In the U.S., $1,000 per month per person would equate to a total cost of around $4 trillion per year, approximately the size of the 2018 federal budget. The Organization for Economic Co-operation and Development found that income tax would have to increase by almost 30% to fund a modest UBI.The key to the proposal’s renewed political appeal is how it could neutralize rising criticism of QE, which has disproportionately benefited the wealthy by driving up the prices of financial assets. UBI funded by new rounds of central bank purchases of government bonds – branded as “QE for the people” – may be a more palatable way to return to monetary stimulus.UBI would allow for the introduction by stealth of “helicopter money,” a controversial proposal for central banks to print money and distribute it to consumers to boost growth and inflation. The idea covers a wide range of policies including the permanent monetization of budget deficits and direct transfers to households financed with base money. Friedman outlined the concept in his 1969 parable of dropping money from a helicopter. If everyone is convinced that this is a unique, non-repeatable event, then it is assumed they will spend the money, increasing economic activity. The concept generated revived interest in recent years as a means of preventing deflation. There’s a telling link between universal basic income and modern monetary theory, an unconventional economic approach that’s been gaining ground with politicians. MMT, loosely, argues that a state cannot go bankrupt where it can print its currency – a version of the argument that deficits don’t matter. Under MMT, governments should borrow and spend when demand is inadequate to move the economy to full employment. It provides theoretical cover for governments to issue debt to central banks in greater amounts than hitherto contemplated. This can then finance spending programs – such as a universal basic income – to maintain economic activity.Whether a guaranteed minimum income can produce economic recovery is questionable, though. It’s a repackaging of existing approaches that have had limited effectiveness. There’s little new in central banks financing governments via QE or fiscal stimulus, including welfare spending. It doesn’t address key structural issues such as excessive debt, imbalances, wage levels and demographics. Adoption of such an approach would also mean the economy becomes dependent on government intervention to sustain activity. A universal basic income financed by helicopter money may perversely increase uncertainty. Ordinary people may react to unlimited money printing by shutting their wallets and hoarding. Australia’s recent “cash back” program, which provided up to A$1,080 ($740) to taxpayers earning less than A$126,000, doesn’t appear to have offset pessimism about the outlook.That’s unlikely to deter more countries from embracing such solutions. The reality is that existing policy is increasingly constrained. Significant debt restructuring and writedowns as well as acceptance of lower growth and stagnant or diminishing living standards is unacceptable. Policymakers will be desperate to show that there are more tools to stave off loss of confidence in their powers.Friedman believed that policies should be judged by results, not intentions. Unfortunately, the continued lure of a painless and easy solution to economic problems dictates that universal basic income will remain on the political agenda. To contact the author of this story: Satyajit Das at firstname.lastname@example.orgTo contact the editor responsible for this story: Matthew Brooker at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Satyajit Das is a former banker and the author, most recently, of "A Banquet of Consequences."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Beyond Meat announced Thursday afternoon that former Amazon.com and Tesla executive Sanjay Shah will be the meat-alternative company’s chief operating officer.
Beyond Meat Inc. announced Thursday afternoon that former Amazon.com Inc. and Tesla Inc. executive Sanjay Shah will be the meat-alternative company's chief operating officer. Shah was most recently senior vice president of Tesla's solar business, a role he took on in 2018, though Bloomberg News reported last month that he was no longer in charge of the unit. He went to Tesla from Amazon, where he served in a variety of roles from 2011 to 2018. "Sanjay's focus on making operational excellence a sustained competitive advantage, his experience in and appetite for global expansion, along with shared values and a tireless work ethic, makes him a welcome addition to the Beyond Meat family," Beyond Meat Chief Executive Ethan Brown said in Thursday's announcement. As COO of Beyond Meat, Shah will be responsible for the company's global operations and production. In a filing with the Securities and Exchange Commission, Beyond Meat said that Shah would receive a $450,000 sign-on bonus and stock awards totaling $7 million, with $3.5 million in shares vesting on the first anniversary of his hire and the rest vesting on a quarterly basis through his second year. Shah will have a $440,000 annual salary and a targeted bonus of 50% of his salary, and be able to purchase additional shares.
Beyond Meat, Inc. said Thursday it has hired Sanjay Shah, formerly senior vice president of energy operations at Tesla Inc. as its chief operations officer. Shah was at Tesla for just over a year. The electric automaker has seen high turnover in its executive ranks as it has ramped production of its Model 3 and begun construction of a huge new production plant in China.
Morgan Stanley analyst Adam Jonah says the company could triple its lineup of vehicles, a move that he said would expand the market Tesla addresses.
While top U.S. auto giants General Motors (GM) and Ford (F) issue vehicle recalls recently, recreational vehicle manufacturer Winnebago Industries (WGO) inks a deal to buy Newmar.
The Tesla Inc.'s 2019 Model 3 got a top safety award from an insurance group on Thursday. The all-electric sedan joins the Audi e-tron, also electric, and the Hyundai Nexo, a fuel-cell vehicle, that had recently qualified for the award. General Motors Co.'s Chevrolet Bolt did not qualify because its headlights "cause too much glare," the Institute for Highway Safety, or IIHS, said. "Vehicles with alternative powertrains have come into their own," IIHS Chief Research Officer David Zuby said. "There's no need to trade away safety for a lower carbon footprint when choosing a vehicle." Shares of Tesla rose 1% in midday trading and are down 26% for the year, contrasting with gains of 20% for the S&P 500 index .