|Day's Range||117.50 - 118.10|
Elon Musk is purportedly driving, but it's not confirmed that he was behind the wheel while this video was filmed. According to U.S. regulations, passenger vehicles need to have a mirror inside and one on the driver’s side of the vehicle. When Musk unveiled the Cybertruck, he stated that the vehicle used a video camera for the rear-view camera, which is something other automakers are trying as well.
Elon Musk’s company wants to mount lasers on its cars. Even if the technology doesn’t work, the patent application illustrates one thing: Tesla is a master at generating buzz.
Tesla's long-term vision of selling a diverse fleet of electric cars at multiple price points is well understood by investors. Investors were worried about production issues as little as three months ago.
The Dow Jones was under mild selling pressure along with the other major stock indexes Monday as Wall Street eyed the Dec. 15 China tariff deadline.
(Bloomberg) -- Another Tesla Inc. vehicle operating on the carmaker’s driver-assistance system branded as Autopilot has crashed into a parked emergency vehicle, eliciting fresh warnings about the shortcomings of automated technology on public roads.A Tesla Model 3 sedan hit a parked police cruiser with its hazard lights flashing on a major highway near Norwalk, Connecticut, over the weekend. The collision occurred around 12:40 a.m. local time Saturday, when a highway-patrol vehicle stopped to assist a disabled SUV in the left-center lane of Interstate 95, according to a Connecticut State Police report.“When operating a vehicle your full attention is required at all times to ensure safe driving,” the state police wrote Saturday in a Facebook post. “Although a number of vehicles have some automated capabilities, there are no vehicles currently for sale that are fully automated or self-driving.”A similar incident last year in which a Tesla Model S slammed into the rear of a fire truck on a Southern California highway triggered an investigation by the U.S. National Transportation Safety Board. While neither crash resulted in injuries, both raise questions about the use and limitations of advanced driver-assist technology that can struggle to detect stationary objects.There’s no indication at this time that the NTSB’s Office of Highway Safety intends to investigate the latest crash, a spokesman for the agency said in an email. Representatives for Tesla didn’t immediately respond to requests for comment.On Saturday, the 2018 Model 3 was traveling in the same lane as the parked police cruiser, which it hit before continuing on and damaging the bumper of the disabled Jeep. The rear end of the police cruiser and front end of the Model 3 sustained “heavy” damage, but the state trooper was outside the police car at the time of the accident, according to the police report.The driver of the Tesla told police his car’s Autopilot feature had been activated and he was not facing forward -- he was checking on his dog in the back seat, according to the state police’s Facebook post. Police issued him a ticket for first degree reckless driving and endangerment.Tesla releases quarterly reports that it says indicate drivers using Autopilot are safer than those operating without it. The company also has said the system repeatedly reminds drivers they are responsible for remaining attentive and prohibits the use of Autopilot when warnings are ignored.(Updates with NTSB spokesman’s comment in fifth paragraph.)\--With assistance from Ryan Beene.To contact the reporter on this story: Chester Dawson in Southfield at email@example.comTo contact the editors responsible for this story: Craig Trudell at firstname.lastname@example.org, David WelchFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
“Musk is a product of our age. Entitled, arrogant, unbelievably rich and powerful, he reckons normal rules don’t apply to him,” Shard Capital strategist Bill Blain wrote in a note on Monday.
The driver of the Tesla Model 3 said he had turned on the car’s Autopilot feature and was checking his dog when his car rear-ended the police car, and then also hit a stalled car. There were no serious injuries.
A Tesla Model 3 on auto-pilot early Saturday morning crashed into two vehicles — one of them belonged to the Connecticut State Police. The driver explained that he was checking on his dog in the backseat.
U.S. stocks edged lower at the opening bell on Monday ahead of a busy week packed with meetings by the Federal Reserve and the European Central Bank. Investors are also on the lookout for signs of easing trade tensions ahead of the Dec. 15 deadline for additional duties on Chinese imports. The S&P 500 was down 0.1% to 3,142. The Dow Jones Industrial Average shed 50 points, or 0.2%, to around 27,965. The Nasdaq Composite was up by less than 0.1% to 8,659. Major stock-market benchmark indexes remain less than a single percentage point away from their record closes set on Nov. 27. In company news, shares of Tesla Inc. were in focus after reports said that a Tesla Model 3 crashed while on autopilot.
Tesla Inc (NASDAQ: TSLA) CEO Elon Musk took his new wheels out for a spin in Los Angeles, marking the first time he publicly drove a prototype well before release. The monstrous Cybertruck drew gawkers — including A-List celebrities like Edward Norton — in the Nobu parking lot before Musk hopped in the driver’s seat, his musician girlfriend, Grimes, got in the passenger’s seat, and the clunky truck sped away, leaving an over-turned traffic cone in its wake. Over the weekend, it was spotted outside Los Angeles International Airport and on the I-405.
What’s it like to drive a $210,000 car with 600 horsepower and 465 foot-pounds of torque that can go zero to 60 in about three seconds? It’s fun.
Alphabet’s Waymo unit is the clear leader in the race for autonomous driving leadership, according to a team of analysts at Wedbush.
Luca Parmitano, commander of the ISS, used a large robot arm to capture the SpaceX Dragon on Sunday, Dec. 8. “Whenever we welcome a new vehicle on board, we take on board also a little bit of the soul of everybody that contributed to the project, so welcome on board,” said the Italian astronaut Luca, according to the CNBC report. The Dragon launched on Thursday, Dec. 5 was carrying over 5,700 pounds of NASA cargo, including 40 mice for a muscle and bone experiment.
U.S. stock futures slip ahead of what is set to be a major week of event risks; the Federal Reserve meets Tuesday and Wednesday; Amazon grows its New York footprint.
(Bloomberg) -- China’s third-richest man is set to get a $2 billion cash windfall.Hui Ka Yan, chairman of China Evergrande Group, will pocket the money after the property developer and electric-car wannabe declared a record dividend for fiscal 2018.The board proposed a 1.42 yuan per-share payout for the year ended Dec. 31, according to a statement late Sunday. That would total 18.7 billion yuan ($2.7 billion), and with a 78% stake in the company, Hui will get the lion’s share.Evergrande shares rose 3.3% in morning trading in Hong Kong, paring this year’s decline to 13%.The 61-year-old company founder didn’t take a salary last year, and was paid the equivalent of about $34,000 in fees. However, he’s worth $27.5 billion, according to the Bloomberg Billionaires Index.Read more: Musk’s Latest Challenger Is a Politically Savvy Chinese TycoonEvergrande has poured billions of dollars into acquisitions as Hui pursues an ambition to make the company the world’s biggest maker of electric cars in the next three to five years.The cash burning foray into electric-cars comes as Evergrande’s net debt-to-equity ratio hovers around 153%, one of the highest among Chinese developers.What Bloomberg Opinion says:Evergrande’s dividend “is set to further aggravate its cash crunch. The confluence of weak first-half sales, falling cash collections, and cash burn from its electric-vehicle foray means Evergrande will struggle to shake off enough net debt to hit its target -- 70% of equity -- by mid-2020.”\--Kristy Hung, banking & real estate analystTo read the full report, click hereSo far, Hui doesn’t have much to show for all his grand plans, last month vowing to unveil a debut car by June 2020 -- a year later than first promised.Not only does that pit him against Elon Musk’s Tesla Inc., which has been churning out EVs for years, but also all the world’s major automakers, which are plowing tens of billions of dollars into EV production and research. Evergrande will also be entering a crowded local field at a time sales are slumping as the government reduces subsidies.The proposed dividend translates to a 50% payout ratio of the developer’s 37.4 billion yuan profit last year, the same since its listing. Shareholders will vote whether to approve the dividend at an extraordinary general meeting Jan. 15.Evergrande had deferred a decision on the 2018 dividend twice since March, partly to comply with Chinese regulatory rules as it pursues a back-door listing on the mainland for its real estate assets.The dividend is expected to be paid on or before Feb. 26, 2020, if it is approved by shareholders.While Evergrande has delayed dividend payments for the past three fiscal years, it indicated the fiscal 2019 payout will be made after it releases its annual report in March 2020.(Updates with share price in fourth paragraph.)To contact Bloomberg News staff for this story: Emma Dong in Shanghai at email@example.comTo contact the editors responsible for this story: Katrina Nicholas at firstname.lastname@example.org, Peter VercoeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- When U.S. prosecutors charged an Apple Inc. engineer in January with stealing trade secrets for a Chinese startup, a search of his home turned up something else, they said: a classified file from the Patriot missile program that belonged to his ex-employer, Raytheon Co.The discovery has added a striking national security wrinkle to an otherwise routine corporate espionage case, and the government says it merits keeping Jizhong Chen under close scrutiny.The Patriot document was discovered among numerous electronic devices and paper files from Chen’s former employers including General Electric -- some of which were stamped “confidential,” according to prosecutors.Chen, a U.S. citizen who was arrested on his way to catch a flight to China, is awaiting trial on charges that he collected photos, schematics and manuals from his work on Apple’s tightly guarded self-driving car project as he prepared to take a job with an unidentified rival.He has pleaded not guilty and remains free on $500,000 bail. But prosecutors argue the stash of sensitive data found in Maryland justifies subjecting him to location monitoring with an electronic device so he doesn’t disappear before his trial.Lawyers representing Chen and a second former Apple engineer facing similar charges -- who is also fighting prosecutors over the need for location monitoring -- contend the government is exaggerating the risk they’ll try to flee.The 2011 document relating to one of Raytheon’s best-known weapons was so secret that it “was not (and is not) permitted to be maintained outside of Department of Defense secured locations,” prosecutors said in an Oct. 29 filing that hasn’t previously been reported on by the media. Chen “has, for over eight years, illegally possessed classified national security materials taken from a former employer.”How a classified document ended up at an engineer’s home raises provocative questions, but they’re unlikely be answered in open court at a hearing set for Monday. A prosecutor and an attorney for Chen both declined to comment ahead of the hearing. A Raytheon spokeswoman didn’t respond to a request for comment.Read More: Tesla to Apple: Help Us Nail Robocar-Secrets Thief at China FirmAfter prosecutors first raised concerns about the evidence they found in Maryland, a magistrate judge agreed in March to extend an electronic monitoring requirement to give the government time to investigate. She finally ordered an end to the monitoring in October -- and prosecutors are now asking a district judge to overrule her.Lawyers for Chen say prosecutors have had enough time to present further evidence of criminal conduct. They also note that the federal office that supervises defendants on probation has concluded monitoring is no longer necessary because Chen has complied with all the conditions of his release and found full-time employment.Daniel Olmos represents both Chen and Zhang Xiaolang, who also worked on Apple’s autonomous driving project before he was arrested in July 2018 and accused of trying to take the company’s trade secrets to China-based XMotors. The lawyer makes an argument that goes to the heart of the cases against both men: There’s no evidence that Apple’s intellectual property was shared with a third party. That’s significant because possession of the information alone isn’t necessarily a crime.Olmos also contends that each of the engineers has strong ties in the U.S. and the trips they were about to take to China when they were arrested were planned for the purpose of visiting relatives, not escaping prosecution.“The government’s argument that Mr. Zhang poses a flight risk because he is a Chinese citizen is insufficient to warrant GPS monitoring,” Olmos said in a filing. “Mr. Zhang has full-time employment, a new family, and no travel documents.”The cases are U.S. v. Chen, 19-cr-00056, and U.S. v. Zhang, 18-cr-00312, U.S. District Court, Northern District of California (San Jose).To contact the reporters on this story: Peter Blumberg in San Francisco at email@example.com;Robert Burnson in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: David Glovin at email@example.com, Anthony Lin, Peter BlumbergFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Benzinga has examined the prospects for many investor favorite stocks over the past week. Bullish calls included e-commerce, electric vehicle and semiconductor leaders. Bearish calls included video streaming giant and biotech giants.
Elon Musk won his defence against a charge of defamation on Friday afternoon, when a jury in Los Angeles found for the Tesla boss after less than an hour of deliberation. Vernon Unsworth, a British diver, had sought $190m in damages over tweets Mr Musk sent last year that included calling him “pedo guy”. “My faith in humanity is restored,” Mr Musk said as he left the court.
Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has won this battle. A Los Angeles jury on Friday ruled that Musk's use of Twitter to suggest a British spelunker was a pedophile didn’t amount to defamation. Musk has defended himself saying that “pedo guy” is a common insult in South Africa, where he grew up, and that Musk didn’t intend to accuse Unsworth of pedophilia with the words.
(Bloomberg) -- Elon Musk beat back a defamation claim from a British cave expert who sued the billionaire CEO over a tweet in which Musk labeled Vernon Unsworth a “pedo guy.”A federal jury in Los Angeles Friday took about an hour to return a verdict that said Musk’s insult fell short of defamation.“We were pretty much unanimous from the word ‘go,”’ said Carl Shusterman, a 70-year-old immigration lawyer who served on a jury for the first time.Shusterman said the verdict was straight-forward because it wasn’t clear if the tweet was actually about Unsworth, since Musk didn’t name him. The judge told the jurors that was one of the elements required to establish defamation, Shusterman said.“My faith in humanity has been restored,” Musk said after the verdict.It’s another win for Musk, 48, who’s managed to get out of legal trouble relatively unscathed. Musk agreed to step down from his role of chairman of Tesla Inc. for three years in 2018 to settle a U.S. Securities and Exchange Commission lawsuit over a tweet the regulator said misled investors. But he’s run Tesla and SpaceX as usual.“It’s the last formal distraction from when Elon Musk went off the Twitter rails in 2018,” said Gene Munster of Loup Ventures. “Putting that to rest -- regardless of what the jury decided --is a step forward for Musk.”Unsworth had sought $190 million in damages for the harm he claimed to have suffered from the tweet, and to punish Musk. Musk said he fired off the tweet in anger after Unsworth insulted him and his team in a television interview.“I respect the jury’s decision,” Unsworth said after the verdict. “I’ll take it on the chin and move on.”His lawyers were less gracious, repeatedly referring to Musk as a “billionaire bully.”L. Lin Wood, one of Unsworth’s lawyers, said he wasn’t happy with the outcome. “He deserved a different kind of justice,” Wood said. Wood said he hasn’t decided whether to appeal the verdict.The four-day civil trial featured Wood and Alex Spiro -- two heavyweights squaring off in the courtroom. Wood had represented Richard Jewell, the security guard falsely accused of being connected to the Centennial Olympic Park bombing during the 1996 Summer Olympics.Spiro, a former prosecutor based in New York, lists rapper Jay-Z, New England Patriots owner Robert Kraft and several NBA players, including ex-Knick Charles Oakley as former clients.Spiro issued a five-word statement after the verdict.“The jury got it right,” he said.It was the first time that Musk has been called as a witness at a trial, despite numerous legal spats, including one with the U.S. Securities and Exchange Commission over a tweet the regulator said misled investors.Musk told the jury the tweet aimed at Unsworth shouldn’t have been taken literally and was sent because the caver insulted his effort to help rescue members of a Thai soccer team from a flooded cave in 2018.The rescue effort had riveted the attention of the world’s media. Musk and engineers at his companies prepared a mini submarine, built with rocket parts, to help. The kids, aged 11 to 16, were saved without the use of the sub.The high-profile effort from the celebrity CEO drew derision from Unsworth, who knew the caves well and helped in the rescue effort. He told CNN that Musk could “stick his submarine where it hurts” and that it had no chance of working.Musk responded on Twitter, calling Unsworth a “pedo guy” and adding: “Never saw this British expat guy who lives in Thailand (sus) at any point when we were in the caves.” Sus -- meaning suspect, or suspicious.Later, he asked why Unsworth hadn’t sued him. Musk also hired a private investigator to dig into Unsworth’s personal life and leak information to British tabloids.Unsworth, a financial consultant who divides his time between England and Thailand, described to the jury the effect the tweet had on him.“When you combine ‘sus’ and ‘pedo guy,’ I took it as I was being branded a pedophile,” Unsworth said on Wednesday. “I feel vulnerable and sometimes, when I’m in the U.K., I feel isolated.”490 StoriesIt was a tweet heard around the world. An expert witness for Unsworth told the jury that 490 English-language stories were published mentioning the “pedo guy” tweet -- not including stories about the litigation.Musk, who had apologized to Unsworth on Twitter, did so again in court. But Unsworth told the jury he had nothing to apologize for to Musk.Musk told the jury he found Unsworth’s comments in the CNN interview wrong and insulting -- especially to his team which he said worked hard to help in the rescue effort -- and so he fired back.“I thought he was just some random, creepy guy that the media interviewed,” Musk said of Unsworth.Neither man impressed Shusterman, the juror. He said there was no need for Unsworth to put down Musk’s mini submarine, and Musk’s response was equally immature.“I felt it was like two junior high school students fighting,” Shusterman said.(Updates with juror’s comment in third paragraph)To contact the reporters on this story: Edvard Pettersson in Los Angeles at firstname.lastname@example.org;Kelly Gilblom in London at email@example.com;Dana Hull in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Craig Trudell at email@example.com, Joe Schneider, Steve StrothFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.