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As U.S. student debt continues to rise, people are looking for alternative options like Holberton. It's a two-year program that charges no upfront tuition; instead students are required to pay back a certain percentage of their salaries over the course of 3 years after graduation. One notable investor in the school is Grammy award-winning artist Ne-Yo. Holberton School co-founder Sylvain Kalache and Ne-Yo joins On the Move to discuss.
(Bloomberg) -- Tesla Inc. has lost its third general counsel in the past year.Jonathan Chang, a longtime attorney for the electric-car maker who was promoted to the role in February, left the company Dec. 6, according to people familiar with the matter. He’s taken the general counsel job at SambaNova Systems, the artificial intelligence startup announced Thursday.Chang, 41, joined Tesla in 2011. He was thrust into the general counsel role in February after Washington-based trial lawyer Dane Butswinkas lasted just two months with the company. His predecessor was Todd Maron, a former divorce attorney who had been in the job since 2014.Tesla shares pared a gain of as much as 2.8% on the news, trading up 1.6% to $358.22 as of 3:30 p.m. in New York.It was an eventful 9 1/2 months for Chang and Tesla. He took over from Butswinkas a day after Chief Executive Officer Elon Musk published problematic tweets about the outlook for vehicle production this year. Within a week, the U.S. Securities and Exchange Commission asked a judge to hold the billionaire in contempt of a 2018 settlement that required him to get social media posts that could be material to investors pre-approved.Musk and the SEC settled in April. That month, Tesla started waging a legal battle against a short seller it accused of trespassing at its California assembly plant and menacing workers. And in August, Walmart Inc. sued Tesla over rooftop solar fires at more than a half-dozen of the retailer’s stores. The two companies resolved the issue out of court last month.Last week, Musk, 48, emerged victorious from a four-day trial over another series of tweets in which he attacked a British cave expert who help rescue members of a Thai soccer team from a flooded cave. An eight-member jury unanimously decided his statements fell short of defamation.Chang is leaving a company seemingly on firmer footing than it’s been when other senior managers have left the last few years. Tesla reported a surprise third-quarter profit in October and said it was ahead of schedule launching its next high-volume electric vehicle, the Model Y crossover. Its shares have surged more than 40% since then and are trading up for the year.Tesla didn’t respond to questions including who will replace Chang, who declined to comment. The company, which is notorious for churning through top executives, has promoted from within of late rather than replace senior managers with splashy outside hires.Other Tesla departures this year that the company back-filled internally include J.B. Straubel, the co-founder who ceded the role of chief technology officer in July, and Deepak Ahuja, the chief financial officer who retired in March.(Updates with SambaNova statement in second paragraph)To contact the reporter on this story: Dana Hull in San Francisco at email@example.comTo contact the editors responsible for this story: Craig Trudell at firstname.lastname@example.org, Chester Dawson, David WelchFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tesla stock, in June, fell to levels not seen since early 2016. But with rapid growth in shipments, what does an analysis of the stock's fundamental and technical strength say about buying Tesla shares?
Thyssenkrupp is hoping to win contracts for a planned factory Tesla plans to build near Berlin, a board member of the German conglomerate told a business daily. "We are in talks over carrying out certain services," Klaus Keysberg, board member in charge of steel and materials services at Thyssenkrupp, told Handelsblatt, declining to be more specific. Thyssenkrupp makes everything from elevators and submarines to car parts, steel and fertilizers plants.
Jim Cramer has seen the light. The sharp, sleek light of a Tesla Inc (NASDAQ: TSLA ). And the experience has converted the "Mad Money" host from a long-time “agnostic skeptic” to an “outright ...
Tesla General Counsel Jonathan Chang stepped down from the electric-vehicle company to take a similar position at an artificial intelligence startup, a report said. Chang was the third person to hold the top legal position at Tesla in the past year, Bloomberg reported. People familiar with the matter told Bloomberg that Chang joined SambaNova, which has offices in Palo Alto, Calif., and Austin, Texas.
Here’s the math behind that projection: Each Qualcomm (QCOM) 5G modem costs about $20, and Apple (AAPL) will start making all its iPhone 5G compatible next year. The introduction of 5G iPhones next year is widely expected, but Apple hasn’t confirmed anything yet. Instead, Apple has been talking about its newly released slate of iPhones and increased subscription offerings.
Jim Cramer and ActionAlertsPLUS.com research analyst Zev Fima are breaking down everything you need to know about the markets from the latest on the China trade negotiations to Real Money Stock of the Day Lululemon . Does the U.S. Need a China Trade Deal? As the December 15 tariff deadline gets ever-closer, Jim Cramer took his latest column on Real Money to take to ponder if the U.S. should even continue pursuing a trade deal with China.
(Bloomberg) -- Europe is poised to lead global growth in electric-car sales next year as governments across the region offer consumers ever-sweeter incentives toward the purchase of new vehicles.Momentum is building in a market that’s already the world’s second-biggest -- well behind China but significantly ahead of North America -- as the European Union on Wednesday set in motion an unprecedented plan to become net neutral on carbon emissions by mid-century. With car manufacturers already facing the stark choice of either selling emissions-free vehicles or paying stiff EU penalties on polluting models, 2020 is shaping up as do or die for the industry.“It’s better to subsidize electric cars than to pay high fines for selling combustion engines,” said NordLB analyst Frank Schwope. “We should see steady gains in the numbers next year.”In Europe, sales of pure electric and plug-in hybrid passenger cars are expected to grow 35% in the first nine months of 2020, a rate far higher than China and North America, according to BloombergNEF. Battery-only vehicles have long outpaced plug-in hybrids in the three regions.The forecast is for 32% growth in Europe this year, compared with a cooling of the market in China as the government pulls back on subsidies and in North America as Tesla Inc. sends more Model 3s abroad.The push to sell is taking on greater urgency as companies like Volkswagen AG spend record amounts to roll out new models. In Europe, electric cars still represent a relatively small proportion of the market -- although the share is approaching that of China.“Pricing and the development of charging infrastructure will be the cornerstone of EV growth,” said Fitch ratings analyst Emmanuel Bulle in an email, noting some consumers are reluctant to pay more for electric-only cars because of range anxiety.In response, European governments are also pushing for the expansion of charging networks. In the U.K. and Germany, companies like Char.gy and Ubitricity are integrating chargers into street lamp posts as a way to broaden infrastructure more quickly.Here’s a look at how key European markets are shaping up:GermanyEurope’s biggest car market will be the one to watch next year. Chancellor Angela Merkel unveiled a landmark climate package in September with subsidies aimed at boosting EV sales. The policy seems to be working, with Germany set to overtake much-smaller Norway as the regional battery-car leader.Car buyers paying less than 40,000 euros ($44,000) are eligible for state and company handouts of as much as 6,000 euros. This could cost as much as 2.6 billion euros by 2025, BloombergNEF estimates.The mechanism will likely influence the way German carmakers market their next round of battery-electric vehicles, according to Matthias Schmidt, a Berlin-based automotive analyst.“The 40,000-euro list price is going to be a very important level for BEVs in the next one to two years,” he said. VW will sell ID.3 cars for under 30,000 euros, while BMW AG’s electric mini has an entry-level price of 32,500 euros. Both will offer consumers a domestic alternative to Tesla’s Model 3.Overall, German carmakers plan to triple their electric-car offerings to 150 models by 2023 and invest 50 billion euros by 2024, according to Bernhard Mattes, head of the VDA automakers’ lobby.The government also wants 1 million charging points by 2025.FranceAt ground zero of the Paris climate accord, France is backing policies to promote electric cars and charging stations as a way to lower carbon emissions and support the domestic industry. The government has to tread carefully after cars emerged as a flash point during the massive Yellow Vest demonstrations that began against a fuel tax. Protesters said it said would hurt low-wage earners who couldn’t afford new vehicles, let alone electric ones.In the nascent market, Renault SA’s compact Zoe model has emerged as France’s best-selling fully electric vehicle so far this year with a 43% market share, ahead of the Model 3 and Nissan Motor Co.’s Leaf, according to consultancy Inovev. With 35,000 units sold in Europe in the first nine months of the year, the Zoe still lags far behind the Model 3, which registered nearly 63,000, according to BloombergNEF.The state gives as much as 6,000 euros plus a conversion bonus to buyers scrapping an old clunker for an electric car. In the greater Paris region, the local government has further sweetened the offer, with subsidies reaching as much as 14,500 euros when central and regional government contributions are combined and the buyer has a low income.United KingdomThe region’s second-biggest car market is battered by Brexit uncertainty, so growth in electric vehicle sales has given some relief to the broader slump. Sales of all-electric cars more than doubled through November to 32,911 units, according to the Society of Motor Manufacturers and Traders. Yet they captured just 1.5% of the overall market.The U.K. offers grants and rebates on pure electric vehicles of as much as 3,500 pounds after phasing out subsidies for hybrids last year. To be eligible, cars should be capable of traveling 70 miles without any emissions.The SMMT auto industry lobby is also seeking government help for battery manufacturing investments, as well as incentives and infrastructure spending to help prop up demand.NetherlandsThe small European country is punching well above its weight on electric car sales. The government now plans to give tax advantages for at least the next five years as a way to reach a long-term goal to have only clean cars in the country by 2050.For now, the Dutch system is a hotchpotch of incentives that includes exemptions on a road tax, and a much lower sales-tax rate applied to the first 50,000 euros of the price tag of an electric car.Local governments have also put in place their own measures. In Amsterdam, electric car or delivery van buyers could get as much as 5,000 euros toward their purchase while investment in battery-powered buses or trucks could net as much as 40,000 euros per vehicle.NordicsWhile Norway is set to lose its crown to Germany this year as Europe’s largest market for battery-electric cars, countries in the region have blazed a trail as early adopters because they were among the first to offer purchase incentives.Norwegian government sweeteners include exemption from duties such as import taxes, value-added tax and the annual road tax, while local authorities have also offered free parking, toll exemptions and allowed electric cars to use collective transport lanes.In Sweden, electric car buyers get a bonus of as much as 60,000 kronor ($6,300) at purchase. The two countries’ different approaches on incentives have had unintended consequences, with some Swedes cashing in on the bonus and then exporting their electric car to Norway, where usage is more generously subsidized.In Denmark, the Social Democrat government decided to cancel planned tax increases on electric cars and has increased tax deductions for driving an electric car to work.ItalyItaly lags far behind the other big European markets, with less than 8,000 battery-electric vehicles sold in the first nine months of the year, according to the European Automobile Manufacturers Association.“The government hasn’t so far provided a competitive system of public incentives for electric cars compared with other European countries,” said Stefano Aversa, chairman for EMEA of consultancy Alix Partners.A minimum of about 30,000 euros on the price of an electric car compares with best-selling compacts priced at between 10,000 euros and 15,000 euros in Italy, he said.Although the government in March unveiled incentives that work out to as much as 6,000 euro per vehicle, they are languishing because they’re not enough to bridge the price and cultural gap, according to Roberto Vavassori, head of the European parts supplier association Clepa.Sales could pick up next year when Fiat Chrysler Automobiles NV launches the first fully-electric version of its Fiat 500 city car and hybrid plug-in versions of the Jeep Renegade and Compass.\--With assistance from Ania Nussbaum, Ellen Proper, Niclas Rolander, Daniele Lepido, Siddharth Philip and Morten Buttler.To contact the reporters on this story: Tara Patel in Paris at email@example.com;Oliver Sachgau in Munich at firstname.lastname@example.orgTo contact the editor responsible for this story: Anthony Palazzo at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
While attending the Charles Schwab IMPACT Conference, ETFdb Co-CEO Tom Lydon spoke with ARK Investments CMO Sebastian Benkert about its ETF strategies.
(AMZN) CEO Jeff Bezos’s privately held space company, Blue Origin, just completed another successful launch. The trip brings the rocket company closer to its goal of carrying tourists into space—a journey that would be fun, but expensive. “This mission was another step toward verifying New Shepard for human spaceflight as we continue to mature the safety and reliability of the vehicle,” reads the company’s Wednesday news release.
Tesla stock is up sharply since hitting a low point in June, as the electric automaker turned in a profitable third quarter and continues to expand production. It's The IBD Stock Of The Day.
TD Ameritrade Holding Corp. (NASDAQ: AMTD) clients were net buyers of Walt Disney Co (NYSE: DIS) during November following Disney’s release of its highly anticipated streaming service Disney+. This is according to the TD Ameritrade IMX, a monthly measure of buying and selling activity among the firm’s clients. Shares of Disney hit an all-time high on Nov. 26 after it was reported that the streaming platform was averaging 1 million new subscribers per day.
Privately held supercar company McLaren wants to build electric vehicles in the near future. When they do, McLaren’s offerings will directly compete with the high-end Tesla Roadster due out in 2020 or 2021.
If you want to make money in the stock market, you should avoid the battleground stocks, Jim Cramer told his Mad Money viewers Wednesday. Tesla and Netflix have been two long-running battlegrounds between the bulls and the bears, Cramer said, and he's recently changed his opinion on both of them. There are three things that define a battleground stock.
Sometimes though, like in this market, where the animal spirits - bullish animal spirits - can bowl you over, sometimes you have to take a stand, and that's exactly what I've been doing with Tesla and what I've gone back and forth on with Netflix , the two biggest hornets' nests of our generation. You can't put a price to earnings ratio on cool, on but you might buy cool and therefore want to buy the stock. For example: if you like it you might want to buy the stock but be careful of the balance sheet.
“No other” electric car comes close to matching what the Tesla Inc. Model 3 offers for under $40,000, Edmunds.com says. Other top vehicles named by Edmunds on Wednesday included the Honda Accord as the best sedan and the Fiat Chrysler Ram as best pickup truck.