4.48k followers • 5 symbols Watchlist by Yahoo Finance
This basket consists of stocks expected to benefit from self-driving cars.
Walmart is suing Tesla for its solar panels after 7 Walmart stores allegedly caught fire, according to a court filing. Yahoo Finance's Alexis Keenan joins Akiko Fujita with the latest.
Huawei’s Chairmen and Founder Ren Zhengfei said that the company is facing a “life or death crisis” as pressure from U.S. tariffs continues. Huawei expects no relief from the U.S. suctions but is confident the company will not be crushed. Yahoo Finance’s Dan Roberts, Kristin Myers and Heidi Chung discuss.
Walmart hired SolarCity to install solar panel systems on at least 244 of its stores. Tesla bought SolarCity in 2016, and Walmart alleges that Tesla did not fix the problems it inherited and was negligent itself. Tesla has not responded to requests for comment or filed a response to the lawsuit.
Volkswagen CEO Herbert Diess is interested in acquiring a stake in Tesla , German business publication Manager Magazin reported on Thursday, citing company sources. "Diess would go in right away if he could," the magazine quoted one of Diess' top managers as saying. Diess believes Volkswagen could profit from Tesla's competence in the fields of batteries and software, Manager Magazin said, adding the German company had enough money.
Walmart Inc.’s lawsuit against Tesla Inc. over several roof fires that the retailer blames on solar panels is “yet another blow to the already tarnished” solar business at Tesla, analysts at ISI Evercore said in a note Wednesday.
British tech firms brought in a record amount of funding in the first seven months of 2019, and over half was from the U.S. and Asia.
(Bloomberg) -- Tokyo is about to get another mound of capitalism.Mori Building Co. is spending 580 billion yen ($5.4 billion) on a new, 20-acre hub of commerce in the city’s core. Similar in size to New York’s Rockefeller Center, the complex will have shops, restaurants, 213,900 square meters of office space, 1,400 residences, a world-class hotel, an international school and the city’s biggest food court.If this capital of 14 million has a king of the hills, it’s the Mori real-estate empire. The new project will eclipse the builder’s signature development, Roppongi Hills — home to Google and Goldman Sachs Group Inc. offices, and a magnet for shoppers and international visitors. The closely held company, whose late founder was once the country’s richest man, is betting that more people — especially foreigners — will flock to live and work in Tokyo over the coming years.“Japan’s office market is behind in relative size and depth,” Mari Kumagai, head of research at Colliers International Group Inc. “If you’re serious about making money from buildings, you have to do this.”Set to open in 2023, the new endeavor doesn’t yet have a name. For now, it’s called the Toranomon-Azabudai project, from the neighborhoods Mori will gobble up in Minato-ku, one of Tokyo’s toniest enclaves. Starting with the 1986 debut of nearby Ark Hills, the real-estate developer has been relentless in its push to transform Tokyo’s skyline with hefty buildings clad in steel and glass.Mori’s properties often cater to foreign businesses and visitors, offering sanctuaries for them to stay, work and shop in a megalopolis that can be difficult to navigate. Signage and restaurant menus in the city still often lack English or other languages. Green spaces are still few and far between, and the view from the 52nd floor of Roppongi Hills betrays a sea of drab, gray low-rise homes and buildings that stretch to the horizon.“This is going to become Tokyo’s newest landmark,” said Shingo Tsuji, Mori’s chief executive officer. “We’ve spent 30 years thinking about this project, and how cities should be created.”Mori’s goal is to create a city within a city that people can “escape to, rather than flee from.” Ground broke this month on the big new project, which will connect two subway stations and create a new arterial road to relieve the development’s impact on vehicle traffic. Although the total footprint will be smaller than its predecessor, the new complex will have more floor space, with a 64-story main tower and two residential towers.When Mori embarked on its Roppongi project almost two decades ago, developers were jumping over each other to put up new buildings in Tokyo. Land prices were down 75% after Japan’s economic bubble burst in the early 1990s, interest rates were on their way to zero and new zoning laws made it easier to combine lots for big projects.That bet may have paid off. Mori’s new project is being built under a different scenario, coming after a long run-up in office space demand. Tokyo’s real-estate market is thriving, with vacancy rates near record lows below 3%, according to Colliers, the real-estate investment and services firm.The big question is whether that trend will continue, as well as Mori’s ability to keep riding the wave of mega projects. Although rental growth has been robust, Colliers predicts it will peak at around the current 5% before easing to an average of 0.8% over the next few years. All told, central Tokyo will have 70 major real-estate projects breaking ground from 2018 through 2023, according to the firm.“The office market is doing really well, vacancies are coming down,” said Patrick Wong, a Bloomberg Intelligence analyst. “The issue is whether rents can keep going up further.”Tokyo isn’t the only frothy real-estate market in the region. Singapore and Sydney are also seeing low office-leasing vacancies as companies hire more people. Last month, the government of Singapore clamped down on speculative buying and selling, with the central bank citing “euphoria” in the property market.At the same time, protests in Hong Kong have put the brakes on demand for central office space in China’s special administrative region. Spooked investors are turning elsewhere to places such as Singapore, which saw private home sales surge a sequential 43.5% in July. Although no multinational corporations have said they’re leaving Hong Kong, it’s probably on their mind, according to Wong. “This could be an opportunity for Tokyo,” he said.That’s music to the ears of Japanese Prime Minister Shinzo Abe, who in 2014 pushed to establish new strategic special zones in Tokyo and other cities as part of his Abenomics revitalization plan. The areas of Tokyo that fall under those zones, which offer deregulation and other incentives, are right where Mori has been developing properties for decades.No surprise, then, that the Toranomon-Azabudai mega project has been 30 years in the making. Work on it started even before Roppongi Hills. For its major projects, Mori’s employees spend years going door to door, persuading local residents and property owners to hand over their land in exchange for prime residential space in the new buildings.It’s hardly a coincidence that Mori’s suffix for its biggest developments — there’s also Toranomon Hills and Atago Green Hills — harks back to that other chichi neighborhood, Beverly Hills. It’s also a nod to the Japanese word, Yamanote. Transliterated as “the hill’s hand,” the term refers to the more desirable, hilly neighborhoods west of the Imperial Palace in feudal Tokyo that now include Mori’s properties.“We’ve poured everything we’ve learned from our Hills projects into this new development,” Tsuji said.Mori’s ultimate vision is to link up all of its properties into an uber-complex of offices, homes and retail space. Although the developer is going to unveil the project’s name just before it opens for business, odds favor it will end with “Hills.”(Updates with analyst’s comment in fourth paragraph. A previous version of this story corrected the timeframe of projects.)\--With assistance from Hiromi Horie.To contact the reporter on this story: Reed Stevenson in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Emma O'Brien at email@example.com, Reed Stevenson, Jeff SutherlandFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
U.S. stock futures turn slightly higher Thursday; Dick's Sporting Goods and Salesforce.com report earnings; Donald Trump slams Ford for backing an agreement with California to lower emission standards.
(Bloomberg) -- Twitter Inc. removed hundreds of accounts linked to the Chinese government this week meant to undermine the legitimacy of Hong Kong protests. It also said it would no longer allow state media to purchase ads on its platform.What Twitter didn’t mention in its series of blog posts this week was the increasing number of Chinese officials, diplomats, media, and government agencies using the social media service to push Beijing’s political agenda abroad. Twitter employees actually help some of these people get their messages across, a practice that hasn’t been previously reported. The company provides certain officials with support, like verifying their accounts and training them on how to amplify messages, including with the use of hashtags.This is despite a ban on Twitter in China, which means most people on the mainland can’t use the service or see opposing views from abroad. Still, in the last few days, an account belonging to the Chinese ambassador to Panama took to Twitter to share videos painting Hong Kong protesters as vigilantes. He also responded to Panamanian users’ tweets about the demonstrations, which began in opposition to a bill allowing extraditions to China.China’s ambassador to the U.S. tweeted that “radical protesters” were eroding the rule of law embraced by the silentmajority of Hong Kongers. The Chinese Mission to the United Nations’ Twitter account asked protesters to “stop the violence, for a better Hong Kong,” while social media accounts of Chinese embassies in Manila, India and the Maldives shared articles from China’s state media blaming Westerners for disrupting the city. “Separatists in Hong Kong kept in close contact with foreign elements,” one story says above a photo of U.S. Vice President Mike Pence.“We know China is adept at controlling domestic information, but now they are trying to use Western platforms like Twitter to control the narrative on the international stage,” said Jacob Wallis, a senior analyst at the Australian Strategic Policy Institute’s International Cyber Policy Centre.It’s unclear if any of these diplomats were set up on the service by Twitter, but the state-backed attempt to discredit Hong Kong protesters continues to reach millions of global Twitter users. In many cases, the Chinese officials are promoting views similar to those in 936 accounts Twitter banned on Monday.The practice of supporting Chinese officials who use Twitter to spread the Communist Party agenda highlights how difficult it is for the social media company to balance its commitment to root out disinformation and allow the expression of varying opinions. It also raises concerns around why Twitter is helping Beijing make its case to a global audience when the service is banned in China, where dissenting voices are prohibited and officials sometimes detain users accessing the platform through virtual private networks.Twitter’s recent effort to curtail China’s government-directed misinformation campaigns, which provoked outrage from state media, seems at odds with continuing to welcome pro-Beijing accounts that attack Hong Kong protesters, said Wallis.“There’s a clear tension for Twitter here having seen that Beijing is willing to use the platform in deceptive and manipulative ways, whilst desiring to use the platform for state diplomacy,” Wallis said.The tweets are part of a broader campaign by China to reshape the narrative over Hong Kong, particularly in Western nations more sympathetic to the democratic aspirations of protesters. China this week also sent a 43-page letter to senior editors at foreign news outlets, including the Wall Street Journal, Reuters and Bloomberg.Twitter says it works with public officials and politicians around the world, not just in China, and that everyone deserves a voice in the public discourse, as long as they follow its rules and policies. The company has used the same argument to defend hosting tweets by U.S. President Donald Trump, which some users have questioned. Twitter has said it aims to “advance global, public conversation” and that public figures “play a critical role in that conversation because of their out-sized impact on our society,“ in a blog post last year.On Monday, Twitter said in a blog post that it would block more than 900 accounts because they appeared to be part of a “coordinated state-backed operation” to “sow political discord in Hong Kong.” Some of the accounts accessed Twitter from unblocked IP addresses within mainland China, it said, suggesting the state condoned their activities. Twitter also said it would stop accepting advertising from state-controlled media: “Any affected accounts will be free to continue to use Twitter to engage in public conversation, just not our advertising products.”Twitter’s embrace of Chinese officials on the platform also highlights how some American tech companies try to make inroads in the enormous market, despite government restrictions on their services. Facebook Inc. founder Mark Zuckerberg, for example, has repeatedly expressed a desire to enter China. Twitter oversees the China business from offices in Hong Kong and Singapore.Like Google, Facebook and other sites blocked in China, Twitter sells advertising to Chinese companies like Huawei Technologies Co. and Xiaomi Corp. that are trying to reach overseas users. Before Twitter’s policy change this week, it had also sold ad space to Chinese state media companies that used them to push the narrative that Hong Kong protests were orchestrated by foreign forces and angry mobs unrepresentative of the city’s majority.Facebook said it has trained Chinese state media entities to use its services, but declined to comment on whether it also works with government officials. “We provide a standard set of guidance and best practice training to groups around the world including governments, political parties, media outlets, and non-profits so they can manage their Facebook Pages,” the company said in a statement, noting that their guidance is publicly available online.YouTube, part of Alphabet Inc., doesn’t have a specific policy that bars state-funded media, but the company’s ad policies require government-funded channels to be labeled as such. This week, state media including the Global Times published videos about the Hong Kong demonstrations, including an interview with a police officer who said he was “critically injured by violent protesters.” The company didn’t immediately respond to requests for comment on the matter.Both Twitter and Facebook have established programs to make sure public figures around the world sign up for their sites and understand how to use them effectively. The idea is that people who have a following — athletes, actors or singers — will create interest for their other users in the website. For years, the work has extended to politics, with the social networks signing up and training political figures. For example, Facebook has embedded staff with or trained Trump; Philippines President Rodrigo Duterte, known for encouraging extrajudicial killings; and Germany’s anti-immigrant Alternative for Germany party (AfD) in how to most effectively use the platform, Bloomberg News has reported.Twitter and Facebook have implemented terms of service that ban certain practices, including bot accounts that appear to be real people and promote misinformation. But government officials and state media still have wide latitude to say what they want.“If Trump is going to use Twitter to deliver his message to the Chinese government, then it makes perfect sense China should be using this medium to send signals back,” said Samm Sacks, cybersecurity policy and China digital economy fellow at think tank New America. “But then we get into this coordinated state misinformation domain and it raises problematic questions around what is propaganda and what is misinformation.”(Updates with Facebook’s comment five paragraphs from the bottom.)\--With assistance from Mark Bergen, Kurt Wagner and Daniel Ten Kate.To contact the reporters on this story: Shelly Banjo in Hong Kong at firstname.lastname@example.org;Sarah Frier in San Francisco at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- President Donald Trump lashed out at automobile manufacturers who’ve pushed back on his administration’s plan to weaken fuel-efficiency requirements, dismissing them as “politically correct.”“My proposal to the politically correct Automobile Companies would lower the average price of a car to consumers by more than $3000, while at the same time making the cars substantially safer,” Trump said in a tweet on Wednesday. “Engines would run smoother. Very little impact on the environment! Foolish executives!”The tweet was apparently prompted by a compromise that Ford Motor Co., Honda Motor Co., BMW AG and Volkswagen AG have reached with California’s clean-air regulator to bolster the fuel efficiency of autos sold in the U.S. through 2026, defying the Trump administration’s plan. Gavin Newsom, California’s Democratic governor, has called on other automakers to join the pact though none have thus far.August 21, 2019 That deal represents the most clear-cut example of auto industry unease with the Trump administration’s August 2018 proposal to dramatically ease fuel economy and vehicle greenhouse gas emissions standards drafted by the Obama administration, which sought to boost average fuel efficiency to roughly 50 miles per gallon by 2025.The Trump administration instead recommended capping mileage requirements at a 37-mile-per-gallon fleet average after 2020, and revoking California’s authority to regulate tailpipe greenhouse gas emissions, which it’s done in coordination with Washington for several years.Trump regulators have argued that capping fuel economy standards at 2020 levels would lead to less-expensive new cars than under the current rules, allowing consumers to replace their older vehicles with newer, safer ones more rapidly and avoid thousands of traffic fatalities.Experts and EPA career staff have disputed those assertions.Automakers for months have urged the Trump administration to moderate that plan, fearing a lengthy legal battle over California’s regulatory powers would throw the critical standards into uncertainty for years. Those efforts have had little sway so far on the White House, which rejected a plea by 17 carmakers last month to work out a compromise with California.The companies also want to avoid a split market -- with federal mileage requirements in most states and more stringent rules in more than a dozen states that adhere to California’s standards. The states that follow California standards account for more than a third of all U.S. auto sales.“The Legendary Henry Ford and Alfred P. Sloan, the Founders of Ford Motor Company and General Motors, are “rolling over” at the weakness of current car company executives willing to spend more money on a car that is not as safe or good, and cost $3,000 more to consumers,” Trump said later Wednesday in another tweet. “Crazy!”Ford, in a statement Wednesday evening, said the company was “proud to lead the way in taking the right actions for the environment while at the same time protecting consumer affordability and the short- and long-term health of the industry.”(Updates with Ford statement in final paragraph.)\--With assistance from Keith Naughton.To contact the reporter on this story: Ryan Beene in Washington at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org, Joshua Gallu, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
U.S. President Donald Trump stepped up a series of attacks on automakers on Wednesday for not backing his administration's plan to roll back Obama-era fuel efficiency rules, singling out Ford Motor Co in particular for backing a deal with California for stricter fuel economy standards. Ford is one of four automakers, along with Honda Motor Co , BMW AG and Volkswagen AG, that reached a voluntary agreement with California on fuel efficiency rules, defying Trump and his administration's effort to strip the state of the right to fight climate change by setting its own standards.
Advances in technology can allow you to order food by voice or unlock your phone with your face, but those new capabilities could take a toll on the environment.
The retailer claims fires broke out on seven store rooftops across the U.S. between 2012 and 2018, causing millions of dollars in damage.