The company blamed its Q2 content slate and price increases for the subscriber miss.Technologyread more
Corporate earnings forecasts for the second quarter were lowered so much that companies are easily beating them.Market Insiderread more
The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a...The Fedread more
IBM's year-over-year revenue has now declined for four quarters in a row. Impact from Red Hat is not yet factored into the company's guidance.Technologyread more
Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt. And growth is entirely dependent on Netflix's...Technologyread more
Prosecutors in Masschusetts have dropped a criminal case against actor Kevin Spacey, who had been accused of groping an 18-year-old man.Entertainmentread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
Trade negotiations between the world's two largest economies are stuck at a standstill, the Wall Street Journal reported Wednesday.Marketsread more
House Speaker Nancy Pelosi says she wants her chamber to vote on a debt ceiling and budget deal by July 26.Politicsread more
Philips has acquired a start-up that texts you about your poop. That's Medumo, a Boston-based company, which works with hospitals to guide their patients through common...Technologyread more
The "'Cadillac tax," set to go into effect in 2022, is unpopular with both Republicans and Democrats, who say it punishes the middle class.Health and Scienceread more
Tesla is temporarily shutting down production for the Model 3 at its factory in Fremont, California.
Buzzfeed reports that the pause will last four to five days, according to Tesla employees.
This shutdown follows a prior one in late February, and a company spokesperson referred CNBC to the same statement it offered then.
"Our Model 3 production plan includes periods of planned downtime in both Fremont and Gigafactory 1," they wrote. "These periods are used to improve automation and systematically address bottlenecks in order to increase production rates. This is not unusual and is in fact common in production ramps like this."
The Model 3 is critical to Tesla's future as a mass-market auto maker. More than 400,000 people have pre-ordered one, paying $1,000 refundable fees to do so.
The news comes several days after CEO Elon Musk tweeted that "excessive automation at Tesla was a mistake. "
Tesla missed its target for Model 3 production last quarter amid reports of production struggles that Musk called "production hell. " In the last six months, the company has struggled getting its battery production up to speed, and with a relatively high proportion of parts that needed fixes, as it has worked to speed production of the vehicle that's critical to its figure as a mass-market auto maker.