May had failed to win a parliamentary majority on Britain's withdrawal from the European Union.Europe Politicsread more
Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
China denounced U.S. Secretary of State Mike Pompeo for fabricating rumors after he said the chief executive of China's Huawei was lying about his company's ties to the...World Politicsread more
U.S. President Donald Trump on Thursday predicted a swift end to the ongoing trade war with China, although no high-level talks have been scheduled between the two countries.World Economyread more
President Donald Trump has threatened tariffs on another $300 billion worth of Chinese goods — but Chinese PC-maker Lenovo is prepared to shift its production if that happens,...Technologyread more
Indian Prime Minister Narendra Modi won a landslide re-election victory. That could see India taking a more assertive security stance.Asia Politicsread more
The Wall Street Journal and The New York Times, citing people familiar with the deal, reported that $30 million would go to plaintiffs and $14 million would be used to pay...Entertainmentread more
Danish shipping group A.P. Moller-Maersk on Friday posted first-quarter profit close to expectations and warned that trade tensions and slowing economic growth constitute...Earningsread more
Chinese technology giant Huawei has enough inventory to sustain its smartphone and 5G networking equipment business for most of the rest of the year, according to brokerage...Technologyread more
President Donald Trump on Thursday directed the U.S. intelligence community to "quickly and fully cooperate" with Attorney General William Barr's investigation into the...Politicsread more
Despite a decline in global commercial real estate markets, Asia-Pacific continues to enjoy a record-breaking growth — thanks to China, according to the Global Capital Flows...Real Estateread more
The high speed tunnel Elon Musk's Boring Company has planned for LA's Dodger Stadium should be ready by 2020, team CFO Tucker Kain told CNBC on Friday.
"The expectation right now is that we'll have approvals early next year and get started building the tunnel, and hopefully have it opened by the end of 2019, in time for 2020 season, which is when the Dodgers are hosting the MLB All-Star Game," Kain said on CNBC's "Squawk Alley."
Earlier in August, the company announced a proposal to build a zero emissions, high-speed, underground public transportation tunnel from Los Feliz, East Hollywood or Rampart Village neighborhoods in Los Angeles to Dodger Stadium. The electric vehicles, designed to carry eight to 16 passengers, are expected to reach speeds from 125 to 150 miles per hour, the company said. The so called Dugout Loop is expected to transport about 1,400 fans per game and cost about $1 for a four minute ride.
"The tunnel at the moment is going to be fully financed by the Boring Company — something we are really excited about and appreciative of the work and innovation being done by the Boring Company on projects like this to really help LA, help traffic, help Dodger fans in particular," Kain said.
With a capacity of 56,000, Dodger Stadium is baseball's biggest venue in the country. So far this year, it has had the highest attendance of any Major League Baseball team, according to ESPN. In a city already known for its traffic problems, it can be a real feat for fans to get to the stadium. The Boring Company's hyperloop tunnel aims to reduce congestion as well as boost attendance.
"We are already the highest-attended sports venue in the world at the moment, so we are really trying to capitalize on that, give people more options ... to really come and experience Dodger baseball, which they may be less prone to do to the extent traffic is a major issue as they try to get to the stadium on a nightly basis," Kain said.
Kain said he expects the project gain approval early in 2019 and be completed by the end of that year, just in time for the Dodgers to host their fourth All-Star Game, which marks the halfway point in the MLB season.
"This is a key part of what it's going to take for the Dodgers to continue delivering the fan experience we're hoping to for our fans," Kain said. "It is really important for us to make sure we alleviate some of the friction in the fan experience — traffic in LA being one of those — and really giving people alternative options and doing this all in a clean way."
The Boring Company, an infrastructure and tunnel construction company that also sells flamethrowers, did not respond to CNBC's request for comment.