Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
PatientsLikeMe was bought by UnitedHealth following a review by Trump's Treasury Department, which scrutinized the start-up because it's backed by Chinese cash.Technologyread more
Some traders think the energy rally is about to wane, despite the sector being one of June's big winners.ETF Edgeread more
Stocks with this one feature are poised to crush the market after a rate cut, according to Goldman Sachs.Marketsread more
An Air Canada passenger traveling to Toronto from a weekend in Quebec City found herself stranded alone on the tarmac and in the dark, in what she described as a "nightmare."Airlinesread more
When Victoria's Secret exited the swimsuit business in 2016, it opened the floodgates for start-ups to conquer that market.Retailread more
U.K. online bank Monzo raised $144 million in a fresh round of funding led by the U.S. start-up accelerator Y Combinator.Technologyread more
The initiative lets drivers give their friends a referral code to get six months of free charging via Tesla's Supercharger network.
Musk said the move was aimed at reducing costs incurred by the scheme. "It's adding too much cost to the cars, especially Model 3," he said.
The premium electric auto manufacturer has made a number of cost-cutting moves of late, as it looks to boost margins and expand profitability. Late last month, the firm cut prices on its Model 3 car in China, while this week it discontinued the lowest-priced versions of the Model S sedan and Model X SUV.
In its last quarterly report, the company scored its first profit in two years, posting net profit of $311.5 million and $881 million in free cash flow.
The firm managed to pump out 86,500 vehicles in the fourth quarter, up from 80,142 in the previous quarter, but disappointed investor expectations when it came to deliveries.
The company is also trying to up its presence in China, and Musk recently broke ground on a new Gigafactory — the name given to the facilities where lithium-ion batteries and Tesla vehicles are produced — which is being opened in Shanghai. The factory, dubbed the Gigafactory 3, is slated to begin partial production in the second half of this year.
That move comes not only as a spate of domestic rivals — including Nio and Xpeng — look to challenge Tesla's dominance in the electric vehicle space, but also as the U.S. and China try to resolve their differences over trade.
A trade battle between the two superpowers has seen billions of dollars' worth of each other's imported goods targeted with new tariffs, and both nations are trying to reach a trade agreement during a 90-day truce.