The Dow Jones Industrial Average fell on Tuesday as the Federal Reserve kicked off a two-day monetary policy meeting.US Marketsread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
Facebook has partnered with Ray-Ban maker Luxottica to develop augmented-reality glasses, people familiar with the matter told CNBC. The glasses, code-named 'Orion,' are being...Technologyread more
As Netflix's rivals prep for their own streaming service launches, and snatch up content belonging to their own networks, Netflix could soon face a dry well when it comes to...Entertainmentread more
"There's a huge reorganization going on in China regarding fentanyl to try to shut it down," Blackstone co-founder Stephen Schwarzman says.Health and Scienceread more
The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
Pelosi also said it's "irrelevant" whether approving the USMCA trade deal would give President Donald Trump a victory ahead of the 2020 election.Politicsread more
The fine against Carmene "Zsa Zsa" DePaolo was the maximum possible civil penalty that she faced under the Hatch Act for her comments about Hillary Clinton's immigration plan...Politicsread more
Sen. Elizabeth Warren has called on lobbyists to be banned from donating and fundraising for their preferred campaigns. Her new plan represents the latest shift for Warren who...2020 Electionsread more
Half of Saudi Arabia's crude production cut during Saturday's attack has been restored in the past two days, the kingdom's energy minister said Tuesday.Oilread more
General Motors stands to lose hundreds of millions of dollars in lost production as a United Auto Workers union strike against the automaker enters its second day, but Wall...Autosread more
Amazon's goal of carbon neutrality will help take electric vehicles "to the next level" because the e-commerce giant has a huge fleet of vehicles, Morgan Stanley says.
"Amazon's plans to have 50% of its trips carbon neutral by 2030 implies a major push in electric vans/delivery vehicles," Morgan Stanley analyst Adam Jonas said in a note Wednesday. "We think investors should prepare for more moves by megafleets to solve for sustainability."
Jonas is widely recognized on Wall Street as one of the first to note the significance of Tesla and electric vehicles to the auto industry. He pointed out that Amazon's carbon neutrality target follows its lead in a $700 million round of capital investment for electric pickup truck and SUV maker Rivian. Jonas featured Rivian in multiple notes last week, calling the start-up "a serious problem for Detroit" and "the next serious competition for Tesla"
Amazon's plan requires "an aggressive adoption" of electric vehicles, Jonas said, "which may penetrate megafleet managers and logistics markets faster than the penetration of private/single-vehicle ownership models."
"In our view, the 'front line' of sustainable propulsion systems will be fought in dense urban and suburban transport networks where large, well-resourced, and technologically savvy companies managing fleets of potentially many millions of vehicles may be held to strict standards of tailpipe emissions by local/metropolitan governments," Jonas added.