(Mon) Tesla rockets past $1,000 milestone
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Shares of Tesla revved past $1,000 a share for the first time on Wednesday. The result of that stock price catapult: Tesla is now the world's second most valuable car company. The stock surge came after CEO Elon Musk told staff in a memo seen by Reuters that it was time to ramp up production of the not-ready-for-sale Tesla Semi commercial truck. Even though the memo was light on details and did not specify a time frame for the pick-up in manufacturing, investors were reassured by a tweet from Elon Musk. When asked on Twitter if the report of the leaked Semi truck production email was accurate, Musk replied: Yes. Musk first revealed plans for the Semi truck in 2017 and said it would go into production in 2019 but later moved that schedule to 2021. That's not the only reason for a run-up in the stock. Anticipation is running high that Musk will soon unveil battery technology that could deliver longer life, lower costs and better range for future Tesla vehicles. Traditional automakers like General Motors, Ford and Mercedes-Benz owner Daimler have tried to mimic Tesla¡¯s success by pouring billions into electric car models, but none so far have been able to dim the cult status that surrounds the Tesla brand. And so investors have rewarded Tesla with a hefty premium. Tesla has a market cap that is more than double General Motors and Ford combined, even though it sells far fewer total cars per year.
(Tue) Google Maps to help social distancing on public transit
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As big cities around the United States, like New York, reopen, more people are heading back to work - and getting back on public transport. But who wants to step on a packed train in a time of social distancing? To that end, Google on Monday introduced new features in Google Maps that will allow users to check crowd sizes at train stations before heading out. An update to Google Maps will also allow transit riders to check if buses are running on full or limited schedules. The transit alerts will be rolled out in the U.S., United Kingdom, Argentina, France, India and several other countries, according to a company blog post. And the new features won't be limited to public transport. Google Maps will also provide details on highway bottle necks and travel restrictions due to health checks at national border crossings between the U.S., Canada and Mexico.
(Wed) LVMH backs down on renegotiating Tiffany deal
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Tiffany is known for not holding sales, and it now appears it won't have to knock down its own price tag, either. LVMH had been deliberating whether to renegotiate its $16.2 billion purchase of the iconic jewelry chain. Sources told Reuters Friday that the French luxury goods giant has decided not to do so after considering the legal hurdles involved. Relieved investors drove Tiffany shares roughly 8% higher in Friday morning trading to over $123 a share. That's a lot lower than the cash price LVMH had agreed to pay: $135. LVMH CEO Bernard Arnault had been talking to advisers to identify ways to pressure the American retailer to lower its price. He considered whether he could argue that Tiffany had breached its obligations under the merger deal. LVMH had agreed to buy Tiffany in November, but several months later, the luxury retailer's business got hammered as people stayed home and stopped traveling. It's unclear whether LVMH will revisit the issue before the deal closes, especially if Tiffany¡¯s financial condition were to deteriorate. Investors will soon find out how Tiffany fared. It was supposed to release earnings Friday, but it has pushed back its earnings report to Tuesday.
(Thu) Facebook's Zuckerberg to review content policies after backlash
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Facebook CEO Mark Zuckerberg appears to be softening his stance when it comes to changing the social media giant's policies that allowed controversial posts to remain on the platform made by President Trump, which some critics said fueled the fans of racial tensions during a time of great civil unrest. Without offering any specifics, Zuckerberg in a Facebook post on Friday, made a partial concession , writing: "We're going to review our policies allowing discussion and threats of state use of force to see if there are any amendments we should adopt," adding, "We're going to review potential options for handling violating or partially-violating content aside from the binary leave-it-up or take-it-down decisions." Zuckerberg has been feeling the heat from critics and backlash from employees after he defended a decision to leave up a Facebook post from Trump containing the message "when the looting starts, the shooting starts." Many saw the post as a threat and a throwback to state-sanctioned violence against protesters during the civil rights era. The pressure only intensified as other social media companies like Twitter and Snapchat took steps this week to rein in Trump posts that were false, misleading or appeared to incite violence against protestors. Demonstrators have been flooding the streets for two weeks, often breaking city and state curfews to protest violent policing after video footage captured a black man, George Floyd, dying after a now former police officer held his knee against Floyd's neck for nearly 9 minutes.
(Fri) Could this throat-swabbing robot speed up testing?
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Danish researchers say they've built a robot that can keep healthcare workers safe from infection whilst taking swabs. The so-called "swab robot" is a prototype built by a team at the University of Southern Denmark and Lifeline Robotics. They hope it can be released soon. Professor Savarimuthu works with the team. "The patient identifies themselves with an ID-card. By doing that they actually start the system, the system prepares a new sampling kit, it takes the swab and identifies the swabbing area in the throat of the patient, makes the swab and conceals the sample in the container. This is to help the health care system in collecting the samples. Second of all, we can guarantee the quality of the samples. You get exactly the same procedure repeated again and again which will give better quality of the samples." The research team said the robot is powered by artificial intelligence. It uses cameras to find the right part of the throat and is programmed to swab it gently. Lifeline Robotics believe there will be global demand for the device.