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Monthly Archives: April 2018

Tesla pauses Model 3 production

FilmMagic | HBO | Getty Images Elon Musk speaks on stage during the Westworld Featured Session during SXSW at Austin Convention Center on March 10, 2018 in Austin, Texas. Tesla is temporarily shutting down production for the Model 3 at its factory in Fremont, California. Buzzfeed reports that the pause …

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Nike’s head of diversity leaves amid workplace culture reform efforts

Dhiraj Singh | Bloomberg | Getty Images A pedestrian walks past an advertisement for Nike in Mumbai, India. Nike’s head of diversity and inclusion has left the company, the sportswear retailer told CNBC on Monday, marking the latest executive departure at the company. Antoine Andrews joined Nike in 2015, according …

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Russian stocks, ruble jump after report Trump halted further sanctions

Getty Images President Donald Trump speaks to the press with Vice President Mike Pence (L), in the Diplomatic Room of the White House on March 23, 2018 in Washington, DC. Russian stocks trading in the U.S. and the ruble jumped after a report that President Donald Trump would not extend …

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Amazon shelves plan to sell to hospitals, drug distributors rally

Jay Laprete | Bloomberg | Getty Images The headquarters of Cardinal Health in Dublin, Ohio. Drug distributor and drugstore stocks rose after CNBC reported Amazon Business has shelved a plan to sell drugs to hospitals. Amazon Business, which sells bulk items to business customers, scrapped the plan after considering it …

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Aluminum prices surge to highest level since 2011 as US sanctions on Russia take out big producer

Andrey Rudakov | Bloomberg | Getty Images  A worker loads a liquid electrolyte into the electrolysis bath at the Krasnoyarsk aluminum smelter, operated by United Co. Rusal, in Krasnoyarsk, Russia. Aluminum prices surged to their highest level in six years on Monday, extending a recent rally that follows the U.S. …

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Kineta inks $360 million deal with Genentech for chronic pain drug

George Frey | Reuters Bottles of prescription painkiller OxyContin made by Purdue Pharma LP sit on a shelf at a local pharmacy in Provo, Utah, April 25, 2017. Kineta Chronic Pain LLC has inked a drug collaboration deal with pharmaceutical giant Genentech to develop non-opioid chronic pain treatment. The Seattle-based …

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Bitcoin traders are banking on a big rebound once tax day passes

The Internal Revenue Service views bitcoin and other cryptocurrencies as property, meaning profits from transactions are subject to capital gains tax. Bitcoin rose more than 1,300 percent last year, and as a result, U.S. households will owe roughly $25 billion in taxes for digital currency holdings, according to Tom Lee, …

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SpaceX to launch NASA planet hunter TESS

NASA TESS, the Transiting Exoplanet Survey Satellite, is the next step in the search for planets outside of our solar system. SpaceX is getting set to launch a satellite for NASA that aims to discover thousands of planets over two years. NASA’s Transiting Exoplanet Survey Satellite (TESS) is slated to …

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Blockchain to disrupt Swiss hold on global bank system, Moody’s says

The blockchain technology underlying bitcoin could hurt Swiss banks the most, according to Moody’s Investors Service. “While making cross-border transactions faster and less expensive would be credit positive for banks, these efficiencies could also compress their fees and commissions, a credit negative,” Moody’s said in a report Monday. In that …

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No turnaround for Apple in China due to smartphone ‘saturation:’ UBS

Fred Dufour | AFP | Getty Images A Chinese woman reacts while setting up the facial recognition feature on her iPhone X inside an Apple showroom in Beijing on November 3, 2017. Apple’s iPhone sales in China will not return to their peak levels anytime soon, according to one Wall …

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