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New York City Council votes to cap licenses for ride-hailing services like Uber and Lyft

The New York City Council has approved legislation that will halt the issuing of new licenses for ride-hailing services like Uber and Lyft. The stated goal of the policy is to give the city time to study the industry’s impact. During that time, ride-hailing companies would only be able to add new vehicles if they’re… Continue reading New York City Council votes to cap licenses for ride-hailing services like Uber and Lyft

Musk tweet sparks debate on Tesla leadership

As a corporate governance expert, Atkins also sits on the board of at least four public companies, including Cognizant, Wynn Resorts, SL Green Realty and Schneider Electric, as well as the privately held Volvo Cars. “Tesla’s board knows they have a rogue CEO. Why aren’t they doing more?” Atkins said Wednesday on CNBC’s “Squawk on… Continue reading Musk tweet sparks debate on Tesla leadership

UPDATE 7-U.S. SEC examining Musk’s tweets on taking Tesla private -WSJ

(Reuters) – U.S. regulators are asking Tesla Inc (TSLA.O) why Chief Executive Elon Musk announced his plan to take the electric carmaker private on Twitter and whether his statement was truthful, the Wall Street Journal reported on Wednesday. Musk announced his plan on his personal Twitter account on Tuesday, and the U.S. Securities and Exchange… Continue reading UPDATE 7-U.S. SEC examining Musk’s tweets on taking Tesla private -WSJ

Uber Hit With Cap as New York City Takes Lead in Crackdown

New York is the latest city to grapple with questions over how to regulate the company. In London, Uber’s most lucrative European market, Uber recently regained its taxi license after the company agreed to stricter regulations, including providing the city with traffic data. Uber has also faced regulatory battles in American cities, like Austin, Tex.,… Continue reading Uber Hit With Cap as New York City Takes Lead in Crackdown

Ford executive says baby offroader in product pipeline

(Reuters) – Ford Motor Co (F.N) plans to introduce a small utility vehicle based on its compact Focus sedan, with more rugged offroad styling cues than the Escape, a top executive said on Wednesday. FILE PHOTO – A Ford logo is pictured at a car dealership in Monterrey, Mexico, November 9, 2016. REUTERS/Daniel Becerril/File Photo… Continue reading Ford executive says baby offroader in product pipeline

Intel sold $1 bln of artificial intelligence chips in 2017

SANTA CLARA (Reuters) – Intel Corp on Wednesday said it sold $1 billion of artificial intelligence processor chips in 2017, the first time the world’s second-largest chipmaker disclosed revenue from the fast-growing computing segment that has fueled sales expansions at rivals such as Nvidia Corp. FILE PHOTO: The Intel logo is shown at E3, the… Continue reading Intel sold $1 bln of artificial intelligence chips in 2017

Elon Musk grumbles at short-sellers, but is private ownership right for Tesla? | Nils Pratley

Nils Pratley on finance Elon Musk Elon Musk grumbles at short-sellers, but is private ownership right for Tesla? Nils Pratley A buy-out could be done, but may not be the paradise the entrepreneur imagines Elon Musk of Tesla Motors. Photograph: Toru Hanai/Reuters Tesla’s Elon Musk isn’t the first chief executive to be infuriated by short-sellers,… Continue reading Elon Musk grumbles at short-sellers, but is private ownership right for Tesla? | Nils Pratley

Wall Street questions whether Musk has ‘funding secured’ and ‘investor support’

In the Tweet that started it all, Musk stated the takeout price at $420 and that funding was already secured. Tweet Link “Disclosing news of this nature via twitter is unprecedented and, according to a former [Securities and Exchange Commission] chairman, may constitute fraud if Tesla does not already have the financing lined up,” wrote… Continue reading Wall Street questions whether Musk has ‘funding secured’ and
‘investor support’