Business

Business

Tesla boosts all-in bet on Musk with $2.6 billion option award

(c) 2018, Bloomberg. It is the Elon Musk of corporate pay deals, a cocksure, all-or-nothing moonshot into history. Little wonder, then, that it is for none other than Elon Musk. Tesla granted a $2.6 billion award to its billionaire founder, the largest-ever of its kind, underscoring the company’s...


Business

Solar around the world exhales as Trump's tariffs lack bite

(c) 2018, Bloomberg. Solar companies from the U.S. to Asia were breathing a collective sigh of relief on Tuesday after President Donald Trump announced tariffs on U.S. imports that, at 30 percent, were lower than most companies had feared. In China and South Korea, panel makers had been bracing...


Business

Mexico's election won't halt NAFTA talks, minister signals

(c) 2018, Bloomberg. Economy Minister Ildefonso Guajardo signaled that the Mexican government is willing to negotiate a reworking of NAFTA all through the run-up to July’s presidential election. July shouldn’t be ruled out simply due to the national vote, Guajardo said Tuesday in a Bloomberg...


Business

Facebook names former IBM Watson executive as head of AI group

(c) 2018, Bloomberg. Facebook appointed a former IBM executive to be head of its artificial intelligence group, bringing in an experienced manager to navigate the company’s broadening ambitions for how AI can shape its products. Jérôme Pesenti, former chief executive officer of AI startup...


Business

Tech and consumer-focused companies rise; Netflix leaps

Financial Markets Wall Street

NEW YORK (AP) — U.S. stocks are rising Tuesday with technology and consumer-focused companies leading the way. Netflix is surging after saying it gained more than 8 million subscribers at the end of 2017. Household goods makers including Johnson & Johnson and Procter & Gamble are sinking following...


Business

India, Canada defend free trade as US imposes tariffs

Switzerland Davos Forum

DAVOS, Switzerland (AP) — Just hours after President Donald Trump approved new tariffs on imports, the leaders of Canada and India came out forcefully Tuesday against a drift toward protectionism in the global economy. While Indian Prime Minister Narendra Modi said new barriers to trade could pose...


Business

Hope, fear as Puerto Rico moves to privatize power company

Puerto Rico Corruption

SAN JUAN, Puerto Rico (AP) — One of the largest public utilities in the U.S. might soon be up for sale, but many wonder who would want to buy a power company that is $9 billion in debt and has an infrastructure nearly three times older than the industry average. Concerns also are growing about...


State

Trump's move may nudge holdout GOP states to expand Medicaid

Medicaid Works Requirements

WASHINGTON (AP) — In an ironic twist, the Trump administration’s embrace of work requirements for low-income people on Medicaid is prompting lawmakers in some conservative states to resurrect plans to expand health care for the poor. Trump’s move has been widely criticized as threatening the...


Business

Verizon mulls entry to sports gambling as legalization nears

(c) 2018, Bloomberg. Verizon Communications is considering entering the multibillion-dollar market for sports betting, which could become legal in the U.S. before the year is out, according to people familiar with the matter. The New York-based phone giant, which last year bought Yahoo and its...


Business

Verizon sees $4 billion tax-cut boost amid wireless woes

(c) 2018, Bloomberg. Verizon Communications expects a massive windfall from U.S tax cuts to boost 2018 cash flow by $3.5 billion to $4 billion, giving the phone giant a lift during a challenging time. The tax-cut boon helped soften the blow as fourth-quarter earnings missed estimates. The largest U....


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