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This basket consists of stocks expected to benefit from self-driving cars.
With the COVID-19 pandemic making work from home the default for those companies that are able to do so, it's no surprise that we are seeing a massive rise in the usage of video chat tools like Zoom, Google Meet and Teams. Back on March 16, the company reported 900 million meeting minutes in Teams. During those meetings, more users than ever also turned on their video cameras.
U.S. electric vehicle maker Tesla Inc said on Friday it has started China sales of two more Model 3 variants built at its Shanghai plant, meaning all Model 3 sedans sold in the country are now locally made and not subject to import tax. The development comes at the tail end of a Sino-U.S. trade war characterised by tit-for-tat tariffs on goods and services as varied as metals and cars, which bumped up prices of U.S. made goods in China. It also comes after Tesla suspended production at its San Francisco Bay Area plant due to the broader impact of the coronavirus, with plans to resume normal operation on May 4.
The U.S. Justice Department and other federal agencies on Thursday called on the Federal Communications Commission (FCC) to revoke China Telecom (Americas) Corp's authorization to provide international telecommunications services to and from the United States. China Telecom is the U.S. subsidiary of a People’s Republic of China (PRC) state-owned telecommunications company.
France's competition regulator said Thursday that Google must start paying media groups for displaying their content, ordering it to begin negotiations after refusing for months to comply with Europe's new digital copyright law. The agency said it "requires Google, within three months, to conduct negotiations in good faith with publishers and news agencies on the remuneration for the re-use of their protected contents". "This injunction requires that the negotiations effectively result in a proposal for remuneration from Google" that must be applied retroactively to October 2019, when France became the first country to ratify the EU law.
Toyota (TM) pushes back the restart of plants in North America ??? including Canada, Mexico and the United States ??? by an additional two weeks.
Investing.com -- U.S. stock markets remained higher in morning trading Thursday after the Federal Reserve broadened its monetary safety net and investors awaited a decision from OPEC+ on production cuts.
To stay connected amid the coronavirus-induced lockdown, people across the world are relying heavily on the Internet, which brightens up prospects for cloud players.
France's competition authority ruled on Thursday that Google must pay French publishing companies and news agencies for re-using their content. The U.S. tech firm said it would comply with the French competition authority verdict, which followed a complaint by unions representing French press publishers. "Google's practices caused a serious and immediate harm to the press sector, while the economic situation of publishers and news agencies is otherwise fragile," France's 'Autorite de la Concurrence' said in a statement.
The Federal Communications Commission (FCC) on Wednesday approved Alphabet Inc unit Google's request to use part of an U.S.-Asia undersea telecommunications cable after the company warned it would face significantly higher prices to carry traffic by other means. Google agreed to operate a portion of the 8,000-mile Pacific Light Cable Network System between the United States and Taiwan, but not Hong Kong. Google and Facebook Inc helped pay for construction of the now completed telecommunications link but U.S. regulators have blocked its use.
Google on Wednesday made its Stadia online video game service free to provide an escape for those hunkered down at home because of the coronavirus pandemic. Launched late last year, Stadia is crafted to let people access console-quality games as easily as they do email on an array of internet-linked devices. "Keeping social distance is vital, but staying home for long periods can be difficult and feel isolating," Stadia vide president Phil Harrison said in an online post.
Tesla said it planned to resume normal operations on May 4, barring any significant changes, according to an email sent to U.S. employees by in-house counsel Valerie Capers Workman, which was viewed by Reuters. Tesla did not immediately respond to a request for comment. The coronavirus pandemic has slashed U.S. demand for cars and forced several other automakers to furlough U.S. workers.
The idea to go for pay cuts, layoffs and furloughs is to conserve cash as Tesla, Inc. (TSLA) and other car companies continue to bleed with halt in production and deliveries.
Low gasoline prices are generally considered a negative for electric vehicles as their ICE competitors become cheaper to run, but Tesla is still outperforming its gasoline rivals
Autonomous delivery startup Nuro has been granted a permit to begin driverless testing on California's public roads, paving the way for the company to roll out commercial operations throughout the state. Nuro, which raised $940 million from SoftBank Vision Fund last year, is allowed to put two of its low-speed electric R2 delivery vehicles on public roads in parts of Santa Clara and San Mateo counties, according to the California Department of Motor Vehicles, the agency that regulates autonomous vehicle testing in the state. The driverless permit allows the vehicles to operate at a maximum speed of 25 mph and only in fair weather conditions on streets with a speed limit of no more than 35 mph, the DMV said Tuesday.
Elon Musk's Tesla told employees on Tuesday (April 8) the company will furlough all non-essential workers and start implementing salary cuts. It's part a continued shutdown of Tesla's U.S. production facilities. Tesla says they plan to resume normal operations on May 4. That's according to an email sent by the company's in-house lawyers which was seen by Reuters. It joins a long list of automakers which have also been forced to furlough U.S. workers as demand for cars plummets. The suspension interrupts Tesla's plans to ramp up production of its Model Y sport utility vehicle. According to Musk, demand for the Model Y was expected to top all of Tesla's other models combined. Tesla said in late March they have enough cash flow to successfully navigate the upcoming period of uncertainty. But for now, pay for salaried Tesla employees will be reduced starting April 13, and cuts will remain in place until the end of the second quarter.