Tesla upgrades Model S and Model X cars, brings back cheaper variants

Tesla, struggling with delay in delivery of its higher-priced Model S and X luxury cars, said on Tuesday it will bring back lower-priced options for those cars and roll out upgrades to improve their driving range and re-charging speed. Tesla has since said it will keep higher-volume stores open, while announcing a 3 percent price increase on some models. With the upgrades, the long-range version of Model S and X can now travel 370 miles (595.5 km) and 325 miles, respectively, on the U.S. Environ


Tesla, struggling with delay in delivery of its higher-priced Model S and X luxury cars, said on Tuesday it will bring back lower-priced options for those cars and roll out upgrades to improve their driving range and re-charging speed. Tesla has since said it will keep higher-volume stores open, while announcing a 3 percent price increase on some models. With the upgrades, the long-range version of Model S and X can now travel 370 miles (595.5 km) and 325 miles, respectively, on the U.S. Environ
Tesla upgrades Model S and Model X cars, brings back cheaper variants Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: vivek prakash, afp, getty images
Keywords: news, cnbc, companies, upgrades, cheaper, brings, model, stores, variants, cars, respectively, range, vehicle, tesla


Tesla upgrades Model S and Model X cars, brings back cheaper variants

Tesla, struggling with delay in delivery of its higher-priced Model S and X luxury cars, said on Tuesday it will bring back lower-priced options for those cars and roll out upgrades to improve their driving range and re-charging speed.

The company, striving to improve margins and post a profit later this year, has laid off workers including about half of the team hired to deliver cars in the United States, and said it would close stores to lower costs.

Tesla has since said it will keep higher-volume stores open, while announcing a 3 percent price increase on some models.

The upgrades include a new drivetrain design and a new adaptive suspension system, increasing each vehicle’s driving range, the company said in a blog post ahead of its first-quarter results on Wednesday.

With the upgrades, the long-range version of Model S and X can now travel 370 miles (595.5 km) and 325 miles, respectively, on the U.S. Environmental Protection Agency cycle.

The lower-priced options, or the ‘standard range’ versions, of Model X and Model S were available for purchase on Tesla’s website after Tuesday’s announcement for $83,000 and $78,000, respectively. Estimated delivery of both cars was set for May.

Earlier in April, Tesla reported fewer-than-expected vehicle deliveries in the first quarter, with figures for the Model S sedans and Model X SUVs more-than-halving compared with the preceding quarter.

The Silicon Valley carmaker has faced a range of challenges over the past year as one of the leaders in electric vehicle technology sought to ramp up production, deliveries and sales of the Model 3 sedan seen as crucial to its long-term profitability.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: vivek prakash, afp, getty images
Keywords: news, cnbc, companies, upgrades, cheaper, brings, model, stores, variants, cars, respectively, range, vehicle, tesla


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Tesla is investigating the apparent explosion of a parked car in Shanghai

Tesla said Monday it immediately sent a team to investigate an apparent explosion of one of its cars that occurred in Shanghai on Sunday evening local time. There are no known casualties at this time, the electric car company said in a Chinese-language post on Weibo, China’s version of Twitter. It was not immediately clear which Tesla model was affected, but reports indicated the car was parked at the time of the fire. In January, Chicago law firm Corboy & Demetrio said that there have been at l


Tesla said Monday it immediately sent a team to investigate an apparent explosion of one of its cars that occurred in Shanghai on Sunday evening local time. There are no known casualties at this time, the electric car company said in a Chinese-language post on Weibo, China’s version of Twitter. It was not immediately clear which Tesla model was affected, but reports indicated the car was parked at the time of the fire. In January, Chicago law firm Corboy & Demetrio said that there have been at l
Tesla is investigating the apparent explosion of a parked car in Shanghai Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: evelyn cheng
Keywords: news, cnbc, companies, version, worldwide, tesla, model, vehicles, parked, explosion, immediately, car, weibo, investigating, shanghai, apparent


Tesla is investigating the apparent explosion of a parked car in Shanghai

Tesla said Monday it immediately sent a team to investigate an apparent explosion of one of its cars that occurred in Shanghai on Sunday evening local time.

There are no known casualties at this time, the electric car company said in a Chinese-language post on Weibo, China’s version of Twitter. Tesla also said it is in active communication and cooperation with relevant departments about the situation.

It was not immediately clear which Tesla model was affected, but reports indicated the car was parked at the time of the fire.

In January, Chicago law firm Corboy & Demetrio said that there have been at least a dozen cases worldwide in the last five years of Model S batteries exploding in collisions and parked vehicles. The statement was part of a lawsuit filed against Tesla that alleged a 2014 Model S had a defective battery pack, causing an 18-year-old passenger to die in an accident last year, Reuters reported.

—Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: evelyn cheng
Keywords: news, cnbc, companies, version, worldwide, tesla, model, vehicles, parked, explosion, immediately, car, weibo, investigating, shanghai, apparent


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Qualcomm just added $26 billion to market cap—Cramer, experts weigh in

On Tuesday, chipmaker Qualcomm and iPhone maker Apple settled a yearslong dispute over patent royalties, sending shares of Qualcomm on a more than 35% tear over the course of two days, a $26 billion boost to its market cap. Cerity Partners’ Jim Lebenthal saw huge runway for Qualcomm’s stock:”I think you stick with this stock. But what happened yesterday validated … the high-margin [intellectual property] model that Qualcomm has depended on for 25 years. Pete Najarian of Investitute.com also no


On Tuesday, chipmaker Qualcomm and iPhone maker Apple settled a yearslong dispute over patent royalties, sending shares of Qualcomm on a more than 35% tear over the course of two days, a $26 billion boost to its market cap. Cerity Partners’ Jim Lebenthal saw huge runway for Qualcomm’s stock:”I think you stick with this stock. But what happened yesterday validated … the high-margin [intellectual property] model that Qualcomm has depended on for 25 years. Pete Najarian of Investitute.com also no
Qualcomm just added $26 billion to market cap—Cramer, experts weigh in Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: lizzy gurdus, sopa images, lightrocket, getty images, anthony kwan, bloomberg, source, michael nagle, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, times, buying, capcramer, apple, saw, know, huge, market, added, 26, billion, stock, model, weigh, way, experts, qualcomm


Qualcomm just added $26 billion to market cap—Cramer, experts weigh in

One of big tech’s biggest battles is now over, and it’s making Wall Street more bullish on the space.

On Tuesday, chipmaker Qualcomm and iPhone maker Apple settled a yearslong dispute over patent royalties, sending shares of Qualcomm on a more than 35% tear over the course of two days, a $26 billion boost to its market cap.

Here’s what four top market watchers had to say about the newfound prospects for Qualcomm and Apple:

Jim Cramer, host of CNBC’s “Mad Money,” was excited about what this deal means for Apple:

“The thing that I don’t understand is why isn’t Apple up more? Before, we had 5G that was completely uncertain. We had no way to build a model on 5G. Now you have 5G. So … I believe next Christmas — not this year, but next year — could be the biggest Apple Christmas in history. So, you want to sell the stock now, because you know that next year at this time you can buy it back at $270?”

Cerity Partners’ Jim Lebenthal saw huge runway for Qualcomm’s stock:

“I think you stick with this stock. I do understand that it’s up something like 33% in two days, but fair value to me on this stock is $96 a share. With Apple revenues and earnings now back in the picture — they’ve been out for two years — you’re looking at earnings around $6 [per share], probably north of that. But use $6, put a 16 [times price-to-earnings] multiple on that, [and] you get to $96. If you want to know, why 16 times? Look: if this were just a chip manufacturer, you’d say 10 to 12 times. But what happened yesterday validated … the high-margin [intellectual property] model that Qualcomm has depended on for 25 years. That deserves a much higher multiple. And, look, for people who know this stock over the last 20 years, this Apple issue isn’t the first time they’ve been challenged on this. You go back to Broadcom 15 years ago; same thing happened. You had Samsung, you had countries, whether it’s Korea, China [or] the U.S. right now. This model has been tested again and again and again and they always come out on top. That’s why I love this stock at $50, but $96, 25% higher? I see that by summer.”

Pete Najarian of Investitute.com also noted how well Qualcomm was holding up:

“Yesterday I had options and stock in here, and it all started when we had some huge buying. And we were talking about everything being short term. Well, you go back to February, March: all of a sudden, we saw some October buying [and] we saw some July buying in here. By the way, those July [options were] July $62.50 calls — how are they doing? 80 cents, and now the stock’s trading, what is it? $77, $78? So these are now trading, call it, somewhere close to some real money. So these are huge gains. You have to take stuff off into that. I took it off way too early. I was taking this off yesterday in the afternoon as I’m watching the stock scream to the upside because I thought, ‘At any moment, we’re going to see something that’s going to pull it back down.’ It hasn’t happened.”

Virtus Investment Partners’ Joe Terranova had his eyes on a sidelined winner:


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: lizzy gurdus, sopa images, lightrocket, getty images, anthony kwan, bloomberg, source, michael nagle, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, times, buying, capcramer, apple, saw, know, huge, market, added, 26, billion, stock, model, weigh, way, experts, qualcomm


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Qualcomm just added $26 billion to market cap—Cramer, experts weigh in

On Tuesday, chipmaker Qualcomm and iPhone maker Apple settled a yearslong dispute over patent royalties, sending shares of Qualcomm on a more than 35% tear over the course of two days, a $26 billion boost to its market cap. Cerity Partners’ Jim Lebenthal saw huge runway for Qualcomm’s stock:”I think you stick with this stock. But what happened yesterday validated … the high-margin [intellectual property] model that Qualcomm has depended on for 25 years. Pete Najarian of Investitute.com also no


On Tuesday, chipmaker Qualcomm and iPhone maker Apple settled a yearslong dispute over patent royalties, sending shares of Qualcomm on a more than 35% tear over the course of two days, a $26 billion boost to its market cap. Cerity Partners’ Jim Lebenthal saw huge runway for Qualcomm’s stock:”I think you stick with this stock. But what happened yesterday validated … the high-margin [intellectual property] model that Qualcomm has depended on for 25 years. Pete Najarian of Investitute.com also no
Qualcomm just added $26 billion to market cap—Cramer, experts weigh in Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: lizzy gurdus, sopa images, lightrocket, getty images, anthony kwan, bloomberg, source, michael nagle, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, times, buying, capcramer, apple, saw, know, huge, market, added, 26, billion, stock, model, weigh, way, experts, qualcomm


Qualcomm just added $26 billion to market cap—Cramer, experts weigh in

One of big tech’s biggest battles is now over, and it’s making Wall Street more bullish on the space.

On Tuesday, chipmaker Qualcomm and iPhone maker Apple settled a yearslong dispute over patent royalties, sending shares of Qualcomm on a more than 35% tear over the course of two days, a $26 billion boost to its market cap.

Here’s what four top market watchers had to say about the newfound prospects for Qualcomm and Apple:

Jim Cramer, host of CNBC’s “Mad Money,” was excited about what this deal means for Apple:

“The thing that I don’t understand is why isn’t Apple up more? Before, we had 5G that was completely uncertain. We had no way to build a model on 5G. Now you have 5G. So … I believe next Christmas — not this year, but next year — could be the biggest Apple Christmas in history. So, you want to sell the stock now, because you know that next year at this time you can buy it back at $270?”

Cerity Partners’ Jim Lebenthal saw huge runway for Qualcomm’s stock:

“I think you stick with this stock. I do understand that it’s up something like 33% in two days, but fair value to me on this stock is $96 a share. With Apple revenues and earnings now back in the picture — they’ve been out for two years — you’re looking at earnings around $6 [per share], probably north of that. But use $6, put a 16 [times price-to-earnings] multiple on that, [and] you get to $96. If you want to know, why 16 times? Look: if this were just a chip manufacturer, you’d say 10 to 12 times. But what happened yesterday validated … the high-margin [intellectual property] model that Qualcomm has depended on for 25 years. That deserves a much higher multiple. And, look, for people who know this stock over the last 20 years, this Apple issue isn’t the first time they’ve been challenged on this. You go back to Broadcom 15 years ago; same thing happened. You had Samsung, you had countries, whether it’s Korea, China [or] the U.S. right now. This model has been tested again and again and again and they always come out on top. That’s why I love this stock at $50, but $96, 25% higher? I see that by summer.”

Pete Najarian of Investitute.com also noted how well Qualcomm was holding up:

“Yesterday I had options and stock in here, and it all started when we had some huge buying. And we were talking about everything being short term. Well, you go back to February, March: all of a sudden, we saw some October buying [and] we saw some July buying in here. By the way, those July [options were] July $62.50 calls — how are they doing? 80 cents, and now the stock’s trading, what is it? $77, $78? So these are now trading, call it, somewhere close to some real money. So these are huge gains. You have to take stuff off into that. I took it off way too early. I was taking this off yesterday in the afternoon as I’m watching the stock scream to the upside because I thought, ‘At any moment, we’re going to see something that’s going to pull it back down.’ It hasn’t happened.”

Virtus Investment Partners’ Joe Terranova had his eyes on a sidelined winner:


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: lizzy gurdus, sopa images, lightrocket, getty images, anthony kwan, bloomberg, source, michael nagle, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, times, buying, capcramer, apple, saw, know, huge, market, added, 26, billion, stock, model, weigh, way, experts, qualcomm


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This life-size McLaren supercar is made out of Legos — take a look

McLaren, a car company known for making expensive sports cars, debuted the Senna model in 2018. Only 500 cars were made and sold out about $1 million each, and one recently sold at auction for $1.4 million. McLaren has made one more Senna — though it’s built out of Legos.


McLaren, a car company known for making expensive sports cars, debuted the Senna model in 2018. Only 500 cars were made and sold out about $1 million each, and one recently sold at auction for $1.4 million. McLaren has made one more Senna — though it’s built out of Legos.
This life-size McLaren supercar is made out of Legos — take a look Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: jimmy im
Keywords: news, cnbc, companies, mclaren, sold, million, look, cars, model, legos, supercar, senna, recently, millionmclaren, lifesize, making


This life-size McLaren supercar is made out of Legos — take a look

McLaren, a car company known for making expensive sports cars, debuted the Senna model in 2018. Only 500 cars were made and sold out about $1 million each, and one recently sold at auction for $1.4 million.

McLaren has made one more Senna — though it’s built out of Legos.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: jimmy im
Keywords: news, cnbc, companies, mclaren, sold, million, look, cars, model, legos, supercar, senna, recently, millionmclaren, lifesize, making


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Volkswagen plans to take on Tesla’s Model X in China

Volkswagen plans to build a fully electric sports utility vehicle (SUV) for China from 2021, taking on the Chinese market leader Tesla’s Model X as the German carmaker ramps up production of zero emissions vehicles. The planned new SUV is the latest move in Volkswagen’s aggressive growth strategy in China, where electric cars are given preferential treatment by authorities. VW Chief Executive Herbert Diess said the ID ROOMZ will be the flagship electric car to be launched by Volkswagen in China.


Volkswagen plans to build a fully electric sports utility vehicle (SUV) for China from 2021, taking on the Chinese market leader Tesla’s Model X as the German carmaker ramps up production of zero emissions vehicles. The planned new SUV is the latest move in Volkswagen’s aggressive growth strategy in China, where electric cars are given preferential treatment by authorities. VW Chief Executive Herbert Diess said the ID ROOMZ will be the flagship electric car to be launched by Volkswagen in China.
Volkswagen plans to take on Tesla’s Model X in China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: picture alliance, getty images
Keywords: news, cnbc, companies, cars, car, production, teslas, china, id, suv, volkswagen, vw, plans, groups, electric, roomz, model


Volkswagen plans to take on Tesla's Model X in China

Volkswagen plans to build a fully electric sports utility vehicle (SUV) for China from 2021, taking on the Chinese market leader Tesla’s Model X as the German carmaker ramps up production of zero emissions vehicles.

The planned new SUV is the latest move in Volkswagen’s aggressive growth strategy in China, where electric cars are given preferential treatment by authorities.

VW said its ID ROOMZZ, which it presented in Shanghai on Sunday, will have three rows of seats and an operating range of up to 450 kms. The concept car is capable of a “level 4 autonomous driving”, VW said.

VW Chief Executive Herbert Diess said the ID ROOMZ will be the flagship electric car to be launched by Volkswagen in China.

“We plan to produce more than 22 million electric cars in the next 10 years,” Diess said, adding that around half of VW’s engineers were working on products destined for China.

Diess said the ID ROOMZ would eventually be rolled out to other markets.

To enhance the VW Group’s research and development capabilities, Volkswagen and its premium brand Audi will combine their R&D operations in China.

VW brand’s head of e-mobility Thomas Ulbrich said the carmaker will start ramping up production of 33 electric cars by mid-2023, using VW Group’s modular electric car (MEB) platform to build electric cars for the Skoda, Seat, Audi and VW brands.

Ulbrich said VW Group is converting 16 factories worldwide to enable mass production of electric vehicles, of which eight plants will be making VW branded car.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: picture alliance, getty images
Keywords: news, cnbc, companies, cars, car, production, teslas, china, id, suv, volkswagen, vw, plans, groups, electric, roomz, model


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Tesla starts offering leases for Model 3

Tesla on Thursday started leasing out its Model 3 sedan in the United States, in a financing option that would increase the electric car maker’s customer base. Tesla said that it would begin bundling its autopilot software as a standard feature on all cars, raising the base price, and would drop the entry-level Model 3 Standard from online ordering. As a result, the lowest-priced Model 3 available for order on its online menu in the United States is now the $39,500 Standard Plus, which includes


Tesla on Thursday started leasing out its Model 3 sedan in the United States, in a financing option that would increase the electric car maker’s customer base. Tesla said that it would begin bundling its autopilot software as a standard feature on all cars, raising the base price, and would drop the entry-level Model 3 Standard from online ordering. As a result, the lowest-priced Model 3 available for order on its online menu in the United States is now the $39,500 Standard Plus, which includes
Tesla starts offering leases for Model 3 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: dursun aydemir, anadolu agency, getty images
Keywords: news, cnbc, companies, tesla, offering, online, states, united, version, car, plus, model, starts, variant, leases, standard


Tesla starts offering leases for Model 3

Tesla on Thursday started leasing out its Model 3 sedan in the United States, in a financing option that would increase the electric car maker’s customer base.

Tesla said its customers in the United States would be able to lease any Model 3 variant for a small down payment and monthly payments thereafter, but they will not have the option to buy the car at the end of the lease.

Tesla said that it would begin bundling its autopilot software as a standard feature on all cars, raising the base price, and would drop the entry-level Model 3 Standard from online ordering.

As a result, the lowest-priced Model 3 available for order on its online menu in the United States is now the $39,500 Standard Plus, which includes Autopilot.

The company in February had rolled out its long-awaited $35,000 version of the car with great fanfare.

The company also said the Standard variant of Model 3 will now be a software-limited version of the Standard Plus, to simplify production.

As part of the changes to its online ordering, Tesla said the Model 3 Standard variant and the Model 3 Long Range Rear-Wheel Drive will be taken off the online ordering menu but will still be available for order by phone or in stores.


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: dursun aydemir, anadolu agency, getty images
Keywords: news, cnbc, companies, tesla, offering, online, states, united, version, car, plus, model, starts, variant, leases, standard


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Tesla and Panasonic reportedly freeze spending on $4.5 billion Gigafactory

Tesla and Panasonic have paused expansion of the Gigafactory 1, as investors increasingly worry about possibly weakening demand for Tesla cars, the Nikkei Asian Review reported Thursday. The $4.5 billion Gigafactory near Reno, Nevada, is where Panasonic and Tesla jointly make the battery packs for Tesla’s cars and energy storage products, and where parts of the Model 3 sedan are made. Tesla said in its fourth-quarter letter to shareholders that it will “most likely” build the recently unveiled M


Tesla and Panasonic have paused expansion of the Gigafactory 1, as investors increasingly worry about possibly weakening demand for Tesla cars, the Nikkei Asian Review reported Thursday. The $4.5 billion Gigafactory near Reno, Nevada, is where Panasonic and Tesla jointly make the battery packs for Tesla’s cars and energy storage products, and where parts of the Model 3 sedan are made. Tesla said in its fourth-quarter letter to shareholders that it will “most likely” build the recently unveiled M
Tesla and Panasonic reportedly freeze spending on $4.5 billion Gigafactory Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: robert ferris, bob strong
Keywords: news, cnbc, companies, panasonic, reportedly, spending, 45, freeze, previously, nikkei, tesla, shareholders, likely, gigafactory, model, billion, review


Tesla and Panasonic reportedly freeze spending on $4.5 billion Gigafactory

Tesla and Panasonic have paused expansion of the Gigafactory 1, as investors increasingly worry about possibly weakening demand for Tesla cars, the Nikkei Asian Review reported Thursday.

Tesla shares fell 3.5% in premarket trading Thursday morning.

The $4.5 billion Gigafactory near Reno, Nevada, is where Panasonic and Tesla jointly make the battery packs for Tesla’s cars and energy storage products, and where parts of the Model 3 sedan are made. Tesla said in its fourth-quarter letter to shareholders that it will “most likely” build the recently unveiled Model Y crossover at the factory.

Panasonic and Tesla had previously planned to increase the factory’s capacity by 50 percent by 2020, but have since reconsidered their plans, the Nikkei Asian Review said.

The news comes a week after Tesla released quarterly delivery numbers that missed Wall Street expectations by a wide margin.

Tesla did say U.S. orders for Model 3 vehicles significantly outpaced what it was able to deliver in the first quarter, and the company reaffirmed its prior guidance of 360,000 to 400,000 vehicle deliveries in 2019.

“We will of course continue to make new investments in Gigafactory 1, as needed,” Tesla said in a statement Thursday. “However, we think there is far more output to be gained from improving existing production equipment than was previously estimated.”

Panasonic did not immediately respond to a request for comment from CNBC.

Clarification: This story has been updated to clarify that Tesla said in its fourth-quarter letter to shareholders that it will “most likely” build the Model Y at the Gigafactory.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: robert ferris, bob strong
Keywords: news, cnbc, companies, panasonic, reportedly, spending, 45, freeze, previously, nikkei, tesla, shareholders, likely, gigafactory, model, billion, review


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Boeing first-quarter deliveries and orders sink after 737 Max groundings

Boeing announced Tuesday that deliveries and new orders for all of its 737 jets fell in the first quarter. Boeing announced Friday that it’s cutting production by 20 percent as it tries to find a software fix to get the planes flying again. Deliveries of its 737s tumbled to 89 during the first three months of the year, a dip from 132 during the same period last year. Total orders for 737s, the majority of which were for the newer Max model, fell to 95 in the first quarter, a drop from 180 a year


Boeing announced Tuesday that deliveries and new orders for all of its 737 jets fell in the first quarter. Boeing announced Friday that it’s cutting production by 20 percent as it tries to find a software fix to get the planes flying again. Deliveries of its 737s tumbled to 89 during the first three months of the year, a dip from 132 during the same period last year. Total orders for 737s, the majority of which were for the newer Max model, fell to 95 in the first quarter, a drop from 180 a year
Boeing first-quarter deliveries and orders sink after 737 Max groundings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: emma newburger, lindsey wasson
Keywords: news, cnbc, companies, announced, 737, boeing, model, max, groundings, orders, firstquarter, deliveries, sink, tumbled, fell, 737s


Boeing first-quarter deliveries and orders sink after 737 Max groundings

Boeing announced Tuesday that deliveries and new orders for all of its 737 jets fell in the first quarter.

The plane maker has halted deliveries of the 737 Max, the latest model of the popular narrow-body jet, after faulty data feeding into the aircraft’s automated flight system was implicated in two fatal crashes that killed all 346 people aboard the flights. Boeing announced Friday that it’s cutting production by 20 percent as it tries to find a software fix to get the planes flying again. They’ve been grounded since the second crash in mid-March.

Deliveries of its 737s tumbled to 89 during the first three months of the year, a dip from 132 during the same period last year. Total orders for 737s, the majority of which were for the newer Max model, fell to 95 in the first quarter, a drop from 180 a year earlier. There were no new 737 Max orders in March.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: emma newburger, lindsey wasson
Keywords: news, cnbc, companies, announced, 737, boeing, model, max, groundings, orders, firstquarter, deliveries, sink, tumbled, fell, 737s


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Investors are starting to realize that not all emerging markets are worth the risk

All of this ahead of an election later in the year. Turkey is also in the midst of stagnation. 2018 was a year that saw the world shaken up by a confluence of factors: tightening financial conditions, a slowing China, a global trade shock and financial market instability. But what if the worst has merely been postponed as indebted countries have not used this time to repair their growth composition? Turkey is a good litmus test.


All of this ahead of an election later in the year. Turkey is also in the midst of stagnation. 2018 was a year that saw the world shaken up by a confluence of factors: tightening financial conditions, a slowing China, a global trade shock and financial market instability. But what if the worst has merely been postponed as indebted countries have not used this time to repair their growth composition? Turkey is a good litmus test.
Investors are starting to realize that not all emerging markets are worth the risk Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-02  Authors: joumanna bercetche, eitan abramovich, afp, getty images
Keywords: news, cnbc, companies, international, risk, financial, turkey, growth, markets, starting, worth, weekend, model, emerging, worst, trade, inflation, president, realize, investors


Investors are starting to realize that not all emerging markets are worth the risk

Argentina is in the depths of a recession having contracted 6.2 percent in the last quarter of 2019 as President Mauricio Macri grapples with high levels of inflation and pressure from the International Monetary Fund to implement austerity measures. All of this ahead of an election later in the year.

Turkey is also in the midst of stagnation. The economy contracted 3 percent toward the end of 2018, inflation is just shy of 20 percent with pass-through from the currency after the lira depreciated 30 percent in 2018.

Analysts have labeled the local elections this past weekend as a referendum on President Recep Tayyip Erdogan’s policies, but one trader told me that either way “we are likely to see more volatility as locals continue to buy dollars and are worried about the growth outlook.”

Robin Brooks, the chief economist at the Institute of International Finance, wrote in a note last week that beyond politics, “markets would like to see a shift in the growth model: away from a credit-dependent model towards a more sustainable one,” adding that one cannot assume Turkey is an isolated event as investors become increasingly wary of financing countries that are too heavily indebted/credit dependent.

2018 was a year that saw the world shaken up by a confluence of factors: tightening financial conditions, a slowing China, a global trade shock and financial market instability.

With optimism about a China-U.S. trade deal, the Fed turning dovish as well as more positive data out of China over the weekend, one could say that the worst is behind us. But what if the worst has merely been postponed as indebted countries have not used this time to repair their growth composition? Turkey is a good litmus test.


Company: cnbc, Activity: cnbc, Date: 2019-04-02  Authors: joumanna bercetche, eitan abramovich, afp, getty images
Keywords: news, cnbc, companies, international, risk, financial, turkey, growth, markets, starting, worth, weekend, model, emerging, worst, trade, inflation, president, realize, investors


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