Nissan reportedly plans to file for damages against Ghosn in future

Nissan plans to file a civil suit against ousted chairman Carlos Ghosn to claim for damages resulting from alleged misuse of company funds, a person with knowledge of the issue said, which would add to the high profile executive’s legal headaches. Ghosn, who remains chairman and chief executive of Nissan partner Renault, has already been charged with three counts of financial misconduct and has been held at a detention centre in Tokyo for nearly two months. Ghosn denies the charges against him,


Nissan plans to file a civil suit against ousted chairman Carlos Ghosn to claim for damages resulting from alleged misuse of company funds, a person with knowledge of the issue said, which would add to the high profile executive’s legal headaches. Ghosn, who remains chairman and chief executive of Nissan partner Renault, has already been charged with three counts of financial misconduct and has been held at a detention centre in Tokyo for nearly two months. Ghosn denies the charges against him,
Nissan reportedly plans to file for damages against Ghosn in future Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: dimas ardian, bloomberg, getty images
Keywords: news, cnbc, companies, future, suit, ghosn, knowledge, nissans, damages, issue, ghosns, company, nissan, financial, residences, plans, reportedly, file, tokyo


Nissan reportedly plans to file for damages against Ghosn in future

Nissan plans to file a civil suit against ousted chairman Carlos Ghosn to claim for damages resulting from alleged misuse of company funds, a person with knowledge of the issue said, which would add to the high profile executive’s legal headaches.

Ghosn, who remains chairman and chief executive of Nissan partner Renault, has already been charged with three counts of financial misconduct and has been held at a detention centre in Tokyo for nearly two months.

On Tuesday, a Tokyo court denied his request for release on bail, raising the possibility that he may remain in custody for months before his trial begins.

Ghosn denies the charges against him, which include understating his salary for a total of eight years and temporarily transferring personal financial losses on to Nissan’s books.

“The broader investigation (into Ghosn’s alleged financial misconduct) continues to expand, so we will file a suit after that issue has been sorted out,” said a person familiar with the issue who spoke on condition of anonymity due to the sensitivity of the matter.

A civil suit could seek losses related to the alleged use of company funds to pay for the executive’s residences, donations to universities, and payments to a Saudi businessman who is believed have helped Ghosn out of financial difficulties.

Nissan declined to comment on the issue.

Ghosn regularly spent more than 100 days a year flying between Nissan’s headquarters in Yokohama and cities including Paris and had residences in Tokyo, Paris, Rio de Janeiro, Amsterdam and Beirut.

Nissan had been providing those residences to the executive, at a cost of tens of millions of dollars, but people inside the company with knowledge of the issue say the company was only aware that it had been paying rent for Ghosn’s apartment in Tokyo.

Reuters last month reported that payments for some of Ghosn’s residences were portioned out and processed through a Nissan unit in the Netherlands called Zi-A Capital BV and its subsidiaries, which initially had been set up to invest in technology start-ups.

Nissan is reviewing receipts and other financial records to see if purchases of residences and other expenses such as a yacht club membership and donations to universities in Lebanon, Ghosn’s ancestral homeland, had been approved and paid for properly, according to people with knowledge of the issue.

Ghosn’s arrest has sent shockwaves through the auto industry and rocked Nissan’s alliance with Mitsubishi Motors Corp and Renault.

Having been credited for masterminding Nissan’s financial turnaround two decades ago, the executive has since been removed from chairmanship positions at Nissan and Mitsubishi.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: dimas ardian, bloomberg, getty images
Keywords: news, cnbc, companies, future, suit, ghosn, knowledge, nissans, damages, issue, ghosns, company, nissan, financial, residences, plans, reportedly, file, tokyo


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Chinese automaker GAC motor delays plans to sell in US until 2020

Chinese automaker GAC Motor, which originally planned to start selling vehicles in the U.S. by late 2019, says it now plans to begin sales in first half of 2020. GAC would be the first Chinese brand vehicle sold in the U.S.Volvo, which is owned China based Geely Automotive, is the only automaker selling in the U.S. owned by a Chinese company. BehindTheWheel@cnbc.com.


Chinese automaker GAC Motor, which originally planned to start selling vehicles in the U.S. by late 2019, says it now plans to begin sales in first half of 2020. GAC would be the first Chinese brand vehicle sold in the U.S.Volvo, which is owned China based Geely Automotive, is the only automaker selling in the U.S. owned by a Chinese company. BehindTheWheel@cnbc.com.
Chinese automaker GAC motor delays plans to sell in US until 2020 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: phil lebeau, zhang peng, getty images
Keywords: news, cnbc, companies, delays, usvolvo, gac, motor, selling, owned, sales, chinese, start, vehicles, 2020, sold, sell, vehicle, plans, automaker


Chinese automaker GAC motor delays plans to sell in US until 2020

Chinese automaker GAC Motor, which originally planned to start selling vehicles in the U.S. by late 2019, says it now plans to begin sales in first half of 2020.

GAC would be the first Chinese brand vehicle sold in the U.S.

Volvo, which is owned China based Geely Automotive, is the only automaker selling in the U.S. owned by a Chinese company.

Questions? Comments? BehindTheWheel@cnbc.com.


Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: phil lebeau, zhang peng, getty images
Keywords: news, cnbc, companies, delays, usvolvo, gac, motor, selling, owned, sales, chinese, start, vehicles, 2020, sold, sell, vehicle, plans, automaker


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Apple needs to buy a production house like A24, Lionsgate, or Sony Pictures: Analyst

Apple should look into buying independent A24, or a bigger entertainment company such as Sony Pictures or Lionsgate, suggested the managing director of equity research at Wedbush Securities. With plans to jump into the crowded pool of online video, Apple is rumored to be launching its own streaming services as soon as March. Last year, Apple announced a multiyear deal with A24, a New York-based production company, that plans to make movies and TV shows for Apple device owners. Apple obtained wor


Apple should look into buying independent A24, or a bigger entertainment company such as Sony Pictures or Lionsgate, suggested the managing director of equity research at Wedbush Securities. With plans to jump into the crowded pool of online video, Apple is rumored to be launching its own streaming services as soon as March. Last year, Apple announced a multiyear deal with A24, a New York-based production company, that plans to make movies and TV shows for Apple device owners. Apple obtained wor
Apple needs to buy a production house like A24, Lionsgate, or Sony Pictures: Analyst Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: tyler clifford
Keywords: news, cnbc, companies, analyst, production, company, house, buy, ives, apple, video, terms, lionsgate, services, needs, a24, tv, sony, plans, pictures, deal


Apple needs to buy a production house like A24, Lionsgate, or Sony Pictures: Analyst

Performance of FANG will be mixed in 2019, says analyst 5 Hours Ago | 08:38

Apple must get serious and acquire a movie production company or the tech giant will not succeed as a services business, noted analyst Dan Ives told CNBC on Wednesday.

Apple should look into buying independent A24, or a bigger entertainment company such as Sony Pictures or Lionsgate, suggested the managing director of equity research at Wedbush Securities. “If they’re not aggressive in M&A from a content perspective … this will be, in our opinion, the biggest mistake that [CEO Tim Cook] and Apple has made, because that’s the way that the services flywheel is going to work in terms of the install base.”

With plans to jump into the crowded pool of online video, Apple is rumored to be launching its own streaming services as soon as March. The venture would allow the iPhone maker to enter an key market as it focuses more on providing subscription services and compete with established video providers like Netflix, Amazon Video, and Hulu.

Last year, Apple announced a multiyear deal with A24, a New York-based production company, that plans to make movies and TV shows for Apple device owners. Apple obtained worldwide rights to “The Elephant Queen,” a documentary directed by Emmy-Award winning filmmakers Victoria Stone and Mark Deeble, in September. It also cut a deal, according to Variety, with director-producer Justin Lin for TV content.

“The clock has struck midnight for Apple in terms of content,” Ives said on “Squawk Alley.”

Apple did not immediately respond to CNBC’s request for comment.

Shares of Apple were lower at midday on Monday. The stock has been working to recover ever since losing about 10 percent after cutting its fiscal first quarter guidance earlier this month.

Apple’s last major acquisition was a $400 million purchase of song-identification app Shazam in December 2017, which followed the $3 billion acquisition of Beat Electronics in 2014.


Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: tyler clifford
Keywords: news, cnbc, companies, analyst, production, company, house, buy, ives, apple, video, terms, lionsgate, services, needs, a24, tv, sony, plans, pictures, deal


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Some retailers put plans on hold amid economic uncertainty, Yellen says

“We are hearing anecdotal reports about businesses beginning to put investment plans on hold because of [economic] uncertainty,” she told CNBC’s Steve Liesman, who was moderating a panel session. Yellen said those investments in consideration could include things like upgrades to a retailer’s supply chain. “The trade tensions, I think, really concern businesses … in terms of what the future holds in store,” Yellen added. “I think if [the government shutdown] continues, it could impact consumer


“We are hearing anecdotal reports about businesses beginning to put investment plans on hold because of [economic] uncertainty,” she told CNBC’s Steve Liesman, who was moderating a panel session. Yellen said those investments in consideration could include things like upgrades to a retailer’s supply chain. “The trade tensions, I think, really concern businesses … in terms of what the future holds in store,” Yellen added. “I think if [the government shutdown] continues, it could impact consumer
Some retailers put plans on hold amid economic uncertainty, Yellen says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: lauren thomas, getty images
Keywords: news, cnbc, companies, retailers, amid, hold, trade, yellen, told, sales, macys, terms, consumer, things, uncertainty, think, plans, economic


Some retailers put plans on hold amid economic uncertainty, Yellen says

Retailers are increasingly cautious heading into 2019, with fears of cooling global growth and a market sell-off top of mind, Janet Yellen, former chair of the Federal Reserve, said Monday, during the National Retail Federation’s annual Big Show in New York.

“We are hearing anecdotal reports about businesses beginning to put investment plans on hold because of [economic] uncertainty,” she told CNBC’s Steve Liesman, who was moderating a panel session. Yellen said those investments in consideration could include things like upgrades to a retailer’s supply chain.

“The trade tensions, I think, really concern businesses … in terms of what the future holds in store,” Yellen added.

Her comments came on the heels of a handful of major retailers including Macy’s and Kohl’s reporting somewhat disappointing holiday sales last week. Macy’s stock had its worst day ever last Thursday, falling nearly 18 percent, when CEO Jeff Gennette said traffic at Macy’s stores and online “weakened” in mid-December and didn’t bounce back until close to Christmas. Analysts and investors had been expecting retailers to come out with more upbeat holiday sales, considering how strong consumer confidence has been in the U.S.

Now, headed into 2019, the fear is any momentum retailers had in 2018 is starting to fade. The driving narrative for much of 2018 was that with unemployment at record lows, consumers were more willing to open up their wallets and shop. Companies ranging from luxury brands to discount retailers reaped the benefits of that.

But now, the U.S. government has now been partially shut down for 24 days, the longest in history. President Donald Trump also launched a high-stakes trade war against China last year, keeping many retailers on their toes, as they don’t know what additional tariffs could be implemented next, if any.

“I think if [the government shutdown] continues, it could impact consumer psychology and consumer sentiment,” Yellen said Monday. But, she added, she doesn’t think there will be “disruption” so long as it ends “quickly.”

Also speaking at the NRF’s Big Show on Sunday, Kroger CEO Rodney McMullen told CNBC’s Sara Eisen, “From a customer standpoint … they feel incredibly good about the economy, but very nervous about where are things headed.”

“So, if you talk about things in the present, incredibly complimentary and excited,” McMullen said. “If you change the question a little bit in terms of, ‘Where do you think things are going?’ … a lot more uncertainty.”

Still, according to Yellen, “the fundamentals underlying consumer spending look excellent.” She said, “All the hard data we have on economic activity suggests things are in good shape.”


Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: lauren thomas, getty images
Keywords: news, cnbc, companies, retailers, amid, hold, trade, yellen, told, sales, macys, terms, consumer, things, uncertainty, think, plans, economic


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Ford CEO says a ‘big surprise’ coming next year with electric vehicles

Ford Motor is gearing up to launch new electric cars as soon as next year, CEO Jim Hackett told CNBC on Sunday. Ford has previously announced its plans to invest $11 billion in electric vehicles by 2022 and produce 40 hybrid and fully electric cars, in a plan to revive its slowing business. However, the company’s chief told CNBC that drivers should be prepared for ‘a big surprise’ from Ford. “We talked about a huge investment in electric vehicles. We have a pretty big surprise coming next year,”


Ford Motor is gearing up to launch new electric cars as soon as next year, CEO Jim Hackett told CNBC on Sunday. Ford has previously announced its plans to invest $11 billion in electric vehicles by 2022 and produce 40 hybrid and fully electric cars, in a plan to revive its slowing business. However, the company’s chief told CNBC that drivers should be prepared for ‘a big surprise’ from Ford. “We talked about a huge investment in electric vehicles. We have a pretty big surprise coming next year,”
Ford CEO says a ‘big surprise’ coming next year with electric vehicles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-13  Authors: yun li
Keywords: news, cnbc, companies, business, big, months, ceo, electric, coming, told, ford, surprise, vehicles, hackett, plans


Ford CEO says a 'big surprise' coming next year with electric vehicles

Ford Motor is gearing up to launch new electric cars as soon as next year, CEO Jim Hackett told CNBC on Sunday.

Ford has previously announced its plans to invest $11 billion in electric vehicles by 2022 and produce 40 hybrid and fully electric cars, in a plan to revive its slowing business. However, the company’s chief told CNBC that drivers should be prepared for ‘a big surprise’ from Ford.

“We talked about a huge investment in electric vehicles. We have 16 models that are in design and development. We have a pretty big surprise coming next year,” Hackett told CNBC’s Phil LeBeau on the sidelines of the Detroit Auto Show, which kicks off this week.

During the first nine months in 2018, Ford’s profit dropped a whooping 27 percent from the same period in 2017. Shares of Ford, which tumbled 39 percent in 2018, are hunkered under $10 a share for the first time since 2012.

“Some of the pain in the margins additionally [is] because the vehicles are old. We have on average the oldest fleet in the industry and we are going to have average the newest fleet. 75 percent of the portfolio is being turned over,” the CEO said.

The company is also in the middle of a massive restructuring with an aim to slash costs by $14 billion over the next five years. Ford recently announced plans to cut thousands of jobs in Europe as well as discontinuing some unprofitable lines there.

Yet in the face of a skeptical market Hackett defended Ford’s moves to right its ship. He told CNBC that investors “needed to be a little patient with some of the long-lived problems that haven’t been addressed that I’m going to represent. In less than 19 months, I’ve addressed every one of them.”

Many companies have expressed concerns about American brands potentially falling out of favor in China. For example, tech giant Apple cut its forecast in January, sounding alarms that an economic slowdown will weigh on its business. However, Hackett is not so worried.

“China’s optimism is still high with us,” he told CNBC. “The brand is one of the highest-ranking brands in the country. Even at the highest levels of the government they see it as a family-owned business that middle America loves. The Chinese want to relate to American businesses like that,” Hackett added.


Company: cnbc, Activity: cnbc, Date: 2019-01-13  Authors: yun li
Keywords: news, cnbc, companies, business, big, months, ceo, electric, coming, told, ford, surprise, vehicles, hackett, plans


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The White House reportedly asked the Pentagon for military plans to strike Iran

The White House requested options for a military strike against Iran last September, a report by the Wall Street Journal revealed on Sunday, citing current and former U.S. officials. The request, reportedly made the National Security Council led by national security advisor John Bolton, alarmed Pentagon and State Department officials, The Journal wrote on Sunday. According to the publication, it remains unclear whether President Donald Trump himself knew about the request, whether the Pentagon u


The White House requested options for a military strike against Iran last September, a report by the Wall Street Journal revealed on Sunday, citing current and former U.S. officials. The request, reportedly made the National Security Council led by national security advisor John Bolton, alarmed Pentagon and State Department officials, The Journal wrote on Sunday. According to the publication, it remains unclear whether President Donald Trump himself knew about the request, whether the Pentagon u
The White House reportedly asked the Pentagon for military plans to strike Iran Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-13  Authors: natasha turak, jonathan ernst
Keywords: news, cnbc, companies, options, strike, white, security, plans, national, council, wall, iran, reportedly, house, street, request, military, journal, pentagon, asked


The White House reportedly asked the Pentagon for military plans to strike Iran

The White House requested options for a military strike against Iran last September, a report by the Wall Street Journal revealed on Sunday, citing current and former U.S. officials.

The request, reportedly made the National Security Council led by national security advisor John Bolton, alarmed Pentagon and State Department officials, The Journal wrote on Sunday. The Council made the move after an Iranian-aligned group fired missiles into Baghdad’s diplomatic quarter, which hosts the U.S. embassy in Iraq. No one was harmed.

According to the publication, it remains unclear whether President Donald Trump himself knew about the request, whether the Pentagon ultimately delivered military options to the White House, and if concrete attack plans against the Islamic Republic were actually formulated. But officials who spoke to the publication confirmed that the Defense Department did indeed comply with the National Security Council’s request to develop those options.

Bolton, an avid proponent of the Iraq invasion during the George W. Bush administration, has long taken one of the hardest lines against Iran in Washington and has openly supported the idea of regime change in Tehran.

A spokesperson for the White House did not immediately reply to a CNBC request for comment. Garrett Marquis, a spokesman for the National Security Council told The Journal: “We continue to review the status of our personnel following attempted attacks on our embassy in Baghdad and our Basra consulate, and we will consider a full range of options to preserve their safety and our interests.”

The full report from the Wall Street Journal can be found on its website.


Company: cnbc, Activity: cnbc, Date: 2019-01-13  Authors: natasha turak, jonathan ernst
Keywords: news, cnbc, companies, options, strike, white, security, plans, national, council, wall, iran, reportedly, house, street, request, military, journal, pentagon, asked


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China set to lower GDP growth target in 2019, policy sources say

China plans to set a lower economic growth target of 6 percent to 6.5 percent in 2019 compared with last year’s target of “around” 6.5 percent, policy sources told Reuters, as Beijing gears up to cope with higher U.S. tariffs and weakening domestic demand. Data later this month is expected to show the Chinese economy grew around 6.6 percent in 2018 — the weakest since 1990. Analysts are forecasting a further loss of momentum this year before policy support steps begin to kick in. “Considering em


China plans to set a lower economic growth target of 6 percent to 6.5 percent in 2019 compared with last year’s target of “around” 6.5 percent, policy sources told Reuters, as Beijing gears up to cope with higher U.S. tariffs and weakening domestic demand. Data later this month is expected to show the Chinese economy grew around 6.6 percent in 2018 — the weakest since 1990. Analysts are forecasting a further loss of momentum this year before policy support steps begin to kick in. “Considering em
China set to lower GDP growth target in 2019, policy sources say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: thomas peter-pool, getty images
Keywords: news, cnbc, companies, sources, target, china, united, policy, set, lower, leaders, war, states, growth, 2019, plans, 65, say, gdp


China set to lower GDP growth target in 2019, policy sources say

China plans to set a lower economic growth target of 6 percent to 6.5 percent in 2019 compared with last year’s target of “around” 6.5 percent, policy sources told Reuters, as Beijing gears up to cope with higher U.S. tariffs and weakening domestic demand.

The proposed target, to be unveiled at the annual parliamentary session in March, was endorsed by top leaders at the annual closed-door Central Economic Work Conference in mid-December, according to four sources with knowledge of the meeting’s outcome.

Data later this month is expected to show the Chinese economy grew around 6.6 percent in 2018 — the weakest since 1990. Analysts are forecasting a further loss of momentum this year before policy support steps begin to kick in.

“It’s very difficult for growth to exceed 6.5 percent (this year), and there could be trouble if growth dips below 6 percent,” said one source who requested anonymity due to the sensitivity of the matter.

As the world’s second-largest economy loses steam, China’s top leaders are closely watching employment levels as factories could be forced to shed workers amid a trade war with the United States, despite a more resilient services sector, policy insiders said.

Growth of about 6.2 percent is needed in the next two years to meet the ruling Communist Party’s longstanding goal of doubling gross domestic product and incomes in the decade to 2020, and to turn China into a “modestly prosperous” nation.

“Considering employment, income and stability, we need growth of at least 6 percent this year,” said one of the sources.

Adopting a range as a target would give policymakers room to maneuver amid uncertainties caused by a tit-for-tat tariff war with the United States, as the two sides strive for a possible deal to settle their differences before March.

The government plans to maintain a 3 percent consumer inflation target for 2019 despite a recent softening in price rises, leaving some space for the government to stimulate weaker consumption.

Data this week showed China’s consumer inflation eased to 1.9 percent in December from 2.2 percent in November, below the government’s full-year target.

The State Council Information Office did not immediately respond to a Reuters request for comment.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: thomas peter-pool, getty images
Keywords: news, cnbc, companies, sources, target, china, united, policy, set, lower, leaders, war, states, growth, 2019, plans, 65, say, gdp


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Apple reportedly plans to launch three new iPhones this year — including an XR successor

Apple plans to unveil three new iPhone models later this year, including a successor to the XR, The Wall Street Journal reported Friday. The tech giant’s new phones will include new camera features, the WSJ reported, citing people familiar with the situation. The higher-end model will be fitted with a triple rear camera, while the lower-end models will be fitted with a double rear camera, the report said. One will feature a liquid-crystal display (LCD), the display that Apple’s lower-end iPhone


Apple plans to unveil three new iPhone models later this year, including a successor to the XR, The Wall Street Journal reported Friday. The tech giant’s new phones will include new camera features, the WSJ reported, citing people familiar with the situation. The higher-end model will be fitted with a triple rear camera, while the lower-end models will be fitted with a double rear camera, the report said. One will feature a liquid-crystal display (LCD), the display that Apple’s lower-end iPhone
Apple reportedly plans to launch three new iPhones this year — including an XR successor Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: ryan browne, vcg, visual china group, getty images
Keywords: news, cnbc, companies, reportedly, apple, lcd, wsj, revenue, camera, reported, xr, successor, including, iphones, report, launch, plans, rear, iphone


Apple reportedly plans to launch three new iPhones this year — including an XR successor

Apple plans to unveil three new iPhone models later this year, including a successor to the XR, The Wall Street Journal reported Friday.

The tech giant’s new phones will include new camera features, the WSJ reported, citing people familiar with the situation. The higher-end model will be fitted with a triple rear camera, while the lower-end models will be fitted with a double rear camera, the report said.

One will feature a liquid-crystal display (LCD), the display that Apple’s lower-end iPhone XR model currently comes with. The XR has reportedly struggled to win over Chinese consumers. The firm recently lowered its revenue guidance for the first quarter, alarming investors, and cited lower-than-expected iPhone revenue “primarily in Greater China” as one of the main reasons behind its warning.

According to the WSJ, Apple is considering sticking with phones that contain organic light-emitting diode (OLED) displays from 2020, and dropping LCD displays altogether. OLED screens make images appear brighter and sharper than LCD panels.

Apple was not immediately available for comment when contacted by CNBC. Apple shares were 0.1 percent higher in premarket trade Friday.

You can read the full WSJ report here.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: ryan browne, vcg, visual china group, getty images
Keywords: news, cnbc, companies, reportedly, apple, lcd, wsj, revenue, camera, reported, xr, successor, including, iphones, report, launch, plans, rear, iphone


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SpaceX plans to lay off 10% of its workforce

SpaceX is planning on trimming its workforce, a company spokeswoman told CNBC. The company said it sees “extraordinarily difficult challenges ahead” and therefore needs to “become a leaner company.” Read SpaceX’s full statement below:”To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company. At the time, SpaceX told CNBC its valuation was about $28 billion. In December, The Wall Street J


SpaceX is planning on trimming its workforce, a company spokeswoman told CNBC. The company said it sees “extraordinarily difficult challenges ahead” and therefore needs to “become a leaner company.” Read SpaceX’s full statement below:”To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company. At the time, SpaceX told CNBC its valuation was about $28 billion. In December, The Wall Street J
SpaceX plans to lay off 10% of its workforce Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: christine wang, peter parks, afp, getty images
Keywords: news, cnbc, companies, internet, lay, leaner, reported, spacexs, told, workforce, plans, valuation, spacex, planning, million, company


SpaceX plans to lay off 10% of its workforce

SpaceX is planning on trimming its workforce, a company spokeswoman told CNBC.

The company said it sees “extraordinarily difficult challenges ahead” and therefore needs to “become a leaner company.”

The Los Angeles Times first reported that the Hawthorne, California-based company would be laying off about 10 percent of its staff. According to its website, SpaceX employes more than 6,000 people.

Read SpaceX’s full statement below:

“To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company. Either of these developments, even when attempted separately, have bankrupted other organizations. This means we must part ways with some talented and hardworking members of our team. We are grateful for everything they have accomplished and their commitment to SpaceX’s mission. This action is taken only due to the extraordinarily difficult challenges ahead and would not otherwise be necessary.”

SpaceX was named the No. 1 company on the 2018 CNBC Disruptor 50 list, announced in May. At the time, SpaceX told CNBC its valuation was about $28 billion.

Earlier this month, SpaceX raised $273 million through preferred stock, according to a filing with the Securities and Exchange Commission.

In December, The Wall Street Journal reported that SpaceX was raising $500 million in funding, placing its valuation at $30.5 billion. Founded by Elon Musk, SpaceX was reportedly planning to use the new cash to build its massive satellite internet project, called Starlink.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: christine wang, peter parks, afp, getty images
Keywords: news, cnbc, companies, internet, lay, leaner, reported, spacexs, told, workforce, plans, valuation, spacex, planning, million, company


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Job prospects are soaring in New York City, thanks to Amazon HQ2 and Google’s expansion plans

The job market in the Big Apple appears hotter than ever. According to a survey by Tech:NYC and Accenture, 80 percent of companies in New York City said they planned to hire more tech talent in 2018 than the year before. The trend is spurring demand for tech talent as well as for other support services, such as advertising, fintech, accounting, compliance and more. Headhunters say that although direct impact has yet to be seen, the expansion plans bode well for New York City’s job market. The hi


The job market in the Big Apple appears hotter than ever. According to a survey by Tech:NYC and Accenture, 80 percent of companies in New York City said they planned to hire more tech talent in 2018 than the year before. The trend is spurring demand for tech talent as well as for other support services, such as advertising, fintech, accounting, compliance and more. Headhunters say that although direct impact has yet to be seen, the expansion plans bode well for New York City’s job market. The hi
Job prospects are soaring in New York City, thanks to Amazon HQ2 and Google’s expansion plans Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: ellen sheng, eduardo munoz, robert bumsted, spencer platt, getty images
Keywords: news, cnbc, companies, market, hq2, soaring, thanks, job, city, talent, companies, plans, york, expansion, tech, labor, unemployment, googles, prospects


Job prospects are soaring in New York City, thanks to Amazon HQ2 and Google's expansion plans

The job market in the Big Apple appears hotter than ever. With unemployment at record lows, the battle for talent is raging as tech giants, including Amazon and Google, lay plans to open new or expanded operations in Manhattan and Long Island City.

Projects include the new $5 billion Amazon headquarters in Long Island City, Google’s new $1 billion 1.7-million-sq-ft campus in Hudson Square and a new office complex at Chelsea Market. According to a survey by Tech:NYC and Accenture, 80 percent of companies in New York City said they planned to hire more tech talent in 2018 than the year before.

The trend is spurring demand for tech talent as well as for other support services, such as advertising, fintech, accounting, compliance and more. Headhunters say that although direct impact has yet to be seen, the expansion plans bode well for New York City’s job market.

“Even though New York is one of the most expensive markets in the country, it offers huge advantages for companies,” said Jed Kolko, chief economist at online jobs site Indeed.com.

“It is the largest labor market in the country, and it’s a fairly diversified market,” he said, noting that New York City also offers a fairly broad mix of both employers and workers in many industries and occupations. For many companies, that makes it worthwhile to pay the high real estate and labor costs to be in New York.

The hiring spree will make an already tight job market even tighter. Last month the New York Department of Labor said seasonally adjusted unemployment fell to 3.9 percent in November. That’s the lowest level since the department started keeping records in 1976. Not only that, but New York State’s private-sector job count rose to an all-time high of 9.75 million.


Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: ellen sheng, eduardo munoz, robert bumsted, spencer platt, getty images
Keywords: news, cnbc, companies, market, hq2, soaring, thanks, job, city, talent, companies, plans, york, expansion, tech, labor, unemployment, googles, prospects


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