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One of the most heavily exposed U.S. firms operating in China, Tesla Inc. saw its share price fall sharply by as much as 6.3% to $224.50 Monday. It was the stock’s lowest intraday level since January 2017. Tesla’s stock closed the day at $227.01, down 5.2 percent. It suffered further losses in after-hours trading and sank to $226.25, down a further 0.33 percent. It led the 27-company Bloomberg World Auto Manufacturers Index down as much as 1.6% to the lowest intraday since Jan. 7. Analysts noted that 2019 already has the makings of becoming the worst year yet in Tesla’s brief history. The only year in which the stock recorded an annual drop was 2016, when shares fell 11 percent. Tesla took a beating after China on Monday levied 25 percent tariffs on $60 billion worth of American imports starting June 1. President Donald Trump is expected to again retaliate for this escalation by announcing plans to impose another 25 percent tariff on all remaining imports from China amount...

Facebook wasn’t content offering a brief statement rejecting co-founder Chris Hughes’ call to break up the social network. Global Affairs and Communications VP Nick Clegg has published an opinion piece in the New York Times criticizing Hughes’ argument and reiterating the company’s desire for more regulation instead. When Hughes said that politicians ignored their responsibility to ensure competition, Clegg argued, he supposedly “misunderstood” both Facebook and the goals of competition law. Clegg contended that Facebook was really a large firm made of “many smaller pieces,” each competing against multiple rivals, and wasn’t dominant in some markets. It had ‘just’ 20 percent of the US online ad space, for instance. The ex-politician also maintained that antitrust law was meant to protect customers by ensuring low prices and high quality, not to “punish” a company over disagreements or its size. “Big in itself isn’t bad,” he said. The exec instead suggested that there should b...

Don’t call back phone numbers that ring once and hang up, the Federal Communications Commission (FCC) has warned. People throughout the U.S. have been receiving “One Ring” or “Wangiri” robocalls in bursts, according to officials. The calls are targeting specific area codes “often calling multiple times in the middle of the night.” “These calls are likely trying to prompt consumers to call the number back, often resulting in per minute toll charges similar to a 900 number,” the agency said in a news release on Friday. “Consumers should not call these numbers back.” Typically, officials have said this is how the scam unfolds: The robocaller will dial a number before hanging up after one to two rings. They might do this repeatedly, “hoping the consumer calls back and runs up a toll that is largely paid to the scammer.” Read Full News : https://worldfoxnews.com/2019/05/07/fcc-warns-one-ring-robocall-scam-not-call-numbers-back/ Read More Breaking news :   Health...

Bitfinex and QuadrigaCX were the two biggest Exchange related issues that came to light his year. Post the obituary of QuadrigaCX CEO, Gerald Cotten, about 190$ in cryptocurrencies have been declared ‘lost forever’ as it was stored in the cold wallets of Cotten. With Bitfinex, it has been accused of mismanaging and then covering up nearly $850 million using the stablecoin, USDT. Together the value of the funds and cryptocurrencies amount to $1.04 billion. Moreover, Bitfinex has maintained a ‘not guilty’ stand and stated that the funds are not lost but are seized and safeguarded. Who Seized Their Funds and Why? While Bitfinex has not yet mentioned who or why the funds were seized, it remains to be the most significant question mark on their statement released on 26th April 2019. The Attorney General of New York City accused the Exchange of having lost the funds. However, the firm replied that the funds are not lost but “seized and safeguarded.” Read Full News : https:/...

Bank of America plans to raise its starting pay to $20 an hour over a two-year period, the bank said Tuesday, starting with a hike next month. The company, with more than 200,000 workers, said it is raising its minimum hourly wage to $17 on May 1 and will continue to increase pay until it hits $20 an hour in 2021. Bank of America raised its hourly minimum wage to $15 in 2017. “If you get a job at Bank of America, you’ll make $41,000 per year,” Chairman and CEO Brian Moynihan said during a television interview on MSNBC. The timing of Bank of America’s announcement is no coincidence. Moynihan and the CEOs of JPMorgan Chase, Citigroup, Goldman Sachs and three other banks will appear in front of a House finance committee Wednesday in the most significant hearing on the banking industry since Democrats took control of the House earlier this year. Read Full News :   https://worldfoxnews.com/2019/04/10/bank-america-raising-hourly-minimum-wage-20/ Read More Breaking ne...