Business

CEO Elon Musk says working on "Top Secret Tesla Masterplan"

Elon Musk has tweeted that he's working on a "Top Secret Tesla Masterplan, Part 2". CEO Elon Musk on Sunday tweeted his intention to soon publish part two of his "top secret Tesla masterplan" following an embattled several weeks for the silicon valley heavyweight.

Business

Brexit to curtail euro zone growth, impact hinging on political leaders

The analysis by the European Commission's economics directorate-general also concluded that Britain's GDP would be affected by between 1 and 2.5 per cent by 2017. "That's what I think a lot of people expect and hope and call for", he told reporters as he entered talks with the EU's finance ministers. "We must be very adaptive to what happens".

Business

Markets Right Now: Stocks open higher on Wall Street

United Continental gained 7.2 percent, while Delta Air Lines rose 4.2 percent and American Airlines 8.4 percent. Gains in shares of Italian banks helped fuel the rise, with UniCredit last up more than 13 percent. Seagate jumped 16.2 percent to $28 after the hard-disk drive maker estimated quarterly results that beat analysts' expectations. European stocks were off to a strong start, with France's CAC 40 rising 1.3 percent to 4,321.87 and Germany's DAX adding 1.2 percent to 9,955.73.

Business

SETTING START: Stocks open higher on Wall Street

The Dow Jones industrial average rose 80.19 points, or 0.44 per cent, to 18,226.93, the S&P 500 added 7.26 points, or 0.34 per cent, to 2,137.16 and the Nasdaq Composite gained 31.88 points, or 0.64 per cent, to 4,988.64. "We do not expect a recession anytime soon, but that also doesn't mean fast enough growth to create worries about significantly higher interest rates", said Paul Nolte, senior vice president and portfolio manager at Kingsview Asset Management.

Business

Biritish Labour enters leadership contest on Monday

In a non-binding secret ballot last month, 172 of 230 Labour MPs said they had no confidence in Corbyn's leadership. Party grandees and MPs however warned against his election. Candidates for Labour leadership need the backing of 50 MPs to appear on the ballot, which Corbyn is unlikely to receive. It is thought Mr Corbyn would struggle to amass 51 signatures because his support is concentrated in the party's wider membership.

Business

Corbyn Leadership Row May Spark Court Fight

Meanwhile, a YouGov poll for the Election Data website found the Labour leader's union backing dissolving. Just a third of 1,221 trade union members from Unite, the GMB, Unison, Usdaw and the CWU, said he was doing well. Mr Corbyn has since struggled to fill all his shadow cabinet posts after dozens of MPs on his top team said they would no longer work with him. "I want to ensure our country can be healed after the bad shock that Brexit is going to inflict on it.