Business

Tesla says 'production hell' resolved after Q2 trouble

In last year's second quarter, the automaker reported losses of 48 cents per share on $1.2 billion in revenue . Adjusted for certain costs, the electric vehicle maker said it earned $1.6 billion. "As we move ever closer to the launch of Model 3, we remain as excited as ever for the future of Tesla ". While much of the production will go toward batteries for vehicles, Tesla has also said it expects rising demand for home and commercial storage battery systems.

Business

Trump endorses Ryan and McCain

Ryan, who has been endorsed by Trump's vice presidential running mate, Mike Pence, is viewed by establishment Republicans as a possible presidential candidate in the future. The Ryan campaign said Friday it had no knowledge of a pending endorsement. Ryan appreciates the gesture and is going to continue to focus on earning the endorsement of the voters in Southern Wisconsin, an aide said after Trump's endorsement.

Business

Jack Laugher and Chris Mears win GOLD at Rio 2016 Olympics

The City of Leeds pair totalled 454.32 points from their six dives, finishing with a flourish and their best score of 91.20 in the final round. The pair held off their rivals from US and China - the favourites - to take the gold. Laugher, 21, and Mears, 23, broke down in tears inside the Maria Lenk Aquatic Centre when their victory was confirmed by China's faltering final dive.

Business

Shake Shack restaurant sales disappoint, stock drops

That marks a slowdown from the 9.9 percent gain the chain posted in the prior quarter and trails the 5.4 percent increase analysts had expected, according to Consensus Metrix. Analyst consensus had an EPS estimate of $0.13 and revenues of $63 million. "Minimum wage going up nationwide, state-by-state, eventually it's going to catch up to us".

Business

Delta says 90 more flight cancellations; others predict more

The airline posted a video apology by CEO Ed Bastian. In a statement Wednesday , the airlines' chief operating officer, Gil West, attributed the problem to the malfunction of "a power control module" at the Atlanta headquarters. Normally, a well-designed system can manage these wide-ranging systems far better than a single human brain or even a team and we have come to depend on mega-computers to support everything from commerce to life-saving services such as 911 - which itself recently ...

Business

Oil prices down as OPEC meeting awaited

President Nicolas Maduro last week said his government was working to convene a meeting between Opec and non-Opec countries to stabilise prices. It showed a significant increase in its weekly USA crude inventory report of 2.09 million barrels.