13 May

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U.S. safety agency opens probe of Tesla fatal crash in California By Reuters

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By David Shepardson WASHINGTON (Reuters) -The National Highway Traffic Safety Agency (NHTSA) said on Wednesday it is opening a safety probe into a fatal May 5 Tesla crash in California amid growing concerns about the automaker's driver assistance systems. A Tesla crashed into an overturned truck on a highway near Fontana, California, killing the Tesla's driver and injuring the truck driver and a motorist who had stopped to help him, the California Highway Patrol said. The highway patrol report did not say whether the Tesla was operating on Autopilot, its semi-autonomous driving system, when the crash...

13 May

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Bumble Swings to Profit in Q1 as Reopening Drives Dating Activity By Investing.com

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By Yasin Ebrahim Bumble reported first-quarter results that topped analysts estimates as the dating app benefited from the economic reopening. Bumble slipped 0.8% in after-hours trading. Bumble reported Q1 earnings of $1.69 a share, compared with a 2 cents loss a year earlier. Revenue more than doubled to $170.7 million from $79.1 million. Wall Street was looking for a loss of $0.03 a share on revenue of $164.6 million. Total Paying Users increased 30% to 2.8 million, with average revenue per paying user, or ARPPU, rising to $19.99 from $17.73. ...

12 May

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S&P 500 Slumps as Tech Bulls Scatter Amid Inflation Tsunami Worries By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 closed lower Wednesday as the tech selloff continued on concerns red-hot inflation is here to stay after jumping the most since 2008, driven by rising auto prices and airfares. The Dow Jones Industrial Average fell 1.99%, or 682 points, the S&P 500 slipped 2.1%, and Nasdaq Composite slumped 2.7% The Labor Department said Wednesday its consumer price index rose 0.8% in April, and 4.2% year-on-year, the fastest pace since 2008. Excluding food and energy, core CPI increased 0.9% in April. "Nearly half of that jump [in the core] was...

12 May

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Vaccine waiver talks can make drug firms the heroes, U.S. trade chief says By Reuters

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By David Lawder WASHINGTON (Reuters) - U.S. Trade Representative Katherine Tai said on Wednesday she is pushing for a waiver of COVID-19 vaccine intellectual property rights because the United States and drug makers have "an obligation to help save the world right now." Tai, speaking at a U.S. Senate Finance Committee hearing, said she views the World Trade Organization talks as a way to remove the intellectual property issue as an obstacle to vaccine production. She backed the WTO negotiations last week. She praised the work of U.S. companies in quickly developing and producing safe and...

12 May

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Vaccine IP Waivers: Stealing from the Rich to Give to the Poor? By Investing.com

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By Geoffrey Smith Investing.com -- U.S. President Joe Biden’s belated conversion to the idea of waiving intellectual property rights on Covid-19 vaccines is more a question of style than substance, and the world should probably be grateful that it isn’t more. His trade advisor Katharine Tai indicated last week that the U.S. will support a ‘temporary’ waiver of intellectual property rights on Covid-19 vaccines in an attempt to hasten the global campaign to protect people against the disease. It’s a nice gesture. It makes the U.S. look more like its self-image of a noble and altruistic...

12 May

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Colombians take to the streets to kick off third week of anti-government protests By Reuters

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By Oliver Griffin and Luis Jaime Acosta BOGOTA/CALI (Reuters) - Union members, students, pensioners and workers took to the streets of Colombia to march in anti-government protests on Wednesday, as demonstrations entered their third week amid so-far fruitless talks. The demonstrations, which have sometimes turned violent, were initially fueled in late April by outrage at a now-canceled tax plan. But protesters' demands have expanded to include an end to police violence, economic support as the COVID-19 pandemic batters incomes, and the withdrawal of a health reform. President Ivan Duque has offered dialogue, but many protesters...

12 May

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States Recover $2 Billion as Secret Service Probes Covid Fraud By Bloomberg

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(Bloomberg) -- States recovered about $2 billion of pandemic-related funds that were previously fraudulently acquired by criminals over the past year, according to the Secret Service. The big jump in unemployment insurance benefits made the relief program “a target for those seeking to defraud government programs,” said Acting Inspector General of the Labor Department Larry Turner. Small businesses at the start of the pandemic quickly became targets for fraud because of the lax application requirements and security checks. House Democrats identified nearly $84 billion in potential fraud, and said in March that the U.S had...

12 May

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Musk tweets Tesla self-driving rollout could take a couple of months; stock falls By Reuters

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(Removes quotation marks in first paragraph) By Hyunjoo Jin and Eva Mathews (Reuters) - Tesla Inc's top boss Elon Musk said Tesla is tweaking its self-driving software to eliminate a phantom braking problem and may release a significantly improved version within the next two to three weeks. Tesla shares fell 2.7% to $600.42 in morning trade, headed for a third straight decline. U.S. federal and state regulators have been scrutinizing Tesla's semi-automated driving system following accidents in Texas and other areas. "I think we’re maybe a month or two away from wide beta. But these...

12 May

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U.S. airlines cancel flights to Tel Aviv amid escalating conflict By Reuters

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(Reuters) - United Airlines, Delta Air Lines (NYSE:DAL), and American Airlines (NASDAQ:AAL) have canceled flights between the United States and Tel Aviv, according to data by flight tracker FlightAware, amid an escalating conflict in Israel. Israel said it killed 16 members of the Hamas armed wing in Gaza in a barrage on Wednesday and Palestinian militants rained rockets into Israel in one of their most intense hostilities in years. United Airlines said it had canceled flights from Chicago and Newark to Tel Aviv on May 11 and flights from San Francisco and Newark on May...

12 May

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Greek banks are being paid back, not out of the woods yet, says ECB’s Enria By Reuters

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FRANKFURT (Reuters) - Greek banks have had to restructure fewer loans than expected since the end of government moratoriums but it's too early to call the end of the coronavirus crisis, the European Central Bank's top supervisor Andrea Enria said on Wednesday. "So far, the payment behaviour following the expiry of the moratoria has been positive, so payments have resumed regularly and there has been a lower-than-expected number of restructurings necessary," Enria said at an online Greek economic forum. "However, it's too early to declare victory, so we're not yet at the end...

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U.S. safety agency opens probe of Tesla fatal crash in California By Reuters

Bumble Swings to Profit in Q1 as Reopening Drives Dating Activity By Investing.com

S&P 500 Slumps as Tech Bulls Scatter Amid Inflation Tsunami Worries By Investing.com

Vaccine waiver talks can make drug firms the heroes, U.S. trade chief says By Reuters

Vaccine IP Waivers: Stealing from the Rich to Give to the Poor? By Investing.com

Colombians take to the streets to kick off third week of anti-government protests By Reuters

States Recover $2 Billion as Secret Service Probes Covid Fraud By Bloomberg

Musk tweets Tesla self-driving rollout could take a couple of months; stock falls By Reuters

U.S. airlines cancel flights to Tel Aviv amid escalating conflict By Reuters

Greek banks are being paid back, not out of the woods yet, says ECB’s Enria By Reuters

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