Corporate news

FILE- In this March 14, 2019, file photo Tesla CEO Elon Musk speaks before unveiling the Model Y at Tesla's design studio in Hawthorne, Calif. Shares of electric vehicle maker Tesla Inc. fell at the opening bell Thursday, May 23 but recovered into positive territory after an analyst predicted falling demand but Musk told employees that orders are up. The gyrations within an hour of when the markets opened were indicators of a volatile day for the shares, which have shed about 40 percent of their value this year and are trading at the lowest levels since late 2016. (AP Photo/Jae C. Hong, File)
May 23, 2019 - 4:32 pm
Shares of Tesla, suffering one of the worst stretches in company history, rebounded Thursday after CEO Elon Musk told employees that orders are up. The company's stock closed up 1.4% to $195.49 on a volatile day that started out with a loss. Tesla stock has shed about 60% of its value in three...
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May 23, 2019 - 4:31 pm
LAS VEGAS (AP) — The former head of a Tokyo and Las Vegas investment firm was sentenced Thursday to 50 years in prison for bilking thousands of Japanese victims in what prosecutors called a $1.5 billion international Ponzi scheme that ranks among the largest-ever fraud cases in the U.S. Defendant...
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May 23, 2019 - 9:42 am
LAS VEGAS (AP) — A company backed by tech billionaire Elon Musk has been granted a nearly $49 million contract to build a transit system using self-driving vehicles underneath the Las Vegas Convention Center. The board of directors of the Las Vegas Convention and Visitors Authority approved the...
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FILE - In this Saturday, April 27, 2019, file photo, Chinese President Xi Jinping waves as he leaves after a news conference on the outskirts of Beijing. Fuming over Washington’s latest tariff hike in an escalating trade battle, Beijing has an array of options for retaliating, from limiting exports of rare earths to disrupting operations of Apple and other American companies in China. But they carry economic and political costs. And there is no guarantee they will work. (AP Photo/Mark Schiefelbein, File)
May 23, 2019 - 6:55 am
BEIJING (AP) — China held the door open to resuming talks in the tariff war with Washington on Thursday, but lashed out at limits on access to key technologies that it said might hurt global supply chains. Foreign Ministry spokesman Lu Kang said China hopes to restart the talks that broke down...
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CEO of Deutsche Bank Christian Sewing speaks during the annual shareholders meeting in Frankfurt, Germany, Thursday, May 23, 2019. (AP Photo/Michael Probst)
May 23, 2019 - 5:40 am
FRANKFURT, Germany (AP) — The CEO of Deutsche Bank says he is ready to make "tough cuts" to improve the struggling bank's profitability and raise a "disappointing" share price as negative headlines continue to pursue Germany's biggest bank. Christian Sewing made the remarks Thursday in front of...
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May 23, 2019 - 5:02 am
BERLIN (AP) — German prosecutors have fined auto components and technology company Robert Bosch GmbH 90 million euros ($100 million) over its role in the diesel emissions scandal that erupted at Volkswagen in 2015. Prosecutors in Stuttgart said Wednesday that Bosch was fined for a negligent...
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FILE- In this Jan. 9, 2019, file photo a sign advertises 5G at the Qualcomm booth at CES International in Las Vegas. Qualcomm and Apple drove declines in technology stocks on Wednesday, May 22. Qualcomm plunged following a federal judge's ruling against the chipmaker in an antitrust case. (AP Photo/John Locher, File)
May 22, 2019 - 10:19 pm
NEW YORK (AP) — A federal judge has ruled that Qualcomm unlawfully squeezed out cellphone chip rivals and charged excessive royalties to manufacturers such as Apple in a decision that undercuts a key part of its business. The decision vindicates the U.S. Federal Trade Commission two years after it...
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FILE - In this March 6, 2019 photo, Michael Cohen, President Donald Trump's former personal lawyer departs the Capitol in Washington. Prosecutors aren’t quite finished investigating campaign finance violations by Cohen. A federal judge in New York agreed Tuesday, May 21 to keep search warrant materials related to the investigation under seal until at least mid-July after prosecutors submitted a letter explaining that the probe is still ongoing. Cohen is serving a three-year prison sentence after admitting paying off two women who claimed they had affairs with Trump. (AP Photo/J. Scott Applewhite, File)
May 22, 2019 - 7:35 pm
WASHINGTON (AP) — It was Michael Cohen's numerous contacts with a Russia-linked company and a sudden flow of foreign money into a bank account he controlled that led federal investigators to look into whether the money might be part of a plan to lift U.S. sanctions on Russia, according to court...
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FILE - In this Dec. 16, 2017, file photo provided by the Santa Barbara County Fire Department, flames burn near power lines in Sycamore Canyon near West Mountain Drive in Montecito, Calif. Pacific Gas & Electric Corp. has received approval to establish a $105 million fund to help survivors of recent California wildfires started by the utility's power lines. A federal judge overseeing PG&E's bankruptcy case approved the utility's "wildfire assistance program" on Wednesday, May 22, 2019. (Mike Eliason/Santa Barbara County Fire Department via AP, File)
May 22, 2019 - 6:53 pm
SAN FRANCISCO (AP) — Pacific Gas & Electric Corp. received approval Wednesday to establish a $105 million fund to help survivors of recent California wildfires started by the utility's equipment. A federal judge overseeing PG&E's bankruptcy case approved the utility's wildfire assistance...
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May 22, 2019 - 6:34 pm
READING, Pa. (AP) — A federal bankruptcy judge on Wednesday approved the sale of the 150-year-old Reading Eagle to a publisher known for its aggressive cost-cutting. MediaNews Group, better known as Digital First Media, offered $5 million for the assets of the Reading Eagle Co., which filed for...
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