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Tesla's Model3 on display at the Seoul Motor Show in March 2019. [YONHAP] Tesla, which had surging sales in Korea, is under investigation by the antitrust agency for false advertising. According to industry sources, the Fair Trade Commission (FTC) has been looking into whether the U.S.-based electric vehicle (EV) company has exaggerated its autopilot technology. Tesla has advertised that its autopilot system not only controls the direction of the vehicle, but also controls the speed at which it travels. However, according to auto industry experts, Tesla’s autopilot system is closer to driver-assistance technology than the kind of full autonomous driving that does not require the help of a driver. The review by Korea's antitrust agency comes on the heels of a German court ruling on the same issue last week. A Munich court ruled in favor of the non-profit organization The Center for Protection Against Unfair Competition, which sued Tesla for misleading consumers about its … [Read more...] about FTC looks into Tesla’s claims on autopilot technology

Tesla's Model3. [TESLA KOREA] The Ministry of Land, Infrastructure, and Transport has launched an investigation into suspected defects in Tesla electric vehicles (EV). The ministry said Tuesday it requested the Korea Automotive Technology Institute on July 15 to check for defects in Palo Alto, California-based Tesla's best-selling Model 3. The inspection, the first for the EV manufacturer in Korea, will mainly focus on the car's autopilot functions, including breaks and cruise control. The Model 3 has faced complaints from customers who claim the vehicle has numerous safety issues. According to the ministry, inspections can take between six months to two years to finish. Cars will be recalled if defects are found. Tesla is also under investigation by Korea's Fair Trade Commission (FTC) to have exaggerated its autopilot technology. The EV manufacturer has advertised that its autopilot system not only controls the direction of the vehicle but also controls the speed at which … [Read more...] about Government launches investigation into suspected Tesla defects

Earlier this summer, Tesla announced its intention to split its stock—a surprise to many, since Tesla shares split just two years earlier . But shareholders obviously approved the additional split, as did Tesla’s board of directors, which officially okayed the 3-to-1 split on August 5. That split is now just a week away, but today is an important date for those hoping to benefit from it, too. Here are all the critical dates you need to know about Tesla’s upcoming stock split: advertisement Wednesday, August 17, 2022: Anyone wanting to receive two extra shares for each TSLA share they own needs to be a shareholder of record by this date. If you own TSLA shares on August 17, one week later you will receive two additional shares for each you own. Wednesday, August 24, 2022: One week after the shareholder of record cutoff is when TSLA shares actually split. After the stock market closes on August 24, TSLA shares will split 3-to-1, and by the next morning … [Read more...] about Tesla stock split: Date, day of record, and what happens next

China’s central bank unexpectedly slashed interest rates after data showed its retail sales and manufacturing output grew less than expected, signaling central bankers want to avoid an economic slowdown in China, the world’s second-largest economy . Retail sales rose 2.7% in China in July compared to expectations of 5% growth, while industrial production grew 3.8%, below expectations of 4.6%. Both retail sales and industrial production slowed from the month before. According to a government spokesman, “the momentum of the economic recovery has slowed. More efforts are needed to consolidate the foundation of economic recovery.” The slowdown comes in the wake of China's “zero COVID” approach to containing COVID-19 with local lockdowns and amid a real estate slowdown. Oil prices fell on the slower-than-expected economic data, with light sweet crude down as much as 5%, below $90 per barrel. The retail sales data may signal problems ahead for Tesla and GM. Tesla generated roughly … [Read more...] about The Impact of China’s Economic Slowdown

Make that four weeks in a row of gains for the U.S. stock market, as the rally has become undeniable. The S&P 500 and the Nasdaq both climbed more than 3% last week, with the the Dow up 2.9%. The S&P 500 has now climbed 15% from its lows in mid-June, while the Nasdaq has clawed back 20% since then. That could technically be described as a new bull market for the index. A 20% retracement from a recent low fits the bill—or the bull—but there are a lot of opinions about that. But we can't deny the strength of the rally, especially when we dig into the charts. The average stock in the Nasdaq Composite index is up 34% from its lows. Remember, just a few months ago, we were talking about the average Nasdaq stock being down 50% from its highs. The pendulum has swung back in a big way. Across the market, the breadth thrust has been pretty impressive. And no, that's not a swimming stroke. The breath trust indicator is a technical indicator used to ascertain market momentum … [Read more...] about Going Back to School with Stock Market Fundamentals

This article first appeared in The Edge Malaysia Weekly, on August 1, 2022 - August 07, 2022. Ong has been active in the local corporate scene over the past few years. (Photo by Mohd Izwan Mohd Nazam/The Edge) - A + A CHEMICAL products distributor Hextar Global Bhd, the flagship company of Datuk Eddie Ong Choo Meng, is selling its manufacturing plant and the land on which it sits to KIP Real Estate Investment Trust (KIP REIT), in which Ong has a stake as well. Hextar Global, which bought the land in Klang in October 2005 for RM12.58 million, will lease back the assets after the sale. The company explains that the RM27 million sale is to unlock asset value and reduce its funding requirements. Nonetheless, Hextar Global’s asset sale is not that big a deal compared with that of its controlling shareholder Ong. The 44-year-old businessman is selling two industrial properties, namely warehouses and a factory, to KIP REIT for RM51.7 million cash. His original … [Read more...] about Hextar group boss continues acquisition spree

Traders work under signage for GameStop Corp. (NYSE: GME) on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., Aug. 8, 2022. REUTERS/Andrew Kelly NEW YORK – Speculative options trading is on the rise again among individual investors alongside a rally in so-called meme stocks, reviving a trend that swept Wall Street last year but faded as markets turned volatile in 2022. Trading in single stock options – a popular vehicle for retail investors looking to place leveraged bets in hopes of outsized gains – has shot higher in recent weeks, with 10-day average daily trading volume at a more-than six-month high of nearly 25 million contracts, Trade Alert data showed. The rise in options trading comes amid wild rallies in the shares of companies popular with retail investors, led by Bed, Bath & Beyond, whose stock is up about 360 percent this month. More seasoned meme-stock names such as GameStop and AMC Entertainment have surged as well, … [Read more...] about U.S. retail traders pile back into options as meme-stock mania flares

The last two years have changed how young investors look at real estate. The far-reaching effects of pandemic on their personal and professional lives was the game-changer. They realized the value of owning living spaces that are not only conducive for their ideal lifestyle, but also infallible when it comes to financial gain and stability. Let’s take a look at the reasons why property investments capture this segment’s interest, and why Angeles City, Pampanga is a hotbed one should definitely consider. Property as the wisest investment Now Residences, a mid-rise garden community in Angeles City, Pampanga presents both end-users and investors a sure and wise choice when it comes to investing outside of Metro Manila. Financial gurus agree that r eal estate is emerging as a strong hedge against the roaring inflation, and young investors are at the forefront of it. Industry leader SM Development Corporation (SMDC) realized this with 54% of their increase in revenue … [Read more...] about A new SMDC community in Angeles City, Pampanga built for the new breed of investors

Tesla and SpaceX boss Elon Musk. Elon Musk's SpaceX is offering a hefty amount to security researchers to hack its satellite internet network Starlink in order to identify vulnerabilities. The aerospace company released a document last week, shortly after a security researcher said he had hacked into Starlink using a homemade tool that cost him just using a $25, WIRED magazine reported. The man, Lennert Wouters, then discussed his findings at a security conference in Las Vegas on August 10, according to Forbes . "The documented attacks were performed within the scope of the SpaceX Bug Bounty program and were responsibly disclosed," the man said at the conference. After  Wouters' revelations, SpaceX is encouraging other researchers to become part of its bug bounty programme Close On its bug bounty website, SpaceX said researchers who perform "non-disruptive" tests on Starlink and alert it about possible vulnerabilities can get rewards ranging … [Read more...] about Hack Starlink, report bugs and Elon Musk’s SpaceX will pay you…

Hadi Matar, 24. stabbed author Salman Rushdie at a lecture in New York on August 12. The New Jersey man accused of stabbing Salman Rushdie told the New York Post in an interview published Wednesday that he was "surprised" the author had survived the attack. "When I heard he survived, I was surprised, I guess," Hadi Matar , 24, told the tabloid, which said they held a video interview with the jailed suspect. The suspected assailant, who has pleaded not guilty to attempted murder charges, did not say whether he was inspired by the 1989 edict, or fatwa, issued under Iran's former supreme leader Ayatollah Ruhollah Khomeini, that ordered Muslims to kill the writer for what he deemed the blasphemous nature of the book " The Satanic Verses ." "I respect the ayatollah. I think he's a great person. That's as far as I will say about that," said Matar, who according to the Post was advised by his lawyer not to discuss the issue. Matar told the paper he had "read a couple … [Read more...] about Surprised Salman Rushdie survived, says his 24-year-old attacker Hadi Matar