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Tag: News

  • Tesla Reports $702 Million Loss In The Last Quarter

    Tesla Reports $702 Million Loss In The Last Quarter

    Tesla said on Wednesday it would return to profit in the third quarter of 2019 after racking up two consecutive losses in the first half of the year, as it struggled to deliver cars to customers and launched a cheaper version of its Model 3 sedan. The company, which Wall Street suspects may soon have to raise more cash, said it ended the quarter with just $2.2 billion in cash, after paying off a $920 million convertible bond obligation in March.

    Tesla affirmed its outlook of delivering 360,000 to 400,000 vehicles in 2019 and said it may produce as many as 500,000 vehicles in the year if its Gigafactory in Shanghai reaches volume production in the fourth quarter. Tesla reported net loss attributable to common shareholders of $702.1 million, or $4.10 per share, in the first quarter ended March 31, compared with $709.6 million, or $4.19 per share, a year earlier.

    “As the impact of higher deliveries and cost reduction take full effect, we expect to return to profitability in Q3 and significantly reduce our loss in Q2,” Chief Executive Officer Elon Musk said in a letter to investors.

    The Silicon Valley company has weathered a challenging few months, marked by a sharp drop in the number of vehicles delivered to global customers during the quarter and a public spat between Musk and financial regulators.

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  • BMW To Buy Cobalt Directly from Australia

    BMW To Buy Cobalt Directly from Australia

    German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labor, an executive said on Tuesday.The announcement came as the London Metal Exchange (LME) launched an initiative under which it could ban or delist brands that are not responsibly sourced by 2022 to help root out metal tainted by child labor or corruption.

    Andreas Wendt, BMW board member responsible for procurement, told a briefing in Paris that the new supply of cobalt would be used in the carmaker’s next generation of EVs in 2020.

    The world’s largest known reserves of cobalt are found in the Democratic Republic of Congo, where the raw ingredient is often mined by small, artisanal operations and supply chains are not strictly monitored.

    BMW said last year it was exploring ways to improve working conditions for mining cobalt in Congo through a pilot project.

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  • Facebook could combine two important parts

    Facebook could combine two important parts

    Facebook is split into so many products these days that it’s hard to keep track to everything the social app has to offer if you’re not a hardcore user. News Feed, Stories, Messenger are just some of the features that Facebook has made available to users throughout the years.

    The reason Facebook split its app into so many pieces is quite simple: monetization. Well, it appears that the social giant has found a way to make even more money by combining, rather than dividing, two of these features: News Feed and Stories.

    The changes spotted by software engineer Jane Manchun Wong indicates that Facebook is testing a new format that will combine News Feed and Stories into a one swipeable, hybrid carousel.

    It will allow standard feed posts and ads to be placed inside Stories in the same carousel so that users would be tempted to swipe through them more often than not, which translates in more views and better monetization of content.

    The GIF posted by Jane shows how a user seamlessly switches between a News Feed story and a Stories video, inside the hybrid carousel. The feature has been discovered in the Android version of Facebook, but if the company does indeed plan to make it available, it will be present on all supported platforms.

  • Evoke Motorcycles Unveils New Electric Power Cruiser

    Evoke Motorcycles Unveils New Electric Power Cruiser

    Evoke Motorcycles, a Beijing-based electric motorcycle manufacturer, has unveiled a new electric power cruiser, called the Evoke 6061. The name is derived from the “Twin Plate Frame” which uses precision laser cutting process from solid T6-6061 aluminium billet pieces. The rear swingarm uses the same twin plate design and sports dual coil-over rear shocks. The Evoke 6061 employs a 120 kW (160 bhp) motor with a chain final drive, and provides over 272 Nm of torque. While the company hasn’t revealed the top speed of the 6061, it says that the new motor and batteries offer a higher top speed than the previous 130 kmph with Evoke’s Urban Series electric motorcycle.

    What is also unique is that Evoke will be using its latest Gen 2 battery modules which are capable of attaining a 0-80 per cent charge in just 15 minutes. The Evoke 6061 will be packing 6 of these batteries for a combined 15.4 kWh of energy capacity. But fast charging and the six battery packs will also mean the need for a good heat management system.

    So far, there’s no word on actual range of the batteries, but most estimates put city range in the region of 300 km on a single charge. Evoke Motorcycles intends to have the 6061 on the road by June 2019, so it’s not very far from where we will can see how the bike eventually performs, although there’s no word yet on if the 6061 will be introduced in India. What is confirmed though is that Evoke Motorcycles is planning to make its debut in India. Evoke also has two models, the Urban S and Urban Classic in its portfolio, but for the Indian market, an all-new entry-level electric motorcycle is expected to be launched.

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  • 2019 Porsche 911 India Launched

    2019 Porsche 911 India Launched

    The new-generation 2019 Porsche 911 went on sale in India today and we have all the highlights from the from the launch here. The eighth-generation Porsche 911 coming to India was internally codenamed 992 and retains the iconic silhouette that is distinctive to the Porsche 911 family. Furthermore, the car also comes with a heavily revised, more powerful range of six-cylinder turbo petrol engines. In India the new Porsche 911 comes in two variants as of now – Carrera S and Carrera S Cabriolet, priced at Rs. 1.82 crore and 1.99 crore respectively, very close to what we has expected.

    The eighth-generation Porsche 911 gets an extensively re-engineered platform that uses generous amounts of aluminium in its construction in its rear section, for improved weight distribution. Under the hood, the Porsche 911 Carrera S is powered by the extensively 3.0-litre flat-six, turbo petrol engine that makes an additional 30 horses. The total power output now stands at 444 bhp.

    The 0-100 kmph sprint time has been dropped under 4 seconds, with the new Porsche 911 Carrera S reaching 100 kmph from standstill in just 3.7 seconds. The 911 Carrera 4S does the same run in just 3.6 seconds and it also comes with all-wheel drive. The optional Sport Chrono Package further reduces the sprint by 0.2 seconds. The top speed on the Carrera S is rated at 308 kmph, while that on the heavier Carrera 4S is 306 kmph.

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  • Fiat Chrysler Auto Expands India Footprint

    Fiat Chrysler Auto Expands India Footprint

    Fiat Chrysler Auto is in the process of expanding its India business and it recently opened its 82nd point of sale in India. At present, FCA has its presence in 70 cities and town in India which include all-brand showrooms that sell Jeep, Fiat and Abarth vehicles along with Jeep Connect showrooms, which are premium retail outlets that cater to potential customers in satellite cities and towns. The company recently inaugurated two all-brand showrooms in Bengaluru along with a new all-brand showroom in Panjim, Goa along with two new Jeep Connect showrooms in Ajmer, Rajasthan and Patiala, Punjab. Along with sales points, Jeep is also increasing its after sales touch points in India. At present, the company has 84 Mopar (mobility and parts) workshops.

    Kevin Flynn, President and Managing Director, FCA India said, “Our vision was to have a growing retail and after-sales network which could strategically complement our growing volumes in the market. With 82 retail outlets in 70 towns and cities we are covering a significant amount of landmass and customer base. We have grown over 50 per cent in our retail network since the Jeep Compass launch in August 2017. Our effort has been to maintain consistency in our network expansion and ensure excellence in customer experience along with improved service coverage.”

    The company’s last launch was the Jeep Compass Sport Plus Variant, which is priced at ₹ 15.99 lakh and is positioned above the base Sport variant, getting more features. Jeep has two new products coming up in India which are the Trailhawk variant of the Jeep Compass and the new-generation Wrangler Unlimited.

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  • Ford Might End Its India Business

    Ford Might End Its India Business

    News has emerged that Ford India could end its India business as it looks to sign a new deal with Mahindra. According to a Reuters report, Ford could enter into a new joint venture in India in which it will hold 49 per cent stake, while Mahindra will own 51 per cent. The American carmaker could transfer most of its India business to the joint venture including its assets and employees.

    carandbike reached out to Ford India for a comment and the company responded by saying, “We do not comment on speculation. Ford remains committed to India. On the strategic alliance with Mahindra, teams from both companies continue to work together to develop avenues of strategic cooperation that help us achieve commercial, manufacturing and business efficiencies for the future.” Mahindra hasn’t confirmed the news either and has refrained from commenting on speculations.

    Ford and Mahindra entered into a strategic alliance in 2017 under which they will share platforms and build new models together. Mahindra Electric, a completely owned subsidiary of the Mahindra & Mahindra which expertise in electric vehicles will lead the alliance by providing the technology to develop new electric vehicles. Mahindra Electric will supply the electric powertrains, battery packs and software technology while Ford will share platforms with Mahindra.

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  • Microsoft Launcher major update brings widget redesign

    Microsoft Launcher major update brings widget redesign

    Microsoft is making major changes to its Android launcher, many of which have been tested for about a month in the beta channel. Most of the new features and improvements are cosmetic, but there are some important under the hood enhancements included as well.

    Microsoft Launcher version 5.3 comes with a completely redesigned Time/Weather widget, which allows users to have multiple widgets for multiple locations. The detail page has been redesigned as well.

    The update brings many refinements to the app, but the most important are those made to the Home Screen, Dock and Search widget. If you’re a long-time user, you’ll most likely notice them once you start using the new version.

    Furthermore, the News tab now supports “Technology” as a news interest, while the Tasks card now features “My Day” and “Flagged Emails” features from Microsoft To Do. With the latest version of Microsoft Launcher, work profile users will be able to access their work apps fast and easy.

    Although it’s less important, you’ll probably want to know that the beta community link in Settings has been changed to Microsoft Tech Community. Microsoft Launcher 5.3 is already available for download via Google Play Store, so make sure to install the update to benefit from the latest improvements.

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  • Ford Unveils Their Puma Crossover

    Ford Unveils Their Puma Crossover

    Ford has revealed the first image of the Puma – an SUV-inspired compact crossover and the company says that it comes with hybrid technology. The Puma will go on sale in the global markets by the end of 2019 and will be manufactured at the company’s Craiova Assembly Plant, Romania, following nearly 1.5 billion Euros investment since 2008.

    The first image of the Ford Puma reveals its styling cues and we can see the distinctive wing-top mounted headlamps and the curves on the side of the car which brings out the athletic side of the car and also showcases the aerodynamic ability too. The company has not said much about the ride height but does mention that the luggage capacity is 456 litres.

    The company says that discussions with customers have led to it providing for flexible luggage space. The Puma’s innovative rear stowage can swallow small furniture and the company says that the versatile storage compartment is capable of comfortably accommodating two golf bags in an upright position.

    Under the hood is Ford’s 1-litre, 3 cylinder EcoBoost Hybrid technology which delivers 153 bhp and a belt-driven integrated starter/generator (BISG) enables recovery and storage of energy usually lost during braking and coasting to charge a 48 volt lithium-ion air-cooled battery pack.

    The BISG also integrates with the engine and uses the stored energy to provide torque substitution – which reduces the amount of work required from the petrol engine to maximise fuel savings, and torque supplementation – which increases the total torque available from the powertrain for optimised performance.

    The Puma joins Ford’s expanding line-up of SUV and SUV-inspired crossover models in Europe, including the Fiesta Active, Focus Active, EcoSport, Kuga, Edge, and the all-new Explorer Plug-In Hybrid among others. The SUVs now account for more than one in five Ford vehicles sold in Europe, and sales rose more than 19 per cent in 2018.

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  • Toyota To Give Royalty-Free Access To Hybrid Vehicle Patents

    Toyota To Give Royalty-Free Access To Hybrid Vehicle Patents

    Toyota Motor plans to offer royalty-free access to its hybrid-vehicle technology patents as early as this year. Toyota, which holds roughly 20,000 active patents in the field, is expected to make accessible most of the latest ones covering motors, power converters and batteries, according to the report.

    The change of heart was driven by a fear of hybrids losing relevance as the broader industry moves toward pure electric vehicles.

  • OCBC Forms Committee to Ensure Responsible Banking

    OCBC Forms Committee to Ensure Responsible Banking

    The bank’s new ethics and conduct board committee wants to ensure that the group’s core values of trust and integrity continue to anchor the way it conducts its business.

    OCBC Bank has formed an ethics and conduct board committee, which is chaired by OCBC chairman Ooi Sang Kuang and includes directors Lee Tih Shih and Christina Ong, according to a news release on Thursday.

    While the industry is seeing ethics and compliance as an area of greater concern, the committee, which provides oversight of the group’s policies, guidelines, and programmes, is a first among Singapore banks.

    Laying Out Standards

    It held its first meeting on Wednesday, laying out expectations and standards for the group’s 29,000 employees as it aims to «sustain and grow a strong culture of responsible banking and fair dealing» and ensure that responsible banking is rigorously enforced across the whole OCBC group, the bank said.

    In the last decade, there have been several high-profile examples of questionable conduct by financial institutions. These examples span the globe and the misconduct ranges from extreme over-leveraging to violating international sanctions, tax fraud, and money laundering. The misconduct stems mostly from an imbalance between the pursuit of financial goals and responsible banking, Ooi said.

    Transforming Rapidly

    The banking industry is transforming rapidly due to technological advancements, and customers’ expectations have also changed. However, what has not changed is that our customers still expect us to be utterly worthy of their trust. That is why amid so much change in the banking industry, our underlying values of integrity and honesty must never change, Ooi added.

    The ethics committee also oversees a new culture and conduct committee, chaired by group chief executive Samuel Tsien. The committee will implement initiatives to enhance existing policies and programmes on ethics and conduct, as well as roll out new ones to strengthen these values among all the group’s employees.

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  • With Apple News+ available, Texture will close on May 28th

    With Apple News+ available, Texture will close on May 28th

    Now that Apple has launched its Apple News+ magazine subscription service, AppleInsider says that the company plans on shutting down the Texture app on May 28th. The app, known as “the Netflix of magazine publishing,” was acquired by Apple last year and immediately rumors started about Apple using the service to launch a premium paid tier of Apple News. Of course, the rumors were true, and earlier this week Apple announced Apple News+. The latter offers over 300 magazines, The Wall Street Journal and the L.A. Times. After a one-month free trial, Apple News+ automatically renews at a price of $9.99 each month.
    Meanwhile, Apple has posted this news on the Texture website, saying “Goodbye Texture. Hello, Apple News+.” A link is included that allows iOS users to sign up for a free one month trial. Right now, in fact, iOS users with a Texture subscription can simply transition over to Apple News+. Android users with a Texture subscription aren’t as lucky since there is no Apple News+ app available for that platform. Android users might want to consider Magzter, available in the Google Play Store. The app is offering one year of unlimited access to over 5,000 magazines for $49.99, a $50 savings off the regular price.
    Apple is aiming to do $50 billion in services revenue by 2020, doubling the $25 billion that the unit grossed in 2016. With over 100 million active iPhone units, this is how Apple tries to combat sluggish iPhone sales in key markets. Consisting of Apple Music, Apple Pay, AppleCare+, the App Store, iTunes and more, the race to hit $50 billion will be helped by the trio of new subscription services that Apple announced last Monday: A
  • TV+, News+, Oprah+, Arcade, Apple is on a War trip

    TV+, News+, Oprah+, Arcade, Apple is on a War trip

    After issuing a plethora of new hardware on the hush-hush lass week with simple press releases, starting from new iPads and finishing with AirPods 2, Apple reserved the stage today entirely for its new adventures in content and media. Multimedia.

    It took on cable and Netflix with the upcoming Apple TV channels and TV+ subscription streamer. Game streaming and distribution platforms like Steam or Google’s upcoming Stadia will face the formidable Arcade undertaking. News aggregators and standalone publishers now have another potentially huge platform to consider – News+.

    In one fell swoop, Apple wiggled its way right smack in the center of the news and entertainment industry, moving swiftly from a hardware to a content creation focal point. None of these newfangled Apple services can take on the established players on its own just yet, though.

    While News+ may give you access to 300+ magazines, the most it managed to sign up were the LA Times and WSJ – hardly the a la carte news buffet it envisaged for its freshest offspring. Ditto for the Arcade gaming platform, and the TV+ original video content streamer. The numbers they will start with are a far cry from the established competition in the fields.

    What Apple seems to be betting on, however, is the cumulative power of the platform it has, and the stickiness that will come from offering most everything that your heart desires in the world of infotainment we all live in day in and day out. Once you go that Apple rabbit hole, it imagined, it will be hard to break up with your iPhone, iPad, Mac or even a Samsung smart set with the new Apple TV app on it.

    The ability to have your movie, TV channels and shows, newspaper, magazines, or games access folded into one Apple nexus could certainly sound appealing for many an Apple device owner. If the giants of the competition aren’t worried for their own turfs, Apple’s cumulative assault on the media and content business as a whole seems to have started tonight, and with $250 billion war chest, the folks.

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  • WhatsApp building a New Feature Allowing Users to detect spam and fake news

    WhatsApp building a New Feature Allowing Users to detect spam and fake news

    Facebook owned WhatsApp is testing a new feature that will allow a user to see how many times a message has been forwarded. The beta update to version 2.19.80 includes a new functionality allowing a user to view how many times a message he or she received has been forwarded. To obtain this information, the user needs to forward a received message, open up the Message info section, and the data will be there. A message that has been forwarded five or more times will receive a bubble that says “Frequently Forwarded.”
    The number of times that a message you sent via WhatsApp has been forwarded is something that can already be found in the Message info section. If you install the beta version of the messaging app on your Android or iOS phone (via TestFlight) you will be able to see the number of times both a sent and received message has been forwarded. WhatsApp is adding this feature to help a user see whether a message is spam. Some messages that have been forwarded a number of times are spam, or might be “fake news.”
    Facebook acquired WhatsApp in a blockbuster deal that closed in October, 2014. Originally valued at what was considered an outrageous amount of money at the time the deal was announced ($16 billion), by the time the transaction closed eight months later the purchase was valued at $21 billion.
  • Google’s new lab lends news publishers a hand in digital subscription

    Google’s new lab lends news publishers a hand in digital subscription

    Google News Initiative is preventing traditional print publishers from dying with the launch of the GNI Subscriptions Lab. In partnership with the Local Media Association and FTI Consulting, the lab seeks to develop a sustainable and thriving business model for newspapers across North America powered by digital subscriptions.

    While Local Media Association president Nancy Lane noted in a post on Google’s blog that publishers have been putting digital subscription at the center of their business transformation, she said that there has yet been “a clear template at the metro and local levels.”

    “One local publisher told me that his organisation’s existence is being threatened like never before, and that seeing his community lose the kind of journalism they produce is not an option. Another said if we as an industry can’t figure out the digital subscription model, then the end could be near,” added Lane.

    Eight publishers will be chosen to participate in an experience designed by the GNI Subscriptions Lab addressing every step of the digital subscriptions process. They are said to “represent a cross-section of the local news industry, with a mix of both chain-owned and independent community and metro titles,” said the blog post. On the selection criteria, Lane said that the publishers must be ready to involve their higher management and be dedicated to figuring out a subscriptions strategy.

    Over six months, the publishers will undergo a mix of quantitative and qualitative market research in existing and potential reader segments to understand the market, readers willingness to pay and more. The learnings will be shared with the industry at large, including at the LMA-LMC Elevate Summit in September, through experiential learning, playbooks and conference workshops. Lane said,

    The future of community journalism is indeed at stake. I can’t think of a project more important at this moment in time. This is a powerful group effort, and our expectations are high.

    Google teams will be supporting the initiative with its expertise in data, technology, product and subscriptions, while FTI Consulting will perform a full diagnostic evaluation of each participating publisher across multiple dimensions. Additionally, FTI Consulting will provide a detailed scorecard to show how each publisher sizes up, and a dashboard for measuring ongoing progress.

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