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(Bloomberg Opinion) -- You know Tesla Inc. is maturing as a carmaker when it manages to be slightly dull. Wednesday evening’s earnings update was even more eagerly anticipated than usual after the recent surge in its share price. Elon Musk’s company has added an astonishing $200 billion to its already ample market capitalization since the end of March.Confirmation that Tesla will add a second U.S. factory in Austin, Texas is certainly something to celebrate — especially for the workers it will employ there to build its Cybertruck and other products. So too is the fourth consecutive quarter of net profit, which may prompt the company’s inclusion in the S&P500.And yet the earnings call — where Musk has in the past ranted about “fascist” virus lockdowns and attacked analysts for asking “boring, bonehead” questions — was a bit of a snooze. It even featured a long discussion about insurance and Musk’s appreciation for the actuarial profession.In the current economic environment,...
A reopening of some major economies locked down due to the coronavirus has lifted global oil prices and encouraged U.S. shale producers to return at least a third of the 2 million barrels per day (bpd) curtailed since April. With most new drilling halted and OPEC relaxing curbs that have underpinned the oil-price recovery, shale output will slide again in autumn, said oil executives and analysts. Shale output falls off faster than at conventional oil wells, a factor that will lead to output declining by September....
A surge in demand for Roche's COVID-19 tests, as some governments even sent military jets to pick up supplies, failed to offset the hit to other parts of the healthcare company's business from the COVID-19 pandemic, it said on Thursday. Shares in the Swiss group slipped 1.5% in early trading after it reported a 10% drop in second-quarter revenue to 14.1 billion Swiss francs ($15.2 billion). Factoring out the strong Swiss franc, revenue fell 4%....
Beyond Meat Inc. (BYND) has announced a new veggie burger which will be produced locally in Canada. Made with simple, plant-based ingredients without GMOs, the Beyond Burger is designed to meet, if not exceed, the nutritional profile of its animal protein equivalent- and boasts 35% less saturated fat.The California-based vegan brand says that its newest burger offers 20g of protein derived from “simple, plant-based ingredients like peas, mung beans, and rice, and features marbling made from cocoa butter that is designed to melt and tenderize like beef.”In a July 22 press release, Beyond Meat CEO Ethan Brown said, “We look forward to providing the Canadian consumer with our latest burger iteration and to furthering our commitment to this important market by investing in local production.” He added, “Our process of rapid and relentless innovation in service of the consumer, and making investments in the markets we serve, are key pillars in our...
U.S. gold futures rose 0.1% to $1,867. "With tension between the United States and China rising, U.S. bond yields continuing to edge lower, and a weaker dollar very much in evidence, the case for higher gold prices remains strong," said Jeffrey Halley, a senior market analyst at OANDA. In a marked escalation between the world's two biggest economies, the United States gave China until Friday to close its consulate in Houston amid accusations of spying, which also hit risk sentiment....
