Skip to content
Tesla's $104 million second quarter profit came from the selling of pollution credits, not cars....
(Bloomberg) -- Elon Musk has a plea for mining companies: “Please mine more nickel.”“Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way,” said Musk, chief executive officer of the electric-carmaker, during a second-quarter earnings call.Musk’s plea comes as one of Japan’s general trading giants is about to take a roughly $500 million writedown on a nickel project in Madagascar because of low prices and the coronavirus pandemic.Supplies of battery-grade nickel -- a key component in the cathode of an electric vehicle’s battery -- could run short as early as 2023. BloombergNEF expects a tight balance in the next two to three years as lithium-ion battery demand picks up.Already, Ambatovy -- one of the world’s largest nickel projects, with full operational capacity representing 5% of class 1 nickel global production capacity -- hasn’t resumed operations after being...
As COVID-19 cases, positive test percentages, and hospitalizations and deaths rise, there's increasing momentum for widespread use of face coverings to slow the spread of the pandemic. Trucking has been ahead of the curve and should continue to lead the way, says Editor in Chief Deborah Lockridge in her blog. ...
(Bloomberg) -- The economic shock from the coronavirus caused companies, consumers and investors to hoard cash like almost never before.Many experts expect that urge to save to stick around for the long haul. And that should create strong demand for the safest fixed-income products, a force that could lend a hand to the Federal Reserve when it comes to suppressing yields as the government ramps up its supply of bonds to pay for economic stimulus measures.Deposits at U.S. commercial banks have surged by 18% this year to a record $15.6 trillion, according to Fed data. The flood of cash into money-market mutual funds has subsided, but at $4.6 trillion the total is still nearly $1 trillion larger than before the pandemic, Investment Company Institute data show. Anthony Crescenzi, a portfolio manager at Pacific Investment Management Co., is among those saying that uncertainty about the economy will keep cash accounts bloated.“The high...
Stocks are aiming to build on Wednesday's gains, with investors focused on the U.S.’s unchecked coronavirus crisis and jobless claims....
