After Elon Musk tweeted he was "selling almost all [my] physical possessions," to his 33.6 million Twitter followers late last week, many chalked up the bold pledge as par-for-the-course blustering from the full-time Twitter troll and tech tycoon.But now it appears the Tesla and SpaceX chief was actually quite serious. He's already listed two of his six homes in L.A.'s Bel Air neighborhood, asking $30 million for his longtime main residence and $9.5 million for a much smaller home across the street, which was previously utilized as a private schoolhouse for his children. Both homes are listed as "for sale by owner" and include a motley batch of mostly non-professional photographs, including one that shows two of Musk's Teslas sitting in his driveway.While eschewing realtors by selling directly is not typical in L.A.'s high-end market, particularly when the seller is a high-profile celebrity, it's certainly been done before. Earlier this year,...
On Tuesday, shares of rental car company Hertz fell more than 14% after it disclosed that it received approval from its lenders to continue negotiations through May 22 to “develop a financing strategy and structure that better reflects the economic impact" of COVID-19....
Disney reported its 2020 Q2 earnings on Tuesday, and the closure of its parks was in focus. Shanghai Disneyland will reopen May 11, but the rest of the parks remain shuttered....
(Bloomberg) -- Occidental Petroleum Corp. took a $1.4 billion writedown related to an investment in a pipeline affiliate, cut capital spending and withdrew its guidance for the year after a historic collapse in oil prices.Occidental’s first-quarter loss included impairment charges related to its equity investment in Western Midstream Partners LP, the Houston-based company said in a statement Tuesday. The shale producer is reducing its budget for this year to between $2.4 billion and $2.6 billion, a drop of more than 50% from its initial plan. Shares rose 4.4% to $16 in after-market trading in New York, while Western Midstream was little changed.Occidental is more exposed than most of its rivals to the crash in crude markets after quadrupling its debt load to help finance last year’s $37 billion acquisition of Anadarko Petroleum Corp. Although Chief Executive Officer Vicki Hollub has so far survived an activist intervention by billionaire Carl Icahn, she’s...
On Tuesday, Activision Blizzard reported is first-quarter earnings report which beat on both top and bottom lines. The quarter’s performance has pushed Activision Blizzard to revise its 2020 full year guidance up from $6.45 billion to $6.8 billion, citing ‘accelerating momentum’ as it entered the second quarter since more people are playing video games during their shelter-in-place. Yahoo Finance’s Myles Udland and Jennifer Rogers break down the video game company’s earnings....
(Bloomberg) -- With China’s economy in free fall and millions of small businesses running low on cash, the online lending platform backed by billionaire Jack Ma entered crisis mode.It was mid-February, near the peak of China’s coronavirus outbreak, and MYbank had to decide whether to reduce its exposure or keep doling out loans. After a two-day marathon of calls and emails from self-isolation, the firm’s executives agreed with 25 partner banks on a potentially risky strategy: cut interest rates and turn on the credit taps like never before.MYbank is now on track to issue a record 2 trillion yuan ($282 billion) of new loans to small- and medium-sized companies this year, up nearly 18% from 2019. “In face of the virus outbreak, we have not lowered our business targets,” Jin Xiaolong, the firm’s president, said in an interview.While the lending surge aligns with Chinese government efforts to revive the world’s second-largest...
Vocational and business fleet drivers don’t get the attention that truckers do. Yet they too are on the front lines, and their jobs often bring them into uncontrolled environments every day. ...
