Robust corporate results helped world stock markets surge on Wednesday, bringing some relief to jittery investors after a brutal October sank equities with one of their worst drops since the financial crisis 10 years ago.
Twitter is digging one of its most important new features out of its settings and putting it within easy reach. Twitter is now testing with a small number of iOS users a homescreen button that lets you instantly switch from its algorithmic timeline that shows the best tweets first but out of order to the old reverse chronological feed that only shows people you follow — no tweets liked by friends or other randomness.
Twitter had previously buried this option in its settings. In mid-September, it fixed the setting so it would only show a raw reverse chronological feed of tweets by people you follow with nothing extra added, and promised a more easily accessible design for the feature in the future. Now we have our first look at it. A little Twitter sparkle icon in the top opens a menu where you can switch between Top Tweets and Latest Tweets, plus a link to your content settings.
Lewis Wing’s spectacular goal edges Middlesbrough past Crystal Palace and through to the Carabao Cup quarter-finals.
In the third quarter of 2018, Panasonic lost $65 million in the branch of the business that makes battery cells to power Tesla’s electric vehicles, according to The Wall Street Journal. The company said it had to add production and hire workers more quickly than expected as Tesla aggressively ramped up to producing 4,300 Model 3 vehicles a week.
In September, the head of Panasonic’s Automotive Division said that the company was on track to complete three new production lines at Tesla’s Gigafactory in Sparks, Nevada, by the end of the year. That would bring the total number of battery-cell-producing lines at the Gigafactory up to 13.
The Model 3 ramp up that ate into Panasonic’s bottom line didn’t have the same effect on Tesla, which posted its first profitable quarter in several quarters last week. It shares soared.
General Motors has offered voluntary buyouts to 18,000 salaried employees in North America who have at least 12 years of experience, as the automaker looks to cut costs all while investing in its electric and autonomous future.
The company has described this as a proactive measure aimed at preparing for coming headwinds such as slow sales in North America and China, commodity prices and tariffs.
But it’s just as much about preparing for the future. The company has been undergoing a transformation over the past four to five years, ditching expensive, money-losing programs like the Opel brand in Europe, and investing more into electrification and autonomous vehicle technology.
And it’s not wasting any time.
GM is giving these employees until November 19 to decide whether they’ll take the buyout offer. Those who accept will receive severance beginning February 1, 2019.
About 36 percent of the company’s 50,000 employees in North America are eligible for the buyout. A GM spokesman declined to say how many employees it expected to take the buyout, except to predict that it was unlikely the number would be anywhere close to 18,000.
GM has been on a three-year $6.5 billion cost-cutting mission that it expects to hit by the end of the year. GM CFO Dhivya Suryadevara said in the company’s earnings call Wednesday that GM had made $6.3 billion in cost-saving measures as of the end of the third quarter.
GM’s cost-cutting measures have happened in parallel with its investments and commitments to electrification and autonomous technology. GM acquired Cruise Automation for $1 billion in 2016. Earlier this year, the automaker said it would invest another $1.1 billion into its self-driving unit as part of a bigger deal with SoftBank. Cruise Holdings has said it will launch a commercial autonomous vehicle ride-hailing service in 2019.
It has also focused on hiring more software engineers, and will continue to add those kinds of jobs even as the buyouts begin, according to GM.
GM’s plan is to launch 20 new all-electric vehicles globally by 2023 and increase production of the Chevy Bolt. At an event in September, GM chairman and CEO Mary Barra said the company is poised to build more all-electric vehicles as improvements continue at its recently expanded battery lab and a new LG Electronics plant in Michigan comes online.
The LG Electronics facility in Hazel Park will start making battery packs this fall to supply GM’s Orion Assembly Plant, where the automaker builds the all-electric Chevrolet Bolt.
“Now, the race is wide open once again .”