14 August

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Tesla says Elon Musk’s 2020 compensation was nil By Reuters

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(Reuters) - Tesla Inc said on Friday Chief Executive Officer Elon Musk's total compensation for 2020 was nil, compared to $23,760 in 2019. The electric-car maker also said in a regulatory filing that finance chief Zachary Kirkhorn's total compensation was $46.6 million, versus the $21.2 million he got in 2019. The pay package of Musk, who is also a major shareholder and CEO of rocket maker SpaceX, requires Tesla's market capitalization and financial growth to hit a series of rising targets. As of April, Musk had qualified for Tesla options in his 2018 pay package that...

14 August

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U.S. trade judge finds Google infringed five Sonos patents By Reuters

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By Jonathan Stempel (Reuters) - A U.S. trade judge ruled on Friday that Alphabet (NASDAQ:GOOGL) Inc's Google infringed five patents belonging to Sonos Inc that concern smart speakers and related technology, a decision that could lead to an import ban. The brief ruling from Charles Bullock, the chief administrative law judge of the U.S. International Trade Commission, did not explain why Google's sale of the products violated a 1930 federal tariff law, commonly known as Smoot-Hawley, designed to prevent unfair competition. Sonos has been trying to block Google from importing Home smart speakers, Pixel phones and...

14 August

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Ford counterattacks in ‘cruise’ dispute with GM By Reuters

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By Joseph White DETROIT (Reuters) - Ford Motor (NYSE:F) Co said late on Friday it will ask the U.S. Patent Office to rescind trademarks obtained by rival General Motors Co (NYSE:GM) for the terms "Cruise" and "Super Cruise," escalating a brawl GM began by suing Ford over its use of "Blue Cruise" for an automated driving system. The legal fight between the two Detroit automakers turns on whether "cruise" is a generic term for technology that allows the car to take over some share of driving tasks from a human motorist. The clash underscores the...

14 August

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Summers Faults Biden’s Effort to Champion Lower Gasoline Prices By Bloomberg

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(Bloomberg) -- Former Treasury Secretary Lawrence Summers criticized President Joe Biden’s efforts to lower the price of gasoline, saying it should be allowed to rise because fossil fuel consumption warms the planet. Summers said in an interview Friday on Bloomberg Television’s “Wall Street Week” that the Biden administration should instead adjust its trade and economic policies to help lower the price of other goods. “There’s no more important price to increase in the American economy than the price of carbon-based fuels,” said Summers, a paid Bloomberg contributor. “This is a perverse kind of step from...

14 August

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Junior Bankers’ Raises Widen Record Pay Gap Among College Grads By Bloomberg

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(Bloomberg) -- Much of Michael Lewis’s graphic description of life for junior bankers in the early 1980s still rings true today. Fresh college grads “gave themselves over entirely” to firms, working so many nights and weekends that one friend learned to nap on the office toilet, the author recalled in his semi-autobiographical “Liar’s Poker.” But one thing is changing fast: The pay. A recent wave of raises meant to address complaints that rookie bankers, known as analysts, work too hard for too little means this year’s newbies will get salaries of at least $100,000, before five-figure...

14 August

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Britain’s drug regulator set to make 25% of its staff redundant -FT By Reuters

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(Reuters) - Britain's drug regulator is set to make 25% of its staff redundant amid financial pressures, with up to 300 staff members being at risk of losing their jobs, the Financial Times reported on Friday. Senior personnel at the Medicines and Healthcare products Regulatory Agency (MHRA) have expressed "deep concern" over the plans, the report added, citing a letter to the agency's board by senior staff. The need for budget cuts at the MHRA is driven in part by Brexit and the loss of millions of pounds of annual income from its role authorising medicines...

13 August

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Canada to Require Vaccines for Air Travelers, Public Servants By Bloomberg

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(Bloomberg) -- Canada will impose mandatory vaccination requirements for air travelers and federal government employees. Government officials made the announcement Friday, saying the plan is to require employees of the federal government to be inoculated by early fall. All passengers in the transportation sector-- including air, rail and cruise ships -- will also need proof of vaccination by no later than end of October. The move comes amid efforts by other countries, like the U.S., to impose stricter rules for federal workers to limit the spread of Covid-19. Canada has a relatively high vaccination rate with...

13 August

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S&P 500, Dow Ease From Record on Signs of Wary Consumer By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 and Dow eased from record highs Friday, as investors weighed up mostly positive quarterly reports from corporates, and signs that the Delta variant is weighing on the economy. The S&P 500 rose 0.1%, and was close to its record high of 4,467.94, while the Dow Jones Industrial Average was flat, easing from its intraday record of 35,610.57, the Nasdaq was down 0.1%. The University of Michigan Consumer Sentiment index slumped to a reading of 70.2 in the preliminary August survey from 81.2 in July, the weakest reading since...

13 August

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Canada shares lower at close of trade; S&P/TSX Composite down 0.03% By Investing.com

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Investing.com – Canada equities were lower at the close on Friday, as losses in the Energy, Healthcare and REITs sectors propelled shares lower. At the close in Toronto, the S&P/TSX Composite fell 0.03%. The biggest gainers of the session on the S&P/TSX Composite were Pretium Resources Inc. (TSX:PVG), which rose 17.20% or 1.82 points to trade at 12.40 at the close. Altus Group Limited (TSX:AIF) added 13.16% or 7.85 points to end at 67.51 and OrganiGram Holdings Inc (TSX:OGI) was up 6.25% or 0.21 points to 3.57 in late trade. Biggest losers...

13 August

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Consumer Sentiment in U.S. Plunges to Lowest Since 2011 By Bloomberg

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(Bloomberg) -- U.S. consumer sentiment fell in early August to the lowest level in nearly a decade as Americans grew more concerned about the economy’s prospects, inflation and the recent surge in coronavirus cases. The University of Michigan’s preliminary sentiment index fell by 11 points to 70.2, the lowest since December 2011, data released Friday showed. The figure fell well short of all estimates in a Bloomberg survey of economists. The slump in confidence risks a more pronounced slowing in economic growth in coming months should consumers rein in spending. The recent deterioration in sentiment highlights...

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Tesla says Elon Musk’s 2020 compensation was nil By Reuters

U.S. trade judge finds Google infringed five Sonos patents By Reuters

Ford counterattacks in ‘cruise’ dispute with GM By Reuters

Summers Faults Biden’s Effort to Champion Lower Gasoline Prices By Bloomberg

Junior Bankers’ Raises Widen Record Pay Gap Among College Grads By Bloomberg

Britain’s drug regulator set to make 25% of its staff redundant -FT By Reuters

Canada to Require Vaccines for Air Travelers, Public Servants By Bloomberg

S&P 500, Dow Ease From Record on Signs of Wary Consumer By Investing.com

Canada shares lower at close of trade; S&P/TSX Composite down 0.03% By Investing.com

Consumer Sentiment in U.S. Plunges to Lowest Since 2011 By Bloomberg

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