Tesla Inc. Chief Executive Elon Musk said Tuesday that the car maker "has a small acquisition we need to complete" before launching an insurance product. Musk promised in April to launch a new insurance product in about a month. "Pretty close to being able to release that, we have a small acquisition that we need to complete and a bit of software to write, but it won't be long before we release that," Musk said. The notion of a car maker selling insurance has faced derision from analysts and observers as prominent as Warren Buffett, but Musk has said that Tesla can offer insurance "much more compelling than everything else out there."
Nicholas Rossolillo, The Motley FoolMotley FoolJune 11, 2019, 10:31 PM UTC. When Google parent company Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) recently announced the purchase of data applications and analytics outfit Looker, the deal made sense. According to a report from Mordor Research, the data visualization market is expected to grow close to 10% a year through 2023, when it is expected to reach an annual value of nearly $8 billion. The combination of Google Cloud and Looker will enable customers to harness data in new ways to drive their digital transformation. Perhaps Google Cloud considered buying Tableau as well, but ultimately chose the discount path with Looker -- leaving the spend-happy deal-making to Benioff & Co. Whatever happened behind closed doors, it's Salesforce that is tying up the bigger big-data cloud acquisition, giving it another powerful tool to capitalize on digital transformation.
(See the last ‘Oil & Gas Stock Roundup’ here: Deals From Chevron, Canadian Natural & TC Energy). Data showing drillers in the United States cutting oil rigs the most in six weeks brought further upside. However, natural gas prices suffered after a government report showed another larger-than-expected increase in natural gas supplies. The cash and stock transaction, which is valued at $2.2 billion, includes the assumption of Covey Park’s outstanding debt and retirement of the existing preferred units, aggregating $1.1 billion. In a strategy update, the European energy giant announced plans to return at least $125 billion to its shareholders via dividends and share repurchase in the 2021-2025-time frame, as long as Brent crude do not fall below $60 per barrel.
Tesla has a 'decent shot' at a record quarter on every level - Musk.
ReutersJune 11, 2019, 10:15 PM UTC.
(Reuters) - Tesla Inc has got "a decent shot at a record quarter on every level", Chief Executive Officer Elon Musk said at the company's annual shareholder meeting on Tuesday.
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SAN FRANCISCO — Facebook is launching an app that will pay users to share information with the social media giant about which apps they're using. The company previously rolled out two similar apps. But both were shut down after drawing criticism for infringing on privacy, and one was cited for violating Apple's App Store terms of agreement. Facebook says the new app, called Study, is different than the previous two. And it is only available on the Google Play Store. Magazine Walter Mondale still in demand and politically engaged at 91.
Alphabet Inc.’s Google is moving some production of Nest thermostats and server hardware out of China, avoiding punitive U.S. tariffs and an increasingly hostile government in Beijing, according to people familiar with the matter. Google has already shifted much of its production of U.S.-bound motherboards to Taiwan, averting a 25% tariff, said the people, asking not to be identified discussing internal matters. While U.S. officials have pinpointed Chinese-made motherboards as a security risk, Google didn’t bring that up during discussions with its suppliers, they said. The Taiwanese contract manufacturers that make most of the world’s electronics, including Apple Inc. partner Foxconn Technology Group, have since 2018 accelerated the shift at their clients’ behest. While Google’s hardware production in China pales in comparison to the likes of Apple, its shift may herald a broader trend as tensions between Beijing and Washington escalate. Those computing hubs help it offer search and productivity tools on a cloud services platform, and power the world’s largest mobile platform as well as services from mapping to search. And among major U.S. tech companies that operate so-called hyperscale or giant data centers, Google is keener than others including Facebook, Microsoft Corp. and Amazon.com Inc. to shift server motherboards out of China.
The Entrepreneur Index™ fared slightly better, closing the day with a gain of 0.08 percent. It was up 1.98 percent after Morgan Stanley analyst Adam Jonas suggested that investors were undervaluing the company's potential upside from its autonomous driving technology. The shares are up more than twenty percent in June after losing nearly fifty percent of their value in the first five months of the year. Other notable gains on the Entrepreneur Index™ today included Ford Motor Co. (1.02 percent), Capital One Financial (1.01 percent), Hess Corp. (1.26 percent) and Chipotle Mexican Grill (1.21 percent).
June 11 (Reuters) - U.S. refiner PBF Energy Inc on Tuesday agreed to pay up to $1 billion for a California oil refinery that Royal Dutch Shell PLC has been trying to sell for at least four years. Terms of the deal require Shell to pay an undisclosed amount for turnaround costs anticipated in the first quarter of 2020 and future capital expenses, PBF said in a statement. Shell had put the Martinez, California plant on the market in 2015 and later suspended its sales efforts after a fire at the facility. "The recent global macro softness could have helped the parties to come to an agreement," said Matthew Blair, a refining analyst at investment bank Tudor, Pickering, Holt & Co. PBF had earlier looked at buying the facility from Shell, but was unable to reach an agreement and it recently re-approached the Anglo-Dutch oil giant, a person familiar with the matter said.
HOUSTON, June 12, 2019 /PRNewswire/ -- Equilon Enterprises LLC d/b/a Shell Oil Products US (Shell), a subsidiary of Royal Dutch Shell plc announced it has reached an agreement for the sale of Shell's Martinez Refinery in California to PBF Holding Company LLC, a subsidiary of PBF Energy, Inc., for $1.0 billion consideration plus the value of hydrocarbon inventory, crude oil supply and product offtake agreements, and other adjustments. This divestment aligns with Shell's strategy to reshape refining efforts towards a smaller, smarter refining portfolio focused on further integration with Shell Trading hubs, Chemicals, and Marketing. In this release "Shell", "Shell group" and "Royal Dutch Shell" are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell's products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions.