Author: News Room

© Reuters. FILE PHOTO: A logo of Tesla Motors on an electric car model is seen outside a showroom in New York June 28, 2010. REUTERS/Shannon Stapleton By Hyunjoo Jin and Nivedita Balu (Reuters) -Tesla Inc on Thursday nominated co-founder and former Chief Technology Officer JB Straubel to the board at a time when some investors have expressed concern about a lack of succession planning at the electric carmaker led by Chief Executive Elon Musk. Tesla (NASDAQ:) also named Tom Zhu, who led construction and operations of Tesla’s Shanghai factory, as senior vice president for automotive operations. This makes him…

Wholesale inventories rose 0.1% in February and sales in the month climbed 0.4%, the government said Monday. The inventory-to-sales ratio fell a tick to 1.37 months from 1.38. A year ago the ratio stood at a much lower 1.24. The ratio reflects how long it would take a company to sell all the goods sitting on warehouse shelves. Higher inventory levels reflect softer sales as the economy slows. Businesses have trimmed production to bring inventories more in line with demand. That could also depress the economy. Read the full article here

The Internal Revenue Service is getting specific on how it wants use $80 billion in extra funding over a decade to bolster top-end tax enforcement, and shore up customer service for millions of taxpayers.Everyday taxpayers can expect more ways to quickly deal with the IRS online and over the phone, while getting help from the agency spotting possible errors before filing or alerts to eligible tax breaks. Meanwhile, wealthy taxpayers and large corporations can expect extra scrutiny on complex tax returns to make sure they’ve paid their full tax obligation, according to a spending plan IRS and Treasury Department officials…

By Denny Jacob Minim Inc. on Friday said Jeremy Hitchcock has been named executive chairman as Chief Executive Mehul Patel has stepped down to pursue other opportunities. The home networking products and software company said Mr. Hitchcock is the founder, chairman and former CEO of Minim and Dyn. Write to Denny Jacob at [email protected] Read the full article here

U.S. stock futures traded weaker to flat on Monday, with signs that technology could be leading any lower action following the long Easter weekend. S&P 500 futures ES00, -0.60% fell 8 points, or nearly 0.2%, to 4,124, while Dow Jones Industrial Average futures YM00, +0.02% eased 11 points to 33,650 and Nasdaq-100 futures NQ00, -1.36% fell 64.5 points, or 0.4%, to 13,107. While equity and bond markets were closed for the Good Friday holiday, data showed the U.S. added 236,000 new jobs in March, dashing the Federal Reserve’s hopes for a big slowdown in hiring and possibly opening the door…

The remarkable pace with which President Joe Biden has sought to remake the federal bench has been put into jeopardy by dual threats: Democratic Senate absences and a Senate rule that gives Republicans the ability to veto district court nominees for courts in their home states. It’s a combination that has Democrats increasingly concerned about the fate of future nominees at a time when the party had hoped to counteract years judiciary transformation under President Donald Trump. The latest blow came last week when Biden’s choice to fill a district court vacancy in Mississippi became the second nominee to be…

The Pentagon on Monday rushed to contain the fallout from a leak of classified intelligence documents about the war in Ukraine as well as other sensitive information from Asia and the Middle East.The Department of Justice has opened a criminal investigation into the leak of dozens of documents, and US officials are working to determine the source of the leak and what ramifications it could have on the battlefield and on US efforts to gather intelligence.“The Department of Defense continues to review and assess the validity of the photographed documents that are circulating on social media sites and that appear…

As a standalone company, Broadcom Inc. (NASDAQ:AVGO)’s diversification and market opportunities have allowed AVGO to return strong financial performance over the years and I believe this advantage would continue in the foreseeable future leading me to value the shares at $581. However, the potential acquisition of VMware (VMW) could add benefits such as enhanced hybrid cloud computing, network function virtualization, security, and end-user computing products, increasing the value per share anywhere from $80 to $187. In this article, I will discuss AVGO’s market opportunities, growth drivers, diversification, competitive advantages, financial performance, and growth prospects. Furthermore, I will explore the pending…

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