01 Jul Musk Seeking Tesla Deliveries Record Could Be a Double-Edged Sword Analysts’ fear is that even if Tesla does show marked improvement in deliveries this quarter, Musk will achieve this at the expense of profitability. And with a shrinking U.S. tax credit posing a threat to demand in the second half of the year, Tesla’s efforts to hand over more Model 3s overseas could further compromise earnings because of relatively higher shipping expenses. Read more...
01 Jul Factory Gauge Drops Less Than Forecast, but Orders Stall A gauge of U.S. factory activity fell in June by less than forecast as output and jobs improved though new orders stalled, highlighting the repercussions of trade uncertainty and slower growth abroad. Read more...
01 Jul Brookfield Buys Rail Operator Genesee for $8.4 Billion An affiliate of Brookfield Asset Management Inc. agreed to buy railroad company Genesee & Wyoming Inc. for about $6.3 billion, expanding its global portfolio of rail companies with a 120-line network spanning North America, Europe and Australia. Read more...
01 Jul Global Manufacturing Slump Puts Reality Check on Trade Truce Global manufacturing took another knock at the end of the second quarter, signaling a worsening economic growth outlook as U.S.-China trade tensions continue to simmer. Read more...