Elon Musk: Why Tesla Fired 700 Employees – Fortune

Tesla CEO Elon Musk called recent media coverage over the company’s decision to fire about 700 employees following annual performance reviews “ridiculous” and that the automaker must have higher standards than its competitors if it hopes to survive. “At every company in the world, there’s annual performance reviews,” Musk said, adding that Tesla has an […]

Fed keeps rates unchanged, remains on road to December rate hike – Reuters

WASHINGTON (Reuters) – The Federal Reserve kept interest rates unchanged on Wednesday and pointed to solid U.S. economic growth and a strengthening labor market while playing down the impact of recent hurricanes, a sign it is on track to lift borrowing costs again in December. Investors had all but ruled out a rate hike at […]

Under Armour’s terrible year just got worse – Washington Post

A woman runs past an Under Armour store in downtown Chicago on Oct. 16. (Christopher Dilts/Bloomberg) Americans, it seems, are over Under Armour. The onetime darling of the athletic wear industry on Tuesday announced that sales are down for the first time since 2005, even as it makes an aggressive push to expand into mainstream chains like DSW, […]

Trump Is Expected to Name Jerome Powell as Next Fed Chairman – New York Times

In looking past Ms. Yellen, Mr. Trump would be breaking with longstanding precedent. Every Fed chairman in modern history who completed a first four-year term was nominated for a second. The last three Fed chairmen were nominated for new terms by a president of the opposite party. And Mr. Trump has praised Ms. Yellen’s performance: […]

GE’s board was kept in the dark about Immelt’s use of a shadow jet, which he says he didn’t know about: WSJ – CNBC

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JC Penney Suffers Worst Drop in Decades on Loss Forecast – Bloomberg

JC Penney Suffers Worst Drop in Decades on Loss Forecast – Bloomberg

J.C. Penney Co. shares tumbled the most in more than three decades, hurt by deeper losses and a sense among investors that department stores are stuck in an intractable slide. The rout followed a warning by the company that a massive inventory liquidation would bring a flood of red ink in the third quarter, reinforcing […]

Tesla is immune to bad news — here’s why – Business Insider

Tesla is immune to bad news — here’s why – Business Insider

Elon Musk at SpaceX Hyperloop Pod II competition in Hawthorne, CaliforniaReuters/Mike Blake Tesla has reliably produced an endless stream of bad news during the last year. Investors haven’t cared, or haven’t cared for long. That pattern will probably continue, short of Tesla threatening bankruptcy. Tesla isn’t like other companies, and that’s both a good thing […]

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