Author: Fortune
It’s been a bad year so far for startups offering electric vehicles. It could get a lot worse. The problem is not that EV sales aren’t growing. They are, despite a slowdown. It’s that they’re not growing as quickly as carmakers had anticipated. “The pace that all the automakers were expecting is not there,” former Ford CEO Mark Fields told CNBC’s Squawk on the Street on Friday. That, he added, is why we’re seeing price cuts, rising inventories, and increased incentives from EV makers. Early EV adopters, he noted, have different purchase criteria—such as innovation and environmental impact—than average buyers.…
The National Transportation Safety Board is investigating a fatal crash in San Antonio, Texas, involving a Ford electric vehicle that may have been using a partially automated driving system. The agency said in a statement Friday that a team of investigators from its Office of Highway Safety will travel to Texas and work with police on the Feb. 24 crash on Interstate 10. The NTSB said that preliminary information shows a Ford Mustang Mach-E SUV equipped with the company’s partially automated driving system collided with the rear of a Honda CR-V that was stopped in one of the highway lanes.…
“Kung Fu Panda 4” stayed at the top of the North American box office in its second weekend in theaters. The Universal and DreamWorks Animation movie earned $30 million in ticket sales, according to studio estimates Sunday. The franchise featuring the voice of Jack Black is responsible for over $1.9 billion at the box office since it launched in 2008 and spawned several animated series, shorts, video games and a holiday special. The fourth installment, playing in 4,067 locations in North America, has already made $107.7 million domestically. There were several new movies arriving in over 1,000 theaters (or expanding)…
Tesla and a Black man who worked at the company’s California factory have settled a long-running discrimination case that drew attention to the electric vehicle maker’s treatment of minorities. Owen Diaz, who was awarded nearly $3.2 million by a federal jury last April, reached a “final, binding settlement agreement that fully resolves all claims,” according to a document filed Friday with the U.S. District Court in San Francisco. The document, which gave no details of the agreement, said both parties agree that the matter has been resolved and the case against the company run by Elon Musk can be dismissed. Messages were…
The European Union on Sunday announced a 7.4 billion-euro ($8 billion) aid package for cash-strapped Egypt as concerns mount that economic pressure and conflicts in neighboring countries could drive more migrants to European shores. The deal, which drew criticism from rights groups over Egypt’s human rights record, is scheduled to be signed during a visit Sunday by European Commission President Ursula von der Leyen and leaders of Belgium, Italy, Austria, Cyprus and Greece, according to Egyptian officials. Egyptian President Abdel Fattah el-Sissi met separately with von der Leyen and other European leaders before the signing ceremony on Sunday afternoon. The aid package includes…
Imagine the world’s wealthiest woman strolling down Wall Street sporting an all-black outfit, including a veil, and smoking cheap cigars with a group of reporters in tow. For New Yorkers of the late 1800s and 1900s, that odd picture was actually a common sight. The whaling heiress turned investing legend Hetty Green, born in 1834, earned her title as the “Witch of Wall Street” later in life by parading around in this unusual style—and media portrayals of her “miserliness” and bad temper only bolstered the narrative. But Green was much more than just Wall Street’s witch. She was a savvy,…
Hetty Green isn’t a name you hear a lot these days—but it should be. The whaling heiress turned investing guru was making millions and dishing out sage advice on Wall Street decades before the man known as the greatest investor of our era, Warren Buffett, was even born. And when Benjamin Graham, Buffett’s hero and the man they call “the Father of value investing,” was in grade school, Green had already made millions buying Civil War bonds, railroad stocks, and mines. She made a killing in mortgage lending, too—never charging excessive interest, but likewise unafraid to foreclose if she wasn’t…
Hetty Green is remembered as the “world’s greatest miser” and the “Witch of Wall Street,” but these days, Green would likely be seen as an eccentric investing icon. After all, while she became famous for her frugal nature and gruff exterior, Green pioneered value investing strategies that have made billionaires out of many of today’s leading investors. And when the chips were down, when people really needed help, the whaling heiress turned independent investor, business tycoon, and world’s wealthiest woman often used her fortune to save the day. There’s perhaps no better example of Green’s misunderstood legacy than the knickerbocker…
Shaun Grove has worn many hats in his 47 years, from being a semi-professional football player in Europe, to working as an attorney and an FBI agent. For the last decade, he’s focused on fitness, as the president of Club Pilates and Rumble Boxing. Grove believes his dedication is what has allowed him to hang so many things on that hypothetical hat rack. “I’m dedicated to achieving the goals I set for myself. I have always had a high level of confidence and belief in myself, which has helped me to succeed in many different career endeavors,” Grove tells Fortune.…
If you’re feeling some St. Patrick’s Day magic, you might want to buy a lottery ticket. Mega Millions and Powerball have racked up some massive jackpots after weeks of rollovers. The Mega Millions jackpot is already estimated at a whopping $875 million for Tuesday night’s drawing after no tickets matched all six numbers drawn on Friday night. And Saturday night’s Powerball jackpot is $600 million. Just keep in mind that the odds of winning any lottery jackpot are very slim. Mega Millions players have a 1 in 302.6 million chance of taking home the top prize. And it’s not much easier to…