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Rupert Stadler, Ex-Audi Chief, Charged With Fraud in Diesel Scandal

Rupert Stadler, Ex-Audi Chief, Charged With Fraud in Diesel Scandal

Market
BERLIN — German prosecutors on Wednesday charged Rupert Stadler, former chief executive of the Audi luxury car division of Volkswagen, with fraud for the company’s role in a diesel emissions cheating scandal. Mr. Stadler and three others who were not named were accused of developing illegal emissions software used in cars sold under the Volkswagen, Audi and Porsche brands as part of a wider effort to cheat diesel emissions tests, Munich prosecutors said in a statement. The charges were the latest in Germany’s efforts to investigate and prosecute the architects of the scandal that has rocked the country’s automobile industry and laid bare the extent to which the companies tried to make diesel appear to be an environmentally friendly fuel option. The state court in Munich wil
Sony has sold 100 million PlayStation 4 consoles

Sony has sold 100 million PlayStation 4 consoles

Business, Market
Despite flagging sales of late, Sony's PlayStation 4 has sold 100 million units, making it the fastest-selling console to hit that number. In its latest earnings report, Sony revealed that it sold 3.2 million PS4s between March 31st and June 30th, after announcing that 96.8 million units had sold in the previous quarter. That means it hit the 100 million figure on the nose in 5 years and seven months, just two months quicker than Nintendo's Wii. Sony also revealed that for the first time, folks are buying more games via digital downloads than physical discs, marking a trend that's been ongoing for a while now. Despite its half-decade age, PS4 sales have never really flagged until recently, with 17.8 million sold last year, down just 1.2 million over 2017. However, it took a...
Stock Market Rebounds Following Downtrend Caused by The U.S. – China Trade Concerns

Stock Market Rebounds Following Downtrend Caused by The U.S. – China Trade Concerns

Market
On Sunday, the President of the United States, Donald Trump threatened to increased tariffs on imports from China from 10% to 25%. This led to a market-wide panic sell-off as expected. There is an upcoming meeting in Washington this week to discuss the trade deal. However, Trump's comments led investors to believe that the conclusion of the trade deal will not be favorable to the Chinese yuan. The U.S  -China trade war has been ongoing for a while now and it has affected the stock market dearly. On Monday, Dow dropped by over 450 points due to a panic sell-off. Other stocks were affected but it was followed by a rally in the afternoon of the same day. In the afternoon, Dow moved up by 0.3% gaining more than 66.47 points in a steady surge. As the market bleed out stocks that we
Bernie Sanders Encourages Disney to Increase Workers Wages with the Profit from Avengers: End Game

Bernie Sanders Encourages Disney to Increase Workers Wages with the Profit from Avengers: End Game

Market
Last weekend, the long-awaited Avengers: End Game was debuted. As expected, it was a record-breaking success. Globally, Disney made $1.2 billion in ticket sales while they made about $350 million in the United States alone. Now, presidential aspirant, Bernie Sanders has suggested that Disney does something heroic with the profits they generated from End Game. Taking to Twitter, Sanders suggested that Disney uses the profit it generated from End Game to increase the compensation of middle-class workers within the company. Right now, the CEO of the company, Bob Iger, earns about $65.6 million. This amount is about 1,400 times higher than what the average Disney worker earns according to Sanders. This is the first time Sanders is talking about the compensation plan at Disney. ...
Securities and Exchange Commission Settles Legal Beef with Tesla CEO, Elon Musk

Securities and Exchange Commission Settles Legal Beef with Tesla CEO, Elon Musk

Market
Yesterday, the United States Securities and Exchange Commission and the CEO of Tesla took to Twitter to announce the settlement from a controversy that started after a post by Elon Musk. As released in the court filing, both parties have agreed to make an adjustment to the initial settlement. The new settlement gives a more specific explanation of the types of tweets that Musk needs to show a lawyer before posting and the tweets that may be considered misleading to investors. Musk believed that the initial settlement was vague as it only stated that potentially material statements by the CEO must pass through an experienced lawyer before being posted. He said that the SEC assumed that he would know if a statement is "material" before asking a lawyer to vet it. So, the SEC had ...
Wall Street Analysts Warn Investors Not To Be Fooled By Sudden New Highs In Stock Market

Wall Street Analysts Warn Investors Not To Be Fooled By Sudden New Highs In Stock Market

Market
On Tuesday, the United States stock market closed at record-breaking highs. Since then, traders and investors have been on a buying spree. However, Private Wealth Management's senior portfolio manager, Michael Baele has urged investors about buying stocks because of the recent highs. Speaking to the Wall Street Journal, he said that the United States stock market is trying to repeat what happened in the last quarter of 2018. In his opinion, the current buying pressure is influenced by panic and not strong technicals and fundamentals. Long-term traders are worried that the Feds will increase the rates so they want to buy as much as they can at the current rate. Michael Baele isn't the only experienced analyst who has advised investors to proceed with caution. ThinkMarkets UK...