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Self-driving trucks begin mail delivery test for U.S. Postal Service – NBC News

Self-driving trucks begin mail delivery test for U.S. Postal Service – NBC News

Business
. Breaking News EmailsGet breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.SUBSCRIBEMay 21, 2019, 8:11 PM UTCBy ReutersThe U.S. Postal Service on Tuesday started a two-week test transporting mail across three Southwestern states using self-driving trucks, a step forward in the effort to commercialize autonomous vehicle technology for hauling freight.San Diego-based startup TuSimple said its self-driving trucks will begin hauling mail between USPS facilities in Phoenix and Dallas to see how the nascent technology might improve delivery times and costs. A safety driver will sit behind the wheel to intervene if necessary and an engineer will ride in the passenger seat.If successful, it would mark an achievement for the autonomous driving...
Tesla hires the ‘absolute unit’ meme guy to run its social media – Mashable

Tesla hires the ‘absolute unit’ meme guy to run its social media – Mashable

Business
. By Chloe Bryan2019-05-21 20:04:01 UTC Tesla has reportedly hired Adam Koszary, the man responsible for the "absolute unit" meme, as its new social media manager. Koszary, who used to work as the program manager for the Museum of English Rural Life, is known for tweeting a photo of a large ram from the museum's account in April 2018. The caption: "Look at this absolute unit."  A lot of people did look at that absolute unit, and thus a genuinely good meme was born. But nothing gold can stay. After a full calendar year in the "wholesome" category, the meme was ruined last month when Tesla founder and CEO Elon Musk saw it in a tweet from the MIT Technology Review, then decided he liked it. He even changed his Twitter avatar to the sheep (an Exmoor Horned aged ram) and his ...
Microsoft stays silent on potential Huawei Windows ban – The Verge

Microsoft stays silent on potential Huawei Windows ban – The Verge

Business
. Microsoft looks set to be the latest in a long line of US-based technology companies that are complying with President Trump’s new executive order to crack down on Chinese tech companies. Google cut off Huawei’s Android license over the weekend, but Microsoft has stayed silent on whether it will prevent the Chinese company from obtaining Windows licenses. The Verge has reached out to Microsoft multiple times for comment, but it has refused to offer any statement on the situation. Huawei’s MateBook X Pro is one of the best Windows laptops available in the US right now, but without a Windows license, it’s no longer a viable alternative to Apple’s MacBook Pro or the HP Spectre x360 and even Microsoft’s own Surface lineup. Microsoft appears to have stopp...
Ascena Retail Group Announces Closure of All Dressbarn Stores – NPR

Ascena Retail Group Announces Closure of All Dressbarn Stores – NPR

Business
. Enlarge this image The Dressbarn in Nanuet, N.Y., is one of nearly 650 stores expected to close. A final shutdown date has not been announced. Dave Kotinsky/Getty Images hide caption toggle caption Dave Kotinsky/Getty Images Dressbarn, the women's clothing chain founded in the 1960s as a place where women in need of career-wear "could find fashion at a value," is closing all its stores. Ascena Retail Group announced the closure of about 650 stores late Monday, saying the "wind-d...
Apple bid to buy Tesla in 2013 for $240 a share, analyst says – CNBC

Apple bid to buy Tesla in 2013 for $240 a share, analyst says – CNBC

Business
. GP: Elon Musk, chief executive officer of Tesla Inc., speaks during an event at the site of the company's manufacturing facility in Shanghai, China, on Monday, Jan. 7, 2019.Qilai Shen | Bloomberg | Getty ImagesWith Tesla's stock sinking to around $200 this week, Craig Irwin, an analyst at Roth Capital Partners told CNBC on Tuesday that the electric car company could have sold to Apple six years ago for a significantly higher price per share. "Around 2013, there was a serious bid from Apple at around $240 a share," Irwin said in an interview on CNBC's Squawk Box. "This is something we did multiple checks on. I have complete confidence that this is accurate. Apple bid for Tesla. I don't know if it got to a formal paperwork stage, but I know from multiple different sources that this was v...
Huawei vs. Trump: all the news about the Chinese phone maker’s messy relationship with the US – The Verge

Huawei vs. Trump: all the news about the Chinese phone maker’s messy relationship with the US – The Verge

Business
. The relationship between the US and Chinese phone maker Huawei has officially boiled over. The tensions have been mounting for nearly a year a half, starting with carriers pulling out of deals to provide Huawei phones and escalating to full-blown trade bans and the unprecedented revocation of Huawei’s Android license. All the while, the US has sought the extradition of Huawei CFO Meng Wanzhou, the daughter of founder and CEO Ren Zhengfei, on fraud charges. The primary source of the controversy, however, is the long-held belief from lawmakers and the US intelligence community that Huawei acts on behalf of the Chinese government, undermining US national security and posing cybersecurity and p...
Tesla Pares Losses Midday After Morgan Stanley Worst-Case Call – Investing.com

Tesla Pares Losses Midday After Morgan Stanley Worst-Case Call – Investing.com

Business
. © Reuters. Investing.com - Tesla (NASDAQ:) stock was fighting to avoid a fifth down day midday Tuesday as it pared losses following a withering sell-side research call. Morgan Stanley (NYSE:) analysts said that in a worst-case scenario, Tesla . Tesla shares fell 1.4% midday, above $202 and solidly above the $196.04 low of the day following the research note's release. "Tesla has grown too big relative to near-term demand, putting great strain on the fundamentals," Morgan Stanley Analyst Adam Jonas wrote. "The departure of key executives, price discounting, and extraordinary cost-cutting efforts add to the narrative of a company facing real potential stress," Jonas added. The market action follows hot on the heels of a $2....
Jamie Oliver restaurant chains collapse – BBC News

Jamie Oliver restaurant chains collapse – BBC News

Business
. Celebrity chef Jamie Oliver has said he is "saddened" after his restaurant group went into administration, with 1,000 jobs being lost.The group, which includes the Jamie's Italian chain, Barbecoa and Fifteen, has appointed KPMG as administrators.In total, 25 restaurants are affected by the move, 22 of which are from the Jamie's Italian chain.Mr Oliver, who put in £4m cash this year, said: "I appreciate how difficult this is for everyone affected."Following the appointment of administrators, all but three of the group's 25 eating establishments have closed. Two Jamie's Italian restaurants and Jamie Oliver's Diner at Gatwick Airport will continue to trade in the short term."The group had recently undertaken a process to s...
Coca-Cola is bringing back New Coke in honor of ‘Stranger Things’ – CNN

Coca-Cola is bringing back New Coke in honor of ‘Stranger Things’ – CNN

Business
. The company is bringing back a limited number of New Coke cans in honor of the upcoming third season of "Stranger Things," in which the product is featured. "Stranger Things" creators Ross and Matt Duffers came up with the idea to bring New Coke back as a way to promote the show, which will start streaming on Netflix (NFLX)on July 4. The third season of the show takes place during the summer of 1985 — when Coca-Cola (KO) debuted a new recipe for its iconic beverage. So-called New Coke was a flop: Consumers reacted so poorly to the new drink that Coca-Cola pulled it from shelves after a few months.Bringing New Coke back is a way for Coca-Cola to "not take ourselves too seriously," Stuart Kronauge, president of Coke's sparkling business unit and senior vice president of marketing ...
Tesla shares could drop to $10 in a worst-case scenario, Morgan Stanley says – CNBC

Tesla shares could drop to $10 in a worst-case scenario, Morgan Stanley says – CNBC

Business
. Morgan Stanley cut its bear (worst-case) forecast on Tesla's stock from $97 to just $10 on Tuesday, citing concerns about the company's increased debt load and geopolitical exposure.In particular, Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products. "Our revised bear case assumes Tesla misses our current Chinese volume forecast by roughly half to account for the highly volatile trade situation in the region, particularly around areas of technology, which we believe run a high and increasing risk of government/regulatory attention," the research team, which included analyst Adam Jonas, said in the note.Morgan Stanley expects the company to sell an average 165,000 units in China annually between 2020 and 2024, leading to a sales expo...