According to The Wall Street Journal, Uber has asked retiring General Electric Co. (NYSE: GE) CEO Jeff Immelt to be a candidate to run the troubled ride-sharing company.
Amazon.com Inc.’s (NASDAQ: AMZN) Jeff Bezos was the richest man in the world for a few hours. After the market closed, Amazon’s earnings dropped its stock and the number one spot went back to Microsoft Corp. (NASDAQ: MSFT) founder Bill Gates.
Ben Van Beurden, head of Royal Dutch Shell PLC (NYSE: RDS-A), told Bloomberg:
“We are getting fit for the $40s, with the way we are going,” Van Beurden said, referring to oil prices. Shell is operating under the assumption that crude will be “lower forever,” he said.
The Tesla Motors Inc. (NASDAQ: TSLA) Model 3 will launch today, getting the electric car company into the mid-market of auto sales. The car is expected to cost about $35,000. At one point, Tesla had nearly 400,000 reservations for the new vehicle.
According to CNBC, Goldman Sachs Group Inc. (NYSE: GS) believes oil prices may rise soon. The cable network’s reporters wrote:
The rebalancing in the oil market is accelerating, said Goldman Sachs in a note on Thursday.
“While OPEC’s production path remains uncertain, recent fundamental oil data have come in even better than we had expected,” Goldman said. “If sustained, these trends would help achieve the normalization in inventories by early next year.”
Oil prices have rebounded over the past month due to large inventory draws, falling U.S. rig count and strong demand data, with prices rising above Goldman’s September 2017 forecast of $50 a barrel Brent, the investment bank noted.
The New York Times reports that Elon Musk’s SpaceX recently reached a private company valuation of $21 billion. The paper’s editors reported the company raised $350 billion at that valuation. SpaceX has become a major competitor to more mainstream rocket companies as an alternative to launch satellites into space. Parts of its rockets are reusable, which makes them less expensive to operate.