According to research firm CoreLogic, the California wildfires threaten 172,000 homes, with total value of $65 billion.
Elon Musk’s SpaceX took another step to becoming America’s premier commercial rocket company, as one of its rockets posted another successful flight. According to Bloomberg:
Elon Musk’s Space Exploration Technologies Corp. successfully launched another reused rocket from Kennedy Space Center in Florida as it continues its mission to drive down flight costs through refurbishment and reusability.
The launch, SpaceX’s 15th this year, carried a high-powered communications satellite for customers EchoStar Corp. and SES SA to geostationary transfer orbit.
Bitcoin value rose above $5,100 on rumors China may kill its ban on the currency. According to CNBC:
Investors appear to have shrugged off much of the negative news from regulators around bitcoin.
Last month, Chinese regulators banned cryptocurrency exchanges with some of the largest in the country shutting down operations. The government also banned initial coin offerings (ICOs), a way for cryptocurrency start-ups to raise money through issuing tokens.
But reports have emerged in the last few days that trading in the world’s second-largest economy could resume. A report by Cryptocoinnews.com, citing Chinese state-owned news company Xinhua, said that bitcoin trading will likely resume with more regulation. This could include new licensing and anti-money laundering regulations to be implemented by exchanges.
AT&T Inc. (NYSE: T) disclosed in an SEC filing that natural disasters had hurt its financials;
Several devastating hurricanes, as well as earthquakes in Mexico, significantly impacted certain regions of our service area during the third quarter. Damage to our network and other property, costs to restore services, and revenue declines from waived charges will decrease our reported third-quarter 2017 consolidated revenues nearly $90 million and our reported pre-tax earnings about $210 million, or $0.02 per diluted share. We expect further reductions in the fourth quarter as we continue to assess damage to our network and fully restore service.
FranceInfo reports Paris may ban gasoline-powered cars soon. Via Google Translate:
After announcing the end of the diesel cars in 2024 , the mayor of Paris wants to prohibit gasoline cars in the capital in 2030. It is in steering committee of the city’s climate plan, Wednesday 11 October, that the 70 representatives of the various political groups have discovered the measure, new floor in the rocket plan of climate in Paris , which intends to limit the place of the car in town.
Coach Inc. (NYSE: COH) is changing its name to Tapestry. The name change will be official at the end of the month, and the move is meant to be more inclusive of its other brands and to attract younger shoppers. The luxury goods maker also will be changing its ticker symbol on the New York Stock Exchange to TPR.