S&P has issued a report that said Venezuela was in default. According to Bloomberg:
Venezuela’s grand gathering with creditors Monday lasted all of 30 minutes and didn’t produce anything of substance. To make matters worse, S&P Global Ratings declared the country in default while Fitch Ratings cited missed payments by the state oil company.
AT&T Inc. (NYSE: T) believes the White House may be behind a government plan to block its takeover of Time Warner Inc. (NYSE: TWX). Bloomberg reports:
AT&T Inc. will try to dig into whether the White House influenced the Justice Department’s review of the company’s planned takeover of Time Warner Inc. if the government sues to block the deal, according to people familiar with the matter.
In the event of a trial over the $85.4 billion deal, AT&T intends to seek court permission for access to communications between the White House and the Justice Department about the takeover, said the people, who asked not to be named because the deliberations are private.
OPEC may expand its membership. According to CNBC:
United Arab Emirates Minister for Energy Suhail al-Mazroui said Tuesday there is “definitely” an appetite for non-OPEC members to join the 14-member cartel.
When asked whether the non-OPEC countries currently complying to the global supply cuts could eventually become official members of the cartel, al-Mazroui replied: “There is definitely a willingness and a wish to expand OPEC.”
The International Energy Agency says that electric car demand will soar in future decades. According to its 2017 Global Energy report:
A strengthening tide of industry initiatives and policy support pushes our projection for the global electric car fleet up to 280 million by 2040, from 2 million today.
Lord & Taylor will start to sell its inventory at Walmart.com. According to CNNMoney:
Walmart is about to up its fashion game — with a little help from Lord & Taylor.
The two retailers announced Monday that they’re teaming up to launch a “flagship” Lord & Taylor shop on Walmart.com.
An employee of Tesla Inc. (NASDAQ: TSLA) has accused it of racist behavior. According to Fortune:
A former Tesla employee is seeking an order against harassment at Tesla, calling the company’s production floor a “hotbed for racist behavior.”
The worker filed a suit against the company, claiming he was fired after complaining to Elon Musk, reported Bloomberg. He claims over 100 employees have experienced racial harassment at the electric car-making company.
In the complaint, the employee alleged black workers at Telsa suffer direct, sustained harassment. “Although Tesla stands out as a groundbreaking company at the forefront of the electric car revolution, its standard operating procedure at the Tesla factory is pre-Civil Rights era race discrimination.”