Tesla Inc.’s (NASDAQ: TSLA) Elon Musk addressed logistics issues. According to Reuters:
“Sorry, we’ve gone from production hell to delivery logistics hell, but this problem is far more tractable. We’re making rapid progress. Should be solved shortly,” Musk said in a tweet here in response to a customer complaint on delivery delay.
The head of Salesforce.com Inc. (NYSE: CRM) bought Time magazine. According to USAToday:
Time Magazine is being sold by Meredith Corp. to Marc Benioff, a co-founder of Salesforce, and his wife, it was announced Sunday.
Meredith announced that it was selling Time magazine for $190 million in cash to Benioff, one of four co-founders of Salesforce, a cloud computing pioneer.
Walmart Inc. (NYSE: WMT) has begun to do business in New York City after having been blocked for years. According to The New York Times:
On a bank of the Bronx River, below the roar of the Bruckner Expressway, Walmart has finally found a foothold in a city that has long shunned it.
Walmart’s e-commerce business, Jet.com, is leasing a 205,000-square-foot warehouse in the Bronx that will soon begin supplying MacBooks and organic eggs to New York’s well-heeled shoppers.
The physical presence is a victory for the nation’s largest retailer, which has faced resistance from labor groups and their political allies every time it has proposed opening a store in the five boroughs.
China’s stocks have been hammered particularly since trade tensions with the U.S. escalated According to Bloomberg, the Shanghai Composite hit its lowest level since 2014, which has shave $5 trillion off the value of the index.
Artificial intelligence will produce 60 million more jobs than it will kill by 2022. According to CNBC:
Machines will overtake humans in terms of performing more tasks at the workplace by 2025 — but there could still be 58 million net new jobs created in the next five years, the World Economic Forum (WEF) said in a report on Monday.
Developments in automation technologies and artificial intelligence could see 75 million jobs displaced, according to the WEF report “The Future of Jobs 2018.” However, another 133 million new roles may emerge as companies shake up their division of labor between humans and machines, translating to 58 million net new jobs being created by 2022, it said.
BMW has announced plans for self-driving vehicles. According to CNNMoney:
BMW has unveiled its vision for a self-driving electric crossover SUV and, if it actually ends up being a lot like the concept version, it should be a pretty cozy place to hang out.
The BMW Vision iNext is a concept vehicle for now. But BMW executives said they plan to put something like it into production in 2021.