Benjamin Zhang/Business Insider Electric-car maker Tesla may be close to making the final arrangements with the city of Shanghai for a car factory in the Chinese market, Bloomberg reported on Tuesday. An agreement with the city could be official as early as this week, Bloomberg said, citing "people familiar with the matter." Making vehicles in China could help Tesla significantly. Here's why. Eliminating tariffs Tesla CEO Elon Musk has been vocal about the company's plans to eventually launch a factory in the important market for some time now. For instance, in an October 2015 tweet, Musk said a China factory could come as soon as 2018. He has emphasized on several occasions that the China-based factory would be built for local demand. Building and delivering cars in China comes with a key
Courtesy Casamigos George Clooney created a tequila company on a whim and now it's being sold for $1 billion, CNBC is reporting. The idea behind Casamigos, the brainchild of Clooney and his two friends, Rande Gerber (Cindy Crawford's husband), and Michael Meldman, was born when Clooney and Gerber bought neighboring properties in Mexico and got into drinking tequila. They got so into the drink they decided to create their own, Clooney told CNBC. "Our idea was to make the best-tasting, smoothest tequila whose taste didn’t have to be covered up with salt or lime," the founders claim on their Facebook page. Initially, the spirit was only made for their own consumption but after two years the distillery said that they had ordered so many "samples" that they would now need to have the drink lic
Banks want Etisalat investigated By Florence Onuegbu and Chinyere Joel-NwokeomaStrong indications emerged on Wednesday that consortium of 13 banks, involved in Etisalat Nigeria’s 1.2 billion dollar loan is seeking the Federal Government’s intervention to investigate the management. A management source close to the banks told the News Agency of Nigeria (NAN) in Lagos that the banks want the government, through the EFCC, to wade into the matter, by investigating what the company did with the loan. The source alleged that the loans were siphoned and needed to be investigated by the EFCC, noting, there was no proof of what the company did with the loan. He said that the affected banks had rolled out a lot of viable options to Etisalat for the loan to be restructured, but was rejected by the co
Karen Handel AP Photo/David Goldman Republican Party luminaries congratulated Karen Handel on her win in the closely-watched special election in Georgia's 6th Congressional District on Tuesday night. "Congrats to Karen Handel on HUGE win in GA," read a message from President Donald Trump's campaign. "Democrats lose again (0-4). Total disarray." Trump and Vice President Mike Pence released separate statements congratulating Handel: Trump said: "Congratulations to Karen Handel on her big win in Georgia 6th. Fantastic job, we are all very proud of you!" And Pence chimed in: "Congrats Karen Handel! Great campaign & great victory! With @realDonaldTrump in the White House & you in Congress, we will #MAGA!" Republican House Speaker Paul Ryan added: "Congratulations to Karen Handel on a ha
Someone earning $50,500 a year in Los Angeles County is now considered low-income.blvdone/Shutterstock American household debt totaled a record $12.73 trillion as of March 2017, so cost of living concerns are more pertinent than ever. Americans have high expectations for their standard of living, but the price of sustaining those expectations can be steep — and it's rising in certain parts of the country much more than others. GOBankingRates conducted a study to identify which cities have seen the largest cost of living increase over a one-year period from 2016 to 2017. The study evaluated U.S. cities based on two principal metrics: The increase in its cost of living index, which includes food, rent, utilities and transportation. The increase in the amount of income required to "live comf
U.S. Navy F/A-18E Super Hornet launches from the flight deck of the aircraft carrier USS Dwight D. Eisenhower in the Mediterranean Sea Thomson Reuters US pilots over Syria will defend themselves if attacked by Russians, a Pentagon spokesman said Monday, following a report that Russia will treat U.S. or coalition aircraft as targets if they fly over areas in western Syria controlled by Russia. The Russian Defense Ministry made the threat Monday after a U.S. F/A-18E Super Hornet shot down a Syrian Su-22 after that plane bombed US-backed Syrian Democratic Forces that are working with the US to defeat the Islamic State on Sunday. "Any aircraft, including planes and drones of the international coalition, detected in the operation areas west of the Euphrates River by the Russian air forces will ...
Shutterstock/TK Kurikawa Melbourne and Sydney have both been rated as global elite cities in A.T. Kearney's Global Cities 2017 report. The report's Index ranks the world's most influential cities and, in an Outlook report, those likely to become more important on the global stage. Melbourne is on the move and is rising faster on the global rankings than Sydney. The Victorian state capital jumped nine places to rank sixth in this year's Outlook, the highest ranking the city has achieved since the Outlook launched three years ago and well ahead of Sydney at 13th. The Outlook ranks cities in terms of their future potential, scoring on metrics across four key areas: personal well-being, economics, innovation and governance. Here are the global city outlook rankings: A.T. Kearney's Melbourne's ...
Puerto Rico Governor Ricardo Rossello celebrates the results of a referendum on the status of the island, next to Congresswoman representing Puerto Rico Jennifer Gonzalez, left, at the New Progressive Party headquarters in San Juan, Puerto Rico, Sunday, June 11, 2017. Associated Press/Carlos Giusti On Sunday, 23 percent of Puerto Rico’s eligible citizens went to the polls, and 97 percent of them voted to make Puerto Rico America’s 51st state. That’s about half a million people . The vote was nonbinding, and because of the low turnout, it might not be enough to persuade Congress to convert Puerto Rico from a commonwealth to a state. Puerto Rico will be holding another vote on the issue in October and hopes for a larger turnout. One of the things that would change if Puerto Rico were to beco
Beyoncé. Cathal McNaughton/Reuters LOS ANGELES (Reuters) - U.S. singer Beyonce has given birth to twins in Los Angeles, several celebrity news websites reported on Saturday, citing unidentified sources. Beyonce, 35, and rapper and music producer Jay Z, already have a five-year-old daughter, Blue Ivy. E! News, citing multiple unidentified sources, reported the birth and that Jay Z and Blue Ivy were seen at a Los Angeles area hospital on Thursday. Us Weekly, also citing multiple unidentified sources, reported that the couple welcomed twins earlier this week. "Bey and Jay are thrilled and have started sharing the news with their family and closest friends," one unidentified source told PEOPLE. Reuters could not verify the reports. A representative for Beyonce did not respond immediately to a
It plugs in!Cadillac Cadillac rolled out the CT6 to much fanfare at a spectacularly ambitious party at the 2015 New York auto show. A year later, the full-size sedan — Cadillac's "flagship" vehicle — hit dealerships. Just in time for consumer tastes to shift decisively toward luxury crossovers and SUVs. Caddy sells those, too, so the CT6's sluggish debut isn't a huge deal. Besides, every other luxury brand is in the same boat. BMW, Mercedes, Audi, Lexus, Jaguar, Volvo, Acura, Lincoln, Infiniti and even Maserati and Alfa Romeo are selling sedans when the market is saying "No thanks" and gobbling up crossovers. Cadillac's new XT5 crossover, for what it's worth, has been wildly successful. It's now moving 6,000 units a month, in less than a year of being on sale. We sampled the CT6 last yea
Fashola(centre), Makanjuola(2nd right) and NPA MD, Hadiza Bala Usman at the MoU signing for Apapa Wharf Road rebuilding By Grace AlegbaThe Minister of Power, Works and Housing, Mr Babatunde Fashola on Saturday signed a N4.34 Billion Memorandum of Understanding (MoU) with Dangote Group and other stakeholders for the rebuilding of Apapa Wharf Road. The project is to be funded by AG Dangote Construction Company Ltd, an arm of the Dangote Group, the Nigerian Ports Authority (NPA) and Flour Mills of Nigeria. The road was handed over to the stakeholders for commencement of reconstruction works after the agreement was signed in Lagos. Fashola explained that the gridlock in Apapa became compounded and had reached an unbearable level as transporters ignored the old system of moving cargo through r
The giant rift in Antarctica's Larsen C ice shelf, as seen in November 2016. John Sonntag/IceBridge/NASA Goddard Space Flight Center A block of ice about the size of Delaware could break off of Antarctica "within days," researchers suggest. And a new animation shows just how close the humongous iceberg is to calving. Antarctica's Larsen C ice shelf — one of the largest such shelves in the southern continent — began developing the crack in 2010. That rift lengthened and widened over the years, but has grown most rapidly since 2016. In early June, new satellite images showed the rift had split, turned north, and begun moving toward the Southern Ocean. Now Adrian Luckman of Swansea University in the UK, who is closely monitoring Larsen C with his colleagues, has released a new animation of th
U.S. Attorney for the District of Maryland Rod J. Rosenstein speaks at a news conference in Baltimore, Wednesday, March 1, 2017, to announce that seven Baltimore police officers who worked on a firearms crime task force are facing charges of stealing money, property and narcotics from people over two years. AP Photo/Patrick Semansky Deputy Attorney General Rod Rosenstein issued a stunning statement Thursday night that appeared to be a rebuke of intelligence leaks roundly criticized by President Donald Trump and Republicans at large. The statement said Americans should think twice "before accepting as true any stories attributed to anonymous 'officials.'" "Americans should be skeptical about anonymous allegations. The Department of Justice has a long-established policy to neither confirm no
Flickr/Tim Regan The to-do list and the calendar are like square pegs and round holes. With the rare (or deadline-driven) exception, the time spent completing a task doesn’t fit into polite half-hour chunks. My expectation used to be that I could just drop tasks into my calendar, with the guarantee that those things would get done in the precisely allotted amount of time. Then I realized that you can’t really schedule tasks at all. This insight came courtesy of Georgia Tech organizational psychologist Howard Weiss, who I saw present at this year’s Association for Psychological Science conference in Boston. H e’s come up with a better way to think about our time and productivity. To Weiss, the chunks of time you spend working on things are called performance episodes. They are bounded by ti
The rules were introduced last year as the department was processing claims from students who say there were defrauded by for-profit colleges. Thomson Reuters WASHINGTON (AP) — The Education Department announced Wednesday that it will change two key Obama-era rules governing student loan forgiveness in cases involving fraud and misconduct by universities. The department said it will convene special committees to rewrite Borrower Defense to Repayment and Gainful Employment regulations. The rules were introduced last year as the department was processing claims from thousands of students who say there were defrauded by for-profit colleges. Under the borrower defense rules, students could have their loans erased if their college misrepresented the quality of its programs or broke a "contractu
Astral Tequila The actor known globally as "the most interesting man in the world" is returning to advertising after a year-long hiatus — and now he's shilling for a new alcohol brand. Jonathan Goldsmith, 78, rose to fame as the spokesman for the beer brand Dos Equis, known for his TV-ad tagline, "I don't always drink beer, but when I do, I prefer Dos Equis." Since his debut as the face of the brand in 2007, Goldsmith has become something of a cultural icon. He helped Dos Equis nearly triple its business since the campaign was introduced, according to USAToday. But his contract with Dos Equis ended last year after the beer brand decided it was time for a new spokesman. The company hired a younger "most interesting man" in his place. Goldsmith in an ad for Dos Equis. Dos Equis Now Goldsm
Britain's Prime Minister Theresa May (L) and France's President Emmanuel Macron meet at The Elysee Palace in Paris on June 13, 2017 © AFP CHRISTOPHE ARCHAMBAULT Paris (AFP) - French President Emmanuel Macron said Tuesday the door was "always open" for Britain to remain in the EU even after Prime Minister Theresa May said Brexit talks would begin next week. "Of course the door is always open as long as the negotiations on Brexit have not finished," Macron said in a press conference. But he stressed that the British people had taken the sovereign decision to leave the 28-member bloc in their referendum a year ago, adding that the start of talks was an important milestone. "Once it (the Brexit process) has started we need to be collectively clear that it's more difficult to reverse course," h
Bloomberg/Getty Images Thomson Reuters, one of the largest providers of financial data, announced on Tuesday a partnership with a Silicon Valley messaging startup. Users of Eikon, Thomson Reuters' software platform of financial data, news, and analysis, will now have the option to send messages via Symphony, a message application for financial services professionals, akin to Slack, a cloud-based message app. The service is set to launch later this year, according to a news release. Deb Walton, global managing director of customer propositions at Thomson Reuters, told Business Insider that the partnership reflects the firm's desire to break down barriers to communication for their clients. She said many of Thomson Reuters clients use Symphony. In total, the startup has seen its customer bas...
Osinbajo signs the 2017 Appropriation Law, with Abba Kyari, Chief of Staff to the President, Udoma Udo Udoma, Minister of Budget and Planning, Senator Ita Enang, Senate President Bukola Saraki and Yakubu Dogara, the Speaker House of Representatives REMARKS BY AG. PRESIDENT YEMI OSINBAJO, SAN, AT THE SIGNING OF THE 2017 APPROPRIATION BILL INTO LAW ON MONDAY 12TH JUNE 2017 AT THE PRESIDENTIAL VILLA, ABUJA. A few minutes ago, I signed the 2017 Appropriations Bill into law. This is an important milestone in our economic recovery and Growth plan laid in April by President Muhammadu Buhari. I would like to express my appreciation to the Senate President, the Speaker of the House of Representatives, as well as the entire leadership and members of the National Assembly for completing work on t
Oli Scarff/Getty Images They say human beings have short memories, but this is outright amnesia. Donald Trump and the Republican Party’s efforts to dissolve many of the new regulations imposed on major Wall Street banks in the wake of the worst financial crisis are most stunning because they ignore such glaring and recent lessons. These include: 1. bank self-regulation ends in tears since the crisis was caused by a lax enforcement of rules, not an excess of them; and 2. bankers will push financial risk to the limit if they know taxpayers will bail them out regardless. "There are few precedents in modern political history for such a rapid and fundamental reversal of course," writes Paul Lee, a regulation lawyer at Debevoise & Plimpton LLP and a member of the adjunct faculty of Columbia