Business Insider reported that Tesla's CEO Elon Musk asked engineers to halt putting Model 3 vehicles through a standard brake and roll alignment test before leaving the factory floor.
The federal investigation into Facebook's Cambridge Analytica scandal is expanding. AT&T raising prices on DirecTV Now by $5 a month. Trump’s shortlist for replacing Justice Anthony Kennedy's seat on the Supreme Court.
The e-cigarette company announced last week it was raising $1.2 billion, which would value it at $15 billion. Dan Primack, business editor at Axios, tells Cheddar that the "valuation is justified on the math," but questions the company's ethics. “Does it want to stop kids from getting these?”
The ride-sharing company is following rival Uber into the bike-sharing business, buying Motivate, the company that owns Citi Bike. The deal is estimated to be worth about $250 million and would give Lyft “exclusive rights” to contracts already existing in some cities, says Patrick Sisson, senior reporter at Curbed. Uber acquired electric bike company Jump Bikes earlier this year.
The SEC, FBI, and FTC are reportedly joining the Justice Department in investigating whether the social network withheld information about the Cambridge Analytica scandal. Shares of Facebook were down in early trade on Tuesday.
On Sunday, Elon Musk said the electric automaker produced 5,000 of the mass-market vehicles in the last week of June, finally hitting the target originally set for the third quarter of last year. A day later, the company announced its senior vice president of engineering Doug Field, who'd been on a leave of absence since May, had stepped down from his position.
The day the retail giant announced plans to acquire the online pharmacy company PillPack, competing retail pharmacy companies took a significant blow. Eight companies, including CVS and Rite Aid, dropped $17.5 billion in market cap in just one day.
The ride-sharing company announced plans to begin testing autonomous-vehicle operations, despite a fatal crash involving an Uber driverless car in Arizona back in March. “There are about 30,000 people that die in automotive crashes every single year and there is an expectation that this is a technology that could substantially reduce that number,” says Ben Fox Rubin, CNET News senior reporter.
The crowdfunding platform announced plans to help teams raise money in a more collaborative way. "We realized that market was under served," GoFundMe CMO Raquel Rozas tells Cheddar.
The scooter start-up reported on Thursday that it has raised $300 million. This is Bird's third round of funding this year, valuing the company at an estimated $2 billion. "We've never seen something grow so quickly with such high engagement," Dana Settle, founding partner, tells Cheddar.
A new California data privacy bill will require companies that store personal information to disclose what types of data they collect. The law also gives users the opportunity to opt out. "There's a certain point where this has maybe gone too far," Dave White, a former national counterterrorism center officer, tells Cheddar about companies collecting data.
