Business

Tesla is heading for a cash crunch

“WE ARE sad to report that Tesla has gone completely and totally bankrupt.” So tweeted Elon Musk, boss of the electric-car company, on April 1st. He even posted a picture of himself supposedly drunk and inconsolable as proof. It was meant as an April Fool’s Day joke, but the gag backfired. It is uncomfortably close to the truth. America’s leading ...

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Spotify makes its stockmarket debut

WHEN Spotify, a music-streaming service, went public on April 3rd, its founder, Daniel Ek, rang no bells on the trading floor of the New York Stock Exchange. Rather than the “pomp and circumstance” of an initial public offering, the Swedish firm, which is widely credited with turning round the fortunes of the music industry, opted for an unusual direct listing. ...

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Fears of trade war send oil prices sharply lower

April 4 (UPI) — Fears of a trade war between the largest economies in the world, China and the United States, sent crude oil prices following stock futures lower on Wednesday. The Chinese government said Wednesday it introduced a list of U.S. products worth $50 billion in imports that would be the subject of stiff tariffs. The Chinese Ministry of ...

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Asia’s small open economies may suffer in America’s trade war

CHINA is the stated adversary in Donald Trump’s incipient trade war. But 30% of the value of the goods China exports to America is added elsewhere. If the row escalates, countries entwined in Chinese supply chains will suffer. Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor’s Picks. In absolute terms, Japanese suppliers will fare ...

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The average American is much better off now than four decades ago

JUST how bad have the past four decades been for ordinary Americans? One much-cited figure suggests they have been pretty bad. The Census Bureau estimates that for the median household, halfway along the distribution, income has barely grown in real terms since 1979. But a recent report by the Congressional Budget Office (CBO), a non-partisan think-tank, gives a cheerier rise ...

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