Markets
Tesla says failed battery module sparked Shanghai car fire
The investigation found no systematic defect, and the initial results show that this unique incident was caused by a single battery module fault located at the front of the vehicle, Tesla said. The National Highway Traffic Safety Administration is probing the Davie fire, while the National Transportation Safety Board is investigating blazes in West Hollywood and Mountain View, Calif. [Full Article...]
Instant View: USDA Corn Acreage Estimate Exceeds Trade Expectations
Forecasters expect above normal temperatures and below normal precipitation across much of the USA farm belt over the next 10 days. "Plants need sunlight, warmth and water, and they've gotten a lot of one but not the others". wheat in the week to June 20 at 612,000 metric tons, topping a range of trade expectations. That compares to the government's March forecasts of 92.8 million corn acres a... [Full Article...]
Corona maker Constellation Brands beats quarterly sales estimates
The stock has a 50-day moving average of $192.17. During the same period in the prior year, the firm posted $1.90 earnings per share . Constellation Brands posted a 2% rise in net sales to just under $2.1 billion for the three months ended in May, and operating income for the first quarter was flat at $623 million. [Full Article...]
Work at United Kingdom plant depends on Brexit deal | AP business — Carmaker PSA
Some pro-European Union lawmakers in the British parliament will seek next week to block a no-deal Brexit by cutting off some of the government's funding, The Sun newspaper reported. A Unite union spokesman, said: "PSA have made it very clear that no deal means no deal for Ellesmere Port". The union's assistant general secretary Steve Turner added: "A no-deal Brexit would be catastrophic for peo... [Full Article...]
New mobile phone switching rules come into effect on Monday
It should be networks' best interests to make switching as easy as possible. The PAC process worked but some people were caught out by delays and additional charges during the notice period (i.e. The customer then gives the code to their new provider, and this company must arrange for the switch to complete within one working day. Providers would also be required to publish and promote clear... [Full Article...]
Singaporean crypto exchange Bitrue gets hacked, loses $4.3 million in XRP, ADA
This will likely last between 15-18 hours, after which Bitrue is likely to either reopen trading as usual or issue a further statement about a plan of action. Early this year, Bitrue said it was also affected by a 51-percent attack on the ethereum classic cryptocurrency in which a hacker had tried to withdraw 13,000 ETC but claimed the attempted theft had been stopped by its system. [Full Article...]
Craig Wright Unable to Access Bitcoin Fortune, Says Bloomberg Report
Kleiman and Wright used to be business partners, according to the estate's lawsuit. Ira is suing for half of the collective stockpile which Wright has alleged is inaccessible due to a complicated encryption scheme. This is a pattern Wright is reported to have repeated throughout the hearing. Wright attended mediation in Florida in mid-June, but the "case did not settle", according to a court... [Full Article...]
New Jersey tops Nevada in sports betting volume in May
But don't put a victory sign on the Atlantic City Expressway just yet. This means that since legalizing the activity, there have been nearly $3bn worth of sports bets placed in the state. New Jersey would then take its first sports bet in June 2018. PASPA, the law that was struck down a year ago, was the Professional and Amateur Sports Protection Act of 1992. [Full Article...]