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Tesla warns on Q4 profit, cutting jobs to pull down Model 3 price

“Musk said the 4% profit the company made in Q3 was due to sales of higher-priced Model 3 variants in North America” writes Markets Reporter for marketwatch.com. However, “in Q4, preliminary, unaudited results indicate that we again made a GAAP profit, but less than Q3,” he said.Electric-car maker Tesla Inc. will cut approximately 7% of its full-time workforce and warned that Q4 profit won’t meet the performance of Q3, CEO Elon Musk said in an update Friday.That Q3 profit surprised most analysts. “This quarter, as with Q3, shipment of higher-priced…

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Tesla to cut jobs by around 7%, says CEO Elon Musk

“Musk spoke of a “difficult” road ahead and said the company was targeting a small profit for the upcoming quarter” writes Markets Reporter for marketwatch.com. TSLA, +0.36% will cut “approximately” 7% of its full-time workforce, said Chief Executive Officer Elon Musk in an update on the company’s blog Friday that was emailed to all employees.He said the 4% profit the company made in the third quarter was due to sales of higher-priced Model 3 variants in North America.”In Q4, preliminary, unaudited results indicate that we again made a GAAP profit,…

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How have his first two years marked five key policy areas?

“The proposed reversal is just the latest in a list of about 80 environmental rules either dismantled or slated for abolition by the Trump administration” writes Oliver Milman for theguardian.com. There are some themes, however, that make foreign policy in the age of Trump quite different in character from any previous administration.Even with the unarguably impressive improvements under Trump, he has a way to go before he can fulfil his promise of being “the greatest jobs president that God ever created”.Trump’s single biggest policy achievement is the $1.5tn tax cut…

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Pro.com raises $33 million to match home renovators with general contractors

“Pro.com matches remodelers with general contractors, who facilitate jobs and keep in touch throughout the process” writes Kyle Wiggers for venturebeat.com. And if you’re not, botched jobs and construction delays can turn a straightforward remodel into a renovation from hell.Home improvement is easier said than done, depending on the complexity of the job at hand. Source: venturebeat.com

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Mining powerhouse Vale launches artificial intelligence center

“South American firm Vale, one of the world’s largest mining companies, has opened an artificial intelligence (AI) center at its Tubarao site in Vitoria, Brazil” writes Giles Barnard Construction for cnbc.com. If mining became more efficient, Gradl added, then commodity prices could remain stable and would not necessarily need to rise and fall.”If we make mining more efficient, people who work in mining should have safer jobs and more long-term jobs, because if you do efficient mining you can also extend the life of a mine,” Gradl told CNBC last…

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Nokia to shed 350 jobs in Finland as part of cost cuts

“Nokia announced its latest cost cutting plan in October, without spelling out the impact on jobs” writes unknown author for cnbc.com. Finnish telecom equipment maker Nokia is cutting 350 jobs in Finland as part of its plans to find savings worth 700 million euros ($800 million) by next year.It is also still to complete a 1.2 billion euro program of cost cuts, launched after its 2016 acquisition of Franco-American Alcatel-Lucent.Nokia and Ericsson could eventually benefit from curbs on Huawei equipment by the U.S. and some of its allies but so…

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Alaska Air to add thousands of jobs in 2019

“Alaska Air Group plans to add just over 3,000 jobs in 2019, mostly front-line positions across Alaska Airlines and Horizon Air, with three quarters of the jobs in Washington state” writes Seattle Times Aerospace for seattletimes.com. Alaska Air Group said Monday it plans to add just over 3,000 jobs in 2019, mostly front-line positions across Alaska Airlines and Horizon Air, with three quarters of the jobs in Washington state.That includes not only jobs at the airline and at vendors that supply the airline but also at local businesses supported by…

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Job openings fall to lowest level since early summer, but not because companies don’t want to hire

“The numbers: The number of job openings in the U.S. fell in November to the lowest level since early summer, but companies say one of their biggest hurdles is a lack of qualified applicants and not an unwillingness to hire” writes Jeffry Bartash for marketwatch.com. The labor market remains on fire despite somewhat fewer job openings.What happened: Job openings declined in most segments of the economy, including a 45,000 drop in help-wanted ads for construction workers. Source: marketwatch.com

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