1. BMW: – BMW remains on course to meet its profit targets for 2021 despite rising raw material costs, though the global chip shortage will worsen and may hit production in the second quarter, the German carmaker said on Friday.
Most of the auto industry has been hit by a global semiconductor chip shortage, forcing many assembly plants to shut, driving down inventories and pushing up prices for both new and used vehicles.
“We cannot assume that we will emerge from the second quarter unscathed,” Chief Executive Officer Oliver Zipse said.
2. TWITTER: – Twitter Inc (NYSE:TWTR) suspended several accounts this week that were set up to share statements from a new part of former U.S. President Donald Trump’s website, saying they broke its rules against evading an account ban.
Trump was banned from Twitter, where he had more than 88 million followers, and multiple other social media platforms following the deadly Jan. 6 siege of the U.S. Capitol by his supporters.
On Tuesday, a page was added to Trump’s site, dubbed “From the Desk of Donald J. Trump,” where he posts messages that can be shared by his audience to both Twitter and Facebook.
“As stated in our ban evasion policy, we’ll take enforcement action on accounts whose apparent intent is to replace or promote content affiliated with a suspended account,” a Twitter spokesman said in a statement.
3. TESLA: – Tesla (NASDAQ:TSLA) Inc told a California regulator that it may not achieve full self-driving technology by the end of this year, a memo by the California Department of Motor Vehicles (DMV) showed.
Tesla CEO Elon Musk said during an earnings conference call in January that he was “highly confident the car will be able to drive itself with reliability in excess of human this year.”
Tesla has also rolled out what it describes as a “beta” version of its “full self-driving” (FSD) program to a limited number of employees and customers since October, and Musk has touted the capability on Twitter.
“Elon’s tweet does not match engineering reality per CJ. Tesla is at Level 2 currently,” the California DMV said in a memo about its March 9 conference call with Tesla representatives, including autopilot engineer CJ Moore. Level 2 technology refers to a semi-automated driving system, which requires supervision by a human driver.
4. EBAY: – Jamie Iannone, the President and CEO of eBay, says that the American multinational e-commerce company is considering accepting crypto for payments on its platform.
During an interview with CNBC’s Squawk on the Street”, he was asked about eBay’s approach to cryptocurrencies.
“One of the great things about our managed payments is we’re expanding the types of payments that we take. We now take Apple Pay and Google Pay, more choice for buyers. We’ll continue to look at other options like cryptocurrency.
5. EXXON: – The governor of Texas in an unusual move on Thursday asked the state’s Supreme Court to accept an Exxon Mobil Corp (NYSE:XOM) petition seeking to reverse a state court decision in a climate change case.
California municipal officials sued Exxon and other energy companies in 2017 seeking damages for rising sea levels they blamed on fossil fuel emissions, prompting a countersuit from the oil major in Texas. A Texas appeals court rejected Exxon’s effort to depose California officials, leading to the oil company’s state Supreme court petition.
Texas Governor Greg Abbott in a friend of the court filing urged the state justices to accept Exxon’s petition in a case with “major implications for the energy industry in Texas.”
Abbott, who as the state’s attorney general sued the federal government 31 times, said the state appeals court decision contradicts federal rulings.