Business week: increasing the pressure on Tesla
What’s new? (August 15-21)
Tesla under investigation
The country’s leading auto safety agency has announced the largest investigation to date into Tesla’s assisted driving technology, which it calls Autopilot, caused by at least 11 crashes in which Teslas crashed into vehicles. parked emergency vehicles. The agency is investigating more than two dozen accidents with the autopilot in use, which have killed at least 10 people. Despite the name, the feature does not make the Teslas stand-alone. Safety experts say it can encourage distracted driving by giving the wrong impression of one’s abilities.
Twenty-six years after Amazon sold its first book, it has overtaken Walmart in terms of total sales. The value of everything sold on Amazon, by it and its third-party sellers, exceeded $ 610 billion in the 12 months leading up to June, according to estimates compiled by FactSet. Walmart on Tuesday announced $ 566 billion in sales over a similar period. An increase in online shopping spurred by a pandemic has accelerated the timing of what many saw as an inevitable step. Even so, online sales still only account for 14% of overall retail spending.
Facebook trust issues
The Federal Trade Commission filed its antitrust lawsuit against Facebook on Thursday. The new complaint is more detailed and almost twice as long as the original, but the claim is the same: Facebook has a monopoly on social media that it has tried to maintain through acquisitions. In the past, monopoly power has often been measured by the impact on prices. A federal judge dismissed the FTC’s original Facebook case in June, highlighting the challenge of defining a monopoly when the product is free.
And after? (August 22-28)
Central bankers meet for their annual meeting in Jackson Hole, Wyo., Starting Thursday. The Federal Reserve has made important announcements at the event in the past, and many expect Fed Chairman Jerome H. Powell to reveal details on how and when the bank plans to start putting end of its bond purchase program, one of many policies. he created to reduce the economic impact of the pandemic. Minutes from the last Fed meeting showed officials generally agreed that they would soon meet their slowing bond buying standards, but they were still debating exactly when to start the so-called type.
UK travel restrictions
The UK will update its much criticized ‘traffic light’ system of travel restrictions in the event of a pandemic. As part of the system, residents traveling to “green list” countries do not need to self-quarantine on their return but are required to take coronavirus tests. Those returning from countries on the “Amber List,” which includes the United States, should be tested and, unless fully immunized with an approved vaccine, isolated for 10 days. People returning from ‘red list’ countries can only enter Britain if they have residency rights, and then must self-quarantine for 10 days in a government-approved hotel.
Start of the Paralympic Games
Tokyo continues to grapple with a high level of coronavirus infections and a low vaccination rate as it prepares for the start of the Paralympic Games on Tuesday. As with the Olympics, no spectators will be allowed at the games.
Retail sales fell in July, but the Delta variant isn’t to blame. Facebook is betting that you’ll want to attend virtual reality meetings. “Danger!” is looking for a permanent host again. And Pope Francis called being vaccinated “an act of love.”