Money

Tesla Model 3 draws lines to dealerships a day before unveiling

Elon Musk: Model 3 ‘will eventually be made in China’ The Model 3 has drawn eager buyers to Tesla stores more than a day before the electric car will be unveiled. Tesla (TSLA) will start accepting $ 1,000 reservation deposits for its mid-priced Model 3 when stores open Thursday morning, though buyers won’t get their first glimpse of the car until 11:30 pm ET on Tesla’s website. That’s also when customers can begin placing orders online. Tesla CEO Elon Musk said on Twitter (TWTR, Tech30) that Thursday evening will be ...

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14 million Americans live in extremely poor neighborhoods

Jay-Z: We all must fight poverty Nearly 14 million Americans are living in extremely poor neighborhoods, more than twice as many as in 2000, a new report has found. The economic downturn in the early 2000s, which was followed by slow job growth and then the Great Recession, sent the poverty rate soaring. The growing concentration of poverty is closely linked to the availability of affordable housing, the report from Brookings Institution’s Metropolitan Policy Program found. In 2000, there were just over 2,000 Census tracts with concentrated rates of poverty ...

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Chapter Five: Knocking on the psychic's door

  Even after all the discoveries we’ve made about the mysterious French psychic Maria Duval, there’s only one way to end this hunt. We need to solve the mystery of the woman herself. Was she really hired to be the face of this massive mail scheme as we’ve been told? If so, how much money has she gotten from it? Is she even still involved? New to the investigation? Read it from the beginning We’ve been consumed for months by our search for Duval, who is the face and name ...

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Get ready for a Zuckerberg reality show

Zuckerberg gets a reality TV show You want a Zuckerberg to invest in your startup? Here’s your chance. Mark Zuckerberg’s sister Randi, who founded online community Dot Complicated and Zuckerberg Media, is an angel investor on a new reality show called “Quit Your Day Job.” The eight-episode series, which premieres Wednesday on Oxygen, features millennial entrepreneurs who are competing to win seed money from a panel of four investors. But unlike ABC’s “Shark Tank,” all four investors have to agree before the entrepreneur gets the money. Three of the four ...

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Obamacare patients sicker and pricier than expected

How to get health care like a billionaire Patients in Obamacare are sicker and need significantly more medical care than those in employer-sponsored plans, according to a new Blue Cross Blue Shield Association report. This raises fresh concerns about the possibility of steep rate hikes for 2017 and of insurers leaving the Obamacare exchanges. The study, the first of its kind to look at millions of enrollees across the country, found that Obamacare members have higher rates of costly illnesses such as diabetes, depression, hypertension, heart disease, HIV and Hepatitis ...

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Boeing is cutting 4,000 jobs

Iran’s plan to rebuild its airline industry Boeing has announced it will cut 4,000 jobs to reduce costs as it battles rival Airbus and softer demand for aircraft. The aircraft maker said it should be able to achieve the job reductions, equal to about 2% of its worldwide staff, through normal attrition, voluntary buyouts and leaving open positions unfilled. “We’ll only use involuntary layoffs as a last resort,” said spokesman Doug Adler. Last month the company announced a plan to save money by cutting non-labor spending, supply chain costs and ...

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Cheap Chinese steel has claimed another victim

China produces half of the world’s steel. It’s the latest sign that cheap steel from China is crushing foreign competitors. India’s Tata Steel said Wednesday that it’s been forced to explore a sale of its U.K. operations due to plummeting prices. Market conditions in the U.K. and Europe have “rapidly deteriorated” in recent months, Tata said, due to oversupply of steel, high manufacturing costs and a “significant increase in third country exports.” China produces half of the world’s steel, more than the United States, the European Union, Russia and Japan ...

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Burger King's newest burger is red hot

We blended burgers…for science Burger King’s newest creation is all about spice. The fast food giant’s latest burger, dubbed “The Angriest Whopper,” has hot sauce baked into its buns, which are even colored red to match the extra heat. Beyond the bun, the burger includes beef, bacon, American cheese, lettuce, tomatoes, onion petals, mayonnaise, and — for extra heat — jalapenos and a spicy sauce. The burger, which is the sequel to the chain’s “Angry Whopper,” is not the friendliest option for calorie counters. The new offering boasts 830 calories, ...

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This company is making the Holy Land's first single malt whisky

Israel gets into the whisky business As global demand for whisky booms, one small Israeli distillery is getting into the game as the only place in the Holy Land to produce a single malt. Tel Aviv’s new Milk & Honey distillery is currently maturing its first batch of whisky, even though owner Gal Kalkshtein says there aren’t enough drinkers in the country to support sales. Milk & Honey’s first production batch of one million bottles will mostly be shipped overseas to the U.S., he said. “We want people who love ...

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