Tesla Unveils Its Car For The Masses

The Tesla CEO presented a prototype of the car he hopes will spur mass-market adoption of electric vehicles, the Model 3, at an event in California Thursday night. The company says the car will go from 0 to 60 miles an hour in under 6 seconds and has a range of 215 miles for every charge of the battery. The company said the Model 3 has [received more than 135,000 orders] in 24 hours, outpacing expectations. Sponsored by: EVERYTHING YOU NEED TO KNOW, RIGHT NOW. #IBTPulse --------------------------------------------------------------- [Elon Musk Unveils Tesla’s Model 3] The Tesla CEO presented a prototype of the car he hopes will spur mass-market adoption of electric vehicles, the Model 3, at an event in California Thursday night. The company says the car will go from 0 to 60 miles an hour in under 6 seconds and has a range of 215 miles for every charge of the battery. The company said the Model 3 has [received more than 135,000 orders] in 24 hours, outpacing expectations. [Markets Eye Jobs Report] Analysts expect that 210,000 new jobs were added to nonfarm payrolls in March, a slight decline from the 242,000 added in February. Wage growth is expected to come in at 0.2 percent from the previous month, a pickup from the surprise 0.1 percent drop in February. Labor market strength will be a key factor the Federal Reserve will consider when deciding whether to raise interest rates, so markets will be watching the data keenly. [Bad News Expected From BlackBerry] The Canadian smartphone maker is expected to report a $34.5 million loss for the fourth quarter, when it reports earnings before the markets open Friday. Analysts also forecast a loss of 9 cents a share, compared to a profit of 4 cents a share a year ago and sliding further from the 3 cents a share loss reported in the third quarter. Revenues of about $562 million are expected for the quarter, a fall of 14.9 percent from a year ago, but higher than the $548 million of reported revenues in the third quarter. [UK Scrambles For Tata Steel Buyers] British government ministers are [contacting private equity companies] and a metals firm, in a bid to find a buyer for Tata Steel’s U.K. business, which the Indian firm has put up for sale, putting thousands of jobs at risk. The U.K. government has [come under fire] for its handling of the crisis, in particular for [blocking moves to restrict cheap Chinese steel] being dumped on the European market, which has hurt Tata’s bottom line. HERE'S WHAT YOU MISSED LAST NIGHT. [Back Off, China Warns US] Chinese President Xi Jinping warned President Barack Obama that he would not accept U.S. incursions into contested waters in the South China Sea under the “disguise of freedom of navigation,” when the pair met on the sidelines of the Nuclear Security Summit in Washington Thursday. The U.S. regards the territory as international waters, and does not recognize China’s self-proclaimed "exclusion zone." [Anbang Drops Starwood Bid] China’s Anbang Insurance Group Co. has dropped its $14 billion offer for Starwood Hotels & Resorts Worldwide Inc., citing various market considerations Thursday and ending a bidding war between Anbang and Marriott International Inc. Starwood had agreed to a $13.3 billion cash-and-stock deal from Marriott earlier in March, only to be trumped a week later by a higher bid by Anbang. [Uber's Legal Woes Continue] A federal judge refused Thursday to dismiss an antitrust lawsuit against Uber CEO Travis Kalanick that alleges the algorithm used by the ride-hailing app lets drivers fix higher fares. The lawsuit is seeking class-action status on behalf of millions of U.S. Uber passengers. Uber uses a so-called surge pricing model, which can increase prices substantially at times when demand is high. [China’s Manufacturing Rebounds] China’s manufacturing sector returned to expansion in March — with government data published Friday coming in above expectations and another key index seeing its best performance for 13 months. Analysts said the figures suggested signs of a stabilization in the world’s second-largest economy — but also warned it was too early to read too much into the data, with other indicators still showing signs of contraction. AND THEN THERE'S THIS... [Putin On The Dating Scene?] Never mind the war in Syria or the simmering conflict in Ukraine – Russia-watchers were focused on one thing Thursday: rumors that President Vladimir Putin is dating Wendy Deng, the former wife of media mogul Rupert Murdoch. Since separating from his wife of 30 years in 2013, Putin has left a [paper trail from real estate deals] that offer a window into the women in his private life. [Pranksters Rejoice!] It’s April Fools' Day – a “holiday,” it’s fair to say, [not everybody loves]. If you’re the kind of person who likes pranking their friends and co-workers, [here are some ideas for you], and [some inspiration] to boot. If you would rather avoid the whole affair, find a quiet room and occupy yourself with one of our [best stories from this week], which is long enough to eat up a chunk of your morning. 7 Hanover Square, 5th Floor, New York, NY 10004 © 2015 IBT Media Inc. All Rights Reserved. Please add pulse@ibt-mail.com to your contacts [Unsubscribe] | [Privacy Policy]