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Elon Musk long promised that Tesla would offer a low-cost Model 3 electric car. Yesterday, he finally made good on that promise — but Tesla is making big sacrifices to offer the vehicle.
What ,000 gets you is a Model 3 that can cover 220 miles before needing a charge, along with a cheaper interior than higher-priced versions. The new Model 3 is expected to start shipping in two to four weeks.
Tesla expects to sell a lot of them. The announcement led Mr. Musk to raise production estimates to 600,000 cars in 2019.
But it will probably post a loss this quarter. Mr. Musk wouldn’t reveal what kind of margins the company would make on its lowest-priced Model 3. But he admitted, “Given that a lot is happening in Q1, we do not expect to be profitable in the first quarter.”
And the company will change its business model. Tesla will only take orders online, close some of its showrooms and lay off employees to save money. “There’s no other way for us to achieve the savings for this car,” Mr. Musk said.
Shareholders are worried. Tesla’s stock fell 3 percent in after-hours trading. Liam Denning of Bloomberg Opinion argues that’s “because this crowning moment came with more than a hint of a gamble.”
More: Mr. Musk hired a new law firm to defend him against the S.E.C.’s attempt to hold him in contempt of court.
President Trump and his top economic advisers have sent a series of conflicting messages about the status of trade talks with China, Alan Rappeport and Ana Swanson of the NYT write.
• “We’re heading for a historic deal,” Larry Kudlow, director of the National Economic Council, said in an interview on CNBC yesterday. “The outlook for a deal is very positive.”
• “We are well on our way to doing something special” with China, Mr. Trump told reporters yesterday.
• But “I am always prepared to walk. I’m never afraid to walk from a deal,” he added. “I would do that with China, too, if it didn’t work out.”
• And “much still needs to be done both before an agreement is reached and, more important, after it is reached, if one is reached,” Robert Lighthizer, Mr. Trump’s top trade negotiator, told House lawmakers on Wednesday.
A final deal is being prepared according to Bloomberg, citing unidentified sources. Mr. Trump and President Xi Jinping of China could sign it within weeks.
But it may not go far enough. “We don’t look at all close to meaningful, enforced provisions on intellectual property,” Derek Scissors, a resident scholar at the American Enterprise Institute, told the NYT.
And Mr. Trump has proved he will walk. After he abandoned peace talks with Kim Jong-un of North Korea yesterday, concerns that the president might settle for a poor deal now appear diminished. If he doesn’t like the terms of a China deal, the trade war could continue.
More: The U.S. plans to take a hard line in negotiations with Britain over post-Brexit trade.
Some of the world’s biggest internet messaging companies hope to succeed where cryptocurrency start-ups have failed by introducing consumers to the world of digital coins, Nathaniel Popper and Mike Isaac of the NYT report.
“The most anticipated but secretive project is underway at Facebook. The company is working on a coin that users of WhatsApp, which Facebook owns, could send to friends and family instantly, said five people briefed on the effort who spoke on the condition of anonymity because of confidentiality agreements.”
“The Facebook project is far enough along that the social networking giant has held conversations with cryptocurrency exchanges about selling the Facebook coin to consumers, said four people briefed on the negotiations.”
Other platforms are working on similar initiatives. “Telegram, which has an estimated 300 million users worldwide, is also working on a digital coin. Signal, an encrypted messaging service that is popular among technologists and privacy advocates, has its own coin in the works. And so do the biggest messaging applications in South Korea and Japan, Kakao and Line.”
“The new cryptocurrencies would make it easier to move money between countries,” Mr. Popper and Mr. Isaac write. “But the messaging companies are likely to face many of the same regulatory and technological hurdles that have kept Bitcoin from going mainstream.”
The American economy slowed at the end of 2018. But there may be worse to come.
Gross domestic product growth slowed at the end of last year. It grew at a 2.6 percent annual rate in the final three months of 2018, Ben Casselman of the NYT reports, compared to a rate of over 4 percent in the middle of the year.
“This year seems to be starting at an even slower pace,” Mr. Casselman writes. “Many economists expect growth to drop below 2 percent in the first quarter, in part because of the partial government shutdown, which began in December and extended through most of January.”
But the final quarter slowdown wasn’t as severe as many economists had expected. “Even with the loss of momentum late in the year, 2018 as a whole was among the best years of the decade-long recovery from the Great Recession,” Mr. Casselman writes, adding, “Most economists do not expect a recession this year.”
And the Fed remains optimistic. “The economy is in a good place,” Jay Powell, the central bank’s chairman, said yesterday.
Richard Plepler helped make “The Sopranos” and “Game of Thrones,” two iconic HBO series. But he now plans to step down as the company’s chief executive, in a huge shift under the company’s new owner, AT&T.
Mr. Plepler chafed at losing autonomy under his new bosses, the NYT reports, citing unnamed sources. AT&T has been in talks to hire Robert Greenblatt, a longtime TV executive, for a high-level role at Warner Media, which includes HBO, Turner and Warner Bros. Mr. Plepler may have had to report to a former rival.
He already had issues with AT&T, particularly John Stankey, the head of Warner Media. Last June, the two men taunted each other uncomfortably in public. Mr. Stankey said that Warner Media needed to make money. Mr. Plepler responded, “We do that” — to which his boss said, “Just not enough.”
His departure could precede a larger shake up. Unnamed HBO executives told Peter Kafka of Recode that AT&T wants to further integrate HBO with other Warner Media properties. (Think: early seasons of “Game of Thrones” on TBS.)
But it’s a gamble. AT&T believes that it can put good managers into any business and succeed, but Mr. Plepler is beloved by HBO talent. Alex Gibney, who directed a documentary on the health technology company Theranos for the network, called the executive’s departure “dismaying.”
In his testimony on Capitol Hill this week, Michael Cohen mentioned several Trump associates whom lawmakers should call in for further questioning. Among them, the NYT reports: Allen Weisselberg, the Trump Organization’s C.F.O. and a longtime financial adviser to President Trump.
• “On Wednesday, Mr. Cohen specifically identified Mr. Weisselberg as helping mastermind a strategy to mask reimbursements to Mr. Cohen for his payment to Stormy Daniels, the pornographic film actress who said she had an affair with Mr. Trump.”
• “For decades, he has represented Mr. Trump on paperwork for everything from complex real estate deals to the operations of the antique carousel in Central Park, which the Trump Organization runs.”
• “Corey Lewandowski, a former Trump campaign official, wrote in a book that he co-authored, ‘Let Trump Be Trump’ that Mr. Weisselberg ‘knows of every dime that leaves the building.’”
• President Trump thinks his longtime finance chief wouldn’t turn on him, but others aren’t so sure. “I am sure Allen does not want to hurt Donald, I am sure there is an affection there,” Barbara Res, a former Trump Organization executive, told the NYT. “But he’s in a terrible position — and Donald put him there.”
We may hear more from Mr. Weisselberg. The House Intelligence Committee plans to call him as a witness, and the House Committee on Oversight and Reform may as well.
Andrew Wheeler was confirmed as the administrator of the E.P.A.
Two top G.M. executives — Alicia Boler Davis, the carmaker’s global head of manufacturing, and Alan Batey, the head of North American operations — are leaving.
Peter Higgins resigned as the C.F.O. of Revolut, a British payments start-up, in January as questions mounted about the company’s financial compliance.
Canopy Growth, a Canadian marijuana producer, hired Martha Stewart as an adviser.
• Uber and Lyft plan to let drivers buy shares in their forthcoming I.P.O.s. Meanwhile, Uber is said to be nearing a deal to buy a Middle Eastern rival, Careem, for about billion. (NYT, Bloomberg)
• Gap plans to spin off Old Navy into a separate company. (NYT)
• Shareholders think that Southwest Airlines may be the next elephant-sized acquisition for Warren Buffett’s Berkshire Hathaway. (Fortune)
• Starboard Value plans to vote against Bristol-Myers Squibb’s billion deal to buy Celgene. (Bloomberg)
• Investors in big private equity firms are worried that fund managers will overpay for deals. (Reuters)
Politics and policy
• As more tax returns have been processed, Treasury Secretary Steven Mnuchin said that the average Americans’ refund has grown. (CNBC)
• Two Republican senators, Martha McSally and Mike Braun, said they would return political contributions from the billionaire John Childs, who was charged with soliciting prostitutes. (WaPo)
• President Trump ordered officials to give his son-in-law, Jared Kushner, a permanent security clearance, despite their objections. (NYT)
• For Democrats thinking of running for president, the question is whether they should announce early — or really, really early. (NYT)
• “Brexit fatigue” in the E.U. could hinder any effort by Britain to delay its withdrawal process. (Reuters)
• Can Prime Minister Theresa May push her Brexit deal through a Parliamentary vote? Bloomberg crunched the numbers. (Bloomberg)
• Net migration of European nationals to Britain has fallen 70 percent since the country decided to leave the E.U. (FT)
• British financial firms will have 15 months to fully comply with rules that replace E.U. laws in the event of a no-deal Brexit. (Reuters)
• Huawei took out a full-page ad in the WSJ that read, “Don’t believe everything you hear.” Meanwhile, Secretary of State Mike Pompeo says that the world should have its “eyes wide open” to the national security threat posed by the telecom company. And Canada is expected to announce that an extradition hearing for Huawei’s C.F.O. can proceed. (CNN, Reuters)
• SpaceX plans to test its manned flight space capsule for the first time this weekend — without any passengers aboard. (NYT)
• YouTube will disable comments on almost all videos that feature children in the wake of its recent pedophile scandal. (Verge)
• Amazon has its own misinformation problem, centered on anti-vaccination conspiracy theories. The company is also trying to clamp down on counterfeits. (CNN, WSJ)
• The N.Y.S.E. is favoring humans over bots to smooth out trading in E.T.F.s. (Bloomberg)
Best of the rest
• Big Pharma’s hunt for new drugs is pushing up the cost of the deals it makes to acquire biotech companies. (DealBook)
• PG&E says it likely caused the fire that destroyed Paradise, Calif. (NYT)
• The billionaire Sheldon Adelson disclosed that he’s being treated for cancer. (Bloomberg)
• MSCI plans to quadruple the weighting of Chinese mainland shares in its global benchmarks later this year. (CNBC)
• How the financier Greg Lindberg diverted billion from insurance firms he bought into his own ventures. (WSJ)
• Wall Street’s latest tax dodge involves buying private planes. (Bloomberg)
Thanks for reading! We’ll see you next week.
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黑马会官网【狗】【的】【主】【人】【和】【张】【扬】【互】【相】【表】【达】【了】【感】【谢】，【然】【后】【狗】【主】【人】【就】【带】【着】【雪】【纳】【瑞】【告】【辞】【了】。 【而】【狗】【主】【人】【来】【领】【狗】【的】【过】【程】，【被】【旁】【边】【的】【佟】【倩】【拍】【了】【下】【来】，【并】【且】【传】【到】【了】【微】【信】【群】【和】【朋】【友】【圈】【里】。 【这】【也】【是】【给】“【宠】【物】【店】【丢】【狗】”【这】【件】【事】【情】，【画】【上】【了】【一】【个】【完】【美】【的】【句】【号】。 【虽】【然】【当】【时】【宠】【物】【店】【里】【在】【找】【狗】【这】【件】【事】【情】【上】【进】【行】【地】【轰】【轰】【烈】【烈】，【非】【常】【高】【调】，【效】【果】【也】【不】【错】，【但】【是】【事】
【大】【黑】【狗】【有】【些】【不】【知】【所】【措】，【裴】【红】【进】【入】【了】【那】【个】【令】【他】【感】【到】【异】【常】【忌】【惮】【的】【地】【方】。 【后】【方】【有】【很】【多】【强】【大】【的】【变】【异】【兽】【正】【在】【赶】【来】，【自】【己】【不】【离】【开】【很】【可】【能】【跟】【对】【方】【遭】【遇】，【会】【死】【狗】【的】。 【现】【在】【最】【正】【确】【的】【选】【择】【是】【离】【开】【这】【里】，【前】【方】【是】【来】【自】【生】【命】【本】【能】【的】【畏】【惧】，【后】【方】【是】【来】【自】【现】【实】【的】【威】【胁】。 【大】【黑】【狗】【是】【变】【异】【兽】，【它】【可】【以】【在】【山】【林】【中】【生】【存】，【这】【也】【是】【它】【曾】【经】【的】【向】【往】。
【润】【雨】【也】【不】【知】【道】【哪】【里】【不】【对】，【但】【就】【是】【不】【对】。 【尤】【其】【是】【灵】【戚】【的】【态】【度】，【让】【润】【雨】【觉】【得】【事】【情】【更】【加】【不】【对】【劲】。 【但】【是】【润】【雨】【念】【及】【灵】【戚】【是】【自】【己】【的】【小】【舅】【子】，【就】【没】【有】【继】【续】【追】【问】【下】【去】。 【双】【叶】【说】：“【润】【雨】，【我】【知】【道】【你】【只】【是】【在】【威】【胁】【我】，【不】【想】【让】【我】【占】【了】【上】【风】，【可】【是】，【你】【杀】【了】【我】【哥】【是】【事】【实】，【命】【拿】【什】【么】【偿】，【不】【谈】【其】【它】，【只】【谈】【这】【个】。” 【润】【雨】【说】：“【那】【你】
【曦】【和】【道】：“【我】【刚】【摔】【的】【时】【候】，【真】【正】【傻】【了】【几】【年】，【那】【几】【年】【我】【总】【摔】【东】【西】，【奶】【娘】【端】【给】【我】【的】【饭】【菜】【也】【没】【少】【摔】。【这】【几】【百】【年】【都】【是】【这】【么】【过】【的】，【感】【觉】【玉】【帝】【和】【奶】【娘】【他】【们】【并】【没】【起】【疑】【心】。” 【思】【莹】【叹】【息】【了】【一】【声】，【道】：“【我】【说】【你】【那】【个】【玉】【帝】【老】【子】【真】【不】【是】【一】【般】【的】【昏】【聩】，【不】【过】【呢】，【要】【不】【是】【他】【这】【么】【昏】【聩】，【姐】【现】【在】【可】【能】【还】【当】【不】【上】【这】【个】【江】【林】【仙】【署】【的】【土】【神】【呢】。” 【曦】【和】黑马会官网11【月】10【日】【下】【午】，【上】【海】【上】【汽】【国】【际】【赛】【车】【场】【再】【度】【响】【起】【轰】【鸣】【阵】【阵】，WEC（【世】【界】【耐】【力】【锦】【标】【赛】）【上】【海】【站】【的】【比】【赛】【如】【期】【打】【响】。
【小】【跟】【班】【出】【现】【后】，【灭】【世】【和】【凶】【兽】【也】【出】【现】【了】，【灭】【世】【讥】【讽】【的】【看】【着】【小】【跟】【班】，【嗅】【着】【他】【身】【上】【甜】【的】【让】【人】【恶】【心】【的】【味】【道】，【嘲】【讽】： “【大】【人】【又】【没】【做】【错】，【为】【什】【么】【要】【收】【手】？” 【错】【的】【是】【顽】【固】【的】【世】【人】，【他】【们】【畏】【惧】【死】【亡】，【胆】【小】【却】【又】【恶】【毒】，【这】【样】【肮】【脏】【的】【存】【在】，【本】【来】【就】【是】【应】【该】【毁】【灭】【的】。 “【大】【人】，【你】【醒】【醒】【吧】，【难】【道】【你】【记】【忆】【里】【的】【人】【类】，【真】【的】【就】【那】【么】【恶】【毒】【吗】？
【莫】【毅】【闻】【言】【一】【怔】，【心】【说】：“【长】【恭】【前】【辈】【的】【藏】【书】【这】【么】【猛】【的】【吗】？”【便】【让】【顾】【盼】【儿】【帮】【着】【读】【几】【段】，【结】【果】【还】【真】【是】【这】【么】【猛】，【好】【些】【个】【香】【艳】【段】【落】【让】【曾】【经】【沦】【落】【风】【尘】【的】【女】【子】【都】【看】【的】【面】【红】【耳】【赤】。 “【长】【恭】【前】【辈】【不】【愧】【是】【杨】【柳】【的】【同】【道】【中】【人】，【藏】【书】【内】【容】【竟】【如】【此】【荤】【素】【不】【忌】。”【莫】【毅】【摆】【摆】【手】【让】【顾】【盼】【儿】【别】【读】【了】，【免】【得】【大】【家】【尴】【尬】。 【在】【随】【手】【拿】【起】【一】【本】【头】【行】【刻】【着】《【鲁】【史】
“【我】【对】【你】【没】【兴】【趣】，【滚】！” 【陈】【东】【已】【经】【猜】【测】【出】【来】【来】【者】【是】【谁】【了】。 【这】【里】【可】【是】【世】【俗】【界】【的】【城】【市】【内】，【没】【有】【几】【个】【修】【真】【者】【会】【无】【聊】【到】【在】【这】【里】【找】【陈】【东】【麻】【烦】。 “【看】【来】【你】【真】【是】【足】【够】【狂】【妄】【啊】。” 【青】【年】【男】【子】【摇】【摇】【头】，【好】【像】【对】【陈】【东】【很】【失】【望】【的】【样】【子】。 “【滚】！” 【这】【里】【可】【是】【马】【路】【上】，【陈】【东】【可】【不】【想】【在】【这】【里】【与】【对】【方】【交】【手】。 “【你】【是】【想】【死】【吗】？