Bloomberg Microsoft Corp said it will spend $500 million to develop affordable housing and help alleviate homelessness in the Seattle area, responding to a growing regional housing crisis that has strained the finances of many lower- and middle-income residents. Half the money will be spent to support low-income housing across King County with a further $225 million invested at lower ...

Bloomberg Elon Musk is cutting Tesla Inc.’s workforce by 7 percent — or more than 3,000 jobs — warning that the “road ahead is very difficult” in making electric cars more affordable for the mass market. Tesla shares fell as much as 7.7 percent shortly after the start of regular trading. Musk wrote in a blog post that the Palo ...

The poet Rupert Brooke voiced the exhilaration of those Britons who welcomed the war in 1914 as a chance to escape monotonous normality, “as swimmers into cleanness leaping.” They got four years mired in Flanders’ mud. In a 2016 referendum, Britons voted, 52 percent to 48 percent, for the exhilaration of emancipation from the European Union’s gray bureaucratic conformities. They ...

An investigation by federal authorities into the possible theft of trade secrets by Huawei Technologies Co. could give even more weight to a US campaign against the Chinese company. Civil suits against Huawei, including a case where it was found liable by a jury in 2017 for the theft of T-Mobile US Inc. robotics technology, appear to be the springboard ...

That pain the global tech industry felt at the end of 2018 isn’t about to abate. The outlook from Taiwan Semiconductor Manufacturing Co. last week in Taipei paints a dire picture that will persist at least through the middle of this year. Those dark clouds I warned about in August haven’t gotten any lighter. At the time, I noted that ...

Fearing that low unemployment would spur serious inflation, the Federal Reserve has raised its benchmark interest rate nine times since December 2015 and has started to shrink the size of its balance sheet assets in an effort to tighten credit. So imagine the surprise when the minutes of the Fed’s December monetary policy meeting stated that “many participants expressed the ...

When Elon Musk broke ground on Tesla Inc.’s Gigafactory in Shanghai earlier this month, he wasn’t just thinking about how many Teslas he’ll sell in China. He was thinking about how many he might be able to share. Musk isn’t alone. Global automobile manufacturers are scrambling to develop services that will allow Chinese car owners to rent out their vehicles ...

BlackRock Inc. proved last year that it can beat the market. What the world’s largest asset manager still needs to prove is that it won’t get tripped up by its own success. Fourth-quarter earnings were down and missed expectations, BlackRock announced last week, but that shouldn’t surprise anyone. BlackRock oversees about $6 trillion in assets, about half of which are ...

The ‘gig economy’ has become the cause celebre for people who think labor needs help from government in its struggle with capital. Politicians from the radical left and anti-establishment parties say the rise of casual work is a sign that work relationships are sliding back in time and that the state must step in to address this decline in standards. ...

Bloomberg Lately, it seems, Infiniti can’t catch a break. Sales slumped last year to 149,280 vehicles in the US, down 2.7 percent from 2017. The automaker’s QX30—a small crossover that should be capitalising on the unfettered thirst Americans have for compact SUVs—hit just 8,101 units in the US, down nearly 43 percent from 2017. The larger QX50 was one the ...