Category: Finance

Google is working on its own debit card (again)


Way back in 2014, when Google Pay was known as Google Wallet, the company offered a debit card you could use with your Wallet balance. The company killed it off in 2016, but it now appears the company is revisiting the concept. According to TechCrunch, the company is working on a debit card powered by Google Pay, which sounds a whole lot like the old concept. Still, now that Apple has had some success with its credit card and people are generally more acclimated to software companies offering payment services, the big G might have better chances at success. Google…

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US to inject $300M into research for cleaner transport tech


The electric vehicle market looks like it’s going to get a boost in the United States. The Trump administration has just announced that it’s set up a $300 million grant to research clean vehicle technologies. Mark Menezes, an official from the US Department of Energy announced the grant earlier today at the Washington Auto Show, Washington Examiner reports. The DoE is also partnering with an energy utility research group. [Read: Tesla Model 3 drives surge in UK’s battery-powered vehicle registrations] Most of the money, $133 million, will go toward research of electric and battery technologies. Whilst another $100 million will…

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Tesla becomes America’s first $100B publicly listed carmaker


Elon Musk appears to have built a venerable financial fortress around his electric vehicle company Tesla. On Tuesday it became the first US carmaker, that publicly sells shares, to be valued at over $100 billion. Late last night, at around 2330 CET (1730 EST) Tesla‘s share price jumped to $554. This bumped the company’s overall market capitalization to over $100 billion. [Read: Tesla says there’s no unintended acceleration in its vehicles, blames short seller] Tesla‘s valuation far outranks other publicly traded US carmakers like General Motors and Ford. At the time of writing, General Motors market cap is around $49…

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VW knows it must become a tech company to compete with Tesla


German marque, and the world’s largest car maker by sales, Volkswagen (VW) appears to be wising up to the changing landscape of the automobile world. In a meeting with more than 100 company managers in Berlin this week, VW CEO Herbert Diess said that the company will have to “slaughter some sacred cows” and transform into a tech company if it’s to survive, the FT reports. In other words, VW is going to have to retire beloved vehicles in favor of greener alternatives. It seems that VW is growing increasingly aware of how companies like Tesla are shaking down the…

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