On Wire

Breaking news, updates, and reports on current events.

Former Tesla Employee allegedly stole autopilot source code and went to work with Chinese startup Xiaopeng Motors

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https://www.theverge.com/2019/7/10/20689468/tesla-autopilot-trade-secret-theft-guangzhi-cao-xpeng-xiaopeng-motors-lawsuit-filing ​ Lawsuit filed. Very interesting. He is now the “head of perception” at Xiaopeng. Xiaopeng is backed by Alibaba and looking to raise money for a US IPO. ​ Should be interesting to see how this shakes out with trade war tensions high between the US & China.

Literally Risk Free

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Just a heads up for everyone, CME Group is holding a futures trading competition next week with the recent micro e-minis. First prize is $2500 as well as $1500 and $850 for 2nd/3rd. Gamble with fake money for a chance to win real money you can gamble with. Literally risk free. https://www.cmegroup.com/futures_challenge/challenges/183/landing   h/t  laser2ce

Powell testimony day 2 – Says U.S. economy was hit by ‘confidence shock’, has only partly recovered. Wants expansion to carry on as long as possible.

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Partly recovered? I can’t wait to see what “fully recovered” looks like.   Federal Reserve Chairman Jerome Powell said Thursday that the U.S. economy was hit by a severe “confidence shock” in May from which it has only partly recovered. “You saw business confidence surveys… quite negative, fairly broadly,” Powell said, in testimony to the … Read more

Singapore’s GDP badly misses forecasts, shrinking 3.4% from the prior quarter

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via CNBC:   The second quarter flash numbers are “quite disastrous… way below even the worst street forecasts,”said Selena Ling, head of treasury and strategy at OCBC Bank, adding that the main drag remains manufacturing. In the second quarter, manufacturing contracted 3.8% from a year earlier after shrinking 0.4% in the quarter earlier. Singapore authorities … Read more

Nuclear Is Japan’s Only Choice For Energy Independence

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By Global Risk Insights   Japan has adopted a peaceful approach towards nuclear technology, limiting it to the use of supplying electricity. This is despite being the only nation to have suffered devastating effects of nuclear warfare. However, the 2011 tsunami triggered an accident at the Fukushima nuclear plant and dramatically changed public sentiment with widespread protests calling … Read more

REFORM: Trump Administration Announces Plans To Shake Up The Kidney Care Industry.

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via npr:   The Trump administration has announced an ambitious plan to change treatment for kidney disease in the United States. President Trump signed an executive order Wednesday directing the Department of Health and Human Services to develop policies addressing three goals: reducing the number of patients developing kidney failure, reducing how many Americans get dialysis … Read more

NED RYUN: “We’re currently witnessing one of the greatest attempts at mass bribery in history. With each passing week the Democrats running for the 2020 nomination offer yet another bribe for winning more votes.”

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via amgreatness: We’re currently witnessing one of the greatest attempts at mass bribery in history. With each passing week the Democrats running for the 2020 nomination offer yet another bribe for winning more votes. The most recent is Senator Kamala Harris’s $100 billion dollar plan for black home ownership. But this is child’s play compared to … Read more

Washington Is Pretty Much Just A Giant Slush Fund

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FCC Dings Left-Wing Nonprofits For Using Federal Program To Finance Pet Projects. An FCC commissioner is blowing the whistle on left-leaning groups he believes might be scamming a program designed to help deliver high-speed internet to public schools. “These organizations are stockpiling significant amounts of cash,” FCC Commissioner Brendan Carr said about nonprofits who appear … Read more

Consumer Groups Want California Oil Regulators Fired Over Conflict Of Interest

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By Tsvetana Paraskova Two consumer groups opposed to fossil fuels are calling on California’s Governor Gavin Newsom to fire supervisors at the state agency regulating oil drilling permits over a conflict of interest, after the consumer alliances found records showing that several regulators held shares in oil giants such as Exxon, Chevron, Valero, ConocoPhillips, Shell, … Read more

A Long Shadow Creeps over the Economy This Summer

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by David Haggith It’s time to turn around and see the darkness that the Fed sees looming over you. Earnings season is already extending signs of recession with the first corporate reports coming in far darker than expectations that were already twilight dim in FactSet’s estimations, which pegged earnings as likely to show a 2% contraction. Even … Read more

One Heck Of A Recession Party!!

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Authored by Mike Shedlock via MishTalk, Stocks are on a tear. Celebrating rate cuts. With the rate cuts comes a recession. No recession? No more rate cuts. It’s been one hell of a party. Hold on, John Hussman says Warning: Federal Reserve Easing Ahead Of all the distinctions that investors might make in the coming few years, one … Read more

“Alexa, How Do We Subvert Big Tech’s Orwellian Internet-of-Things Surveillance?”

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by Charles Hugh-Smith Convenience is the sales pitch, but the real goal is control in service of maximizing profits and extending state power. When every device in your life is connected to the Internet (the Internet of Things), your refrigerator will schedule an oil change for your car–or something like that–and it will be amazingly wunnerful. You’ll … Read more

China Auto Sales Spiral Down, But This Time It’s Different: Government Refuses to Bail Them Out with Big-Fat Incentives

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Here’s why. The strategy is a game changer with global impact. Geely, China’s largest domestic automaker, disclosed that deliveries plunged 29% in June compared to a year ago, and that they’re down 15% in the first half. And it slashed by another 10% its already lowered forecast for deliveries for the whole year. … Read more

Up To 25 Inches Of Rain! – New Orleans Is About To Be Absolutely Devastated By A Storm Of Biblical Proportions

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by Michael Snyder New Orleans is about to be hit by “an extreme rainfall event” that is likely to be the worst disaster that the city has seen since Hurricane Katrina.  It is being projected that Tropical Storm Barry could officially become a hurricane before it makes landfall on Saturday, but in this case the … Read more

In its transit system, at least, San Francisco may be rediscovering what New York City learned a generation ago.

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RESTORING ORDER ON BART: Three months ago, the Bay Area Rapid Transit (BART) system that serves San Francisco and surrounding counties began a “blitz” to deter morning rush-hour fare evasion at four downtown stations. As reported by the San Francisco Chronicle, the first month’s results were startling: proof-of-payment citations rose 13 percent, new ticket sales rose 10 … Read more

LOL! Bernie Sanders Latest Ad for Cancelling Student Debt Trashed As “Infomercial”

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100% Fed Up reports, Bernie Sanders is using an “infomercial” type ad to tell everyone who took a student loan out for college that their debt will be canceled. It’s a rainbows and unicorns ad that appeals to his supporters who are between the ages of 18-24. https://www.youtube.com/watch?v=oi_ZeKelxi8   Read More/Source/Credit/FairUse: https://100percentfedup.com/video-ber…