No more Tesla buyback guarantee as company cuts price of Model X

San Francisco / DETROIT (Reuters) - Tesla Motors Inc. has a program that guaranteed the resale value of its vehicles, and lowers the starting price...


No more Tesla buyback guarantee as company cuts price of Model X

San Francisco / DETROIT (Reuters) – Tesla Motors Inc. has a program that guaranteed the resale value of its vehicles, and lowers the starting price of its Model X crossover ended, the high-profile electric car maker yesterday <. / P>

discontinuation of the program, from July 1, Tesla late to release money it had put aside to buy back Model S car after three years at a value of at least 50 percent of the base purchase price.

The changes come Tesla warned earlier this month that will afleweringsvoertuig goal fog for a second consecutive quarter.

The faces other challenges, including a regulatory investigation into its AutoPilot technology following a May 7 fatal accidents and more control of its financial after a proposed merger with Solar City Corp.

In the next 12 months, Tesla has revealed it can pay a maximum of $ 192.4 million to cover resale value guarantees on 4209 vehicles. This equates to a maximum liability of $ 45.711 per car, although Tesla disbursements can offset the sale of repurchased vehicles.

Tesla valued the total liability created by the resale warranty $ 1580000000 March 31, submission according to its latest quarterly results with the Securities and Exchange Commission, has more than 20 percent since the end of 2015.

the program began in 2013, aims to help Tesla managing the secondary market and ensure buyers purchase vehicles using novel technology which will not significantly decrease resale values.

A Tesla spokesman said the program was put stop to “as low as possible to keep interest and offers an exciting lease and loan programs to customers.”

into effect, Tesla is now doing what most established car manufacturers:. allow market forces to set trade-in values ​​

less cash in reserve

Only a very small number of Model S sedan sold by used vehicle auctions, and so far the vehicles “seems to are going for “a pretty strong contribution in the second hand market,” said Patrick Min, an analyst at Automotive Rental Guide.

The termination of the guarantee can allow Tesla to keep less money in reserve, minus added. By contrast, resold values ​​for the mass market electric vehicles like the Nissan Leaf is depressed, said Min. A three-year-old Leaf sales average about 20 percent of the price when new, he said.

If more Model S vehicles on the market, but sold securities may eventually fall, analysts said.

Tesla has an ambitious and expensive plan to accelerate the introduction of its Model 3 sedan, and promote overall production rate of 500,000 vehicles a year by 2017. The company is set put too ready to shed production of batteries on a giant plant in Nevada.

Tesla shares closed down nearly 1 percent at $ 222.53.

Investors keep an eye on Tesla Chief Executive Elon Musk balance after it proposed to acquire solar company Solar City, where he is chairman and a major shareholder.

Musk tweeted yesterday that he plans to soon part two of his publishing “top secret Tesla Master Plan,” after speculation that he might reveal more details about the possible merger, which was reached with the market skeptical.

On Wednesday, Barclays analyst Brian Johnson Tesla has a D grade for financial stewardship, and please note that Musk original 2006 master plan “dug a $ 4.2 billion hole” for the company.

Also on Wednesday, Tesla has said a new version of the Model X crossover, the 60D, will be priced from $ 74,000, $ 9,000 less than the Model X 75D. Equipped with a 60kWh battery, the 60D less torque and a shorter distance range as the 75D.

The Model X price cut follows a similar price cut for the Model S, whose base price is reduced to $ 66,000 last month.

(Editing by Frances Kerry and Jeffrey Hodgson)

European tech investors spot safe havens from Brexit worries


European tech investors spot safe havens from Brexit worries

Frankfurt (Reuters) -. Technology investors sought shelter after Brexit picking companies provide direct access to services for web and mobile clients or companies mainly do business worldwide that could benefit from falling kilos

It’s way too Skram hardware makers or email trafficking suppliers with large British sales, which accounts for less currency driven by swinging voice of great Britain to leave the EU.

Shareholder is also cautious for software and services companies get caught short by freezing budgets by customers scrambling to evaluate their businesses and consequent slower economic growth.

Second quarter results starting this week and running in August. The Stoxx European technology index fell 10 percent in the June 23 vote, but has since returned 6.6 percent. It is namely 10.5 percent so far this year, weighed by the slowdown in the global economy is growing smartphone and concern about the global economy.

Brexit playing in a deeper trend in which established technology companies providing traditional hardware, software or services is losing ground to cloud-based businesses, such as corporate spending and consumer appetite shifted to the Web and mobile phones.

“There will be many companies poorly positioned for the cloud that will proclaim Brexit as a timely excuse for their own problems,” said Ben Rogoff, a fund manager at Polar Capital in London

“Let’s be clear here:. This uncertainty takes place against the background of growth, which in any case disappointing These companies will blame Brexit their own misexecution” ..

a recording of the head inligting beamptes in the United States and Europe by Morgan Stanley in June – before Brexit voice – the buyers had already paring back 2016 spending plans for hardware and technical services. Cloud, big data and security remains above bestedingsprioriteite, it found.

After the vote, global market research firm Gartner cut its technology spending outlook for Britain by 3 percent this year and 5 percent in 2017.

safe havens

two UK-based safe havens is ARM Holdings, the chip technology used in most smartphones licenses worldwide, and Sophos, driven by demand for its computer security software and services, most financial analysts say.

US names such as and Red Hat, with a long-term subscriptions for Internet software supplied little direct exposure to the UK, are safe bets, said Silicon Valley-based analyst Trip Chowdhry. and Apple, while operating in Britain, enjoys strong brands and tough sake subscription models tend to isolate them from any UK slowdown, he said.

Worldwide benefits of spending on its advanced chip aimed ASML Netherlands makes tools from Intel and Taiwan’s TSMC <2330.TW>, along with the positive effects of product sales in dollars, but the discussion of them said in euros, Morgan Stanley.

Europe’s largest software maker, SAP, remains isolated by long sales cycles and an entrenched multinational client base, with little direct exposure to the UK, although the Brexit shock could prove in the last week of June has delayed some new software license trade.

Baader analyst Knut Woller expects SAP later confirm this month its full year 2016 financial targets, “SAP consensus for flat growth licensed in the second quarter, which would be seen to meet as a relief” and the stock handlebar higher, he said.


But the UK online advertising and e-commerce sales by other major American Internet in particular is set to an ultimate hit of slower economic growth and translation pounds in US dollars take breaks for record purpose, said Deutsche Bank analyst Ross Sandler

it includes eBay, with 16 percent of revenue from Britain. Price travel site with an estimated 15 per cent; Google 9.5 percent and Facebook with an estimated 7 to 10 percent linked to Britain, Sandler said.

Eastern European software service EPAM and Luxoft, which heavily rely on contracts of financial services and media customers in Britain and Western Europe, a number of technology stocks hardest hit in the region by worry about how Brexit undermine economic growth. Both stocks are en 15-20 percent in the past month.

Financial software vendors Temenos of Switzerland and the United Kingdom established Fidessa may have trouble closing contracts to reconsider the second half of 2016 as banks their British positions, UBS said.

“While we do not think the UK abandoned” vote is analogous collapse of Lehman, we think it’s probably as banks consider impede the possible implications of the decision-making in Europe, “UBS software analyst Michael Briest said

Dutch car navigation vendor TomTom’s stock has 20 percent immersed in the past month. UK consumers are responsible for 13 percent of sales, with three-quarters of total sales come from Europe, Barclays said <. / p>

“We have challenging times ahead for TomTom based on its exposure to the UK consumer market and the negative impact of foreign currency must TomTomâ ???? Gross have margins, “the Barclays analyst Andrew Gardiner.

TomTom face a double hit because most of what they sell are priced in dollars, making purchases more expensive in Britain.

(Editing by Ruth Pitchford)

Wal-Mart mobile pay service rollout complete, repeat usage jumps


Wal-Mart mobile pay service rollout complete, repeat usage jumps

CHICAGO (Reuters) – Wal-Mart Stores Inc. said yesterday that the deployment of its Wal-Mart Pay mobile payment service in the United States and completed 88 percent of transactions in the payment information is from repeat users <. / P>

at all transactions on the youth, which is the world’s largest retailer, launched in December, rose 45 percent in the last week, Daniel Eckert, senior vice president of services at Wal-Mart US, said on a conference call with the media.

Wal-Mart has refused to disclose the increase in transactions since the launch, or the number of users of the phone in its stores.

US retailers have launched many mobile payment program in the last two years, but customers and dealers have been slow to accept them.

US mobile payments responsible for an estimated $ 67000000000 of purchases in 2015, and is expected to grow this year to $ 83 billion, or 24 percent of all purchases made via smartphones, according to the latest Forrester Research data .

Eckert Wal-Mart Pay users do not spend more as a result of using the app. The company is to see whether purchases will increase the store surveillance patterns.

The dealer will begin advertising push youth use customer, he said.

Walmart Pay is available on Apple and Android devices and late payments with a great credit, debit, prepaid or Walmart gift cards.

Customers at a checkout counter have to select the payment option within the app and use their smartphone cameras to scan the code in the registry. An email receipt will be sent to the app. Apple Inc’s Apple Pay and alphabet Inc.’s Android Pay requires retailers compatible new equipment, which has prevented wider acceptance install.

Wal-Mart no external mobile wallet like Apple Pay accepted in shops. Consultations on the acceptance of a third party purses is underway, but Wal-Mart has no immediate plans to do so, said Eckert.

Wal-Mart leads a consortium of US retailers to develop a mobile wallet app called CurrentC. The group, Target Corp and Best Buy Co Inc includes, did it earlier this year, delaying the start of the youth hit some roadblocks to the project

(Reporting by Nandita Bose in Chicago, Editing by Richard Chang ).

‘YouTubers’ outshining old-school television


Millennials and their successors prevent old-school television in favor of watching what they want when they want on Google-owned YouTube or other video platforms like Dailymotion or Facebook.

“Young people do not really watch TV anymore, they watch online videos that are shorter and more talent-driven,” says Fabienne Fourquet, a former executive at a & amp; amp; E Television and the French Canal +, now the head of the multichannel network 2btube

. “They do not want to be Hollywood stars when they grow up, they want to be YouTubers. There’s this whole other world.”

The new multi-channel networks, or MCN’e is talent agents of all shared for creators of videos on online sites.

It helps authors, often referred to as YouTubers, video production and promotion with finding partners or sponsors in exchange for a percentage of sales.

Fourquet said popular topics include music, comedy, sports, video games, fashion and beauty.

She noted that three-quarters of its audience was younger than 34 years old, and the other half were younger than 25.

“There’s very few of us old people,” rudder stick spotted

-. World music –

Own described YouTuber Caroline Artiss has a chef cook for 20 years, but selected from restaurants and working in catering in 2008 for himself.

Then, a friend to show her how easy it was to make videos for YouTube.

“It was just me and a tripod in my kitchen,” Artiss AFP.

“When people began voting from all over the world.”

She tells the cook her way in the United States. for a multi-episode show after catching eyes on BBC America and a television network in Malaysia

Artiss said she approaches her cooking videos from the perspective of a single mother – short on time and money, but need to conduct a family.

She was signed by a video network, which describes itself as being adapted for a mobile generation and focused on “trendsetters” passion for sharing food and travel.

“It still blows my mind,” Artiss says.

“I come from a single mother, struggling in London, to pay my bills with an opportunity to start my own TV channel in a way.”

Artiss conspired with other chefs to open Gorgeous Kitchen restaurant at the airport London Heathrow.

She has a cookbook due later this year and is working to raise fresh produce to get to Juvenile Policy Institute money to low-income families.

Of course, it’s a video. This can be viewed online at

-. Television frills –

An annual VidCon event in Southern California has to connect to a hot spot for YouTubers was with business opportunities and ecstatic supporters.

Some 25,000 people are said to have attended this year VidCon, which took place in June.

“with the onset of digital video platforms and the fact that everyone has a smartphone in their pockets, we have democratized a creator,” has Paladin cofounder James Creech, whose California company specializing in technology for finding emerging stars in a big universe where anyone can post content online.

“a 17-year-old in his or her own bedroom can compete with the holding of CBS and build an audience that will resist a large media company.”

keys to online videos taken includes creative and regular site content, according to Creech.

Amateurs can polished professional content with authentic compounds from which viewers think of taking them as friends, he said.

“Regular television is about comics and YouTube is about real people and the games that I like,” 11-year-old California boy and online video fan Henry Crawford AFP.

“Television’s antics.”

Paladin indexes millions of channels, providing analysis that can results narrowed videos by popularity, subject, language and more.

YouTube channel with the most subscribers is that the Swedish video author and comedian PewDiePie, which offers interesting remarks while playing video games.

Hot Online Video Trends close “unboxing” in which people themselves or others opening packages with unknown contents film.

Another popular YouTube channel called hydraulic press features videos things broken only by that piece of equipment.

Amazon released twitch announced on Friday that he is experimenting with a new category of “Social Eat” where people stream broadcasts on the service social contacts with viewers over meals.

The traditional media companies would be wise to be concerned by the trend, according to Creech.

“It’s a big failure,” Creech said. “We are in the midst of a revolution in the media and it’s very exciting.”

Airbnb sues San Francisco over registration policy


Airbnb sues San Francisco over registration policy

San Francisco (Reuters) – Airbnb sued the city of San Francisco on Monday, arguing that require hosts to a recent regulation to register with the city violates free speech rights of online home business operator

. A San Francisco law to come into force next month act requires companies like Airbnb to confirm that rents a valid registration issued by the city. The regulation would be on the company fines up to $ 1,000 per day for each violation.

Airbnb lawsuit demanding that the rule violated federal communications law and asking a judge to close. The law can not solve San Francisco housing crisis, the company in a blog post.

“This legislation ignores the reality that the system does not work and this new approach will harm thousands of everyday San Francisco residents who depend on Airbnb,” the company said.

Matt Dorsey, a spokesman for the office of the San Francisco city attorney, said nothing in the regulation punishment Airbnb for their content hosts. On the contrary, the statute that is intended to facilitate tax collection, he said

“In fact it is not user content regulation at all – it is the regulation of the activity of the hosting platform itself.” Say Dorsey in an e-mail. A

The case in US District Court, Northern District of California is Airbnb Inc. vs. City and County of San Francisco, 16-03615

(Reporting by Dan Levine;. Editing by Bernard Orr)