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"ceo salaries parak" Discussed on Marketplace Morning Report with David Brancaccio
"This marketplace podcast is brought to you by aqua the open source digital experience company brands often struggle to find a comprehensive solution to power their DRUBEL websites and applications aqueous Platform enables you to build operate optimize at scale as the open source leader Aqua gives customers around the world the freedom to build tomorrow on their terms learn more aqua dot com programs with paychecks they work with you the way you want to work learn more at paychecks dot com slash marketplace tesla made money last quarter ahead line in itself I'm David Brancaccio in New York the Electric Car Company Tesla has delighted it's investors with news late yesterday it did not lose money after all the summer to fall quarter while Tesla's performance can be volatile it's the first prophet in a year the stock is up about seventeen percent right now marketplace's Justin hope was following this today yeah this is the first quarter since two thousand eighteen that tesla earnings releases showed profits instead of losses Teza lost over a billion in the first half the year the last quarter of the company has a lot of its success had to do with record vehicle deliveries that's basically vehicles that are sold and then delivered to customers also cost troll keeping expenses down yeah being a cost the company's been working on some grand if not grandiose project right a big factory in China which Tesla says now ready to go it wants to build another one in Europe and Tesla's also working on a crossover SUV and the semi truck and has plans for an electric pickup to one of its biggest projects is becoming a mass market automaker and a lot of that means focusing more on it's cheaper models like the model three sedan in fact CEO Elon Musk on a conference call yesterday said the Model S. an ex cars which run from eighty to a hundred grand are pretty niche and not the company's focus right now we're continuing to make them or for sentimental reasons than anything else they're really of minor importance to future still all that depends on whether consumer demand keeps up analysts suggested demand for new vehicles in the US and China is showing signs of weakness and also here in the US the federal tax credit for electric vehicles will go away next year and that could hurt the into its marketplace's Justin Ho thank you very much the stock market is open for the day and the Dow Jones Industrial Average is down forty five points it's about two tenths percent the S. and P. Five hundred up ten percent Nasdaq is up six tenths percent the benchmark ten year interest rate at the moment down at one point seven four percent the European Central Bank sat tight today leaving interest rates alone to give more time for stimulus to prod along the faltering euro-zone economy in the US caution light when it comes to durable goods orders in September which fell half a percent more than expected to explain. That's welcome Jeffrey Cleveland the chief economist at paid in in Re goal to the New York Bureau today's normally in Los Angeles good to see you great to see you David we did get orders for expensive long lasting goods in America durables doesn't look so good durables can be a monthly you know noisy series so that is something to keep in mind however we do I think would have a dichotomy a two-speed economy as we've talked about before on the one hand business investment is we can has been weak and that's what we see I think reflected in the data this morning manufacturing the industrial side has has weakened due to in part tighter interest rates from the Fed but also the trade war on the other hand the consumer still holding up we saw initial claims this morning did initial jobless claims they're down a little bit fewer people signing up for the first time for unemployment benefits right and we watched that because we is it as a proxy for layoffs and we don't WanNa see layoffs creeping up if layoffs creep up that's usually a sign that the economy is about to take a turn for the worse we don't see that right now layoffs are still low so that's good news for the US consumer at the chief economist at paid in Regal in Los Angeles. Jeffrey Cleveland thank you thank you these purity's and Exchange Commission in Washington has started an investigation into India's second largest company Infosys is the software giant that does a lot of work outsource from the West a whistleblower complaint alleges unethical accounting practices the BBC's Jug Deep Cheema has more from Mumbai this comes after an anonymous group called implies complained to the company's board and the US Securities and Exchange Commission alleging accounting and management misconduct to boost short-term revenues and profits the complaint centered around the firm CEO Salaries Parak- allegedly rushing through launch deals before they receive the required authorizations India's earn more doc it regulator the Securities and Exchange board of India is also looking into the matter Infosys stock is down fifteen percent this week.