8 Burst results for "Tara Patel"
"tara patel" Discussed on Bloomberg Radio New York
"The overall market trade, signaling out some names Tesla, also on our radar. It's down about 1.8% in today's session. Definitely off its lows of the day. And we want to get to a story that is courtesy of our own Bloomberg's Ed ludlow and down a hall, a Bloomberg exclusive talking about the company's plans to cut about 200 autopilot workers as it shuts down its California site. Let's get more Bloomberg news, West Coast correspondent Ed ludlow. He is in our 9 60 studio in San Francisco. Check him out on YouTube as we speak. You can see him. Hi, Ed. Hey, so tell us about this story. You guys broke it. What do we need to know? And was it a surprise? Yes and no. It's a facility in San Mateo here in the Bay Area. And it was home to the autopilot data labeling team. And sources tell us that they were all called into yes a and told that their jobs were gone. This was part of a longer term planned move this team from one facility in San Mateo for one down the road in Palo Alto. Lots of those workers were expecting to be moved, but ultimately what happened was they were laid off. And I think you're actually at a port and that's a ship coming in. Yeah. Is that what's going on? Yeah. So Ed, I mean, when I saw this headline cross yesterday, usually you would see a headline like this and be like, oh man, the company is in trouble or in some sort of stress that we didn't know about. Is that true when Tesla's case? So Elon Musk told our editor to achieve John micklethwaite last week that Tesla would be laying off 10% of salaried workers. Tesla's workforce is split between two thirds hourly workers and one third salaried. This is important because according to sources, the vast majority of those laid off yesterday were hourly not salaried. So it is kind of at odds what happened because Elon Musk told us it would cut focus on salaried employees, hourly workers would be protected. Now, Elon Musk also clarified that a lot of the hourly jobs he was talking about growing would be on production lines that people we're talking about are data labelers. They're working on the autopilot functionality, but they're still hourly workers. So it was a surprise because we were led to believe that those types of employment contracts were protected. So is this a shift of a mega growth company? It feels like as it's ramped up and been spitting out its vehicles. I mean, is that a shift from this company maybe not being such a big growth player, but still producing a lot? You know, autopilot data labing is kind of a manual job in a thankless job. You basically take video footage that's generated from the cameras on Tesla customer cars, Tesla owner cars. And you annotate to help train the neural networks that improve the technology. People are doing that here in the Bay Area, but they're also doing it in Buffalo, New York and what sources tell us is that actually that team is growing and buffalo, New York. But sources also tell us that they are paid less in New York State than they are here in the Bay Area. So that's one factor to consider. But it's definitely one of these areas that Elon Musk has referred to where they grew too quickly to two greater size. Their big teams in the Bay Area as I said, this was part of a sort of change of plan to move people to different offices. They've been winding down the team anyway. But it's still interesting. Well, that's kind of what I was thinking because it caught my eye in your story that you say that the company now based in Austin, Texas. It's grown to about a 100,000 employees globally. I had no idea that Tesla employed that many people. And if you think about what we've heard from Amazon and I think Walmart too coming out and saying that they overstaffed. I mean, could that potentially be true in Tesla's case? You know, I think what we learned with inflation is inflation took us by surprise. It surprised to the upside a lot, the macro picture and the supply chain breakdown continues to surprise us and inventories of retailers is a good example of that. What I would say is that people have short memories when it comes to Tesla and you have to remember that there have been rounds of job cuts before. The stock performed astronomically in the 2018 2019 in the early days of the pandemic. But in 2018, they did go through a round of layoffs when things were tough. So we've seen Elon Musk be prepared to do this in the past and he'd warned us. Hey, you know, one thing I wanted to ask you, Katie and I were just kicking around some stories in the solar world and the alternative energy world. There's a story by Tara Patel about Stellantis. It's one of Europe's biggest automakers. And they are warning of a car market collapse. If EVs don't get cheaper, I have to say, that makes sense to me that unless we bring down the price and I don't know how we do it, whether it's just being able to mass produce more. I mean, how do you see it and how does kind of Tessa play into this? Who has been also trying to, I feel like be more aggressive about getting a car for the mass market. Yeah, you guys remember Elon Musk had this original goal of a $25,000 EV where he wanted to make one for the masses. Well, that's gone out the window, frankly. He's abandoned that idea. And not every, if we take the United States as an example, the median household can not afford a 40 50 60, $70,000 vehicle, especially a small one like a Tesla Model three or a model Y they look for value and you look across the market and the trend that we're seeing, all of these EV players, the rivian's, the lucid, on top of Tesla, and the legacy auto like GMM Ford, it's very expensive, high end models they're offering. We don't yet have a true mass market model that is affordable for that media to lower income family household. And that's the inflection point. You look at China where you'd be adoptions further ahead, they have a greater variety
"tara patel" Discussed on Bloomberg Radio New York
"App and Bloomberg radio dot com Bloomberg the world is listening If knowledge is power the Bloomberg terminal is your power up connecting you to real-time financial data market moving news powerful analytics and an influential network of financial decision makers around the world Share ideas negotiate trades and gain the insight you need to make more informed decisions See how the terminal can take your workflow to the next level at Bloomberg dot com slash professional Is dedication the thing that drives me every day is a dad is very honest We call him day to day for short Every day he's hungry for something whether it's attention affection knowledge and there's this huge responsibility in making sure that when he's no longer under my wing that he's a good person I think the advice I would give is you don't need to know all the answers The craziest thing was believing that your dad knew everything So as a dad you felt like you had to know everything You had to get everything right It's okay to make mistakes As long as it's coming from love then you know it kind of starts to work itself out I want him to be able to sit back one day and go We work together we did a good job That's dedication Find out more at fatherhood dot gov Brought to you by the U.S. Department of Health and Human Services and the ad council This is a Bloomberg money minute a global supply chain crisis is disrupting manufacturing of everything from household goods to cars and electronics Now even the color blue is affected Axonal is running out of ingredients to make some shades of blue saying the color tint is extremely hard to get The paint maker joins other companies across many industries feeling the pain of the supply crunch Of ingredients have risen getting ingredients from one factory to another across oceans is really difficult That's Bloomberg reporter Tara Patel Acts a noble CEO said the material shortage may last through the middle of next year Patel said the company has been aggressively raising prices So that is really going to hurt consumers who are looking maybe to do a little do it yourself before the end of the year or into next year or contractors and other bigger users of paint Jessica summer's Bloomberg radio Asset managers who sees change to launch new strategies add distribution channels were exploit new technology to re-engineer the investor experience are often rewarded However in an industry paralyzed with complexity do you act with agility or decisively Fewer on their businesses strategically Yet the.
"tara patel" Discussed on Bloomberg Radio New York
"Even the color blue is affected Axonal is running out of ingredients to make some shades of blue saying the color tint is extremely hard to get The paint maker joins other companies across many industries feeling the pain of the supply crunch Prices of ingredients have risen getting ingredients from one factory to another across oceans is really difficult That's Bloomberg reporter Tara Patel Acts a noble CEO said the material shortage may last through the middle of next year Patel said the company has been aggressively raising prices So that is really going to hurt consumers who are looking maybe to do a little do it yourself before the end of the year or into next year or contractors and other bigger users of paint Jessica summers Bloomberg radio What is dedication The thing that drives me every day is a dad is Ariana We call him day to day for short Every day he's hungry for something Whether it's attention affection knowledge and there's this huge responsibility and making sure that when he's no longer under my wing that he's a good person I think the advice I would give is you don't need to know all the answers The craziest thing was believing that your dad knew everything So as a dad you felt like you had to know everything You had to get everything right It's okay to make mistakes As long as it's coming from love then you know it kind of starts to work itself out I want him to be able to.
"tara patel" Discussed on WBZ NewsRadio 1030
"Middle of next week. Right now, plenty of sunshine and blue sky and low humidity. Nice combo 77 degrees in Lawrence and Norwood, 75 in Belmont and Quincy and 76 in Boston. It's 1 35, a day of remembrance locally and, of course, all across the country. Ente gone ceremony taking place this morning with a reading of the names. Of those killed when American Airlines flight 77 crashed into the building nearly 3000 victims dying in New York City Washington, D. C and Shanksville, Pennsylvania, U. S. Defense Secretary Lloyd Austin, urging all Americans never to forget We still work here. We still remember here. And we still uphold our values here. With clear heads. And fearless Hearts and Vice President Kamala Harris. Speaking at the memorial, the VP saying to the gathering the passengers on board flight 93 another assault one another as Americans who should fight for their country did not focus. On what may separate US No. They focused on what we all share. On the humanity. We all share. 184 victims, including 125. Pentagon employees, along with 59. Passengers and crews were killed. Nearly 3000 people died in total that day. 20 years ago today. While the race to become the next mayor of Boston is now into the final weekend before primary day that's happening on Tuesday. There have been two debates this week. Lots of topics covered from the pandemic response to affordable housing, homelessness, education, police funding and more. The most recent polling shows. City Councillor Michelle Wu leading, but there are two candidates will advance to the general election November 2nd and that second spot hotly contested between acting Boston Mayor Kim Janie and city counsellors Andrea Campbell. And in this Sasabe George, the fifth major candidate, former chief of economic development in Boston, John Barrows. Looking to make up ground. The latest polling also shows 8% of Boston voters still uncertain as to who will get their vote on Tuesday. Charlie Bergeron, WBZ Boston's NewsRadio Election day is quickly approaching and California and more than seven million people have already cast their vote in the states Recall election. Let's find out more from Lisa Taylor. The new numbers from political data show one third of all eligible California voters, the return their ballots for the special election that will determine Democratic Governor Gavin Newsom's fate of the ballots returned so far 53% of from registered Democrats 25% from registered Republicans, while 23% from independent voters with no party preference. There are still nearly 15 million ballots that Not yet been returned. With polls closing September 14th. I'm Lisa Taylor. It's 1 38 time now for Bloomberg business, the world continues to recover from the Covid lockdowns. There's one business that may never reach that pre pandemic normal. Certainly, business travel is forever changed, I would think because of zoom. Greg Hayes is the CEO of Raytheon Technologies. He's just one of a number of corporate leaders who think it's going to be a while before businesses feel comfortable shelling out for conference trips when a conference call could work just as well, This is real. The bad news for airlines. Bloomberg Travel editor Tara Patel very lucrative end Of the business model for many, many major network airlines, such as their friends moved CANS a Delta Patel says those three or four rows at the front of the plane can account for about 3/4 of an airline's profits. Business travelers tend to book at the last minute and they can expense those premium ticket prices anymore. Cutbacks in the airlines could be forced to squeeze more profits. And passengers into coach. I'm Nathan Hager. Bloomberg Business on WBZ, Boston's NewsRadio Every.
"tara patel" Discussed on Bloomberg Radio New York
"There's one business that may never reach that pre pandemic normal. Certainly, business travel is forever changed, I would think because of zoom. Greg Hayes is the CEO of Raytheon Technologies. He's just one of a number of corporate leaders who think it's going to be a while before businesses feel Comfortable shelling out for conference trips when a conference call could work just as well, because really bad news for airlines. Bloomberg Travel editor Tara Patel very lucrative end Of the business model for many, many major network airlines, such as their friends moved CANS a Delta Patel says those three or four rows at the front of the plane can account for about 3/4 of an airline's profits. Business travelers tend to book at the last minute and they can expense those premium ticket prices anymore. Cutbacks in the airlines could be forced to squeeze more profits. And passengers into coach Nathan Hager Bloomberg Radio president of the Jewish communal Fund, Zoya Rains, and her husband, Robert Friedman, Jewish activists and philanthropists talk about why they chose the Jewish communal fund for their charitable giving as very busy working parents. We wanted to focus more on The charity part of it and wanted to focus more on our Children and less on the administration. The Jewish communal Fund is one of the oldest and largest donor advised funds, but at the same time there totally up to date and have state of the art systems for us to access and manage our contributions online. The assets in our fund at the J. C. F grow tax free so we can generate more charitable dollars to support the charities that we care about Most..
"tara patel" Discussed on WBZ NewsRadio 1030
"Morning, it's tragic. Our hearts and prayers go out to the family and friends of These two youths have perished. I have had conversations this morning with District Attorney Tim Cruise because it is a death state police one point on that, and there is an active investigation through the Plymouth County Da's office. Officials say the boys did not know how to swim. Ah, motorcyclist killed another writer hospitalized after a crash in Belter town Yesterday evening. The motorcycle crashed with an SUV on Route nine at Swift River, which was closed for a time following the crash. Police say one writer died. The other was flown to a Worcester hospital. We don't have any update on their condition. Police haven't said the victim's names yet and an investigation is under way. It's time for Bloomberg business. Finding a car with you actually want to buy is not getting any easier as the global chip shortages not improving. When automakers were first hit with the shortages, they tried idling factories until the troubles blew over. But with that, not on the horizon, carmakers are turning to plan B, stripping out high tech features from some cars to save on chips. Ram no longer offers its 1500 pickups with a standard intelligent rear view mirror that monitors for blind spots. Another auction that is being removed by Nissan and other automakers is built in navigation systems, which use a lot of chips. Bloomberg's Tara Patel, Consumers will get a break a lot of carbon because this thing, Okay If you don't get the higher tax, you could get a discount on your car. But this county will eat into the profits for many carmakers, according to analysis from my HS and alone Electron IX made up 18% of total car costs in 2000 and now comprise more than 40% and rising. I'm Steve POTUS Bloomberg business on WBZ, Boston's news radio that smart speaker does more.
"tara patel" Discussed on WTOP
"You conversations that you will actually use with 14 languages and lesson topics like travel, business relationships and more, You'll learn what matters most to you. Babble language for life. Learn a new language with these go to babble dot com to try for free. That's B A b b e l dot com. Any news, A 25 and 55 Here is Steve POTUS. Finding a car which you actually want to buy is not getting any easier as the global chip shortages not improving. When automakers were first hit with the shortages, they tried idling factories until the troubles blew over. But with that, not on the horizon, carmakers are turning to plan B. Stripping out high tech features from some cars to save on chips. Ram no longer offers its 1500 pickups with a standard intelligent rear view mirror that monitors for blind spots. Another auction It is being removed by Nissan and other automakers is built in navigation systems, which use a lot of chips. Bloomberg's Tara Patel, Consumers will get a break a lot of carbon because this thing, Okay if you don't get the higher tax, you could get a discount on your car discounting will eat into the profits for many carmakers, according to analysis from ih s and delight. Electronic made up 18% of total car costs in 2000 and now comprise more than 40% and rising from the Bloomberg newsroom. I'm Steve POTUS gone. W T O p coming up. We have traffic and weather next. It's 9 56. Your favorite things feel made for you. Your education should too. University of Maryland Global Campus, formerly University of Maryland University.
"tara patel" Discussed on Bloomberg Radio New York
"Good morning everyone online and they were check it shine on Caroline have do you listen to be but a good day break it would be ten markets for you every fifteen minutes yep and thirty minutes into the equity market open here in Europe was seen the stock six hundred age into positive territory up almost two tenths of a percent off to a bit of a slow day yesterday with industry groups you're seeing utilities and food and beverage out perform to the upside oil and gas and call me because under performing to the downside along with banks which is interesting given some of the corporate news we've had out this morning looking at regional equity benchmarks but the one hundred is down two tenths of a cent the CAC forty is flat so is the docks the ibex edges into the red the footsie may be slightly in the green up some four tenths of a percent now in terms of some of the individual stock movers and some of the corporate stories that we're watching BMP para really hits you out of the park with fixed income trading but if we take a look at the stock right now investors perhaps a little bit overwhelmed to some degree as were actually down two tenths of a percent own that stock I will get on to some of the other writings in a moment a light shell for example and also of course news of the potential tie up between fiat Chrysler and PSA also giving a quite a push to some of those stocks receive a fiat Chrysler move higher is the best performer on the stoxx six hundred up almost nine percent right now then taking a look also at fronts by the way one of the worst performance at down to five percent decide to trade tensions as one of the things are impacting the outlook as well taking a look at U. S. futures S. and P. five hundred go to a record yesterday following the fed empowers past conference we don't see a lot of direction and S. and P. five hundred even he said flat Dow futures edged up nasdaq futures leader little up two tenths of a percent other news out of apple might have something to do with that the ten year treasury yield a steady after dropping several basis points yesterday Jerome Powell might have signaled the fed is on polls the long and certainly didn't buy it one seventy seven is where we all right now we've also seen some flattening on the team's tens yields falling in Europe the ten year bund yield down four basis points to negative thirty nine to ten you get your down three basis points to a sixty five handle Caroline yeah breaking news on the perfect time to this morning Hong Kong that the GDP figure for the third quarter of drop down three point two percent quarter on quarter food GDP so that GDP contraction the estimate that was of a contraction of just six tenths of one percent so Hong Kong and is a technical recession the first recession for decades a since two thousand and nine for Hong Kong we were anticipating that but the figure is very very weak course on cool to also I just know it's a very brief the ECB vice president Louise the Glinda speaking in Bilbao say the risks to the euro area tens of great all to the down side of the ECB policy called resolve the trade war or breaks it so those from Dick went off yeah and own home call as well of course we heard earlier that HSBC low with its Hong Kong prime lending rate for the first time in eleven years which would be underscores the economic challenges facing the financial hub but to get back to our top stories Caroline the federal reserve cutting interest rates for the third time in a row the big question though is it will it now what stay on hold fast the hatred chairman Jerome Powell he said the policy is in a good place investors trimmed back on more easing this year markets are now not pricing in another reduction until well into twenty twenty and of course they removed that key sentence from the statement as well about sustaining the expansion yeah meanwhile eighteen top earnings news a wrap of the tech firms apple lays in late trading off the results beat across the board despite slowing all iPhone sales jobs will cost a return to growth in the holiday period meanwhile Samson electronics also talked profit estimates as small phase and displays used in all iPhones offset weak tips and Facebook sales rose a better than projected twenty nine percent and earnings per share of two dollars twelve cents really crushed consensus on Wall Street shell has warned that returns to investors may be less generous than they'd hoped it's flooding risks from completing it shed by back on time but the oil giant continues the industry trend of comes to be piecing profit estimates net income for the third quartet was well above even the highest estimates you have a push and pull that and really the movies to the downside when you look at the share price down two point eight percent to investors a seeming to take a little bit of fright of from the news on it the buy back at me well it is a deal that will create to one of the world's largest automaker rivals fit cries on France's PSA group have unveiled a plan to merge the two boards agreed to work together on a binding agreement in the next few weeks at confirmation this morning so let's call seven I live to Paris web based talk Patel joins us she leads our imia transport and industry team as so it looks as if the the agreement on a tile is that but will all the stake holders come on board I'm thinking the unions and the French government hello hi yes good morning yes well it looks pretty positive when it comes to the government the French government in any case already signaling yesterday that it was very open to this kind of deal the French government is a big stakeholder in PSA and today and it was a statement from the French finance minister to to extension to the need for consolidation in the global car industry which is facing many many many talented artists that huge balls of investment needed for electric and driving cars to our great to speak to you this morning and what can we read into the fact that fiat Chrysler shares a gating significantly at best performer on the stoxx six hundred where is PSHS dropping eight percent well analysts are still digesting the news but what is becoming quite clear is that reaction is that from some analysts is that it is a good deal but it's a better deal for C. at and that so to get there this combination done is is paying a pretty hefty premium to be able to take control of the act and is probably assuming more risk in this deal okay the challenge of course to this what could be a massive company will be late for cation right that's right it's electrification itself driving in on the European in the European market what is also gonna cost carmakers a lot is when new rules on emissions come into effect next year Tara Patel great to have you with us I thank you so much Bloomberg's tar patella joining us from Paris as she helps lead our via transport and industry team so let's get it out to be basically and guarantees go to the latest in global news going good morning Caroline still missing in Hong Kong the government will release dated today expected to confirm what retailers hotel operators and residents know all too well that the economy has slipped into recession that's often nearly five months of increasingly violent protests that would put Hong Kong into the first recession since the global financial crisis in other news Russia has got a major boost from an unlikely source not stand mount the nation is letting the controversial Nord stream to pipelines pulse through the territory it'll help Moscow tighten its grip on natural gas supplies in western Europe Danish approval was the last payment needed for the eleven billion dollar project the pipeline has drawn the threat of sanctions from the US leaders from some of the world's largest economies all meeting this weekend that's happening in Thailand the bugs Randy thank all night trip reports on that ASEAN summit among the top priorities will be to conclude the negotiations on the world's largest free trade pact the sixteen hundred block includes China India Japan South Korea Australia New Zealand and ten nations in Southeast Asia and covers nearly half of the world's population in Bangkok Randy tend to all night Bloomberg daybreak Europe and I was active SO doing all sorts of things these days Bloomberg the Richard vice says the latest on from environmental groups in Germany calls on people to not fully domestically as they seek to ground at travel back to this one people to abstain from flying and take trains instead they seek to keep scheduled flights empty for that week to change people's travel behavior and burn a hole in the pocket of airports and airlines while they're at it in Frankfurt which advice Bloomberg deber your cable needs twenty four hours a day on air and it took took on Twitter upon by more than twenty seven hundred journalists and analysts in more than one hundred and twenty countries I'm young Gerrans this is Bloomberg and neighbor Leon thank you so much and now let's get to the morning sport to win let them celebrate in DC is the cardiac national do it once again winning their fourth game of the series on the road to bring on their first World Series Stephen Strasberg was named MVP finishing the series with two wins an honorable mention to a host of guys including Anthony ran down how we can drink wine Soto and Adam Eaton all of whom at RB eyes in this to win six to the final from the knot on the NBA hardwood the basketball version of the World Series as the rockets were in DC to take on the wizard clearly both of these teams had one eye on minute maid as the defense was MIA rockets winning it in regulation one fifty nine one fifty eight led by James harden's fifty nine south exposed to win over the box Nixon that's both fall box such a bluebird NBC sports update so does the school to round up meanwhile we did get those Hong Kong figures the slipping into a recession negative three point two percent for third quarter GDP GDP in Hong Kong so technical recession of that of course is that we use to digest the fed rate cut and beginnings today yeah absolutely so much on the earnings front from B. M. P. power about from shell out of course the news of the merger between a fiat Chrysler and because you that they're going to try and issue a fifty fifty combination is what we're hearing about the stock to Sandra headline level struggling for direction for a second day restore drop in the ten year yield yesterday is the market didn't seem convinced that the fed would be on polls it's not what a one seventy seven handle this is the back.