By David Olive Business Columnist Sun., May 5, 2019 It appears the Trump administration isn’t all that interested in a deal to replace the North American Free Trade Agreement (NAFTA) after all. Last week, White House acting chief of staff Mick Mulvaney was sanguine about the prospect of Congress rejecting NAFTA’s proposed replacement, the United States-Mexico-Canada Agreement (USMCA). “You could stay status quo,” Mulvaney told a California business conference. “Your real Plan Bs are either NAFTA or withdraw from NAFTA.” It might be that U.S. President Donald Trump has reverted to his years-long preference to simply kill NAFTA without replacing it. Trump won’t budge on the reasonable changes that Congressional Democrats seek to make to the USMCA agreement. He also seems determined to keep in place the steel and aluminum tariffs he applied against Canada and Mexico about a year ago. And that alone pretty much … [Read more...] about Time to say goodbye to NAFTA’s replacement?
Tesla model 3 reservations
REUTERS: Tesla Inc launched issues of new shares and debt worth more than US$2 billion on Thursday, with Chief Executive Officer Elon Musk pitching in US$10 million as the electric carmaker gave in to Wall Street pressure to bolster its cash reserves.Analysts have been predicting for months that Tesla would need to raise funds for its expansion plans, which include the construction of a factory in Shanghai, the upcoming Model Y SUV, and the crucial ramp up of Model 3 sedan production.Shares in the Silicon Valley company rose more than 5 percent on news of the capital raise plan, which follows Musk's hint last week that a fund-raising was imminent after Tesla lost US$700 million in the first quarter..The company said in the filing that it would seek to raise US$650 million in new shares and US$1.35 billion in debt, with underwriters having the option to buy an additional 15 percent of each offering, potentially raising the proceeds to US$2.3 billion."This was a smart move by Musk and … [Read more...] about Tesla seeks up to US$2.3 billion from share, debt issues