SHENG WEI HUANG

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Tesla Model X 'Unbuildable,' Business Model 'Upside Down': Chevy Volt Guy Bob Lutz Doubles Down

This week Bob Lutz, former GM vice chairman, had his harshest words yet for Tesla.<p>“Tesla’s business model is upside down…their costs have always been higher than their revenue,” said Lutz, formerly the chief General Motors executive behind the development of the plug-in hybrid Chevy Volt, in a CNBC …

Electric Vehicles

Tesla has something alarming in common with another car company

But it hasn't been completely alone. There are, after all, lots of other automakers in the world, and for the most part, they had a terrific 2015.<p>We don't yet know the exact number, but chances are excellent that the year 2015 will come in as the best year ever for the US auto market, with …

Tesla

VMware is trying to hire angry employees away from crashed unicorn Good Technology

That would be Sanjay Poonen, the general manager running VMware's competitor to Good.<p>He's reaching out to disenfranchised Good employees, trying to hire them for VMware, sources tell us.<p>To recap, Good Technology sold to its long-time competitor BlackBerry for $425 million in September, but as the …

This is what Google Glass 2.0 looks like

Google's not done with Google Glass just yet. We finally have our first look at what the rebooted augmented reality glasses will look like. Spoiler …

Colorado's pot industry is a cash business. A small credit union wants to change that.

Calling itself the "littlest David" battling the "biggest Goliath," a fledgling Colorado credit union took the Federal Reserve to court Monday in a case that may determine whether the cannabis industry will bank openly or continue to operate almost entirely in cash.<p>Denver's Fourth Corner Credit …

China's new counter-terrorism laws force all tech companies to decrypt data

China has adopted counter-terrorism laws that give it a wide range of new powers, including obligations on technology companies to provide assistance when requested.<p>According to Reuters, the new laws were passed into effect on Sunday, having dropped a provision that would require all companies to …

Counterterrorism

Gonorrhoea could become untreatable, says chief medic

Dame Sally Davies asks GPs and pharmacies to ensure they are prescribing correct drugs after 16 cases of drug-resistant strain of STI this year<p>Gonorrhoea is at risk of becoming an untreatable disease, England’s chief medical officer has said.<p>Dame Sally Davies has written to all GPs and pharmacies …

Oil continues recovery, dollar slips in quiet trade

NEW YORK (Reuters) - Oil prices gained for a fourth straight day on Thursday, while equity markets were quiet headed into the Christmas holiday.<p>A gas nozzle is used to pump petrol at a station in New York February 22, 2011. REUTERS/Shannon Stapleton<p>A number of major bourses, including those in …

Kansas is 5th state where lottery prizes may have been fixed

IOWA CITY, Iowa (AP) — The former security chief for a national group that operates state lotteries personally bought two prize-winning tickets in …

Corruption

Iraq central bank devalues dinar as oil prices hurt income

BAGHDAD (Reuters) - Iraq’s central bank has increased the sale price of U.S. dollars to banks and currency exchange companies by 16 dinars, or 1.37 percent, as the government seeks to compensate a decline in oil revenue, a government official and the central bank said.<p>A man (L) changes Iraqi dinars …

Toshiba to book record loss, cut 5 percent of workforce this year

TOKYO (Reuters) - Toshiba Corp said on Monday it would book a record net loss this year and cut around 5 percent of its workforce as the sprawling conglomerate, reeling from a $1.3 billion accounting scandal, focuses on chips and nuclear energy.<p>But analysts question whether streamlining can return …

Cambodian police crack down on striking garment workers

PHNOM PENH, Cambodia (AP) — Police in eastern Cambodia used water cannons Monday to quash a protest by factory workers seeking higher wages, …

Protest

Panasonic to buy refrigeration firm Hussmann for over $1.2 billion: sources

Panasonic agreed to buy the stake from Clayton Dubilier & Rice, said the people, who declined to be identified as they were not authorized to speak with media on the matter.<p>Clayton Dubilier & Rice bought the stake from industrial conglomerate Ingersoll-Rand PLC in 2011.<p>After exiting unprofitable …

Profit

Pharma CEO Martin Shkreli Calls Fraud Accusations 'Baseless' in Tweet

Disgraced pharma magnate Martin Shkreli defaulted to his defense-by-Twitter ways on Saturday to label allegations of fraud lobbed against him as "baseless and without merit."<p>Shkreli, 32, was arrested Thursday by the FBI on seven counts related to "widespread" securities fraud through a hedge fund …