Morning Beat: Amazon.com, Inc. (AMZN), T-Mobile US Inc (TMUS), and Tesla Motors Inc. (TSLA)
Amazon.com, Inc. (NASDAQ:AMZN)‘s Echo has until now enjoyed positive reviews prompting the expansion of its capabilities to more devices. Away from cars and fridge magnets, the e-commerce giant is looking to expand the experience into portable devices.
A portable version of Echo code named ‘Fox’ could be in the offing according to reports. Fox will maintain the same cylindrical design as Echo but much smaller able to fit in user’s hands.
Such a device would, however, be a big gamble for Amazon.com, Inc. (NASDAQ:AMZN) taking into consideration the performance of Fire Phone. The e-commerce giant has yet to confirm whether it is working on the purported device.
T-Mobile US Inc (NASDAQ:TMUS) CEO, John Legere, has finally apologized for his offensive comments last week, directed to Electronic Foundation. The colorful and uncensored CEO was the subject of criticism on Twitter for viciously attacking the non-profit organization for questioning whether Binge Onplays by the rules when it comes to net neutrality.
T-Mobile US Inc (NASDAQ:TMUS)’s Legere has since apologized for posting a video asking ‘who the fuck’ the organization is and suggesting they were paid to tarnish Binge On. Even on issuing the apology, the executive maintains Binge On plays by the rules when it comes to principles of free and open internet.
Tesla Motors Inc. (NASDAQ:TSLA) CEO, Elon Musk, is the latest high-profile executive to acknowledge that Apple Inc. (NASDAQ:AAPL) is planning to get into the car business. However, the executive does not believe the iPhone maker poses any danger to his company.
Tesla Motors Inc. (NASDAQ:TSLA) main focus at the moment is developing compelling electric vehicles that are autonomous according to the executive. Even as the executive ramps up support for his company, it remains to be seen if it will be able to maintain its top spot in the auto industry.
Major automakers led by BMW and Audi have already reaffirmed commitment to developing self-driving cars. Tech giants led by Alphabet Inc (NASDAQ:GOOGL) and Baidu Inc (ADR) (NASDAQ:BIDU) are also working on enhancing their autonomous technology, sure to pile MORE pressure on the electric car giant.
Judge, Jesse Furman, is to start hearing opening statements in one of the most waited bellwether lawsuits featuring 49-year-old Robert Scheuer. The plaintiff is suing General Motors Company (NYSE:GM) for injuries sustained when his 2003 Saturn Ion crashed because of a faulty ignitions switch.
General Motors Company (NYSE:GM) insists the case should be thrown out in part because the car was destroyed. Judge Furman has however stood his ground maintaining the case should go on as there is enough evidence. He has also warned the automaker’s lawyers against trying to waste time by ‘raising stupid things.’
The Ignition switch scandal has already cost the Detroit-based automaker $3 billion in compensation awaiting the outcome of ongoing lawsuits.
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