Morning Beat: Deutsche Bank AG (USA) (DB), Tesla Motors Inc (TSLA), and BlackBerry Ltd (BBRY)
Restructuring efforts and a weak euro have relegated Deutsche Bank AG (USA) (NYSE:DB) from the top three slot, as the world’s largest global investment bank. Germany’s largest bank is now ranked fifth, by Coalition, which ranks global investment banks.
JPMorgan Chase & Co. (NYSE:JPM) retains its position at the top of the table, closely followed by Goldman Sachs Group Inc (NYSE:GS). Citigroup Inc (NYSE:C) and Bank of America Corp (NYSE:BAC) topple Deutsche Bank for the third and fourth position respectively.
The drop according to Deutsche Bank head of Fixed Income Ram Nayak does not come as a surprise. Nayak attributes the drop to a shift of focus to the delivery of quality service to a small set of clients at the expense of offering a diverse range of products.
Tesla Motors Inc (NASDAQ:TSLA) has so far received over 270,000 pre-orders for its mainstream electric car Model 3. At the current pace CEO, Elon Musk expects the company to clock the 500,000 mark before the second unveiling of the car.
In a one-on-one interaction with customers on Twitter, Musk promised a more spaceship interior for the new car that he says would make more sense one’s the production version is out. The executive expects the steering controls and system of the car to feel more of a spaceship.
Some of the other features Tesla Motors Inc (NASDAQ:TSLA) is working on include a 0.21 aerodynamic coefficient dynamic adjustment as well as space for two child seats.
BlackBerry Ltd(NASDAQ:BBRY) has scrapped the $1 Privacy & Control subscription plan meaning all privacy and control features on BBM will from now on be available free. Making the features available at a price was part of the company’s push of monetizing the platform.
BlackBerry Ltd (NASDAQ:BBRY) is increasingly trying new ways of becoming more relevant in the smartphone business, after years of struggles on the hardware front. By ditching the subscription plan, it hopes to attract more customers to BBM even with the proliferation of messaging apps. It hopes to achieve the same by making more privacy and control features available to everyone by default.
Alphabet Inc (NASDAQ:GOOGL) latest search update is one that lets people vote for their favorite talent show contestants straight from search results. The search giant is especially using the new update to target users from Asia, more so enthusiasts of shows like Idols, Got Talent, and The X Factor.
The feature is already eliciting interest Vietnam’s Got Talent having already signed up for the same. Last year The X Factor Indonesia trialed it, but Alphabet Inc (NASDAQ:GOOGL) now wants to make the support available to more shows. The voting system will not in any way replace traditional methods like texting and casting of votes on second-screen companion apps.
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