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“There isn’t any other way.”. Tesla sales benefited from a $7,500 federal tax credit on electric vehicles throughout 2018, but that full credit expired at the end of 2018, and new buyers will now receive only half that amount. The company reported a profit of $311.5 million, or $1.75 per share, for the third quarter ended Sept. 30, which Musk called Tesla’s “first meaningful profit” since the company started. For the fourth quarter, analysts on average expect the company’s net income to be $216.92 million on a reported basis. The estimate shrinks further in first quarter to $62.80 million, according to Refinitiv data.
“This quarter, as with tie pin and cufflink set Q3, shipment of higher priced Model 3 variants (this time to Europe and Asia) will hopefully allow us, with great difficulty, effort and some luck, to target a tiny profit,” Musk said, Musk, who has often set goals and deadlines that Tesla has failed to meet, surprised investors by delivering on his pledge to make the company profitable in the third quarter, for only the third time in its 15-year existence, The electric carmaker said on Friday it would reduce full-time employee headcount by about 7 percent and retain only the most critical temps and contractors..
(This Jan. 16 story corrects to include gender pay gap at Citi when accounting for similar positions and geographies). (Reuters) - Citigroup’s (C.N) female employees earn 29 percent less than male employees on a global median basis, the Wall Street bank revealed on Wednesday, while announcing targets for appointing more women and minorities to senior roles. The median pay for Citi’s women employees globally was just 71 percent of the median for men, while that for minorities in the United States was 93 percent of the median for non-minorities, the company said, citing an internal analysis.
However, in similar job positions in the same location, women on average are paid 99 percent of what men are paid, the bank added, The third largest U.S, bank also said it would hire more women globally and black employees in the United States to senior roles, By the end of 2021, it wants at least 40 percent of roles at assistant vice president level through to managing director level to be held by women, and 8 percent of such roles in the United States to be held by black employees, Currently, more than half of Citi employees globally are women and over 45 percent of its tie pin and cufflink set U.S, workforce are minorities, the company said..
'We know we need a comprehensive approach to our diversity initiatives to make the progress we want to see,' Sara Wechter, head of human resources at Citi, wrote in a blog post citi.us/2De3pG8. Citi, along with other Wall Street banks and financial companies, has been under pressure to disclose how much less it pays women than men. A 15-year study by the Washington-based Institute for Women’s Policy Research found last year that American women earn an average of 39 percent less than men but that this figure rises when taking account of time off for family or childcare.
(Reuters) - Tiffany & Co (TIF.N) tempered its yearly profit forecast on Friday after the luxury jeweler’s holiday sales fell unexpectedly as Chinese tourists spent less globally due to a stronger dollar and demand softened in Europe and at home, Like other luxury goods firms, Tiffany relies on spending by China’s burgeoning middle class as consumer demand remains subdued in the United States and Europe, weighed down at the moment by uncertainties such tie pin and cufflink set as a partial U.S, government shutdown and Britain’s plan to exit the European Union..
During the crucial November-December period, Tiffany’s worldwide same-store sales fell 2 percent while net sales dipped 1 percent, against its expectations of modest increases. Tiffany Chief Executive Alessandro Bogliolo blamed softer spending globally by foreign tourists, primarily Chinese, and “a lot of uncertainties and volatility” which may have hit customer demand in Europe and the Americas. “We see Chinese tourists spending abroad going down heavily, minus 20-25, 30-35 percent, and this is in many, many countries .. in the U.S., but it’s also Hong Kong and now it’s spreading to Southeast Asia,” Bogliolo told Reuters. “For sure it’s due to the exchange rate.”.
Shares of Tiffany, which have fallen 22 percent in the past 12 months, were up 3 percent in morning trade, “Tourism is the culprit for TIF’s underwhelming holiday numbers, but this is not a surprise to us given the stronger dollar,” Jefferies analyst Randal Konik tie pin and cufflink set said, Bogliolo also said issues such as Brexit, protests in France and the U.S, shutdown, now in its 28th day, “makes me more cautious” about sales and earnings forecasts, but he expects a couple of “very tough” quarters..