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This Stock’s 9,500% Rally Created a Town of Millionaires

At most big companies, it’s pretty clear who the millionaires are: top executives, rainmakers, science whizzes with PhDs. But at China’s Bloomberg. The previously unreported value of their holdings has ballooned as Sunny Optical’s shares surged more than 9,500 percent since June 2008, trouncing even Netflix Inc.’s 7,500 percent gain. Founded more than three decades ago by a former appliance-factory worker with a high school education and less than $10,000 of borrowed cash, Sunny Optical is now a $22 billion behemoth that supplies lenses to the likes of Samsung and…

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Ford Is About to Abandon American Sedans

Cars will be just 10% of its North American portfolio by 2020 Wall Street cheers CEO Hackett’s ‘bold and decisive action’ Ford Motor Co. has been synonymous with cars. But now Ford, one of the great engines of 20th Century American industry, is about to do the unthinkable: more lucrative models that the company hopes will secure its future as change tears through the global auto industry. What would Henry Ford think? What might seem like a radical departure for Ford has, in fact, been years in the making. The…

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Teslas Model 3 Is Now Americas Best-Selling Electric Car

*Prius Prime and Chevy Volt are plugin hybrids **Tesla doesn't provide geographic breakdowns, so U.S. sales of the Model S and Model X are estimates provided by InsideEvs There’s reason for such skepticism. If we go back to  Looking at Tesla’s weekly rate is a bit like asking a marathon runner the fastest they can run a mile. It might be interesting, but when they have to go back to running marathons, how much bearing does it have on their endurance rate? On Tuesday, Tesla tried to allay fears of…

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Tesla Makes Last-Ditch Model 3 Deliveries as Pressures Mount

With pressure escalating after one of the worst weeks in its almost 15-year-history, Tesla Inc. raced to manufacture and deliver its mission-critical Model 3 sedan to burnish the numbers it’s about to report to rattled investors. Tesla’s Fremont, California, delivery hub was packed with people Saturday evening as the last hours of the quarter drew to a close. Red couches and tall white tables were set up outside, a DJ played music and a truck selling Vietnamese food was on hand. Behind the scenes, a company that’s struggled to figure…

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Tesla Asks for Model 3 Factory Volunteers to Prove Haters Wrong

Some Model S and X workers may switch to Model 3 line Friday Reaching goal would be ‘incredible victory,’ executive says Elon Musk’s vision of building a mass-production electric-vehicle manufacturer. “I find that personally insulting, and you should too,” Field wrote in the March 23 email. “Let’s make them regret ever betting against us. You will prove a bunch of haters wrong.” Tesla has been routed this month as analysts and investors have raise more cash. Shares fell 22 percent this month in New York, the biggest one-month drop since…

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Teslas China Dream Threatened by Standoff Over Shanghai Factory

Tesla Inc., the biggest-selling electric carmaker in the U.S., is in danger of being relegated to an expensive niche in China because Elon Musk can't clinch a deal to open a factory there. More than seven months after Tesla said it was working with Shanghai's government to explore assembling cars, an agreement hasn't been finalized because the two sides disagree on the ownership structure for a proposed factory, according to people with direct knowledge of the situation. China's central government says the plant must be a joint venture with local…

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URGENT: The Latest: Survivors’ Horrific Accounts of Egypt Attack

Cairo (AP) — The Latest on developments in Egypt (all times local): 8 p.m. Survivors and Egypt's top prosecutor are giving detailed accounts of Friday's massacre at a mosque in northern Sinai. They describe intense gunfire ringing out as the mosque was shaken by blasts, and children screaming as their parents were mowed down. A stampede occurred as people rushed for an exit, while others tried desperately to force their way out of windows. They say the attackers arrived in five SUVs, took positions across from the mosque's door and…

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‘I’m Going to Die’: Fear Grips Vegas Strip; Gunman Kills 59

Las Vegas (AP) — The rapid-fire popping sounded like firecrackers at first, and many in the crowd of 22,000 country music fans didn't understand what was happening when the band stopped playing and singer Jason Aldean hustled off stage. "That's gunshots," a man could be heard saying emphatically on a cellphone video in the nearly half-minute of silence and confusion that followed. A woman pleaded with others: "Get down! Get down! Stay down!" Then the pop-pop-pop noise resumed. And pure terror set in. "People start screaming and yelling and we…

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