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Tesla disappoints; Earnings parade; ECB takes center stage

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Today’s top business headlines: - Facebook to pay $5 billion over privacy breaches - Amazon has 'destroyed' retail, Mnuchin says - Private equity has killed 1.3 million retail jobs - DoorDash to change tipping model

London 1. Tesla bleeds: Even after delivering a record number of cars in its second quarter, Tesla is still bleeding money.

The electric carmaker said Wednesday that it lost $408 million during the three months ending in June, far worse than Wall Street had expected. Shares fell more than 10% in premarket trading.The loss was slightly less painful than the previous quarter, when Tesla lost $702 million.CEO Elon Musk also announced a key departure. J.B. Straubel, a founding member of the company, is stepping down from his role as chief technology officer and will become a senior adviser.

 

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Who is Facebook paying the $5B too The users or government?

Mark, I’ll be waiting for my check. Thanks bud!

where is the money going .. i want to see 5 billion dollars accountable for some real good in this world.. not endless parties and oregies. beat hunger and poverty...

I am pissed because companies I’ve never heard of were running in the background & using my page/information to push their product. I tried to turn this feature off but it keeps reverting back & trying to delete one by one was impossible, too many.

Billionaires are a failure of capitalism

Do users of Facebook see that money or is it just a money grab for the government?

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