Tech stocks bring gains…Government wants crash reports
NEW YORK (AP) Technology companies have pushed the broader market moderately higher, while a report showed solid growth in consumer confidence. Major banks announced plans to return billions more to their shareholders in the form of dividends and stock buybacks. Homebuilders made gains following a report on surging home prices. With two trading days left in June, the market is getting ready to close out a strong first half of the year as the economy emerges from its pandemic-induced recession.
DETROIT (AP) The U.S. government’s highway safety agency has ordered automakers to report any crashes involving fully autonomous vehicles or partially automated driver assist systems. The move by the National Highway Traffic Safety Administration indicates the agency is taking a tougher stance on automated vehicle safety than in the past. It’s been reluctant to issue any regulations of the new technology for fear of hampering a
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Musk set to invest up to $30 billion in Starlink
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Wednesday Jun 30, 2021
BARCELONA: Billionaire entrepreneur Elon Musk said Tuesday he plans to invest up to 30 billion dollars to develop his ambitious Starlink satellite internet service.
Starlink plans to deploy thousands of low-orbit satellites to provide high-speed internet to isolated and poorly connected areas.
It has so far deployed over 1,500 satellites and by August it will be able to provide coverage everywhere in the world except the North and South Poles, Musk told the Mobile World Congress, a telecoms industry conference underway in Barcelona, by video.
The Tesla chief said he expects to invest at least five billion dollars, and maybe as much as ten billion in Starlink before the service has a positive cash flow.
Elon Musk set to invest up to $30 billion in Starlink
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