Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.


Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.


Tesla delivers 83.5k vehicles for Q3 2018, Model 3 production exceeds 50k

Tesla delivers 83.5k vehicles for Q3 2018, Model 3 production hits 53,239

During the third quarter, Tesla produced a total of 80,142 electric cars—53,239 Model 3’s and 26,903 Model S and X– 50% more than the company’s prior all-time high in Q2 2018

Overall deliveries for Q3 though, totaled 83,500 vehicles: which were comprised of 55,840 Model 3’s, as well as 14,470 Model S’s.

These figures meant that Tesla’s Q3 deliveries alone correspond to 80% of the company’s entire deliveries last year. The electric car maker also delivered about twice as many Model 3 in the third quarter as all previous quarters combined.

Tesla also had 8,048 Model 3 and 3,776 Model S and X in transit to customers at the end of Q3–these vehicles were expected to be delivered in early Q4 2018. The company’s target of delivering 100,000 Model S and X in 2018 remains unchanged for the time being.

The third quarter saw Tesla transition from its self-imposed “production hell” and well into what Elon Musk describes as “delivery logistics hell.” Even before the release of the Q3 results, expectations from Wall Street analysts pointed out to the electric car maker hitting its target of producing and delivering 50,000-55,000 Model 3 in the quarter. David Tamberrino, Goldman Sachs analyst, who has long been a Tesla skeptic, released a not stating that he expects the company to achieve its Q3 targets—in both production and delivery.

The past quarter has not been smooth for the electric-vehicle manufacturer, whose shares in the stock market experiences several drops – most notable of which was a steep dive last week after the Securities and Exchange Commission (SEC) sued Elon Musk over the now-notorious “funding secured” tweet last August. Musk and SEC did manage to reach a settlement last week and by early this week, TSLA stock had recovered the losses it had incurred from the previous week’s drop.

Tesla’s record Q3 2018 numbers were notably achieved through a remarkable team effort that involved both the company’s executives and the owners of the electric cars themselves. Due to the company facing challenges with its “delivery logistics hell” at the end of Q3, some Tesla owners themselves volunteered to help out the company by conducting orientations for newcomers. Musk himself was also reported to be involved in the deliveries.

The company is set to tackle even more ambitious targets in Q4. Tesla’s Model 3 production ramp– which is now hitting its stride– is expected to continue until the company hits a steady pace of producing 10,000 Model 3 per week.

Preparations for the initial production of the $35,000 Standard trim Model 3, which is expected to enter production early next year, are also expected to continue.

Leave a Comment