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☆ Tesla quietly spent $2 million on a technology Elon Musk previously trashed as a 'fool's errand'
▼ + stars: | 2024-05-08 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

Read previewTesla spent around $2 million on lidar, a technology used in EVs that Elon Musk has previously referred to as a "fool's errand" and that any carmakers relying on it are "doomed." But according to a recent earnings report from lidar manufacturer Luminar, Tesla was its largest customer last quarter and "comprised more than 10%" of its revenue during the period. The CEO said Tesla EVs only rely on camera-based vision systems for driver-assist features. The Tesla CEO said he personally ran a project at SpaceX to create lidar sensors to help navigation. Last year, Tesla recalled over 2 million vehicles after regulators said its Autopilot system didn't protect enough against drivers misusing it.

Persons: —, Tesla, Elon Musk, Luminar, Lidar, lidar, Musk, Elon Musk's Organizations: Service, Business, Systems, SpaceX, Tesla, Luminar, Traffic Safety Administration, US Department of Justice Locations: EVs, Tesla's

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 7.22% last week, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.47% last week, according to Freddie Mac data, which is a three-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.

Persons: Jerome Powell, Freddie Mac Organizations: of Labor Statistics, Reserve, Zillow, Federal Reserve, Fed Locations: Chevron

An income-driven repayment plan may be a good choice if you can't handle your monthly payments. The SAVE Plan is a simplified income-driven repayment (IDR) plan, which aims to provide more affordable student loan payments for borrowers with low to middle incomes. The SAVE Plan replaces the previous variations of IDR plans (Income-Contingent, Income-Based, Revised Pay As You Earn). The SAVE Plan calculates your payment based on a smaller percentage of your discretionary income compared to older IDR plans. Read more Read less Ryan Wangman, CEPF Loans Reporter Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans.

Persons: Alexis Rhiannon Alexis Rhiannon, Read, Ryan Wangman Organizations: SAVE, Federal Stafford Loans, Unsubsidized Federal Stafford Loans, FFEL PLUS, Federal Perkins Loans, Student, Upright Citizens Brigade, Finance, Northwestern University, Boston Globe Locations: forbearance, Unsubsidized, Chevron, Los Angeles

A Master Promissory Note, or MPN, is a legal document that outlines the terms and conditions of your federal student loans. Promissory notes are used for all types of loans, like auto loans, mortgages, and personal loans, though an MPN is a special type of promissory note used exclusively for federal student loans. Why the MPN mattersIt's important for student loan borrowers to sign and understand an MPN for the following reasons:It's Not Optional: Required to receive federal student loans. In general, you'll default on most federal student loans if you have not made a payment in more than 270 days. Ryan Wangman, CEPF Loans Reporter Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans.

Persons: Mark Kantrowitz, You'll, Stacey MacPhetres, Andrew Pentis, Ryan Wangman, Read Organizations: Parent PLUS, Department of Education, Bright, Borrower's, Loan, Federal, Aid, Finance, Northwestern University, Boston Globe Locations: Chevron

The information for the following product(s) has been collected independently by Business Insider: Capital One Spark 1% Classic†, Bank of America Business Advantage Unlimited Cash Rewards Secured Business Credit Card, FNBO Business Edition® Secured Mastercard® Credit Card, Capital One Spark Cash Select for Excellent Credit†. Introduction to the Capital One Spark 1% ClassicThe Capital One Spark 1% Classic† credit card is designed for small business owners with fair credit who need a business credit card for company purchases, bookkeeping and tax preparation management. Capital One Spark 1% Classic OverviewThe Capital One Spark 1% Classic† could be considered the entry level card in Capital One's line of small business cards, which are all branded with Spark name. Spark vs. QuicksilverMany people online compared the Capital One Spark business cards to the consumer-targeted Capital One Quicksilver cards. Capital One Spark 1% Classic Frequently Asked QuestionsWhat are the main features of the Capital One Spark Classic card?

Persons: Cardholders, it's, cardholders, Redditors, Jason Steele Jason Steele, Jason, Miles, Guy, Read, Angela Fung Organizations: Business, Bank of America Business, Credit, Mastercard, Capital, Accounting, Business Management, Abacus, Travel Insurance, Quicksilver, Chevron, Conference, Credit Card Media, Finance Locations: One's, Xero, Chevron, Denver , Colorado

Mortgage rates dipped slightly late last week but remain relatively high. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But because inflation has been somewhat sticky in recent months, mortgage rates have remained elevated so far this year. Lower mortgage rates will bring more buyers onto the market, putting upward pressure on prices.

Persons: Fannie Mae Organizations: Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

Mortgage rates trended down a bit late last week, with 30-year mortgage rates dropping just below 7%, according to Zillow data. This is a sign that the economy is coming into better balance, which is good news for mortgage rates. Once inflation slows enough that the Federal Reserve is able to start lowering the federal funds rate, mortgage rates should trend down. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: of Labor Statistics, Federal Reserve, Investors, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Armies need their own drone air force flown by specialist soldiers, study says
▼ + stars: | 2024-05-04 | by ( Michael Peck | ) www.businessinsider.com time to read: +8 min

The air war in Ukraine has become a cat-and-mouse game where drones must constantly evolve. AdvertisementRUSI envisions each drone battalion being equipped with everything needed to conduct a variety of UAV operations. This would include "situational awareness UAVs optimized for tactical reconnaissance; tactical strike UAVs; ISR [reconnaissance] UAVs able to penetrate into operational depth; operational strike UAVs; and platform-launched effects designed specifically to synchronize with and enable other weapons systems." To support friendly ground troops in contact with the enemy, flocks of expendable reconnaissance drones would operate up to 5 miles beyond the enemy front line. AdvertisementA Ukrainian serviceman launches a drone during a press tour in the Zhytomyr Region, northern Ukraine on September 20, 2023.

Persons: —, Jack Watling, Justin Bronk, Kirill Chubotin, Michael Peck Organizations: Service, Royal United Services Institute, Ukrainian, Staff, Publishing, Getty, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Ukraine, British, Zhytomyr Region, Forbes

Once the Fed is able to start cutting the federal funds rate, mortgage rates should trend down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Go Down (-0.24%)The average 15-year mortgage rate is 6.24%, 24 basis points lower than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Fall Slightly (-0.06%)The average 30-year refinance rate is 7.36%, six basis points lower than last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: Jerome Powell, Powell, you'll, It's, refinance Organizations: of Labor Statistics, Investors, Zillow, FHA Locations: Chevron

☆ Japan’s ‘Moon Sniper’ returns images after third long, lunar night
▼ + stars: | 2024-05-02 | by ( Ashley Strickland | ) edition.cnn.com time to read: +10 min

Temperatures during the lunar night can plunge to minus 208 degrees Fahrenheit (minus 133 degrees Celsius), according to NASA. And Moon Sniper wasn’t expected to withstand even one lunar night, which is a period of darkness on the moon lasting about two weeks. Riding out the lunar nightThe mission team communicated with Moon Sniper on April 23 after the lander rode out its third lunar night. From JAXAIn addition to surviving the extreme cold of the lunar night, Moon Sniper has also endured the searing temperatures of the lunar day, which can reach 250 degrees Fahrenheit (121 degrees Celsius), according to NASA. On February 29, after seven days of operating, Odie went to sleep because it wasn’t intended to survive the lunar night.

Persons: CNN —, Smart, SLIM, ’, Moon, ”, Odysseus, Odie ”, Odie, “ Odie, Jack Fischer, Fischer, ” Fischer, “, I’m, Vikram, Artemis, Noah Petro, Artemis III, ” Petro Organizations: CNN, Japan Aerospace Exploration Agency, NASA, JAXA, Reconnaissance, Artemis, Apollo Locations: Japan, Houston, India, China

☆ Russia may not start an all-out war with NATO, but already has plans to destroy it from within
▼ + stars: | 2024-05-01 | by ( Tom Porter | ) www.businessinsider.com time to read: +9 min

Late last year, Poland's national security agency estimated that Russia could attack NATO within three years. AdvertisementBut whether Putin really does intend to attack NATO and what an attack might look like remains unclear. In March, Putin denied having any plans to attack NATO members, describing such claims as "complete nonsense." "So, his ambition in growing is not going to be that he will attack NATO and NATO countries next year. A covert war is already underwayRussia, some point out, is already engaged in a war with NATO, albeit covertly.

Persons: —, Donald Tusk, Tusk, Putin, Emmanuel Macron, NATO Putin, Philip Ingram, Ingram, Ruth Deyermond, Bryden Spurling, Robert Dover, Spurling, that's, SERGEY BOBOK, Russia's Organizations: Service, Poland's, Business, Bild, NATO, Germany isn't, Ukraine, King's College London, RAND Corporation, University of Hull, European NATO, RAND, Ukrainian Territorial Defence Forces Locations: Europe, Russia, Ukraine, Eastern Europe, Baltic, Estonia, Lithuania, Latvia, Germany, Washington, Russian, NATO, European, Kharkiv, Soviet Union

☆ Tesla's plans to launch full self-driving tech in China could add $2 billion in earnings by 2030 and boost its stock
▼ + stars: | 2024-04-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Tesla's roll out of full-self driving technology in China could earn it over $2 billion by 2030, Bank of America said. AdvertisementTesla's success in getting China to approve its full self-driving technology could rev up the firm's earnings this decade, Bank of America said. AdvertisementOnce the technology rolls out, Tesla could charge Chinese FSD users around $99 a month, based on its US pricing. Rising competition in the country could spur Tesla to do this. Aside from the China FSD deal, Tesla's stock will also benefit from the August Robotaxi event, a fresh product in 2025, and the possible licensing of FSD.

Persons: Tesla, —, Elon Musk's Organizations: Bank of America, Service, ., Baidu, Tesla, . Bank of America Locations: China, Beijing, .

Average 30-year mortgage rates continue to hover around 7% after spiking up earlier this month, according to Zillow data. This means we could see mortgage rates improve somewhat as we approach fall. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Lower mortgage rates will bring more buyers onto the market, putting upward pressure on prices.

Persons: decelerating, Fannie Mae Organizations: Federal, Investors, Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

☆ Wild video captures a Chinese Coast Guard ship collide with a Philippine vessel while battering it with a powerful water cannon
▼ + stars: | 2024-04-30 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

The Philippine Coast Guard shared video footage on Tuesday of the incident. "During the patrol, the Philippine vessels encountered dangerous maneuvers and obstruction from four China Coast Guard vessels and six Chinese Maritime Militia vessels," Philippine Coast Guard spokesperson Commodore Jay Tarriela said. MOMENTS AGO: It appears like this China Coast Guard ship is not done yet as it blasted BRP Datu Bangkaw with water cannon. Scarborough Shoal, which has a constant Chinese Coast Guard presence, but the Philippines continues to press its claims to this area. A recent one in March saw a Chinese water cannon destroy a Philippine ship's windows and injure four sailors.

Persons: —, 5jQkS2g66e — Jay Tarriela, Jay Tarriela, Tarriela, Gio Robles, Datu, — Gio Robles, Nicola Smith, Bagacay, Smith, Datu Bankaw, Ezra Acayan, Tom Shugart, rUIKi8ws8O, Joseph Morong 🇵🇭 ( Organizations: Service, Guard, Business, Philippine Coast Guard, of Fisheries, Aquatic Resources, BRP Bagacay, BRP Datu Bankaw, BRP BAGACAY, Bureau of Fisheries, BRP BANKAW, China Coast Guard, Chinese Maritime Militia, Task Force, West Philippine, BRP Datu, China's Coast Guard, Weibo, Coast Guard, Philippine Navy, US Navy, Center, New, New American Security, GMA Locations: Philippine, China, country's, Scarborough Shoal, South China, Bajo De Masinloc, @_GioRobles, Asia, New American, Scarborough, Philippines

☆ Crewless cargo? Autonomous shipping aims to overcome safety, trust concerns to reach mainstream
▼ + stars: | 2024-04-29 | by ( Jonathan Keane | ) www.cnbc.com time to read: +5 min

The voyage was a test of an autonomous ship under AUTOSHIP, an EU-funded program to develop new technologies for navigating large vessels. The consortium brought together entities from academia and industry, including Kongsberg Maritime, the Norwegian giant that has been conducting deep research and development (R&D) on autonomous shipping. The trip marked a pivotal advancement in developing autonomous technology for shipping, which still faces many hurdles before it is ready for primetime. "Uniquely for autonomous technology, the hazards are hidden for the mariner by the sea. "Learning via mistake in a cargo ship environment can be costly, it can be dangerous," said J.C. Renshaw, head of supply chain consulting at Savills North America.

Persons: Markus Laurinen, Laurinen, Ville, SHI, Denmark's DNV, Leo McLeman, McLeman, J.C, Renshaw Organizations: Kongsberg Maritime, CNBC, Kongsberg Maritime's VP, Korea's Samsung Heavy Industry, Samsung, International Maritime Organization, Hydrographic Office, Savills Locations: Norway, EU, Norwegian, Kongsberg, America, Africa

☆ Elon Musk will face intense competition if he tries to bring Tesla's full self-driving technology to China
▼ + stars: | 2024-04-29 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

Elon Musk has moved closer to getting full self-driving technology approved in China, reports suggest. One local EV boss welcomed the move, saying regulators should "let a hundred flowers bloom." Tesla has moved closer to securing approval to operate its full self-driving technology in China, according to multiple reports, after CEO Elon Musk made a surprise visit to the country over the weekend. Getting FSD approved for China would be a massive win for Musk, who has bet Tesla's future on self-driving cars and robotaxis. AdvertisementMany of Tesla's local rivals are rolling out their own versions of Tesla's Autopilot, which is available in China, and full self-driving technology as competition rages in the country's EV market.

Persons: Elon Musk, Tesla, —, Elon, Musk, XPeng's, William Li, Xiaopeng, EVs, Warren Organizations: EV, Service, Huawei, Xiaomi, Weibo, Bloomberg Locations: China, Guangzhou

☆ Elon Musk wins official praise for Tesla during surprise visit to China
▼ + stars: | 2024-04-29 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Autopilot is available in China, but not the full FSD feature, which needs to comply with the country’s data security rules. “The economies of China and the United States are deeply integrated,” he said, according to an official readout of the meeting with the Tesla CEO. “Tesla is willing to further deepen cooperation with China and achieve more win-win results,” Musk told Li. Musk first met Li in 2018, when Tesla signed a deal with the Shanghai government to open a plant there. Since then, Musk has met with Li publicly at least five times, according to state media reports and government statements.

Persons: Hong Kong CNN — Elon Musk, Premier Li Qiang, Tesla, Musk, ”, Dan Ives, that’s, Ives, Antony Blinken, Xi Jinping, Li, China’s BYD, “, ” Musk, Tesla’s, Ren Hongbin, Li Qiang Organizations: Hong Kong CNN, Premier, China Association of Auto Manufacturers, Baidu, Bloomberg, CNN, Beijing Auto, EV, Wedbush Securities, China Council, Promotion of International Trade Locations: China, Hong Kong, Beijing, United States, Shanghai, Weibo

Currently, 30-year mortgage rates are above 7%, according to Zillow data. Hotter-than-expected economic data has pushed mortgage rates up this year. This would allow more hopeful homebuyers to enter the market and find a home with an affordable monthly mortgage payment. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Fannie Mae, homebuyers, you'll Organizations: Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Elon Musk comes out fighting as China throws Tesla a lifeline
▼ + stars: | 2024-04-29 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Elon Musk made a surprise visit to China, meeting officials and striking a deal with Baidu. The deal brings Tesla a step closer to introducing its self-driving features in cars sold in China. AdvertisementElon Musk's surprise visit to China appears to have paid off. Elon Musk was taken by minibus to his private jet at Beijing airport on Monday after a surprise visit to China. Musk's battle planMusk's China visit came amid tough times for Tesla.

Persons: Elon Musk, Tesla, —, Elon Musk's, Narendra Modi, Musk, Li Qiang, Greg Baker, Dan Ives, Wall, Telsa, Musk's, he's Organizations: Baidu, Service, Tesla, Bloomberg, EVs, Getty, Bloomberg TV, Business Locations: China, Beijing, India, AFP

IntroductionWhen you complete the FAFSA, your school may offer you any one of three types of federal loans: subsidized loans, unsubsidized loans, and Direct PLUS Loans. If your college costs aren't covered completely by the aid offered through the FAFSA, you may have to take out private loans as well. You will have to pay those back, and these should be your last option as private loans often come with worse terms and protections than federal loans. Student Loans: These DO have to be repaid with interestYou can get various types of aid from the FAFSA, and you'll know what you qualify for once your school gives you your complete financial aid package. Ryan Wangman, CEPF Loans Reporter Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans.

Persons: Ryan Wangman, Read Organizations: Loans, Chevron, Finance, Northwestern University, Boston Globe Locations: Iraq, Afghanistan

When you miss a mortgage payment, you incur late fees and hurt your credit score. But skipping mortgage payments comes with serious consequences that could include losing your house. Are you finding it hard to make your monthly mortgage payment? This allows you to pause your mortgage payments for a certain amount of time or, in some cases, make reduced payments instead. FAQsWhat should I do first if I realize I can't make my mortgage payment?

Persons: Craig Martin, Christian Mills, Freddie Mac, you've, you'll, it's, Aly J, Yale Aly J, Bob Organizations: Christian, US Department of Housing, Urban, Chevron, Yale, Forbes, Money Magazine, The Dallas Morning News, Bob Schieffer College of Communication, Twitter

☆ He visited Italy for the first time and bought a house within 24 hours
▼ + stars: | 2024-04-28 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +10 min

“I had been to various countries in the European Union on several occasions but never Italy, though it was on my list. Millet says that he began planning to travel to Italy to buy a house back in 2019, but was thwarted by Covid-19. “The prices of the houses were super-attractive, especially coming from the Los Angeles area, and the Latronico properties were for the most part in good shape. “At the end of the day, I bought my place and began thinking about renovations and the future,” he adds. Sunset cocktailsThe house Millet bought has only one bedroom but came with two large basements.

Persons: you’re Paul Millet, you’ve, Millet, ”, “, Covid, he’d, Paul Millet, he'll, Vincenzo Castellano, Latronico, ” Millet, Vincenzo Castellano Millet, Latronico’s peacefulness, “ It’s, I’ve, “ Franca, he’s, “ That’s, Latronico’s, Castellano Organizations: CNN, European Union, ” Locations: Italy, Italy’s Basilicata, Los Angeles, Basilicata, Ireland, Latronico, LA, Maui

Sticky inflation has pushed mortgage rates up in recent months, and we likely won't see them trend down until inflation starts decelerating again. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Go Up (+0.23%)The average 15-year mortgage rate is 6.48%, 23 basis points higher than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Fall Slightly (-0.11%)The average 30-year refinance rate is 7.42%, 11 basis points lower than last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: decelerating, it's, you'll, It's, refinance Organizations: Federal, US, of Economic, Zillow, FHA Locations: Chevron

Most major forecasts believe that mortgage rates will ultimately trend down this year. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 30-Year Fixed Mortgage RatesThis week's average 30-year fixed mortgage rate was 7.17%, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched up to 6.44% this week, according to Freddie Mac data. Mortgage rates increased dramatically over the last two years, but they're expected to go down at some point this year.

Persons: Fannie Mae, you'll, Freddie Mac, it's Organizations: Reserve, US, of, Zillow, Federal Reserve Locations: Chevron

If you already have life insurance, consider adding funeral or burial insurance, also known as "final expense" insurance. Final expense insurance, also called burial or funeral expense insurance, covers end-of-life expenses like the funeral service, body preparation, cremation, the casket or urn, transportation, etc. Types of final expense policiesBesides term and permanent life insurance, final expense insurance comes in several forms. Final expense life insurance is for those who might be in poor health and can't qualify for traditional life insurance. Final expense life insurance FAQsWho should consider final expense life insurance?

Persons: you'll, It's Organizations: AARP, Consumers Alliance, Colonial Penn, Mutual, Life Insurance, Chevron Locations: Colonial, Omaha, Illinois

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