Tesla Shares Soar Above $1000, Pushing Their Market Cap Over $1 Trillion

——————————-

Following the announcement of a deal to sell 100 000 electric vehicles to Hertz, a rental car company, Tesla shares climbed 13% to $1 024.86. The S&P 500 and Dow Jones Industrial Average also hit record highs on Monday, up 0.5% to 4 566.48 and 0.2% to 35 741.15 respectively. A week full of earnings followed, with numerous tech giants reporting their quarterly results. Facebook shares rose during after-hours on Monday, Microsoft, Twitter, and Alphabet Inc (Google’s parent company) reported on Tuesday, and Apple and Amazon announced their quarterly earnings on 28 October. [The Wall Street Journal][By Justin Wei] 

——————————-

Warriors, Bulls and Hornets Start the 2021 NBA Season Blazing Hot 3 and 0. 

——————————-

As the new NBA season slowly rolls to a start, some teams are struggling to prove their worth. Title favorites just a few weeks ago, the Brooklyn Nets are fighting to get their first win without Kyrie, and the Lebron led Lakers are yet to show any promise with their newly established big 3. Looking on the bright side, Curry is averaging a sweet 31 points, 9 rebounds, and 7 assist, leading his team to victory in all three of their opening games. He failed to shoot well during 2 of the 3, but the Warriors’ season has nevertheless been impressive. In the other conference, the Chicago Bulls have shown the world they are dangerous even without Lavine; their new pickups, Lonzo and Derozan, proved out to be valuable assets, and have made the Bulls a dark horse in the east. The Charlotte Hornets are also making a new name for themselves, with their victory over the Nets, they have begun the season looking better than ever. Can these teams keep up the streak? 

——————————-

Facebook Inc. Rebrands to “Meta” on 28 October 

——————————-

Facebook has officially changed its corporate name to “Meta”. CEO Mark Zuckerberg announced the change on 28 October at a company event. The reason for the name change is that the company is planning to build a “Metaverse” – a space advertised as the future of the internet, which is accessed using VR headsets. In the metaverse, a user’s avatar would be able to interact with other users and do everyday things, such as shopping for clothes, in a digital space. Zuckerberg said that he wanted the company’s name to reflect everything they’re working on and that Facebook was no longer sufficient to “represent everything [they’re] doing today, let alone the future.” This huge rebranding of one of the world’s largest corporations comes weeks after a whistleblower scandal, in which thousands of internal documents leaked to news agencies revealed Facebook’s role in misinformation and crime. Experts suspect that the rebranding is also an attempt to distract the public from that event. [NY Times][by Miranda Zhao]

——————————-

Moscow Orders 11 Days of Restrictions

——————————- 

Following a recent surge in national COVID-19 infections, Moscow Mayor Sergey Sobyanin announced earlier this week an 11-day long partial lockdown set to begin on Thursday the 28th. Between then and November 7th, all non-essential stores in the city will be closed and dining at restaurants banned. Theatres and museums will continue operating, albeit at 50% capacity, and all visitors must have proof of vaccination or a recent COVID-19 infection. Mayor Sobyanin compared the restrictions to taking an aspirin for a fever, writing that although it won’t “cure the illness, it’ll give the body a break.” These restrictions follow President Vladimir Putin’s recent declaration of a non-working week, wherein all non-essential personnel have been ordered to stay home.[CBC][By Joshua Zhuang]

 

——————————-

116 Refugees Welcomed in Newfoundland and Labrador

——————————-

According to Newfoundland and Labrador’s immigration minister Gerry Byrne, 116 Afghan refugees have fled from the Taliban, arriving in St. John’s on Tuesday night. On Wednesday, Byrne stated that the federal government would provide refugee support for the next year or longer, if required. “I think that really reflects an attitude and point of view of the government of Canada,” Byrne said. “That this is a very welcoming place and this is a place that they have great confidence in the resettlement of the refugees knowing they’re in very good hands.” Eastern Health staff along with the federal Immigration, Refugees and Citizenship Canada department were at the airport to help process the arrivals. These newcomers will be working with the Association for New Canadians and the provincial government, in order to prepare and welcome new children to school as well as provide support in finding housing.[CBC][By Iris Ma]