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Investopedia
49 m
9
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Tesla (TSLA) shares are likely to make their way onto watchlists Monday after the legacy EV maker launched a financing incentive on Friday evening for Model Y purchases in what appears to be the auto giant’s latest initiative to combat increasing competition and sluggish consumer demand.
According to the company’s website, it is offering a 0.99% annual percentage rate (APR) on qualifying Model Y purchases May 10th and May 31st. The incentive applies to 36, 48, 60 and 72-month financing terms, though the APR increases to 2.99% for 84-month financing. A week ago, the quoted rate for Model Y — Tesla’s best-selling vehicle — was 6.49% APR.
Discounted financing is a doubled-edged sword for automakers—on one hand it helps improve deliveries by stimulating demand, but at the same time automakers have to cover the cost of below-market interest rates.
Tesla’s latest financing initiative follows 18 months of select price reductions across its vehicle lineup in a bid to drive volumes to counter intense competition from Chinese automakers and waning consumer demand for EVs. In February, the company temporarily slashed the price of several Model Y vehicles by $1,000 in the U.S.
While price cuts helped the EV maker deliver 38% more cars last year compared to 2022, they have not had the same effect so far this year. In the first three months of 2024, the company delivered roughly 387,0000 units, down from around 423,000 vehicles in the same period a year earlier.
After forming a bear trap below the lower trendline of a descending channel in late April, Tesla shares staged an impressive recovery, with the price climbing to the upper portion of the pattern. However, the rally has lost traction in recent weeks, resulting in the price retracing back below the closely-watched 50-day moving average. If the stock can hold current levels, it raises the possibility that Tesla shares may be carving out an inverse head and shoulders bottoming pattern.
Looking ahead, investors should monitor if the price can close above the formation’s neckline around $197, a move that would confirm the pattern and potentially mark the start of a new trend higher in the stock.
Tesla shares were up 0.3% to $168.90 in premarket trading at around 7:20 a.m. The stock has lost about one-third of its value this year.
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Instablog9ja
49 m
9
A high school teacher has been accused for allegedly raping a 16 year old student that attends a coaching academy where he teaches in Ilorin, Kwara State.
An online user recounted how the man had carried out the horrific act in the past but got away with it. A video of the culprit was also released, which shows him in custody of the Police.
Instablog9ja
2 hrs
13
President Bola Tinubu has banned members of the Federal Executive Council, FEC, from purchasing petrol dependent vehicles.
The President has also directed the mandatory procurement of compressed-natural-gas-powered vehicles by all government ministries, departments, and agencies.
The Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, disclosed this in a statement on Monday evening, May 13, 2024.
According to him, the directive is in line with Tinubu’s commitment to ensure energy security, drive utility, and cut high fuel costs.
He said the President’s directive is also in furtherance of Nigeria’s effort to transition to cleaner energy as CNG-enabled vehicles have been adjudged to produce lower emissions, even as they present a more affordable alternative for Nigerian energy consumers.
Addressing members of the Federal Executive Council (FEC) at the State House on Monday, President Tinubu affirmed that there is no turning back in the energy reforms initiated by his administration.
“This nation will not progress forward if we continue to dance on the same spot. We have the will to drive the implementation of CNG adoption across the country, and we must set the example as public officials in leading the way to that prosperous future that we are working to achieve for our people. It starts with us, and in seeing that we are serious, Nigerians will follow our lead,” the President stated.
“The President further directed the rejection of all memos brought by members of FEC seeking the purchase of traditional petrol-dependent vehicles, tasking the affected members of the council to go back and diligently seek value-driven procurements of CNG-compliant vehicles.
The President remains committed to effectively harnessing the nation’s gas potential, alleviating the burden of high transportation costs on the masses while enhancing the standard of living of all Nigerians,” the statement added.
Investopedia
2 hrs
10
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Shares in UK-based chip design giant Arm Holdings (ARM) will be in focus on Monday after reported Sunday that the company plans to develop artificial intelligence (AI) chips, aiming to launch its first prototype in early 2025.
According to the report, Arm—in which Japan’s SoftBank (SFTBY) owns a 90% stake—will establish a new AI chip unit and build a prototype by spring next year before turning to contract manufacturers to have the chips mass produced by fall 2025.
Arm will fund the majority of the initial development costs, expected to be billions of yen, with Softbank also contributing, the report said. Once up and running, the AI chip business could be spun off under SoftBank.
The Japanese financial giant has already commenced negotiations with Taiwan Semiconductor Manufacturing (TSM) and other chipmakers as it looks to sure up production capacity, reported.
Arm, which makes money by selling royalties on its chip designs, has continued its push into the lucrative AI datacenter market, where tech behemoths such as Microsoft (MSFT), Meta (META), Alphabet (GOOGL), and Amazon (AMZN) have announced plans to build their own in-house chips to power their AI computing requirements, helping to reduce their reliance on AI chip supplying giant Nvidia (NVDA).
Since going public in September last year, the company’s shares have more than doubled from their $51 initial public offering (IPO) price as investors place bets that the chip designer can capture a sizable slice of the AI infrastructure market. Precedence Research of Canada expects the AI chip market to grow from $30 billion this year to $200 billion by 2032.
The Arm share price has traded within a narrow rising wedge since mid April—a chart pattern technical analysts typically interpret as having a bearish bias because it indicates an easing of buying momentum. In the short-term, the price may continue to oscillate in the wedge until the downward sloping 50-day moving average catches up with the pattern’s top trendline before the stock makes its next significant move.
Amid a move lower, investors should monitor the $79 level, an area where the price may find buyers near the February pre-breakout level. However, if the price climbs above the wedge, it’s worth keeping in mind that the stock could make another attempt at testing key overhead resistance near prior price action around $145.
Arm shares closed trading last week at $108.84, after gaining 5.1% during Friday's session.
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Instablog9ja
3 hrs
11
Nigerian senator representing Kano Central Senatorial District, Rufai Hanga has explained why he donated 2,000 clay pots and 10,500 yards of white cloth (called ‘Likkadani’ in Hausa) to the Muslim graveyards in his constituency.
Recall that the senator came under criticism when he donated the items to 15 local government areas in his senatorial zone last week.
However, reacting to the criticism, Hanga, who is the Deputy Minority Chief Whip of the 10th Senate and a member of the New Nigeria Peoples Party, said that he made the donation because he is seeking God’s mercy.
He said the donation was not part of his constituency project as widely reported.
In his first news conference since his election in 2023, Hanga stated that such a gesture was not new. He said it was something he had been doing even before his election.
He added that it was a family legacy he grew up seeing and inheriting, which he hoped to continue throughout his life.
According to DailyTrust, he said: “We made the donation to Kano state committee for the graveyards headed by Dangoribar Kano and district head of Tarauni Local government. We had found out that clay pots were lacking in most of our graveyards and decided to donate.”
Healthwatch
4 hrs
33
We all have habits we'd like to get rid of, and every night we give ourselves the same pep talk: I'll go to bed earlier. I will resist that cookie. I will stop biting my nails. And then tomorrow comes, we cave, and feel worse than bad. We feel defeated and guilty because we know better and still can't resist.
The cycle is understandable, because the brain doesn't make changes easily. But breaking an unhealthy habit can be done. It takes intent, a little white-knuckling, and some effective behavior modification techniques. But even before that, it helps to understand what's happening in our brains, with our motivations, and with our self-talk.
We feel rewarded for certain habits
Good or bad habits are routines, and routines, like showering or driving to work, are automatic and make our lives easier. "The brain doesn't have to think too much," say Dr. Stephanie Collier, director of education in the division of geriatric psychology at McLean Hospital, and instructor of psychiatry at Harvard Medical School.
Bad habits are slightly different, but when we try to break a bad one we create dissonance, and the brain doesn't like that, says Dr. Luana Marques, associate professor of psychology at Harvard Medical School. The limbic system in the brain activates the fight-flight-or-freeze responses, and our reaction is to avoid this "threat" and go back to the old behavior, even though we know it's not good for us.
Often, habits that don't benefit us still feel good, since the brain releases dopamine. It does this with anything that helps us as a species to survive, like eating or sex. Avoiding change qualifies as survival, and we get rewarded (albeit temporarily), so we keep reverting every time. "That's why it's so hard," Collier says.
Finding the reason why you want to change
But before you try to change a habit, it's fundamental to identify why you want to change. When the reason is more personal — you want to be around for your kids; you want to travel more — you have a stronger motivation and a reminder to refer back to during struggles.
After that, you want to figure out your internal and external triggers, and that takes some detective work. When the bad-habit urge hits, ask when, where, and with whom it happens, and how you are feeling, be it sad, lonely, depressed, nervous. It's a mixing and matching process and different for every person, but if you notice a clue beforehand, you might be able to catch yourself, Collier says.
The next part — and sometimes the harder part — is modifying your behavior. If your weakness is a morning muffin on the way to work, the solution might be to change your route. But environments can't always be altered, so you want to find a replacement, such as having almonds instead of candy or frozen yogurt in lieu of ice cream. "You don't have to aim for perfect, but just a little bit healthier," Collier says.
You also want to avoid the all-or-nothing mindset, which leads to quick burnout, and instead take micro-steps toward your goal, Marques says. If you stay up until midnight but want to be in bed at 10, the reasonable progression is: start with 11:45; the next night 11:30; the next 11:15 … It builds success and minimizes avoiding the new habit.
It also helps to remember that urges follow a cycle. They're initially intense, then wane, and usually go away in about 20 minutes. Collier suggests to set a timer and focus on "just getting through that."
In that waiting period, seeking new sensations can provide useful distraction. You can go outside and feel the wind and smell the air. You can do something physical. Collier also likes using hot and cold. In the extreme, it's submerging your face into a bowl of water, which can slow down your heart rate. But it could also be holding an ice cube or taking a hot shower. "You're focused on the sensation and not the urge," she says.
Accept that success isn't a straight line
As you try to change, there will be bumps and setbacks, which are part of the process of lasting change. The problem is that we're our own worst critics, and some people view anything except total success as complete failure.
Marques says to try to take a third-person perspective and think about how you'd react to a friend who said that having one bag of chips had ruined their whole diet. You'd be kind and reassuring, not critical, so give yourself the same treatment. A lot of the struggle with self-criticism is not seeing thoughts as facts, but merely thoughts. It takes practice, but it's the same idea as with meditation. You treat what comes into your head as clouds, acknowledging them and letting them roll on through. "Everyone has distorted thoughts all the time," Marques says. "It's what you do with them."
It also helps to reduce stress and minimize that sense of failure to know that the goal isn't to make the old habit disappear, because it won't. You're just trying to strengthen the new routine so eventually it takes over, and the old habit isn't even a thought. But it's a constant process, made easier with self-compassion, because there's no way to prepare for every situation or be able to predict when and where a trigger might happen.
"You can't prepare for life," Collier says. "Life is going to throw things at you."
Source: Harvard Health Publishing
