Demand for Tesla vehicles remained strong during pandemic, Musk says

FILE PHOTO: Tesla Inc CEO Elon Musk speaks on stage during a delivery event for Tesla’s China-made Model 3 cars at its factory in Shanghai, China, January 7, 2020. REUTERS/Aly Song/File Photo

(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk said in a podcast released on Friday that demand for the company’s electric vehicles remained strong throughout the coronavirus pandemic, with consumers preferring to shop online.

Musk, talking to Automotive News’ Daily Drive podcast, said having a traditional dealer network – something he considered in the past – appears increasingly unnecessary.

“We saw strong orders through the whole pandemic, we still had a good order volume,” Musk said. “I guess people are less inclined to want to go to a dealership, do the test drive and hang out in the lobby and that kind of thing.”

Asked about a 2020 meteoric stock rally that has pushed Tesla

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Samsung expects smartphone demand to drive second half earnings

SEOUL (Reuters) – Samsung Electronics Co Ltd expects a global recovery in demand for smartphones and consumer electronics to underpin profits in the second half of the year, after a coronavirus-propelled shift to online working boosted quarterly earnings.

FILE PHOTO: A woman wearing a protective face mask uses her mobile phone as she walks past a Samsung brand store in central Kyiv, Ukraine July 9, 2020. REUTERS/Valentyn Ogirenko/File Photo

Samsung, the world’s top maker of memory chips, tempered its relatively upbeat forecast when announcing second quarter results on Thursday with a warning that the pandemic and trade disputes posed ongoing risks for earnings.

Samsung posted a 23% jump in operating profit in the April-June quarter on the back of strong DRAM memory chip sales to online server providers, along with cuts in marketing costs.

Prices for the chips, which create temporary workspaces to allow devices to multitask, spiked in the

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Facebook gains temporary court reprieve on EU antitrust data demand

FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

BRUSSELS (Reuters) – Facebook has won the first round of its court battle against what it says are excessive demands from European Union antitrust regulators after Europe’s second-top court temporarily halted such requests until it makes a final ruling.

The U.S. social media group is being investigated by the European Commission for its trove of data and online marketplace, which may lead to hefty fines and orders to change its business practices.

Facebook on July 15 sued the EU competition enforcer at the Luxembourg-based General Court, saying that the Commission was seeking information beyond what is necessary, including highly personal details.

It also asked for interim measures to stop a May 4 information request. Failure to comply could expose it to a daily penalty payment of 8 million

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Tech demand powers Taiwan export order growth to two-year high

TAIPEI (Reuters) – Taiwan’s export orders grew at their fastest pace in nearly two years in June, boosted by strong demand for telecommuting products such as laptops, as the coronavirus pandemic forced millions of people around the world to work from home.

FILE PHOTO: A person riding a scooter wears a mask amid the outbreak of the coronavirus disease (COVID-19), while passing a Foxconn office building in Taipei, Taiwan, July 14, 2020. REUTERS/Ann Wang/File Photo

The island’s export orders, a bellwether of global technology demand, jumped 6.5% in June from a year earlier to $41 billion, Ministry of Economic Affairs data showed on Monday.

The outcome exceeded a 1.2% rise projected in a Reuters poll and a 0.4% increase in May. It was the fourth consecutive month of gains and the strongest since August 2018.

The ministry, which has repeatedly warned of a difficult outlook for orders because of the

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