Shares of Tesla surged 7 per cent on Monday to a record high, extending a two-week rally to more than 60 per cent as investors bet the electric car maker could report a quarterly profit and potentially join the S&P 500 index. Monday’s surge added $24 billion to Tesla’s stock market value, an increase approaching General Motors Co’s entire value of $35 billion. SEE ALSO: Musk says Tesla 'Battery Day', shareholder meet likely on Sept. 15With its market capitalization now at $310 billion, Tesla would be among the most valuable companies ever added to the S&P 500. The same day would also be “Battery Day,” when Tesla it is expected to reveal significant advances in battery technology. Tesla’s stock rose as much as 16 per cent earlier on Monday, and it has gained about 600 per cent over the past year.
July 13, 2020 19:06 UTC
The historic Fort Jesus has lost more than Sh10 million since the coronavirus first hit Kenya in March. Last year, the fort received 42,000 visitors from April to June but this year there are no visitors due to the closure. The fort is expected to reopen soon to the public after complying with directives to ensure there are no infections of the virus. “We have organised that every section has a small number of people so that there are no gatherings in one area,” Twahir said. Other measures to be undertaken upon arrival include maintenance of 1.5 meters distance especially in the ticketing area, temperature testing, hand washing and sanitising.
July 13, 2020 18:56 UTC
Five independent directors at the Kenya Power have resigned. "The Board of Directors of the Kenya Power and Lighting Company PLC hereby announces the resignation of Mr. Adil Khawaja, Mr. Kairo Thuo, Mr.Wilson Kimutai Mugung’ei, Mrs. Brenda Kokoi and Hon. Kenya Power last month said it expects its full year earnings to drop by at least 25 percent, a sixteen year low performance. It attributed this to the impact of the Covid-19 restrictions which has led to a major drop in industrial and commercial power demand. The industrial sector accounts for about 70 per cent of Kenya Power unit sales.
July 13, 2020 18:56 UTC
Guardrisk has decided it is going to appeal the Western Cape High Court ruling that ordered the company to pay out business interruption claims of Cape Town restaurant, Café Chameleon. In the UK, the Financial Conduct Authority has taken eight insurers to the Supreme Court for a test case. While the judgment said Guardrisk ought to pay, it did not say how much. Court should also clarify who has a valid claimHe said court processes should also clarify how a valid claim is defined. Bam said ultimately, it is the courts that will determine who has a valid claim.
July 13, 2020 18:56 UTC
By LILLIAN MUTAVI More by this AuthorMachakos County has closed down Endmor Steel Millers Ltd in Syokimau and suspended its business licence following complaints of pollution. On air pollution, the team found out that the smelting of scrap metal into steel products produced smoke and dust. Nema’s air quality audit report and annual licences were not made available for inspection,” read the report. A court ordered the company and Nema to carry out air quality audits but only verbal commitment was given. “Occupational health and safety standards and protocols must be put in place to the satisfaction of Nema and Machakos County,” he said.
July 13, 2020 18:45 UTC
“You cannot excise forest land which is public property and give it to private individuals. The law states that any part of de-gazetted forest land must be used for public activity or amenity,” Mr Tobiko said. “The government will repossess all forest land grabbed by powerful people in this country. Mr Tobiko said previous office holders used the companies as a conduit to excise forest land then fraudulently handed pieces to powerful individuals. “The beneficiaries of Ngong Forest land are not poor, they are mighty and powerful individuals who own properties both in the country and abroad.
July 13, 2020 18:11 UTC
A stalemate that has stalled the passage of a new formula for funding the 47 counties persisted Monday after senators failed to find common ground. The senators were forced to defer, for the second time, debate and subsequent approval of the contentious formula that has divided the house down the middle. The third-generation formula will determine how the counties share Sh316.5 billion allocated to them in the 2020-21 budget. Orengo said the senators needed time to understand an amendment proposed by three senators – Ole Kina, Mwangi Githiomi (Nyandarua) and Ali Abdullahi (Wajir) – and build consensus. The formula will also make Kilifi lose Sh878 million, Turkana Sh450 million, Kitui Sh219 million, Makueni Sh302 million, Samburu Sh294 million, Taita Taveta Sh388 million, Tharaka Nithi Sh367 million, and Vihiga Sh361 million.
July 13, 2020 18:00 UTC
Gitonga was the second case of a Covid-19 death of a healthcare professional in the country. LONG ABSENCEMrs Gitonga, a nurse working in Meru, said the last time she saw him was in March, just before curfew. “Healthcare workers should be protected. The latest health worker to pay the ultimate price was Dr Doreen Adisa Lugaliki, a consultant obstetrician and gynecologist, who died on Friday at Aga Khan Hospital. Currently, some 361 healthcare workers have tested positive for the disease, which has already killed 197 Kenyans.
July 13, 2020 17:26 UTC
By AFP More by this AuthorRome,Nearly one in nine people in the world are going hungry, with the coronavirus pandemic exacerbating already worsening trends this year, according to a United Nations report published Monday. Not only did people need enough food, but nutritious food, the study said, citing costly "health and environmental consequences" of sub-par diets. By 2030, over 890 million people could be affected by hunger, or 9.8 per cent of the world's population, it estimated. Trends in Latin America and the Caribbean are worsening, with 9 million more hungry people last year than in 2015. "A key reason why millions of people around the world suffer from hunger, food insecurity and malnutrition is because they cannot afford the cost of healthy diets," found the report.
July 13, 2020 15:22 UTC
By JOSEPH OPENDA More by this AuthorAt least 500 pastors affected by the Covid-19 pandemic in Nakuru have received relief food donated by the county government. The distribution, which was coordinated by the Nakuru Pastors Fellowship, saw the clergy receive five bags of 10kg maize flour, bags of beans, cooking oil, rice and bars of soap each. According to Pastor Maina, the county government gave out a total of about 10,000 kilos of maize flour, 2,000 litres of cooking oil, 9,000 kilos of dry beans and 12,000 bars of soap. “We have 500 clerics from all the 11 sub-counties who will receive the relief food today. It is a great win for us since most pastors [have become] vulnerable [due] to the effects of this pandemic,” said Pastor Maina.
July 13, 2020 15:00 UTC
NGILU’S CAMPAdvertisementMs Ngilu's party, Narc, has 12 members but enjoys the support of MCAs from smaller political parties and independent lawmakers. Lobbying for numbers has intensified with a caucus of 10 women MCAs throwing their weight behind Governor Ngilu. The ten female MCAs include six from Ms Ngilu's party, three from small political parties and an independent. The assembly has 18 women MCAs out of the 54 elected and nominated members. The letter rekindles memories of last week's scuffle that saw Governor Ngilu's lawyers assaulted and thrown out of the assembly by orderlies.
July 13, 2020 14:48 UTC
This was after Mr James Orwaro, who claimed to have married the woman, moved to a Kilifi court to stop the burial. AdvertisementHowever, the dead woman’s father, Mr James Mwamuye, told journalists that his daughter was not married and nobody had paid dowry for her. I have never seen the man or even met his parents,” Mr Mwamuye said. Ms Eunice Mwamuye, the dead woman’s mother, said that she learnt about Mr Orwaro last Friday when police arrived at her homestead to serve them with the court order. The grave which had bee prepared for the burial of Ms Mwamuye in Kilifi County.
July 13, 2020 14:37 UTC
The country’s current agricultural development plans project a Food Security pillar that can only be achieved if Conservation Agriculture (CA) is aggressively adopted by farmers of all sizes. Indeed, farming the CA way has a new dimension in a period of Climate Change, calling for Climate Smart Agriculture (CSA). Hard pans developed by hoe and mouldboard farming of the past cause flooding and erosion, to the detriment of sustainable farming practice and food security. Farming the CA way means creating soil structures that prevent soil erosion where there is slope. With farming made easier and inputs per tonne of yields achieved easier, farming will attract youth and help meet the dream of sustained food security in Kenya.
July 13, 2020 14:21 UTC
Courts in Nairobi have so far received and processed over 200 matters filed through the new E-Filing platform introduced on July 1. As at July 8, 2020, a total of 284 cases had been filed in some Nairobi courts through the E-Filing system and over Sh3,836,518 collected as court fees, fines and bail. The courts have also uploaded 3,076 files in the Case Tracking System to facilitate the new system launched by Chief Justice David Maraga on July 1 for Courts in Nairobi. In a statement on Monday, the Judiciary said the Milimani Commercial Magistrates Court had the highest number of cases filed through the E-Filing system with 153 cases. It was followed by the High Court’s Commercial and Tax Division which received 50 matters filed as at July 8.
July 13, 2020 14:15 UTC
SEE ALSO: Kenya Army chopper crashes in Masinga killing two soldiersI fell into postpartum psychosis a few weeks after delivering my first child in January 2017. I'm now a happy mother of two beautiful girls because my support system was on the lookout in case of a relapse. If you are planning to be a parent or are already there, make sure you have a very strong support system around you. But with a strong support system, you can do it. Postpartum psychosis is temporary and treatable with professional help, but it is an emergency and it is essential that you receive immediate help.
July 13, 2020 14:15 UTC