Morgan Stanley Quarterly Profit Tanks; Adjusted Profit Beats View

Rivian has never turned a quarterly net profit since it was founded in 2009 and lost $1.5 billion in the first quarter. Electric-vehicle maker Rivian‘s drive to cut costs and turn its first profit has removed over 100 steps from the battery-making process, 52 pieces of equipment from the body shop and over 500 parts from the design of its flagship SUVs and pickups.

Washington has for years tried to convince allies to cut telecoms equipment giant Huawei from their networks given fears that Chinese company could spy on customers and pass on the information to Beijing. Microsoft’s deal to invest $1.5 billion in artificial intelligence firm G42 is “generally a positive development” because it forced the United Arab Emirates-based company to sever ties to China’s Huawei, a White House official said on Monday.

Notably, the ban has no exceptions for babies with congenital anomalies, and the mortality rate for such infants increased by 23% in Texas. More newborns and infants are dying in Texas as the state’s abortion ban begins to show its impact.

As the retailer trails behind Walmart and Amazon in e-commerce, it’s banking on products from Shopify businesses to help boost online sales. When it comes to online shopping powerhouses, Target has been something of an also-ran compared to Amazon and Walmart. Now, the retailer is hoping to become a bigger player in the online marketplace—and it’s turning to Shopify as part of its plan.

Enlarge / Rocket Lab CEO Peter Beck speaks during the opening of the new Rocket Lab factory on October 12, 2018, in Auckland, New Zealand. (credit: Phil Walter/Getty Images) Peter Beck has been having a pretty great June. Earlier this month, he was made a Knight Companion of the New Zealand Order of Merit.

Enlarge (credit: Getty Images) WordPress plugins running on as many as 36,000 websites have been backdoored in a supply-chain attack with unknown origins, security researchers said on Monday. So far, five plugins are known to be affected in the campaign, which was active as recently as Monday morning, researchers from security firm Wordfence reported.