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Tesla Motors Inc said it was stepping up production plans for its upcoming Model 3 mass-market sedan and would build a total of 500,000 all-electric vehicles in 2018, two years ahead of schedule, but warned that spending will ramp up in tandem. The company, which three months ago aimed to make a net profit in the final quarter of this year, gave no profit target on Wednesday and said capital spending would rise about 50 percent more than previously forecast this year, to around $2.25 billion. New shares and debt will likely be issued at some point, Chief Executive Elon Musk added.
Federal authorities told North Carolina's governor on Wednesday that a new state law limiting restroom access for transgender people violates the U.S. Civil Rights Act. In a letter to Republican Governor Pat McCrory the Justice Department said North Carolina was "engaging in a pattern or practice of discrimination against transgender state employees." The letter, seen by Reuters, said the state had until Monday to say whether it would remedy the violations. Republican state legislative leaders said they still supported the law despite the federal warning.
WASHINGTON (AP) — Donald Trump's last Republican foe, Ohio Gov. John Kasich, ended his quixotic presidential campaign Wednesday, cementing Trump's remarkable triumph as his party's presumptive nominee and launching him toward a likely fall battle with Hillary Clinton. Some reluctant Republicans began to rally around Trump, but others agonized over their party's future.