Tesla hits the brakes (again); the Galaxy Fold finally comes off hold, and more top news

The news professionals are talking about now, curated by LinkedIn’s editors. Join the conversation on today's stories in the comments.

Tesla continues to hemorrhage money despite a recent surge in sales, racking up $408 million in losses in the second quarter. The strong sales numbers were negated by increased spending on a new plant in China and shrinking margins caused by recent price cuts, according to the electric car company. The result once more raised further doubts on whether “building and selling electric cars can be a sustainably profitable business,” says Bloomberg. Tesla’s chief technical officer also revealed his departure, the latest in “a long line” of top executives exiting. ? Here’s what people are saying. 

Also: Nissan plans to slash more than 12,500 jobs globally, as well as 10% of its production capacity, by 2023. ? Here’s what people are saying.

Following months of delay, Samsung has announced it will start selling its foldable phone — the $2,000 Galaxy Fold — in September. The world’s largest smartphone maker says it has fixed the issues that plagued test reviewers back in April, such as broken hinge and flickering screens. The Galaxy Fold, which will be released in selected countries, could be the first foldable-screen device on the market after Huawei’s rival folding phone, Mate X, also faced delays. ? Here’s what people are saying.

Southwest Airlines will stop operating from Newark Liberty International Airport due to the “extensive delays” in Boeing’s MAX planes returning to service. In a statement, the Dallas-based airline says it will move all its operations to New York’s LaGuardia Airport from November. Boeing, which is still testing changes to the MAX jets' software, is uncertain of when they will be certified to fly again following two fatal crashes. The news is yet another blow for the aerospace company, which reported a $2.9 billion loss in the second quarter — its worst ever — with revenue falling to $15.8 billion. ? Here’s what people are saying.

Facebook swiftly shrugged off the record $5 billion fine it was handed this week by the Federal Trade Commission for mishandling users’ data. After being hit with the largest penalty ever imposed on a tech company for violating consumers' privacy rights, the social media juggernaut unveiled resilient, better-than-expected earnings results — posting a $2.6 billion profit. Facebook's earnings reveal was followed by an announcement that it is under another investigation by the FTC — this time for possible antitrust violations. ? Here’s what people are saying.

A small California town may have been heralded for raising its minimum hourly wage to $16.30 — the highest in the U.S. — but it's taking its toll on businesses that can't keep up. Restaurant owners in Emeryville are being forced to lay off workers, with some even canceling their dinner services, says The Wall Street Journal. Home to Pixar Studios and sky-high rents, Emeryville has become "ground zero" for the debate on how local governments should increase minimum wage requirements for hourly workers, while ensuring the businesses who employ them can continue to do so. ? Here’s what people are saying.

Idea of the Day: When starting a new business, don't give up even though the odds will be against you, says Robert Herjavec, Herjavec Group Founder and ‘Shark’ on ABC’s Shark Tank.

“Remember that nobody will believe in your idea as strongly as you and by extension, nobody will know what you’re going through to succeed — except you.”

What's your take on today’s stories? Share your thoughts in the comments.

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