LeEco may not be around in the US for much longer - the company's big attempt to make a name for itself here seems to have failed. The firm, which has had its sites set on a broad range of businesses from electric cars to streaming video, bought the property for $250 million past year from Yahoo Inc., Reuters said. At the company's United States launch event in October, CEO Jia Yueting said the property "will be an EcoCity that houses 12,000 employees". In November, chief executive Jia Yueting wrote in a letter to staff that the firm was rapidly running out of cash due to a "weak capital structure", and partially blamed the crisis on expensive ventures such as its electric auto unit.
The previous month, the company had made a big splash hosting its official US launch at the Palace of Fine Arts in San Francisco. The company also did not reveal its intention with the land, but its website shows that Genzon is looking to construct a 140,000-square-meter office building within Silicon Valley named Burlingame Point. When Reuters requested a comment from LeEco, the response was, "We are not yet ready to share plans for the land as we are still in the initial planning phase".
According to Reuters, the Silicon Valley site, dubbed as EcoCity, was part of LeEco's ambitious plans to expand its footprint to the US.
LeEco apparently expanded at a rapid rate previous year and it seems that their rate of expansion has failed to match up with its revenue scale.
Back in January, Jia said that the financing problems of LeEco would be solved in three to four months. It is company policy not to quote numbers upon request as "headcount changes routinely due to additions and/or departures", LeEco said. The company said earlier this month that it had also cut nearly 80 percent of its workforce in India.
The expensive dream of developing luxury electric vehicles by LeEco uses Faraday Future technology, which is a startup in United States funded and controlled by Jia. The conglomerate was able to secure a $2.2 billion capital injection from property developer Sunac China Holdings.
Recently, the luxury electric auto startup said it would have to scale back the size and production volume of its plant that it still has to build in North Las Vegas, Nev.
He also said the threat posed by the regime was increasing. "Let's not forget the ideological aspect of this", Graham said. Tillerson called Japan America's "most important ally" but South Korea merely as "an important partner".
And if Trump refuses to cooperate with Obama-instated refugee caps, he will be in violation of a court order. The cap "draws no distinction whatsoever on the basis of religion", government lawyers argued in a filing.
Enjoy the magical vernal equinox! While it is already meteorological spring , most consider spring to begin on the Spring Equinox. There's always someplace where the sun is directly overhead, but it only occurs exactly at the equator on the equinox.
Evolocumab is part of a new class of drugs called PCSK9 inhibitors, which are monoclonal antibodies that help lower cholesterol. The company said it plans to begin enrolling patients in a pivotal Phase III study for the drug, inclisiran, later this year.
SACRAMENTO, Calif. - Tyler Dorsey hit a contested go-ahead 3-pointer from the top of the arc with 38.4 seconds to play, E.C. Kentucky center Bam Adebayo followed Shamet and tipped the ball as it left Shamet's hand with two seconds on the clock.
Chinese smartphone maker Nubia had showcased the Z11 Mini S at MWC 2017 last month, and has now launched the smartphone in India. The nubia Z11 Mini S is the improved version of the nubia Z11 Mini launched in October past year for Rs 12,999.
Saha, who hit seven fours and a six, soon followed his overnight partner after falling to left-arm spinner Steve O'Keefe. India , on the other hand, can strengthen their grip on this Test match if they can manage to dismiss Smith.
Prime Minister Nawaz Sharif on Monday ordered to reopen the Pak-Afghan border immediately, according to local media reports. The Torkham and Chaman crossings are major arteries for $1.5bn in trade and commerce between the two neighbours.
Some of the material sent back to Earth via the Dragon will undoubtedly shed light on the progress of these important studies. SpaceX and Boeing are now working towards building spacecrafts for manned-missions, according to a space.com report.
The accident comes 11 years after Hammond was left in a coma following a high-speed smash while filming for the BBC show in 2006. The Grand Tour Crew raced to Richard's aid, mindful that he suffered serious brain damage in a 288mph collision 11 years back.
Zaterman says the cuts, which need congressional approval, would add to an already severe housing shortage for the poor. This would be enough money for pilot projects to determine the best methods to build the wall, according to Mr.
Midlands leads of the way on house price growth
East Midlands property prices are up by 2.1 per cent this month and 5.7 per cent year-on-year - higher than any other region. The figure stands only £363 below a record high of £310,471, recorded in June past year .
Dhoni's phones 'missing' during hotel fire recovered
Earlier Sunday, Deputy Commissioner of Police Surender Kumar tweeted that the three mobile phones have been recovered. Later after the fire was doused and he got back to his room, he found that his mobile phones were missing, Kumar said.
20 students killed by tree at waterfall bathing pool
Meanwhile, Minister of Tourism, Arts and Culture, Catherine Afeku, has offered her condolences to the families of the victims. He said 11 people were receiving treatment, including one of the school administrators in charge of the trip.