Tesla share price gets into gear after company shows profit in third quarter October 25, 2018 Shares in Tesla have shot up 7.5 per cent today after the company moved into the black in its third quarter results. The carmaker last night said it had turned a $619m (£241m) loss into a profit of $311m in the last three months. Revenue reached $6.82bn, smashing estimates from Refinitiv of $6.33bn. The results will [...]
Dismissal secured: Tesla gets Model 3 lawsuit thrown out on shareholder claims August 28, 2018 A lawsuit accusing Tesla of inflating its stock by pitching unattainable production numbers for its Model 3 sedan has been dismissed by a US judge in California. In a decision published late last night, US district judge Charles Breyer said shareholders had not provided enough evidence to suggest Tesla needed to be clearer that Model 3 [...]
Musk denies rumours of James Murdoch as lead candidate for Tesla chairman October 11, 2018 Tesla billionaire Elon Musk has denied reports that 21st Century Fox chief and Tesla board member James Murdoch is the lead candidate to replace him as chairman of the electric carmaker. In response to a report by the Financial Times late last night that Murdoch was the favourite to take the top spot, Musk tweeted at [...]
Tesla raises fears over China tariffs despite beating Model 3 delivery targets October 2, 2018 Production of Tesla cars reached a record high in the last quarter, but the firm remained hesitant of future success in China as a result of 40 per cent tariffs imposed on automotive imports from the US. The electric vehiclemaker said it produced over 80,000 cars in the third quarter, while deliveries to customers reached [...]
Nico Rosberg on his new life as a tech investor: “I struggle to invest in some boring s**t. For me it’s important that they’re cool.” October 11, 2018 His racing days might be behind him but the competitive fire still burns inside Nico Rosberg – only now the ex-Formula One world champion has an altogether different outlet. Since his sudden retirement in 2016, Rosberg has embarked on a second career as an investor, with a particular focus on tech-leaning companies such as Uber [...]
Musk comes good on profit pledge as Tesla rolls into the black October 24, 2018 Elon Musk delivered Wall Street his long-promised pledge of putting Tesla in the black late this evening, with shares soaring more than 12 per cent after the bell as the company produced its largest quarterly profit ever. In one of the most highly anticipated reports of the third-quarter, electric car company trumped expectations after it [...]
The next generation of tech innovators need to be good citizens, not just good inventors August 23, 2018 The future is what the next generation makes it. No surprise, then, that today’s visionary leaders including Elon Musk, the Massachusetts Institute of Technology (MIT), and Stanford University are exploring how best to arm students with an education fit for innovation. Elon Musk’s Ad Astra super-school is the most recent headline-grabbing initiative of this kind, [...]
Musk confirms Saudi sovereign fund as Tesla’s primary source of buyback funding | City A.M. August 13, 2018 Tesla’s chief executive Elon Musk confirmed today that he’s in talks with Saudi Arabia’s Public Investment Fund (PIF) for taking Tesla private but no funding has been secured yet. Musk revealed in a blog post this afternoon that the PIF’s managing director had expressed “strong support for funding a going private transaction for Tesla” at [...]
Blackrock wins £30bn investment contract from Scottish Widows as owner Lloyds walks away from Standard Life Aberdeen October 12, 2018 Blackrock today won a £30bn investment contract in Lloyds Banking Group-owned Scottish Widows. The asset manager will invest the pension company’s funds in index strategies while also seeking to establish a strategic partnership to collaborate in risk management, alternative asset classes and innovative investment technology, Lloyds said. The money forms part of a £110bn pot [...]
Tesla shares fall after Musk trolls US securities watchdog October 5, 2018 Tesla billionaire Elon Musk appeared to mock the US Securities and Exchange Commission (SEC) on Twitter late last night, less than four hours after a federal judge demanded an explanation of the settlement deal reached between the two sides. "Just want to [sic] that the Shortseller Enrichment Commission is doing incredible work," wrote Musk, who has frequently [...]