The real revolution in electric vehicles… May 13, 2019 Electric vehicles (EVs) have reached a clear inflection point. Product quality has improved and consumer availability is expanding rapidly. Perhaps most importantly, the cost of electric car ownership is finally approaching parity with traditional combustion engine cars. The colourful stories within the industry have also helped generate interest: the spectacular and turbulent growth story of [...]
Musk to step down as Tesla chairman and pay $20m fine in settlement with US regulators September 30, 2018 Elon Musk is to step down as chairman of Tesla after settling a fraud lawsuit with US regulators over tweets he made about taking the firm private. The billionaire boss of the electric car-making firm has also agreed to pay a $20m (£15m) fine from the US securities and exchange commission (SEC), staving off a [...]
Time to face the music: US regulator wants answers over Musk tweet August 17, 2018 Tesla shares fell tonight on reports that the US markets regulator is seeking to question the car giant’s executives over boss Elon Musk’s plan to take the company private. The Securities and Exchange Commission (SEC) has sent subpoenas to Tesla as part of its investigation, Fox News reported. Tesla’s shares dropped four per cent on the [...]
Tesla braced for a big hit from legal claims following Musk’s Twitter gaffe August 16, 2018 Tesla’s legal team is bracing itself for a number of potential legal claims following an uproar caused by Elon Musk’s disclosures on Twitter that he was considering taking the company private. Fox News reported that the legal team for the controversial CEO was preparing itself for the costs of private litigation to exceed any fine [...]
Tesla to defend lawsuit alleging foreign workers were threatened with deportation October 3, 2018 A case filed against Tesla in California which alleges the firm knew foreign employees were threatened with deportation has been given the green light to go to trial. US federal judge Lucy Koh ruled Tesla must defend itself against two of seven claims, in which the plaintiffs argue foreign workers at its Fremont, California plant [...]
Tesla has filed a lawsuit against the former employee who hacked its systems June 20, 2018 Tesla has filed a lawsuit against Martin Tripp, the former employee who allegedly orchestrated a hack and subsequent data leak on the company’s operating systems last week. Musk accused Tripp of “extensive and damaging sabotage” in an email circulated to staff on Sunday night, which was followed by another email regarding a small fire on [...]
Blackrock and Metro Bank on shortlist for new responsible business award September 3, 2018 The City of London Corporation has revealed the businesses shortlisted for the Lord Mayor’s Business of Trust Champion Award, a prize aimed at celebrating companies with are championing responsible business practices. Asset manager Blackrock and high-street bank Metro Bank are among the six companies on the shortlist, which includes SMEs and large corporate firms across [...]
Amazon poised for trillion-dollar valuation despite stock shorts September 2, 2018 Amazon is set to become the second US publicly-listed company to reach a $1 trillion (£771.2bn) market capitalisation this week, despite it overtaking Tesla as the most shorted stock on Wall Street. The e-commerce giant broke past the $2,000 per share milestone on Thursday evening, holding investors in suspense. Fellow tech giant Apple became the first [...]
Tesla shares sink nearly three per cent after Musk calls British caver ‘pedo guy’ on Twitter | City A.M. July 17, 2018 Tesla shares closed nearly three per cent down yesterday after boss Elon Musk sent a derogatory tweet about one of the British cave divers involved with the rescue of a football team in Thailand. Shares fell up to 3.5 per after Musk wrote a tweet, which has since been deleted, calling British caver Vernon Unsworth [...]
To go private, or stay public? Everything you need to know about Tesla’s big share buyback August 13, 2018 Who's looking to cash in on Tesla? Will Elon Musk keep his cool? What do the regulators think? Here's everything you need to know about the current status of Tesla going private. What's happened so far? On Tuesday last week, chief executive Elon Musk sent out a tweet saying that he is considering taking Tesla [...]