Tesla registers record sales of China-made vehicles January 11, 2022 Tesla sold a record 70,847 China-made vehicles in December, the highest number since the US company started manufacturing in Shanghai in 2019. According to data from the China Passenger Car Association, the manufacturer’s sales tripled compared with the previous year, also going up 34 per cent on November levels. The latest production influx pushed the [...]
Space firms can ‘solve problems that government’s can’t’ amid Ukraine invasion March 21, 2022 Elon Musk’s Starlink satellites have been helping Ukraine’s drone unit push back against Russian forces, as the space industry acts as a core string in Europe bow to diffuse Russia. A specialist air reconnaissance unit within the army, known as Aerorozvidka, has been picking off Russian tanks, command trucks and vehicles carrying electronic equipment since [...]
Lockheed Martin dives into Satellite Vu’s £20m funding round March 2, 2022 Lockheed Martin has dived into a £20m funding round for Seraphim Space-backed Satellite Vu, as the US aerospace giant looks to plant a new space base in the UK. The London-based satellite firm, which uses infrared imaging and data to observe the Earth from space, has caught the eye of Lockheed in hopes of luring [...]
‘The Big Short’ investor reveals $534m bet against Tesla May 18, 2021 One of the hedge fund managers made famous by the Oscar-winning film The Big Short has taken out a sizeable short position against Tesla. In a regulatory filing yesterday, Michael Burry’s Scion Asset Management said it had bearish put options worth $534m against the electric car firm’s stock. Put options give investors the right to [...]
OneWeb takeover by Chinese state-backed rival raises national security concerns July 25, 2022 The proposed takeover of British satellite darling OneWeb by French rival Eutelsat has caught scrutiny over national security. The joint company, estimated to be worth around $6bn (£4.9bn), would create a satellite and communications powerhouse to compete against Elon Musk’s SpaceX and Starlink – which currently dominates the satcoms industry. Eutelsat, which is partly owned [...]
UK space industry to benefit ‘very positively’ from Russian sanctions June 17, 2022 The UK’s space industry stands to benefit “very positively” from sanctions against Russia, which have pushed its rocket launching capabilities off the global stage, one space chief has told City A.M. Russia’s launches once rivalled SpaceX in both frequency and success. But a mixture of bans and boycotts after its invasion of Ukraine has seen a [...]
Bored Ape start-up eyes investment deal with Andreessen Horowitz February 3, 2022 The Bored Ape Yacht Club is reportedly in talks with investment fund Andreessen Horowitz over a funding round which could value it at $5bn.
Netflix shares tumble as streaming giant loses 200k subscribers April 20, 2022 Netflix reported a loss in subscribers for the first time, down 200,000 subscribers, citing inflation, emerging competition from the likes of Disney+ and Amazon, as well as the Ukraine war as contributing factors.
Square Mile and Me: Pi Labs founder Faisal Butt on succeeding in the world of venture capital January 18, 2024 Each week we ask a City figure to take a trip down memory lane. Today, Faisal Butt, founder of Pi Labs takes a look back at his career.
Ed Warner: Could AI avatars replace boxers and Formula 1 drivers? November 9, 2023 Ed Warner dons his VR headset to ponder the future of sport.