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 [...]
Angry Birds creator reports sharp drop in quarterly revenue amid mobile gaming decline August 17, 2018 Rovio Entertainment today posted a sharp decline in revenue in its second quarter, despite sales for its games business rising six per cent. The Figures Adjusted operating profit for the second quarter fell to €6m, down from €16m in 2017. This was slightly above consensus estimates, according to analysts polled by Thomson Reuters. Total sales [...]
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 [...]
The Asus Zenfone AR is the first augmented reality focused smartphone, but is the software there to back it up? August 16, 2018 Whether or not you give two flying toots about virtual and augmented reality, the complex hardware needed to power the perpetually re-emerging technology has, over the last few years, fallen into alignment with that of high-end phones. Neither Samsung’s Gear VR nor Google’s Daydream headsets come with their own displays built in. Instead they’re built [...]
Bad Apple: Erdogan threatens iPhone boycott after spat with US August 14, 2018 Turkey's President Recep Tayyip Erdogan called for a boycott of iPhones and other American electronic products yesterday as tensions between the two countries escalated. Erdogan remained defiant amid what he called an “economic war” with the US after Washington imposed punitive sanctions on Ankara. “Whatever we buy from abroad we are going to produce here in [...]
Tesla boss says Saudis want to support buyback August 13, 2018 Elon Musk said today that he is in talks with Saudi Arabia’s Public Investment Fund (PIF) about taking Tesla private, but admitted that the exact sources of funding have not been confirmed. Musk said in a blog post that the PIF’s managing director had expressed “strong support for funding a going private transaction for Tesla” [...]
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 [...]
Legal row over Musk’s tesla plan: Here’s how the industry reacted August 12, 2018 Tesla is facing a barrage of lawsuits from investors angry at founder Elon Musk’s shock proposal to take the company private at $420 a share. The colourful entrepreneur dropped the bombshell on social media last week, claiming that funding for the move had been secured – driving shares up 11 per cent before its price [...]
Tesla shares take off as Musk mulls buyout August 7, 2018 Tesla shares were suspended this evening following a string of tweets by billionaire founder Elon Musk in which he said he was considering taking the company private, leading the stock to spike. Tesla shares were up 7.39 per cent at the time of the hiatus and took off again when trading resumed nearly two hours later [...]
Financial Conduct Authority launches ‘global fintech sandbox’ August 7, 2018 The Financial Conduct Authority (FCA) has joined financial regulators from around the world to create a new global network to boost fintech innovation. The Global Finance Innovation Network (GFIN) will aim to provide a more efficient method for innovative fintech firms to interact with regulators. The City watchdog has launched a consultation on the main [...]