Elon Musk denies claims Tesla is getting involved in bitcoin February 21, 2019 Elon Musk has said Tesla has no plans to get involved with bitcoin at the moment, believing that the cryptocurrency is not an efficient use of the company’s resources. The Tesla chief executive praised cryptocurrency as a potential replacement for paper money in an interview on FYI, a podcast by ARK Investment published today. “Crypto is [...]
Tesla to buy battery firm Maxwell Technologies for $218m February 4, 2019 Electric vehicle manufacturer Tesla has agreed to buy energy storage firm Maxwell Technologies for $218m, as part of an all-stock deal to help Tesla build better batteries. Maxwell has developed tech that can help increase the driving range of electric cars while reducing the battery cost. Existing customers of the firm include General Motors and [...]
Elon Musk test fires new Space X Raptor rocket engine for Starship space craft February 4, 2019 Eccentric tech billionaire Elon Musk’s space exploration company Space X has test fired the Raptor engine for its Starship space craft. Musk tweeted videos of the tests today from Space X’s Texas base. Read more: Elon Musk wants you to work 100 hours a week First firing of Starship Raptor flight engine! So proud of [...]
Is Tesla still a growth company? January 31, 2019 | City Talk An OK quarter from Tesla, certainly some of the worst immediate fears have not materialised, but the outlook is a little dubious. Back to back quarterly profits – the first time ever and only the fourth positive quarter since listing in 2010 – will get headlines but one must fear that CEO Elon Musk is [...]
Tesla tops revenue forecasts but profits take a hit January 30, 2019 Electric vehicle manufacturer Tesla has posted a smaller profit tonight than in its previous quarter, as fresh legislation and ramped up production costs took a bite out of its success. The firm made a net profit of $139.5m (£106.4m) in the three months ending 31 December, compared with a $311.5m profit in the previous quarter when it still [...]
Apple sales come to the fore as big tech firms brace for crunch results January 29, 2019 Silicon Valley will be preparing for market instability this week as several members of the so-called Faang grouping gear up to report quarterly results for the recent festive period. Three members of the big tech club – which includes Facebook, Apple, Amazon, Netflix and Google – will publish figures amid rising speculation that their time [...]
Hacking Wall Street: Are tech unicorns about to disrupt stock market flotations? January 21, 2019 Tech companies have changed the way we chat, bank, travel and date. Are they about to disrupt capital markets too? “In [Silicon] Valley there’s always been that mentality: how do we hack Wall Street?” says Rob Kniaz, a founder of tech-focused venture capital firm Hoxton Ventures. Two weeks ago reports broke that Slack, the workplace [...]
CEO Elon Musk reveals plan to slash Tesla headcount as electric car firm targets “tiny profit” January 18, 2019 Tesla is set to cut its workforce by around seven per cent, sending shares down in pre-market trading. Chief executive Elon Musk told staff that the company has "no choice" but to reduce its full-time employee headcount after growing unsustainably large. Read more: US billionaire reveals significant stake in Tesla Musk also blamed squeezing margins at [...]
Elon Musk company SpaceX to cut 10 per cent of staff January 12, 2019 Elon Musk’s company SpaceX will cut around 10 per cent of its 6,000 staff, it revealed on Friday. The company announced it would be parting ways with around 600 people due to the “extraordinarily difficult challenges ahead”. “To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, [...]
Elon Musk says the next Tesla Roadster will be a flying car January 10, 2019 Billionaire entrepreneur Elon Musk is about to combine the efforts from his two biggest companies to tackle one of technology's greatest challenges: building a flying car. The Tesla chief executive said on Twitter late last night that the firm's next Roadster vehicle will be able to hold itself in mid-air, as well as travel both vertically and [...]