Zuckerberg defends Facebook: ‘Companies aren’t bad just because they’re big’ July 29, 2020 Facebook chief Mark Zuckerberg is set to tell Congress that “companies aren’t bad just because they are big,” as the world’s biggest social media company today faces a historic investigation into its size and power. Zuckerberg is expected to tell the US Congress that Facebook became successful “the American way, by starting out with nothing [...]
The City View: Patrick L Young on exchanges and the future of finance July 28, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS In today’s bumper edition of The City View, Andy Silvester is joined by entrepreneur, author and former exchange boss Patrick L Young. Patrick takes us on a global tour of exchanges and the plumbing of the world’s financial system, touching on the remarkable technological achievements of the last two [...]
Bespoke Aston Martin Vanquish 25 is a retro supercar dream July 25, 2020 Die Another Day certainly isn’t the best Bond film – and frankly, Pierce Brosnan isn’t the best Bond. But the Aston Martin Vanquish might be the coolest car modified by Q Branch. Having shaped the Vanquish two decades ago, Ian Callum has now modified one, too. The famous car designer’s new company – simply called [...]
Musk qualifies for $2.1bn payday after Tesla rally July 21, 2020 A prolonged bounce in Tesla’s share price means its chief executive Elon Musk has qualified for a $2.1bn payout, in his second award since May. The electric carmaker’s six-month average market capitalisation officially surpassed $150bn today, triggering the vesting of the second of 12 tranches of options granted to Musk in 2018. Musk, who is [...]
Steve Coogan’s ‘perfect’ Jaguar E-Type up for sale July 19, 2020 As Alan Partridge, Steve Coogan refused to drive a Rover 100 (“They’ve rebadged it, you fool!”) and lusted after a Lexus (“the Japanese Mercedes”). Later, as Tommy Saxondale, he cherished his Ford Mustang Mach 1, but drove a Renault Kangoo (“Grab a pew in the Kangoo”) for work. In real life, Coogan has rather more [...]
Fast Ford icon: Rare Sierra RS Cosworth heads to auction July 18, 2020 “A working class hero is something to be,” declared John Lennon. Anyone who grew up idolising the Ford Sierra RS Cosworth would surely agree. With its wide wheelarches and whale tail wing, the ‘Cossie’ looked brilliant on a bedroom wall. And its 204hp turbocharged engine offered Porsche-baiting pace: 0-62mph in 6.5 seconds and a top [...]
Tesla shares surge again on hopes of S&P 500 listing July 13, 2020 Shares in electric vehicle firm Tesla continued their meteoric rise today, jumping another 14.6 per cent to hit $1,770.33 this afternoon. The new increase means that the firm’s shares have increased over 650 per cent in the last 12 months, when they were trading at $233. Since beating expectations for vehicle delivery numbers at the [...]
Amazon-backed Tesla rival Rivian picks up $2.5bn in single round July 10, 2020 Rivian, an electric truck-making startup backed by Amazon and Ford, has raised $2.5bn in a fresh funding round led by T. Rowe Price. The new round takes the total investment in Rivian to at least $6bn, including a $1.3bn round in December also led by T. Rowe Price. Rivian’s latest funding round was supported by [...]
Tesla nears record for first stock to reach $20bn short interest July 10, 2020 Tesla is nearing a milestone as the first stock to ever reach $20bn in shorted shares, as its share price continues to rally. Data from S3 Partners released after markets closed yesterday showed Tesla reached a short-interest level of $19.2bn, climbing as high as $19.95bn at one point. S3 analyst Ihor Dusaniwsky said yesterday Tesla [...]
Zuckerberg: Advertisers will be back on Facebook ‘soon enough’ July 2, 2020 Mark Zuckerberg has brushed off staff concerns of an ongoing advertising boycott at Facebook, saying it will have very little impact on the business. The Facebook chief executive told employees at an internal meeting last week that the move only affects a “small” chunk of its revenue, adding: “My guess is that all these advertisers [...]