Tesla shares fall after Musk trolls US securities watchdog October 5, 2018 Tesla billionaire Elon Musk appeared to mock the US Securities and Exchange Commission (SEC) on Twitter late last night, less than four hours after a federal judge demanded an explanation of the settlement deal reached between the two sides. "Just want to [sic] that the Shortseller Enrichment Commission is doing incredible work," wrote Musk, who has frequently [...]
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 raises fears over China tariffs despite beating Model 3 delivery targets October 2, 2018 Production of Tesla cars reached a record high in the last quarter, but the firm remained hesitant of future success in China as a result of 40 per cent tariffs imposed on automotive imports from the US. The electric vehiclemaker said it produced over 80,000 cars in the third quarter, while deliveries to customers reached [...]
Tesla shares bounce back after Elon Musk agrees to step down as chairman October 1, 2018 Tesla shares have jumped over 16 per cent following a backlash last week over the company's $40m (£31m) fine from the US Securities and Exchange Commission (SEC). Musk has been pursued by the SEC over a tweet he sent in August saying he has secured funding to take Tesla private at $420 per share. The SEC said [...]
DEBATE: Is Elon Musk’s erratic behaviour just the price we need to pay for brilliant entrepreneurs? October 1, 2018 Is Elon Musk’s erratic behaviour just the price we need to pay for brilliant entrepreneurs? Kathy Gromotka, associate at Downing Ventures, says YES. We back entrepreneurs because we buy into their desire and ability to behave in a way that creates value, whether they’re a star in the spotlight or operating in stealth mode. Elon [...]
Character assassination: Business bosses are starting to realise that Twitter has a price September 30, 2018 It is not boardroom discord or tumbling profits that are causing mayhem for Elon Musk, the maverick and publicity-hungry Tesla chief who is set to lose his role as chairman. It’s his Twitter habit. His case exemplifies how Twitter, the social media platform that can send 280 poorly chosen characters right round the world in [...]
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 [...]
Tesla shares drop despite board backing for Elon Musk after SEC lawsuit September 28, 2018 Tesla shares plunged almost 14 per cent today as boss Elon Musk faced the prospect of a ban from ever running a public company again. The electric car company’s board hailed Musk’s “integrity and his leadership” after the US Securities and Exchange Commission (SEC) filed legal action against him late last night. Read more: US watchdog [...]
Tesla chief Elon Musk faces ban from running a public firm in SEC fraud charges September 27, 2018 Tesla chief Elon Musk faces being barred from running a public company after the US Securities and Exchange Commission (SEC) filed legal action, accusing him of alleged securities fraud over his public statements about taking the firm private. Tesla shares dropped more than 13 per cent in after-hours trade as news of the suit broke, [...]
Tesla shares plummet as Elon Musk faces criminal probe over going private comments September 18, 2018 Shares in Tesla have plummeted after the US justice department launched a criminal investigation into Elon Musk's comments regarding taking the company private. The company's share price tumbled more than 4 per cent after it emerged that federal prosecutors had opened a fraud investigation, according to Bloomberg. The probe centres on statements Musk made on Twitter [...]