Amazon poised for trillion-dollar valuation despite stock shorts September 2, 2018 Amazon is set to become the second US publicly-listed company to reach a $1 trillion (£771.2bn) market capitalisation this week, despite it overtaking Tesla as the most shorted stock on Wall Street. The e-commerce giant broke past the $2,000 per share milestone on Thursday evening, holding investors in suspense. Fellow tech giant Apple became the first [...]
Apple reaches a new self-driving car milestone in its first road accident September 2, 2018 A test vehicle from Apple's self-driving car programme was involved in a road accident near its Silicon Valley headquarters last month, making Apple the latest tech giant to join a recent spate of autonomous driving incidents. One of Apple's Lexus RX 450h self-driving vehicles was preparing to join a motorway in Sunnyvale on 24 August when it [...]
Blackrock voted to remove Elon Musk as Tesla chairman August 31, 2018 Blackrock-managed funds voted in favour of replacing Tesla's billionaire founder Elon Musk with an independent chairman, it revealed yesterday. Funds run by the New-York based firm backed a shareholder proposal to oust Musk as chairman, its filing with the US Securities and Exchange Commission showed. More than 86m shares voted against the failed motion, which would not [...]
Amazon strides past $2,000 a share in trillion-dollar race August 30, 2018 E-commerce behemoth Amazon has broken past the $2,000 (£1,538) per share mark, putting the online retailer well on its way to hitting a $1 trillion market valuation. Shares in Amazon reached an all-time high of $2,010 just an hour after markets opened in the US, powering the firm past the $980bn market capitalisation milestone. Amazon made [...]
The British diver accused of being a paedophile by Elon Musk is preparing to sue him for libel August 29, 2018 Vernon Unsworth, the British diver accused of being a paedophile by Tesla boss Elon Musk, is said to be "preparing a civil complaint for libel" through his legal counsel. A letter from Unsworth's lawyer L. Lin Wood, dated to 6 August and seen by Buzzfeed News, provided grounds for a possible lawsuit against Musk for [...]
Elon Musk launches fresh attack on British diver over ‘pedo’ comment August 29, 2018 Tesla chief executive Elon Musk has revisited his earlier controversial comments in which he called a British diver helping out in a rescue effort for a group of young Thai footballers a paedophile. In the midst of a Twitter spat last night regarding his interview with the New York Times at the beginning of this month, [...]
Elon Musk’s tough year is a lesson for entrepreneurs that business isn’t all fun and games August 28, 2018 Poor Elon Musk. It might be difficult to feel sympathy for a billionaire, but entrepreneurs everywhere would have felt a pang of compassion on reading Musk’s emotional interview with the New York Times last week. As he recounted the stresses and strains of his last 12 months as head of Tesla – which he calls the [...]
Dismissal secured: Tesla gets Model 3 lawsuit thrown out on shareholder claims August 28, 2018 A lawsuit accusing Tesla of inflating its stock by pitching unattainable production numbers for its Model 3 sedan has been dismissed by a US judge in California. In a decision published late last night, US district judge Charles Breyer said shareholders had not provided enough evidence to suggest Tesla needed to be clearer that Model 3 [...]
Tesla can’t afford Elon Musk’s eccentricities August 27, 2018 In the late hours of Friday night, Elon Musk published a blog post that brought to an end a three-week period of intense speculation and investor confusion. The billionaire Tesla founder declared that, having discussed the matter with his board, taking the company private “would be even more time consuming and distracting than initially anticipated.” [...]
US markets open higher amid optimism over new trade deal with Mexico August 27, 2018 The US markets have opened amid optimism as the White House and Mexico close in on agreeing a new trade deal. Reports that the US and Mexico are close to agreeing a new North American Free Trade Agreement (NAFTA) has seen US stocks rise to all-time highs today. The Dow Jones Industrial Average jumped 159 [...]