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 [...]
Elon Musk hit by fresh lawsuits over Tesla share price rigging claims | City A.M. August 11, 2018 Tesla and its billionaire chief Elon Musk were hit by two new lawsuits yesterday, over claims that Musk’s surprise proposal to take the company private was scheme designed to target short-sellers of Tesla stock. Musk announced on Twitter earlier this week that he was considering taking the electric carmaker private at a share price of [...]
Apple re-hires Tesla’s ex-engineering chief for its self-driving car unit | City A.M. August 10, 2018 Tesla’s former chief of engineering Doug Field has landed on his feet – back at his old firm Apple. Field will be joining Apple to work on its self-driving car unit Project Titan, which until recently was shrouded in relative secrecy. He previously worked at the firm on engineering Apple’s Mac computers, alongside Titan’s current [...]
Softbank held talks with Elon Musk about taking Tesla private in 2017 | City A.M. August 9, 2018 Tesla’s chief executive Elon Musk met the head of Japanese mega-investor Softbank in 2017 to discuss a potential investment in the company, including the possibility of taking it private. Masayoshi Son held talks with Musk in April last year on the matter, but discussions on taking Tesla off the public stock market failed to progress [...]
Chinese tech stocks rise as its national leadership group gets an overhaul | City A.M. August 9, 2018 Technology stocks in China rose overnight after Beijing said it has revamped its national leadership group for the sector. Tasked with doing the research and planning for China’s government strategy on tech, the former National Technology and Education Leadership Group has now had the “education” dropped from its name to represent a narrowed focus from [...]
Tesla’s share price (TSLA) loses headwind as analysts cast doubt on Musk’s plans to take it private | City A.M. August 8, 2018 Tesla’s share price was down more than two per cent as markets opened in the US this afternoon, after analysts on Wall Street balked at its chief executive Elon Musk’s claims he could take the firm private. Trading was temporarily suspended yesterday following a string of tweets from Musk in which he said he was [...]
Musk’s Tesla tweet ‘makes a mockery’ of trading rules | City A.M. August 8, 2018 Elon Musk’s tweets suggesting he would take Tesla private “makes a mockery of public markets disclosure”, a director of Fidelity Investments has said. Musk last night said he was considering delisting the electric car firm, offering shareholders $420 per share – around a fifth higher than the price at the time. His comments – made [...]
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 [...]
Tesla shares have been suspended following Elon Musk’s tweets on taking company private | City A.M. August 7, 2018 Tesla shares were suspended yesterday evening following a string of tweets by billionaire founder Elon Musk in which he said he was considering taking the company private, leading to a share price spike. Tesla shares came to a halt up 7.39 percent at $367.25. Musk raised eyebrows when he took to Twitter to claim he [...]
Last Week in the City: Trade fears re-emerge August 3, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (30 July to 3 August 2018). Interest rates were raised in the UK for the second time since the financial crisis, but the move was widely expected. The earnings season continued. Growth in all regions was [...]