Tesla’s share price soars in double-digit increase on an apologetic Musk | City A.M. August 2, 2018 Buoyed by promises to be cashflow-positive by the end of the year, Tesla’s share price has risen more than 10 per cent on the open this afternoon. The electric carmaker, spearheaded by its charismatic chief executive Elon Musk, reported quarterly revenue above analyst expectations in a results reveal last night at $4bn (£3.05bn). Despite its [...]
Tesla shares up in after hours trading as it says it should be profitable this year | City A.M. August 1, 2018 Tesla announced revenue ahead of expectations at $4bn (£3.05bn) tonight, but its losses were steep as the electric car company continued to burn through money. It posted a loss of $742m in the three months to 30 June as its cash pile dwindled, down to $2.2bn from $2.7bn in the previous quarter. However, its shares [...]
It’s Tesla’s make or break time: Here’s what you need to know before tonight’s results | City A.M. August 1, 2018 Investors are waiting with bated breath to see what Tesla brings out in its second quarter earnings report tonight, as the company nears its make or break deadline. If you’ll be looking out for the results as markets close in the US, here’s what we think you might want to know about. Legal issues It [...]
Tesla released a $1500 surfboard, and it sold out in a matter of hours | City A.M. July 29, 2018 Tesla debuted a new product on Saturday night, in the form of a perfectly normal surfboard. Branded with the Tesla logo and decorated in its trademark red and black colours, the limited run of 200 boards was designed in partnership with surfer brand Lost. While Lost’s boards usually retail within the region of $800, this [...]
Facebook has quietly set up shop in China, despite its sites being blocked there | City A.M. July 24, 2018 Facebook has opened a subsidiary with $30m (£22.2m) in registered capital in China, using its Hong Kong business as the sole shareholder. An official business registration was filed for the company in Hangzhou last week, Reuters first reported. Its operations will include network information technology development and related services, investment consultancy and marketing planning. Facebook’s [...]
Elon Musk’s fall should bring our stratospheric expectations down to earth July 20, 2018 Stop what you’re doing, everyone. Elon Musk – serial entrepreneur, space crusader, and cult figure to climate progressives – has given us the one thing we never expected to see from him: an apology. The Tesla founder had little choice. While the world was celebrating the miraculous rescue of the 12 boys and their football [...]
Tesla boss Elon Musk apologises after cave diver ‘pedo’ comments | City A.M. July 18, 2018 Tesla chief executive Elon Musk has apologised today to the British diver involved in the Thai cave rescue who Musk labelled as a “pedo” on Twitter. Musk had described British diver Vern Unsworth as a “pedo guy” on Twitter after Unsworth had dismissed Musk’s offer of a mini-submarine for the cave rescue as a “PR [...]
A vision of the future: The marriage of AI and Blockchain July 17, 2018 Where is Artificial Intelligence Headed? Artificial Intelligence (AI) can radically improve people’s lives if we nurture its potential. AI enables machines to mimic human traits such as learning and thinking, and is able to do this at a pace and efficacy of which humans will never be capable. We can harness this power to help [...]
Tesla shares sink nearly three per cent after Musk calls British caver ‘pedo guy’ on Twitter | City A.M. July 17, 2018 Tesla shares closed nearly three per cent down yesterday after boss Elon Musk sent a derogatory tweet about one of the British cave divers involved with the rescue of a football team in Thailand. Shares fell up to 3.5 per after Musk wrote a tweet, which has since been deleted, calling British caver Vernon Unsworth [...]
Tesla boss Elon Musk could face legal action after Thai cave rescuer ‘pedo’ comments July 16, 2018 Tesla chief executive Elon Musk could face legal action after suggesting on Twitter that one of the divers in the Thai cave rescue was a paedophile. Musk, who had provided a mini-submarine to help with the rescue, attacked British diver Vern Unsworth after he described Musk’s contribution as a “PR stunt”. Musk hit back on Twitter, claiming [...]