Last Week in the City: Stiff competition in funerals? June 1, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (28 May to 1 June 2018). Shares in listed funeral director Dignity slumped after the UK Competition and Markets Authority (CMA) said it will examine the pre-paid funeral sector, a move that could see tougher regulation. [...]
Tesla battery manufacturer Panasonic to develop cobalt-free EV batteries May 31, 2018 Panasonic has said it plans to start development of electric vehicle (EV) batteries without using cobalt due to the production component's high price and scarcity. The company, which has an exclusive contract with Tesla to produce the batteries for the new Model 3, is trying to move away from cobalt like many other companies in [...]
Space man? Virgin boss Richard Branson says he will go to space in ‘months not years’ May 26, 2018 Entrepreneur Sir Richard Branson says he is in training to be an astronaut and his first trip to space could be in “months not years”. Talking on BBC Radio 4’s You and Yours programme multi-millionaire Branson said that he was close to achieving his long-held ambition of space travel. Read more: Richard Branson says space [...]
Mayor Sadiq Khan backs TfL working on delivering a hyperloop proposal for London May 24, 2018 Sadiq Khan has said he would back proposals for a hyperloop system in the capital, and that Transport for London (TfL) would be ready to help deliver the plans. London’s transport body does not intend to develop proposals itself at present, but the mayor said he is keeping tabs on developments, and TfL will “of [...]
Tesla: When visionaries have to deal with reality May 22, 2018 Elon Musk’s Tesla was supposed to be mainstream electric-vehicle maker, but he appeared to have rowed back on this aim over the weekend. Investors are likely to be concerned. Elon Musk’s last tweet before he went to bed on Monday was: “Just wanted to say thanks to all Tesla supporters. I damn well love you.” [...]
James Murdoch’s Tesla board position under threat amid ‘overboarded’ claims May 19, 2018 Media tycoon James Murdoch is facing calls to step down as a Tesla non-executive amid fears he is “overboarded”. Institutional Shareholder Services (ISS), the world’s largest proxy adviser, is recommending shareholders vote against the reappointment of Murdoch – son of billionaire mogul Rupert – and fellow board member Antonio Gracias. In addition, ISS has sided [...]
New electric Mercedes-Benz aiming to give Tesla a run for its money as company invests €500m in Hambach plant May 18, 2018 Daimler, the owner of Mercedes-Benz, has announced that it plans to invest €500m (£437m) in its Hambach factory in France to move production of its upcoming electric compact Mercedes-Benz. By 2022, Mercedes-Benz plans to launch more than 10 new electric cars, from compact sized to SUVs, and that the Smart brand, also owned by Daimler [...]
Tesla enters deal with Australian miner Kidman Resources for three-year supply of lithium May 17, 2018 Electric car manufacturer Tesla has signed a deal with Australian mining company Kidman Resources to supply it with refined lithium hydroxide. The two companies announced today that they are entering into a three-year agreement for the supply of lithium hydroxide, a crucial metal in the production of lithium ion batteries used in electric vehicles (EVs). [...]
Elon Musk’s SpaceX successfully launches Falcon 9 Block-5 rocket from Florida’s Cape Canaveral May 12, 2018 Elon Musk’s fledgling aerospace company SpaceX has bounced back from its failure to launch this week, successfully launching its Falcon 9 rocket from Florida’s Cape Canaveral yesterday. The Falcon 9, which is designed to eventually send NASA astronauts into space, was due to launch the day before, but an auto-abort was triggered one minute before [...]
Elon Musk’s SpaceX calls off Falcon 9 rocket launch at the last minute – but will try again today May 11, 2018 Elon Musk’s SpaceX programme will today retry the launch of a new rocket it hopes to will eventually carry astronauts into space, after last night sensationally pulling plans seconds before lift-off. The updated Falcon 9 rocket was due to take off shortly before 11pm UK time. But an auto-abort was triggered one minute before the [...]