Last Week in the City: Markets Trumped by trade fears June 22, 2018 The week was dominated by trade war fears as Donald Trump said he would slap further tariffs on Chinese goods should there be any retaliatory measures. Despite this, Nasdaq hit a record high, although the Dow Jones Industrial Average erased all its gains in 2018 so far. The FTSE 100 fell 0.5% over the week [...]
Tesla has filed a lawsuit against the former employee who hacked its systems June 20, 2018 Tesla has filed a lawsuit against Martin Tripp, the former employee who allegedly orchestrated a hack and subsequent data leak on the company’s operating systems last week. Musk accused Tripp of “extensive and damaging sabotage” in an email circulated to staff on Sunday night, which was followed by another email regarding a small fire on [...]
Elon Musk has accused Tesla employees of sabotage, after declaring two incidents in two days June 19, 2018 Chief executive of Tesla, Elon Musk, has written to his staff that a Tesla employee had conducted "extensive and damaging sabotage" to the company's operations in an apparent hack, and reported a fire on the Model 3 production line. The first email from Musk, delivered to Tesla employees late on Sunday night, detailed actions by [...]
Tesla (TSLA.O) cuts nine per cent of staff as Elon Musk aims at profitability June 12, 2018 Electric car maker Tesla is cutting several thousand jobs across its workforce in a bid to reduce its costs as it ramps up production on the Model 3, chief executive Elon Musk confirmed in a tweet last night. In an email sent to staff, Musk said the cuts, equivalent to about nine per cent of [...]
Richard Branson says ban on diesel and petrol-fuelled cars should be brought forward to 2025 June 7, 2018 Richard Branson, a new pioneer of electric cars, has said the ban on petrol and diesel vehicles should be brought forward from 2040 to 2025. Speaking at a Formula E event, the tycoon said the UK should follow in the paths of environmentally friendly countries Norway and the Netherlands, who have a 2025 ban in [...]
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.” [...]