Nasa has just launched its latest spacecraft to Mars, Insight, to measure ‘Marsquakes’ May 5, 2018 Nasa today launched a rocket headed to Mars with the Insight probe on board, in a mission to measure quakes on the red planet. The US space agency worked through the Californian fog at the Vandenberg Air Force Base to get the Atlas V rocket, which is carrying Nasa’s Insight probe, into the air at [...]
Tesla boss Elon Musk defends move to dodge analyst’s questions after brusque responses further share price falls May 4, 2018 Tesla boss Elon Musk has defended his decision to dodge questions posed to him by analysts after revealing a record $710m (£523m) loss, after his firm’s share price appeared to suffer as a result. More than $3.4bn was wiped off the value of the Californian car company after it posted results showing it had burned [...]
Testy Tesla boss Elon Musk sees $2bn wiped from car maker’s market capitalisation May 3, 2018 Tesla boss Elon Musk has paid a steep price for rebuking analysts asking about the company’s profit potential during a conference call – $2bn (£1.47bn) to be exact. The electric car manufacturer yesterday announced its first quarter result, which showed the company had posted its largest ever quarterly loss. To achieve profitability, Tesla will have [...]
Morning markets: FTSE tumbles after Wall Street wobbles and Asian shares slide May 3, 2018 The FTSE 100 slipped 0.3 per cent after the bell this morning, falling well below the 7550 levels it had reached earlier in the week, before rallying back towards 7540. Major European markets also fell in early trading with French CAC, Germany’s DAX and the Spanish IBEX all falling over 0.20 per cent. The FTSE’s [...]
How Silicon Valley’s finest Tesla can learn from British tech titan Sage May 2, 2018 Execs at Britain’s biggest tech firm Sage were in bullish mood today despite conceding the last six months “had not gone to plan”. Around £1.5bn has been wiped from Sage’s market value since mid-January as investors took a dim view of a dip in its revenue growth. But let’s just underline one thing here: Sage’s [...]
Tesla earnings preview: Can Elon Musk’s Silicon Valley car maker beat the odds? April 29, 2018 American car maker Tesla is set to announce its first-quarter results on Wednesday 2 May, but with a series of setbacks in recent months, investors may be wondering whether the company can live up to expectations. Analysts at S&P Global Market Intelligence expect the company to report a loss of $3.52 (£2.56) per share in [...]
Elon Musk shares how to improve productivity with Tesla employees telling them to walk out of meetings April 19, 2018 Tesla boss Elon Musk has told employees to walk out of meetings and end calls as soon as possible in an effort to boost productivity. In an email to employees at the electric car firm, Musk has sought to boost production of the highly-awaited Model 3 sedan, with goals to lift output in the coming [...]
Elon Musk’s Tesla has temporarily stopped Model 3 production as it aims to tackle bottlenecks April 17, 2018 Elon Musk’s Tesla has pressed the pause button on its Model 3 assembly line for a brief period. The firm said the planned stoppages are used to “improve automation and systematically address bottlenecks in order to increase production rates”. Tesla is under pressure to meet targets amid what Musk has dubbed “production hell”. The car [...]
Brexit is not to blame for Jaguar Land Rover’s job cuts and production changes April 16, 2018 Jaguar Land Rover’s 40,000 British workers will today be furnished with the finer details of how many cars are to roll off the ramps over the next year. Production will be slashed as 1,000 West Midlands jobs are cut at Britain’s biggest carmaker. The firm’s UK sales are down by more than a quarter so [...]
SpaceX’s value on course to rocket to $24bn as fundraising targets $500m | City A.M. April 12, 2018 Elon Musk’s SpaceX is plotting a new round of funding which could see its value skyrocket to almost $24bn (£16.9bn). The company hopes to raise $507m in a move that would make it the third highest-valued private company in the US. Filings obtained by private analytics firm Lagniappe Labs showed that the company had authorised [...]