Tesla shares accelerate as car deliveries top estimates July 2, 2020 Shares in Tesla popped eight per cent as trading began today, after it posted second-quarter delivery numbers that surpassed expectations. Tesla delivered 90,650 vehicles during the quarter, above estimates of 74,130 vehicles, according to Refinitiv data. It delivered 80,050 units of its new Model Y sport utility vehicle and Model 3 sedan for the quarter. [...]
Tesla surpasses Toyota to become world’s most valuable carmaker July 1, 2020 Electric carmaker Tesla today became the world’s most valuable automobile manufacturer, eclipsing Toyota to take the crown. Tesla’s market value is now at $208bn, as shares rose more than five per cent to reach record highs of $1,132 earlier today. In comparison, Toyota was worth approximately $202bn following a small drop in its Japan-listed shares [...]
Tesla to pay Musk $1m for lawsuit insurance policy July 1, 2020 Tesla has said it plans to bring an end to an unusual insurance arrangement with its chief executive, which safeguards its board members against lawsuits, after a final payment of $1m. Tesla’s chief executive Elon Musk has been personally indemnifying the firm’s board, after he said in April that he believed insurance premiums from other [...]
Coronavirus has reshaped urban mobility but the biggest challenge remains Climate Change June 30, 2020 The argument for small, environment-friendly personal transport has been growing stronger for some time. This was true even before the Coronavirus pandemic required us to socially distance, and the government urged us all to “consider all other forms of transport before using public transport”; thus marking a reversal of the long-standing encouragement to use trains [...]
Advisers join forces in bid to oust Tesla chairwoman June 18, 2020 Proxy adviser Glass Lewis has joined ISS in recommending that investors vote against the re-election of Robyn Denholm as chairwoman of Tesla’s board. Glass Lewis said it was concern was related to corporate governance, due to an insurance arrangement with chief executive Elon Musk after Tesla’s decision to not renew its directors and officers’ liability [...]
FCA tells insurers to assess products in light of coronavirus pandemic June 3, 2020 The Financial Conduct Authority (FCA) today provided insurers with guidance on what they need to do to assess the value of their products in the light of the coronavirus pandemic. The FCA said firms should review products where benefits cannot be provided – such as boiler services due to lockdown measures – or where there [...]
Trading the covid commodities contango May 26, 2020 In the last 12 years, the oil market has thrice collapsed and twice recovered. But this latest downturn, driven by a covid-tainted drop in demand and a Russo-Saudi price war, has analysts scratching their heads. Can the market rebound from this? The price of US oil turned negative for the first time in history last [...]
Mortgage payment holidays extended until October May 22, 2020 The financial watchdog has today extended payment holidays to support those struggling to pay their mortgage due to coronavirus. The Financial Conduct Authority (FCA) said banks can extend the mortgage holidays for a further three months up to the end of October. It comes after chancellor Rishi Sunak extended the furlough scheme to October to [...]
Crypto AM shines its Spotlight on NAYMS May 12, 2020 NAYMS is building the world’s first insurance market that allows Institutional crypto-holders to underwrite cryptocurrency risk. “In 1686, individuals called ‘names’ came together to cover risk of all varieties by pledging capital in return for a yield. The Lloyds of London marketplace was born. It’s now 2020, and NAYMS is bringing together capital markets and [...]
Business travel will still matter in a post-pandemic world May 6, 2020 The outcome of the Government’s review of lockdown this week may provide a glimpse of the steps necessary for economic recovery. Yet, the business community is fully aware that recovery will be a gradual process. There will be no magic panacea. Recovery requires long and careful planning and for many industries to work closely together. [...]