Business News
Tesla’s board says Musk started go-private talks last week
Tesla Inc Chief Executive Elon Musk started talks with the company’s board last week about taking the electric car maker private, some board members said on Wednesday.
Month: August 2018
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Tesla’s board says Musk started go-private talks last week
“This included discussion as to how being private could better serve Tesla’s long-term interests, and also addressed the funding for this to occur,” the board members said. The board members said they had met several times last week with Musk and were evaluating the next steps. The statement came from six board members, including James Murdoch, chief executive officer of Twenty First Century Fox and Brad Buss, who served as SolarCity’s Chief Financial Officer till 2016. …read more […]
Business News
Wall St. opens lower as trade tensions escalate
U.S. stocks opened lower on Wednesday after China retaliated to Washington’s latest tariffs, clouding a strong showing for corporate earnings.
Business News
Wall Street sees funding hurdle to Musk’s plan to take Tesla private
Tesla Inc Chief Executive Officer Elon Musk’s plan to take the electric car maker private raised doubts among Wall Street analysts about the billionaire’ s ability to gather enough financial backing to complete the deal.
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Wall Street sees funding hurdle to Musk’s plan to take Tesla private
“Given the haphazard process of disclosure last afternoon, our initial impression was that Elon Musk sprung his plan of going private upon the public without consulting Tesla’s board of directors or major shareholders,” Bernstein analysts said in a note titled “Going private? Most analysts were skeptical, but some said a deal could materialize if Musk succeeded in lining up the right funding. “Elon’s tone and messaging regarding a potential transaction lead us to believe that there could be significant outside funding lined up,” RBC analysts said. …read more […]
Business News
New York Times digital subscriber growth slows, shares drop
The New York Times Co reported a better-than-expected quarterly profit but the company added fewer paid digital subscribers, sending its shares down about 5 percent in premarket trading.
Business News
China to slap additional tariffs on $16 billion worth of U.S. goods
China is slapping additional import tariffs of 25 percent on $16 billion worth of U.S. goods ranging from oil and steel products to autos and medical equipment, the commerce ministry said, as the world’s two largest economies escalate their trade dispute.
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The labor market may be even stronger than people realize
The nation’s historically low unemployment rate may not be telling the whole story of the economy’s strength. …read more […]
Business News
HSBC shifts European branches to French unit control ahead of Brexit
HSBC has shifted ownership of its Polish and Irish subsidiaries from its London-based entity to its French unit, and will do so for seven more European branches, as it prepares for Britain’s exit from the European Union.
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Is Now the Time to Buy L-3?
The mid-tier defense contractor has ambitions to be among the primes. Regardless of whether it gets there or not, there are opportunities for the stock to climb. …read more […]
Business News
Stock futures flat as trade fears counter strong earnings
U.S. stock index futures were flat on Wednesday, as escalating trade tensions between the United States and China overshadowed a strong showing for corporate earnings.
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GE Capital to sell energy finance unit to Starwood Property for $2.56 billion
The 126-year-old industrial conglomerate has been divesting assets worth billions from its GE Capital unit since 2015 to focus on jet engines, power plants and renewable energy. The agreement with Starwood also includes the transfer of a team of employees, GE Capital said. The deal, expected to close in the third quarter, will add to Starwood’s core earnings, the real estate investment trust said. …read more […]
Business News
Factbox: European companies respond to latest Iran sanctions
New U.S. sanctions against Iran took effect on Tuesday and President Donald Trump, who defied Washington’s allies to impose them, pledged that companies doing business with Tehran would be barred from doing business with the United States.
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Thomson Reuters grows revenue, sees Blackstone deal closing in fourth-quarter
Thomson Reuters Corp (TRI.TO) (TRI.N) on Wednesday reported a 2 percent rise in quarterly revenue and reaffirmed its 2018 forecast, saying it was on track for a “solid” year. Analysts had expected revenue of $1.31 billion (1 billion pounds) and earnings of 11 cents a share, according to Thomson Reuters I/B/E/S. Thomson Reuters reported a 6-percent decline in operating profit to $204 million, which it said was primarily due to costs and investments ahead of the planned sale of a majority stake in its Financial & Risk business to Blackstone Group LP (BX.N). …read more […]
Business News
Thomson Reuters grows revenue, sees Blackstone deal closing in fourth quarter
Thomson Reuters Corp on Wednesday reported a 2 percent rise in quarterly revenue and reaffirmed its 2018 forecast, saying it was on track for a “solid” year. The news and information provider reported second-quarter revenue of $1.31 billion, compared with $1.28 billion a year ago. Adjusted for special items, earnings were 17 cents per share, down from 19 cents per share a year ago.