Finance

Report: Saudi Fund in Talks with Lucid Motors

August 20, 2018 at 10:44 AM

Saudi Arabia’s Public Investment Fund, which bought a nearly 5% stake in Tesla Inc. earlier this month, is mulling a $1 billion investment to gain majority ownership of rival electric vehicle maker Lucid Motors Inc.

Trump Suggests Dropping Quarterly Financial Reporting

August 17, 2018 at 1:55 PM

President Donald Trump proposes allowing publicly traded companies to report financial reports twice instead of four times per year.

Volvo Readies IPO at $30 Billion Valuation

August 16, 2018 at 11:47 AM

Volvo Car Corp. is moving ahead with plans for an initial public offering later this year after investors indicated support for a company valuation of $30 billion, sources tell the Financial Times.

Uber Narrows Its Quarterly Losses

August 15, 2018 at 4:22 PM

Uber Technologies Inc. trimmed its second-quarter losses to $891 million from $1.1 billion in the same period in 2017.

Hella’s Annual Sales, Earnings Climb

August 15, 2018 at 10:30 AM

Lighting and electronics supplier Hella GmbH & Co. KGaA reports gains of 9% in currency-adjusted sales and 14% in net earnings for the fiscal year ended May 31.

Nexteer Posts First-Half Gains in Revenue, Profits

August 15, 2018 at 12:57 AM

Nexteer Automotive Group reports its revenue grew 4% to $2 billion, and net profit jumped 11% to $200 million in the first half of 2018.

Tesla’s Board Steps Back from Musk’s Delisting Plan

August 14, 2018 at 10:58 AM

Tesla Inc.’s board has formed a special committee to study CEO Elon Musk’s “consideration” of a plan to take the electric car company private.

Chinese EV Startup Aims to Raise $1.8 Billion with U.S. IPO

August 14, 2018 at 8:12 AM

Nio Ltd., a Chinese electric vehicle maker launched in 2014, aims to raise as much as $1.8 billion through a U.S. initial public stock offering, according to a regulatory filing.

Musk Dribbles Out More Details About Taking Tesla Private

August 14, 2018 at 12:30 AM

Tesla Inc. CEO Elon Musk says he has lined up his own legal and financial advisers to help him with his plan to take the company private.

Lawsuits Claim Tesla CEO of Fraud in Buyout Tweets

August 13, 2018 at 1:41 AM

Two investor lawsuits filed on Friday claim Tesla Inc. CEO Elon Musk made false and misleading statements about taking the company private in a deliberate effort to hurt short-sellers.

Tesla’s Board Wants Funding Details on Musk's Delisting Plan

August 10, 2018 at 12:34 AM

Tesla Inc.’s board has asked CEO Elon Musk to describe the funding he says he has “secured” to take the electric car company private, sources tell Reuters.

Analysts Question Tesla’s Ability to Go Private

August 08, 2018 at 1:46 PM

CEO Elon Musk’s cavalier nine-word tweet yesterday declaring that Tesla Inc. might be privatized has prompted questions about how the company would pull off the $70 billion deal.