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Articles related to "tesla"


Elon Musk has refollowed Grimes in the wake of a DOJ investigation, following rumors of the couple's breakup and a scandal involving rapper Azealia Banks

  • Tesla CEO and founder Elon Musk has reconnected with indie pop singer Grimes on Twitter.
  • As of Wednesday morning, Musk was once again following Grimes, after unfollowing the singer— who he had been previously been dating — in late August.
  • In mid-August, Musk set off a dramatic sequence of events for Tesla when he tweeted that he was taking the company private.
  • Soon after, rapper Azealia Banks said on social media that Musk and Grimes had ignored her after the singer invited her to collaborate on music and stay at one of the Tesla CEO's Los Angeles properties.
  • Banks told Business Insider she saw Musk "scrounging for investors" after the CEO claimed he had funding secured to take Tesla private.
  • After Banks' social media claims gained widespread media attention, Musk deleted his Instagram and unfollowed Grimes on Twitter.
  • Since unfollowing Grimes, Musk has announced that Tesla will stay public.

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Five things you should know before starting your work day on Sept. 19

  • Canada has more “zombie” companies than the OECD average of 10%.
  • Didn’t know there were that many undead among us, did you?
  • Deloitte has sounded the alarm about Canada’s “zombie” companies, saying 16% of publicly traded firms more than 10 years old don’t make enough revenue to cover the interest on their debt.
  • Deloitte says these companies don’t grow or innovate, but tie up capital and labour talent that could be put to better use.
  • Meanwhile, one trade consultant said the statement should not be ignored by Canada, but also ought to be taken with a grain of salt.
  • Empire’s CEO said it has received “a tsunami of tariff-related requests for cost increases” from suppliers.
  • And as Geoff Zochodne reports, Tilray’s shares soared 30% yesterday, skyrocketing on news the company had received a key approval related to a clinical trial in the U.S.

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Rappers Are Making Tesla Sexy, Which Might Be Good For the Planet

  • Rapper interest in Tesla is twofold: They love any implication of innovation or any association with the cutting edge, and they are amused by the supercar’s toys and gadgets.
  • Elon Musk is viewed by rappers as a futurist, a mega-genius of limitless potential and possibility, and so the Tesla is perceived as the vehicle of tomorrow.
  • Among the haute, pricey brands often name-checked in rap songs, Tesla stands alone in its potential to actually have an effect on global warming.
  • The average consumer vehicle produces 4.6 metric tons of carbon dioxide per year.
  • It’s not clear whether rapper mentions have led to increased Tesla sales.
  • READ MORE: Objectified: Why Tesla Is Hip-Hop’s New Car of Choice [Pitchfork] More on Tesla: Tesla’s Staying Public.
  • More on Tesla: Tesla’s Staying Public.

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Former GM exec Bob Lutz predicts conspiracy theorists will soon be asking 'Who killed Tesla?'

  • The totality of the electric-car maker's financial, administrative, manufacturing, and legal problems, Lutz suggested, mean that Tesla's days are numbered.
  • The remarks come at a challenging time for Tesla and its CEO, Elon Musk, as US authorities investigate his claim that he had "funding secured" to take his company private.
  • Tesla is also working overtime to crank out as many of its mass-market Model 3 sedans as it can.
  • Indeed, Tesla has some daunting challenges ahead, including a massive amount of debt, including $920 million in convertible bonds that will come due by March 1, depending on where Tesla's share price ends up.
  • The company also faces a growing number of competitors that are moving into the electric-car space in earnest.
  • Lower-end competitors like the Chevy Bolt, which have the benefit of General Motors' massive manufacturing outfit, made it to market a full year before the Model 3.

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Former GM exec Bob Lutz predicts conspiracy theorists will soon be asking 'Who killed Tesla?'

  • The totality of the electric-car maker's financial, administrative, manufacturing, and legal problems, Lutz suggested, mean that Tesla's days are numbered.
  • The remarks come at a challenging time for Tesla and its CEO, Elon Musk, as US authorities investigate his claim that he had "funding secured" to take his company private.
  • Tesla is also working overtime to crank out as many of its mass-market Model 3 sedans as it can.
  • Indeed, Tesla has some daunting challenges ahead, including a massive amount of debt, including $920 million in convertible bonds that will come due by March 1, depending on where Tesla's share price ends up.
  • The company also faces a growing number of competitors that are moving into the electric-car space in earnest.
  • Lower-end competitors like the Chevy Bolt, which have the benefit of General Motors' massive manufacturing outfit, made it to market a full year before the Model 3.

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Audi launches its e-tron SUV with a party in California as it takes aim at Tesla

  • Audi unveiled the e-tron, a battery-powered crossover that's due to hit showrooms later this year, during a big Monday night bash in Tesla 's backyard.
  • Mercedes-Benz revealed its own electric crossover earlier this month, and BMW showed off another Tesla-fighting concept model on Sunday.
  • Though headlines deem every new electric offering a "Tesla Killer" and automakers around the world have been coveting Tesla's stock valuation and clean-car reputation for years, the series of events shows Elon Musk's company is on the verge of seeing more serious competition from the leaders in automotive luxury.
  • Audi unveiled the e-tron at the site of an old Ford plant in Richmond, California, across the bay from San Francisco and roughly 35 miles (56km) north of Tesla's sole auto assembly plant in Fremont.

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U.S. Justice Department is investigating Elon Musk’s statement on taking Tesla private

  • To charge Musk with a crime, the Justice Department would need to show that he intended to manipulate Tesla’s stock price, said Henning, now a law professor at Wayne State University.
  • If the Justice Department brings criminal charges against Musk and a trial results in a guilty verdict, the 47-year-old billionaire could face jail time, in addition to any financial penalties, said Jay Dubow, a former branch chief in the SEC’s enforcement division.
  • Musk’s public antipathy to short-sellers of Tesla – who have sold stock and hope to make a profit by buying it back for less later on – may help the government make the case that he intended to hurt them by claiming funding was secured, said Eric Gordon, a professor at the University of Michigan’s Ross School of Business.

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A DOJ Probe Into Elon's Tweets Could Spell Yet More Trouble for Tesla

  • While the Justice Department’s probe appears to be at a very early and not yet consequential phase, the report could indicate yet another problem for Tesla and its embattled CEO—to go with a reported Securities and Exchange Commission investigation and class-action shareholder lawsuits over the same issue, and a libel lawsuit filed against Musk by the man whom Musk accused of being a pedophile, and a stream of departures by high-level executives.
  • If federal investigators find that Elon Musk purposely misled investors and the public to goose Tesla’s stock price, then he, the company, and/or other employees involved could face fines, penalties like being forced to take a timeouts from roles in the public company—and, possibly, prison time, says Stephen Diamond, who studies who studies securities law and corporate governance at the Santa Clara University School of Law. If both the SEC and DOJ find evidence of some sort of violation and decide to move forward with their investigations, the two packs of lawyers would share information, legal experts say.

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Tesla is 'headed for the graveyard,' predicts former GM exec Bob Lutz

  • Tesla CEO Elon Musk is a nice guy who doesn't know how to run a car company, Bob Lutz, former vice chairman of General Motors, told CNBC on Tuesday.
  • Lutz's comments come after news of a criminal probe into Tesla, as well as a new competitor hitting the market in the form of Audi's new electric car.
  • Earlier in the day, Tesla said the Justice Department requested documents last month relating to Musk's tweets about taking the company private.
  • The acknowledgement followed a report by Bloomberg that the federal agency has opened a criminal investigation into Musk's comments.
  • Lutz said Tesla is "hemorrhaging cash" and because of the federal investigation, the SEC will not let it make a capital raise.
  • Tesla did not immediately respond to a request for comment on Lutz's remarks.
  • Tesla shareholder Ross Gerber doesn't think the Justice Department probe is anything to be concerned about.

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The DOJ's inquiry into Tesla has 'raised the temperature' on the company, an SEC lawyer says

  • In the wake of a reported investigation from the Securities and Exchange Commission (SEC), Tesla said on Tuesday that it had received and cooperated with a voluntary request for documents from the Department of Justice (DOJ) but had not received a subpoena.
  • While Musk said via Twitter on August 7 that he had "funding secured" for a deal to convert Tesla into a private company, subsequent news reports and statements from Musk suggested that he might not have had legally binding agreements in place to finance a go-private deal at the time he published the tweet.
  • The agency's request for documents from Tesla doesn't necessarily mean the SEC is moving closer to an enforcement action against the company, he said, but "it raises the temperature" on Tesla.
  • That being said, neither Tesla's statement nor Bloomberg's report suggests that either agency is approaching some sort of enforcement action, according to Dubow.

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