Tencent hands shareholders $16.4 bln windfall in the form of JD.com stake
Chinese gaming and social media company Tencent (0700.HK) will pay out a $16.4 billion dividend by distributing most of its JD.com (9618.HK) stake, weakening its ties to the e-commerce firm and raising questions about its plans for other holdings.
Nissan to spend $17.6 bln over 5 years in electrification push
Nissan Motor Co (7201.T) announced it will spend 2 trillion yen ($17.59 billion) over the next five years to accelerate vehicle electrification, aiming to catch up with rivals in one of the fastest growth areas for the automobile industry.
Tesla to invest $188 mln to expand Shanghai factory capacity -Beijing Daily
Tesla Inc (TSLA.O) plans to invest up to 1.2 billion yuan ($187.91 million) to expand production capacity at its Shanghai factory that will allow it to employ 4,000 more people at the site, state-backed Beijing Daily newspaper reported on Friday.
‘Big Short’ Burry exits bearish bets on Tesla, Google
Fund manager Michael Burry of “The Big Short” fame exited bearish bets on Tesla Inc (TSLA.O), Alphabet Inc’s (GOOGL.O) Google, and fund manager Cathie Wood’s ARK Innovation fund (ARKK.P) last quarter, according to SEC filings released on Monday.
Musk begins testifying in defense of Tesla’s $2.6 bln deal for SolarCity
WILMINGTON, Del., July 12 (Reuters) – Elon Musk took the stand on Monday to defend Tesla Inc’s (TSLA.O) 2016 acquisition of SolarCity against a lawsuit by shareholders seeking to recoup the $2.6 billion the company paid for the ailing solar panel maker. “Pretoria, South Africa,” said Musk, responding to the first question of where he was born. […]
Musk trial asks the $2 bln question: Who controls Tesla?
More than $2 billion hinges on that question as a trial kicks off on Monday. Shareholders allege that Musk used his control of Tesla to force the company in 2016 to rescue SolarCity, saving the solar panel maker – and Musk’s investment in the company – from bankruptcy.
Tesla ‘recalls’ vehicles in China for online software update
Chinese regulators said on Saturday Tesla Inc (TSLA.O) would ‘recall’ nearly 300,000 China-made and imported Model 3 and Model Y cars for an online software update related to assisted driving, with owners not required to return their vehicles.
EXCLUSIVE Tesla supplier CATL plans a major battery plant in Shanghai -sources
China’s CATL (300750.SZ) is planning a major new automotive battery plant in Shanghai, continuing a blistering pace of expansion that will cement its lead as the world’s No.1 supplier, two people with knowledge of the matter said.
Wall St edges up ahead of key economic data, AMC soars
Wall Street’s main indexes posted slim gains on Wednesday ahead of key U.S. economic data due later in the week as investors weighed inflation concerns and a fresh surge in so-called “meme stocks.”
Dogecoin jumps on news of launch on Coinbase Pro
Dogecoin, a meme-based cryptocurrency popular among retail investors, surged on Wednesday, benefiting from news that digital asset exchange Coinbase (COIN.O) will make the crypto unit available to its users on its trading platform.
