A Tesla shareholders’ trial is scheduled to begin in California at 10:30 a.m. ET on Jan. 18, with jury selection on Tesla shareholders’ claims against the company. Elon Musk and Tesla directors are facing allegations that Musk fraudulently inflated Tesla stock in 2018 by posting on Twitter that he was considering taking the electric vehicle…
Tesla Shareholders’ Trial Begins
A Tesla shareholders’ trial is scheduled to begin in California at 10:30 a.m. ET on Jan. 18, with jury selection on Tesla shareholders’ claims against the company. Elon Musk and Tesla directors are facing allegations that Musk fraudulently inflated Tesla stock in 2018 by posting on Twitter that he was considering taking the electric vehicle…
Volkswagen Targets 75 Billion Euro Valuation in Landmark Porsche IPO
HAMBURG/BERLIN—Volkswagen is targeting a valuation of up to 75 billion euros ($75.1 billion) for luxury sportscar maker Porsche, it said on Sunday, in what will be Germany’s second-largest initial public offering (IPO) in history. Volkswagen will price preferred shares in the flotation of Porsche AG at 76.50 euros to 82.50 euros per share, the carmaker…
Spirit Airlines Defers Key Shareholder Vote on Frontier Deal Again
Spirit Airlines Inc. on Wednesday postponed a key shareholder vote on a proposed deal with Frontier Group Holding Inc. until next week. What Happened The Florida-based airline said it aims to discuss more options with Frontier and rival suitor JetBlue Airways Corp.. This is the second time Spirit has postponed the vote and said the meeting will now reconvene on July…
Millions of Chinese Customers Unable to Access Their Bank Deposits
Millions of Chinese bank customers have not been able to access their deposits for more than a month. While the Chinese bank regulator claimed that its investigation found illegal wealth collecting activities involving a major shareholder and a third party platform, customers believe the regulator failed to safeguard people’s interest in the first place. On…
Musk No Longer Twitter’s Largest Shareholder: Who Has the Top Spot With an Over 10 percent Stake in the Company?
As Tesla Inc CEO Elon Musk hopes to buy Twitter Inc in a $43 billion deal, he is now no longer the company’s largest shareholder. What Happened: A recent SEC filing shows that Vanguard Group is now the biggest shareholder of Twitter with a 10.3 percent stake in the company. That’s 82.4 million shares, worth $3.7 billion as of Friday’s…
Toshiba Says 3D Drops Part of Proposal on Articles of Incorporation
TOKYO—Japan’s Toshiba Corp. said on Tuesday that a major shareholder, 3D Investment Partners, had withdrawn part of its shareholder proposal. Last week, Toshiba said it planned an extraordinary general meeting of shareholders for March 24 to seek initial approval to hive off its devices business.
Roche Shareholders Approve Deal to Buy Novartis’s $20.7 Billion Stake
ZURICH—Roche shareholders voted overwhelmingly on Friday to support the $20.7 billion deal to buy Novartis’s nearly one third voting stake, the Swiss drugmaker said. Roche held an extraordinary general meeting to settle matters related to its plan to disentangle the two pharma companies, both based in Basel, who had been linked by the investment for…
Lord Rothermere in Bid To Take Daily Mail Newspaper Group Private
Lord Rothermere is considering a bid to make the owner of the Daily Mail, Mail on Sunday, and Metro newspapers private in a deal worth £810 million ($1.1 billion). The newspapers are currently part of the Daily Mail and General Trust (DMGT), listed on the stock market since 1932. But if the sale of its…
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