Thursday, 18 October, 2018

Elon Musk to Tesla workers: Perform for profit, prove 'naysayers wrong'

Elon Musk bowed to demands from America’s financial markets watchdog to give up his position as chairman of Tesla Elon Musk bowed to demands from America’s financial markets watchdog to give up his position as chairman of TeslaBOBBY YIP REUTERS
Elsie Buchanan | 02 October, 2018, 17:56

Shares of Tesla Inc jumped almost 15 percent on Monday after Chief Executive Elon Musk settled a lawsuit from the US Securities and Exchange Commission (SEC) that sought to remove him from company management.

As part of a settlement agreed with the commission for that tweet, Elon was made to pay a penalty of $20 million as well as agreeing to step down as Tesla's chairman.

The shares closed at $307.52 on Thursday before the SEC announced its enforcement action over the tweets, in which Musk said he had "funding secured" to take the company private at $420 a share.

Musk and Tesla each agreed to pay a $20 million fine. The electric car-making company must also appoint two new independent directors to its board, establish a new committee of independent directors and implement additional oversight of Musk's future communications.

The SEC charges against Musk shaved about $7 billion off Tesla's value.

Shares of Tesla Inc jumped by nearly 18 percent on Monday as Chief Executive Elon Musk settled a lawsuit that had threatened to force him out and said a surge in third-quarter production had driven it to the verge of profitability. SEC's lawsuit sought to ban Elon Musk from ever holding an office in a publicly traded company.

Netflix is working on a choose-your-own-adventure Black Mirror episode
It appears that the rollout was a success since they're moving forward with more mature original content. Black Mirror first aired on BBC before making the transition to Netflix .


The move brings a conclusion to the SEC fraud charges over his infamous "funding secured" tweet.

In response to a question asking whether he thought Tesla would 'make it as a auto company, ' Gore replied: 'Yes!

KitGuru Says: Many had taken Musk's $420 reference to marijuana as a joke given his recent experience with the substance, however his position of responsibility makes comments about his business a hard subject, especially given its effects on the stock market. In an internal email obtained by Bloomberg, company chief Elon Musk is asking around 100 to 200 employees thinking of buying a Tesla to join an internal testing program for the automaker's full-fledged autonomous system.

According to Musk, the lawsuit had been unfair and unjustified.

Musk has long maintained his goal is to rid the world of fossil fuels, and repeated that in his recent web interview that recently created controversy because he smoked a joint live on air (which in California is legal, even if it is not common behaviour for CEOs of $50 billion companies). He'd be barred from taking back the chairmanship for three years, but he can continue to serve as Tesla's CEO.

In order to "achieve a victory beyond all expectations, Tesla must go "all out" on production on Sunday which marks the end of the quarter, Musk said".

Recommended

  • Dani Carvajal rips into Atletico Madrid after draw

    Dani Carvajal rips into Atletico Madrid after draw

    In contrast, Atletico started the season slowly with five points in the opening four games. Marcelo is one of the top players set to miss Saturday's derby because of injury.
    Donald Trump lauds 'historic' NAFTA replacement deal

    Donald Trump lauds 'historic' NAFTA replacement deal

    Trump, for his part, said the accord would return the United States to a "manufacturing powerhouse". USA law requires the White House to submit the text to Congress 60 days before signing.
    IPhone XS and iPhone XS Max reportedly hit with a charging bug

    IPhone XS and iPhone XS Max reportedly hit with a charging bug

    And if it doesn't work for you the first time - say you accidentally tap a button instead - try swiping from lower on the phone. The phone will only start charging once the screen is turned on if the power cable is inserted while the phone is asleep.
  • Amazon to raise minimum wage to $15 for USA  employees

    Amazon to raise minimum wage to $15 for USA employees

    The move comes amid a national push to have fast-food restaurants and other blue-collar employers pay workers $15 an hour. Workers across the country have pushed for a $15 minimum wage as they have drawn attention to growing income inequality.
    A Bell-Thomas swap between Steelers, Seahawks makes sense

    A Bell-Thomas swap between Steelers, Seahawks makes sense

    The network partially owned by the Steelers says they want a second-round pick and a "good" player. However, the two teams are not believed to have been in contact with one another to this point.
    Duchess Meghan Markle's Half-Sister Issues Public Apology After Months of Shaming

    Duchess Meghan Markle's Half-Sister Issues Public Apology After Months of Shaming

    Also known as Samantha Grant, Ms Markle has see-sawed between criticising and praising Meghan on social media. As for why she thinks Meghan shut her out , Samantha thinks the Duchess was simply hurt.
  • OnePlus 6T leak reveals final smartphone design ahead of the release date

    OnePlus 6T leak reveals final smartphone design ahead of the release date

    The phone's teaser matches with earlier reports of bezel-less design and an in-screen fingerprint scanner. Chinese social media website Weibo has got hold of the invite for the India launch of the OnePlus 6T .
    Deontay Wilder and Tyson Fury clash on stage

    Deontay Wilder and Tyson Fury clash on stage

    Think you can hit a bit? I picked this fight, Frank made this fight. "I want to give you guys what you want to see". I've been out for a year, now I'm coming to you, to beat you.
    Trump authorises expansion of Kavanaugh probe

    Trump authorises expansion of Kavanaugh probe

    Kavanaugh has strongly denied the allegations, but the Senate directed the FBI to investigate them for up to a week. Deborah Ramirez has accused Kavanaugh of exposing himself to her at a party while they were both students at Yale.
  • Death toll from Indonesia natural disaster  and tsunami now 1,234

    Death toll from Indonesia natural disaster and tsunami now 1,234

    The mass prison break happened after the powerful tremor sparked a wall of water that devastated the small city of Palu Friday. Dozens of people are feared to be underneath the rubble of one hotel alone, the Roa-Roa in the devastated resort of Palu .
    Previewing Game 163 for the NL West Title

    Previewing Game 163 for the NL West Title

    Colorado's new strikeout king, German Marquez , will head to the hill against Walker Buehler and the Dodgers on Monday. The Rockies offense went off for double digits several times this week but those games were against subpar pitching.
    Seahawks unfazed by Earl Thomas' one-finger salute

    Seahawks unfazed by Earl Thomas' one-finger salute

    The 29-year-old was playing the 2018 season under the final year of his contract, which has a cap hit of $10.4 million. Earl Thomas' career as a Seattle Seahawk is probably over-and it did not have a happy ending.

Arthur Ashkin, Gerard Mourou and Donna Strickland win 2018 Nobel Physics Prize Arthur Ashkin, Gerard Mourou and Donna Strickland win 2018 Nobel Physics Prize The winners will be awarded with nine million kronor (£770,000) which has been decided by the Royal Swedish Academy of Sciences. The winners of the Nobel Prize will be awarded $1 million or £770,000 by the Royal Swedish Academy of Sciences.

President Trump touts 'historic' USMCA President Trump touts 'historic' USMCA Under the new USMCA deal, Canada must amend its domestic grain-grading standards for wheat to match the existing American policy. Before that happens, there are a number of hurdles that require clearing - and in the meantime, old NAFTA is still in effect.

New third-gen Google Chromecast goes on sale before official launch New third-gen Google Chromecast goes on sale before official launch The Reddit user has also shared a picture of the new Chromecast 3 and even compared it with the second-generation version therein. Google's big October 9 hardware event is fast approaching, and that means we're deep into leak season for upcoming products.

Turkey's Erdogan defends German soccer players Turkey's Erdogan defends German soccer players He noted that Turkey lifted the state of emergency following the June 24 presidential and parliamentary elections in the country. On recent developments in the Turkish economy, Erdogan said, "They tried to topple our economy under the cover of darkness".

FBI Re-Investigating Supreme Court Nominee Kavanaugh Amid Sexual Misconduct Allegations FBI Re-Investigating Supreme Court Nominee Kavanaugh Amid Sexual Misconduct Allegations Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News. Bruce Rauner calling for the process to be delayed and Democratic congressional candidates publicly backing Ford.

Five talking points from the Premier League weekend Five talking points from the Premier League weekend Valencia have lost each of their last four Champions League games, their worst ever streak in the competition. United is off to its worst start in 28 years with 10 points through seven matches.

These three undecided Republicans will decide if Kavanaugh gets on Supreme Court These three undecided Republicans will decide if Kavanaugh gets on Supreme Court Kavanaugh's confirmation hinges on a handful of key Republican and Democratic senators who have not yet fully tipped their votes. Senate Majority Leader Mitch McConnell , R-Ky., has the vote on pace for this Tuesday.

The United States Mexico Canada Agreement: what they're saying about it The United States Mexico Canada Agreement: what they're saying about it Getting Congressional approval could be hard , especially if Democrats take control of the House, the officials said. President Donald Trump speaks about the USMCA trade agreement on October 1, 2018.

Europe Defeats U.S. to Win Ryder Cup Europe Defeats U.S. to Win Ryder Cup Rahm took him down on Sunday and reacted like you would expect a 23-year-old who grew up watching Tiger Woods to react. Everyone called the USA team one of the best ever, but Bjorn got the most out of his team, which had five rookies.

Cubs Clinch a Playoff Berth With Brewers Win in St. Louis Cubs Clinch a Playoff Berth With Brewers Win in St. Louis It's definitely manageable for the Rockies to win out and it's essential for the Dodgers to not lose any games. The Brewers have announced Gio Gonzalez (9-11, 4.34) as their starter for Sunday's game against Detroit.

Death toll in quake tops 800 Death toll in quake tops 800 People are queuing up at roadside stalls, buying petrol in bottles to take into the affected area and to find missing loved ones. Indonesia, which sits on the seismically active Pacific Ring of Fire, is all too familiar with deadly earthquakes and tsunamis.

Fishermen Run From Tsunami Waves That Strike Donggala, Indonesia Fishermen Run From Tsunami Waves That Strike Donggala, Indonesia Along with Palu , 1,500 km (930 miles) northeast of Jakarta , these districts have a combined population of about 1.4 million. The Mutiara Sis Al Jufri Airport in Palu was closed for 24 hours after the tsunami but has since reopened to limited flights.

Google dives into game streaming with Assassin’s Creed Odyssey Google dives into game streaming with Assassin’s Creed Odyssey Google is calling Project Stream "a technical test to solve some of the biggest challenges of streaming". With Project Stream , that takes it to a whole new level.

Man Utd boss Mourinho ready to see Alexis sold in January Man Utd boss Mourinho ready to see Alexis sold in January Mourinho will have a chance to silence his critics when his side host Valencia in the UEFA Champions League on Tuesday. "If you want the truth I think it was honestly horrendous", Shaw told reporters.

Limited screen time good for children's brains Limited screen time good for children's brains On average, kids aged between 8 and 11 spend 3.6 hours per day in front of the TV, mobile phone, computer or tablet screen. Researchers found even just limiting screen time or getting enough sleep had the strongest links to better cognition.