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Musk takes to the stand for day two of the Tesla trial

Published

1 year ago

January 24, 2023

ticker NEWS

Tesla CEO says he believed he had secured funding to take the company private

Tesla CEO Elon Musk took the stand for a second day on Monday in the trial over allegations he misled investors when the billionaire tweeted in 2018 that he had “funding secured” to take the electric car company private.

Musk testified that he was sure he had backing from Saudi financiers at the time but said the fund later backpedaled on its commitment.

Musk acknowledged he did not discuss a takeover price with representatives of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, but said they made clear they would do what it took to make a buyout happen. And he said he was “upset” when they later “appeared to be backpedaling.”

The lawyer for the investors told the court that written evidence does not support Musk’s claim that the Saudi fund made a commitment to him, adding that minutes of a meeting between Musk and the Saudis showed they wanted to learn more about Musk’s plan.

Investors say they lost millions as a result of Musk’s Aug. 7, 2018 tweet saying that he had “funding secured” to take Tesla private at $420 per share.

Tesla’s stock price surged after Musk’s tweets, and later fell as it became clear the buyout would not materialise.

Musk testified that when he sent the tweet, he was saying “not that it will happen, but that I am thinking about it” and that funding was secured, in his “opinion.” #trending #featured

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Why Australia is becoming the new home of the Hollywood blockbuster

Published

2 days ago

May 17, 2024

Nathan Langridge

Australia’s multimillion-dollar campaign to attract Hollywood productions to its shores appears to be paying off.

The allure of Australia lies not only in its picturesque locations but also in its competitive financial incentives.

The government offers generous rebates and tax breaks to international productions, making it an attractive proposition for filmmakers looking to maximise their budgets.

Despite the recent intake of Hollywood productions down under such as ‘The Fall Guy’ and ‘Furiosa: A Mad Max Saga’, Aussie independents are still finding the space to carve their own creative path.

Rob Fantozzi joined the program to discuss the latest in Hollywood, and showcased his own upcoming project – ‘Omerta‘. #featured

News

Portal between countries shut down after international flashing

Published

2 days ago

May 17, 2024

Nathan Langridge

An international video portal has been forced to shut down after an OnlyFans model reportedly flashed passersby from across the globe.

On this episode of Ahron and Mike Live – Which would you prefer; pay rise or work perks, an international portal closes, the military reveal a submarine stingray and are you on a top or bottom burger bun?

Ticker’s Ahron Young & Mike Loder discuss. #featured #trending

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U.S. home prices surge 47%

Published

2 days ago

May 17, 2024

ticker NEWS

American home prices are rising at faster pace now than in the last 20-years.

A recent analysis reveals a jaw dropping surge in the cost of American homes.

Since the start of 2020, U.S. home prices have surged 47% easily outstripping the gains seen in recent decades.

On top of that, home price growth so far this decade is on the verge of surpassing all the growth seen in the 2000s.

Many experts believe this decade’s housing market frenzy was ignited by a perfect storm — the onset of the COVID-19 pandemic triggering an unprecedented rush among buyers.

Tom Hutchens, the Executive Vice President of Production at Angel Oak Mortgage Solutions joins Veronica Dudo to discuss.

#IN AMERICA TODAY #economy #housing #housingmarket #homeprices #homesales #inflation #trending