News

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

Published

3 years 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

News

Russia strengthens ties with China following Trump-Xi meeting

Russia strengthens ties with China following Trump’s positive meeting with Xi Jinping, aiming for deeper cooperation across various sectors

Published

20 hours ago

November 4, 2025

Ahron Young

Russia strengthens ties with China following Trump’s positive meeting with Xi Jinping, aiming for deeper cooperation across various sectors

In Short:
– Russian officials emphasise their alliance with China after Trump’s meeting with Xi Jinping.
– Prime Minister Mishustin’s visit to China aims to strengthen trade and cooperation between the two nations.

Russian officials reaffirmed their alliance with China following U.S. President Donald Trump’s meeting with Chinese President Xi Jinping.Prime Minister Mikhail Mishustin arrived in Hangzhou for two days of negotiations, signing various agreements to enhance cooperation in trade, investment, energy, transport, agriculture, and space, according to Russian state media.

Mishustin described his Chinese counterpart as a “dear friend,” stating that Russian-Chinese relations are at their peak despite Western sanctions. Li Qiang reciprocated by expressing Beijing’s readiness to strengthen ties, noting mutual support amid external risks and challenges.

Strategic Partnership

China remains Russia’s most important ally, having not condemned the 2022 invasion of Ukraine, and echoes Russia’s language, referring to the situation as a “crisis.”

Ahead of this visit, the Kremlin highlighted the significance of the talks, sending a robust delegation, including top officials from finance, agriculture, space, and nuclear energy.

Mishustin’s visit coincides with Trump’s recent discussions with Xi, where agreements were reportedly reached on several issues in a gesture seen as a trade truce amidst rising tariffs.

Trump’s engagement with China contrasts with his lack of progress in talks with Russia, which he attributed to frustrations over the Ukraine conflict. This context may indicate Russia’s unease regarding China’s positive interactions with the U.S.

News

Sign of the times? Hyundai and Mazda turn to China for EVs

Hyundai and Mazda tap China for new EVs, highlighting the country’s rising role in global electric vehicle production.

Published

2 days ago

November 3, 2025

ticker NEWS

Hyundai and Mazda tap China for new EVs, highlighting the country’s rising role in global electric vehicle production.

Hyundai and Mazda are now sourcing new EVs from China, their first models built for and by the Chinese market. It’s a move that underscores China’s growing dominance in global electric vehicle manufacturing.

#EVs #ChinaAuto #Hyundai #Mazda #ElectricVehicles #CarNews #AutoTrends #MadeInChina

News

Terror on Cambridge train as nine injured in knife attack

Nine injured in Cambridge train stabbing; two arrests made as authorities investigate possible terror motives.

Published

2 days ago

November 3, 2025

Ahron Young

Nine injured in Cambridge train stabbing; two arrests made as authorities investigate possible terror motives.

Nine people have been seriously injured after a violent stabbing spree on a train near Cambridge. Witnesses described scenes of panic as passengers scrambled for safety during the shocking incident.

Two men have been arrested, as British Transport Police—assisted by counterterrorism units—investigate the motives behind the attack. Armed officers reportedly tackled one suspect armed with a large knife as emergency services flooded the scene.

The attack has left the community shaken and authorities on high alert, with questions swirling about whether this was an act of terror or a random rampage.

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#CambridgeAttack #UKNews #BreakingNews #TrainStabbing #CounterTerrorism #PoliceResponse #CrimeAlert #TickerNews