Electric vehicle company Tesla has made a major announcement that has seen its stock price dramatically increase
Elon Musk-owned EV company Tesla has added more than $100 billion dollars to its market value, following company’s announcement of a stock split.
Tesla’s dramatic value increase added just today has left investors impressed.
The company has added a value so big that today’s $100 billion bucks added equals the total worth of companies like Boeing and Goldman Sachs.
The car company made the announcement via Twitter a few hours before the markets opened in the United States.
“Tesla will ask shareholders to vote at this year’s annual meeting to authorise additional shares in order to enable a stock split,” the tweet read.
The company’s value is now worth nearly $1100 a share
It is believed a stock split will make Tesla more attractive to individual investors, further boosting its price.
For those of us smart enough to have invested in the company 12 years ago, has certainly returned a profit. A single share in Tesla purchased for $22 back in 2010 would now be worth a whopping $5000 today.
The surge in Tesla’s value will bolster the net worth of the companies largest shareholder and CEO, Elon Musk by about $17 billion dollars.
U.S. retailers limit emergency contraception purchases
Demand for morning after pills have led to retailers having to limit purchases
Amazon has limited sales of morning after pills as demand spikes following the U.S. Supreme Court ruling overturning Roe v. Wade.
There is now a limit of three Plan B units per week on emergency contraceptive pills sold through its website.
Other U.S. retailers are also capping purchases of emergency contraceptive pills like chain pharmacy, CVS and Walmart.
Plan B is an emergency contraceptive that can be taken within 72 hours after sex. It is a synthetic form of the hormone progestin which delays ovulation briefly and prevents pregnancy.
Demand has surged following last week’s U.S. Supreme Court ruling overturning Roe vs Wade, ending the constitutional right to have an abortion.
Since the reversal of Roe v Wade, women have tried to find ways to control their reproductive health, by stocking up on emergency contraception.
Social media is flooding with calls to stock up on Plan B in anticipation of possible restrictions on contraceptive pills.
Meanwhile, some US companies have committed to paying staff travel expenses for those wanting an abortion.
Katerina Kostakos contributed to this article.
Chinese investment in Australia drops
China’s investment in Australia has plunged to its lowest levels since 2007
A new report from KPMG and the University of Sydney shows Chinese companies invested U.S. $585 million in Australia last year, which is down from a peak of U.S $16.2 billion in 2008.
It comes as relations between the two nations remain sour. Australia has previously called for an independent review into the origins of Covid-19, and a ban on foreign interference.
But Chinese officials have responded with trade sanctions, which have affected Australian wine, seafood and coal exports.
Australia was once a large destination for Chinese investment. In fact, the two nations signed an historic Free Trade Agreement in 2015, with a key focus on economic growth and creating jobs.
Australia’s Prime Minister, Anthony Albanese says he will not make concessions to China. The newly-elected Albanese is in Europe for a series of talks with NATO leaders.
“The resistance of Ukraine has brought democratic nations closer together which have a shared commitment to rules-based, international order,” he says.
But Chinese officials believe it is irresponsible to place Ukraine and Taiwan in the same basket.
Chinese Foreign Ministry spokesman Zhao Lijian says “Taiwan is by no means Ukraine,” and labelled Albanese’s comments as “irresponsible”.
Target offers support to employees seeking abortions
Target will help its employees living in states where abortions are banned by funding their travel
The company sent a memo to employees via email with the new policy to be enacted in July.
Target’s Chief Human Resources Officer says “A few months ago, we started re-evaluating our benefits with the goal of understanding what it would look like if we broadened the travel reimbursement to any care that’s needed and covered – but not available in the team member’s community”.
She says “This effort became even more relevant as [Target] learned about the Supreme Court’s ruling on abortion, given that it would impact access to healthcare in some states”.
This all comes amid the reversal of Roe versus Wade removing abortion as a constitutional right within the U.S.
This has sparked a range of companies to provide similar benefits with Amazon also providing travel coverage for employees.
Amazon limits sale of morning-after pills following Roe v. Wade abortion decision
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