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...Another heavily-traded company that until recently was a penny stock is Mullen Automotive....
...Inchcape warned last month that demand in its South Americas market this year was likely to be towards historic lows, as inflation and interest rates have continued to drag on household finances....
Shares of start-up slide after reporting a $5.4bn annual loss and 10% cut to salaried payroll
Tesla wants to relocate its corporate domicile but institutional investors like Delaware’s sophistication and predictability
Tesla boss shows Argentine president Texas factory where they talked about lithium, Brazil and a disdain for bureaucracy
But the boost to liquidity can prove shortlived
...“There was a huge outflow from ESGU and into QUAL as a result of BlackRock changing their weighting,” said Bryan Armour, director of passive strategies research for North America at Morningstar....
Delaware court previously voided chief executive’s $56bn remuneration
And more on bad buybacks
...“In 2019, Tesla created a frenzy at the Cybertruck reveal by claiming the electric pickup’s starting price would come in below $40K,” said Jessica Caldwell, an analyst at automotive industry insights platform...
...According to Mastercard SpendingPulse, which measures activity in stores and online across all forms of payment, US retail sales on Friday excluding automotive categories were up 2.5 per cent year on year...
Americans account for 14% of users but their revenue contribution will be higher
...Max launched in the US in May 2023 in an attempt to challenge Netflix, Disney and Amazon in the streaming market, and in Latin America and the Caribbean earlier this year....
Legal battle between talent agency and Michael Kassan centres on jet flights and other spending
...“The main issue with rerouting to alternative ports is the lack of skilled labour and specialist equipment in handling the cars,” said Dominic Tribe, an automotive analyst at Vendigital....
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
TikTok’s Chinese owner offers nearly $171 a share as US employees grow concerned about tax bill on unsold stock
...Another factor driving the growth of ETFs is the active ETF boom, said Bryan Armour, director of passive strategies research for North America at Morningstar Research Services....
Also in this week’s newsletter, the Detroit Lions roar back and Real Madrid top football rich list
And yet, we’re struggling to care
US state’s chancery court plays a key role in balancing interests of boards and investors
...Mike Hawes, boss of the Society of Motor Manufacturers and Traders, said the decision was “especially disappointing and sends a signal that the UK’s world-class automotive products are not welcome in Canada...
AI could be a game-changer for many of the tech giants
...The pair will then set up a joint venture in the US, 51 per cent owned by Lithia, to sell Pinewood’s dealership technology across North America, a market the pair said was worth £2.6bn....
...But Bryan Armour, director of passive strategies research for North America at Morningstar, said that on closer inspection a slightly different picture emerged....
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