Economy

Tesla shares soar after Musk gets ousted as chairman

Tesla shares soar after Musk gets ousted as chairman

However, according to the latest reports, the CEO of Tesla, the well-known vehicle manufacturing company, of course, Elon Musk resigns as chairman of Telsa.

In a shock announcement in August, Tesla CEO Elon Musk announced that he has weighed taking the electric vehicle company private at $420 a share.

As a quick reminder of what started all this, it was Elon's tweet in August saying he was looking at taking Tesla private and had "funding secured".

In order to avoid similar inconvenience in the future, the company will also hire a lawyer that will not only monitor the communication of Musk but also oversee his tweets.

In a sign of the manufacturing process improving, Musk in an email to employees on Saturday said the company was "very close to achieving profitability".

Four in 10 believe allegations against Kavanaugh, three in 10 do not
The committee has said the probe should be limited to "current credible allegations" against Kavanaugh and be finished by Friday. The one-week break will allow the FBI to investigate Kavanaugh's behavior as a teenager.

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".

Today's sharp upturn in Tesla's share price served as a signal from investors that the settlement didn't put too heavy of a burden on the company's operations. The brainchild of Tesla has a couple of times been associated with more than one actions that have landed him in trouble with his investors and even the media.

Tesla and Mr Musk will pay $20 million each to financial regulators.

As a result of these publications, Tesla shares rose 11% on the stock exchange, prompting the USA regulator to investigate the case.

On top of Musk stepping down as chairman, Tesla will appoint two more independent directors to its board.

Both iPhone XS and XS Max are facing serious problem with 'charging'
But when I got my giant slab of a phone, I realized that its phablet size carried one downside: opening Control Center. The Apple Watch Series 4 features the new heart rate monitor and health detection features as well as a SOS emergency.

Musk and Tesla will also have to pay a $20million fine, though he is allowed to continue as CEO.

Musk has gained legions of fans for his bold approach to business and technology, using his 23 million Twitter followers account to promote Tesla, his rocket company SpaceX, and tunnel venture, the Boring Co.

Although Musk, with the support of his company, claimed that he had done nothing wrong, the two have both stated that they will settle the allegations out of court without admitting or denying the allegations. While Musk does not wield majority voting power, much of Tesla's investor base is still largely captivated by him, often supporting him unquestionably.

A tweet can be worth a thousand words, or in Elon Musk's case, millions of dollars.

Earthquake and a tsunami strike Indonesia killing hundreds
Medical team members help patients outside a hospital after an natural disaster and a tsunami hit Palu, on Sulawesi island. Communications with the area are hard because power and telecommunications are cut, hampering search and rescue efforts.


  • Tsunami hits Indonesia's Palu after strong quake

    This summer, a series of powerful quakes hit Lombok, killing more than 550 people on the holiday island and neighbouring Sumbawa. A patient is evacuated from a hospital following a strong quake in Poso, central Sulawesi, Indonesia , Friday, Sept. 28, 2018.
    Google Pixel 3 XL leaked hands-on reveals new haptic system

    Google Pixel 3 XL leaked hands-on reveals new haptic system

    Soon after unveiling the Samsung Galaxy A9, the Korean electronics maker is set to debut a new mid-range smartphone next month. The accessory was shown featuring a cradle at the top that allows the forthcoming phone to stand upright and wirelessly charge.
    Gwyneth Paltrow to tie the knot this weekend

    Gwyneth Paltrow to tie the knot this weekend

    Sources have revealed to Page Six that the pair will say "I do" in front of an intimate group of their closest friends and family. Stars including Jennifer Aniston , Kate Hudson , Liv Tyler, Cameron Diaz and Benji Madden were among the guests invited.
  • Stock markets steady as focus turns to Fed rate decision

    Stock markets steady as focus turns to Fed rate decision

    The Fed seeks to slow the economy when it reaches full employment to prevent a tight job market from raising inflation too high. But the gains faded in the last 30 minutes of trading after Fed Chairman Jerome Powell finished speaking at a news conference.
    English Premier League Report: Chelsea v Liverpool 29 September 2018

    English Premier League Report: Chelsea v Liverpool 29 September 2018

    Moments later a quick Chelsea free-kick caught Liverpool napping and Alisson produced a brilliant block to deny Hazard his second. There are six or seven top teams, top in Europe, not only in England, so it's not easy to get into the Champions League.
    Another hairpin turn for Tesla as stock dives on SEC charge

    Another hairpin turn for Tesla as stock dives on SEC charge

    And some billionaires, especially ones who are named Elon Musk , maybe shouldn't be in charge of public companies. Share value in Tesla is down more than 11.6 percent on the day, trading at $271.75 as of this writing.
  • Rishi Kapoor's mother Krishna Raj Kapoor passes away

    Rishi Kapoor's mother Krishna Raj Kapoor passes away

    Krishna Raj Kapoor , wife of legendary actor-filmmaker Raj Kapoor passed away on Monday morning (1 October) at the age if 87. It was during the Christmas brunch when Krishna Raj Kapoor was featured with her family members for the last time.
    Lil Wayne says 'Tha Carter V' will be released on Friday

    Lil Wayne says 'Tha Carter V' will be released on Friday

    After years of vast anticipation, Lil Wayne's fifth studio album Tha Carter V is finally here. The Los Angeles Lakers star is already showing love for Lil Wayne's " Tha Carter V ".
    Ford on why she decided to take a polygraph test

    Ford on why she decided to take a polygraph test

    Asked about reports in which two other men have claimed they, not Kavanaugh, attacked Ford, Guerry said, "It's not possible". Swetnick, a resident of Washington , D.C., said she was a graduate of Gaithersburg High School in Maryland.
  • Bell on Thomas' injury: I'll be the 'bad guy'

    Bell on Thomas' injury: I'll be the 'bad guy'

    With Bell so far forfeiting $3.4 million of potential earnings this year and the Steelers skidding, the dispute has gotten ugly. In the coming weeks, they'll play the Atlanta Falcons, Cincinnati Bengals, Cleveland Browns , Ravens and Jacksonville Jaguars.
    US, Japan duo win Nobel Medicine Prize for cancer therapy

    US, Japan duo win Nobel Medicine Prize for cancer therapy

    Allison's interest in the immune system was deepened by an experiment he conducted on mice when he was a graduate student. For decades researchers had been trying to figure out effective ways to use the body's own immune system against cancer.
    Elon Musk to give up role of Tesla chairman

    Elon Musk to give up role of Tesla chairman

    As part of the deal, Musk and Tesla will also both pay $20 million, while the former will neither admit nor deny the allegations. The tweets had no basis in fact, and the ensuring market chaos hurt investors, the SEC said.