DIRS.INFO The most relevant business & tech news

☆ NBA roundup: Sixers down Pacers for first win
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +6 min

Joel Embiid added 26 points and three blocked shots and Tobias Harris scored 18 points for the Sixers, who had dropped their first three contests. Tyrese Haliburton led the Pacers with 19 points and 10 assists and Buddy Hield scored 18 points. Aaron Gordon scored 26 points on 12-of-16 shooting for the Nuggets, who have split their first four games. Porter paired 26 points with 10 rebounds, while Green added 25 points on 9-of-16 shooting. D'Angelo Russell added 25 points and seven assists, Jaylen Nowell scored 13 points and Rudy Gobert contributed 11 points and seven boards.

☆ NBA roundup: Luka Doncic leads Mavs in record-breaking rout
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +8 min

Jrue Holiday added 19 points and 10 assists for Milwaukee, which established control by darting to a 13-0 lead out of the gate. Tyrese Haliburton contributed 24 points, 10 assists and five steals, while Jalen Smith had 19 points and 15 rebounds for Indiana. Jaden Ivey had 17 points, 11 rebounds and five assists, Bojan Bogdanovic fired in 16 points and Isaiah Stewart added 11 points. Evan Mobley added 16 points and Kevin Love sank five 3-pointers as part of his 15-point, 12-rebound performance. Josh Giddey added 19 points and 12 rebounds, and Mike Muscala scored 18 off the bench for Oklahoma City.

☆ Golden State Warriors suffer first defeat of the season against Denver Nuggets
▼ + stars: | 2022-10-22 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —Despite Steph Curry scoring a game-high 34 points, the Golden State Warriors suffered their first loss of the season, to the Denver Nuggets on Friday, going down 125-123 to the team they eliminated from the first round of the Western Conference playoffs in April. Curry added five rebounds and four assists to his 34 points on 10-of-22 shooting but could not drag his team to victory in San Francisco. Noah Graham/NBAE/Getty ImagesThe Warriors fought back in the fourth and a Jordan Poole layup with 14.7 seconds remaining left Golden State just a point behind. Two free throws from Jokic with 6.6 seconds left took Denver’s lead beyond three points and sealed the victory. Logan Riely/NBAE/Getty ImagesElsewhere in the Western Conference, Ja Morant dazzled, scoring 49 points to carry the Memphis Grizzlies to a 129-122 win over the Houston Rockets.

☆ NBA roundup: Ja Morant guides Grizzlies over Rockets
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +7 min

Alperen Sengun produced a double-double of 23 points and 12 rebounds off the bench. Nuggets 128, Warriors 123Nikola Jokic scored 26 points as part of a triple-double and Denver held on for a win over Golden State in San Francisco. After Simons' basket, Ayton was fouled with 1.2 seconds left but missed the first free throw. Gordon Hayward posted 26 points and Terry Rozier poured in 23 points for the Hornets. Haliburton led the Pacers with 27 points and 12 assists, with Mathurin adding 26 points.

☆ Elon Musk says Tesla's value could soar to $4.4 trillion, Twitter might be worth $400 billion, and the Fed should cut rates. Here are his 10 best quotes from a Q3 earnings call.
▼ + stars: | 2022-10-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Elon Musk said Tesla's value could exceed $4.4 trillion, and Twitter could be worth $400 billion. The Tesla CEO said he's not an investor like Warren Buffett, and teased a $10 billion stock buyback. "I see a potential path for Tesla to be worth more than Apple and Saudi Aramco combined. I see a way for Tesla to be roughly twice the value of Saudi Aramco. Even if next year is a very difficult year, we still have the ability to do a $5 billion to $10 billion buyback."

☆ NBA roundup: Suns hit late shot to cap rally from 22-point hole
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +9 min

Lee hit a 10-foot fallaway jumper over Spencer Dinwiddie to cap an electric Phoenix comeback in the season opener for both teams. Cameron Johnson added 15 points, Mikal Bridges had 13 points and 11 rebounds and Lee scored 11 points off the bench. Christian Wood added 25 points and eight rebounds in his Dallas debut while Dinwiddie added 15 points. D'Angelo Russell added 20 points and Jaden McDaniels had 19 for Minnesota. Santi Aldama (18 points, 11 rebounds) and John Konchar (12 points, 11 rebounds) each posted double-doubles while Jones had 15 points off the bench.

☆ Elon Musk is a combination of Einstein, Tesla, and Rockefeller, says a former SpaceX exec – but even his mother admits no one wants to be him
▼ + stars: | 2022-10-16 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Elon Musk is smarter than Einstein, the former talent chief of SpaceX told a BBC documentary. Dolly Singh said Musk's legacy would be a combination of Einstein, Rockefeller and Tesla. In the second episode, Singh said she believed Musk was smarter than Einstein. Once Musk "has done building his legacy, it will be unquestionable that he is a combination of Einstein, Tesla, and Rockefeller," Singh added. The Elon Musk Show will not be broadcast outside the UK due to rights issues, the BBC said.

Companies Nikola Corp FollowNEW YORK, Oct 14 (Reuters) - Nikola Corp (NKLA.O) founder Trevor Milton on Friday was convicted by a U.S. jury of fraud over allegations he lied to investors about the electric vehicle company's technology. The jury found Milton guilty on one count of securities fraud and two counts of wire fraud after deliberating for around five hours. Milton was acquitted on an additional count of securities fraud. He left Nikola in September 2020 after a report by short seller Hindenburg Research called the company a "fraud." The defense said prosecutors had distorted Milton's statements about Nikola's plans to shake up the automotive industry.

☆ Nikola Founder Trevor Milton Convicted of Securities Fraud
▼ + stars: | 2022-10-14 | by ( Corinne Ramey | Ben Foldy | ) www.wsj.com time to read: 1 min

Nikola Corp. founder Trevor Milton, pictured outside a New York courthouse last month, resigned in 2020 after a short seller alleged he made misrepresentations about the company. A federal jury in New York convicted Nikola founder Trevor Milton of securities fraud for what prosecutors said were his repeated lies about the development of the company’s zero-emissions trucks and technology. Friday’s guilty verdict caps the downfall of Mr. Milton, who founded Nikola in his basement in 2015 and took it public in 2020 at a valuation of $3.3 billion, when the company hadn’t sold a single truck. The company’s market valuation briefly exceeded that of industry giants such as Ford Motor Co.

Washington, DC CNN —Nikola founder Trevor Milton was convicted Friday by a U.S. jury of fraud in a case alleging he lied to investors about the electric and hydrogen fuel cell company’s technology. The jury found Milton guilty on a count of securities fraud and two counts of wire fraud after deliberating for roughly five hours. Milton was acquitted on another count of securities fraud. He also was accused of defrauding the seller of a Utah ranch, who accepted Nikola stock options as part of the purchase price based on Milton’s claims about the company. Milton, who called the report criticizing Nikola a “hit job,” and “lies,” resigned from his position as Nikola chairman in Sept. 2020.

Milton, of Oakley, Utah, was indicted in July 2021 and faces two counts of securities fraud and two counts of wire fraud. Milton left Nikola in September 2020 after a report by short seller Hindenburg Research called the company a "fraud." Milton's statements about Nikola came as the company joined the mounting number of tech and EV companies going public through special purpose acquisition vehicles or SPACs. The defense and the prosecution delivered closing arguments to the jury on Thursday in a trial that began on Sept. 13. The defense said prosecutors had distorted Milton's statements about Nikola's plans to shake up the automotive industry.

☆ Nikola founder Trevor Milton found guilty of fraud over statements he made while CEO of the EV company
▼ + stars: | 2022-10-14 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

Milton was charged with two counts of securities fraud and two counts of wire fraud, all related to statements he made about Nikola's business while he was chairman and CEO of the company. Jurors found him guilty on one count of securities fraud and both of the wire fraud counts. "Trevor Milton lied to Nikola's investors — over and over and over again. For a short period, Nikola – a company with no revenue – was more valuable than century-old Ford Motor. Although Milton still owns Nikola stock, the company had otherwise cut ties with him.

Companies Nikola Corp FollowNEW YORK, Oct 13 (Reuters) - A prosecutor on Thursday urged jurors to convict Nikola Corp (NKLA.O) founder Trevor Milton of fraud, calling him a "con man" who lied about the low-emission vehicle company to defraud ordinary investors. Federal prosecutors during closing arguments in New York said Milton deceived investors about the electric- and hydrogen-powered truck maker's technology starting in November 2019. Milton left the company in September 2020 after a report by short seller Hindenburg Research called the company a "fraud." Register now for FREE unlimited access to Reuters.com Register"Trevor Milton is a con man," Estes told the jury. Milton's attorneys have said he believed in his vision for the company and that prosecutors distorted his statements about Nikola's plans to shake up the automotive industry.

☆ Fraud Trial of Nikola Founder Trevor Milton Wraps Up
▼ + stars: | 2022-10-13 | by ( Corinne Ramey | ) www.wsj.com time to read: 1 min

A jury is set to weigh whether to convict Nikola Corp. founder Trevor Milton of securities and wire charges. The trial of Nikola Corp. founder Trevor Milton concluded Thursday after closing arguments in which prosecutors called the former executive a con man and the entrepreneur’s lawyer said he didn’t intend to deceive anyone about the electric-truck company’s technology. The jury, which is expected to begin deliberations Friday after receiving legal instructions from the judge, is set to weigh whether to convict Mr. Milton of two securities-fraud charges and two wire-fraud charges. If convicted, Mr. Milton faces up to 25 years in prison on the top count.

☆ Fraud Trial of Nikola Founder Trevor Milton Hears Closing Arguments
▼ + stars: | 2022-10-13 | by ( Corinne Ramey | ) www.wsj.com time to read: 1 min

☆ Nikola can complete its deal to acquire Romeo Power after clearing key hurdle
▼ + stars: | 2022-10-13 | by ( John Rosevear | ) www.cnbc.com time to read: +1 min

Electric heavy truck maker Nikola said Thursday that its planned acquisition of battery-pack maker Romeo Power will now proceed, after Romeo Power shareholders agreed to tender just over half of the company's outstanding shares. In August, Nikola said it had agreed to acquire Romeo Power, a California-based maker of battery modules that has been struggling financially, for $144 million in stock. Nikola said that 93.16 million Romeo shares, representing about 50.1% of the company's total shares outstanding, had been tendered by the deadline – just enough to complete the deal. The remaining shares of Romeo Power will now be "canceled and converted" to shares of Nikola, with Romeo shareholders receiving 0.1186 of a Nikola share for each share of Romeo they hold, Nikola said. Romeo Power specializes in building battery modules and packs for large electric commercial vehicles, using lithium-ion battery cells made by other companies.

☆ I binge-listened to tech podcasts for a week, and what I learned about Silicon Valley is kind of scary
▼ + stars: | 2022-10-04 | by ( Adam Rogers | ) www.businessinsider.com time to read: +19 min

2: The hosts don't know what they don't knowThe problem is, VC podcasts don't stick to the core issues of venture capital. 3: The hosts want us to believe what they don't knowThere's a shocking amount of this kind of drivel on the tech podcasts. This is what a good tech podcast should do: Use access to the best and most successful investors and innovators to illuminate the way Silicon Valley works. But that's not what matters in the world of tech podcasts. But after 40 hours of listening to tech podcasts, I feel kind of bad about it.

☆ New: Trevor Milton Doesn't Want to Be Left Behind
▼ + stars: | 2022-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew: Trevor Milton Doesn't Want to Be Left BehindTrevor Milton pays for a large group to go to Hawaii, but friend Jimmy Rex accidentally leaves him behind. The group sees a different side to the Nikola founder.

☆ New: Tesla Fraudster Fakes with Film Crew
▼ + stars: | 2022-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew: Tesla Fraudster Fakes with Film CrewTrevor Milton starts up "Nikola," and makes promises of an all-electric truck and capitalizes on investments at the height of the COVID pandemic in 2020. Milton attempts to put diesel out of business, but how he shoots commercials is a bit misleading...

☆ New: Tesla Fraudster Fakes with a Film Crew
▼ + stars: | 2022-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew: Tesla Fraudster Fakes with a Film CrewTrevor Milton starts up "Nikola," and makes promises of an all-electric truck and capitalizes on investments at the height of the COVID pandemic in 2020. Milton attempts to put diesel out of business, but how he shoots commercials is a bit misleading...

☆ EU has 'serious questions' as Serbia enters regular consultations with Russia
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +3 min

Russian Foreign Minister Sergei Lavrov shakes hands with Serbian Foreign Minister Nikola Selakovic during a news conference following their meeting in Moscow, Russia April 16, 2021. Russia's Foreign Minister Sergei Lavrov and his Serbian counterpart Nikola Selakovic signed a document on Friday dubbed a "plan on consultations". Serbia had declared EU accession a strategic priority, which implied "alignment with European policies, including on foreign policy issues," he added. Although Serbia has condemned Russia's invasion of Ukraine at the United Nations, it has refused to join sanctions against Moscow. On Sunday, Selakovic said Serbia would not recognise results of the referendums in parts of eastern Ukraine controlled by Moscow.

☆ Nikola CEO Tells Jurors He Worried About Exaggerations by Company Founder Trevor Milton
▼ + stars: | 2022-09-20 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com time to read: 1 min

Trevor Milton, founder of Nikola, center, leaving court in New York last week. He is charged with securities fraud and wire fraud. Nikola CEO Mark Russell told a New York federal jury Monday that he had concerns about joining the electric-truck company because he believed its founder, Trevor Milton , “was prone to exaggeration in public statements.”Testifying in Mr. Milton’s securities-fraud trial, Mr. Russell said that before coming on board in 2019 as president of Nikola, he and Mr. Milton reached an agreement that Mr. Russell would become the chief executive officer if Nikola became a publicly traded company. Mr. Russell said he sought the arrangement because as head of a public company, statements from the CEO needed to be accurate.

☆ 7 companies poised to cash in on the $30 billion hydrogen commercial-vehicle market by winning over giants like Amazon
▼ + stars: | 2022-09-20 | by ( Andrew Moseman | ) www.businessinsider.com time to read: +7 min

Rising fuel costs, the possibility of stricter emissions regulations to come, and questions about battery supplies, have all increased the appeal of zero-emission fuel cells. Volvo TrucksVolvo GroupCEO: Martin LundstedtMarket Cap: $32.97 billionHQ: Gothenburg, SwedenVolvo Trucks said in June 2022 it had begun testing hydrogen fuel-cell trucks. In the latter case, Plug Power has provided Amazon with more than 15,000 fuel cells to replace the batteries in its warehouse forklifts since 2016. Plug just signed a new deal to provide the behemoth with the liquid hydrogen necessary to run its fuel-cell vehicles starting in 2025. As part of a deal with Weichai group, Ballard is building fuel cells in China to power fuel-cell vehicles in that market.

☆ When Electric Vehicles Sound Too Good to Be True
▼ + stars: | 2022-09-19 | by ( Allysia Finley | ) www.wsj.com time to read: 1 min

Last week kicked off the fraud trial of Trevor Milton , founder and former CEO of electric-vehicle startup Nikola . The government alleges that he deceived retail investors about Nikola’s technology. He has pleaded not guilty, but the evidence from the government’s 49-page indictment will be hard to refute. The brakes were then released, and the truck rolled down the hill. The truck’s door was taped during the shoot to keep it from falling off, and the batteries were removed to prevent it from catching fire.

☆ Iveco showcases prototype of large hydrogen van developed with Hyundai
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

The logo of Italian truck maker Iveco is pictured at the IAA truck show in Hanover, September 26, 2014. REUTERS/Fabian BimmerMILAN, Sept 19 (Reuters) - Italy's Iveco (IVG.MI) showcased on Monday a prototype of the hydrogen powered eDaily large van it has developed with Hyundai Motor (005380.KS), the first tangible outcome of a wider partnership between the two manufacturers. Iveco and South Korea's Hyundai Motor in March signed a preliminary deal to explore cooperating on shared vehicle technology, joint sourcing and mutual supply. read moreIn July, they said Iveco would equip its future hydrogen-powered buses in Europe with fuel-cell systems designed by Hyundai's hydrogen mobility brand HTWO. Iveco added that Hyundai was also considering sourcing opportunities from FPT Industrial in the area of next generation conventional powertrains for commercial vehicles.

Search resuls for: "nikola"

25 mentions found