DIRS.INFO The most relevant business & tech news

Opening arguments kick off Wednesday in a trial that will see Tesla face off against shareholders who are accusing the company of misleading them over a tweet by Elon Musk that stated funding had been "secured" to take the electric car company private. Lead shareholder plaintiff Glen Littleton is seeking billions of dollars in damages over the August 2018 tweet, which prompted a brief rise in Tesla's stock price. Shares of company stock began a steady decline that continued into the following year. Musk and Tesla were separately fined $20 million and Musk was forced to step down as Tesla's chairman. He also agreed to a requirement to have lawyers review his statements about Tesla before publishing them on social media.

SAN FRANCISCO, Jan 18 (Reuters) - Attorneys for Tesla Inc (TSLA.O) and for investors will make opening arguments in a San Francisco court on Wednesday in a case to decide whether CEO Elon Musk's 2018 tweet that funding was "secured" to take the company private damaged shareholders. The case is a rare securities class action trial, and Musk and his company are bucking the norm of settling claims that clear high legal hurdles, making for a potentially dramatic trial at which Musk himself may testify. Tesla investor Glen Littleton is seeking "billions" in damages on behalf of shareholders who traded the company's stock in the days after Musk posted his plan to take the company private on Twitter in August 2018. While shareholders sue hundreds of companies and their executives for alleged securities fraud every year, very few of those cases make it to trial. Reporting by Jody Godoy in San Francisco Editing by Peter Henderson and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

The lawsuit seeks damages for shareholders who bought or sold Tesla stock in the days after Musk's tweets on Aug. 7, 2018. The shareholders have not specified the damages, but said Musk's tweets cost investors "billions." Potential panelists were asked ahead of time about their opinions of Musk and whether they own a Tesla vehicle. Investors sued in August 2018, shortly after Musk posted on Twitter that he was considering taking Tesla private at $420 per share. The defendants have said in court papers that they will argue that Musk had good reason to believe funding for the deal was secured.

☆ Tesla investors argue Musk can receive fair 'funding secured' trial in San Francisco
▼ + stars: | 2023-01-11 | by ( Tom Hals | Thomson Reuters | Award-Winning Reporter With More Than Two Decades Of Experience In International News | ) www.reuters.com time to read: +3 min

Videos of an audience booing Musk during a surprise appearance at a Dave Chappelle show in San Francisco in December were circulated online. Tesla moved its headquarters from the San Francisco area to Texas in 2021. Musk tweeted in August 2018 that he had "funding secured" to take Tesla private, sparking 10 days of volatile trading in its stock shares, bonds and options. Defendants, which also include Tesla and its board at the time, will make their case that Musk was not misleading investors in a material way. Additional reporting by Hyunjoo Jin in San Francisco Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Tom Zhu: China boss is now highest-profile Tesla executive after Elon Musk
▼ + stars: | 2023-01-03 | by ( ) edition.cnn.com time to read: +4 min

The move makes Zhu the highest-profile executive at Tesla after Elon Musk, with oversight for deliveries in all of its major markets and all of its production outside the still-ramping Tesla plant in Germany. Under Zhu, Tesla’s Shanghai plant rebounded strongly from Covid lockdowns in China. Tesla country managers in China, Japan, Australia and New Zealand continued to report to Zhu, the notice showed. Sleeping roughZhu, who was born in China but now holds a New Zealand passport, joined Tesla in 2014. Tesla board member James Murdoch said in November the company had recently identified a potential successor to Musk without naming the person.

☆ Exclusive: Tesla makes China boss highest-profile executive after Musk
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +5 min

[1/2] Tesla's China chief Tom Zhu speaks at a delivery ceremony for China-made Tesla Model 3 vehicles in the Shanghai Gigafactory of the U.S. electric car maker in Shanghai, China December 30, 2019. The move makes Zhu the highest-profile executive at Tesla after Chief Executive Elon Musk, with direct oversight for deliveries in all of its major markets and operations of its key production hubs. Under Zhu, Tesla's Shanghai plant rebounded strongly from COVID lockdowns in China. Tesla country managers in China, Japan, Australia and New Zealand continued to report to Zhu, the notice showed. Zhu, who was born in China but now holds a New Zealand passport, joined Tesla in 2014.

Tesla did not respond to written requests for comment from Reuters sent to its Shanghai and global media relations accounts. Under Zhu, Tesla Shanghai rebounded strongly from lockdowns this year to bring Tesla close to its growth target for 2022 of 50% production growth. Among the projects the Shanghai team have worked on is Tesla's long-delayed Cybertruck, its next new model, a third person said. However, Zhu's colleagues in Shanghai believe he is in line for a more senior and wider-ranging role at Tesla, the two people said. The plant has excelled in applying cost-saving, factory-floor innovations for Tesla, including the use of massive casting machines to simplify production.

Investors have urged Musk to step down as Twitter CEO and punished Tesla stock, which is down nearly 60% this year and hit a fresh two-year low on Monday. On a Twitter poll from Musk on Sunday asking whether he should step down as Twitter CEO, 57.5% of 17.5 million people voted "yes." Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management and a big Tesla bull, said last week that he would run for Tesla board and had notified Tesla. Leo KoGuan, a major individual Tesla shareholder, wrote on Twitter earlier that Musk had "abandoned Tesla and Tesla has no working CEO." "The whole situation is just weird, and weird is being kind," said Matthew Tuttle, CEO of Tuttle Capital Management.

REUTERS/Mike BlakeDec 13 (Reuters) - Fox Corp (FOXA.O) Chairman Rupert Murdoch is set to be questioned under oath on Tuesday in a defamation lawsuit over his network’s coverage of unfounded vote-rigging claims during the 2020 U.S. presidential election. The deposition comes as special committees of the boards of directors for News Corp (NWSA.O) and Murdoch-controlled Fox Corp consider a proposal from Murdoch to re-combine, nearly a decade after the companies split. Murdoch will be questioned via videoconference on Tuesday and Wednesday by lawyers for Dominion, according to a filing in Delaware Superior Court. On Dec. 5, Murdoch’s eldest son and executive chair and CEO of Fox Corp (FOXA.O), Lachlan, sat for a deposition in Los Angeles. Murdoch’s other son, James Murdoch, was questioned in October.

☆ Lachlan Murdoch biographer breaks down his relationship with father Rupert Murdoch and why a merger of Fox and News Corp is about 'entrenching Lachlan's control'
▼ + stars: | 2022-11-30 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +10 min

A new unauthorized biography of Lachlan Murdoch explores his business profile and family relationships. Its author, Paddy Manning, speculates about who might exit if Rupert Murdoch's Fox Corp and News Corp recombine. Rupert Murdoch remains executive chairman of News Corp and chairman of Fox. Lachlan Murdoch was named Fox's CEO, and James Murdoch, after four years as CEO of 21st Century Fox, was left to carve his own path. If you're looking longer-term about who's going to run the company beyond the merger, if it happens, [News Corp CEO] Robert Thomson is probably retiring.

☆ Elon Musk’s $50 billion trial comes to an end today
▼ + stars: | 2022-11-18 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —The trial for the Tesla shareholder lawsuit examining CEO Elon Musk’s unprecedented compensation package will wrap up this afternoon. The net value of the compensation package is $50.9 billion today, after Tesla’s valuation soared more than 1,000% at its peak since shareholders approved the package. Several corporate governance experts told CNN Business that it’s clear Tesla’s board of directors lacks independence from Musk. At the time of the 2018 compensation package, Kimbal said it was “very unlikely” that Elon would walk away from his role of CEO at Tesla. That’s just not how Elon operates,” Kimbal Musk said.

☆ Tesla’s close-knit leadership team goes under the spotlight in court
▼ + stars: | 2022-11-17 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +6 min

Tornetta accuses Tesla’s board of breaching its duties to shareholders. The pay package from Tesla’s board granted Musk large sums of shares every time Tesla hit certain milestones, including earnings and share price targets. In this sketch, former Tesla board member Antonio Gracias testifies in court. Ehrenpreis also had the rights to the first Model 3, Tesla’s breakout product, but gave it to Elon Musk as a birthday gift. Ehrenpreis is also the Tesla board member who asked consultants if hypothetically Tesla could lower the disclosed costs of Musk’s compensation plan.

☆ Elon Musk says his vacations are like 'email with a view'
▼ + stars: | 2022-11-17 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Elon Musk has described his vacations as "email with a view." Musk is known for his hardcore work ethic and often sleeps where he works. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyTesla CEO Elon Musk, famed for his hardcore work ethic, has described his vacations as "email with a view." According to Bloomberg, Musk was questioned by the plaintiff's lawyer about vacations he and James Murdoch, a Tesla director, had reportedly taken together. Earlier this week, Musk told Twitter workers in a late-night email that they had to commit to his "extremely hardcore" vision for the social-media company or be laid off.

☆ Elon Musk says 50 Tesla software engineers brought in to review Twitter's code had volunteered for the job
▼ + stars: | 2022-11-17 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Elon Musk told a court that 50 Tesla engineers working at Twitter weren't "Tesla assets." He said that's because the Tesla staff had volunteered to work at the company after-hours. Musk was testifying over a shareholder lawsuit which says his $55 billion pay package was excessive. When questioned if it was a good idea to use Tesla resources at Twitter, Musk said he "didn't think of this as using Tesla assets." Musk — who is the CEO of both Tesla and SpaceX, and is acting as CEO at Twitter — was in court over a Tesla shareholder lawsuit.

☆ Elon Musk runs 3 companies — and his executive juggling act is the perfect example of how the modern CEO job is broken
▼ + stars: | 2022-11-17 | by ( Ed Zitron | ) www.businessinsider.com time to read: +15 min

Musk is currently the CEO of three different companies: SpaceX, Tesla, and, of course, Twitter. But like many CEOs, he's accumulated a huge fortune by juggling several companies and directorships at once. While Musk may be an extreme case, he's also the perfect example of the modern CEO: a chaotic blend of unproductive micromanagement and highly-paid absenteeism. In the extreme, some CEOs like Musk have taken on the management of multiple large companies. And Musk isn't the only executive who would be better served focusing on one task.

SAN FRANCISCO, Nov 16 (Reuters) - James Murdoch, a Tesla director, said on Wednesday CEO Elon Musk has in the last few months identified someone as a potential successor to head the electric carmaker. Murdoch, who did not name the potential successor, was testifying in a trial over Musk's 2018 Tesla pay package. When a plaintiff's lawyer asked him to confirm that Musk has never identified someone as a potential successor CEO, Murdoch said, "He actually has," adding that happened in the "last few months." MONITORING TESLA SITUATIONMurdoch also said Tesla's audit committee is monitoring the Twitter situation, saying that the committee had discussions about having some Tesla engineers do work at Twitter. He also said Musk asked a few team heads to see if they were people interested in helping Twitter.

☆ Elon Musk suggested a potential successor for Tesla CEO in recent months, board director says
▼ + stars: | 2022-11-16 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

James Murdoch testified that Elon Musk identified a potential successor for the role of Tesla CEO. Murdoch, a Tesla board director, made the comment during a trial over Tesla's pay package for Musk. He did not specify who Musk had suggested, but said Musk had identified them in the last few months. Murdoch did not give any indication as to who the successor Musk had suggested might have been. Musk is facing a lawsuit from Tesla shareholder Richard Tornetta over his $50 billion Tesla compensation package.

☆ Lachlan Murdoch biographer breaks down his relationship with dad Rupert and why his siblings want to change 'destructive' Fox News
▼ + stars: | 2022-11-10 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +9 min

A new unauthorized biography of Lachlan Murdoch explores his business profile and family relationships. Its author, Paddy Manning, speculates about who might exit if Rupert Murdoch's Fox Corp and News Corp recombine. Lachlan Murdoch was named Fox's CEO, and James Murdoch, after four years as CEO of 21st Century Fox, was left to carve his own path. Why did you want to write a book about Lachlan Murdoch? Did you talk to Lachlan Murdoch?

☆ Rupert Murdoch’s odd reunion simplifies succession
▼ + stars: | 2022-10-17 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, Oct 17 (Reuters Breakingviews) - Rupert Murdoch is seeking to stitch his empire back together again. The media mogul’s family trust wants to reunite News Corp (NWSA.O) and Fox (FOXA.O) almost a decade after they split. The boards of News Corp and Fox said Friday they had formed special independent committees to explore a potential merger. Rupert Murdoch and his family trust control approximately 42% of voting shares in Fox and 39% of voting shares in News Corp. The companies split in 2013.

☆ Fox News owner Rupert Murdoch shared his succession plans for his media empire with Donald Trump, book says
▼ + stars: | 2022-09-29 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Fox News owner Rupert Murdoch attended a 2017 meeting with Donald Trump, a new book says. At the meeting, Murdoch shared his succession plans, says the book by Maggie Haberman. CNN's "Reliable Sources" newsletter on Wednesday published extracts from "Confidence Man," New York Times reporter Maggie Haberman's new book about Donald Trump. "'It's going to become too liberal when James [Murdoch] takes over,'" Trump reportedly told Murdoch, referring to the media magnate's son, who was widely expected to take over from his father. Donald Trump with Rupert Murdoch at one of his golf courses near Aberdeen, Scotland in 2016.

☆ Tesla adds Airbnb co-founder Joe Gebbia to board
▼ + stars: | 2022-09-28 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

Joe Gebbia, co-founder of Airbnb and chairman of Airbnb.org, during South By Southwest (SXSW) festival in Austin, Texas, U.S., on Sunday, March 13, 2022. Tesla has added Airbnb co-founder, designer, and billionaire Joe Gebbia as an independent member to its board of directors according to a regulatory filing out Wednesday. Adding Gebbia to the Tesla board may help Tesla avoid further conflict with the SEC, which has initiated multiple probes to determine that Musk and Tesla remain in compliance with their agreement. However, Gebbia remains on the Airbnb board and serves as chairman of Airbnb.org, the company's affiliated nonprofit that provides housing to people displaced in times of crisis, including those impacted by natural disasters and global conflicts. Gebbia has not been assigned to any Tesla board committees yet.

☆ Gloves come off in India’s digital content wars
▼ + stars: | 2022-09-05 | by ( Una Galani | ) www.reuters.com time to read: +4 min

MUMBAI, Sept 5 (Reuters Breakingviews) - The gloves are coming off in India’s content wars, and the traditionally cautious Disney (DIS.N) is proving a more ruthless fighter than many had expected. It also will hold digital rights to the ICC games throughout the rest of the year. By selling off some of the rights, Disney might reduce its spend on the ICC by a third or more. The American-owned company will hold onto the streaming rights for its digital platform, Disney+ Hotstar. The ICC said on Aug. 27 that Disney had won the TV and digital rights to events through the end of 2027.

☆ How Rupert Murdoch’s Empire of Influence Remade the World
▼ + stars: | 2019-04-03 | by ( Jonathan Mahler | Jim Rutenberg | ) www.nytimes.com time to read: +61 min

Murdoch family, 1987: Lachlan, James, Anna and Rupert. The second season of HBO’s “Succession,” whose fictional media family, the Roys, bears a striking resemblance to the Murdochs, airs this summer. ‘A press dictatorship’To understand how the Murdoch empire works, it is essential to return to its origins. The bigger Murdoch’s empire became, the more power he had to clear away obstacles to further its expansion. Like his father, Lachlan considered the idea of meddling with such an important profit driver a form of madness.

Persons: ‘, Rupert Murdoch, Murdoch, Jerry Hall, Lachlan’s, Lachlan, —, Hall, President Trump, Theresa May, Robert A, consummating, Rupert, Elisabeth, Anna, James, David Graves, Rex, Prudence, Murdoch’s, Patricia Booker, Anna Mann, jockeying, Murdoch didn’t, ” Murdoch, Ron Galella, ‘ I’ve, Graham, Jeff Bezos, William R, Hearst, George Hearst, Ochs, Sulzberger, Arnold Newman, HBO’s, Australia —, “, don’t, Trump, Rutger Bregman, Tucker Carlson, Carlson, — Murdoch, Dow Jones, Bancroft, ’, Keith Murdoch, Keith, Joseph Lyons, Tom Roberts’s, ” Lyons, ”, I’ll, ” Rupert Murdoch, Aubrey Hart, Roberts, ” Keith, Margaret Thatcher’s, Thatcher, revel, John Major, Neil Kinnock, Joseph Stalin, Britain’s, Roy Cohn —, Joseph McCarthy, Ronald Reagan’s, Roger Stone Jr, Murdoch weaponize, Reagan’s, Stone, Reagan, George H.W, Bush, L.A, Ted Turner, Roger Ailes, Nixon, George H.W . Bush, Time Warner, Rudolph W, Giuliani, Post —, Fox, Monica Lewinsky, ” David Frum, George W, Sumner, Peter Mathew, Fairfax, Chase Carey, Talib Kweli, Rawkus, Kathryn Hufschmid, Kathryn, ” Lachlan, Sarah O’Hare, Lachlan doesn’t, Chris Mitchell, — he’d, Wendi Murdoch, Wendi, Jules Stein, Leonardo DiCaprio, James warily, Ivanka Trump, Ivanka’s, Jared Kushner, Kushner, Ivanka, Wendi’s, Donald Trump, Ailes, Rudolph Giuliani’s, Corey Lewandowski, Ted Cruz, Marco Rubio, Bret Baier’s, Baier, Stephen F, Hayes, ” Trump, Tell Hayes, Sean Hannity, Sinclair —, Doug Mills, Megyn Kelly, — “ You’ve, — Trump, Kelly, Charles Krauthammer, John Kasich, James’s, Hillary Clinton, Tony Blair, Hillary, Clinton, United States —, Paul Gigot, Obama, Al Drago, Anthony Hilton, Hilton, Rodrigo Duterte, Viktor Orban, europhiles, Rebekah Brooks, Andy Coulson, David Cameron, feckless, Leveson, Robinson, Mick Jagger, Margaret Thatcher, Nigel Farage, Evgeny Lebedev, Carlo Allegri, Murdoch lounging, What’s, lodestar, David Rhodes, Rhodes, Ben Rhodes, Kevin Hagen, he’d, Trump’s, Jeff Rovin, Satan, James Murdoch, Clint Spaulding, Patrick McMullan, James Stavridis Organizations: Northern, Fox News Channel, Sun, European Union —, Downing, Walt Disney Company, Century Fox, Disney, Getty, News Corp, Trust, Washington Post, Hearst Corporation, United, The New York Times, Arnold Newman Properties, Fox, White, Broadway, Fox News, Trump White, Street, Melbourne Herald, Weekly Times, ”, Eugenics Society of Victoria, Oxford, Murdoch, Fleet, The, British government’s, Sky Television, Britain’s “, Labor, Trump, Gov, Reagan’s, New, New York Post, The Boston Herald, CNN, Time, Republican, Post, Pew, Republicans, CBS, Viacom, British Sky Broadcasting, Australia spearfishing, Harvard, The Harvard, Rawkus Records, Princeton, Kawasaki, Hollywood, New York Observer, York mayoral, Fox & Friends, Trump International Golf Club, Gateway, America, New York Times, Clinton Climate Initiative, Labor Party centrist, Pacific Partnership, Tea Party, European Union, Freedom Party, Nazi, London, Press Association, Associated Press, Brexit Times, United Nations, Reuters, Photographers, CBS News, Democrat Locations: Macedonia, Southern, San Francisco, Los Angeles, California, United States, Britain, London, Australia, Australian, Sydney, Lachlan, Davos, New York, Dutch, Iraq, British, Gallipoli, Adelaide, White Australia, Luxembourg, York, George H.W ., Midtown Manhattan, Manhattan, Hong Kong, Mumbai, Indonesia, Oregon, Fiji, Murdoch, Cavan, Beverly Hills, L.A, Caribbean, earshot, West Palm, Des Moines, Iowa, Ohio, Clinton, Trump, Downing, Brussels, Europe, Philippines, Manila, Bangkok, Cannes, “, Trump’s, Scotland, Aberdeen, Ailes’s, Russian

Search resuls for: "James Murdoch"

23 mentions found