Tesla Inc. paid its chairman and founder, Elon Musk, $ 3 million in compensation for D&O insurance to defend, settle disputes, or make court decisions. This was reported by Insurance Business.
This insurance covers the expenses of the members of the board of directors, which are not included in the general expenses of the top management of the company.
In June 2020, Musk and Tesla signed an agreement under which the company undertook to provide compensation for damages for D&O for 90 days under Musk’s insurance for $ 100 million.
At the same time, in the previous version of the contract, Tesla undertook to pay Mask $ 1 million to cover D&O. This amount was confirmed to the publication by insiders in insurance companies.
Tesla Mask’s $ 3 million payment was based on the cost of a market premium of 90 days and reduced by half.
Shares of Zoom Video Communications, which rose 716% over the past 12 months, rose 5.8% during trading on Monday, but closed with an increase of 1.23%. This is very different from the general decline in the market on Monday – major US stock indexes closed lower: the S&P 500 by 1.86%, the Dow Jones by […]
Tesla Inc. of Elon Musk will export Model 3 electric cars made in China to Europe. This was reported by the Interfax-Ukraine news agency with reference to the company’s statement. The first batch of 7,000 cars will be shipped from the port of Shanghai on October 27. They are expected to reach the Belgian port […]
Tesla is recalling about 50,000 Model S and Model X cars manufactured in the United States in different years and imported to China due to the identified suspension problems. This was reported on its website by the Chinese State Administration of Market Regulation. According to the statement of the Chinese regulator, almost 30 thousand Model […]
Shares of Tesla rose by 2.73% to $ 425.30 on Wednesday amid overall stock index growth, however, this growth was lower than the growth of shares of competitors such as Ford, General Motors and Chinese automaker NIO, which rose by 3.58%, 4% and 4.3% respectively. Tesla’s current share price of $ 77.19 is below the […]
Production and supplies of the American manufacturer of the electric vehicles Tesla grew in the third quarter of 2020 by almost 1.5 times a year, the company said in the release. Therefore, Tesla’s deliveries in the third quarter amounted to 139.3 thousand against 97 thousand in 2019, and the production – 145.036 thousand compared with […]
At the Tesla Battery Day event, its founder Elon Musk announced the plans to build a budget electric car for $ 25,000 using a much cheaper battery. If the plans will be realized, the new car will be the most budgetable in the Tesla line. Nowadays the company’s cheapest model – sedan Model 3 – […]
Tesla met all the criteria, but it was still not included in the S&P 500. Committee of the S&P Dow Jones Indices refused to include Tesla`s shares in the S&P 500. Such decision was made despite the automaker’s fulfillment of the last criterion to be included in the index – Tesla showed a profit for […]
Quotes of the Bed Bath & Beyond jumped from 33.47% to $ 19.99 according to the trading data. Papers are growing due to the strong report for the second quarter of 2020. The Bed Bath & Beyond chain announced the first increase in the in-store sales in almost four years. The jump in the revenue […]Next
The director of a large state enterprise telecommunications, China Telecom was accused by the Chinese government in corruption. In particular, the government accuses the CEO Chang Xiao Bin in the “global misconduct of the party”, – reported on the website of the Chinese government. The Central Disciplinary Commission opened an investigation into the case. It […]Next
The American company SpaceX will launch the first Starship spacecraft into Earth orbit, most likely in 2021. It said its founder Elon Musk, speaking at a video conference on the problem of human flight to Mars, according to TASS on Tuesday, September 1. Mask was asked when the first test flight of Starship into orbit […]Next
The Deposit Guarantee Fund of individuals is starting the procedure of withdrawal from the market of Arcade Bank, the press service of the FDG reported. The Fund offered several options for removing the bank from the market: liquidation of the bank of exclusion in the elimination of all or part of its assets and liabilities […]Next
The President’s Office stated that the decision of the Kyiv District Administrative Court (KDAC) to dismiss NABU Director Artem Sytnyk could not be considered final, as it would be appealed. This was announced on Tuesday, October 27 by the press service of the President’s Office. The President also noted that any differences over anti-corruption bodies […]Next
During the pandemic, Delta lost three-quarters of its revenue over the same period last year. The company can avoid layoffs if management and the trade unions will be able to conclude an agreement to cut costs, and the White House will continue to provide subsidies to airlines. Currently, the airline employs 11,200 pilots. Back in […]Next
A new calendar year always offers an opportunity for a fresh start and provides an additional pinch of motivation to banish some habits that have stopped serving you well (did they ever?). Here are 10 things to leave behind to foster a stronger, happier, more successful you in 2017. (Entrepreneur) 1. Procrastinating on your goals […]Next
Volkswagen AG, probably close to an agreement with the California regulator, who previously rejected a proposal by the German automaker recall cars in the framework of the settlement of the consequences of “diesel scandal”. Mary Nichols, head of the California Air Resources Board Protection (California Air Resources Board, CARB) said that the negotiations with Volkswagen […]Next
Hong Kong is known to all as the home of world capitalism. In contrast to the politicized financial centers in mainland China, where according to local residents the markets are transparent and the rights of minority shareholders are protected. As a proof of this is an example of the fact […]Next
International financial company Fairfax Financial Holdings Limited (Toronto headquarters, Canada) purchased 9.99% of shares of agricultural Ukrainian holding Astarta, which is the flagship of the domestic sugar market, which also is one of the largest provider of milk in the country. In addition,a new owner of shares acquired the right to purchase the remaining interest […]Next
“Danone Ukraine” Company has launched a new production facility for the manufacture of milk food for babies of TM “Tema” at the state milk plant in Kremenchug. This was said to AgroPortal.ua by the press-service of the company. Investments amounted to 200 million UAH and the production capacity estimates at 700 tons per month, or […]Next
Special isothermal containers have been developed for the transportation and storage of the new coronavirus vaccine by the pharmaceutical companies Pfizer and BioNTech. This was announced by Pfizer CEO Albert Burla in an interview with The New York Times on Tuesday, November 17. “These containers are equipped with GPS sensors and thermometers inside so that […]Next
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American chipmaker Advanced Micro Devices Inc (AMD) is buying rival Xilinx Inc for $ 35 billion under a deal that it will be paid for in full by AMD shares. According to a press release from AMD, the operation will create a company worth about $ 135 billion. “The acquisition of Xilinx will allow AMD […]Next
The Stockholm arbitration prohibited the “Odessa Portside Plant”, PJSC to alienate non-current assets, according to the press-service of Group DF. “March 31, 2016 the Stockholm arbitration satisfied the request of the Ostchem Holding Ltd (included in Group DF) and ordered the OPP till August 31, 2016 to refrain from alienation or encumbrance in any way […]Next
Chinese companies continue to actively increase their presence in the business world. Recently it became known that the company Dalian Wanda Group, which specializes in the construction of residential and commercial property, acquires the major USA cinema-company Legendary Entertainment for $ 4 billion. After the implementation of the agreement, most of the shares will pass […]Next