Elon Musk sells nearly $4 billion of Tesla stock after Twitter acquisition

Elon Musk sells nearly $4 billion of Tesla stock after Twitter acquisition

Elon Musk sold nearly $4 billion in Tesla Inc. TSLA -2.93% stock after buying Twitter Inc. for 44 billion Mr. Musk sold 19.5 million shares in Tesla 4.-8. Nov., according to regulatory disclosures released Tuesday. Tesla’s CEO, who has become the world’s richest person thanks in large part to his stake in the car company, … Read more

Lucid to raise up to $1.5 billion in stock sale

Lucid to raise up to $1.5 billion in stock sale

LOS ANGELES—Lucid Group Inc. said it may raise up to $1.5 billion through the sale of stock to fund future operations as the electric car maker ramps up factory spending to push out more cars. The EV startup disclosed the fundraising plans in regulatory filings after it said third-quarter losses widened from the same period … Read more

Crypto Exchange Binance to Acquire Rival FTX

Crypto Exchange Binance to Acquire Rival FTX

Cryptocurrency exchange FTX, just months removed from looking like a shining survivor in a struggling industry, succumbed to its own sudden liquidity crisis on Tuesday and was taken over by rival Binance. The deal signals a shift in power in the crypto world, which has been decimated by rising interest rates and investors retreating from … Read more

Activision scores some downside protection

Activision scores some downside protection

A billboard for the Activision video game ‘Call of Duty: Modern Warfare II.’ Photo: Richard B. Levine/Levine-Roberts/Sipa USA/Reuters Fantasy video games can still inflict wounds in the real world, but a 19-year-old franchise is also proving to be very hard to kill. Activision ATVI 1.57% Blizzard’s latest “Call of Duty” iteration is selling strongly, marking … Read more

Theranos founder Elizabeth Holmes is denied a bid for a new trial

Theranos founder Elizabeth Holmes is denied a bid for a new trial

A federal judge rejected Elizabeth Holmes’ bid for a new trial, the latest setback for the Theranos Inc. founder, who was convicted of fraud in January. U.S. District Judge Edward Davila, who supervised Ms. Holmes’ trial, which began last year, said in a ruling late Monday that the arguments in her three motions for a … Read more

Renault must disassemble EV unit in thorough overhaul

Renault must disassemble EV unit in thorough overhaul

PARIS — Renault on RNO -2.12% said it would split itself into several divisions, put its core business that makes conventionally powered cars into a joint venture with a Chinese partner and detailed plans for a separate IPO of its electric car division. The restructuring, one of the most radical in the French carmaker’s 124-year … Read more

Airbnb details Roadmap to lower cloud costs

Airbnb details Roadmap to lower cloud costs

Moving by Airbnb Inc. lowering its cloud storage costs in the run-up to its December 2020 IPO has made it better prepared for the possibility of an economic downturn, the home-sharing company said. Analysts say its efforts offer a template for other companies looking to get a handle on spending as more IT shifts to … Read more

Foxconn plans to invest $170 million in EV truck maker Lordstown Motors

Foxconn plans to invest $170 million in EV truck maker Lordstown Motors

The two companies said Monday that Taipei-based Foxconn plans to spend $170 million to buy common stock and newly created preferred stock, giving Lordstown Motors a fresh injection of capital as it works to ramp up production of its debut model, the Endurance. In addition, Foxconn and Lordstown Motors said they would jointly develop their … Read more

Walgreens unit close to about $9 billion deals in summit health

Walgreens unit close to about $9 billion deals in summit health

A unit of Walgreens Boots Alliance Inc. WBA 3.72% is nearing a deal to combine with a major owner of medical practices and urgent care centers in a transaction valued at about $9 billion including debt, according to people familiar with the matter, the latest in a series of acquisitions by large consumer-focused companies that … Read more

The best places to get income in the bond market now

The best places to get income in the bond market now

Bonds have performed so poorly this year that many investors are probably wondering what the point of owning any is. People usually buy fixed-income investments to add stability to portfolios in addition to collecting regular income — but that strategy has backfired this year. Funds that track the U.S. bond market have fallen about 16%, … Read more