Finance

The EV and battery storage giant said this week it planned to offer $250m of common stock and $750m of convertible senior notes due in 2022 "in concurrent underwritten registered public offerings". Musk himself is expected to buy US$25 of common stock which translates to 96,900 shares at the public offering price. The automaker is planning to raise more than $1 billion in capital to help bring the auto to market.
  • Gordmans files for Ch. 11 bankruptcy, plans to liquidate stores

    Gordmans files for Ch. 11 bankruptcy, plans to liquidate stores

    Finance

    Wegner of Kutak Rock. "Until further notice, all Gordmans stores are operating as usual without interruption", president and CEO Andy Hall said. The company also recorded losses in five of the last six business quarters. It's stock price fell to 6 cents a share Monday after the announcement. Gordmans value is estimated at $130 million. Gordmans was bought in 2008 by private equity firm Sun Capital Partners.
  • Oil drops below $50 for first time since December on supply glut

    Finance

    The absence of fresh hedge fund buying and the emergence of a small band of short sellers created a liquidity hole and was likely responsible for the abrupt drop in prices which started on March 8. "It was Saudi Arabia which initiated the pricing war in the first place with the aim of radically increasing its market share by squeezing out producers of "costly" oil", Rosneft said, in a reference to shale producers.
  • South Korean court dismisses president Park Geun-Hye

    South Korean court dismisses president Park Geun-Hye

    Finance

    March 10: Constitutional Court upholds parliament's vote to impeach Park, removing her from office. There have been angry scenes outside the court. With that, Korea will now be required to hold a presidential election within the next 60 days. It also opens her up to criminal proceedings. "The dice of destiny have now been cast", South Korea's Yonhap news agency quoted a presidential aide as saying.
  • Elon Musk Makes A Battery Bid To Save South Australia's Power

    Elon Musk Makes A Battery Bid To Save South Australia's Power

    Finance

    In a follow-up tweet , Musk offered Cannon-Brookes a pricing quote for the project: $250 per kilowatt-hour of energy for 100-megawatt-hour systems, according to Reuters , which amounts to a total of $25 million for the batteries. To this, Atlassian CEO tweeted, "You're on mate". Blackouts in South Australia (SA) have led to energy policy battles, with the federal government blaming renewable energy for their woes.
  • Best stocks of the day: Marathon Oil Corporation (MRO)

    Best stocks of the day: Marathon Oil Corporation (MRO)

    Finance

    During the same quarter in the previous year, the firm earned $0.79 earnings per share. Rowland & Co. Investment Counsel ADV purchased a new position in Marathon Petroleum Corp during the third quarter worth about $105,000. Stockholders of record on Thursday, February 16th will be given a $0.36 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.24%.
  • Ford Motor Company (F) Price Target Cut to $11.00

    Ford Motor Company (F) Price Target Cut to $11.00

    Finance

    A number of other institutional investors have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc reissued a "neutral" rating on shares of General Motors Company in a research note on Monday. This represents a $1.52 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Monday, December 5th. General Motors Company's dividend payout ratio (DPR) is presently 25.33%.
  • Standard Life and Aberdeen create UK's largest asset manager

    Standard Life and Aberdeen create UK's largest asset manager

    Finance

    Aberdeen shareholders will receive 0.757 Standard Life shares for each share they own, giving them 33.3 percent of the combined company. Aberdeen's Bill Rattray will become chief financial officer while Standard Life's Rod Paris will become chief investment officer.
  • Deutsche Bank eyes €8bn capital increase

    Deutsche Bank eyes €8bn capital increase

    Finance

    The measures mark a reversal for Mr Cryan, who had unsuccessfully sought to sell Postbank to avoid tapping shareholders for extra cash. Prior to the plan announced Friday, Cryan had been focused on selling Postbank to raise capital. That, along with asset disposals at the investment bank, will help raise another €2 billion of capital. Deutsche is likely to have taken heart from the success of rival UniCredit's CRDI.MI capital hike last month, when it raised 13 billion euros in Italy's ...
  • PSA completes deal for GM's Opel

    PSA completes deal for GM's Opel

    Finance

    In addition, the Opel acquisition could give the PSA group the chance to sell more than 5 million automobiles each year. Len McCluskey, general secretary of Unite, said thousands of Vauxhall workers at Ellesmere Port and Luton had endured a "nerve-wracking" few weeks.
  • Markets pricing in March US rate hike - #SaxoStrats

    Markets pricing in March US rate hike - #SaxoStrats

    Finance

    Having hit 3 1/2-month highs at the beginning of the week above $1,260/oz, spot gold was down around $10 on the day to a two-week low of $1,225/oz at 1500 GMT Friday, and is set for its first weekly decline in five weeks. As she did in January, Yellen insisted that the Fed was not behind the curve in raising rates, despite having increased them only twice since the Great Recession ended nearly eight years ago.