Year: 2020

Tesla (TSLA) CEO Elon Musk has now received access to the first of 12 potential stock option awards from his extensive 2018 compensation plan- and thanks to the stock’s recent rally, these shares are now worth a whopping $775M.To receive his stock options, the company’s market cap had to stay at $100B or more on a 30-day and six-month moving average, alongside trailing four-quarter revenue of $20B or EBITDA of $1.5B.Musk can now purchase 1.7M Tesla shares at $350.02 each, or $591M total. Based on Thursday’s closing price, these shares now have a total value of about $775M. Of course, …read more […]

(Bloomberg) — The struggle to maintain confidence in Hong Kong’s future is manifesting in its stock and currency markets.Waves of mainland capital are flooding into equities, especially megacap Chinese banks, countering losses sparked by sweeping national security legislation. Tension is also building in the foreign exchange market, where options and forwards show the pegged currency will reach the weak end of its trading band.Stability in financial markets would reinforce the message being promoted by officials and tycoons alike: that tougher laws on dissent will bring calm to a city wracked by violent protests. The city’s leader Carrie Lam cited gains …read more […]

Rosneft does not have enough crude to ship to buyers with which it has long-term supply deals, making it hard for the Russian company to continue with record oil cuts beyond June, four sources familiar with the matter told Reuters on Thursday. Rosneft has told the energy ministry it would be difficult to maintain cuts to the end of the year, as it has had to cut shipments to major buyers, such as Glencore and Trafigura, despite good demand, two sources close to the talks said on condition of anonymity. “There is no doubt Rosneft will …read more […]

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(Bloomberg) — Stocks slipped and U.S. futures edged lower on Friday as President Donald Trump’s planned press conference on China threatened to further stoke tensions between the world’s two largest economies. Treasuries gained along with most European bonds.The Stoxx 600 Index fell for the first time in five days, dragged lower by travel shares and automakers, as deteriorating Sino-American ties cast a cloud over a global stock rally spurred by reopening economies. Contracts on the main U.S. equity benchmarks nudged lower after Trump told reporters he would announce what the administration would do “with respect to China,” following Beijing’s moves …read more […]

Spot gold was unchanged at $1,718.60 per ounce by 0616 GMT. U.S. gold futures rose 0.2% to $1,716.50. “Gold remains wedged between potentially positive economic developments that have been dragging prices lower, and a rise in geopolitical tensions with China over Hong Kong,” said Cameron Alexander, an analyst with Refinitiv-owned metals consultancy GFMS. …read more […]