Tag: Elon

Urja Global hits upper circuit on new Tesla contract. Just that it’s not Elon Musk’s Tesla; Details here

Stock market today: Small-cap company Urja Global’s stock price hit upper-circuit after the company said it has signed a deal with Tesla Power USA.

Many investors thought this was Elon Musk’s electric vehicle (EV) maker Tesla and hurriedly bought the stock sending it up by 20%, at 12.70 per share.

Just that, the Tesla Power USA has nothing to do with the carmaker Tesla owned by Elon Musk. It is a company that makes four wheeler car batteries, inverter batteries and two wheeler batteries and is based on Delaware, USA. It is present in India through its distribution channels and retail, its website reads.

Reacting to Urja Global shares hitting upper circuit, ace investor Vijay Kedia tweeted, “I am thrilled to read a news about a listed Indian company “tied up” with Tesla USA. I did some homework and found It’s not Elon musk’s tesla, it actually belongs to a Delhi based promoter’s USA subsidiary in the name of Tesla. Stock is in upper circuit. Long live bull market.”

See Vijay Kedia tweet below:

Urja Global’s disclosure sent the stock to hit upper circuit for the last two sessions.

Tesla Power Urja Global deal

Urja Global informed Indian stock market exchanges about the development citing, “We glad to inform that the Urja Global Limited (“UGL”) has entered into Agreement on 07th June, 2023 with Tesla Power India Private Limited for the purpose of Manufacturing and Supply of batteries under the

Elon Musk’s Twitter Blue is breaking European guidelines about unfair small business tactics by failing to clearly show its entire expense to people appropriate away, EU company claims

An image of new Twitter owner Elon Musk is seen surrounded by Twitter logos in this photo illustration.

Twitter Blue was rolled out to European Union international locations in February and March.Getty Images

  • Elon Musk’s Twitter Blue membership is a flagship undertaking to make the organization profitable.

  • But the advertised subscription selling prices in the European Union really don’t element in taxes.

  • An EU shopper protection watchdog instructed Insider this breached pricing guidelines in the bloc.

Elon Musk’s Twitter Blue subscription is breaking European Union procedures about unfair enterprise methods, a client watchdog in the bloc instructed Insider.

Exclusively, the marketed membership prices you should not variable in taxes, which violates customer-defense guidelines in the 27-region union, a spokesperson for the watchdog claimed.

Twitter Blue is a person of Musk’s flagship projects made to make the social-media company lucrative. It was rolled out to EU countries in February and March.

In EU nations that use the euro forex, Twitter Blue has an marketed monthly price of 8 euros, or about $8.50, for the internet application — a small more than the $8 rate in the US. The advertised annual price for most EU users is 84 euros, or about $88.50, vs . $84 in the US.

Nonetheless, the EU price ranges do not incorporate price-included tax, a form of sales tax which is diverse throughout Europe for instance, it is really 17% in Luxembourg and 25% in Sweden. While in the US revenue tax is extra to the advertised price tag at checkout, the EU demands companies to advertise the full price tag including the VAT.

That signifies Twitter buyers in Europe would not know the subscription could essentially price tag an additional $20 a calendar year right up until the Stripe checkout website page immediately adds the tax after a 2nd or two.

Insider tested the Twitter Blue subscription process in the British isles and,

Elon Musk Has A Suggestion For Warren Buffett-Led Berkshire’s $128B Money Hoard Invest In Firm That ‘Starts With A T…’ – Tesla (NASDAQ:TSLA), Berkshire Hathaway Inc. Common Inventory (NYSE:BRK/A)

Berkshire Hathaway, Inc.’s BRKA BRKB fourth-quarter earnings report unveiled on Saturday showed that the expense-holding company’s income situation at the end of the year improved from the September degree.

What Happened: Tesla TSLA CEO Elon Musk presented an belief for investing the hard cash reserves of the Warren Buffett-led company.  He was responding to a trader’s tweet soliciting viewpoints with regards to the stocks Berkshire can acquire with the $128 billion+ hard cash it holds.

“Starts with a T…,” the billionaire replied, seemingly referring to his flagship electrical motor vehicle venture Tesla.

Musk followed it up with a tweet in which he mentioned Charlie Munger had the alternative to make investments in Tesla way again at a valuation of all-around $200 million when both equally experienced lunch collectively practically 15 yrs ago. Munger is Buffett’s reliable lieutenant and second-in-command at Berkshire in his capability as Vice Chairman. 

This is not the very first time Musk is recounting the incident that transpired concerning him and Munger. In reply to a tweet in February 2022, the Tesla CEO explained he had lunch with Munger in 2009, when the latter mentioned all the approaches Tesla would fail. Even though agreeing with Munger on Tesla likely failing, Musk apparently mentioned it was value striving anyway.

See also: Every little thing You Need to have To Know About Tesla Stock

Why It’s Critical: Musk’s rendezvous with Munger, going by the timeline the previous described, apparently took position forward of Tesla’s IPO on June 29, 2010. Given that then, Tesla has developed in rank and is presently a mega-cap business with a industry capitalization of about $623 billion. Tesla bull Cathie Wood expects the inventory to hit $500 by 2026, up from the present-day $196.88, considering only the EV section of the Tesla tale. If

Elon Musk’s Twitter buy not below U.S. authorities investigation

Remark

Federal authorities have no ideas to open an investigation into Elon Musk’s acquire of Twitter with aid from international buyers, in accordance to two folks knowledgeable of the make a difference, irrespective of fears from President Biden and the demands of a top rated Democratic senator worried about the social network’s intercontinental money backers.

Musk’s order of the web site had drawn scrutiny immediately after studies that the offer presented specific privileges to substantial international investors, such as a Saudi prince’s keeping enterprise and a cryptocurrency exchange started in China. But at least for now, officials on the Committee on International Financial commitment in the United States (CFIUS) do not believe they have jurisdiction to formally probe the offer, in accordance to the two persons, who were being briefed on the committee’s conclusion and spoke on the situation of anonymity to replicate inner authorities deliberations.

U.S. discovering regardless of whether it has authority to evaluation Musk’s Twitter offer

The committee’s mandate is to take a look at acquisitions of U.S. companies by foreign entrepreneurs Musk is an American citizen. Though the $44 billion deal relied on $2.5 billion from overseas backers and granted some of them unconventional privileges, together with particular obtain to Twitter user information, investigators do not surface to consider the situation meet up with the criteria for federal intervention, the individuals mentioned.

“They have not absolutely shut the door on it, but they are really absolutely sure they never have jurisdiction in this case,” a person of the folks briefed on the subject stated.

Treasury Secretary Janet L. Yellen chairs the committee. A Treasury spokeswoman declined to remark.

Twitter officers did not respond to a ask for for remark, nor did Musk.

Late past month, Musk satisfied with prime lawmakers on Capitol