Category: News Site

Private Equity Firm Takes Stake in CarTrawler

CarTrawler announces the winners of its 2019 Customer Satisfaction Awards in Dublin in November, 2019. Photo courtesy of CarTrawler. CarTrawler, a B2B provider of car rental and mobility solutions to the global travel industry, announced on May 19 a controlling equity investment more than €100 million ($111 million) from TowerBrook Capital Partners L.P., an international investment… Continue reading Private Equity Firm Takes Stake in CarTrawler

Airbag maker Autoliv sees April sales tumble as pandemic hits demand

STOCKHOLM, May 29 (Reuters) – Sweden’s Autoliv , the world’s largest maker of airbags and seatbelts, on Friday said it had seen a very challenging start to the second quarter with the North American and European markets grinding to a halt in April. “With our largest markets Americas and Europe virtually standing still in April,… Continue reading Airbag maker Autoliv sees April sales tumble as pandemic hits demand

Elon Musk reaches first Tesla compensation award worth nearly $800 million

Tesla CEO Elon Musk has unlocked the first of 12 possible stock option awards from the massive compensation plan he signed in 2018, and it’s worth nearly $800 million. The company disclosed on Thursday that Musk now has the option to buy 1.69 million of its shares because Tesla eclipsed $20 billion in total revenue… Continue reading Elon Musk reaches first Tesla compensation award worth nearly $800 million

Days after layoffs, an Uber exec sold over half her Uber stock for $8.6 million, while cofounder Garrett Camp has sold $69.6 million in stock since March 12 (UBER)

Days after Uber laid off about a quarter of its workforce, one of its senior executives — marketing leader Jill Hazelbaker — sold more than half of her stake of Uber shares for $8.6 million. Employees have been chattering about the sale internally, not only because of its timing but because of its size, with… Continue reading Days after layoffs, an Uber exec sold over half her Uber stock for $8.6 million, while cofounder Garrett Camp has sold $69.6 million in stock since March 12 (UBER)

Elon Musk has officially hit the first milestone of his $55 billion compensation package (TSLA)

Elon Musk unlocks first part of $55 billion compensation package – Business Insider World globe An icon of the world globe, indicating different international options.” US Edition Facebook Icon The letter F. Twitter icon A stylized bird with an open mouth, tweeting. LinkedIn icon The word “in”. YouTube icon A play button in the shape… Continue reading Elon Musk has officially hit the first milestone of his $55 billion compensation package (TSLA)

Rivian’s Amazon electric delivery van still on track as factory reopens

Rivian, the electric vehicle company backed by Amazon, Cox Automotive and Ford, has resumed work at its factory in Normal, Ill. following a temporary shutdown due to the COVID-19 pandemic. Construction on the factory, which will eventually produce its R1T and R1S electric vehicles for consumers as well as 100,000 delivery vans for Amazon, has… Continue reading Rivian’s Amazon electric delivery van still on track as factory reopens

Italy’s credit agency SACE approves state guarantees for FCA $7 billion bank loan: source

FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S., May 25, 2018. REUTERS/Rebecca Cook MILAN (Reuters) – The board of Italy’s export credit agency SACE has approved state guarantees covering 80% of a 6.3 billion euro ($7 billion) bank loan for Fiat Chrysler (FCHA.MI) (FCAU.N),… Continue reading Italy’s credit agency SACE approves state guarantees for FCA $7 billion bank loan: source

Renault prepares for 15,000 job cuts

Struggling French carmaker Renault is said to be planning 15,000 job cuts around the world as it tries to contain losses amid the pandemic. The move comes as the virus deepens the challenges facing the firm, which saw its first annual loss in a decade last year. The company, which has pledged to cut costs… Continue reading Renault prepares for 15,000 job cuts

The VW system strikes back

Otherwise, the brand’s new vehicles get their finishing touches in the pilot hall on Volkswagen’s Wolfsburg site. Because the boardroom in the branded high-rise, where VW’s board of directors resides, is too small in Corona times, the group’s supervisory board gathered there on Thursday. The most important topic: the power struggle between the Volkswagen boss,… Continue reading The VW system strikes back