BusinessInnovationTechnology

Tesla Reports Mixed Q3 Results Amid Musk’s Pay Package Controversy and European Space Alliance Forms

Tesla announced a 37% drop in quarterly profits even as revenue hit a new high, with CEO Elon Musk labeling firms opposing his compensation plan “corporate terrorists.” In related news, European aerospace giants are joining forces to compete with rivals like Starlink.

Tesla’s Financial Performance

Tesla’s third-quarter financial results revealed a mixed picture, with record revenue but a significant profit decline, according to reports. The company reportedly achieved $28 billion in revenue for the three months ending September, a 12% increase from the same period last year, driven by U.S. buyers rushing to secure electric vehicle tax credits before their expiration. However, profits fell by 37% year-over-year, which analysts suggest is partly due to increased costs from tariffs and research investments.

BusinessManufacturingTechnology

Barloworld Nears Delisting as Newco Secures 90.7% Controlling Stake

Industrial equipment firm Barloworld is approaching full private ownership as Newco consolidates control over 90.7% of ordinary shares. The extended tender period allows remaining shareholders to complete transactions ahead of anticipated delisting.

Private Ownership Transition Accelerates

Industrial equipment company Barloworld is reportedly nearing the final stages of its transition to private ownership, with consortium-backed Newco now controlling 90.7% of the company’s ordinary shares, according to recent reports. Sources indicate this significant milestone positions the company for potential delisting from public exchanges once formal requirements are met.