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Tag: private

Watch live: Elon Musk to announce first private passenger to fly around the moon

Watch live: Elon Musk to announce first private passenger to fly around the moon

Science
Sept. 17 (UPI) -- SpaceX founder Elon Musk is set to announce the first private space passenger to fly around the moon on Monday evening. Musk's announcement will be streamed live online. Coverage begins at 9 p.m. ET. According to SpaceX, the mystery passenger will be carried on a trip around around the moon on the aerospace company's next-generation rocket, the Big Falcon Rocket, or BFR. The plans aren't exactly new. In 2017, SpaceX said two unnamed people had put down large deposits to reserve a spot on the private lunar flight. Originally, the Falcon Heavy -- which completed its first static test fire earlier this year -- was scheduled to carry space tourists to the moon and back. Those plans were nixed. Now, if all goes as planned, passengers will by ferried by BFR. As The Verge repo...
Public sector banks are much easier to defraud than private sector ones: Here's the proof

Public sector banks are much easier to defraud than private sector ones: Here's the proof

Finance
Clearly, it is much easier to defraud public sector banks than private sector ones in India and the figures speak volumes about the way the latter are run. According to the Reserve Bank of India‚Äôs (RBI) annual report for 2017-18, during 2017-18, public sector banks accounted for almost all (92.9 per cent) of the amount involved in frauds. While the private sector banks accounted for 6 per cent. With regards to the cumulative amount involved in frauds till March 31, 2018, PSBs accounted for around 85 per cent, while the private sector banks accounted for a little over 10 per cent. Banking frauds in general are on the rise. According the central bank’s annual report, the number of cases on frauds reported by banks were generally hovering at around 4500 in the last 10 years before thei
Elon Musk U-turns on plan to take Tesla private

Elon Musk U-turns on plan to take Tesla private

Technology
Tesla founder Elon Musk has announced he no longer wishes to take his company private. Shares in the car and renewable energy manufacturer soared and then fell after Mr Musk tweeted on 7 August he intended to take the firm off the stock market.His initial move came after the company announced its biggest net loss to date of $ 717.5m (£547.6m) for its second quarter to June.Mr Musk, the firm's CEO and chairman, has faced growing criticism over his management style and whether the firm can deliver the volumes required to meet demand. The value of Tesla's stock has turned him into one of the world's richest men as investors have bet on its technology becoming increasingly valuable as the world switches from fossil fuels to renewables.In a statement made on the Tesla web...
Saudi Arabia pushed to take Tesla private – Musk

Saudi Arabia pushed to take Tesla private – Musk

Business
Elon Musk, the billionaire chief executive of Tesla, has claimed that Saudi Arabia's sovereign wealth fund has been pushing to take the electric car maker private. In a blog post, Mr Musk said he had discussed the proposal with the sovereign wealth fund for almost two years and it had backed the plan last week."Going back almost two years, the Saudi Arabian sovereign wealth fund has approached me multiple times about taking Tesla private," Musk wrote."They first met with me at the beginning of 2017 to express this interest because of the important need to diversify away from oil. They then held several additional meetings with me over the next year to reiterate this interest and to try to move forward with a going private transaction. ...
Musk sued over plan to take Tesla private

Musk sued over plan to take Tesla private

Technology
Elon Musk and his electric car firm Tesla are being sued by investors who accuse them of concocting a scheme to "completely decimate" short-sellers. The two lawsuits were filed three days after Mr Musk announced on Twitter that planned to take Tesla private in a record $ 72bn (£56bn) transaction.The billionaire claimed funding had been "secured" for a deal which would value the firm at a price of $ 420 (£328) per share - more than double Apple's current value ($ 207 per share). Am considering taking Tesla private at $ 420. Funding secured.— Elon Musk (@elonmusk) August 7, 2018 He then answered a number of questions from some of his 22.3 million followers, reiterating these points.One plaintiff Kalman Isaacs said t...