Elon Musk

Tesla's 'record quarter'

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Elon Musk, chief executive of Tesla, has told shareholders in the electric carmaker he founded that the company has "a decent shot at a record quarter on every level".

He was speaking at the annual general meeting yesterday - and helped the shares rise 3.6% to $225 in after hours trading.

"It's hard to be profitable with a high growth rate," Mr Musk said, after the business lost $702m (£550m) in the first quarter.

For the second quarter it has said it plans to deliver 90,000 to 100,000 vehicles to customers in the second quarter versus 63,000 vehicles in the first.

Tesla's unusual hiring methods

Elon Musk

Elon Musk is well known for running his company rather differently to most founders, but it's worked out well for Adam Koszary, the social media strategist behind The Museum of English Rural Life's Twitter account.

After he posted a picture of "an absolute unit" of a sheep to his work Twitter account, it was picked up by Mr Musk who has now hired Mr Koszary as the social media manager for his car company Tesla.

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Tesla offering priced

Elon musk

Tesla has announced the pricing of a $2.3bn fundraising announced yesterday.

It says the offering of 3.1m shares was priced at $244.10 per share.

Founder Elon Musk (pictured) could buy as many as $25m of the shares being offered.

The electric carmaker is also issuing debt as part of the fundraising which is intended to help fuel its expansion plans.

Tesla to raise capital

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Away from the Bank of England for a moment.

Electric carmaker Tesla says it is launching a $2bn (£1.5bn) fundraising through $650m in shares and the rest in debt.

Elon Musk, the founder, is expected to buy $10m of the new shares.

The extra funds are needed for its expansion plans.

'Put your mobile away'

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Elon musk arrives at federal court on 4 April 2019
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Elon Musk's lawyers are currently in court-ordered talks with the US Securities and Exchange Commission (SEC), as they try to prevent the regulator from removing him from Tesla.

However, on Monday the controversial technology entrepreneur posted a now-deleted tweet about Tesla production forecast, saying that the electric car firm will make over 500,000 cars in the next 12 months.

A similar tweet in February led the SEC to argue that Mr Musk was in contempt for violating a settlement aimed at limiting his social media comments.

“I think the advice would be to put his mobile away as it’s causing enough problems," Will Walker-Arnott, senior investment manager at Charles Stanley told Wake Up to Money.

"Tesla has enough problems ramping up production, without tweeting on his phone.

“He's under a lot of pressure - at one point he set up production marquees in the car park to reach production targets."

SpaceX nails triple booster landing after satellite delivery
Elon Musk's Falcon Heavy launched a satellite into orbit for a Saudi Arabian company.