US Securities and Exchange Commisson

'Put your mobile away'

BBC Radio 5 Live

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."

Musk arrives in New York for contempt hearing

Technology entrepreneur Elon Musk has arrived in New York for a hearing to decide whether a tweet he posted on 19 February violated a 2018 fraud settlement with the US Securities and Exchange Commission.

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VW complaint

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Volkswagen is being accused of perpetrating a "massive fraud" on US investors by the US regulator, the Securities and Exchange Commission.

The SEC said in its complaint filed in San Francisco that from April 2014 to May 2015, Volkswagen issued more than $13bn in bonds and asset-backed securities in US markets at a time when senior executives knew that more than 500,000 US diesel vehicles grossly exceeded legal vehicle emissions limits.

The SEC wants to stop former chief executive Martin Winterkorn from being a director of a US company.

Volkswagen said it would contest the complaint which it said was"legally and factually flawed".

"The SEC has brought an unprecedented complaint over securities sold only to sophisticated investors who were not harmed and received all payments of interest and principal in full and on time."