Tesla Offers an Unprecedented Look at the Bench Behind Elon Musk

(Bloomberg) — What they see was an unprecedented number of executives share the stage with Elon Musk, who irked some shareholders by acquiring Twitter for $44 billion last year and funding the deal at least in part by selling billions of dollars worth of Tesla stock. Twitter didn’t come up at all during the roughly … Read more

The $100 Billion Offshore Wind Industry Has a Whale Problem

“We believe that it’s going to destroy our tourism industry,” said Suzanne Hornick, a resident living in Ocean City, New Jersey, and a member of Protect Our Coast NJ. “When people come to Ocean City, they don’t want to look at an industrial park.” Meanwhile, companies developing the turbines argue that even on a clear day … Read more

Pacific Storm Will Pummel US With Snow, Floods and Tornadoes

Upwards of 2 inches of rain could drop suddenly in the valleys of Southern California Saturday into Sunday with up to 6 inches in coastal foothills and mountains, touching off floods and landslides, the US National Weather Service said. Then snow could fall by the foot in the Sierra Nevada range, as well as in … Read more

Airbus Is Coming for Boeing’s 737

(Bloomberg Businessweek) — Designing a new commercial aircraft requires huge financial outlays and years of engineering wizardry, and success isn’t assured, as the short-lived Airbus A380 jumbo can attest. Such missteps—the double-decker jet never recouped its $20 billion in development costs before being dropped in 2019—explain why the aerospace industry’s preferred route these days is … Read more

Porsche Rises in Landmark IPO Weathering Tough Markets

Porsche’s listing is a bold move into public markets, which have been largely shut to IPOs for most of the year, with companies shying away from seeking new listings because of the European energy crisis, rising interest rates and record inflation. The sale will help Volkswagen raise funds to plow into its electrification push, while … Read more

This Is What Life’s Like in the World’s Strictest Covid Zero City

Seven times since last March, Ruili—on China’s Myanmar border—has felt the full force of Xi Jinping’s Covid Zero policy.

Porsche Blockbuster Deal Gives Dormant Europe IPO Market a Jolt

“Our base case is that the IPO market in Europe remains quiet until Q1 next year, with a few exceptions such as the iconic Porsche or other profitable, mature businesses in the few sectors en vogue,” said Fabian De Smet, head of Berenberg’s investment bank in continental Europe, citing energy transition as an example of … Read more