Elon Musk took to Twitter on Saturday to announce a $78,000 version of the Tesla Model 3. The Tesla Model 3 was originally revealed in 2016 as a $35,000 mass-market vehicle. Tesla needs an influx of revenue, and a very expensive trim level of the Model 3 will help.
NEW YORK (AP) — General Electric will tie its train engine division to the railroad equipment maker Wabtec in deal worth about $11 billion as GE CEO John Flannery continues to break off parts of the conglomerate.
As part of the deal announced on Monday, each MB Financial shareholder will get $54.20, comprising 1.45 shares of Fifth Third common stock and $5.54 in cash, a 24 percent premium to MB Financial's last close. Shares of MB Financial were up 14 percent at $49.75 in early trade, while Fifth Third shares were down 7.2 percent at $31.12. D.A. Davidson analyst Kevin Reevey said that Fifth Third was limited in their ability to expand in Ohio and that the acquisition of Chicago-based MB Financial was the most logical move for them, from a geographical standpoint, in order to expand their deposit franchise.
White plumes of acid and extremely fine shards of glass billowed into the sky over Hawaii as molten rock from Kilauea volcano poured into the ocean, creating yet another hazard from an eruption that began more than two weeks ago: A toxic steam cloud. Authorities on Sunday warned the public to stay away the cloud that formed by a chemical reaction when lava touched seawater. Further upslope, lava continued gushing out of large cracks in the ground in residential neighborhoods in a rural part of the Big Island.
HMD Global, the Finnish company that owns the right to use the Nokia brand on phones, has raised $100 million of funding intended to boost growth, it said on Monday. Having sold about 70 million Nokia phones and generated sales of 1.8 billion euros (1.6 billion pounds) in its first year, 2017, HMD said it plans to expand its Nokia smartphone range and to double sales channels in key markets this year. The fundraising round was led by Ginko Ventures, a fund owned by Jean-Francois Baril, a long-serving former senior vice president at Nokia.
