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| September 18, 2018

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Tesla faces U.S. criminal investigation over Elon Musk statements, sources say

September 18, 2018 |

Tesla Inc. is under investigation by the Justice Department over public statements made by the company and Chief Executive Elon Musk, according to two people familiar with the matter. The criminal probe is running alongside a previously reported civil inquiry by securities regulators.

Federal prosecutors…


L.A. Times – Business

The Saudi wealth fund bought Tesla stock. Now it’s investing in Lucid, a Tesla competitor

September 18, 2018 |

Lucid Motors, the Bay Area electric car start-up, has been struggling to raise money for more than a year. Now it appears to have found some: more than a billion dollars from Saudi Arabia’s sovereign wealth fund.

If the deal announced Monday closes as Lucid expects, the company said it will have…


L.A. Times – Business

Trump gets an F from judge for favoring ‘predatory’ for-profit colleges

September 18, 2018 |

President Trump, who paid $ 25 million to settle allegations he defrauded Trump University students, and whose private-school education was covered entirely by his parents, was handed a legal defeat last week in his efforts to ignore a rule enacted by the Obama administration to protect student…


L.A. Times – Business

Storefront lender accused of pushing customers into taking out big loans without interest rate caps

September 18, 2018 |

California regulators want to seize Cash America Advance’s license, alleging the storefront lender duped customers into taking out installment loans with triple-digit interest rates.

The California Department of Business Oversight, in a legal accusation filed late last month, said Cash America…


L.A. Times – Business

Meet the man who’s paying SpaceX to fly him around the moon and back: billionaire Yusaku Maezawa

September 18, 2018 |

Japanese e-commerce billionaire Yusaku Maezawa will be the first paying customer to travel around the moon on SpaceX’s yet-to-be-developed BFR rocket, the company announced Monday night.

In a presentation at SpaceX headquarters, Maezawa — who is worth $ 2.9 billion, according to Forbes — said that…


L.A. Times – Business

Trump imposes $200 billion in Chinese tariffs, sharply escalating a trade war that will now include many household goods

September 17, 2018 |

The Trump administration on Monday announced new tariffs on $ 200 billion of Chinese imports, a sharp escalation of its trade fight with China that will also exact costs on a wide range of American businesses and consumers.

The new tariffs, to take effect next Monday, would initially be set at 10%…


L.A. Times – Business

Elon Musk acknowledges Tesla is in ‘delivery logistics hell’

September 17, 2018 |

Tesla Inc. Chief Executive Elon Musk acknowledged Sunday that his company has been slow in getting new electric Model 3 cars to waiting customers, calling the problem “delivery logistics hell.”

In response to a tweet from a customer who complained to Musk that the delivery date for her car continued…


L.A. Times – Business

SpaceX isn’t the only one interested in heading to the moon. Here’s who else is planning missions

September 17, 2018 |

SpaceX’s plan to send a person on a trip around the moon is just one of a handful of lunar missions proposed by NASA and private firms.

SpaceX plans to announce the lunar traveler’s identity during a livestreamed event Monday evening at SpaceX headquarters in Hawthorne. The individual will travel…


L.A. Times – Business

SpaceX to announce passenger for private moon flight

September 17, 2018 |

SpaceX will announce the identity Monday of a person who will pay the company for a trip around the moon on a yet-to-be-developed rocket, the Elon Musk-led company said.

SpaceX said in a tweet Thursday that the passenger’s name and reason for flying around the moon would be unveiled at an event…


L.A. Times – Business

The gap between men and women’s pay is narrowing. It’s partly because men’s earnings fell

September 17, 2018 |

The gender pay gap has been narrowing over the last four decades — and women’s earnings are now closer to men’s. But that is not only because women are doing better. The trend is also in part because men are earning less.

Earnings for men have fallen in the decade since the recession, and are even…


L.A. Times – Business