>>> Salvator Mundi : la stupéfiante affaire du dernier Vinci
https://www.france.tv/france-5/le-monde-en-face/2369953-salvator-mundi-la-stupefiante-affaire-du-dernier-vinci.html
Tesla offered Herbert Diess CEO job in 2015 - Business Insider - Reuters News
13-Apr-2021 14:41:59
FRANKFURT, April 13 (Reuters) - Tesla TSLA.O offered Herbert Diess the job of chief executive in 2015 before he left BMW BMWG.DE for Volkswagen VOWG_p.DE, Business Insider reported on Tuesday, without citing where it obtained the information.
The report said that Tesla had already sent a contract to Diess - an admirer of the U.S. electric carmaker and its boss Elon Musk - who instead joined Volkswagen as a management board member on July 1, 2015 after serving as board member in charge of production at BMW.
Diess became Volkswagen's chief executive in April 2018.
A spokesman for Volkswagen declined to comment. A spokesman for Tesla in Germany had no immediate comment.
The news comes as Volkswagen emerges as the main contender to Tesla for global electric vehicle supremacy, underscored by a raft of announcements, including a Power Day, that has provided a jolt to its share price. (Full Story)
Volkswagen, which earlier on Tuesday struck a wage deal with nearly a fifth of its workers, has seen its share price rise by more than half since the beginning of the year, giving it a market capitalisation of 136 billion euros ($162 billion).
Gapping up
In reaction to earnings/guidance:
- DHR +1.6% (Q1 guidance)
Other news:
- NVCR +41% (announced an update regarding its phase 3 pivotal LUNAR trial of Tumor Treating Fields (TTFields) in stage 4 non-small cell lung cancer (NSCLC) following platinum failure)
- RIGL +17.2% (announced positive topline results from a hase 2 clinical trial to evaluate the safety of fostamatinib for the treatment of hospitalized patients with COVID-19) VTVT +16.3% (announces that the U.S. Food and Drug Administration has granted Breakthrough Therapy designation for TTP399 as an adjunctive therapy to insulin for the treatment of type 1 diabetes)
- EVGN +10.5% (announced additional positive pre-clinical results in its immuno-oncology program demonstrating efficacy of its live biotherapeutic product (LBP) consortium BMC128, this time in melanoma)
- CERE +9.7% (announces an up to $125 mln non-dilutive financing transaction with NovaQuest and Bain Capital to fund the full Phase 3 development program for Tavapadon in Parkinson's disease)
- AGC +9.5% (Grab to go pubic through partnership with AGC)
- RILY +8.4% (to join S&P SmallCap 600)
- ZLAB +7.8% (Zai Lab and Novocure (NVCR) announce an update regarding its phase 3 pivotal LUNAR trial of Tumor Treating Fields in stage 4 non-small cell lung cancer following platinum failure)
- MRNA +7.3% (benefitting following JNJ vaccine news)
- CDLX +6.1% (announces its intent to acquire Bridg for approximately $350 mln)
- ANGI +4.4% (reports monthly metrics for March)
- DMRC +3.7% (CEO to retire, names replacement)
- IMCR +3.6% (presents data from Phase 3 trial for tebentafusp)
- PFE +1.4% (benefitting following JNJ vaccine news)
Analyst comments:
- SUPN +3.7% (upgraded to Buy from Hold at Jefferies)
- IHRT +3.5% (upgraded to Buy from Underperform at BofA Securities)
- COMM +3.4% (upgraded to Buy from Hold at Deutsche Bank)
- MOS +1.7% (upgraded to Buy from Hold at Berenberg)
- FDX +1% (upgraded to Overweight from Sector Weight at KeyBanc Capital Markets)
Credit Suisse counts $1.2bn exposure to Sanjeev Gupta’s steel empire
Swiss lender promises legal action to protect investors’ interests
Credit Suisse’s suspended supply-chain finance funds had $1.2bn of exposure to Sanjeev Gupta’s steel empire, the bank disclosed for the first time on Tuesday, promising that it will consider legal action to protect investors’ interests.
The Swiss lender’s four supply-chain finance funds ran a total of $10bn of assets when they were frozen on March 1. Their suspension helped trigger the collapse of controversial supply-chain financing firm Greensill Capital and left Gupta’s GFG Alliance teetering on the brink of collapse.
As well as the $1.2bn exposure to GFG, Credit Suisse said its funds had $690m of exposure to Bluestone Resources, the coal mining business founded by West Virginia governor Jim Justice, and $440m of exposure to Katerra, a SoftBank-backed US construction group.
The three organisations account for $2.3bn of exposure out of the four supply-chain funds.
The Financial Times has previously reported that Credit Suisse heads had calculated the total losses from the supply-chain finance funds could be as high as $3bn but was more likely to be closer to $1bn and $1.5bn after some money is paid back, other assets are recovered in the courts and insurance pays out.
Credit Suisse’s asset management arm is in discussions with Greensill’s administrators, Grant Thornton, and is “engaging directly with potentially delinquent obligors and other creditors”, the bank said on Tuesday.
It added: “Credit Suisse Asset Management will consider appropriate legal actions to protect fund holders’ interests.”
Credit Suisse also announced it had collected $2bn from the funds’ creditors since the suspensions and was distributing $1.7bn to investors. That takes the total repayment to $4.8bn. More than 1,000 investors are trapped in the funds.
In addition to GFG, Bluestone and Katerra, other creditors are “dragging their heels” on repaying the Credit Suisse funds, a person briefed on the process of recovering the assets told the FT last month
Last week the FT reported that several loans to Liberty Commodities, part of GFG, were based on suspect invoices and that Credit Suisse executives were becoming increasingly concerned that their clients were victims of fraud.
Several European metals businesses told the FT last week that they had not carried out any business with Gupta’s groups, despite invoices linked to them being repackaged as notes by Greensill and sold to Credit Suisse investors.
GFG said last week that “many of Greensill’s financing arrangements with its clients, including with some of the companies in the GFG Alliance, were prospective receivables programmes, sometimes described as future receivables”.
Gupta has also denied that any of his debts to Greensill were due for repayment. It makes “no sense” for any creditors to “destroy jobs but more importantly to destroy value, because that is the value which will give them the recovery”, he said.
Bluestone was one of Greensill’s biggest clients and has said it is “not capable” of repaying the money it owes to the Credit Suisse funds.
Last month Justice, the 69-year-old businessman and Republican politician, launched legal action against Greensill in Manhattan federal court, alleging his coal mining empire was under threat because of its “sudden and unjustified abandonment” by the financing firm.
Credit Suisse executives do not expect to receive up to $440m lent to Katerra. SoftBank pumped money into Greensill last year to cover debts at Katerra, but it did not reach the Credit Suisse funds, the FT reported last month.
Meanwhile on Tuesday influential proxy adviser Glass Lewis advised Credit Suisse shareholders to vote against the re-election of director Andreas Gottschling, who has served as chair of the board’s risk committee since 2018, at the AGM on April 30.
Glass Lewis said the supply-chain finance suspensions and separate losses involving family office Archegos “cast significant doubt on the efficacy of the board’s oversight of the company’s risk and control framework”.
It added: “Shareholders would be warranted to also attribute accountability to the board’s risk committee. As chair of this committee, we believe that nominee Andreas Gottschling holds ultimate accountability at board level.”
Gapping down
In reaction to earnings/guidance:
- FAST -3.5%, SLP -1.6%
Other news:
- ATXI -16.3% (states FDA still reviewing NDA resubmission for IV Tramadol)
- FBIO -10.8% (stock offering)
- BALY -3.8% (to purchase the Tropicana Las Vegas, Nevada casino from Gaming and Leisure Properties (GLPI))
- GFL -3.5% (files for $2 bln mixed securities shelf offering)
- NI -3.4% (files for 7.5 mln equity unit offering)
- AMRN -2.6% (CEO to retire)
- JNJ -2.5% (FDA and CDC confirms it recommended pause in the use of JNJ vaccine after 6 reported US cases of rare & severe type of blood clot in individuals after receiving the vaccine. As of 4/12, 6.8 mln doses of the J&J vaccine have been administered)
- EPRT -2% (prices offering of 7.15 mln shares of common stock at $23.50 per share)
Analyst comments:
- LHDX -10% (downgraded to Underperform from Neutral at BofA Securities; tgt $9)
- APHA -5.3% (downgraded to Hold from Speculative Buy at Canaccord Genuity)
EXCLUSIVE-Italy to spend 60% more of EU funds on better broadband, sources say - Reuters News
13-Apr-2021 13:51:46
ROME, April 13 (Reuters) - Italy aims to spend almost 7 billion euros ($8.33 billion) in European recovery funds on ultra-fast networks, up 60% from a previous goal, as ministers lay out alternatives to a long-delayed single national broadband plan, sources told Reuters.
The government of Mario Draghi, which took office in February, is revising a national Recovery and Resilience Plan (RRP) that would entitle it to some 206 billion euros by 2026 from an EU programme to help nations hardest hit by the novel coronavirus.
Two sources close to the matter told Reuters Rome planned to raise the amount spent on broadband, 5G and satellite infrastructure to 6.7 billion euros from 4.2 billion euros earmarked in January by the previous government.
The total funds for boosting digitalisation amount to some 49 billion euros, up from a previous 46.3 billion euros, including investments in public administration and grants for small and medium-sized companies, one of the sources added on condition of anonymity.
Italy ranked fourth to last in the European Union for digital competitiveness in 2019, the Digital Economy and Society Index (DESI) compiled by the European Commission found.
The government is also devising alternatives to a previous plan to merge the fixed-line access network of former monopoly Telecom Italia (TIM) TLIT.MI with those of smaller rival Open Fiber, the sources said.
Talks between the two have stalled over disagreements around governance and the value of the assets to be folded in the new operator. (Full Story)
Open Fiber is jointly controlled by Italy's biggest utility Enel ENEI.MI and state lender Cassa Depositi e Prestiti (CDP). CDP is TIM's No. 2 shareholder behind France's Vivendi VIV.PA
TIM has repeatedly said it would not agree to owning less than 50% of any combined entity - something that could trigger regulatory issues.
Draghi's ministers are discussing an alternative plan to use EU funds to roll out fast broadband networks across Italy's 20 regions using the best technologies available, including Fixed Wireless Access (FWA) systems, the sources said.
Such a scheme - championed by Innovation Minister Vittorio Colao - includes bonuses to help consumers pay ultrafast connection fees.
The government is also studying a less ambitious plan to merge Open Fiber with Fibercop, a vehicle controlled by TIM that runs the group's secondary network going from street cabinets to homes, a third source said.
Under this project, TIM would not fold its primary network - connecting switching centres to street cabinets - into the venture, preventing the former phone monopoly having a majority stake.
Both options under discussion leave the door open to co-investment schemes allowing operators to build their own networks in some areas and have commercial agreements elsewhere.
Early premarket gappers
- Gapping up:
- AGC +10.3%, DMRC +9.7%, RILY +8.6%, HLIT +4.1%, IMCR +3.6%, AMRN +2.6%, AB +0.6%, EGO +0.4%, VNOM +0.4%, IVZ +0.4%, IAC +0.4%
- Gapping down:
- FBIO -15%, NI -5.1%, GFL -3.5%, AL -2.6%, EPRT -1.9%, BEN -1.6%, SLP -1.6%