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Tesla loses $126 bln in value amid Musk Twitter deal funding concern

13 Sept 09:23 Key points summarised by AI

Tesla's market value plummeted by $126 billion, fueled by investor concerns that CEO Elon Musk might sell company shares to fund his $21 billion equity contribution for the Twitter acquisition.
The 12.2% drop in Tesla shares directly mirrored the $21 billion cash commitment Musk made to the Twitter deal, intensifying fears about his potential stock sales and distraction from Tesla's operations.
Analysts noted a 'bear festival' on Tesla, exacerbated by a challenging tech market and concerns that a continued decline in Tesla's stock could jeopardize Musk's financing for the Twitter deal, including potential 'margin calls' on his loans.

Yesterday 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.