Category: Bussiness

Tesla to shrink board to seven directors from 11

(Reuters) – Tesla Inc said on Friday that four members of its eleven-member board would be leaving over the next two years, as the electric car company looks to streamline its board. Brad Buss, Antonio Gracias, Stephen Jurvetson, and Linda Johnson Rice will not be standing for re-election in the upcoming annual meetings of stockholders […]

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SEC fines Prosper Funding $3 million for overstating net returns to investors

WASHINGTON (Reuters) – The Securities and Exchange Commission on Friday said Silicon Valley-based Prosper Funding LLC will pay a $3 million penalty for miscalculating and materially overstating annualized net returns to retail and other investors. The regulator said the online lending platform from around July 2015 until May 2017 excluded certain non-performing charged off loans […]

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U.S. housing starts approach two-year low; permits weak

WASHINGTON (Reuters) – U.S. homebuilding dropped to a near two-year low in March, pulled down by persistent weakness in the single-family housing segment, suggesting the housing market continued to struggle despite declining mortgage rates. Some of the weakness in homebuilding reported by the Commerce Department on Friday likely reflected disruptions caused by massive flooding in […]

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China will keep supporting economy as 'pressure' lingers: politburo

BEIJING (Reuters) – China will maintain policy support for the economy, which still faces “downward pressure” and difficulties after better-than-expected first quarter growth, the Communist Party’s top decision-making body said on Friday. The statement from the politburo came two days after China reported had steady 6.4 percent annual growth in January-March, defying expectations for a […]

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