Business

Tesla announced a $2 billion stock offering to bolster its balance sheet, marking a shift from CEO Elon Musk's previous stance on raising capital. The company intends to use the proceeds for general corporate purposes, with Musk personally investing up to $10 million in the offering.

Japanese automaker Nissan has filed a $91 million civil lawsuit against ex-chairman Carlos Ghosn, alleging years of financial misconduct including understating income, misusing corporate assets, and diverting company funds for personal use. The lawsuit aims to recover significant monetary damages caused by Ghosn's fraudulent activities.

Several contractors involved in the Grenfell Tower refurbishment are set to appear in court on possible fraud and conspiracy charges. The public inquiry, led by Sir Martin Moore-Bick, will examine issues surrounding the marketing of combustible cladding that contributed to the tragic fire in 2017, which resulted in 72 deaths.

Ola, an Indian ridesharing giant, has launched operations in London after receiving a 15-month license. The company recruited 20,000 drivers and plans to take zero commission initially. With safety features like a panic button and route tracking, Ola aims to provide reliable transportation services in the UK market.

The coronavirus pandemic has devastated Hong Kong's economy more severely than the six-month anti-government protests. Financial analysts report significant negative impacts on tourism, trading, and retail sectors, with international brands like Burberry experiencing dramatic business disruptions due to consumer fears and market closures.

Federal prosecutors have indicted Reinaldo and Jean Wilson, owners of Advantage Choice Care and Tele Medcare, for a $56 million healthcare fraud scheme. The couple allegedly accepted bribes from medical firms and recruited healthcare providers to order medically unnecessary orthotic braces for Medicare beneficiaries across multiple locations.

Japanese gaming company Nintendo confirms coronavirus impact on product manufacturing, with potential delays for Nintendo Switch consoles and Joy-Con peripherals produced in China by Foxconn, and limited availability of Ring Fit Adventure game due to supply chain disruptions.

Airbnb has implemented strict booking rules preventing individuals under 25 from renting entire properties in Canada following a fatal incident in Toronto. The blanket policy affects young, law-abiding citizens and has drawn criticism from analysts who suggest the company should focus on improving security measures instead of implementing broad age-based restrictions.

International law firm Appleby faced intense scrutiny after the 2017 Paradise Papers leak, which exposed 13.4 million confidential documents detailing offshore financial activities of wealthy and influential individuals worldwide, highlighting potential regulatory failures in terrorist financing and money laundering prevention.

Mike Lynch, former Autonomy CEO, was arrested over fraud charges related to the company's sale to Hewlett-Packard. Prosecutors allege Lynch and executives inflated profits for three years, causing HP to overpay £8.4bn for the software company, leading to a significant write-down and potential criminal prosecution.