CHECKOUT COUNTER: Elon Musk drops private pursuit
Heeding shareholder concerns, Tesla boss Elon Musk says he will no longer pursue a deal to take the electric-car maker private
1. Musk drops private pursuit Heeding shareholder concerns, Tesla boss Elon Musk said last week that he will no longer pursue a deal to take the electric-car maker private. The idea, which was touted two weeks ago, stunned investors and drew regulatory scrutiny. Musk’s August 7 tweet that he wanted to take Tesla private at $420 a share sent the shares soaring before it became apparent he didn’t actually have any financing lined up. 2. Gap sales slow Gap Inc shares tumbled more than 8% last week after the apparel retailer’s namesake brand posted another bigger-than-expected drop in comparable sales for the second quarter, raising concerns about the unit’s turnaround plan. Comparable-store sales at the Gap brand fell 2.3%. 3. Nestlé in good health Demand is increasing for a Nestlé nutrition subscription programme in Japan. The programme, which can cost about $600 a year for capsules and other products, has consumers send in photos of their plates of food via a smartphone chat applicat...
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