Accused by Tesla Inc Chief Executive Elon Musk of making "excessive profit" by lending shares to short-sellers, top index fund companies shot back on Friday that they are only looking out for their investors.
Major world stock markets sank for a second straight day on Friday after strong U.S. jobs numbers signaled a continued tightening of the labor market and increased inflation pressures, while Treasury yields rose again to multi-year highs.
The U.S. transportation sector, which many see as a proxy indicator of the economy's health, has retreated 3.1 percent from its Sept. 14 record, hinting to some analysts that the longest bull market on record has entered its late stages.
Hedge fund manager David Einhorn lambasted Tesla Inc and its "despondent" Chief Executive Elon Musk on Friday, comparing the electric car company to Lehman Brothers Holdings Inc, where he had flagged accounting problems several months before its 2008 collapse.
Shares of Tesla Inc fell 7 percent on Friday after David Einhorn's hedge fund Greenlight Capital slammed the electric carmaker, adding to losses sparked by CEO Elon Musk mocking the U.S. Securities and Exchange Commission on Twitter.
Saudi Arabia's crown prince insisted the stalled plan to sell shares in oil giant Aramco will go ahead, promising an initial public offering by 2021 and sticking to his ambitious view the state-run company is worth $2 trillion or more, Bloomberg reported on Friday.
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