Who Gains from Elon Musk’s Visit to China?
Summary
Heavily subsidized Chinese rivals are eating into sales, led by the Warren Buffett-backed BYD, which is vying with Tesla for the crown of world’s biggest E.V. The Dutch company’s stock jumped 45 percent on Monday after it set aside about €982 million ($1 billion) to cover costs tied to U.S. claims over faulty sleep apnea devices. A Skydance deal could personally net Redstone, who controls Paramount via the holding company National Amusements, a substantial premium for her stake, including more than $2 billion in cash. That could invite extra legal scrutiny of a deal that’s already come under fire from several large investors who are pushing Paramount to consider a previously rejected all-cash approach from the private equity giant Apollo. Paramount’s financial footing is also in focus, with the company set to announce earnings on Monday as questions loom about the status of its pivotal cable deal with Charter, and investors clamoring for progress on its streaming ambitions.