Tesla names Telstra exec Robyn Denholm as chair

Tesla said Denholm will be serving as Tesla chair on a full-time basis. (File/AFP)
Updated 08 November 2018
0

Tesla names Telstra exec Robyn Denholm as chair

  • Robyn Denholm will leave her role as CFO and head of strategy of Telstra once her six-month notice period with the company is complete
  • Tesla said Denholm will be serving as Tesla chair on a full-time basis

Electric carmaker Tesla Inc. said Robyn Denholm, currently CFO at Australian telecoms operator Telstra Corp. Ltd, will replace Elon Musk as its chair.
Denholm will leave her role as CFO and head of strategy of Telstra once her six-month notice period with the company is complete, Tesla said late on Wednesday.
Tesla said Denholm will be serving as Tesla chair on a full-time basis.
She will temporarily step down as Chair of Tesla’s Audit Committee until she leaves Telstra, the company said.
Tesla weathered a rocky few months in the wake of Musk’s tweets that he had “funding secured” for a deal, later scuttled, to take Tesla private. Musk and Tesla settled with the US SEC in September after the agency sued for fraud.
The settlement required Tesla and Musk to pay a fine of $20 million each and for Musk to give up his chairman role for three years.


OECD warns of global economic slowdown

Updated 21 November 2018
0

OECD warns of global economic slowdown

  • ‘We urge policy-makers to help restore confidence in the international rules-based trading system’
  • Trade tensions have already shaved 0.1-0.2 percentage points off global GDP this year

PARIS: The global economy has peaked and faces a slowdown driven by international trade tensions and tighter monetary conditions, the Organization for Economic Cooperation and Development warned Wednesday.
The OECD, which groups the top developed economies, said it had trimmed its growth forecast for 2019 to 3.5 percent from the previous 3.7 percent.
The 2018 estimate was left unchanged at 3.7 percent.
For 2020, the global economy should grow 3.5 percent, it said in its latest Economic Outlook report.
“The shakier outlook in 2019 reflects deteriorating prospects, principally in emerging markets such as Turkey, Argentina and Brazil,” it said.
“The further slowdown in 2020 is more a reflection of developments in advanced economies as slower trade and lower fiscal and monetary support take their toll.”
OECD chief Angel Gurria highlighted problems caused by trade conflicts and political uncertainty — an apparent reference to US President Donald Trump’s stand-off with China which has roiled the markets.
“We urge policy-makers to help restore confidence in the international rules-based trading system,” Gurria said in a statement.
Trade tensions have already shaved 0.1-0.2 percentage points off global GDP this year, the Economic Outlook report said.
If Washington were to hike tariffs to 25 percent on all Chinese imports — as Trump has threatened to do — world economic growth could fall to close to three percent in 2020.
Growth rates would drop by an estimated 0.8 percent in the US and by 0.6 percent in China, it added.
For the moment, the OECD puts US economic growth at 2.9 percent this year and 2.7 percent in 2019, unchanged from previous estimates, but trimmed China by 0.1 percentage point each to 6.6 percent and 6.3 percent.
It warned that “a much sharper slowdown in Chinese growth would damage global growth significantly, particularly if it were to hit financial market confidence.”
Laurence Boone, OECD Chief Economist, said “There are few indications at present that the slowdown will be more severe than projected. But the risks are high enough to raise the alarm and prepare for any storms ahead.”