Bloomberg Daybreak: Asia Edition
Tesla's Annual General Meeting, Bank of Japan Preview
Jun 14, 2024
Bloomberg Daybreak: Asia Edition features Dana Hull on Tesla's AGM, discussing Musk's compensation and potential HQ move. Willem Sels talks about a new stock exchange in Dallas and growth concerns. Taro Kimura analyzes rate cuts, equity strategy shifts, and the Bank of Japan's potential policy changes.
24:10
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Quick takeaways
- Tesla's AGM outcomes include approval of Musk's compensation package and relocation to Texas for potential benefits in reinstating the plan.
- HSBC's Global CIO discusses a potential Fed rate cut amidst a moderate global economic growth phase, advising investment diversification; BoJ aims for gradual policy normalization.
Deep dives
Shareholder Approval of Elon Musk's Compensation Package and Move to Texas
Shareholders of Tesla voted in favor of Elon Musk's compensation package, marked around $48.4 billion, and the company's move of incorporation from Delaware to Texas. The previous compensation plan was nullified by a judge in Delaware, leading to the re-vote. Musk's success in meeting ambitious targets was a point of discussion, with his potential receipt of the package being a point of contention. Moving the legal home to Texas could offer more favorable conditions for reinstating the plan.
