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Tesla Directors Get Softer Support, Shareholder Proposal Gains Traction

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Electric carmaker Tesla Inc on Wednesday reported lower support than usual for two directors at its recent shareholder meeting, and greater support for a call to review the company’s use of mandatory arbitration after a court decision in favor of a temporary employee who accused Tesla of racial discrimination .

The votes indicated growing shareholder dissatisfaction at the company.

In a securities filing Tesla said support for a shareholder resolution on how it handles arbitration matters rose to 46% of votes cast at its annual meeting last week, from 27% for a similar proposal in 2020. Both directors up for election this year also received less support than any did last year.

The nonbinding resolution on arbitration had asked Tesla’s board to study the impact of its use of mandatory arbitration to resolve workplace complaints of harassment and discrimination. The issue drew more focus after a jury award of $137 million to a Tesla contract worker last week over workplace racism.

Tesla had opposed the resolution, arguing that arbitration can benefit both parties of a dispute. The company did not immediately comment on the shareholder vote.

Other technology companies have scaled back or eliminated mandatory arbitration including Uber Technologies Inc and Google parent Alphabet Inc. In April, nearly half of Goldman Sachs Group Inc shareholders voted in favor of examining the bank’s use of mandatory arbitration.

Kristin Hull, CEO of Nia Impact Capital who filed the resolution, called the higher support this year “a huge improvement as we educate folks on why this matters for building an innovative team with a diverse and inclusive company culture.”

Tesla CEO Elon Musk owns 23% of Tesla’s shares, according to its proxy statement, meaning the measure would have passed aside from his votes, Hull said.

Another measure tied to racial issues won a majority of support, with 57% of votes cast. Filed by Calvert Research and Management the measure asked Tesla to report in detail on its diversity and inclusion efforts. Tesla had opposed the measure, citing current and future reporting plans.

Wednesday’s filing showed among the two company directors up for re-election last week, James Murdoch received support from 70% of votes cast, and Kimbal Musk, Elon Musk’s brother, received support from 80% of votes cast.

Directors at large US companies typically receive 90% support or more. At Tesla, “the director nominees in question should do some heavy thinking about the quality of their oversight and how they/the company can better communicate that to the market,” said corporate governance consultant Francis Byrd of Alchemy Strategies Partners.

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By writing ‘Hi’ on WhatsApp, you will get a loan of up to Rs 10 lakh in 10 minutes, apply like this

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Non-banking financial company India Infolite (IIFL) has started a great scheme for those who want to start or pursue a business, in which any person can apply for a loan of up to Rs 10 lakh through WhatsApp and his The application will be completed in 10 minutes. For the first time any company in India is providing such facility. How to get loan through WhatsApp? How to avail or apply for IIFL loan scheme? Let us know the answers to these questions

IIFL is a Non-Banking Financial Company (NBFC). Many types of facilities are provided within this group. The company has already been providing home loan facility and has launched a new business loan scheme, in which any person can apply for a loan up to Rs 10 lakh through WhatsApp and his application is approved within 10 minutes. Will go The company claims that minimum documents will be required to apply for the loan. IIFL will use Artificial Intelligence (AI) for this loan, which will verify the details of the person applying for the loan. For the loan, the KYC of the first person will be completed and his bank account will also be verified.

IIFL has informed through a press release that in the new scheme, one can apply for loans ranging from Rs 10,000 to Rs 10 lakh, which will get a repayment period of up to 5 years (60 months). As we mentioned, the loan will be approved in 10 minutes, however the loan amount will be transferred to the bank account within 24 hours.

To take the loan, you have to send Hi message through WhatsApp on 9019702184. After this you will get a welcome message from the company. You can apply for the loan by following the steps mentioned here. Explain that you will be asked the name of the person applying for the loan, whether he has his own business or runs in partnership, how long is the business running, how much is the turnover of the business, etc. After this the credit history of the person will also be checked.

After checking all the details, the loan amount will be offered to that person by IIFL. In this, information about the loan amount, interest and monthly installment will be given. After the person selects this amount, he will have to give his bank account information, after which the amount will be sent to his account. According to the company, the annual interest of the loan will be between 16% to 30% and in addition 3% of the total loan (GST exclusive) will be charged as loan processing charge. There will be some other charges as well, about which you can visit this page for more details.

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Shareholder Support Rises For Arbitration Review At Tesla

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Automaker Tesla Inc on Wednesday said in a securities filing that support for a shareholder resolution on how it handles arbitration matters rose to 46% of votes cast at its annual meeting last week, up from 27% for a similar proposal in 2020.

The nonbinding resolution had asked Tesla’s board to study the impact of its use of mandatory arbitration to resolve workplace complaints of harassment and discrimination. The issue drew more focus after a jury award of $137 million to a Tesla contract worker last week over workplace racism.

Tesla had opposed the resolution, arguing that arbitration can benefit both parties of a dispute. The company did not immediately comment on the shareholder vote.

Kristin Hull, CEO of Nia Impact Capital who filed the resolution, called the higher support this year “a huge improvement as we educate folks on why this matters for building an innovative team with a diverse and inclusive company culture.”

Tesla CEO Elon Musk owns 23% of Tesla’s shares, according to its proxy statement, meaning the measure would have passed aside from his votes, Hull said.

Wednesday’s filing showed among the two company directors up for re-election last week, James Murdoch received support from 70% of votes cast, and Kimbal Musk, Elon Musk’s brother, received support from 80% of votes cast.

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Oppo K9s phone will be launched soon with 120Hz display!

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Oppo K9s will be the company’s upcoming smartphone, the information of which has been revealed in the latest report. The report gives information about the key specifications related to the upcoming smartphone. Apart from this, it has been reported that this phone will knock in three color options. It can be guessed from the leak that this phone can be launched in China first. Let us tell you, the company launched the Oppo K9 Pro smartphone in China last month, while the Oppo K9 5G smartphone was launched in May. The Oppo K9S phone could be the third phone in the Oppo K9 series.

Chinese tipster WHY LAB has shared some posters. In these posters, a smartphone can be seen with the Oppo K9s moniker. Along with this, information about the specifications of the phone is also present in these posters. The Oppo K9s phone will reportedly come with a 120Hz display. It will be powered by the Snapdragon 778G processor, along with an X-axis linear motor to deliver enhanced 4G in-game vibration. Three color options can be found in the phone, they will be Black, Silver and Purple.

According to a Gizmochina report, this phone was recently listed with the model number PERM10, which revealed other specifications of the phone. According to the report, this phone will work on Android 11. It will get a 6.59-inch full-HD display, which will have a resolution of 1080 x 2412 pixels. Apart from this, the phone will be equipped with Snapdragon 778G processor, with which up to 12 GB of RAM and up to 256 GB of storage can be available.

For photography, a triple rear camera setup can be given in the phone, whose primary camera will be 64 megapixels, 8 megapixel secondary camera and 2 megapixel third camera. The battery of the phone can be 4,880 mAh.

Let us tell you, the company launched the Oppo K9 Pro smartphone in China last month, while the Oppo K9 5G smartphone was launched in May. The Oppo K9S phone could be the third phone in the Oppo K9 series.


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