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Tesla CEO Musk suggests India entry in 2021

Tesla Inc chief executive Elon Musk indicated on Friday that the US electric carmaker will make a foray into India in 2021.

"Next year for sure," Musk said on Twitter in reply to a post with a photograph of a T-shirt with the message: "India wants Tesla".


"Thanks for waiting," Musk said.

Tesla's entry could come at a time when prime minister Narendra Modi is increasingly becoming focussed on promoting the use and manufacture of electric vehicles.

India's auto sector, already reeling from a slowdown in demand last year, has been further hit by the novel coronavirus pandemic and carmakers are seeking government support to push sales.

Musk commented last year about coming to India, in response to someone on Twitter who asked "What about India sir?".

"Would love to be there this year. If not, definitely next!" he said in March 2019.

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Debenhams executive pay

Debenhams said it expects annual adjusted core profit to be ahead of last year

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Frasers slams Debenhams over £222 million pay scheme

Highlights

  • Debenhams pushes ahead with executive pay scheme worth up to £222 m without shareholder approval.
  • CEO Dan Finley could earn up to £148 m if share price reaches £3 over next five years.
  • Frasers Group, holding 29.7 per cent stake, calls move "utterly disgraceful" amid long-running corporate tussle.
Struggling British online fashion retailer Debenhams has sparked outrage from its biggest investor after deciding to implement a new executive pay scheme worth up to £222 million without seeking shareholder approval.

Frasers Group, which holds a 29.7 percent stake in Debenhams, condemned the move through its chief financial officer Chris Wootton on Thursday. "Typical corporate governance from them, utterly disgraceful," Wootton said, criticising the retailer's decision to bypass investors.

Under the new incentive scheme, Debenhams CEO Dan Finley could earn up to £148 m and CFO Phil Ellis up to £14.8 m if the company's share price hits £3 over the next five years. Debenhams shares were trading at 22.25 pence on Thursday, down 3.3 percent.

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