South African entrepreneur Elon Musk, who is the founder and CEO of electric car manufacturing behemoth Tesla, has been forced to stepdown as chairman of the company - and ordered to pay $20 million after reaching an agreement with the SEC.

NEXT Biometrics Group ASA, which is headquartered in Oslo, Norway, has formally announced that it has raised 156 million Norwegian Krone ($18.7 million US) in gross proceeds accumulated through a Private Placement which consisted of 1,167,000 new shares following the close of markets yesterday.

Global ride-hailing firm Uber has projected a more measured valuation ahead of its IPO debut on the New York Stock Exchange later this week.

The global movement towards the mass deployment of autonomous and electric vehicles was once again criticized following the fatal collision involving an electric Tesla Model X vehicle in the US.

As they say, the third time is a charm! T-Mobile and Sprint tell us they have entered into a definitive agreement to merge in an all-stock transaction at a fixed exchange ratio of 0.10256 T-Mobile shares for each Sprint share or the equivalent of 9.75 Sprint shares for each T-Mobile US share. Based on closing share prices on April 27, this represents a total implied enterprise value of approximately $59 billion for Sprint and approximately $146 billion for the combined company. The new company will have a strong closing balance sheet and a fully funded business plan with a strong foundation of secured investment grade debt at close.