Stoked News – News, Videos, surf, skateboard, snowboard, motorsports, action sports » Business news
buy tb-500

Archive for the ‘Business news’ Category

The FIA Formula One World Championship has been the most premier form of motor racing around the globe since its inception in 1950. It’s every racing car drivers’ dream to achieve this ultimate title – “Formula One Drivers’ World Championship” and get their names marked in the history of the sport.

It’s truly the sport of kings, where ultra-rich teams build expensive cars every year, race in extreme conditions, and receive huge payouts. The celebrities flocking around the paddock and in the pit garage’s, noise from these cars, champagne flowing like water are all a part of the race weekend, no wonder it is also one of the most glamorous sport in the world.

The estimated turnover for Formula One 2017 season was  …  More

Stoked News

BILLABONG investors have voted overwhelmingly to sell the iconic Gold Coast brand to the US-based owners of Quiksilver, Roxy and DC Shoes for $210 million.

The deal was struck after Boardriders increased its $1 a share offer to $1.05 a share just minutes before a vote meeting was due to get underway at Billabong’s Gold Coast headquarters on Wednesday.

In their statement to the ASX, the Burleigh-born company said   …  More

Stoked News

Struggling surfwear icon Billabong has warned it cannot carry on business as usual if a takeover by the owner of rival Quiksilver does not proceed, as the company reported worsening revenue and net loss for the first half of the year.

Billabong posted a net loss of A$18.4 million ($20m) for the six months to December 31, worse than A$13m a year earlier, while revenue declined seven per cent to A$476.4 million.

The company reiterated it expects   …  More

Stoked News

Tesla isn’t even present at this year’s Detroit show—typical for a company that shuns the traditions of the hidebound auto industry. But it’s a topic of conversation nonetheless, as industry insiders speculate over whether the company can iron out manufacturing snafus that have marred the launch of its first mainstream vehicle, the Model 3 sedan. Tesla desperately needs the cash flow from vigorous Model 3 sales, yet production has stalled due to problems with the big batteries that power all Tesla electrics.

“As somebody said about health care, production is complicated,” Rebecca Lindland of Cox Automotive said during a presentation for journalists at the Detroit show. “Tesla has got to get Model 3 production figured out.”   …  More

Stoked News