SolarCity Corp., the solar power provider led by billionaire Elon Musk, is betting prospects for clean energy and Musk’s name will help it garner a valuation 19 times the price of peers in an initial public offering.
Germany’s private banks plan to cut voluntary guarantees on consumer and investor deposits, drawing on the lesson from systemic crises such as the one triggered by the collapse of Lehman Brothers Holdings Inc.
Axa Rosenberg Group LLC’s co- founder Barr M. Rosenberg agreed to pay $2.5 million to settle claims by the U.S. Securities and Exchange Commission, which accused him of securities fraud for concealing a coding error in his firm’s investment model.
Vivint Inc., the home automation and security company that agreed last month to sell itself to Blackstone Group LP for $2 billion, is seeking to become the top U.S. installer of consumer rooftop solar systems in 2013, its chief executive officer said.
SolarCity Corp., a closely held developer of rooftop solar power systems backed by Google Inc. and Citigroup Inc., hired Robert Kelly as its chief financial officer, citing his experience at raising funds.