Musk's lawsuit.

Tesla CEO Elon Musk is scheduled to take the stand this week to defend his $56 billion pay package against shareholder allegations it was rigged with easy performance targets and that investors were duped into approving it. A Tesla shareholder hopes to prove during the five-day trial that Musk used his dominance over the electric vehicle maker's board to dictate terms of the 2018 package, which did not even require him to work at Tesla full time. They argued the pay package did what it aimed to do -- ensure the entrepreneur successfully guided Tesla through a critical period which helped drive the stock 10-fold higher. The Tesla shareholder lawsuit argues that the pay package should have required Musk to work full time at Tesla.

While he owned only 21.9% of Tesla in 2018, plaintiffs are likely to cite his domineering personality and ties to directors. Monday's testimony is expected to begin with Ira Ehrenpreis, a Tesla director since 2007. The disputed package allows Musk to buy 1% of Tesla's stock at a deep discount each time escalating performance and financial targets are met. Tesla has hit 11 of the 12 targets as its value ballooned briefly to more than $1 trillion from $50 billion, according to court papers.

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Cloud Bookkeeping

US FED rate rise.

The US Federal Reserve officials have indicated that they plan to resume increasing interest rates to control inflation in the world's biggest economy. During the June meeting, the Federal Open Market Committee reached a consensus to keep interest rates stable for the time being to evaluate whether further tightening of policy would be necessary. However, the majority of the committee anticipates that additional rate increases will be required in the future. The minutes of the meeting have recently been made public. According to the minutes, most participants believed maintaining the federal funds rate at 5 to 5.25 per cent was appropriate or acceptable, despite some individuals wanting to raise the acceleration due to slow progress in cooling inflation. Although Fed forecasts predicted a mild recession starting later in the year, policymakers faced challenges in interpreting data that showed a tight job market and only slight improvements in inflation. Additionally, officials gr...

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