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Tesla Raises $1.2B to Bolster Model 3

Tesla has sold $1.2 billion in common shares and convertible senior notes to support the roll-out of the Model 3, the Palo Alto company announced.

Element Increased Operating Income 45% in 2016

Element Fleet Management increased operating income 45% and increased service and other revenue to 55% of total revenue in 2016, due in large part to its part to its acquisition-oriented growth strategy, the company announced.

Element Financial Closes $4.8B in Funding

Toronto-based Element Financial Corp. has closed $4.8 billion in rated asset-backed security funding that will fuel the company's aggressive move into the U.S. fleet management business.

Element to Acquire GE Capital's Fleet Business

Toronto-based Element Financial Corp. has entered an agreement with General Electric to acquire GE Capital's fleet business in the U.S., Mexico, Australia and New Zealand for $6.9 billion.

GE to Sell Fleet Management Unit by 2018

General Electric will sell off its fleet management and automotive financing business units by 2018 under a strategic plan to focus on its core businesses and shed most of its finance and banking businesses, the company has announced.