News in Short: Panasonic invests $30 million in Telsa, Manitoba Telecom’s profit skyrockets

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Panasonic invests $30 million in Telsa

Panasonic recently invested $30 million in Telsa Motors in exchange for a two percent stake.

Panasonic and Tesla have worked together previously, but under the new partnership they will collaborate on development and marketing of new Tesla battery packs featuring Panasonic lithium-ion cells.

“Panasonic offers the highest energy-density cells and industry-leading performance with cutting edge Nickel-type cathode technology,” Tesla CEO Elon Musk, who has Canadian roots, said in a statement this week. “We believe our partnership with them will enable us to further improve our battery pack while reducing cost.”

Manitoba Telecom’s profit skyrockets

Manitoba Telecom Services Inc., once part of BCE’s group of telecos, saw $43 million in profit in the third quarter of this year, up more than 50 per cent from a year before. The profit boost was largely due to it receiving a one-time settlement payment from a regulatory decision: it received a $10-million cash payment from BCE’s Bell Mobility as part of a comprehensive settlement agreement between the companies.

However, non-sustainable bonuses aside, profits and revenues were both down.