Bloomberg

If bank error is not in your favor: Pay back $500 million

• Citigroup Inc C won a $500 million recovery appeal that was accidentally sent to a group of people in 2020 Revlon Inc rev Creditor.
• In August 2020, Citi accidentally wired $900 million to a group of Revlon creditors. The actual operation was to send interest payments to Revlon creditors, but instead the bank sent a payment for the entire loan.
• Some creditors returned the false sum of about $400 million, while others refused, citing “value relief.”

Reuters

Elon Musk and his companies continue to embroil themselves in the Dogecoin blackmail

• The lawsuit against Tesla Inc TSLA chairman Elon Musk which accuses him and his electric car company of extortion has reportedly been expanded.
• The $258 billion lawsuit has expanded to include seven new investor plaintiffs and six new defendants, including his tunneling company Boring Co
• So far, SpaceXa space exploration company that has also been dubbed Musk bosses.

Tesla is planning a lithium refinery in Texas to meet rising demand for electric vehicles

• Tesla Inc TSLA studied setting up a lithium refinery on the Texas Gulf Coast to ensure its supply in the face of increasing demand for electric vehicles.
• Tesla’s decision to invest in Texas will also depend on the possibility of receiving local property tax relief.
• CEO Elon Musk has previously raised the possibility that Tesla may need to jump straight into the mining and refining industries if lithium prices rise.
• If approved, construction could begin in the fourth quarter of 2022 and reach commercial production by the end of 2024.

Airbus cancels remaining Qatar A350 orders

• Airbus SE EASY canceled all of Qatar Airways’ remaining A350 orders, increasing safety and contract dispute with the Gulf airline.
• Airbus said it booked orders for 843 jets between January and August, or 637 total after cancellations, including routine order cancellations by…