US producer prices slide as inflationary pressures ease; UK housing market weakens – as it happened

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• Housebuilder Crest Nicholson slides into loss amid UK property market woes
• Should Tesla pay Elon Musk $45bn? The shareholders will decide

Shares in Tesla are rallying in pre-market trading, after Elon Musk posted that shareholders are voting in favour of his $56bn pay award.

They're up around 6.6% at $189, which would recover some of their 28% fall so far this year (they began January near $250).

A crunch vote on Elon Musk's pay at Tesla's AGM later could either provide a further catalyst for the share price to stall or remove an overhang and allow the shares to power up once more.

Musk, no stranger to controversy, has gone on record as saying his blockbuster pay package will pass by a wide margin but there has been considerable disquiet about its size relative to the recent performance of Tesla. He also says the move to incorporate the business in Texas, linked to the renumeration issue, will get through.