Tesla CEO Elon Musk has announced that the electric car maker is going to build a new vehicle factory, "Gigafactory 4," in the "Berlin area." 

The factory will be the company's first European-based production site.  Musk, in an awards ceremony in Germany, said the factory will be close to the city's new airport, adding "Berlin rocks."

In October, Reuters reported that the automaker is aiming to start production at its China 'gigafactory' despite uncertainties around orders, labor and suppliers.

British utility company SSE warned of challenges for energy firms should the Labour Party win next month's UK election. While the party's manifesto is yet to be released, Labour, led by Jeremy Corbyn, has repeatedly stated its intention to renationalize elements of the energy network. 

Announcing pre-tax profits of £263.4 million pounds ($338.35 million) for the six months ending 30 September, up from £229.4 m ($294.68 m), the company noted that it "continues to face a complex and challenging operating environment."

In a statement to the London Stock exchange SSE said "This (challenge) is illustrated by the uncertainty arising from the UK general election, the Labour party campaign for sector nationalization and public policy outcomes being the subject of judicial processes."

Despite the party's conference voting for the nationalization of the UK's 'big six' energy suppliers, Labour Shadow Chancellor John McDonnell told the Financial Times that the policy wouldn't be an initial priority for Labour. 

Shares in London-listed Tullow Oil fell after the company announced a cut in its 2019 oil production outlook due to problems at its Guyana sites. 

Recent analysis by the company showed the presence of heavy crude oil at two Tullow sites rather than the light crude prized by refiners. Following the news Tullow Oil's shares dropped by 20.7 percent. 

The firm now expects annual oil output to be 87,000 barrels of oil per day, down from an earlier forecast of 93,000.

Consumer goods giant Unilever named non-executive director Nils Andersen as its new chairman, replacing Marijn Dekkers who has decided to step down immediately. Unilever said Dekkers has "chosen to stand down" to concentrate on his company Novalis LifeSciences, which he founded in 2017.

The company will hope the change can kick start growth, at a time when India and China, two of the company's biggest markets, are showing signs of slowdown.

Unilever, which makes products including Marmite and Dove soaps, has been experiencing several years of change in the boardroom. Dekkers's departure follows that of former chief executive Paul Polman who retired at the end of 2018.