News Now: Tesla is worth $620,000 per car; Google's making minivans cool...

That's a lot of Model 3s: Tesla's market cap is currently about $31 billion—which is about $620,000 for each car the company sold in 2015. (By comparison, GM's value is about $4,800 for each car sold last year.) Keep this in the back of your brain when the company reports earnings today after the bell: Tesla is expected to widen its quarterly loss, but sales are expected to jump nearly 50%. 

Even Silicon Valley can't get funding. Silicon Valley has slid below New York and San Francisco on the list of metro areas receiving VC funding. San Francisco received $21 billion in funding in 2015—while the greater San Jose area got $6.2 billion. And New York ekes out the number-two slot with $7 billion. This isn't a new trend—the last time more VC money went to companies in San Jose compared to SF was 2004. "Over the past five years, what was a smallish gap in VC investment between the two areas has widened into a $15 billion chasm," Bloomberg explains.

The hippest minivan ever? After whisperings and rumors, it turns out Google (er, Alphabet) and Fiat Chrysler are partnering on a self-driving car—or at least a test. The two companies are joining forces to create 100 autonomous minivans next year, allowing Google to test its driving system on a bigger vehicle. The testers will join 70 other autos in Alphabet's arsenal, including Lexus SUVs and those adorable, tiny Google-made cars.

Remember Aéropostale? To the dismay of California teens in the early 2000s, Aéropostale has filed for Chapter 11 bankruptcy. The teen retailer will close 113 stores in the US and all 41 in Canada. It's been a rough few years for these once-cool chains: QuikSilver, PacSun, and Wet Seal have all recently sought bankruptcy as well. "Aeropostale will likely emerge from Chapter 11 as a leaner entity with a smaller, but largely profitable, store base...but it does not solve the issue of relevance to the market," Neil Saunders, research chief at Conlumino, told Reuters.

Big banks settle rate-rigging case: Seven major banks—Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, JPMorgan Chase, and Royal Bank of Scotland—have settled a lawsuit accusing them of rigging an interest rate benchmark. The banks will pay a combined $324 million for the settlement, although another seven banks haven't yet agreed to settle. The lawsuit is one of several in the Manhattan federal court accusing banks of rigging various rates, benchmarks, and prices.

Cover Photo: INDIANAPOLIS, IN - MAY 03: With his family by his side, Republican presidential candidate Sen. Ted Cruz (R-TX) speaks during his election night watch party at the Crowne Plaza Downtown Union Station where he announced he was suspending his bid for the Republican presidential nomination on May 3, 2016 in Indianapolis, Indiana. (Photo by Scott Olson/Getty Images)