Category: Business & Economy

LIVE UPDATES: Russia Cuts Off Gas, European Prices Spike

The latest on the Russia–Ukraine crisis, April 27. Click here for updates from April 26. Russia Cuts Off Gas, European Prices Spike European gas prices have spiked by as much as 24% following Gazprom’s statement that it was suspending deliveries to Poland and Bulgaria starting Wednesday because it hasn’t received any payments from them since…


LIVE UPDATES: Blasts Heard in Russia’s Belgorod, Nearby Ammunition Depot on Fire: Governor

The latest on the Russia–Ukraine crisis, April 27. Click here for updates from April 26. Blasts Heard in Russia’s Belgorod, Nearby Ammunition Depot on Fire: Governor A series of blasts was heard in the early hours of Wednesday in the Russian city Belgorod near the Ukrainian border, regional governor Vyacheslav Gladkov said, and an ammunition depot…


Australia’s Inflation Rate Jumps to 5.1 Percent, Highest Since Introduction of GST

Inflation in Australia has accelerated by 2.1 percent during the first quarter of the year, bringing the annual inflation rate to 5.1 percent. The Australian Bureau of Statistics (ABS) revealed that this was both the highest quarterly and annual consumer price index increase since the introduction of the goods and services tax (GST) in July…


Japan Pledges to Increase Financial Support for Ukraine

Japanese Prime Minister Fumio Kishida pledged Tuesday that he would increase financial support to Ukraine from $100 million to $300 million amid Russia’s ongoing aggression against Ukraine. Kishida conveyed to Ukrainian President Volodymyr Zelensky over the phone that Japan will increase financial aid and defense equipment supply, including protective masks and drones, at the request…


Texas Governor Wants Elon Musk to Bring Twitter Near Tesla, SpaceX in His State

Texas Gov. Greg Abbott on Monday threw at Tesla Inc. CEO Elon Musk an idea to shift Twitter Inc. headquarters to the second-largest U.S. state, where the billionaire entrepreneur’s other companies are already based. What Happened The 64-year-old Texas governor sent out a request on the microblogging site and tagged Musk in the post. .@elonmusk. Bring Twitter…


Microsoft Forecasts Double-Digit Revenue Growth on Cloud Strength

By Tiyashi Datta and Jane Lanhee Lee (Reuters) -Microsoft Corp on Tuesday forecast double-digit revenue growth for the next fiscal year, driven by demand for cloud computing services, and its shares jumped about 4%. Microsoft forecast Intelligent Cloud revenue of $21.1 billion to $21.35 billion for its fiscal fourth quarter, driven by strong growth in…


‘Soap Opera Ends’: Analysts React to Musk’s Twitter Buyout

Controversial Tesla Inc. CEO Elon Musk has Wall Street buzzing after social media platform Twitter Inc. accepted Musk’s hostile takeover bid to take Twitter private for $44 billion. Twitter’s board of directors accepted Musk’s bid on Monday after initially fending off the buyout by adopting a so-called poison pill. Tesla shares traded lower by 9.5…


Tesla Loses $126 Billion in Value Amid Musk Twitter Deal Funding Concern

Tesla Inc. lost $126 billion in value on Tuesday amid investor concerns that Chief Executive Elon Musk may have to sell shares to fund his $21 billion equity contribution to his $44 billion buyout of Twitter Inc. Tesla is not involved in the Twitter deal, yet its shares have been targeted by speculators after Musk…


Tesla Shares Plummet Through Key Levels: Did Musk Feed the Stock to the Bears?

Tesla Inc. was plummeting 10 percent on Tuesday, sliding through both the 50-day and 200-day simple moving averages (SMAs), which plunged the stock into bearish territory. The move came on higher-than-average volume, which indicates there’s fear around Tesla’s stock. This was likely accelerated by news CEO Elon Musk was successful in his bid to acquire…


Censorship No More? The Political Fallout of Elon Musk Buying Twitter

Billionaire Elon Musk has been highly critical of Twitter’s restrictions on speech. With his purchase of the social media platform and his goal of creating an open and transparent environment, there has been some discussion about the impact this could have on U.S. elections moving forward. Elon Musk’s takeover of Twitter is a “huge deal,”…