It is the biggest acquisition financing ever put forward for one person. Elon Musk is doing it his way. More than two-thirds of the $46.5 billion financing package that Musk unveiled on Thursday in support of his bid for Twitter Inc. would come from his assets, with the remainder coming from bank loans secured against…
Analysis: Musk Tears Up Buyout Playbook With $46.5 Billion Twitter Financing
McDonald’s Calls Icahn Demands on Sourcing Pigs Unfeasible, Expensive
BOSTON—McDonald’s Corp. on Thursday said Carl Icahn’s call for the fast food chain to stop buying pork from suppliers that house the animals in crates would be logistically unfeasible and prohibitively expensive. The billionaire investor, who owns roughly $50,000 worth of McDonald’s stock, is pushing the company to change how it sources its pork and…
‘Embarrassing:’ Elon Musk Reacts to Tesla Being Pitted Against Rivian on Operating Expenses
Tesla Inc. CEO Elon Musk on Wednesday said the electric vehicle company’s operating expense is “embarrassingly high.” What Happened The billionaire entrepreneur was reacting to a Twitter post that compared Tesla’s first-quarter operating expenses with that of Rivian Automotive Inc.’s from its fourth quarter. Q1 2022 Operating Expenses @elonmusk Tesla — $1.9 billion Rivian — $2.1 billion — Whole Mars…
Which Federal Reserve Members Move the Markets Most With Their Public Comments?
When Federal Reserve members talk, investors listen. Some Fed members understandably tend to move the stock market more than others. Federal Reserve Structure The Federal Reserve consists of the Board of Governors, the Federal Reserve Banks, and the Federal Open Market Committee, or FOMC. The Board of Governors is the governing body of the Federal…
Ferrari to Recall More Than 2,000 Cars in China Over Braking Issues
SHANGHAI/MILAN—Luxury sports car maker Ferrari will recall 2,222 cars in China due to a potential fault in its braking systems, China’s market regulator said in a statement on Friday. The recall covers the 458 Italia, 458 Speciale, 458 Speciale A, 458 Spider, 488 GTB, and 488 Spider series models, the State Administration for Market Regulation…
Ackman Gives Up on Netflix, Taking $400 Million Loss as Shares Tumble
Billionaire investor William Ackman liquidated a $1.1 billion bet on Netflix on Wednesday, locking in a loss of more than $400 million as the streaming service’s stock plunged following news that it lost subscribers for the first time in a decade. Ackman’s hedge fund Pershing Square Capital Management made an abrupt U-turn, selling the 3.1…
Business Chart of the Day: Bitcoin’s Support at This Area
Since April 11, every time Bitcoin dropped to levels around $39,665, it reversed. That’s because there is support there. Support is a large group of investors who are all looking to buy something at, or close to, the same price level. At support levels, there are typically more buyers than sellers. The demand from the…
These Netflix Analysts Aren’t Confident of a Turnaround Within the Next 18 Months
Netflix Inc. reported a revenue miss and a loss of net paid adds for the first quarter. Reacting to the quarterly results, most analysts tempered their expectations for the streaming giant. Netflix Analysts Rosenblatt Securities analyst Barton Crockett maintained a Neutral rating on Netflix shares and reduced the price target from $354 to $245. Raymond James…
Truth Social Migrates to Rumble Cloud, Trump Platform Preparing to Onboard Millions
April 23, 2022
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Former U.S. President Donald Trump’s social media platform—Truth Social—migrated to Rumble Cloud on April 22 as it attempts to onboard millions of internet users on the network. Truth Social, created by Trump Media & Technology Group (TMTG), “successfully” migrated its website and mobile applications to Rumble’s cloud infrastructure, according to an April 22 news release….
Binance Forges NFT Tie-Up With Indian Government’s Top Tech Institute Amid Crypto Regulatory Clampdown
Amid the regulatory hammer on digital assets like Bitcoin, Ethereum, Shiba Inu, and Dogecoin, the Indian government-run IIT Delhi has partnered with Binance to provide non-fungible token (NFT) tickets during its upcoming three-day cultural fest. IIT Delhi’s ‘Rendezvous’ fest is scheduled from April 24–26. According to India’s Mint business newspaper, IIT Delhi representatives said the partnership with Binance will allow students to learn…
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