Elon Musk made headlines once again Thursday with news that he has offered to buy out the remainder of Twitter Inc. The news has increased the volatility in shares of the social media company and also led to a number of opinions on what the buyout means. What Happened Elon Musk, the CEO of Tesla Inc….
Mark Cuban, Donald Trump, Dave Portnoy, and More React to Elon Musk’s Twitter Bid
April 14, 2022
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Business & EconomyCompaniesDave PortnoyDonald TrumpElon MuskMark CubanMarketsMedia & Big TechReactTwitter
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Middle- and Low-Income Families Pay the Price for High Inflation: Economist
April 14, 2022
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Business & EconomyeconomyinflationLocal NewsLos Angelespersonal financeRegional NewsRegional-Local NewsriversideSouthern CaliforniaUS
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With the nation’s inflation rate at its highest in 40 years, an economist from UCLA says middle- and low-income families bear the brunt of the burden. Inflation in the Los Angeles area, which also includes Long Beach and Anaheim, rose 8.5 percent in the year through March—on par with the national rate—the Bureau of Labor…
Twitter Shares Slide After Saudi Investor Rejects Musk’s Bid for Twitter
Elon Musk’s ambitious bid to take Twitter private under his ownership has hit a roadblock as Saudi investors are rejecting the Tesla CEO’s offer, causing Twitter shares to drop and setting the stage for a bitter struggle for control of the social media giant. On Thursday, several hours after Musk announced his “final offer” to…
Russia Says Warship Sinks After Explosion; Ukraine Says Its Missile Is Responsible
April 14, 2022
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Business & Economyeconomic policieseconomyEuropeInternationalMarketsmissileRussiaRussia-Ukraine WarUkrainewarshipWorld
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KYIV/LVIV, Ukraine—Russia said its lead warship in the Black Sea sank on Thursday after an explosion and fire that Ukraine claimed was caused by a missile strike. The Moskva, Russia’s flagship in its Black Sea fleet, sank as it was being towed to port in stormy weather, Russian news agencies quoted the defense ministry as…
Federal Government Tax Collection Hits Record $2 Trillion in 6 Months
April 14, 2022
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American taxpayersbillionaire taxBusiness & Economyeconomic policieseconomygovernment spendingtax collectionUSUS News
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The U.S. federal government has collected record high taxes exceeding $2 trillion during the first half of the fiscal year, from October 2021 to March 2022, according to the Bureau of the Fiscal Service. In the first six months of fiscal year 2022, which began Oct. 1, 2021, tax collections totaled $2.12 trillion, up over…
Gold Dips Slightly, Remains High as Inflation and War Lift Demand
April 14, 2022
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Business & EconomycommoditiesEuropeGold PricesinflationMarketsPrecious MetalsRussia-Ukraine WarUSWorld
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Gold futures dipped on April 14 after five weeks of consecutive gains, but rising inflation and safe haven demand driven by the Russia–Ukraine conflict have kept the precious metal on track for a second consecutive weekly gain, up about 1.2 percent. U.S. gold futures declined 0.6 percent to $1,973.30 an ounce, while spot gold fell 0.5 percent to…
Environmentalists Would Ban Urban Car Use and Internal Flights in Europe to End Russian Energy Imports
April 14, 2022
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Business & Economycommoditieseconomic policieseconomyenergyEnvironmentEuropeflightsinflationInternationalMarketsOilRussiaRussia-Ukraine WarScienceWorld
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A March report from the environmentalist group RePlanet is pushing for an immediate halt to imports of Russian oil, natural gas, and coal by European countries, arguing that major policy shifts could rapidly end that dependence. While the European Union has pledged to phase out Russian fossil fuel imports by 2027, the RePlanet campaigners aim to…
From Airlines to Hotels: It’s Getting More Expensive to Travel
It is getting more expensive to travel in today’s economy, with inflationary pressures impacting airlines, hotels, and the tourism sector. A recent survey from market research firm Destination Analysts found that 93 percent of American travelers intend to take at least one leisure trip in the next 12 months. But will costs affect the quality…
Soaring Inflation Fueled by Reckless Spending Will Come to Bite Democrats in November: Analysts
April 14, 2022
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2022 Midterm ElectionsbidenBusinessBusiness & EconomyDemocratseconomyinflationMidtermsPoliticsUnited StatesUS
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A recent poll finding that only 38 percent of Americans approve of the job that President Joe Biden is doing—down from 41 percent in December and 48 percent in July— is only the latest in a stream of bad news for the Democratic Party as November’s midterm elections draw near. The 53 percent of Americans…
Citigroup Profit Sinks 46 Percent on Loan Loss Provisions, Dealmaking Slump
NEW YORK—Citigroup Inc. could lose as much as $3 billion from its Russia exposures, $2 billion less than previously forecast, the bank said on Thursday while reporting a nearly halving of its first-quarter profit. The bank said it had reduced its total exposure to Russia since December by $2 billion to $7.8 billion and that…
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