The uncertainty around the Twitter Inc. deal has intensified ever since Elon Musk announced on the company’s namesake platform that the deal had been put on hold. A Wall Street Journal report, quoting lawyers, suggests it might be difficult for the Tesla Inc. CEO to backtrack at this juncture. What Happened Musk negotiated the agreement with…
How the Tables Have Turned: Could Elon Musk Be ‘Forced’ to Buy Twitter?
A Bear Market May Be on the Horizon—Here’s What That Means
NEW YORK—Investors on Wall Street need a place to hide. The stock market’s skid this year has pulled the S&P 500 close to what’s known as a bear market. Rising interest rates, high inflation, the war in Ukraine, and a slowdown in China’s economy have caused investors to reconsider the prices they’re willing to pay…
Ford Recalls 39,000 US SUVs After Engine Fire Reports
WASHINGTON—Ford Motor Company said Thursday it was recalling 39,000 SUVs after reports of 16 fires, and has advised owners to park their vehicles outdoors and away from structures until a fix is completed. The recall, which covers some 2021 model year Ford Expedition and Lincoln Navigator vehicles, was prompted as an engine compartment fire could…
IAG Orders 50 Boeing Jets in Partial Switch From Airbus
British Airways owner IAG announced plans on Thursday to order 50 Boeing 737 MAX jets, reviving part of a stalled bid to replace Europe’s Airbus for some of its short-haul flights while handing support to struggling Boeing. The order includes 25 of the 737 MAX 10 variant which Boeing is battling to get certified ahead…
Trump SPAC Deal Finally Files a Proxy: 10 Key Details We Now Know
Seven months after announcing a SPAC merger, a social media company owned by former President Donald Trump has filed its proxy. Here are the key details from the more than 250 pages contained in the proxy filing. 1. New Name If the merger between Trump Media & Technology Group and Digital World Acquisition Corp is…
Previously Owned Homes Sales In April Fall To Lowest Levels Since The Pandemic
May 20, 2022
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Sales of previously owned homes in April tumbled for the third straight month to their slowest pace since the start of the pandemic, according to the National Association of Realtors on May 19. Existing home sales fell to a seasonally adjusted annual rate of 5.61 million, while sales were down 2.4 percent from March and…
US Files 3rd Labor Complaint in Mexico, on Behalf of Panasonic Workers
MEXICO CITY—U.S. labor officials asked Mexico on Wednesday to probe whether workers at a Panasonic auto parts factory were denied their rights, marking the third U.S. labor complaint under a new trade deal that aims to improve workplace conditions in Mexico. The request from the U.S. Trade Representative (USTR) follows a petition from a Mexican…
Read Why Magnachip Shares Are Trading Higher Today
LX Group collaborated with the Carlyle Group private equity fund manager to propose a takeover offer for Magnachip Semiconductor Corp, a media reported. LX Group recently submitted a letter of intent to acquire Magnachip Semiconductor to JP Morgan in the United States. The industry valued Magnachip at $1.2 billion (1.5 trillion won). Magnachip agreed on a deal with a…
Labor’s Election Promises to Inflate Budget Deficit By $7.4 Billion
The Labor party has announced its policy costings, which are expected to put a $7.4 billion (US$5.19 billion) dent in the federal budget over the next four years if the centre-left political party wins the election on May 21. More specifically, the promises made by Labor during the six-week election campaign will cause the budget…
LIVE UPDATES: US to Ship $100 Million in Military Aid to Ukraine
The latest on the Russia–Ukraine crisis, May 20. Click here for updates from May 19. US to Ship $100 Million in Military Aid to Ukraine The United States has announced a shipment of $100 million in military equipment to Ukraine, separate from what will be coming from the $40 billion approved Thursday by Congress. The…
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