Billionaire tech mogul Elon Musk, who is looking to finalize a deal to buy Twitter, said he agrees with the contours of a new European Union law meant to police illegal content, boost social media platform transparency, and enhance competitiveness to allow for more innovation and consumer choice. Musk met with E.U. industry chief Thierry…
Musk Says EU Law on Illegal Content and Tech Firm Transparency ‘Exactly Aligned’ With His Thinking
May 10, 2022
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TPG Records $199 Million Earnings in First Quarter Since IPO
TPG said on Tuesday its after-tax distributable earnings rose to $199 million in the first quarter, up from $65 million a year earlier, adding that its private equity and impact investing businesses had delivered strong growth in asset sales. TPG’s result exceeded the average analyst estimate of $149 million calculated by financial data provider Refinitiv….
Rising Cost of Living ‘Puts Brakes’ on Consumer Spending: UK Report
May 10, 2022
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Business & EconomyChinese Communist Party (CCP)cost of livingeconomic policieseconomyinflationinterest ratepersonal financeRetailUKWorldzero-COVID
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The soaring cost of living has hit the confidence of British consumers and has “put the brakes” on consumer spending, the latest retail statistics show. Retail sales dipped in April after a sharp downturn in consumer confidence, according to a report by the BRC-KPMG retail sales monitor. Total sales fell by 0.3 percent in April,…
Andy Warhol’s Marilyn Monroe Pop Art Sells for $195 Million, Setting New Record
May 10, 2022
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Andy Warhol’s 1964 pop art portrait of Hollywood actress Marilyn Monroe sold for $195 million on Monday night for nearly $200 million. The iconic artwork, which is signed and dated by Warhol, sold at Christie’s in New York for approximately $195,040,000, making it the most expensive piece of 20th century American artwork ever to be sold at auction…
Biden Admin Makes Record Tax Haul With Boost From Meme Stocks, Corporate Profits
The Biden administration has made a record tax haul so far this fiscal year partly on the strength of the meme stock mania and surging corporate profits, government data show, prompting the Treasury Department to scale back its debt sales. Treasury Department data through May 6, 2022 (pdf) show that tax collections since the start…
New Trademark for Australian Fashion Industry Launched
The Australian Fashion Council has rolled out a new trademark to improve global consumers’ awareness of Australian fashion brands. Leila Naja Hibri, the chief executive of Australia’s fashion industry peak body, said that a well-recognised trademark was a solution for international consumers’ lack of identification of Australian fashion. “We feel like this trademark, and the…
North Korea Missile Launched From Sub Last Week Appears Same Model as Last Year’s: Japan Minister
May 10, 2022
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Asia & Pacificballistic missileBusiness & Economyeconomic policieseconomyEuropeMarketsNorth KoreaRussia-Ukraine WarWorldYoon Suk-yeol
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TOKYO—The ballistic missile North Korea launched last week appears to be the same model as the submarine-launched missile Pyongyang tested last October, Japanese Defence Minister Nobuo Kishi said on Tuesday. North Korea fired a ballistic missile from a submarine on Saturday, days before the inauguration of new South Korean President Yoon Suk-yeol and U.S. President…
Almost Half of New Zealand Jobs in 2021 Received a Government Wage Subsidy
Almost half of New Zealand’s working population received at least one COVID-19 wage subsidy during the past two years, the Ardern government revealed in a new report. Excluding sole traders, 47 percent of New Zealand’s labour force, or 1.2 million employees, received a wage subsidy in 2021, down from 62 percent of jobs in 2020….
Why Hindenburg Research Is Shorting Twitter: ‘Musk Holds All the Cards’
Twitter Inc shares traded lower by 4 percent on Monday, well off the $54.20 per-share buyout price Tesla Inc CEO Elon Musk has agreed to pay to take Twitter private. In a new report, short-seller Hindenburg Research said there’s plenty of reason for investors to be skeptical of the Musk buyout. Changing Circumstances Hindenburg said there…
RealNetworks Founder/CEO Robert Glaser Seeks to Buy up All Outstanding Shares
RealNetworks Inc., a Seattle-based provider of artificial intelligence-based software and solutions, announced it received an unsolicited, non-binding proposal from Robert Glaser, the company’s founder, chairman and CEO, to acquire all of the outstanding shares of common stock not currently owned by Glaser and his affiliates at a purchase price of 67 cents per share in cash….
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