Iconic kitchen brand Tupperware could wind up operations anytime as the company tries to resolve a liquidity crunch, sending shares crashing. Tupperware has determined that “a violation of its credit agreement covenants is probable to occur as a result of forecasted non-compliance with financial covenants and the company’s delay in filing its Form 10-K, as…
Twitter Inc. Merged Into X Corp. and ‘No Longer Exists’
April 11, 2023
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Business & MarketsCompanieseconomyElon MuskInvestmentMarketsMedia & Big TechmergerSocial MediaTechTwitterUSX Corp.
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Elon Musk-owned X Corp. has absorbed the social media platform Twitter as part of the CEO’s long-awaited move to turn it into an “everything app” similar to China’s WeChat app. After finalizing his purchase of Twitter Inc. in October 2022, Musk discussed about a plan to gradually turn the platform into an app device that…
World Stocks Hold on to Upbeat Mood, Dollar Stalls
April 11, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks rallied on Tuesday, as traders held on to hope that interest rates will soon peak and come down later this year, even if the latest U.S. jobs data supported the case for a May hike from the Federal Reserve. Those hopes were fanned by an analysis in the International Monetary Fund’s latest World…
Harris Announces $1.7 Billion for Businesses in ‘Underserved’ Communities
The Biden administration on April 10 announced a $1.7 billion grant program aimed at helping small businesses in underserved communities access the capital and financing services they need to recover from COVID-19 pandemic lockdowns. Vice President Kamala Harris unveiled the program during a news conference alongside Deputy Treasury Secretary Wally Adeyemo where she called small businesses “the backbone” of the…
‘The Voice’ Could Become An Excuse Not to Help Indigenous Australians, Says Clive Palmer
April 11, 2023
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AustraliaBusiness & MarketsClive PalmersCompaniescritical race theoryEducation & Family NewsIndigenous Voice to ParliamentJacinta PricePoliticsUSWarren MundineWorld
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Australian mining magnate Clive Palmer has revealed he is open to being part of the “No” movement against the Indigenous Voice to Parliament. The mining magnate, whose net worth was estimated to be over $13 billion (US$8.6 billion) in 2021, has said he will talk to Indigenous leaders and politicians before deciding whether he would…
USPS Seeks to Hike Stamp Prices by 5.4 Percent
WASHINGTON—The United States Postal Service (USPS) on Monday said it was seeking approval to hike the price of first-class mail stamps to 66 cents from 63 cents. USPS won approval to hike stamp prices to 63 cents from 60 cents in January. The new hike—which the USPS says is needed to offset the rise in…
Musk Says SpaceX Starship Rocket Launch Slipping to Later in April
WASHINGTON—A key SpaceX Starship Super Heavy rocket launch test now is likely to take place later this month rather than sometime this week, the space company’s CEO Elon Musk said on Monday. SpaceX envisions Starship as a fully reusable transportation system to carry astronauts and cargo to Earth orbit, the moon, Mars, and beyond. The…
Vodafone Resolves Broadband Outage That Impacted Thousands of UK Users
Vodafone on Monday said it resolved an outage that impacted thousands of its home broadband service users in the United Kingdom, after hours of downtime. “We have now fixed the issue impacting just over 1 percent of our home broadband customers today. Customers should already be seeing their connectivity return,” the company told Reuters in…
J&J Talc Unit 2nd Bankruptcy Must Be Dismissed, Cancer Victims’ Lawyers Say
Johnson & Johnson’s second attempt to resolve talc lawsuits in bankruptcy should be dismissed as an unprecedented fraud designed to deny plaintiffs just compensation, lawyers representing cancer victims argued in a Monday court filing. The attorneys contend J&J defied a January appeals court rejection of its first attempt to settle the litigation, noting that a…
Tesla to Build Shanghai Factory to Make Megapack Batteries
SHANGHAI—Tesla Inc. is opening a factory in Shanghai, capable of producing ten thousand Megapack energy product per year, to supplement output of Megapack factory in California, the company said in a tweet on Sunday. The news was first reported by the Chinese state media outlet Xinhua. Elon Musk’s automaker will break ground on the plant…
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