Elon Musk’s purchase of Twitter could be tossed without complete information about the actual number of fake and spam accounts on the social network, the billionaire has warned. This has forced investors to hit the sell button in the last couple of weeks. Twitter shares have erased all of their gains since Musk announced a…
Will Musk Work Out Better Deal With Twitter or Walk Away?
Elon Musk’s purchase of Twitter could be terminated without complete information about the actual number of fake and spam accounts on the social network, the billionaire has warned. That’s forced investors to hit the sell button in the past couple of weeks. Twitter shares have erased all of their gains since the Tesla and SpaceX CEO…
Chinese Investment in US Farmland Prompts Pushback
News Analysis China’s involvement in the U.S. agricultural sector is under greater scrutiny, with politicians sounding the alarm about economic and national security risks stemming from Chinese purchases of prized American farmland. Late last month, Rep. Dan Newhouse (R-Wash.) introduced legislation that would ban the purchase of agricultural land, including ranches, in the United States…
US SEC Chief Unveils Plan to Overhaul Wall Street Stock Trading
WASHINGTON/NEW YORK—The top U.S. securities regulator on Wednesday unveiled a planned overhaul of Wall Street retail stock trading rules, aiming to boost competition for handling orders by commission-free brokerages to ensure mom-and-pop investors get the best price for trades. U.S. Securities and Exchange Commission chair Gary Gensler told an industry audience he wants to require…
‘Foolish and Naive’: US Lawmakers Decry Biden Admin’s Greenlight of China Military Investment
June 8, 2022
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U.S. lawmakers are calling out the Biden administration for its move not to enforce a divestment obligation for federal government entities on blacklisted Chinese military firms, a decision that according to one of them is “foolish and naive.” Under an executive order President Joe Biden issued last June, U.S. investors had 365 days to divest…
Ray Dalio Says Stagflation Pain Will Force Central Banks Into a U-Turn on Rate Hikes: Report
June 8, 2022
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Renowned investor Ray Dalio told an Australian newspaper in a recent interview that he thinks central banks across the world will be forced to reverse their current paths of monetary tightening and cut rates in 2024 after their economies suffer from stagflation. Dalio, the billionaire founder of Bridgewater Associates LP, told the Australian Financial Review…
US Economy to Slow Due to Sticky Inflation, Persistent Supply Woes: OECD
The Organization for Economic Cooperation and Development (OECD) has cut its growth forecast for the U.S. economy, blaming high inflation that could take longer to dissipate as supply disruptions persist in part due to the Ukraine war and China’s COVID-19 lockdowns. U.S. gross domestic product (GDP) is expected to weaken to 2.46 percent in 2022,…
Stagflation Risk Growing, Recession ‘Hard to Avoid,’ World Bank Warns
June 7, 2022
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The global economy faces a mounting risk of stagflation—a toxic combination of high inflation and sluggish growth—and many countries could be choked by recession, the World Bank warned in a new report as it slashed over 1 percent from its 2022 economic growth forecast. The World Bank predicted in its June 7 outlook that the…
Bipartisan Crypto Bill Proposes Sweeping Oversight of Digital Assets
June 7, 2022
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Two senators—a Democrat and a Republican—will on Tuesday officially unveil a sweeping legislative proposal to regulate cryptocurrencies and other digital assets. “As a former state treasurer, I am excited by the possibilities of incorporating digital assets into the American financial system. The legislation that @SenGillibrand and I are proposing will do just that,” Sen. Cynthia…
Billionaires’ Twitter Spat Moves on After Gates Downplays Shorting Tesla’s Stock
The public feud between two of the world’s richest people keeps unfolding as Elon Musk hit back at Microsoft CEO Bill Gates, who had just played down his tune on shorting Tesla stocks. Despite claiming that Tesla’s done a fantastic job, Gates said during an interview with French YouTuber HugoDécrypte that he had paid out…
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