business news
Elon Musk faces long legal war with Twitter, which has the upper hand, as he abandons deal
Billionaire Elon Musk on Friday moved to back out of his $44 billion deal to buy Twitter, citing continued disagreements over the number of spam accounts on the platform. While Musk may want to end his bid for Twitter, it’s not as easy as just walking away, according to legal experts. Instead, Musk likely faces […]
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Elon Musk has been expressing buyer’s remorse over Twitter for months
Musk’s plan to buy Twitter has worried policymakers around the world. Joe Skipper | Reuters Less than three months after agreeing to buy Twitter for $44 billion, Elon Musk says he wants out. It’s no surprise — Musk has been expressing buyer’s remorse since shortly after he announced the deal. Attorneys representing Musk sent a […]
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Elon Musk notifies Twitter he is terminating deal
SpaceX founder and Tesla CEO Elon Musk looks on as he visits the construction site of Tesla’s gigafactory in Gruenheide, near Berlin, Germany, May 17, 2021. Michele Tantussi | Reuters Billionaire Elon Musk wants to end his deal to buy Twitter, according to a letter sent by a lawyer on his behalf to the company’s […]
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U.S. agency to open probe into fatal Florida Tesla crash
A Tesla that rear-ended a tractor-trailer at a rest area off Interstate 75 killing both the driver and passenger, is seen at the crash site near Gainesville, Florida, July 6, 2022. Florida Highway Patrol | via Reuters The National Highway Traffic Safety Administration said on Friday it will open a special investigation into a Florida […]
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Why tensions between China and Taiwan are on the rise
In May, President Joe Biden issued a stark warning to China: The U.S. would come to Taiwan’s defense militarily if China were to invade. “That’s the commitment we made,” Biden said in response to a question over the U.S.’ intention to protect Taiwan. “We agree with the ‘One China’ policy. We signed on to it.” […]
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Another vote delay leaves Spirit’s merger with Frontier in question while JetBlue circles
The fate of Spirit Airlines’ merger with fellow budget carrier Frontier Airlines is growing murkier. Spirit this week delayed its shareholder meeting for a third time, opening the door to more talks from both Frontier and rival suitor JetBlue Airways. The latter two delays each came just hours before Spirit shareholders were due to vote […]
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Big payroll gains push recession fears into the corner — for now
A worker wearing a protective mask slices beef in the butcher section of a Stew Leonard’s supermarket in Paramus, New Jersey, on Tuesday, May 12, 2020. Angus Mordant | Bloomberg | Getty Images June’s big payroll jump helped clear away some of those recession clouds for a U.S. economy that nonetheless faces some stormy weather […]
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JMP downgrades consumer lender Upstart citing ‘limited revenue visibility’ going forward
JMP Securities downgraded shares of Upstart Holdings on Friday after the consumer lending company issued a profit warning that highlighted how difficult it would be to predict its future revenue. Analysts led by Andrew Boone lowered Upstart’s rating to market perform from market outperform, but did not set a price target for the stock. Upstart […]
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Biden says Supreme Court is ‘out of control,’ orders HHS to protect abortion access
U.S. President Joe Biden speaks before signing an executive order to help safeguard women’s access to abortion and contraception after the Supreme Court last month overturned Roe v Wade decision that legalized abortion, at the White House in Washington, July 8, 2022. Kevin Lamarque | Reuters Calling the U.S. Supreme Court “out of control,” President […]
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Number of Americans involuntarily working part-time falls by 707,000 to 3.6 million, lowest level in 21 years
Momo Productions | Digitalvision | Getty Images The number of Americans who want to work full-time but are forced to work part-time jobs declined in June to its lowest in more than 20 years, according to federal data issued Friday, underscoring the strength of the labor market and the bargaining power of workers. There were […]
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