Trump’s Truth Social crashes once again as former President’s app struggles to gain momentum April 19, 2022 Donald Trump's social media app Truth Social continues to disappoint fans who hoped it would “create a rival to the liberal media consortium and fight back against the “Big Tech” companies of Silicon Valley.”
Tesla: Workers in Shanghai must sleep on factory floor as China restarts production in 600 companies amid draconian Covid measures April 19, 2022 Shanghai’s Tesla factory workers have to sleep on the floor of the factory, as Elon Musk’s company restarts production and China continues a draconian covid policy. With hundreds of firms restarting operations across China, workers have to abide by a strict policy of living on site, in line with the country’s ‘closed loop’ restrictions, according [...]
Hostile Takeover: Elon Musk trades blows with Twitter’s board April 18, 2022 Eccentric billionaire Elon Musk is locked in an ongoing battle with Twitter's board as he pursues a hostile takeover.
Twitter takes ‘poison pill’ as board battles to thwart Musk takeover April 16, 2022 Twitter has adopted a ‘poison pill’ tactic in order to obstruct Elon Musk’s plans to take over the social media company. Twitter’s board unanimously approved a limited-duration shareholder rights plan on Friday. The so-called ‘poison pill’ would allow existing shareholders to buy stocks at a substantial discount to dilute the holdings of new investors. In [...]
Elon Musk launches full $41bn Twitter takeover: ‘It has extraordinary potential – I will unlock it’ April 14, 2022 Elon Musk has offered to buy Twitter for $54.20 per share this morning as the drama surrounding the social media giant continues. According to regulatory filing, this price represents a 38 per cent premium to the closing price of Twitter’s stock on April 1, the day before the billionaire became the largest shareholder of the [...]
Owner of ‘Jack Dorsey’s first tweet’ NFT is struggling to sell it April 14, 2022 Man who bought NFT of Jack Dorsey's first ever tweet says he may not sell the digital asset, despite listing it for sale last week.
Musk’s anarchic vision won’t help Twitter but a subscription model might April 14, 2022 In late January, an unknown investor began quietly building a stake in Twitter. A little over two months later, Elon Musk breached the surface. On April 4th, he revealed a 9.2 per cent stake. Though two days later an official filing corrected that to 9.1 per cent, Musk has become Twitter’s largest shareholder. Poor arithmetic [...]
Musk sued for not making Twitter stake increase public April 13, 2022 Elon Musk is being sued because he didn’t make public he had bought a major stake in Twitter. The Tesla and SpaceX billionaire, who recently became the largest shareholder in the social media giant, is facing action from investors in a New York federal court. This comes after Musk bought 9.2 per cent in Twitter [...]
Hostile Twitter takeover rumours grow as Elon Musk boasts he can grow stake ‘at any time’ April 12, 2022 The richest man in the world, Elon Musk, has fuelled rumours he will attempt a hostile takeover of Twitter, after saying he can boost his stake in the site “at any time”. The billionaire entrepreneur who runs Tesla and Space X became the social media giant’s main shareholder last week, but rejected an invitation to [...]
The City View: Sluggish UK economic growth, and Heathrow flying high April 11, 2022 Today Andy Silvester talks to City A.M.’s Economics and Markets reporter Jack Barnett. They go through lacklustre UK economic growth figures and why the cost-of-living crisis will hinder said growth; the latest inflation figures; the global economic recovery; and economic uncertainty to come. Andy also goes through the news: Heathrow has marked its highest number [...]