The City View: Musk on cusp of Twitter buy, and global markets down April 25, 2022 Today Andy Silvester talks to Jack Barnett, City A.M.’s Economics and Markets reporter. They go through the global market dip and why China’s zero-Covid lockdowns are concerning investors; bank earnings for Q1; and new ONS data showing that 9 in 10 households have recorded an uptick in their cost of living. And in the news, [...]
Twitter sale could be agreed as early as today as Elon Musk enters ‘final stretch’ of negotiations April 25, 2022 Twitter is in the final stretch of negotiations in its sale to Elon Musk, with a deal potentially being reached as early as today. As reported by Bloomberg, the social media firm is hammering out the terms of a transaction, according to inside sources. On April 14, the eccentric billionaire announced an offer to buy the [...]
It’s on: Twitter’s board and Elon Musk negotiate into the early hours over £36bn bid to snap up the social media giant April 25, 2022 Elon Musk and Twitter’s board negotiated into the early hours of this morning over the Tesla chief’s bid to buy the social media platform, The New York Times reported. Musk said last week that he had lined up $46.5bn, or £36.2bn, in financing to buy Twitter, putting pressure on the company’s board to negotiate a [...]
First commercial astronauts to return to Earth after string of splashdown delays April 24, 2022 The world’s first commercial astronauts are due to return to Earth tomorrow, after several splashdown delays over poor weather. The Ax-1 crew, which consists of three high-paying customers via commercial space firm Axiom and two space veterans, will be spend another night on the International Space Station (ISS), NASA confirmed last night. After spending a [...]
Business of Space: Reusable rockets, space junk and new markets ‘ripe for overhaul’ April 23, 2022 City A.M.’s Millie Turner offers up a roundup of the most important news across the space industry, every Friday. This week: D-Orbit to supply key parts for ESA rocket The US says no to space junk Satellite connection on place ‘ripe for overhaul’ D-Orbit inks fresh supply deal D-Orbit has cut a deal with Beyond Gravity to deliver critical tools and [...]
Elon Musk’s empire on a roll: Tesla reaps record profits as The Boring Company raises £515m April 21, 2022 Elon Musk’s empire seems to be on a roll, as Tesla wins the hearts of drivers looking to go green and his infrastructure business The Boring Company catches the eyes of investors. The Boring Company has raised $675m (£516m) in its latest funding round, Musk announced today, bringing the valuation to $5.7bn. The series C [...]
Tesla posts record profits as Elon Musk stands to gain $23bn windfall April 21, 2022 Tesla has seemingly won the hearts of drivers looking to go green, as rising prices has stopped short of putting off consumers from making the leap. Elon Musk’s electric vehicle (EV) company enjoyed record profits of $3.3bn (£2.5bn) in the first thee months of the year, despite inflationary headwinds. In its first quarter update published [...]
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.”
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 [...]
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 [...]