Elon Musk Terminates $44 Billion Twitter Deal, Shares Drop in Premarket Trading
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Elon Musk Terminates $44 Billion Twitter Deal, Shares Drop in Premarket Trading
Elon Musk Terminates
$44 Billion Twitter Deal, , Shares Drop in Premarket Trading.
CNBC reports that on July 8, Musk's attorney told Twitter's board that the SpaceX and Tesla CEO wants to cancel the deal to buy the social media platform.
During premarket trading on July 11, Twitter shares were down 5% indicating about a $1.4 billion loss in market value from the closing price on July 8.
CNBC reports that Musk maintains Twitter isn't being honest about how many bots and fake accounts exist on the platform.
Twitter claims to have supplied Musk with accurate and honest information to confirm that spam accounts only make up about 5% of users.
Bret Taylor, Twitter's board chair, said legal action will be taken in the Delaware Court of Chancery.
On July 11, Musk took to Twitter to post a meme making fun of the whole ordeal.
.
As of July 8, Twitter shares were down 32% from Musk's agreed deal price.
Many skeptics say that the bot issue isn't really why
Musk wants out of the deal, but rather he simply doesn't
want to pay the $54.20 per share he'd agreed to.
.
CNBC reports that following a likely protracted court battle, Musk could be fined $1 billion for walking away from the deal.
Elon Musk weighs in on the escalating tensions between Israel and Iran with a surprising proposal for peace. Explore his unconventional approach and its implications in our latest coverage.
#ElonMusk #IranIsrael #IranIsraelTensions #IsraelAttacksIran #IranAttacksIsrael #TeslaCEO #Tesla #BenjaminNetanyahu #AliKhamenei #Oneindia
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Tesla and Space X CEO Elon Musk's tweet from January has caught the attention of the US, possibly paving the way for India to get a permanent seat at the UNSC... IndiaTimes
Elon Musk isn't just building cars -- he seems to be in the submarine business too ... that's what this video of a Tesla driving through several feet of water.. TMZ.com
Former Twitter executives, including ex-CEO Parag Agrawal, have filed a lawsuit against tech mogul Elon Musk, seeking over $128 million in combined unpaid severance. The lawsuit, filed on Monday in federal court in San Francisco, is the latest in a string of legal challenges faced by Musk since he acquired the social media giant for $44 billion in October 2022, subsequently renaming it X.
#X #ParagAgrawal #ElonMusk #Twitter
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Google Fires Employees , for Protesting Israel Contract.
28 Google workers have been fired for protesting
a $1.2 billion contract that the company has with
the Israeli government and military to provide
cloud and AI services, NBC News reports. .
The firings follow an April 16 sit-in at
Google's offices in California, New York and Seattle in which nine workers were arrested.
The group that coordinated the demonstration
is known as No Tech for Apartheid. .
Google issued a statement about the recent firings.
A small number of employee
protesters entered and disrupted
a few of our locations. , Google spokesperson, via statement.
Physically impeding other employees’
work and preventing them from
accessing our facilities is a clear
violation of our policies, and
completely unacceptable behavior. , Google spokesperson, via statement.
We have so far concluded
individual investigations that
resulted in the termination of
employment for 28 employees,
and will continue to investigate
and take action as needed, Google spokesperson, via statement.
No Tech for Apartheid claims that the
workers were fired "indiscriminately.".
This excuse to avoid confronting
us and our concerns directly,
and attempt to justify its illegal,
retaliatory firings, is a lie, No Tech for Apartheid, via statement.
Meanwhile, many of Google's workers have
reportedly quit after experiencing "mental health consequences of working at a company that is using their labor to enable a genocide," No Tech for Apartheid said.
On a personal level, I am opposed
to Google taking any military
contracts — no matter which
government they’re with or what
exactly the contract is about. , Cheyne Anderson, a Google Cloud software engineer based
in Washington who was arrested during a sit-in, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Amazon Cuts Hundreds , of Cloud Computing Jobs.
An Amazon Web Services (AWS)
spokesperson issued a statement about
the job cuts on April 3, CNBC reports. .
We’ve identified a few targeted areas of
the organization we need to streamline
in order to continue focusing our efforts
on the key strategic areas that we
believe will deliver maximum impact, AWS spokesperson, via statement.
We didn’t make these decisions
lightly, and we’re committed
to supporting the employees
throughout their transition to new
roles in and outside of Amazon, AWS spokesperson, via statement.
Cuts are being made to the store technology division “as a result of a broader strategic shift in the use of some applications in Amazon’s owned as well as in third-party stores,” the spokesperson said.
The layoffs come after Amazon announced that it was ending its Just Walk Out technology in Fresh stores.
The cashierless technology is overseen
by teams within the AWS unit. .
Beginning in 2022, Amazon started
its largest layoffs in history by letting
go of 27,000 roles company-wide. .
So far in 2024, the retail behemoth has cut jobs at Audible, Buy with Prime, Prime Video, MGM Studios and Twitch, CNBC reports. .
This latest round of cuts will
allow U.S. employees to collect pay
and benefits for a minimum of 60 days.
They will also be offered a severance package.
Credit: Wibbitz Top Stories Duration: 01:30Published
UPS to Become US Postal Service’s , Main Air Cargo Provider.
On April 1, United Parcel Service announced
that it will replace FedEx as the primary air
cargo provider for the USPS, CNBC reports. .
On April 1, United Parcel Service announced
that it will replace FedEx as the primary air
cargo provider for the USPS, CNBC reports. .
FedEx is walking away from a
22-year partnership after failing to
secure a better contract with the agency. .
FedEx is walking away from a
22-year partnership after failing to
secure a better contract with the agency. .
In fiscal year 2023, USPS paid FedEx $1.73 billion
for its services, down from the $2.4 billion
FedEx received in fiscal year 2020.
The decrease in payments was partially due
to the postal service using more economical
trucks in place of planes, CNBC reports. .
The parties were unable to reach
agreement on mutually beneficial
terms to extend the contract, FedEx, via securities filing.
Since FedEx will lose nearly $2 billion in annual
business from letting go of the contract, .
hundreds of pilots will likely
lose their jobs, CNBC reports .
Following the announcement, UPS shares
increased 1.4% while FedEx stock dropped 1.6%.
FedEx's current contract is
set to expire on Sept. 29
Credit: Wibbitz Top Stories Duration: 01:30Published
Krispy Kreme to Be Sold , at McDonald’s Nationwide.
Krispy Kreme to Be Sold , at McDonald’s Nationwide.
Both food chains made the announcement
on March 26, CNBC reports. .
The rollout will start later this year but will take until the end of 2026 to reach McDonald's nationwide. .
That's because Krispy Kreme will have
to "more than double its distribution"
to meet demand, CNBC reports. .
We think we can service about
6,000 restaurants with our existing
infrastructure, mostly doughnut
shops, which have excess capacity, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Shares of Krispy Kreme jumped 22%
following the announcement.
Krispy Kreme is also expanding distribution
to grocery and convenience stores.
That means that the overall efficiency
and productivity of our distribution network will significantly improve over time, not just
because of all those local deliveries. , Krispy Kreme CEO Josh Charlesworth, to CNBC.
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonald’s
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonald’s
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Boeing CEO Dave Calhoun , to Step Down.
Calhoun will resign at the
end of the year, CNBC reports.
His departure comes amid a broad management shakeup at Boeing following a Jan. 5 incident in which a door flew off an Alaska Airlines flight.
His departure comes amid a broad management shakeup at Boeing following a Jan. 5 incident in which a door flew off an Alaska Airlines flight.
As you all know, the Alaska Airlines
Flight 1282 accident was a
watershed moment for Boeing, Boeing CEO Dave Calhoun, via note to employees.
We must continue to respond to
this accident with humility and
complete transparency. , Boeing CEO Dave Calhoun, via note to employees.
We also must inculcate a total
commitment to safety and quality
at every level of our company, Boeing CEO Dave Calhoun, via note to employees.
Calhoun went on to say that
"the eyes of the world are on us.".
Calhoun went on to say that
"the eyes of the world are on us.".
I know we will come through this moment a
better company, building on all the learnings
we accumulated as we worked together to
rebuild Boeing over the last number of years, Boeing CEO Dave Calhoun, via note to employees.
Larry Kellner, chairman of the board,
will also step down in May.
Boeing director Steve Mollenkopf
will become the new chairman.
Boeing director Steve Mollenkopf
will become the new chairman.
Stan Deal, president and CEO of Boeing Commercial
Airplanes, will step down immediately.
Stephanie Pope, Boeing's Chief
Operating Officer, will take his place
Credit: Wibbitz Top Stories Duration: 01:30Published
Tesla has recalled more than 3,800 of its Cybertruck models following complaints that the accelerator pedal is at risk of getting stuck, US regulators have.. Sky News
6 Tips, for First-Time Investors.
1. Do not put all your
money into one company.
Just because Tesla leads the electric car market
right now, it does not mean it will be this way forever.
2. Avoid paying too much attention
to pundits on television.
Wells Fargo Adviser Scott Pedvis says a big
mistake is taking what others say "as gospel.".
3. Start as early as you can.
The earlier you begin, the more
time investments have to develop.
4. Enroll in a 401k plan
at your job, if possible.
A 401k is an excellent way to store money for when you eventually retire.
5. Do not be afraid
to ask for help.
A lot of investing can be done independently,
but not everything in your life can be do-it-yourself, Scott Pedvis, via 'USA Today'.
6. Put money into your investments on
a predetermined date each month.
It forces you to save, 
and takes the emotion
out of investing, Scott Pedvis, via 'USA Today'
Credit: Wibbitz Top Stories Duration: 01:30Published
SpaceX's Third Test of Its , Starship Succeeds Ahead, of Crewed Lunar Mission.
'The Independent' reports that SpaceX's third test of its
Starship has ended successfully, with the spacecraft
falling to Earth somewhere in the Indian ocean. .
The successful test follows two
failed tests which lasted only a few
moments before ultimately exploding.
The third test saw the Starship successfully launch,
separate from its booster, arrive in space, open its
payload door and then fly halfway around the Earth.
This means that the test successfully
accomplished all of the major tests
SpaceX had laid out prior to launch.
Starship is the largest and most
powerful rocket ever built, with
a towering height of 397 feet. .
CEO Elon Musk said prior to launch that the
company had made thousands of upgrades and
fixes to improve the chances of a successful test.
CEO Elon Musk said prior to launch that the
company had made thousands of upgrades and
fixes to improve the chances of a successful test.
The spacecraft launched from
the southern tip of Texas
near the Mexican border. .
The spacecraft launched from
the southern tip of Texas
near the Mexican border. .
The test flight outperformed previous
tests, reaching an altitude of 100
miles and nearing orbital speed.
'The Independent' reports that NASA is heavily invested in
the success of Starship, as the spacecraft plays an integral
role in the agency's plan to return astronauts to the moon.
The highly anticipated missions will
mark the first crewed missions to the
moon since last century's Apollo program.
Credit: Wibbitz Top Stories Duration: 01:30Published
On Friday, Elon Musk countersued Twitter Inc, The move comes amid the tech mogul’s legal fight against the social media company over his bid to walk away from the $44 billion purchase.
#ElonMusk..
Twitter Blames Elon Musk , for Its Revenue Slide .
'The Guardian' reports that Twitter has blamed
Elon Musk for a drop in revenue spurred
by the billionaire's chaotic takeover bid.
'The Guardian'..
Credit: Wibbitz Top Stories Duration: 01:31Published
Court Date, Set for Twitter's
Legal Showdown , With Elon Musk.
Quartz reports that Twitter has recorded its first win in a legal showdown with billionaire Elon Musk.
The two parties are headed to a..
Credit: Wibbitz Top Stories Duration: 01:31Published
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