Deal or no deal, Elon Musk could upend Twitter’s business for a long time

Deal or no deal, Elon Musk could upend Twitter’s business for a long time

Twitter (TWTR), meanwhile, it remains unwavering that the acquisition will go through. In a statement to CNN Business on Tuesday, the company said it intends “to close the transaction and enforce the merger agreement.” Musk’s back-and-forth with the company is widely viewed as him setting the stage to renegotiate the offer price, or else back … Read more

US crypto lobbyists in push to contain fallout from stablecoin meltdown

US crypto lobbyists in push to contain fallout from stablecoin meltdown

Smartphone with Tether logo is placed on displayed US dollars in this illustration taken, May 12, 2022. REUTERS / Dado Ruvic / Illustration / File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, May 19 (Reuters) – The cryptocurrency industry is scrambling to respond to US lawmakers’ concerns about stablecoins following the … Read more

Shares slide as global growth fears mount

Shares slide as global growth fears mount

FILE PHOTO – An investor sits in front of a board showing stock information at a brokerage office in Beijing, China, December 7, 2018. REUTERS / Thomas Peter Register now for FREE unlimited access to Reuters.com Register BEIJING / HONG KONG, May 19 (Reuters) – Asian stocks slid on Thursday, tracking a steep Wall Street … Read more

Elon Musk Does Not Fear A Recession

Elon Musk Does Not Fear A Recession

Elon Musk makes the news. He is everywhere. The chief executive officer of premium electric vehicle maker Tesla (TSLA) – Get Tesla Inc Report is somewhat reminiscent of former Republican President Donald Trump when the latter was in office. Like Trump, Twitter is Musk’s main communication channel. Like the real estate developer, the tech tycoon … Read more

Twitter takeover: A timeline of Elon Musk’s bumpy road

Twitter takeover: A timeline of Elon Musk’s bumpy road

Even by the standards of Twitter, a company that has known plenty of chaos and dysfunction in its history, the weeks-long effort by billionaire Elon Musk to buy the company has proven to be uniquely tumultuous – and there’s no clear end in sight. After Musk recently said he was temporarily pausing the deal so … Read more

Elon Musk says Twitter claims ‘bot check’ broke NDA

Elon Musk says Twitter claims ‘bot check’ broke NDA

Elon Musk on Saturday tweeted that Twitter’s legal team accused him of violating a nondisclosure agreement by revealing that the sample size for the social media platform’s checks on automated users was just 100 accounts. “Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100!” … Read more

Elon Musk says his deal to buy Twitter is on hold

Elon Musk says his deal to buy Twitter is on hold

“Twitter deal temporarily on hold pending details supporting calculation that spam / fake accounts do indeed represent less than 5% of users,” Musk tweeted on Friday. The news initially sent Twitter shares down more than 20% in pre-market trading before the stock rebounded somewhat. Two hours after his first tweet, Musk posted that he is … Read more

Wall Street whipsaws, S&P closes lower on worries of prolonged inflation

Wall Street whipsaws, S&P closes lower on worries of prolonged inflation

Producer prices decelerated in April S&P 500 flirts with bear market confirmation Tapestry jumps after upbeat Q3 results Indices: Dow down 0.33%, S&P off 0.13%, Nasdaq up 0.06% NEW YORK, May 12 (Reuters) – US stocks ended a whipsaw session slightly lower on Thursday, as investors juggled signs of peaking inflation with fears that it … Read more

Explainer: What are stablecoins, the asset rocking the cryptocurrency market?

Explainer: What are stablecoins, the asset rocking the cryptocurrency market?

Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin are seen in this illustration picture taken June 2, 2021. REUTERS / Florence Lo / Illustration Register now for FREE unlimited access to Reuters.com Register LONDON, May 12 (Reuters) – Most cryptocurrencies have a major problem with price volatility, but one sub-category of coins is … Read more

Crypto investors panic amid digital coin, bitcoin crash

Crypto investors panic amid digital coin, bitcoin crash

Crypto investors were panicking on Thursday as bitcoin and other digital coins continued to plummet. Victims of the bloodbath – which comes amid a broader stock market rout – range from the billionaire crypto titans who run leading marketplaces such as Coinbase and Binance to lowly retail investors who have poured their life savings into … Read more