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SEC Steps Up Scrutiny Over Musk Comments On $44 Billion Twitter Deal
The U.S. securities regulator quizzed Elon Musk last month over a tweet in which the world's richest person raised doubts over whether he would move ahead with his $44 billion acquisition of Twitter Inc due to concerns over the number of fake users on the platform.
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India To Drop Windfall Tax If Oil Prices Fall $40 A Barrel
The taxes, and some accompanying export curbs, will hit the earnings of companies such as Reliance Industries, Nayara Energy, the Oil and Natural Gas Corp, Oil India Ltd and Vedanta Ltd.
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Ford To Get Cheaper EV Batteries From CATL
Ford will be getting affordable batteries from CATL, the world’s largest manufacturer for EV batteries
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Tesla Raises Spending Plan, Discloses Subpoena For Musk In 2018
Tesla has revealed an updated spending plan where the electric car maker will be spending $1 Billion.
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Spotify Results Beat Expectations, Shuts Down Car Thing
Car Thing, a dashboard-mounted voice-controlled streaming device, priced at $89.99 is currently discounted to $49.99. At this price point and with increasing supply chain issues, the company could not achieve an attractive economic profile.
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MercadoLibre, Creditas Drive Used Car Loan Tie-Up In Mexico
Used car lots are being recruited to join the platform, and the two companies hope to expand semi-new offerings throughout Mexico starting with the capital of Mexico City, said Creditas country manager Gabriela Rolon.
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U.S. Tightens Sanctions On Iran, Targets Chinese, Emirati Firms Over Oil
The U.S. Treasury Department said in a statement the network of people and entities used a web of Gulf-based front companies to facilitate the delivery and sale of hundreds of millions of dollars in products from Iranian firms to China and elsewhere in East Asia.
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Factbox: Biden Set To Tackle Oil, Israel, Yemen, Iran On Saudi Trip
Biden has called on the kingdom and other Gulf producers to raise oil output to help stabilise prices, which have surged as a result of a strong rebound in consumption
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Yellen Says To Discuss With Seoul Price Cap On Russia Oil, Limits On N.Korea
Washington will discuss with South Korea measures to limit revenues flowing to Russia, such as a price cap on its oil
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Oil Slides 2% On Rising U.S. Fuel Stocks And Output
Oil prices slid about 2% on Wednesday as a rise in U.S. gasoline and distillate inventories and worries about slower economic growth around the world offset ongoing concerns about tight crude supplies.
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Mexican Used-Car Startup Kavak Expands Outside Latin America
Mexican used-car platform Kavak is investing $180 million to open offices and make its platform available in four new countries, including Turkey - its first location outside Latin America, the company said Wednesday.
Read More →U.S. Crude Ends Below $95/bbl As EU Tweaks Russian Oil Sanctions
Trading in oil futures has been volatile in recent weeks as traders try to reconcile possibilities of further interest rate hikes that could cut demand against tight supply from the loss of Russian barrels.
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EV Maker Rivian Plans To Cut Hundreds Of Jobs - Bloomberg News
Rivian had over 10,000 employees globally, as of Dec 31, 2021, according to the company's filing.
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Yellen Discusses Price Cap On Russian Oil With UK's Zahawi - U.S. Treasury
Both discussed the need to continue to accelerate budgetary support for Ukraine, and opportunities to build on sanctions imposed on Russia
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Explainer: Can Elon Musk Defy A Court If Ordered To Buy Twitter?
Twitter Inc has sued Elon Musk to force him to go through with the $44 billion acquisition of the social media company. What happens if Twitter succeeds and the world's richest man, who regularly taunts securities regulators, refuses to comply with the court order?
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Toyota Scales Back Texas Plant Output In Heatwave
The plant had scheduled five days of summer shutdown next week, and added two additional days due to a global semiconductor shortage, Toyota said. The seven days of closures are unrelated to the heat wave, the spokesperson added.
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India's Ola Electric To Set Up $500 Million Battery Research Centre
The facility will house advanced labs and high-tech equipment for battery innovation, and is part of India's push towards becoming a global electric vehicle hub, said Bhavish Aggarwal, founder and chief executive of Ola Electric.
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Groundbreaking Judge Will Oversee Twitter's Lawsuit Against Musk
Kathaleen McCormick took over the role of chancellor, or chief judge, last year after the retirement of Andre Bouchard on the Court of Chancery, a favored venue for large corporate disputes.
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Twitter Hits Back At Musk, Says No Deal Obligations Breached
The company has planned to sue Musk to force him to complete the deal, a threat he laughed off on Monday, when he sent a series of tweets joking about Twitter and its threat to enforce the agreement in court. Twitter is planning to file a lawsuit early this week in Delaware, people familiar with the matter told Reuters.
Read More →Twitter To Hold Shareholder Vote On Musk's Offer In September
The company's plan, which was disclosed in a filing, comes as the world's richest person prepares for a legal showdown with Twitter in October for walking away from his offer to buy the social media company.
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