Elon Musk, the CEO of Tesla Inc, unveiled a 9.2 per cent stake in micro blogging site Twitter Inc, worth about $3 billion, putting him as the microblogging site’s largest stakeholder and causing its stock to surge more than 20%. Musk’s move comes just days after he tweeted that he was “considering” creating a new social media…
Meta allegedly paid a political consulting agency to “undermine” TikTok, according to the CEO of a political consulting firm. According to internal emails obtained by the Washington Post, Targeted Victory’s effort attempted to portray TikTok “as a menace to American children.” The Post’s piece misrepresented their work, according to Zac Moffatt, and “major parts are…
Sri Lanka’s president proclaimed a state of emergency in the island nation on Friday, a day after angry protestors demanded his resignation near his home and as plans were being prepared for a nationwide rally over the country’s worst economic crisis in recent memory. President Gotabaya Rajapaksa used parts of the Public Security Ordinance to…
OPEC+ will keep politics out of its decision-making, according to Saudi Arabia’s oil minister, in favour of the “common good” of stabilizing energy prices. Following Russia’s invasion of Ukraine, governments and international organisations around the world imposed punitive sanctions and severed economic ties with the country, but OPEC — the intergovernmental organisation of 13 oil…
Barclays stock dropped as much as 6% in early Tuesday trade after one of the lender’s biggest investors sold a $1.2 billion piece of stock at a discount overnight. On Monday evening, Goldman Sachs arranged the sale of 599 million shares by an undisclosed investor. According to Refinitiv Eikon data, the shares are roughly comparable…
Ferretti Group, an Italian luxury yacht manufacturer, has priced its shares at HK$22.88 each, the lower end of its projected range, in order to generate HK$1.9 billion ($242.75 million) in its Hong Kong initial public offering, according to Refinitiv’s IFR service on Friday. The company sold 83.58 million shares, or around 25% of its total…
According to a high-ranking politician, Russia is considering accepting Bitcoin as payment for its oil and gas exports. According to Pavel Zavalny, “friendly” countries may be permitted to pay in cryptocurrency or local currency. Earlier this week, Russian President Vladimir Putin stated that he would like “unfriendly” countries to purchase Russian gas in roubles. The…
KoBold Metals, a mineral exploration business backed by billionaires such as Jeff Bezos and Bill Gates, announced on Thursday that it would commence drilling for crucial elements used in electric vehicles in Greenland. Last year, KoBold, which searches for raw minerals using artificial intelligence and machine learning, acquired a 51 per cent share in the…
Following Russia’s invasion of Ukraine, a jump in prices of sunflower oil has created an opportunity for growers of one of Spain’s most well-known products – olive oil. Even though Spanish stores limited sunflower oil purchases to a few bottles per person, stocks were quickly depleted, pushing businesses to stock up on the local alternative. “I…
As China battles its greatest Covid-19 epidemic since the pandemic began, consumption is expected to be the hardest hurt, while producers find methods to keep producing. Mainland China reported a drop in new confirmed cases for the second day in a row on Wednesday. According to National Health Commission data, the 1,226 new locally transmitted…
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