Twitter shareholders sue Elon Musk and Twitter over chaotic deal

Twitter shareholders sue Elon Musk and Twitter over chaotic deal

Sheldon Cooper/SOPA Images | Lightrocket | Getty Images Twitter shareholders are suing Elon Musk, and Twitter itself, over their handling of a chaotic acquisition process that is still underway, and that has contributed to volatile price swings in the company’s stock price. The Tesla and SpaceX CEO revealed a significant stake in Twitter on April 4, and 10 days later proposed a buyout for $44 billion, or $54.20 per share. He has both sold and pledged a chunk of his Tesla holdings as collateral for loans in order to finance the deal.   Since Musk’s acquisition bid, Twitter’s share price has dropped more than 12%, and Tesla’s...

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Secretary of State Antony Blinken speaks on U.S. policy toward China

Secretary of State Antony Blinken speaks on U.S. policy toward China

WASHINGTON — Secretary of State Antony Blinken on Thursday described China as the “most serious long-term challenge to the international order,” even as the world grapples with Russia’s war in Ukraine. “China is the only country with both the intent to reshape the international order and, increasingly, the economic, diplomatic, military and technological power to do it,” Blinken said in a speech at George Washington University. “Beijing’s vision would move us away from the universal values that have sustained so much of the world’s progress over the past 75 years,” Blinken said. The speech, which outlined the Biden administration’s policy...

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Microsoft takes cautious approach to hiring in Office and Windows

Microsoft takes cautious approach to hiring in Office and Windows

Satya Nadella, chief executive officer of Microsoft Corp., appears at a panel session at the World Economic Forum in Davos, Switzerland, on May 24, 2022. Hollie Adams | Bloomberg | Getty Images Microsoft is gearing up to pursue a more conservative approach to hiring in a part of the business that includes some of its most popular products. Rajesh Jha, executive vice president in charge of Office and part of Windows, told staffers in his group on Thursday to be more cautious when it comes to opening up new roles and to request permission from Jha’s leadership team first, according...

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Stock futures are little changed with S&P 500 on track for winning week

Stock futures are little changed with S&P 500 on track for winning week

Traders on the floor of the NYSE, May 17, 2022. Source: NYSE Stock futures were little changed in overnight trading as the S&P 500 attempted to snap a seven-week losing streak. Futures on the Dow Jones Industrial Average shed about 25 points. S&P 500 futures were flat and Nasdaq 100 futures were marginally higher. Retail corporate earnings continued after the market closed Thursday. Ulta Beauty shares rallied more than 6% postmarket after better-than-expected quarterly results, while Gap sunk about 13% after slashing its profit guidance. The postmarket moves came after stocks gained in Thursday’s regular session. The Dow rose for...

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Monkeypox spread to more than 20 countries, but outbreaks containable, WHO says

Monkeypox spread to more than 20 countries, but outbreaks containable, WHO says

RT: Maria Van Kerkhove, Head a.i. Emerging Diseases and Zoonosis at the World Health Organization (WHO), speaks during a news conference on the situation of the coronavirus at the United Nations in Geneva, Switzerland, January 29, 2020. Denis Balibouse | Reuters The World Health Organization on Thursday said the monkeypox virus has spread to more than 20 countries, urging nations to increase surveillance of the infectious disease as outbreaks grow.  About 200 confirmed cases and more than 100 suspected cases of monkeypox have been detected outside of countries where it usually circulates, according to Maria Van Kerkhove, the WHO’s Covid-19 technical lead....

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Cybercriminals target metaverse investors with phishing scams

Cybercriminals target metaverse investors with phishing scams

A nurse in rural Maine. A fitness instructor in Colorado. A venture capitalist in Florida. All three invested in the metaverse, buying land they say they thought was a solid investment.  “I was really excited about it,” said Kasha Desrosiers, a long-term care nurse. “And hopeful for, you know, whatever projects that would come out of it.” But in just days or months, all their virtual land was gone. And each of them says that there was simply no way to get it back. Investors across the country told CNBC that hackers stole their land in the metaverse by tricking...

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China holds an unprecedented massive videoconference on the economy

China holds an unprecedented massive videoconference on the economy

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, addressed multiple levels of government during a meeting Wednesday. In this picture, Li chairs a symposium on stabilizing growth, held in southwest China’s Yunnan Province, May 18, 2022. Xinhua News Agency | Xinhua News Agency | Getty Images BEIJING — China held a rare nationwide meeting via teleconference Wednesday to bolster an economy battered by Covid. The timing and scale indicated to analysts the level of urgency and current challenges for the country to achieve its target...

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Broadcom announces plans to buy VMware

Broadcom announces plans to buy VMware

Hock Tan, chief executive officer of Broadcom Martin H. Simon | Bloomberg | Getty Images Broadcom will buy VMware in a cash-and-stock transaction valued at $61 billion, based on the closing price of Broadcom common stock on May 25, 2022, the companies announced on Thursday. The deal would be one of the largest technology acquisitions of all time, behind Microsoft‘s pending $69 billion deal to purchase Activision Blizzard and Dell‘s $67 billion purchase of EMC in 2016. Broadcom’s purchase of VMware will help the company diversify away from its core business of designing and selling semiconductors into enterprise software, which...

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Google hit by second UK antitrust probe into online ad dominance

Google hit by second UK antitrust probe into online ad dominance

The entrance to Google’s U.K. offices in London. Olly Curtis | Future Publishing | via Getty Images The U.K.’s competition regulator has opened a fresh investigation into Google, taking aim at the company’s role in the advertising technology market. It’s the second major antitrust probe to target Google’s ad practices in the U.K. The Competition and Markets Authority launched a separate investigation with the European Union into Google and Facebook parent company Meta earlier this year over concerns that a 2018 pact between the two companies — known as “Jedi Blue” — restricted competition in digital advertising. The CMA said...

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UK slaps windfall tax on oil and gas giants over rising energy bills

UK slaps windfall tax on oil and gas giants over rising energy bills

Sunak previously described the idea of a windfall tax on oil and gas majors as “superficially appealing” but a decision that would ultimately deter investment. Jonathan Brady – Pa Images | Pa Images | Getty Images LONDON — U.K. Finance Minister Rishi Sunak has imposed a windfall tax on oil and gas majors as the government scrambles to alleviate the country’s worsening cost-of-living crisis. The measures come a day after a deeply embarrassing investigation into lockdown parties at Downing Street and amid sustained pressure on the ruling Conservative government to do more as soaring inflation pushes up the price of...

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