By Tom Hals WILMINGTON, Del (Reuters) -Twitter Inc has a strong legal case against Elon Musk walking away from his $44 billion deal to acquire the U.S. social media company but could opt for a renegotiation or settlement instead of a long court fight, according to legal experts. Delaware courts, where the dispute between the …
Twitter has legal edge in deal dispute with Musk Read More »
SHANGHAI (Reuters) – China has imposed fines on technology giants Alibaba and Tencent as well as a range of other firms for failing to comply with anti-monopoly rules on the disclosure of transactions, the country’s market regulator said on Sunday. The State Admnistration for Market Regulation (SAMR) released a list of 28 deals that violated …
China regulator fines Alibaba, Tencent for disclosure violations Read More »
By Dawn Chmielewski and Hyunjoo Jin (Reuters) -Elon Musk avoided discussing the collapsed Twitter deal as he addressed an audience of moguls on Saturday in Sun Valley, two sources who attended the conference told Reuters. In a wide-reaching interview, Musk spent most of his time talking about colonizing Mars and extolling the virtues of boosting …
Mars, birth rates, but no Twitter: Elon Musk captivates Sun Valley moguls Read More »
BEIJING (Reuters) – China can consider further deficit spending by the central and local governments, if needed, to finance support for small businesses, a former finance minister said on Saturday. To spur consumption, some local governments have issued consumption vouchers, but those steps remain inadequate due to a serious decline in fiscal revenue at all …
China can consider increasing its budget deficits – ex-finance minister Read More »
By Greg Roumeliotis (Reuters) – Elon Musk, the chief executive officer of Tesla and the world’s richest person, said on Friday he was terminating his $44 billion deal to buy Twitter because the social media company had breached multiple provisions of the merger agreement. Twitter’s chairman, Bret Taylor https://twitter.com/btaylor/status/1545526087089696768?s=20&t=7sx_IvK_zZkztdHdh8pwQQ, said on the micro-blogging platform that …
Twitter vows legal fight after Musk pulls out of $44 billion deal Read More »
BEIJING (Reuters) -China’s factory-gate inflation cooled in June to the lowest in 15 months as the country continues to buck the global trend of accelerating prices. The producer price index (PPI) rose 6.1% year-on-year, the National Bureau of Statistics (NBS) said on Saturday, after a 6.4% rise in May. Analysts had expected an increase in …
China’s June factory inflation cools counter to global trends Read More »
JAKARTA (Reuters) – Indonesia plans to increase the content of palm oil-based fuel in its biodiesel to 35%, known as B35, from 30%, starting on July 20, senior energy ministry official Dadan Kusdiana said late on Friday. The world’s biggest palm oil producer is struggling to cut palm oil inventories after a three-week export ban …
Indonesia to implement B35 biodiesel from July 20 -official Read More »
By Pete Schroeder WASHINGTON (Reuters) – Wall Street ended the day flat on Friday as Treasury yields jumped following a stronger-than-expected U.S. jobs report, which suggested the Federal Reserve may push further interest rate hikes to cool the economy and slow inflation. Oil prices rose over 2% on Friday, but still were down on the …
Stocks flat, oil gains as rate hikes loom following strong jobs data Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar was little changed against a basket of currencies on Friday ahead of the weekend following a choppy session that saw the greenback posting both gains and losses after data showed the world’s largest economy created more jobs than expected in June. The report cemented expectations of …
U.S. dollar flat in choppy trading after payrolls beat expectations Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose about 2% in volatile trade on Friday but were still heading for a weekly decline as investors worried about a potential recession-driven demand downturn even as global fuel supplies remained tight. Central banks around the world are raising interest rates to tame inflation, spurring fears that …
Oil rises 2% but posts weekly loss on recession fears Read More »
