BUSINESS
Marc Andreessen compares California to Rome Circa 250 A.D.
In a 34-tweet thread on Tuesday Andreessen, who co-founded the venture capital firm Andreessen Horowitz, said that he and his family considered leaving after a “surreal 2020.”
BUSINESS
Elon Musk revives $44 billion Twitter bid, aiming to avoid trial
Elon Musk made the proposal in a letter to Twitter on Monday, according to a filing with the Securities and Exchange Commission that confirmed a Bloomberg report.
BUSINESS
Ray Dalio gives up control of Bridgewater in final succession step
The billionaire founder of Bridgewater Associates has given up control of the firm he built into the world’s largest hedge fund, entrusting its future and $150 billion in assets to a younger generation of leaders with their own ideas about investing.
BUSINESS
A timeline of Elon Musk’s takeover of Twitter: The deal is on
Suddenly, Musk was Twitter’s largest individual shareholder, with more than 9% of the company, and speculation swirled about how he would influence the network’s future.
BUSINESS
Elon Musk’s Twitter deal has employees asking: Should I Stay or should I go?
Presenters from internal groups like the product and revenue teams didn’t officially discuss the development, or even acknowledge that Musk was back on board.
BUSINESS
Elon Musk says Twitter deal paves way for ‘X, the everything app’
In his first public remarks since reviving the effort to buy Twitter for about $44 billion, Musk called the acquisition “an accelerant” to building a kind of multi-function app.
BUSINESS
The big winners in Elon Musk’s Twitter deal? merger arbitrage traders
After Musk and Twitter agreed to proceed with the deal at the original offer price at $54.20 a share on Tuesday, the social media company’s stock rallied as much as 23%, pushing the spread to its narrowest level since the pair entered a merger pact back in April.
BUSINESS
Shell CEO says governments need to tax energy firms to help poor
Europe Union ministers reached an agreement last week on an initial energy package, setting a goal to reduce power consumption and agreeing to tap windfall profits of companies and redirect them to customers and businesses.
BUSINESS
Vodafone, Three UK merger set to be £14 billion test for watchdogs
The two mobile operators confirmed they’re in talks about a potential deal on Monday giving Vodafone 51% and CK Hutchison 49% of a combined business
WORLD
Elon Musk sets off uproar in Ukraine by tweeting his ‘peace’ plan
Elon Musk also launched a Twitter poll asking citizens of occupied areas of eastern Ukraine recently annexed by the Kremlin -- plus Crimea, which Moscow took in 2014 -- to decide if they want to live in Russia or Ukraine.
BUSINESS
Apple iPhone exports from India doubling in boon to PM Modi’s plan
At the current rate, outbound shipments of India-made iPhones, mainly to Europe and the Middle East, are set to reach $2.5 billion in the 12 months through March 2023, the people said. That’s almost double the $1.3 billion worth of iPhones India exported in the year through March 2022, the people said, asking not to be named as the data isn’t public.
BUSINESS
Meta is closing one New York office with cutbacks looming
The company is exercising its option to terminate its lease at 225 Park Ave. South in Manhattan, said the people, who asked not to be identified because the information was private.
BUSINESS
Emerging stocks have never spent so many days since a cycle high
It has been 594 days since the MSCI Emerging Markets Index closed at its peak in February 2021, according to Bloomberg-compiled data. The previous record was 589 days that ended in September 2001, according to an analysis by Morgan Stanley on peak-to-trough spans.
BUSINESS
Fed should end tightening after one more rate hike, Ed Yardeni says
The stress in financial markets from big rate increases, a surging dollar and quantitative tightening through the Fed’s reducing its bond holdings has reached the point that policy makers should make financial stability the top priority, says the president of Yardeni Research.
BUSINESS
Adani stock surge at risk of reversal, technical indicator shows
TD Sequential suggests that last week’s near 6 percent slump in the shares of the company may extend, with the stock continuing to pare its more than 100 percent gains for the year
BUSINESS
British bungling makes it hard to be an anglophile: Pankaj Mishra
To be sure, nationalist histories in India, China, Egypt and many other countries long depicted the British ruling class as predatory and callously incompetent, plundering foreign lands for its wealth at home while inflicting immiseration on those it ruled abroad.
BUSINESS
Pakistan faces years of fuel shortages after gas tender flop
Not one supplier responded to Pakistan LNG Ltd.’s tender to buy the power-plant fuel for between four to six years starting January, said traders with knowledge of the matter. The tender, which closed Monday, was seeking to procure one cargo of LNG each month.
BUSINESS
US to announce new limits on chip technology exports to China
The Commerce Department will roll out a package of rules this week to govern which semiconductor technologies can be exported to China, including codifying earlier guidance given to specific companies, said the people, who asked not to be identified as the information isn’t public.
BUSINESS
Warren Buffett’s successor is building an $68 million Berkshire holding
Abel acquired about $68 million of stock late last month, according to filings Monday. The Class A shares closed at $413,300 Monday in New York.
BUSINESS
Kim Kardashian to pay $1.3 million to SEC over crypto touting
The SEC said Kardashian was paid $250,000 to post on her Instagram account about EMAX tokens, a crypto asset offered by EthereumMax. Khardashian didn’t admit or deny the regulator’s allegations in settling the case.
TECHNOLOGY
Swiss dropout worth $14 billion moves startup away from porn
Guillaume Pousaz is the founder and chief executive officer of Checkout.com, which this year raised funding at a valuation of $40 billion, making it worth more than British telecoms giant Vodafone Group Plc.
BUSINESS
Credit Suisse shares hit record low as CEO fails to calm markets
The cost of insuring the firm’s bonds against default climbed about 15% last week to levels not seen since 2009 as the shares touched a new record low.
BUSINESS
Liz Truss drops tax cut for top UK earners to fend off rebellion
Chancellor of the Exchequer Kwasi Kwarteng announced the decision in a tweet early Monday, saying “we get it, and we have listened.” In a statement posted with his tweet, he said the decision to scrap the 45% rate of income tax had become a “distraction.”
BUSINESS
Gordon Moore’s law keeps chip leaders ahead of the pack
In the space of just three pages, the director of semiconductor R&D at Fairchild Camera and Instrument Corp. outlined one of the most powerful observations in modern business and science.
