Elon Musk and Twitter Agree to Delay Musk’s Impeachment on Thursday

WILMINGTON, Del., Oct. 5 (Reuters) – Elon Musk and Twitter Inc (TWTR.N) have agreed to delay the impeachment of the billionaire slated for Thursday as they try to reach an agreement to end their trial and Musk’s $44 billion purchase of the social media company, a source familiar with the lawsuit said Wednesday. Register now … Read more

Musk, Twitter could strike a deal as early as Wednesday to end the lawsuit, says an acquaintance

WILMINGTON, Del., Oct. 5 (Reuters) – Elon Musk and Twitter Inc (TWTR.N) could reach agreement to end their trial as soon as possible Wednesday, paving the way for the world’s richest person to make his $44 billion deal for the social media platform, a source familiar with the lawsuit told Reuters. Musk, who is also … Read more

US court allows Justice Dept to speed up appeal in Trump case

WASHINGTON, Oct. 5 (Reuters) – A U.S. appeals court on Wednesday voted to speed up a legal challenge to a third-party review of most of the records seized by the FBI from the home of former President Donald Trump, after prosecutors complained that the trial was hindering their investigation. The decision of the Atlanta-based U.S. … Read more

Wall St slumps as rising government bond yields disrupt equity rally

US private payrolls rise in September – ADP Twitter drops from year-to-date, Tesla drops 5% ISM Non-Manufacturing PMI 56.7 in September vs 56.9 in August Indices down: Dow 1.34%, S&P 1.74%, Nasdaq 2.31% Oct. 5 (Reuters) – US stocks fell Wednesday as a two-day rally in growth stocks was cut short by rising government bond … Read more

SWIFT drafts blueprint for central bank digital currency network

LONDON, Oct. 5 (Reuters) – Financial messaging system SWIFT has laid out its blueprint for a global central bank digital currency (CBDC) network after an 8-month experiment with different technologies and currencies. The trial, which last month involved both the national central banks of France and Germany, as well as global lenders such as HSBC, … Read more

OPEC+ heads for deep budget cuts, clash with US

VIENNA/LONDON, Oct. 5 (Reuters) – OPEC+ looks set to drastically cut oil production targets when it meets on Wednesday, limiting supply in an already tight market, despite pressure from the United States and others to more to pump. The potential cut in OPEC+ could lead to a recovery in oil prices, which fell to about … Read more

Banks Funding Musk’s Twitter Deal Suffer Huge Losses

Oct. 5 (Reuters) – Elon Musk’s turnaround in buying Twitter Inc (TWTR.N) couldn’t have come at a worse time for the banks funding much of the $44 billion deal and could face significant losses . As with any major takeover, banks would try to sell the debt to get it off their books. But investors … Read more

Musk Turns Off Course Again: He’s Ready To Buy Twitter, Build ‘X’ App

Oct. 4 (Reuters) – Billionaire Elon Musk is proposing to go ahead with his original $44 billion bid to take Twitter Inc (TWTR.N) private, security filings revealed Tuesday, calling for the termination of a lawsuit by the United States social media company that forced him to pay, whether he wanted to or not. An agreement … Read more

Analysis: Tesla can face toughest challenge ever as economy cools

SAN FRANCISCO, Oct. 4 (Reuters) – In July, Tesla (TSLA.O) Chief Executive Elon Musk said the electric car maker had no problem with customer demand, just a problem making and shipping all Model Ys and Consumers of Model 3s were ready to buy. That may no longer be true. Analysts see early signs of caution … Read more

EU approves phone charger reform, forcing Apple to adapt

BRUSSELS, Oct. 4 (Reuters) – The European Parliament on Tuesday approved new rules that will introduce a single charging port for mobile phones, tablets and cameras in the European Union by 2024, a world first expected to outpace its rivals. The vote confirms a previous agreement between EU institutions and makes USB-C connectors used by … Read more