• Elon Musk Says His Deal to Buy Twitter Is on Hold0

    [ad_1] Elon Musk said his deal to buy Twitter was on hold, raising questions about the takeover and sending shares of the messaging service lower, but he later added that he remains committed to the acquisition. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of

    READ MORE
  • Hong Kong Spends $202 Million to Defend Currency Peg0

    [ad_1] Hong Kong dipped into its foreign-exchange reserves for the first time in three years to defend its longstanding dollar peg, acting to shore up the local currency against a surging greenback. The Chinese territory’s de facto central bank, the Hong Kong Monetary Authority, on Thursday said it had sold U.S. dollars to buy 1.586

    READ MORE
  • Philip Morris Coughs Up for U.S. Re-Entry0

    [ad_1] Fourteen years after it was spun out from Altria , Philip Morris International wants to get back into the U.S. market—this time with a smoke-free business. The tobacco giant, which distributes Marlboro cigarettes outside America, has made a $16 billion all-cash offer for Swedish Match, a Stockholm-based company that makes Zyn oral nicotine pouches.

    READ MORE
  • Disney Reports Jump in Disney+ Subscribers in Latest Quarter0

    [ad_1] Walt Disney reported better-than-expected subscription numbers for its Disney+ streaming service in the most recent quarter, avoiding a slowdown that dogged streaming rival Netflix Inc. For the company’s fiscal second quarter, Disney reported 7.9 million new Disney+ subscribers to reach 137.7 million subscribers, up from 129.8 million in the prior quarter. Analysts polled by

    READ MORE
  • Rivian CEO Says Its Chip-Shortage Problems Will Ease This Year0

    [ad_1] Electric-vehicle startup Rivian Automotive maintained its production forecast for 2022, with executives saying the supply-chain problems that have stifled its factory output in recent months are expected to ease later this year. Rivian, which reported quarterly results after the market close Wednesday, said revenue for the first quarter was $95 million, below Wall Street

    READ MORE
  • Inflation Stays in the Heights0

    [ad_1] The “transitory” inflation crowd took another beating on Wednesday, as April’s expected decline in the rate of increase in the consumer-price index (CPI) turned out to be disappointing. If this means we’ve reached “peak” inflation, we’re merely fallen from Mount Everest to K2. The pace of inflation slowed 0.3% in the month, but most

    READ MORE