Company Highlights: Musk Buys Twitter and Amazon Union
Elon Musk buys Twitter for 44 billion dollars and will privatize the company
SAN FRANCISCO (AP) — Elon Musk struck a deal to buy Twitter for about $44 billion on Monday, promising a more lenient touch to control content on the platform where he promotes his interests, attacks critics and speaks out. on a wide range of issues to over 83 million followers. The outspoken CEO of Tesla, who is also the richest person in the world, said he wanted to buy and privatize Twitter because he thinks it is not living up to its potential as a platform. form for freedom of expression. The risk is that Musk takes his hands-off approach too far, potentially alienating users and advertisers. Shares of Twitter Inc. rose 5% on Monday to $51.70 per share, below the $54.20 he offered for the company.
Amazon syndicate could face a tough road after victory
NEW YORK (AP) — The day after their hard-won labor victory, Amazon workers in New York’s Staten Island borough popped champagne, cheered their victory and danced in celebration. But their jovial attitude will be tested by a company that seems to have to drag its feet at the negotiating table. The nascent Amazon Labor Union, or ALU, said it wants longer breaks for warehouse workers, more time off and a significantly higher minimum hourly wage of $30, up from just over $18. currently at the Staten Island plant. To achieve this, the base union would need to negotiate a contract with Amazon that both parties, as well as union members, would agree to.
Wealthy trio return to Earth after charter trip to space station
CAPE CANAVERAL, Fla. (AP) — Three wealthy businessmen have returned to Earth with their escort of astronauts after an expensive trip to the International Space Station. SpaceX brought them back on Monday, concluding a 17-day charter flight that marked the first time NASA opened its space hatches to tourists. The trip cost the trio $55 million each. Their stay was supposed to last just over a week, but bad weather kept the visitors in orbit almost twice as long as expected. Houston-based Axiom Space handled travel logistics for its three paying customers. The company plans a second flight next spring.
Buffett will auction one last private lunch for charity
OMAHA, Neb. (AP) — The world’s most expensive lunch will go on sale again this spring when investor Warren Buffett auctions off a private meal to raise money for a California homeless charity one last time. Buffett, CEO of Berkshire Hathaway, hosted the online auction once a year for 20 years before the pandemic began to raise money for the Glide Foundation, which helps homeless people in San Francisco. The auction has been on hiatus for two years. Buffett has raised nearly $34.5 million for the charity over the years. Many of the past winners were investors who revere Buffett for his stellar track record of finding undervalued companies and stocks to buy. Bidding begins June 12.
County grants approval for Amazon’s propeller-shaped headquarters tower
FALLS CHURCH, Va. (AP) — Arlington County Council has unanimously approved plans for Amazon to build a unique propeller-shaped tower as the centerpiece of its emerging second headquarters in North Carolina. Virginia. Amazon announced plans for the 350ft tower last year. It will support a second headquarters for Amazon which is expected to accommodate more than 25,000 workers when completed. The Helix stands out among several office towers approved in redevelopment plans. The spiral design features a passable ramp wrapping around the building with trees and greenery planted to resemble a mountain hike. The County Council approved the project at its meeting on Saturday.
Ex-German Chancellor Schroeder urged to quit Scholz party
BERLIN (AP) — The co-leader of German Chancellor Olaf Scholz’s party says former chancellor Gerhard Schroeder should leave the party. Schroeder’s ties to the Russian energy industry have left him increasingly isolated at home. One of the two co-leaders of Scholz’s centre-left Social Democrats said in a radio interview on Monday that “Gerhard Schroeder has for many years only acted as a businessman.” Saskia Esken also said that Schroeder “makes his money working for Russian state enterprises”. Esken responded when asked if Schroeder should leave the party that “he should”.
China promotes retreating coal for emissions reduction efforts
BEIJING (AP) — China is promoting coal power as the ruling Communist Party attempts to revive a sluggish economy, prompting warnings that Beijing is delaying efforts to curb carbon emissions that are altering the climate from the world’s largest source. According to reports, official plans are to increase coal production capacity by 300 million tonnes this year. This is equivalent to 7% of last year’s production of 4.1 billion tonnes. China is one of the biggest investors in wind and solar, but jittery leaders have called for more coal-fired power after economic growth plummeted and shortages caused blackouts and factory closures. Russia’s attack on Ukraine has added to concerns that foreign oil and coal supplies could be disrupted.
Otis elevators rethink business in Russia after war in Ukraine
FARMINGTON, Conn. (AP) – Elevator maker Otis Worldwide Corp. reassessing his future in Russia amid the ongoing war in Ukraine. Otis chief executive Judith Marks spoke on an earnings conference call with industry analysts on Monday. She says the company is discouraged by the escalating crisis and is weighing the best ownership structure for the company, whether with Otis or elsewhere. The company said its operations in Russia accounted for about 2% of its 2021 revenue, based primarily on sales of new equipment. In March, Otis announced that he would not take new orders for elevators and escalators in Russia or make new investments in the country.
The S&P 500 rose 24.34 points, or 0.6%, to 4,296.12. The Dow Jones Industrial Average added 238.06 points, or 0.7%, to 34,049.46. The Nasdaq gained 165.56 points, or 1.3%, to 13,004.85. The Russell 2000 Small Business Index rose 13.54 points, or 0.7%, to 1,954.20.
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