Musk ends remote work at Twitter, warns of troubles ahead

Musk ends remote work at Twitter, warns of troubles ahead

Elon Musk has emailed Twitter employees, most working remotely, ordering them to return to the office immediately for at least 40 hours a week and warning of “difficult times ahead.” A pair of Wednesday night missives seen by The Associated Press marked Musk’s first companywide message to employees who survived last week’s mass layoffs. Many … Read more

Elon Musk on the hook to pay more than $200 million to 3 fired Twitter execs

Elon Musk on the hook to pay more than 0 million to 3 fired Twitter execs

This story was updated with a more current tally of shares from Twitter’s most recent proxy statement. When Twitter Inc.’s top executives walked out of its San Francisco headquarters Thursday, they may as well have been carrying bags of Elon Musk’s cash. Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and Vijaya Gadde, Twitter’s … Read more

Report: Elon Musk plans to cut 75% of the Twitter workforce

Report: Elon Musk plans to cut 75% of the Twitter workforce

SAN FRANCISCO — Elon Musk plans to lay off most of Twitter’s workforce if and when he becomes owner of the social media company, according to a report Thursday by The Washington Post. Musk has told prospective investors in his Twitter purchase that he plans to cut nearly 75% of Twitter’s employee base of 7,500 … Read more

US fund managers bet on poker while market wagers loom large

US fund managers bet on poker while market wagers loom large

Hundreds of hedge fund managers and traders gathered at New York’s Gotham Hall ballroom on Thursday, fixated on their big bets – in poker, not markets. The money managers were gathered for a charity tournament to play a card game that, in some circles, is taken almost as seriously as their day jobs. As … Read more

US fund managers bet on poker while market wagers loom large

US fund managers bet on poker while market wagers loom large

Hundreds of hedge fund managers and traders gathered at New York’s Gotham Hall ballroom on Thursday, fixated on their big bets – in poker, not markets. The money managers were gathered for a charity tournament to play a card game that, in some circles, is taken almost as seriously as their day jobs. As a … Read more

5 things to know before the stock market opens Friday, October 7

5 things to know before the stock market opens Friday, October 7

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, September 26, 2022. Brendan McDermid | Reuters Here are the most important news items that investors need to start their trading day: 1. Waiting for the job number After a gangbusters two days to start the week, stocks have declined … Read more

5 things to know before the stock market opens Thursday, October 6

5 things to know before the stock market opens Thursday, October 6

Traders on the floor of the NYSE, Sept. 29, 2022. Source: NYSE Here are the most important news items that investors need to start their trading day: 1. Still on shaky ground After two, rip-roaring rallies, US stock markets settled back into negative territory Wednesday. The bulls showed a little fight towards the end of … Read more

Elon Musk says Twitter will eventually be part of ‘X, the everything app’

Elon Musk says Twitter will eventually be part of ‘X, the everything app’

Elon Musk has a new plan for Twitter Inc. after giving up a legal battle and agreeing to pay $44 billion for the company Tuesday. ““Buying Twitter is an accelerant to creating X, the everything app”“ — Elon Musk That tweet was Musk’s first public statement Tuesday about the decision, which was revealed in a … Read more

Elon Musk and Twitter intend to move forward with original $44 billion deal, stock surges

Elon Musk and Twitter intend to move forward with original  billion deal, stock surges

Tesla Inc. Chief Executive Elon Musk and Twitter Inc. plan to move forward with a closing of their deal under the originally agreed-upon terms, less than two weeks before a judge was scheduled to hear a case on the disputed acquisition. Musk’s lawyers sent a letter to Twitter’s management team indicating that he was proposing … Read more

Wharton’s Jeremy Siegel accuses the Fed of making one of the biggest policy mistakes in its 110-year history

Wharton’s Jeremy Siegel accuses the Fed of making one of the biggest policy mistakes in its 110-year history

““I think we’re giving Powell too much praise. … The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.”“ —Jeremy Siegel Wharton professor Jeremy Siegel has a bone to pick with Federal Reserve Chair Jerome Powell. The longtime market … Read more