Elon Musk has secured $46.5 billion in financing to fund his Twitter takeover bid, according to a Thursday regulatory filing. The Tesla tycoon is also considering mounting a tender offer — which would involve trying to buy up stock from existing shareholders at $54.20 per share — in order to grow his stake in Twitter, … Read more
Surging inflation will continue to hammer US households in the coming months – with one consumer-goods giant warning of further price increases and another warning Americans may cut back on purchases. The latest results from Swiss-based Nestlé, whose brands include Nescafe, Gerber and Purina, and US-based Procter & Gamble, the maker of Tide and Gillette … Read more
Hedge fund billionaire Bill Ackman has quickly given up on Netflix. The head of Pershing Square Capital Management is $400 million poorer after selling the 3.1 million shares of Netflix that he bought for $1.1 billion in January. Shares of Netflix nosedived by 35% on Wednesday after the streaming service announced that it had shed … Read more
Former McDonald’s CEO Ed Rensi said companies have “no business” being in politics – and has now launched a conservative initiative to fight “woke” corporate policies. The 78-year-old — who led the Golden Arches from 1991 to 1997 — speaheaded The Boardroom Initiative to push back against boardrooms of American corporations that have become too … Read more
New York’s world-renowned hotel and tourism industry has a steep climb to bounce back to its pre-pandemic glory days — with hotel business travel revenue expected to be 55% lower in the Big Apple market this year than in 2019, a sobering new industry analysis reveals. The report by the American Hotel & Lodging Association … Read more
Customers at nail salons may have to keep that mask on — but not just for COVID. Citing the economic impact of the pandemic, Gov. Kathy Hochul’s administration is postponing for six months a rule requiring nail salons to install ventilation systems to help prevent manicurists and customers from inhaling harmful chemicals used in nail … Read more
The goodies at Goldman Sachs keep going away. The Wall Street giant helmed by David Solomon is quietly pulling yet another pandemic perk: free daily car rides to and from the office, which the bank began handing out two years ago as COVID cases and crime surged, The Post has learned. The bank will still … Read more
Tesla surged past Wall Street estimates for quarterly revenue on Wednesday after the electric-vehicle maker raised prices in response to inflation, offsetting the impact of a Shanghai factory shutdown. Revenue rose to 81% to $18.76 billion in the first quarter ended March 31, from $10.39 billion a year earlier. Analysts had expected $17.8 billion, according to … Read more
Workers at an Apple store in Atlanta plan to become the first in the United States to file for a union election, Bloomberg Law reported on Wednesday. The proposed union would include 107 workers at an Apple store in Cumberland Mall in northwest Atlanta, the report said. The effort is backed by the Communications Workers … Read more
An attempt to muzzle Elon Musk during his ongoing legal battle with Tesla shareholders over his infamous 2018 “funding secured” tweet could improperly limit his ability to discuss his ongoing bid to buy Twitter, the billionaire’s legal team argued in a new court filing Wednesday. Musk’s attorney, Alex Spiro, slammed the plaintiffs’ motion for temporary … Read more