MarketWatch: Twitter shares jump 5% in premarket amid reports of Musk talks
Twitter Inc. ...
Twitter Inc. TWTR, +3.93% shares rose 5% premarket Monday after Reuters said the social media site is set to accept Tesla Inc. TSLA, -0.37% CEO Elon Musk's "best and final" offer to buy the company. Musk said last week he had lined up $46.5 billion in financing to back his bid for the company announced on April 14, when he offered $54.20 a share. Musk has criticized the company for failing to live up to its potential as a platform for free speech. But Musk himself has used Twitter to start a spat with the Securities and Exchange Commission, with a famous tweet in which he claimed he had "funding secured" to take Tesla private. And Twitter enacted a poison pill that would make it expensive to take full control of the company. Reuters cited unnamed people who are familiar with the matter and said an announcement could come as early as today. Twitter shares are up 13% in the year to date, while the S&P 500 SPX, -2.77% has fallen 10%.
Russia’s War Is Turbocharging the World’s Addiction to Coal
(Bloomberg) The world’s addiction to coal, a fuel many thought would soon be on the way out, is ...
(Bloomberg) The world’s addiction to coal, a fuel many thought would soon be on the way out, is now stronger than ever. In Germany and Italy, coal-fired power plants that were once decommissioned are now being considered for a second life. In South Africa, more coal-laden ships are embarking on what’s typically a quiet route around the Cape of Good Hope toward Europe. Coal-burning in the U.S. is in the midst of its biggest revival in a decade, while China is reopening shuttered mines and planning new ones.
Oil joins tumbling commodities as China COVID spread triggers fresh demand worries
Oil prices tumbled on Monday, amid fresh worries that spreading COVID cases and more...
Oil prices tumbled on Monday, amid fresh worries that spreading COVID cases and more lockdowns in China will hurt demand. That has added to concerns that Federal Reserve tightening could also weaken prospects for the commodity.
West Texas Intermediate crude for June delivery tumbled 5%, or $5.11, to $96.96 a barrel. On Friday, oil settled 1.7% lower at $102.07 a barrel on the New York Mercantile Exchange, and fell about 4.1% for the week, FactSet data show.
June Brent crude fell 4.5%, or $4.86, to $101.27 a barrel. The contract fell nearly 1.6% to $106.65 a barrel on ICE Futures Europe on Friday, falling 4.5% for the week.
May gasoline slid 4.3% to $3.162 a gallon, after losing 2.3% last week. May heating oil fell 2.1% to $3.854 a gallon, after gaining 2.2% last week.
May natural gasNGK22, +0.05% rose 0.6% to $6.575 per million British thermal units, following a 10.5% slump last week.
India’s exports to Russia are costing businesses a fortune
India’s trade ties with its long-time ally Russia have deepened since the Ukraine war began. Western...
India’s trade ties with its long-time ally Russia have deepened since the Ukraine war began. Western sanctions on Russia have resulted in a surge in crude oil prices and this, combined with an existing shortage of vessels, has made shipping more expensive. Ships carrying around 3,000 containers from India to Russia are now stuck across ports in Europe and West Asia, the Mint newspaper has reported.
