bloomberg
Elon Musk’s company-Twitter deal could come under scrutiny as Biden administration ponders security review
- US reportedly discussing possible submission Elon Musk’s Put your company under national security review.
- The U.S. government and intelligence agencies are considering the possibility of using the tool to probe Musk’s operations, and negotiations are still in the early stages.
- Among the options being considered include using the law governing the Foreign Investment Commission to see if Musk’s transactions and operations pose national security risks.
Twitter Dismisses Reports of Mass Layoffs After Elon Musk Acquisition
- Twitter Inc. facing reports Tesla Inc. TSLA CEO Elon Musk aimed to exterminate the workforce as part of the acquisition.
- Musk’s plans for Twitter reportedly include a 75% staff cut, which has cut Twitter’s current staff of 7,500 to just over 2,000.
- Twitter general counsel Sean Edgett said discussions about cost cutting and planning took place earlier this year. “Once the merger agreement is signed, that discussion is over,” he said.
washington post
Elon Musk plans to exterminate Twitter employees
- With a deadline of October 28 Elon Musk to complete the $44 billion buyout of Twitter Inc. TWTR It plans to lay off nearly 75% of the social media platform’s staff after taking over leadership, according to a new report.
- The world’s richest man told prospective investors that the deal would reduce Twitter’s headcount from 7,000 to 2,000.
- Even if Musk doesn’t buy Twitter, the company plans to cut about $800 million, or about a quarter of its workforce, by the end of 2023.
Reuters
Ralph Lauren accused of plagiarizing indigenous designs
- First lady of Mexico sues luxury brands Ralph Lauren Corporation RL Plagiarism of indigenous designs.
- In an Instagram post, Beatriz Gutierrez said the fashion label appropriated work from Mexico’s pre-Hispanic culture.
- “Hi Ralph (Lauren): I already knew you really liked Mexican design,” she said.
Vaccine makers consider raising prices for COVID-19 boosters amid falling demand
- As demand for COVID-19 vaccinations declines, vaccine makers such as Pfizer Japan Inc PFE, BIONTECH SE BNTX, Moderna, Inc. mRNAWhen Novavax Co., Ltd. NVAX Prices may go up in line with Wall Street forecasts.
- Rate hikes could be as high as three times their current levels.
- Analysts expect the US market to drop to a third of the size of the flu.
Walmart raises $215 million to settle opioid lawsuit in Florida
- walmart WMT will pay $215 million to solve opioid-related problems in Florida. As part of the deal, Walmart also agreed to distribute her 672,000 treatment kits, including the anti-overdose drug naloxone, to first responders.
- “This partnership is the latest chapter in Walmart’s commitment to combating the opioid crisis,” Walmart spokesman Randy Hargrove said in a statement.
- The retailer does not admit fraud.
Walmart looks to step up strategy in Africa despite string of setbacks
- walmart WMT It is doubling its footprint in Africa despite economic uncertainty and problems exacerbated by the COVID-19 pandemic.
- The retail giant bought a majority stake 2011, South African retailer Massmart.
wall street journal
American Airlines plans to eliminate first-class seats on international flights
- During the third quarter financial results conference call, american airlines group AAL Chief Commercial Officer Vasu Raja provided some details about the replacement of first-class international seats with new business-class suites announced last month.
- “Frankly, by deleting [first-class seats]can provide more business class seats.
benzinga
Amazon Takes Legal Action Against Fake Review Brokers
- Amazon.com, Inc. AMZN has filed legal complaints in Italy and Spain in a global effort to shut down fake review brokers.
- These two legal proceedings and 10 new U.S. lawsuits target malicious actors who operate more than 11,000 websites and social media groups to sell fake products on Amazon in exchange for money or giveaways. I am trying to create a review.
- Amazon’s first criminal complaint in Europe targets a prominent Italian broker for selling fake reviews.
- Amazon has also filed its first civil lawsuit in Spain against fake review broker Agencia Reviews.
Toyota cuts production target for FY2023 as chip supply slump continues
- Toyota Motor Corporation TMs Annual production forecast for 2023 is expected to be lower than the previous forecast of 9.7 million units.
- Global production volume in November is expected to be approximately 800,000 units (approximately 250,000 units in Japan and approximately 550,000 units overseas).
- This is 50,000 units below the monthly average production plan for October to December.
Apple and Amazon employee profiles see massive purge on LinkedIn – it’s not what you think
- Several LinkedIn Accounts claiming to be employees of Apple AAPLWhen Amazon.com, Inc. It was reportedly wiped out significantly overnight due to an initiative to ban bots from its platform.
- As of October 10, there were 576,562 LinkedIn “users” who listed Apple as their current employer. Half of those profiles disappeared the next day.
- The same thing happened with Amazon-linked LinkedIn profiles, which dropped 33% to 838,601.
The Instagram-TikTok battle intensifies as new rivals emerge like mushrooms
- of TikTok Teenagers are becoming more popular in America, Meta Platforms Inc. meta Instagram It remains a dominant force on social media.
- Piper Sandler In the fall 2022 survey, byte danceOwned by TikTok, it extends its lead as the most popular social media platform for US teens. Of those surveyed, 38% voted in favor of TikTok, compared to 33% in Spring 2022. of Snapchat Inc. snap snapchat (30%) and Instagram (20%).
- However, Instagram remains on top with 87% social media engagement, followed by Snapchat and TikTok with 83%.
Munster not worried about Meta and Google despite Snap’s disappointing Q3: ‘Long term will be intact’
- Snap Co., Ltd. The stock fell about 27% after the third-quarter earnings release.
- 4 headwinds — Ad market softening, monetization methods Apple Privacy changes, and competition from TikTok — work together to snapchat parent company top-line growth, Gene Munster Managing Partner of Loup Funds said:
- Analysts noted that Snap’s revenue growth slowed from 38% in the March quarter to 13% in the June quarter and 7% in the September quarter. He added that the stock price is pricing in negative earnings growth for the March quarter.
Google faces hefty penalties for user privacy violations in Texas from this big tech commentator
- Texas Attorney General Charges Alphabet Inc. goog Google Google He is accused of collecting facial and voice recognition information from Texans without their explicit consent.
- Ken Paxton also violated the privacy of Texans by extorting millions of biometric identifiers, such as voiceprints and facial shape records, from Texans through products and services such as Google Photos, Google Assistant and Nest Hub Max. claimed to have collected
Barclays fined £50m in connection with Qatar financing in 2008
- The Financial Conduct Authority (FCA) has fined £50m for failing to disclose certain arrangements Barclays has agreed with Qatari companies as part of the capital raises announced in June 2008 and October 2008. is imposed.
- Regulators called the bank’s actions “reckless” and lacking integrity.
- The Superior Court will decide whether to uphold the FCA’s decision against Barclays and whether there are any other actions for the FCA to take.
