Twitter denies Musk’s assertions that he was duped
Elon Musk claimed in a court document filed in Delaware that he was duped into signing the agreement to purchase the social media business, but on Thursday—Twitter Inc (TWTR.N) rejected this assertion, calling it unrealistic and untrue. The allegations were made by Musk in a countersuit that was filed last Friday and was publicly disclosed […]
Twitter questions centre on Musk’s efforts to scuttle a $44 billion deal
Elon Musk’s $44 billion takeover bid for Twitter Inc. (TWTR.N) is being investigated by Twitter Inc. (TWTR.N), according to legal experts, who are also trying to determine why he backed out of the transaction. As per the documents filed over the last two days in the Delaware Court of Chancery, Twitter served dozens of civil […]
U.S. banks are struggling with a trillion-dollar reverse repo
The massive amounts of overnight cash stored at the Federal Reserve each day might cause banks a lot of trouble by straining their accounting records and limiting their ability to lend. A wide range of market participants has flocked to the Fed’s reverse repurchase facility (RRP), which has helped clean up excess flexibility in the […]
Share markets fluctuate, dollar loses ground to the yen
On Monday, stock markets were in a shaky mood as poor Chinese economic data fueled concerns about the sustainability of Wall Street’s advance. At the same time, the dollar dropped against the yen as traders were compelled to exit abruptly unfavourable short positions. As new viral outbreaks weighed on demand, China’s official industrial activity indicator […]