the wall street journal
Elon Musk’s Takeover Expected to Get Twitter Shareholder Approval by “Wide Margin” Today
- Shareholders of Twitter Inc. TWTR are likely to approve the $44 billion takeover led by Tesla Inc. (NASDAQ: TSLA).
- CEO Elon Musk – a proposal that the billionaire entrepreneur no longer wants to carry out.
- Early trends indicate investors are approving the deal by a wide margin, according to a Wall Street Journal report citing people familiar with the matter. According to the Journal, the shareholders’ meeting is scheduled for Tuesday at 1 p.m. EDT.
India wins $20 billion tech investment in semiconductor supplier Apple, Vedanta begins journey as chipmaker
- Vedanta Ltd and Apple Inc. AAPL supplier Hon Hai Precision Industry Co Ltd HNHAFoperating as Foxconn, aims to invest $19.5 billion to set up factories for the production of semiconductors and displays in Gujarat, India.
- Vedanta Chairman Anil Agarwal tweeted about the new factory describing it as the onslaught of India’s journey from Chip Taker to Chip Maker.
US judge dismisses shareholders’ lawsuit over AstraZeneca’s COVID-19 vaccine disclosures
- A US judge has dismissed a shareholder lawsuit Astra Zeneca Plc AZN hid issues in the development of its COVID-19 vaccine, making it unlikely to gain FDA approval.
- The judge said the proposed action did not identify any misleading statements or adequately allege that AstraZeneca intended to defraud shareholders.
Google is fighting two separate class action suits in UK and Dutch courts with claims of 25 billion euros
- A law firm, on behalf of publishers, has sought up to 25 billion euros ($25.4 billion) in damages from Alphabet Inc. GOOG GOOGL
- Google for its digital advertising practices in two lawsuits in UK and Dutch courts.
- Google’s advertising technology has come to the attention of antitrust regulators following complaints from publishers.
Intel slashes Mobileye IPO valuation as chipmakers cut outlook citing uncertain macro environment
- Intel Corporation INTC cut expectations for its initial public offering of Mobileye amid a broader stock market downturn and may delay the sale of shares until 2023 from mid-2022, pending recovery.
- Intel expects the IPO to value the autonomous technology business at up to $30 billion, up from an initial valuation of more than $50 billion.
Nintendo shares 6% jump as ‘Splatoon 3’ debuts on Switch in Japan
- Shares of a Japanese multinational video game company Nintendo Co., Ltd. NTDOY jumped nearly 6% in intraday trade in Japan after its family-friendly online shooter Splaton 3 became Switch’s biggest launch with 3.45 million units sold in the Asian country during its opening weekend.
- The report states that the long-awaited release ranked number 1 in initial domestic sales of any Switch title, surpassing Animal Crossing: New Horizons 1.88 million units. He said Animal Crossing had significantly boosted Nintendo’s software sales during the COVID-19 pandemic and helped sustain hardware demand for the platform.
New York Times
Amid slowing trading, Goldman Sachs to lay off some 500 jobs
- Goldman Sachs Group Inc. GS will cut jobs starting this month as part of the bank’s annual performance reviews suspended during the pandemic.
- The bank typically cuts around 1% to 5% of its staff each year, and the 2022 cuts will likely be on the lower end of that range.
- Goldman’s workforce has reached 47,000, and a 1% workforce reduction would mean a reduction of about 500 bankers.
Amid heat over workplace safety concerns, Amazon loses workplace safety lead
- Amazon.com Inc. AMZN the senior executive overseeing occupational health and safety leaves in October.
- Heather MacDougall, who joined Amazon in 2019 from the Occupational Safety and Health Review Board, will leave effective October 7 to pursue other opportunities outside of Amazon.
- Becky Gansert, vice president of global specialty execution, will succeed MacDougall as head of global occupational health and safety.
Starbucks will unveil its reinvention plan today
- Starbucks Corp. SEX is set to reveal a plan for reinvention today as he battles changing consumer behavior and the call for unionization in the United States
- The plan is the work of outgoing interim CEO Howard Schultz, who Laxman Narasimhan will succeed in April.
Bitcoin Spikes, Ethereum, Dogecoin Drop: Why This Analyst Warns Not To Get “Too Cozy”
- Bitcoin climbed Monday evening as the global cryptocurrency market cap rose 0.4% to $1.1 trillion.
- Justin Bennett warned cryptocurrency investors not to get too comfortable as the S&P 500 is “doing the same thing it has been doing all year.”
- “The only difference is the duration of this retest, which just means more trapped longs if it repeats,” the trader said, sharing an index tracking chart.
KKR drops $14.5 billion takeover bid for Australian Ramsay Health Care
- Talks about KKR & Cie KKR-consortium led by the purchase of an Australian hospital operator Ramsay Health Care Ltd. RMSYF RMYHY have collapsed.
- The consortium sent a letter reconfirming that it would not offer A$88 per share and could not increase its alternative offer.
- In April of this year, a KKR-led consortium offered to buy Ramsay Health Care Ltd. for approximately $14.9 billion.
Tesla has access to all the battery cells it needs for the first time, says senior executive
- COVID-19 has highlighted the issues EV manufacturers face when the supply chain is challenged. Tesla Inc. TSLA seemed to have taken risk out of the equation when it came to its battery power.
- For the first time, according to Business Insider, Martin Vicha, vice president of investor relations at Tesla, has access to all the battery cells needed.
- He made the comments at an invitation-only Goldman Sachs technical conference.
Nio rises 18% on bullish analyst coverage: Hong Kong stocks mixed at Xi-Putin meeting, US inflation data in focus
- Actions of the electric vehicle manufacturer Nio jumped 18% in Hong Kong on Tuesday morning on positive analyst coverage, although domestic stocks opened on a mixed note.
- German Bank analyst Edison Yu named Nio its top pick among Chinese electric vehicle makers. At the same time, BofA Securities reiterated its “buy” rating and raised its price target based on healthy momentum for its offerings.
US flea law is gaining momentum; Micron inaugurates chip manufacturing in the United States
- Micron Technology Inc. IN opened its state-of-the-art memory manufacturing facility in Boise, Idaho. It will be the first new memory manufacturing plant in the United States in 20 years.
- CEO Sanjay Mehrotra said, “The investment, made possible by planned grants and credits provided by the CHIPS and Science Act, also enhances Micron’s supply chain resilience and will establish new strategic capability for the United States. United.
The SEC accused VMWare of fraud but settled for an $8 million penalty
- The Securities and Exchange Commission announced that it had indicted the cloud computing giant VMware Inc. vmw for “misleading investors about its order book management practices.
- The purported backlog management practices allowed the company to boost revenue in future quarters by delaying product shipments to customers, masking its slower performance compared to its projections.”
- The SEC has already settled with just an $8 million penalty for the company, which currently has a market capitalization of $52 billion.
Honda plans to accelerate sales of electric motorcycles
- Honda Motor Co Ltd HMC plans to launch more than ten electric motorcycle models globally in the next three years. It aims to achieve carbon neutrality for its motorcycles by 2050.
- Thus, from 2023, Honda will introduce flex-fuel (gasoline-ethanol blend) models in India and Brazil.
UBS will increase its dividend by 10%; Expects redemptions to exceed $5 billion
- UBS Group AG UBS is seeking to increase its dividend by 10% to $0.55 per share, adding that its board of directors intends to propose at the 2023 annual meeting and expects its share buybacks in 2022 exceed $5 billion.
- As of September 9, UBS has repurchased $4.1 billion in shares.
- UBS will guide next year’s return on capital with fourth quarter earnings and expects to “continue to have share buybacks and a phased dividend.”
Photo by Gerd Altmann from Pixabay