Business

Pertaining to and impacting businesses, markets and the economy

 
Alex Jones’ InfoWars, IWHealth, & PrisonPlanetTV file for bankruptcy
American radio host Alex Jones' three businesses, InfoWars, IWHealth, and PrisonPlanetTV, have filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Southern District of TX. Jones filed for bankruptcy after losing several defamation lawsuits over his claims that the 2012 Sandy Hook elementary school shooting was a hoax. Jones was found liable for damages.
 
Twitter adopts ‘poison pill’ defense
On Friday, Twitter said its board of directors has unanimously adopted a "poison pill" defense in response to Tesla CEO Elon Musk's proposal to buy the company. Twitter said the move, formally called a "limited duration shareholder rights plan," aims to enable its investors to "realize the full value of their investment" by reducing the likelihood that any one person can gain control of the company without either paying shareholders a premium or giving the board more time.
 
Elon Musk’s offer worries Tesla investors
In a regulatory filing on Thursday, Twitter Inc. stated that Musk, currently one of the company's largest shareholders, had proposed buying all remaining shares at $54.20 per share, an offer worth over $43 billion. Earlier in the day, Vanguard disclosed that it had increased its stake in Twitter, moving it into the position of the company's largest outside shareholder.
 
Musk offers to buy Twitter for $43 billion
Tesla CEO Elon Musk, who is currently the biggest shareholder of Twitter, has offered to buy all remaining shares at a rate of $54.20 per share, valuing the deal at over $43 billion. The proposition, which outstrips the company's current share value of $46.83, has been received by Twitter and is currently under consideration as to whether the sale is in the best interests of the shareholders or whether it will continue as a publicly-traded entity.
 
Pressure increases on Europe for total Russian energy embargo
Pressure is mounting for the European Union to cut off Russian oil and gas imports. A complete energy embargo would likely throw the EU into recession and have serious geopolitical ramifications.
 
JetBlue’s offer to buy Spirit could kill merger with Frontier
JetBlue Airways Corp has tabled a $3.6 billion bid to acquire the low-cost carrier Spirit Airlines. The offer could potentially derail the $2.7 billion merger plan between Spirit and Frontier Group Holdings announced earlier this year.
 
Amazon strikes deals with 3 rocket firms for satellite launches
On Tuesday, Amazon announced it had struck deals with three rocket companies to launch their internet satellites, calling it "the largest commercial procurement of launch vehicles in history." The tech giant has 83 launches planned over five years as part of its Project Kuiper Internet satellites mission statement.
 
Elon Musk invests roughly $2.89 billion in Twitter
Tesla owner Elon Musk has taken a 9.2% stake in Twitter. Having accumulated over 3,486,938 Twitter shares worth $2.89 billion, Musk now stands as Twitter's largest stakeholder.
 
Hertz to buy 65,000 electric vehicles from Polestar
On Monday, Hertz announced that it had signed a deal to purchase up to 65,000 electric vehicles from Swedish carmaker, Polestar over the next five years. In a joint press release, the car rental giant stated it will initially be ordering the Polestar 2 model.
 
Lithuania ceasing all Russian gas imports
On Saturday, Lithuania's energy minister stated the country will no longer be importing Russian gas to meet its domestic needs. Lithuania became the first country of the European Union's 27 nations to break its energy dependence on Moscow.