Business

Pertaining to and impacting businesses, markets and the economy

 
France issues arrest warrant for Carlos Ghosn
France has issued an arrest warrant for Carlos Ghosn, the fugitive auto executive who used to lead Renault (RNLSY)-Nissan (NSANF). France has issued an international arrest warrant for Carlos Ghosn, the auto tycoon who jumped bail in Japan and fled to Lebanon in a sensational getaway in 2019, being smuggled out of Japan in an audio equipment case on a private jet.
 
Disney will no longer enjoy special tax status
On Thursday, Florida legislature passed a bill to revoke Disney's special legal setup around its Orlando-area theme parks. The bill means that Disney would effectively no longer be permitted to operate as an independent government in these areas.
 
Netflix shares drop 26% in the wake of subscriber loss
According to a quarterly earnings report released Tuesday, Netflix's customer base fell by 200,000 subscribers during the January-March period this year. Shares of Netflix have dropped over 25% in extended trading amid concerns that the streaming service may have seen its best days.
 
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.