Elon Musk has sold millions more shares in Tesla, according to three separate forms filed with the Securities and Exchange Commission this month. CEO Musk sold 19.5 million shares of the electric vehicle maker, worth $3.95 billion, from Nov. 4 to Nov. 8, the filings show. The share sell-off comes after Musk took over social media platform Twitter in…
Elon Musk Sells Another $3.95 Billion Worth of Tesla Shares After Twitter Takeover
November 9, 2022
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Thailand Scraps Foreign Land Ownership Proposal, Cites ‘Sensitive’ Issue
Thailand has withdrawn a proposal allowing foreigners to buy up to one rai—the Thai equivalent of 0.4 acres—of land in Thailand, a government official said Tuesday, despite the cabinet’s previous approval of the plan. Thailand’s Interior Minister Anupong Paojinda said the proposal had been removed from the cabinet agenda because it is a “sensitive” matter…
Seniors Feel Cheated as Inflation Dims Their Golden Years
For close to 47 million Americans, it was the best of times, and it was the worst of times. Indeed, the current cost-of-living crisis devastating millions of seniors nationwide has forced many to look back at the choices they made throughout their prime working years. Did they save and invest enough? Did they clock in…
Investors Rush to Safety of Cash at Fastest Pace Since Pandemic Stock Rout
November 5, 2022
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Business & Marketseconomic recessioneconomyhigh inflationinflationInvestmentMarketsrecessionS&P 500stock market crashU.S. interest rate hikesUSUS Dollar
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With the Federal Reserve maintaining a hawkish stance, investors have been fleeing toward the safety of cash at a record pace. In the week through Nov. 2, investors poured in $62.1 billion into cash, a note from Bank of America (BofA) said citing EPFR Global Data. Since the beginning of October, fund flows into cash…
5 Ways to Navigate Today’s Investing Challenges
Pandemic repercussions, a war in Europe, disrupted supply chains, the Great Resignation, rampant inflation, and a potential recession—there are many things threatening the ability to invest at the moment. With so many uncontrollable challenges, many investors are unsure how to proceed without putting their wealth at even greater risk in an uncertain future. If you’re…
Is Following ESG Criteria Breaking the Law?
Analysis One problem for CEOs who direct their companies to follow the goals of environmental, social, and governance (ESG) criteria is that in doing so, they may be breaking the law. According to legal experts, ESG initiatives can cause companies to break antitrust, civil rights, and Employee Retirement Income Security Agency (ERISA) laws. “The way…
BP Reports $8.2 Billion Profit in 3rd Quarter
British oil giant BP announced a further share buyback on Tuesday as it reported an $8.2 billion (£7.1 billion) profit for the third quarter. The third quarter underlying replacement cost profits—a measure that oil companies often use—were slightly down from the second quarter’s $8.5 billion (£7.4 billion) owing to dropping oil and gas prices, but…
Jack Dorsey Retains Stake in Twitter, Saving Elon Musk $1 Billion
November 1, 2022
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Twitter co-founder and former CEO Jack Dorsey has retained his 2.4 percent stake in the social media platform after it was acquired by Tesla CEO Elon Musk, according to a new filing with the Securities and Exchange Commission. According to the filing, Dorsey retained more than 18 million shares in Twitter, valued at about $1 billion when the company became private. The…
US Natural Gas Prices Tumble, as Domestic Production Increases Amid Mild Weather
U.S. natural gas prices have tumbled this fall since hitting a high over the summer due to increased production, easing cost fears for millions of American households this winter. Natural gas fell more than 40 percent, after demand nearly reached a 23-year historical high at the end of August, reported The Wall Street Journal. The…
OPEC Raises Long-Term Oil Demand View, Calls for Investment
October 31, 2022
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ABU DHABI—OPEC raised its forecasts for world oil demand in the medium-and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to meet this demand despite the energy transition. The view from the Organization of the Petroleum Exporting Countries, in its 2022 World Oil Outlook, contrasts with that…
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