Bloomberg Elon Musk sowed new chaos into the market over his takeover bid for Twitter Inc, first claiming his offer was “temporarily on hold” and then maintaining he is “still committed” to the deal, sending the social media giant into a tailspin. The billionaire initially sent an early tweet saying the $44 billion deal is pending until he receives more ...

  Bloomberg Amazon.com Inc founder Jeff Bezos accused President Joe Biden of “misdirection” on Twitter in response to the US leader’s tweet saying inflation could be tamed by making wealthy corporations “pay their fair share.” The exchange began with Biden’s tweet: “You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share.” Amazon, which paid ...

  Bloomberg Ford Motor sold more shares of Rivian Automotive Inc, offloading more than $400 million worth of stock in the electric car maker since the end of a lockup this week. The US automotive giant sold 7 million shares of Rivian stock at $26.88 each on Friday, according to a filing, cutting its stake in the company to nearly ...

  Bloomberg Michael Gove, the UK minister responsible for Boris Johnson’s flagship policy to boost disadvantaged regions, appeared to abandon a key aim of the project: to build 300,000 homes a year. Speaking to the BBC, Gove said the government will “do everything we can” to increase house building, but added “it’s no kind of success simply to hit target ...

  Bloomberg Europe and parts of the US are set for a sweltering and dry summer this year, posing risks for crops and boosting demand for energy for cooling at a time when prices of commodities are already running high. Scientists at the Copernicus Climate Change Service, who published their seasonal outlook on Friday, said hotter and drier weather is ...

  Bloomberg Tesla Inc can’t escape a trial over claims the automaker is responsible for the death of a Florida teenager who crashed a Model S into a wall at 116 miles an hour in 2018. A federal judge’s ruling paves the way for a trial in July, the first time Tesla will face a jury in litigation over a ...

  Bloomberg South Africa must accelerate plans to generate more electricity itself, buy more energy from private producers and make it easier for power-hungry mining companies to build their own plants, according to a draft economic policy document compiled by the nation’s governing party. Projects outlined in the government’s Integrated Resources Plan won’t be sufficient to end rolling blackouts, and ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) on Friday reported its first-quarter 2022 financial results, recording revenues of AED5.068 billion and net profit of AED691 million. Dewa’s first-quarter revenue increased by 15% to AED5.068 billion, driven by an increase in consumption across all sectors and the transition to a normalised tariff structure at the beginning of this ...

ABU DHABI / WAM The Opec Monthly Oil Market Report (MOMR) has maintained its positive momentum with regard to the UAE’s economic recovery. The MOMR stated that the economic outlook remained positive, thanks to improving economic conditions supported by the easing of Covid-19-related constraints and the improvement in fossil fuel prices. The report indicated that the recent S&P Global UAE ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Ruler of Abu Dhabi, on Friday performed the funeral prayer for late His Highness Sheikh Khalifa bin Zayed Al Nahyan, at the Sheikh Sultan bin Zayed the First Mosque in Abu Dhabi. Performing the prayer as well were Their Highnesses the Sheikhs of the Al Nahyan family. Everyone ...