Musk Lines Up 46.5 Billion for Twitter Bid in Financing Push
Elon Musk disclosed 46.5 billion in financing from Morgan Stanley and banks including Barclays Bank of America Societe Generale Mizuho BNP Paribas and MUFG to back a potential tender offer for Twitter at 54.20 per share. He owns about 9 percent of Twitter and could push a takeover with shareholder pledges while Twitter considers its poison pill defense.
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Bitcoin miners move from coal to wind power in Texas
Marathon Digital Holdings relocated thousands of bitcoin miners from a Montana coal plant to a Texas wind farm amid pressure to curb energy use. The firm plans to expand to about 199,000 online by next year as debates over crypto’s electricity demand intensify.
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Stocks slide as Fed signals tougher inflation fight
Wall Street erased early gains with the S&P 500 down 1.5 percent the Dow off 1 percent and the Nasdaq falling 2.1 percent after Fed Chair Powell urged faster rate hikes. American Airlines aims to profit in Q2 as travel rebounds while Tesla reports strong sales and boosted profits. CNN streaming service to shutdown end of April as Discovery reshapes streaming strategy.
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Powell reinforces push for faster Fed rate hikes
Fed Chair Jerome Powell said the central bank must move quicker to curb inflation, signaling aggressive policy moves likely at the May 3-4 meeting. He floated front-loading and a possible half-point increase, noting higher borrowing costs for homes cars and other big purchases.
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