Author: Press Room

Even Musk has acknowledged that at times he has shot himself in the foot with his humor and active tweeting. Last week, he told BBC that he probably “should not tweet after 3:00 a.m.””Have I shot myself in the foot multiple times? Yes,” Musk said. “If you’re gonna tweet something that maybe is controversial, save it as a draft then look at it the next day, and see if you still want to tweet it.” In the past, Musk has said he’s prone to tweeting from the toilet.”I’m tweeting more or less stream of consciousness,” he said at a TED Talk.…

Just two years ago, BuzzFeed News was lauded for its first Pulitzer award for investigative work using satellite imagery to identify the infrastructure built by the Chinese government for the mass detention of Muslims.Mark Schoofs, then editor-in-chief, described the work — one of a series of award-winning articles that carved out a reputation for pioneering investigative work at the group — as an “example of innovative forensic analysis and creative reporting”.Schoofs on Thursday took to Twitter with a simple response to the news that BuzzFeed had axed his old news division as part of a drastic plan to slash costs…

The abortion rights community and its allies in the Biden administration secured a striking victory from the conservative Supreme Court with an order Friday night that stopped restrictions on medication abortion drugs from taking effect. The Supreme Court’s brief, unsigned order came in an emergency dispute over lower court rulings that would have curtailed access to the drug, mifepristone. At the request of the Justice Department and a mifepristone manufacter, the high court placed a hold – known as a stay – on the lower court rulings while the appeals process plays out. Only Justices Clarence Thomas and Samuel Alito…

Shares of Tesla Inc. TSLA advanced 1.28% to $165.08 Friday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ Composite Index COMP rising 0.11% to 12,072.46 and the Dow Jones Industrial Average DJIA rising 0.07% to 33,808.96. The stock’s rise snapped a three-day losing streak. Tesla Inc. closed… Read the full article here

Gold appears to be stalling as it contends with formidable resistance at $2050-$2075 per ounce—the area of the 2020 and 2022 highs. But if gold could stay in the upper end of its three-year trading range, then this timeout could be the last one before the metal blasts off later this year. To review, my work generated a Buy signal at $1675 on Nov. 8, 2022, as reported in that day’s Institutional View. When gold reached a 2.5-year trendline resistance in the $1950 area, I recommended that clients sell half of their position, as reported in the Jan. 26 Institutional…

By Ed Frankl U.K. retail sales fell more than expected on month in March, reflecting that cost-of-living pressures from high inflation are weighing on household spending. Retail sales volumes dipped 0.9% in March from the previous month, compared with a downwardly revised increase of 1.1% in February, data from the Office for National Statistics… Read the full article here

© Reuters. FILE PHOTO: The General Electric logo is pictured on working helmets during a visit at the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File Photo/File Ph (Reuters) – General Electric (NYSE:) Co’s workers have ratified a two-year contract extension that provides for a 12% rise in wages, their union said on Wednesday. The contract extension, which covers about 3,000 American workers of GE, will also ensure labor protections after the spinoff of the company’s aerospace and energy divisions, according to the International Union of Electric Workers – Communications Workers…

By Laila Kearney NEW YORK (Reuters) -Oil prices slid by about $2 a barrel to their lowest level since late March on Thursday, dragged lower by fears a possible recession could dent fuel demand and after a rise in U.S. gasoline inventories. futures settled at $81.10 a barrel, shedding $2.02, or 2.4%. West Texas Intermediate crude (WTI) futures settled at $77.29 a barrel, losing $1.87, or 2.4%. Both benchmarks fell 2% on Wednesday and are at their lowest since just before a surprise OPEC+ production cut announcement. “At the end of the day, one of the big reasons why we’re…

By Orhan Coskun and Birsen Altayli ANKARA (Reuters) – International investors are looking to increase investments in Turkey, notably in mergers and acquisitions, as they anticipate a shift to a more orthodox economic policy after May 14 elections, four government officials and analysts said. Opinion polls show President Tayyip Erdogan facing the greatest electoral challenge of his two decades in power in the presidential and parliamentary votes after an inflation-driven cost of living crisis eroded his support in recent years. The inflation surge was fed by a lira slide as the central bank slashed interest rates in an unorthodox policy…

In response to last month’s turbulence in the banking industry, financial regulators on Friday proposed a more comprehensive approach in identifying and addressing threats to financial stability, including closer scrutiny of nonbank financial companies. US Treasury Secretary Janet Yellen announced a new framework proposed by the Financial Stability Oversight Council that outlines the vulnerabilities in the financial system and the tools regulators can use to address those risks. “The authority for emergency interventions is critical. But equally important is a supervisory and regulatory regime that can help prevent financial disruptions from starting and spreading in the first place,” Yellen said…