BUSINESS
Jeff Bezos trolls Elon Musk, tests his 'free speech' commitment
A New York Times reporter tweeted that "After 2009, when China banned Twitter, the government there had almost no leverage over the platform. That may have just changed". Bezos replied: "Interesting question. Did the Chinese government just gain a bit of leverage over the town square?" The Amazon founder further said that his own answer to "this question is probably not".
Parag Agrawal to get $42 mn if sacked, says Twitter's future 'uncertain'
According to research firm Equilar, he will get an estimated $42 million if terminated within 12 months of being appointed as the CEO of the company. Agrawal took over from Jack Dorsey in November 2021. After Musk bought Twitter for nearly $44 billion, Agrawal reportedly told employees at a town hall meeting that the future of the micro-blogging platform is now "uncertain".
Uber admits it misled users about ride cancellation fees
Uber now faces $26 million (Australian dollars) in penalties for adopting those illegal practices. For almost four years between December 2017 and September 2021, the Uber rideshare app displayed a cancellation warning to consumers who sought to cancel a ride saying words to the effect of 'You may be charged a small fee since your driver is already on their way', even when consumers were seeking to cancel a ride with Uber's free cancellation period.
Indices break two day losing streak, Sensex up 700 pts
At 9.47 a.m., Sensex was 1.2 per cent or 700 points up at 57,820 points, whereas Nifty 1.2 per cent or 208 points up at 16,162 points. Amidst the current volatility, banking stocks are at buyable valuations and IT stocks too, after the recent correction are good long-term bets, Vijayakumar added.
Wheat procurement under MSP likely to be lowest in last 12 years
India was till last week headed to a record production but the heat wave that started in March and continued in April over northwest India is set to affect produce, especially in Punjab and Haryana.
Under development global coal power declined by 13%: Report
The report finds that after rising in 2020 for the first time since 2015, the total coal power capacity under development declined 13 per cent in 2021, from 525 gigawatts (GW) to 457 GW, a record low. Thirty-four countries have new coal plants under consideration, down from 41 countries in January 2021.
Reports on states' feedback for GST hikes 'purely speculative': Govt
According to a Ministry of Finance statement, a section of the media has reported that feedback has been sought from states regarding a suggestion for raising Good and Services Tax (GST) rates on as many as 143 items. Some reports have even carried the number and description of the items, the statement said, adding that the GST Council, in its 45th meeting, had formed a Group of Ministers (GoM) to look into the rationalisation of rates and its deliberations are ongoing.
Twitter soars after commentariat scents imminent Musk takeover
Earlier this month, Musk offered to buy Twitter for $54.20 a share, or about $43 billion. Twitter's board of directors met on Sunday to discuss Musk's financing plan. The board negotiated with Musk into the early hours of Monday, The New York Times said. Twitter shares fired up nearly 6 per cent in the afternoon, chiefly because of media speculation that the deal was expected after market close, if not sooner.
What next for Parag Agrawal with Elon Musk as Twitter boss
"Deeply proud of our teams and inspired by the work that has never been more important. I know this is a significant change and you're likely processing what this means for you and Twitter's future," Agrawal tweeted. He was set to address Twitter employees in a town hall on what this takeover means to them and allay their fears.
I hope my worst critics remain on Twitter: Musk
"I hope that even my worst critics remain on Twitter, because that is what free speech means," he tweeted. "And be my love in the rain," Musk added, posting from famous American poet Robert Frost's poem "A Line-storm Song" The tweet indicated that Musk has won against the Twitter board.
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