Business

Elon Musk briefly loses title as world’s richest person to LVMH’s Arnault

(Reuters) -Twitter owner and Tesla boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm. Bernard Arnault, the chief executive of luxury brand Louis …

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Europe’s McGuinness pushes for global rules after FTX collapse

Mairead McGuinness, financial services commissioner for the European Union spoke to CNBC in Brussels. Bloomberg | Bloomberg | Getty Images BRUSSELS — Some market players are purposely avoiding regulation in the crypto space, the EU’s top regulator told CNBC as she called for a global approach to protect retail investors. The European Union agreed in …

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GM to roll put thousands of electric vehicle chargers in rural America

CNN Business — General Motors is moving ahead with plans to install as many as 40,000 electric vehicle chargers in, mostly, rural parts of America. This comes as GM plans to sell exclusively zero-emission passenger vehicles by 2035. These will not be so-called “Level 3” fast chargers — the sort that can charge an EV …

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Elon Musk tweet confirms employee beds installed at Twitter HQ in San Francisco

The city of San Francisco warned it might crack down on Elon Musk’s latest gambit to save his $44 billion investment in Twitter from potentially declaring bankruptcy. On Tuesday, the serial entrepreneur running five different companies confirmed a report in forbes that he brought beds into the social media company’s headquarters, after city officials said …

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Dow Jones Continues To Fall After Stock Market Sell-Off; Apple, Tesla Stock Slide

The Dow Jones Industrial Average dropped Wednesday, as the major stock indexes threatened to fall again after consecutive stock market sell-offs Monday and Tuesday. Apple and Tesla stock traded sharply lower after the market open. x Academy Sports + Outdoors (ASO), MongoDB (MDB), discount retailer Ollie’s Bargain Outlets (OLLI), Thor Industries (THO) and homebuilder Toll …

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Carvana Plunges as Apollo-Pimco Creditor Truce Creates Stock Doubts

(Bloomberg) — Carvana Co. plunged on Wednesday as Wall Street’s pessimism spread on its shares after the online car dealer’s largest creditors signed a deal to act together in negotiations with the company. Most Read from Bloomberg Its shares tumbled by a record 45%, triggering at least one volatility halt, after Wedbush analyst Seth Basham …

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European markets open to close, data, news and earnings

Downturn in private equity transactions set to continue into 2023, fund manager says The downturn in private equity transactions is set to continue into the first quarter of 2023, according to a trust fund manager at Abrdn. Alan Gauld, private equity opportunities trust fund manager at Abrdn, discussed the firm’s 2023 outlook for private equity …

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The 10 hottest real estate markets of 2023: Goodbye COVID boomtowns

After a sudden slowdown in many housing markets this year, will markets that are “slow and steady” shine in 2023? Midsize markets, which saw lower price increases and less of a affordability crunch than others, are poised to see the strongest combined growth in home sales and listing prices in the coming year, according to …

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