ZM - Did Elon Musk Admit 90% Decline In Twitter's Value Since Acquisition? Apple's Zero-Click Vulnerabilities Uncovered By Internet Watchdog Group Gas Prices Jump As Strikes Start At Major Chevron Australia LNG Projects: Today's Top Stories | Benzinga
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Did Elon Musk Just Admit That Twitter's Value Is Down By 90% After His $44B Acquisition?
- Elon Musk's $44 billion acquisition of Twitter (now X) has been mired in controversies, but his latest admission could be a sign of just how bad it has turned out for him so far.
- In his ongoing rant against Jewish-led civil rights organization Anti-Defamation League (ADL), Musk may have inadvertently admitted that X has lost at least 90% of its value, or nearly $40 billion.
- "I don't see any scenario where they're responsible for less than 10% of the value destruction, so ~$4 billion," he said.
UAW's Fain Says GM's 10% Offer 'Insulting' As Contract Negotiations Break Down
- UAW President Shawn Fain did not mince words in a Thursday pushback against General Motor Company's (NYSE: GM) wage offer, branding it as "insulting" during tense negotiations between the United Auto Workers union and Detroit's automotive giants.
- GM's offer came as contract expirations loom, offering a ratification bonus of $5,500 for all employees, a 10% wage increase for most employees, and a 20% raise to a $20/hour wage for current temporary employees.
Stellantis' Electrifying Leap: Opens Its First Battery Technology Center In Italy
- Stellantis NV (NYSE: STLA) inaugurated its first Battery Technology Center at the Mirafiori complex in Turin, Italy.
- The €40 million investment is expected to boost Stellantis' capabilities to design, develop, and test battery packs, modules, high-voltage cells, and software to power upcoming Stellantis brand vehicles.
- The center is the biggest in Italy and among the largest in Europe and can test up to 47 battery packs in parallel.
Kroger And Albertsons Seal The Deal: A $1.9B Sale To Change The Grocery Game
- Kroger Co (NYSE: KR) and Albertsons Companies Inc (NYSE: ACI) reached a definitive agreement with C&S Wholesale Grocers to sell select stores, banners, distribution centers, offices, and private label brands for $1.9 billion as part of their proposed merger.
- This move aims to expand access to affordable food and create a competitive alternative to non-union retailers. C&S Wholesale Grocers is reportedly backed by SoftBank Corp (OTC: SFBQF).
Kroger's Mixed Q2 Earnings & $1.4B Opioid Settlement - What You Need To Know
- Kroger Co (NYSE: KR) reported a second-quarter FY23 sales decline of 2.3% year-on-year to $33.85 billion, ...