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Amazon will shut its Kindle ebook store in China next year, marking the latest retreat by a U.S. tech giant in the market. Kindle users in China will no longer be able to purchase new books after the ebook shop closes on June 30, 2023, Amazon announced on its Weibo account on Thursday.
Tesla, electric car maker founder and chief executive Elon Musk has once again reiterated his position on setting up a manufacturing plant in India. Replying to a post on Twitter, the Tesla CEO said,” Tesla will not put a manufacturing plant in any location where we are not allowed first to sell & service cars.”
Elon Musk tweeted on Friday that his $44-billion cash deal for Twitter Inc was “temporarily on hold” while he waits for the social media company to provide data on the proportion of its fake accounts. Twitter shares initially fell more than 20% in premarket trading, but after Musk, the chief executive of electric car market Tesla Inc, sent a second tweet saying he remained committed to the deal, they regained some ground.
On Monday google urged Europe’s second-highest court to dismiss a 1.49-billion-euro ($1.6 billion) fine imposed by EU antitrust regulators three years ago for hindering rivals in online search advertising. The case is one of three that has resulted in a total of 8.25 billion euros in European Union antitrust fines on the world’s most popular internet search engine.
Amazon (AMZN) will end its paid time-off policy for employees with COVID-19 from May 2, the company told U.S.-based staff on Saturday. The change follows the availability of COVID-19 vaccines and revised guidance from the U.S. Centers for Disease Control and Prevention, it said.
Ukraine will soon stamp out it’s fuel shortages, even though forces of Russia have damaged a number of oil depots, President Volodymyr Zelenskiy said on Friday. This week, Russia struck Ukraine’s main fuel producer, the Kremenchuk oil refinery, as well as several other large depots.
Joe Biden, United States President asked Congress today for $33 billion to support Ukraine – a dramatic escalation of U.S. funding for the war against Russia – as well as new legal tools to siphon assets from Russian oligarchs.
On Monday Twitter announced that it has entered into a deal to be acquired by Tesla CEO Elon Musk for $44 billion. Twitter shareholders will receive $54.20 per share, and when the deal is finalized the social network will become a privately held company.
Bank of America reported first-quarter earnings before the opening bell Monday. Earnings: 80 cents a share vs 75 cents a share Refinitiv estimate. Revenue: $23.33 billion vs $23.2 billion estimate. Bank of America’s results were helped by better-than-expected credit quality on the part of its borrowers.
WTI crude oil prices have seen a strong rebound thus far this Tuesday, with front-month WTI crude futures retaking the $100 per barrel mark and testing the 50-Day Moving Average in the $100.50s. At current levels, WTI crude trades with gains of more than $5.0 on the day, easily making up for Monday’s slightly more than $2.50 loss, and is now nearly $7.50 higher versus Monday’s lows near $93.00.