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Musk Expected to Confirm Ownership Push in Twitter Meeting – WSJ

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Elon Musk on Thursday is headed for his first encounter with employees of Twitter (NYSE:TWTR) – the social-media platform he’s committed to buy for $44 billion – and there he’ll confirm his desire to go forward with buying the company, The Wall Street Journal reports.

Twitter Chief Executive Parag Agrawal called an all-employees meeting, and Musk is set to answer (previously submitted) employee questions for about an hour, according to the report.

Other issues likely to come up – depending on which employee questions get answered – will be Musk’s feelings about remote work (he’s recently told Tesla and SpaceX employees to spend 40 hours a week in the office) and whether his plans for change include layoffs; whether the company can expect big changes to moderation policies; what the revenue mix should look like; and even whether former President Donald Trump will be allowed back on the platform after his 2021 ban.

Musk has been critical of Twitter for relying too much on advertising, but he will likely stress that ads and subscriptions should make up revenue streams for the company, the WSJ said.

Meanwhile, Musk’s favorite subject of late – the presence and amount of automated/bot accounts on the platform – may not get much time (but seems sure to be a topic of conversation given Musk’s focus on the issue in recent weeks).

Skepticism about the deal being completed has led to a hefty spread between Twitter’s stock price and the deal price. Twitter closed Wednesday at $37.99; Musk is committed to buy for $54.20 per share, or a 43% premium.

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Hot Stocks: BIDU Leads Chinese Tech Stocks Higher; PTON, ODFL Rise on Earnings; SNAP Drops

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Stocks surged in the wake of the Federal Reserve’s latest interest rate announcement, with the Nasdaq ending Wednesday’s session higher by 2%. Investors focused on comments from Fed Chair Jerome Powell suggesting that the central bank was starting to make progress in its fight against inflation.

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Article: seekingalpha.com

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U.S. Beginning to Detain Some Chinese Aluminum Imports, Top Shipper Says

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The U.S. has started to detain imports of aluminum products suspected of being made through forced labor, particularly from China’s Xinjiang region, shipper A.P. Moller-Maersk (OTCPK:AMKBY) said Tuesday, according to Bloomberg.

U.S. Customs has begun issuing “detention notices” for such products, the shipper said in an advisory, adding the action probably would target aluminum used in automotive parts.

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Original Article: seekingalpha.com

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Gas Stove Controversy Heats up Again As Second U.S. Agency Proposes Limits

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Gas stoves are coming under renewed scrutiny as the U.S. Department of Energy published a proposal Wednesday for new regulations for the appliances, some of which have never been subject to federal efficiency standards.

The proposed rule-making would set new efficiency standards for both electric and gas cooking tops, preventing them from exceeding set levels of energy use per year.

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Original Source: seekingalpha.com

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