Doubts over Twitter deal, shares end up

DETROIT (AP) — Elon Musk is threatening to end his $44 billion deal to buy Twitter, accusing the company of refusing to give him information about his spam bot accounts. Lawyers for the CEO of Tesla and SpaceX made the threat in a letter to Twitter dated Monday that the social platform included in a filing with the Securities and Exchange Commission. The letter says Musk has repeatedly requested this information since May 9 so he can assess how many of the company’s 229 million accounts are fake. Twitter said it was sharing information with Musk in accordance with the merger agreement.

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EXPLAINER: Is Elon Musk’s deal to buy Twitter falling apart?

Elon Musk on Monday threatened to drop his $44 billion bid to buy Twitter, the latest sign that his plan to overhaul the social media platform could really be starting to unravel. Lawyers for the CEO of Tesla and SpaceX made the threat in a letter to Twitter accusing the company of refusing to give him information about “spam bot” accounts. These bots have become a major public concern for the volatile billionaire despite turning down the opportunity to review internal Twitter data several months ago.

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Wall Street rises as recession watch remains murky

NEW YORK (AP) — U.S. stocks rose Monday as Wall Street continues to debate whether the economy will manage to stave off a recession amid rising interest rates and high inflation. The S&P 500 edged up 0.3% and the Nasdaq 0.4%. Both started the day with even bigger gains, following strength in European and Asian markets after China eased some strict anti-COVID measures. But stocks retreated slightly as Treasury yields continued to climb, putting downward pressure on equities. The 10-year Treasury yield, which helps set interest rates on mortgages and other loans, has risen back above 3%.

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Bidding war for Spirit Airlines escalates ahead of vote

The Spirit Airlines bidding war is heating up again with JetBlue bolstering its bid for the discount carrier just days after rival Frontier upped its own bid for Spirit. Spirit shareholders are also due to vote Friday on Frontier’s offer. JetBlue said on Monday it would now provide a reverse breakup of $350 million payable to Spirit if an agreement between the two is not reached for antitrust reasons. That’s $150 million more than what JetBlue previously offered to pay.

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UN: Climate shocks and war are fueling multiple looming food crises

ROME (AP) — Two United Nations food agencies are warning of multiple food crises looming on the planet. Climate “shocks”, including droughts and floods, the repercussions of the COVID-19 pandemic and the war in Ukraine, were cited as the reasons food and fuel prices were rising so rapidly. The stark warning was issued jointly Monday in a report by the World Food Program and the Food and Agriculture Organization of the United Nations. WFP Executive Director David Beasley said that as well as hurting “the poorest of the poor”, the global food crisis threatens to overwhelm millions of families who are barely coping. The report indicates that six countries face catastrophic conditions: Ethiopia, Nigeria, South Sudan, Yemen, Afghanistan and Somalia.

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Apple offers preview of upcoming iPhone software changes

Apple on Monday previewed upcoming changes to the software that powers more than a billion iPhones and rolled out two laptops that will be the first available with the next generation of a company-designed microprocessor. As usual, Apple spent most of the opening day of its annual developer conference touting upcoming software releases for iPhone, iPad, Apple Watch, and Mac computers instead of the devices that made it one. technological pioneer. The upcoming iPhone operating system, which will be released this fall, will revamp the look of the device’s lock screen and make minor improvements to the current software.

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Biden orders emergency measures to boost US solar production

WASHINGTON (AP) — President Joe Biden has ordered emergency measures to boost supplies to crucial U.S. solar makers. It also declared a two-year tariff exemption on solar panels from Southeast Asia as it tries to reinvigorate progress towards its climate change goals. Biden’s use of the Defense Production Act and his other executive actions come amid complaints from industry groups that the solar sector is being slowed by supply chain issues due to a Department of Health investigation. Trade on possible trade violations. Biden’s actions are aimed at increasing domestic production of solar panel parts, building installation materials, high-efficiency heat pumps and cells used for fuels generated by clean energy.

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US seeks to seize 2 luxury jets linked to Russian oligarch

NEW YORK (AP) — Federal authorities are set to seize a $60 million Gulfstream and a $350 million plane considered one of the most expensive private jets in the world after linking the two planes to the oligarch Roman Abramovich. A federal court judge in Manhattan on Monday signed a warrant of seizure authorizing the seizure of the Gulfstream and a Boeing that authorities said were worth less than $100 million before being turned into a much more expensive aircraft. Abramovich, who recently sold his stake in Chelsea, a Premier League football club in London, is among the wealthiest Russians whose assets are being watched for breaches of sanctions following Russia’s invasion of Ukraine.

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Russia imposes sanctions on 61 US nationals

The Russian Foreign Ministry announced sanctions against 61 US nationals, a move it said is “in response to the increasingly extensive US sanctions against Russian political and public figures, as well as representatives of domestic companies. “. The list includes former and current U.S. officials and top executives of major U.S. corporations, such as Treasury Secretary Janet Yellen, Energy Secretary Jennifer Granholm, White House Communications Director Kate Bedingfield and the CEO of Netflix Reed Hastings.

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The S&P 500 rose 12.89 points, or 0.3%, to 4,121.43. The Dow Jones Industrial Average rose 16.08 points, or less than 0.1%, to 32,915.78. The Nasdaq gained 48.64 points, or 0.4%, to 12,061.37. The Russell 2000 Small Business Index rose 6.83 points, or 0.4%, to 1,889.89.

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