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  • Twitter shares jump as Elon Musk takes 9.2% stake; Compression of British household income “to tighten” – as it happened | Business

Twitter shares jump as Elon Musk takes 9.2% stake; Compression of British household income “to tighten” – as it happened | Business

By on April 4, 2022 0

Time for a recap.

Elon Musk has taken a 9.2% stake in Twitter, which appears to make him its largest shareholder.

Regulatory documents show Musk hit the bull’s eye on March 14, days before criticizing Twitter’s online moderation for failing to protect free speech, saying he was ‘thinking seriously’ about building a new platform. -form.

Shares on Twitter jumped 20% as analysts predicted Musk could become an activist investor pushing for change, or even launch a buyout.

Yun Li

by Elon Musk $TWTR the stake sparks speculation that he may take more steps to shake up the company

“Musk isn’t here to make $500 million or $1 billion or $2 billion. He doesn’t think he’s going to be passive either. Musk is a threat to do almost anything at TWTR, so use your imagination”

April 4, 2022

Walid Koudmani, Chief Market Analyst at Financial Brokerage XTBsaid:

“Although Elon Musk has been critical of the social media platform, this could be a key development for the company as its share price has been struggling for some time.”

Here is the full story:

British consumer confidence has plummeted as rising inflation forces families to cut disposable spending as they struggle to meet food and energy bills.

Bank of England Deputy Governor Sir Jon Cunliffe has predicted that the Ukraine crisis will intensify and prolong the surge in inflation and tighten pressure on household incomes.

Andy Bruce

Sinister graph of @bank of england Deputy Governor Jon Cunliffe who highlights why 2022 is going to be a dreadful year for the less well off. 👇

April 4, 2022

Supermarket chain Morrisons has warned that its profits are likely to take a hit this year as the cost of living crisis and war-related disruption in Ukraine weigh on the grocery market.

Inflation is also exploding in Turkey, where consumer prices jumped more than 60% last year. due to the fall of the lira and the rise in food and energy prices.

Berlin took temporary control of the German operations of Gazprom, in an attempt to ensure the security of energy supplies.

The move came as leading bankers warned that Germany would face a deep recession if imports of Russian gas and oil stopped.

US factory orders fell for the first time in 10 months in February, a sign that the global economy is slowing.

The slowdown continued in March, with global manufacturing growth hitting an 18-month low as the Russian-Ukrainian war and the ongoing Covid-19 pandemic hit the sector.

German trade picked up in February, but imports and exports with Russia fell, a harbinger of the economic consequences of the war in Ukraine.

JP Morgan chief executive Jamie Dimon has warned the US bank could lose up to $1bn (£763m) due to its exposure to Russia. Dimon also urged the US government to deploy more troops, restructure supply chains and launch a new “Marshall Plan” to secure energy supplies in response to the war in Ukraine.

Chancellor Rishi Sunak has asked the Royal Mint to create a non-fungible token (NFT) to be issued by this summer. The move will do little to help the cost of living crisis, but will (apparently) show the UK’s “forward-looking approach” to crypto.

Bank of England chief Andrew Bailey has a more critical approach – today warning that cryptocurrencies are the new “front line” in criminal scams.

Mauricio Magaldidirector of global crypto strategy at fintech consultancy 11:FS, said:

“The news that the Treasury will be launching NFTs later this year seems like nothing more than a strategic PR game. However, talking about the UK becoming a ‘crypto hub’ seems like much more. promising and a welcome change from their previously limited position.

“The next steps will paint the big picture and determine if we are considering a real investment in creating a dialogue for a regulatory framework that fosters the crypto economy in the UK.”

There has been chaos at some airports as EasyJet and British Airways have been forced to cancel flights due to high levels of Covid-19 infections among staff.

The disruption follows the rise in the number of cases in the UK after almost all pandemic restrictions were removed.

A train breakdown in the Eurotunnel added to the misery of passengers.

The bus network has also been undermined, with more than one in four bus services in England cut over the past decade.

More than 3,000 workers from 60 companies across Britain will test a four-day working week, in what is believed to be the biggest pilot scheme ever in the world.

UK financial regulators are investigating the London Metal Exchange’s handling of a week-long suspension of nickel trading amid chaotic conditions at the start of Russia’s invasion of Ukraine.

Spanish police and US FBI agents have searched a £70million superyacht in Mallorca linked to Viktor Vekselberg, a sanctioned Russian billionaire who the US government says is a close ally of Vladimir Putin…

…while Roman Abramovich’s $600m (£458m) superyacht Solaris has left a port in Turkey after the London-based company that operates the terminal that housed the oligarch’s yacht was rush to act.

Good evening. GW