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Elon Musk has stopped buying Twitter. The company has already reacted and will sue the mogul if the deal falls through.

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Elon Musk has stopped buying Twitter.  The company has already reacted and will sue the mogul if the deal falls through.

News reports Associated Press Agency. The possible refusal of the owner of Tesla and Space X from buying the social network was already moving forward. Twitter shares tumbled Thursday after a Washington Post report that Musk’s $44 billion deal to buy the social network was in jeopardy.

The richest man in the world has previously expressed doubts and even hinted that he may refuse the deal, citing concerns about the abundance of fake accounts on the social network.

However, despite Musk’s reservations, pulling out of the deal could mean a €1 billion fine, which is the point of the deal.

Twitter has already said it will sue Elon Musk to enforce the deal to buy the company. “Twitter’s board of directors intends to close the deal at the price and terms agreed with Mr. Musk and plans to take legal action to enforce the merger agreement,” Bret Taylor wrote. “We believe that we will succeed,” said the president of the social network.

In early June, his legal team filed a document with the U.S. Securities and Exchange Commission accusing Twitter of committing a “clear material breach” of its “obligations under the merger agreement,” arguing that “Mr. Musk reserves the right to on non-completion of the transaction and on its right to terminate the merger agreement.

According to the letter, Musk has repeatedly made the request since May 9, a month after he submitted his proposal. The rationale for this request stems from the need to estimate how many of the 229 million accounts on the social network are fake.

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magnate already threatened to pull out of the deal in May if she doesn’t have guarantees regarding false invoices. “Yesterday, the CEO of Twitter publicly refused to provide evidence of less than 5% on the platform,” Musk wrote on the same social network. The mogul, with 94 million Twitter followers, commented on his demand to confirm that less than 5% of the social media accounts are fake. “The deal can’t go through until he does,” he added.

In response, Twitter CEO Parag Agrawal said the platform blocks more than half a million accounts that appear to be fake every day, often before they are even seen, and blocks millions of alleged users from accounts that are controlled by the software. Internal analysis shows that less than 5% of active accounts per day on average are classified as “spam,” but those accounts cannot be replicated by third parties due to privacy requirements, Agrawal said.

Musk, who claims that “bots” are a plague on Twitter and that he makes it his priority to get rid of them if he takes control of the platform, responded to Agrawal’s explanation on Twitter with an emoji representing a set of feces.

“So how do advertisers know what they’re getting for their money?” Musk asked in a later post about the need to prove that Twitter users are human. “This is critical to the financial health of Twitter,” he added.

Agrawal insisted that the procedure for counting the number of accounts that are “bots” be transferred to Musk.

Now, lawyers for the billionaire argue that Twitter only offered to provide details of the company’s testing practices, which is “equivalent to denying Mr. Musk’s requests for data.” At the same time, the social network resists the rights that Musk protects in business, to receive the information necessary to finalize it, protects its legal team.

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“This is a material breach of Twitter’s obligations under the merger agreement, and Mr. Musk reserves all rights, including the right to not complete the transaction and terminate the merger agreement,” the letter, which AP had access to, said.

At stake will be a clause where Musk reserves the right to withdraw from the agreement if there are “material adverse effects” caused by the company – something defined by any type of change that affects Twitter’s financial or business conditions.

According to an estimate released by software company SparkToro, 19.42% of Twitter accounts are fake or spam, although the company acknowledges that its methodology for identifying bots is likely different from that used by Twitter.

Otherwise, the SparkToro website has a tool that shows that more than 70% of Musk’s followers are fake accounts.

Since the offer, Musk has pledged to rid Twitter of spam, improve user authentication, and make the platform more transparent.

On the same day, Musk announced that his team would randomly select 100 users from official Twitter accounts to see if they were real or not.

Musk, the CEO of SpaceX and Tesla, is currently the richest person on the planet according to Forbes magazine, with an estimated net worth of $230 billion.

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Economy

What factors impact financial markets?

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The global financial markets are now hugely complex, with traders and analysts around the world looking closely for signs of movement. What are some of the most important factors to be aware of that impact the financial markets?

Geopolitical events

With news breaking from different countries throughout the day, many different stories could affect the markets on any given day. For instance, economic indicators such as the European Central Bank’s inflation rates and gross domestic product numbers released by each country can determine which direction the markets take. Stocks, currencies and other financial instruments can all vary depending on these areas.

Major events such as war breaking out, natural disasters and elections also have an effect. When we look at the commodities market, climate change is an issue to bear in mind, with unusual weather sometimes causing scarcity or abundance of a certain product.

An interesting aspect of the modern financial world is the way that the different markets are linked. This means that any important event or news story that affects one area could easily affect another, even if the link isn’t obvious at first sight. We can also see how local shocks and events can quickly have an effect at a global level.

The financial crisis of 2008 is a good example, as it started with a serious downturn in the US housing market. Although this appeared to be a localized issue at first, it soon revealed some major issues with the global banking setup that caused problems around the planet affecting millions of people and diverse industries.

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Speculation and investment trends

The previous factors all point toward the markets changing, and there’s no shortage of traders around the world waiting to see what happens next and how they can benefit. This means that we need to take into account other issues such as speculation and investment trends in the markets.

Armed with a variety of tools, including candlestick charts, traders try to identify trends such as support and resistance levels. They use the information they glean from the charts to make their moves, which can influence the general market if enough people make the same moves or if the amounts involved are significant.

Once an investment trend begins, it can have a knock-on effect that would have been impossible to predict at the outset. The example of Bitcoin and other cryptocurrencies shows how something that starts small can grow impressively. Cryptocurrencies have now gained enough mainstream appeal to influence and disrupt many industries, from healthcare to gaming and banking.

It’s important to understand how the leaders of a company operate and how they have faced challenges in the past. If we look at banking and the Bank of New York Mellon in particular, we can see that its history can be traced back to 1784, so it has overcome all the major events that have occurred since then. With some of the biggest names in the business world making up its key institutional investors, this is a company that we would expect to react effectively to changing markets.

Regulatory changes and company results

Just about every industry represented in the financial markets has laws and regulations that govern it. This means that the fear of harsher new laws is an almost constant threat. Meanwhile, the hope that beneficial changes to the regulations help businesses prosper is the other side of this matter that investors keep a close eye on.

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Let’s not forget the role played by the profit and loss results produced by major companies. It’s clear that these results have an almost immediate effect on their stock prices. However, we should also bear in mind that this effect can reach other areas of the economy. A surprising set of results for a large business can produce shock waves that travel around the market.

What impact do they cause?

From the wide variety of examples that we’ve looked at here, it’s clear that the impact isn’t going to be the same in every case. While one set of circumstances might snowball and cause a huge impact, another might cause a limited impact before the news disappears as other events overtake it.

Having said that, one of the key issues that they cause is a higher degree of market volatility. We can see how this works by looking at an area such as the COVID-19 pandemic in 2020. The markets became a lot more volatile as the different aspects of the pandemic became clear. Streaming companies, healthcare companies and video conferencing technology firms made huge profits, while airlines and hotels were among those to lose out massively.

Working out the overall impact of a particular situation is almost impossible to do now. With so many traders looking over the latest news stories and numbers with advanced tools, the original impact can quickly grow or simply disappear. Therefore, the key for investors is to understand emerging trends and react to them before it’s too late.

These details reveal how complex the global financial market is now. It’s a fascinating world, and with more information at our fingertips than ever before, it’s something that anyone can start to research and understand in their own way.

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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