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The Wall Street Journal
Elon Musk Proposes Closing Twitter Deal on Original Terms
The two sides are discussing how the $44 billion deal can be closed, and the judge overseeing their court case requested they come back to her by the end of the day with a potential plan that would allow the litigation to be dropped.
MarketWatch
Your off-ramp for I-bonds is coming up soon if you bought the securities for their juicy 9.6% yield
You can hold on to Series I bonds for 30 years, but if you jumped in when the interest rate skyrocketed to 9.62%, you might be looking for an off-ramp well before then. The total return on I-bonds is made up of two parts — a fixed rate that’s set at the time of purchase and an inflation-adjusted rate that resets every six months, in November and May. The fixed rate has been 0% since May 2020. Looking at numbers already published, David Enna, founder of TipsWatch.com, a website that tracks inflation-protected securities, predicts the variable inflation-adjusted portion of the I-bonds formula will be around 6.3%, and likely fall to 3.5% eventually.
Bloomberg
Ray Dalio No Longer Thinks ‘Cash Is Trash’
(Bloomberg) — Ray Dalio, the founder of Bridgewater Associates, has changed his mind, saying he no longer thinks “cash is trash” and that the short-term interest rate is “now about right.”Most Read from BloombergElon Musk Sets Off Uproar in Ukraine by Tweeting His ‘Peace’ PlanTrump Asks to Push Special Master Appeal Hearing to JanuaryNorth Korea Fires Missile Over Japan for First Time Since 2017Stocks Rise From the Ashes in Best Day Since July: Markets WrapCredit Suisse Turmoil Deepens With Rec
Bloomberg
Apple iPhone Exports From India Doubling in Boon to Modi’s Plan
(Bloomberg) — Apple Inc.’s iPhone exports from India crossed $1 billion in the five months since April, according to people familiar with the matter, signaling the South Asian nation is making progress with its bid to become a force in electronics manufacturing.Most Read from BloombergElon Musk Sets Off Uproar in Ukraine by Tweeting His ‘Peace’ PlanLoretta Lynn, Coal Miner’s Daughter And Country Queen, DiesBiden, Kishida Condemn North Korean Missile Launch Over JapanTrump Asks to Push Special M
Reuters
Buffett’s designated successor Greg Abel boosts Berkshire stake
Greg Abel, who is next in line to succeed Warren Buffett as Berkshire Hathaway Inc’s chief executive, spent more than $68 million on the conglomerate’s shares last week, after selling his stake in the company’s Berkshire Hathaway Energy unit for $870 million. In four regulatory filings, Abel, 60, said that on Sept. 29 he purchased 168 Class A shares of Berkshire, each costing more than $405,000, on behalf of a family trust.
Barrons.com
Buffett’s Likely Successor Buys $68 Million of Berkshire Stock
Berkshire Hathaway Vice Chairman Greg Abel, the likely successor to CEO Warren Buffett, bought about $68 million of the company’s shares last Thursday in what appears to be his first purchases of Berkshire stock since he assumed the position in 2018. In several Form 4 filings Monday with the Securities and Exchange Commission, Abel disclosed that he purchased 168 Berkshire Hathaway (ticker: BRK/A, BRK/B) Class A shares through the Gregory Abel Revocable Trust on behalf of his wife, children, and other family members. Abel paid in a range of roughly $405,000 to $408,000 per class A share for the Berkshire stock, which closed Monday at $413,300, up 1.7% on the session.
Motley Fool
This Growth Stock Once Soared 1,900% — and Here’s Why It’s a Buy Right Now
Upstart stock has in fact collapsed by 95% and is once again trading at around $20. To understand why, let’s take a look at what the company does and how its recent stock-price drop could be a buying opportunity. Banks tend to rely heavily on Fair Isaac’s FICO credit scoring system, which looks at a borrower’s payment history and existing debts (among other things) to determine their ability to service a loan.
Reuters
Exclusive-Boeing doesn’t expect MAX 10 to gain FAA approval before summer 2023 -letter
WASHINGTON (Reuters) -Boeing Co does not anticipate winning approval for the 737 MAX 10 before next summer, according to a Federal Aviation Administration (FAA) letter sent on Monday that intensifies concerns about the company’s timeline for deliveries. Boeing faces a December deadline to win regulatory approval for the MAX 10, which is slightly larger than current 737 MAXs in service, as well as for a smaller variant, the MAX 7. Unless it gains an extension from Congress, Boeing must meet new modern cockpit-alerting requirements that could significantly delay the planes’ entry into service.
The Wall Street Journal
Twitter Shares Remain Halted
Twitter shares remain halted for pending news, after jumping on the initial media reports of Elon Musk offering to close the deal at the original price of $54.20 a share. The stock is frozen at $47.93, up nearly 13% on the day. Shares were trading below $43 for most of the day, up slightly from their close Monday at $42.54, before rising in the minutes before the halt. Mr. Musk’s deal for Twitter values the company at $44 billion.
Reuters
Porsche shares fall below IPO pricing
Shares in sports car brand Porsche fell below its listing price on Monday, the third day of trading since its $72 billion listing by parent company Volkswagen. The closely watched initial public offering (IPO) was the largest listing in Germany in more than 25 years despite a backdrop of volatile global markets. On Monday Porsche shares fell to 81 euros, 1.8% below the IPO pricing of 82.50 euros.
MarketWatch
What if Musk loses the Twitter case but defies the court?
Twitter wants a Delaware court to order Elon Musk to buy the social media service for $44 billion, as he promised back in April. But what if a judge makes that ruling and Musk balks?
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