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Elon Musk has called for the arrest of leaders of "fake" NGOs that he claims are part of a politically connected "uniparty" involved in a "giant money laundering scheme" with federal funds. He criticized these organizations for predominantly benefiting Democrats while occasionally appeasing Republicans. Musk's comments come amid efforts to reduce federal spending and as he encourages voter turnout in Wisconsin's judicial election, which he believes could impact the House of Representatives.
Tesla's board has requested Elon Musk to step down as CEO amid declining sales and increasing political controversies linked to his behavior. Despite Musk's significant role in building the brand, the board's inaction has led to a tarnished reputation and market response, prompting this drastic measure. The search for a new CEO is underway, as the company faces challenges in a growing EV market.
Japan’s Metaplanet has acquired 696 BTC for 10.15 billion yen (US$67.9 million), averaging 14.59 million yen (US$97,512) per bitcoin. This purchase, made through cash-secured put options, increases its total holdings to 4,046 BTC, valued at approximately US$340 million. The company aims to acquire 10,000 BTC by the end of 2025 and 21,000 BTC by 2026, while its bitcoin income generation business reported Q1 2025 operating revenue of 770.35 million yen (US$5.2 million), an 11.4% increase from the previous quarter.
JPMorgan Chase & Co. has purchased a property in St. Johns County for $950,000, potentially for a new bank branch near International Golf Parkway. The bank plans to expand in North Florida, with 10 additional branches and over 100 new hires in the next three years. Currently, Chase operates 24 branches in Northeast Florida and is also establishing a J.P. Morgan Private Bank office in Ponte Vedra Beach.
TikTok faces a critical deadline on April 5, as its parent company ByteDance must divest its US operations under a national security law established by former President Biden. Despite avoiding a ban earlier this year, uncertainty looms, prompting creators like Gianna Christine to diversify to platforms like Snapchat and YouTube. President Trump expressed optimism about reaching an agreement to keep TikTok operational in the US, while marketing firm Meltwater noted a decline in scheduled posts on TikTok amid concerns about its future.
Spinny, a used-car marketplace backed by Tiger Global, has raised $131 million in funding, valuing the company at $1.7 billion to $1.8 billion. The investment round, led by Accel Leaders Fund and including Nandan Nilekani’s Fundamentum, aims to expand Spinny's non-banking financial services. The company reported a 28% reduction in net loss to $69.03 million for FY24, with a 14.2% revenue growth to $435.86 million.
Cathie Wood and Warren Buffett both hold shares in Amazon, a member of the "Magnificent Seven," despite their differing investment strategies. While tech stocks, including Amazon, have faced a sell-off, the company's fundamentals remain strong, particularly with AWS showing significant growth. Currently trading at a low P/E ratio, Amazon presents a compelling buying opportunity for investors.
Inflation in South Korea is rising, potentially halting the Bank of Korea's rate cut cycle, with the policy rate expected to remain at 2.75% during the April meeting. The BoK is closely monitoring core inflation and the USDKRW exchange rate amid political uncertainty and global risk-off sentiment. Processed food prices are anticipated to increase, while fresh food prices may rebound due to adverse weather. The government plans to freeze utility fees in the first half of 2025 and boost spending to stabilize food prices, with a possible rate cut in May depending on inflation trends and currency fluctuations.
Barclays has appointed Jason Short as Managing Director in the Financial Sponsors Group, based in San Francisco, to enhance client coverage on the West Coast. His role focuses on strengthening relationships with financial sponsor clients and their portfolio companies, aligning with Barclays' growth strategy in investment banking. Short, who has nearly 20 years of experience, previously worked at Deutsche Bank and has rejoined Barclays after a tenure in its Leveraged Finance Team.
Deutsche Bank warns that markets are uncertain about the true impact of potential U.S. tariffs, currently estimated at 50% on Chinese goods and nearly 10% on other imports. The actual consequences will depend on responses from affected countries, including possible retaliation and fiscal measures.Recent reports indicate that China, Japan, and South Korea are preparing a coordinated response to U.S. tariff actions, which could significantly escalate global trade tensions and increase market volatility, complicating central bank policies.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Elon Musk calls for arrests of leaders of alleged fake NGOs
03:45 02.04.2025
Tesla board urges Elon Musk to resign as CEO amid declining sales
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00:03 02.04.2025
escalating tariff risks prompt coordinated response from asian economies
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23:36 01.04.2025
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