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Could Musk’s boycott of Twitter board drive market volatility?

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Elon Musk is the largest shareholder in Twitter, so what power does he have?

Analysts say Billionaire Elon Musk’s reversal of his decision to join the Twitter board is likely to drive volatility in the stock.

Last week Musk and Twitter said he would be joining Twitter’s board after revealing the Tesla CEO has a 9.2% stake in the social media platform.

Twitter shares fell on the news of Musk’s reversal during premarket trading, but rose by 2 per cent by Monday morning.

In case you missed it, Elon Musk went on a tweetstorm over the weekend.

He proposed no ads, slashing the price of twitter’s premium service and pay via crypto.

But the Tesla and SpaceX CEO appears to have deleted several tweets after dropping the plan to be on the firm’s board.

Many analysts now wonder if Musk will pursue a hostile takeover of Twitter, without the constraints he would have had on the size of his stake in the company.

Musk’s decision not to join Twitter’s board means he’s no longer limited to owning just 14.9% of the company.

Some say this could bolster his stake and eventually try and establish control.

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When London’s Heathrow airport is set to end daily passenger limits

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London’s Heathrow airport is set to end its daily passenger limits on departures

Ending at the end of this month, The Wall Street Journal is reporting that airlines have already been told about the changes.

Of course, this follows a turbulent summer of travel in the northern hemisphere, where staff shortages have plagued the sector.

To deal with the staffing crisis, Heathrow capped the number of passenger departures at 100-thousand a day.

But the cap was extended from July into October in a desperate bid to limit queues and baggage delays.

The sector has been crippled by the pandemic and labor shortages, with many airports and airlines struggling to hire enough staff to deal with the increased demand.

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Hacking saga hits Australia’s biggest telco

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As millions deal with the fallout from the Optus data breach, a third party company has leaked the information of Telstra employees

Up to 30,000 names and email addresses of past and present Telstra staff were uploaded online.

It’s understood it’s the same forum where an Optus breach was shared last week.

While no customer data has be lost, Telstra says it is aware of the breach, which contains employee information from 2017.

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Government-backed crypto could threaten the U.S. economy, report finds

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Government-backed cryptocurrencies could threaten the U.S. economy, that’s according to a new report

The Treasury Department believe that prices crypto are set by market speculation and don’t have much economic reality.

It’s found crypto-asset firms intersect with entities that have risky business profiles.

Treasury believes this is a concern for the U-S financial system.

Of course, Bitcoin is just one digital coin to swing and los much of its value since the start of this year.

But advocates think these stable-coins could be less volatile than traditional currencies.

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