Business

“Hold My Beer”: Elon Musk’s banks hold onto $13B in Debt

Published

4 months ago

October 22, 2022

Elon Musk’s recent antics have made it difficult for his banks to sell the debt required to finance the Twitter deal.

As a result, they’ve decided to just hold onto it instead. This move threatens to bring leveraged buyouts to a halt, as it ties up capital that could be used to finance other deals.

Elon Musk’s recent antics have made it difficult for his banks to sell the debt required to finance the Twitter deal. As a result, they’ve decided to just hold onto it instead.

According to The Wall Street Journal, this $13 billion move threatens to bring leveraged buyouts to a standstill by tying up capital that could be used to finance other deals.

This is truly a next-level “hold my beer” move, as it puts pressure on other banks to step in and help Musk finance the deal. However, with leveraged buyouts already faltering, it’s unlikely that any other bank will be willing to take on such a risk.

This could ultimately lead to the demise of the leveraged buyout altogether.

Elon Musk’s recent antics have put his banks in a tight spot. In order to finance the Twitter deal, they’ve had to take on $13 billion in debt – which they can’t seem to get rid of. As a result, they’re just going to hold onto it, which threatens to bring leveraged buyouts to a halt.

Elon Musk has once again managed to shake things up.

Business

TikTok could be banned in the United States

Published

12 hours ago

February 6, 2023

ticker NEWS

TikTok in the firing line after Chinese balloon was shot down

China has hit back at the U.S. after officials shot down a suspected Chinese spy balloon off the coast of South Carolina.

Washington says it was being used to monitor strategic sites.

But Beijing rejects this – claiming the balloon was a civilian airship used to monitor the weather.

The incident is just the latest in a long line of diplomatic disputes between the two countries.

Now, TikTok could be banned in the U.S. in the wake of the incident.

Republicans are now pushing for Washington to distance itself from the Beijing-based app. #trending #featured

Business

Companies to pay extra for verified Twitter accounts

Published

22 hours ago

February 6, 2023

ticker NEWS

Elon Musk has announced that companies and brands will have to pay $1,000 per month – plus an additional $50 per sub-account – to get verified check-marks on Twitter

The new pricing falls under the new Twitter Blue for Business service.

Within the next few months, only paying Twitter customers will have verified status.

Twitter has stacked on $12.5 billion in debt, and this move hopes to increase subscription revenue to meet Musk’s obligations.

Advertisers halted spending on Twitter after the takeover, but Twitter has since announced partnerships with two brand-safety vendors to win back marketers.

Musk also announced that Twitter would start sharing ad revenue with creators for “ads that appear in their reply threads”, but didn’t provide further detail.

Business

BMW to invest €800 million in Mexico

Published

22 hours ago

February 6, 2023

ticker NEWS

BMW is set to invest €800 million in Mexico, to produce its next generation of high-voltage and fully electric batteries

The carmaker is looking to convert more than half of its sales into all-electric cars by 2030.

Construction will begin next year with production beginning in 2027.

The announcement follows several other major expansions from the automaker in recent months, including a $1.7 billion investment in the United States.

The move will add around 1,000 new jobs to its Mexico operations.