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Musk takes to the stand for day two of the Tesla trial

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Tesla CEO says he believed he had secured funding to take the company private

 
Tesla CEO Elon Musk took the stand for a second day on Monday in the trial over allegations he misled investors when the billionaire tweeted in 2018 that he had “funding secured” to take the electric car company private.

Musk testified that he was sure he had backing from Saudi financiers at the time but said the fund later backpedaled on its commitment.

Musk acknowledged he did not discuss a takeover price with representatives of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, but said they made clear they would do what it took to make a buyout happen. And he said he was “upset” when they later “appeared to be backpedaling.”

The lawyer for the investors told the court that written evidence does not support Musk’s claim that the Saudi fund made a commitment to him, adding that minutes of a meeting between Musk and the Saudis showed they wanted to learn more about Musk’s plan.

Investors say they lost millions as a result of Musk’s Aug. 7, 2018 tweet saying that he had “funding secured” to take Tesla private at $420 per share.

Tesla’s stock price surged after Musk’s tweets, and later fell as it became clear the buyout would not materialise.

Musk testified that when he sent the tweet, he was saying “not that it will happen, but that I am thinking about it” and that funding was secured, in his “opinion.” #trending #featured

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Could Trump’s Middle East peace deal reshape the global economy?

Trump’s ceasefire deal between Israel and Hamas may reshape global markets and trigger new economic dynamics.

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Trump’s ceasefire deal between Israel and Hamas may reshape global markets and trigger new economic dynamics.


Donald Trump’s latest diplomatic breakthrough — a ceasefire and potential peace deal between Israel and Hamas — could have ripple effects far beyond the Middle East. The former U.S. president is eyeing economic reconstruction opportunities in the region, with energy, infrastructure, and trade set to benefit if stability holds.

Experts say the deal could also influence global oil prices, energy markets, and investment flows, as renewed peace opens the door to new development projects. But it could also trigger volatility if negotiations falter or regional rivalries reignite.

As Trump prepares for further talks with China on trade and critical minerals, economists are watching closely. Could this mark the beginning of a new era of economic détente — or the start of another global power struggle centred around strategic resources?

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Ceasefire holds as families return to Gaza

Thousands of Palestinians return amid fragile ceasefire, as Egypt hosts talks for lasting peace amidst immense destruction.

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Thousands of Palestinians return amid fragile ceasefire, as Egypt hosts talks for lasting peace amidst immense destruction.


Thousands of Palestinians are returning home under a fragile ceasefire, as leaders gather in Egypt to discuss lasting peace.

The destruction is immense, but hopes for stability are rising.

#Gaza #Ceasefire #MiddleEast #PeaceTalks #IsraelHamas #tickernews


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Australia rushes to finalise billion-dollar minerals deal with the U.S.

Australia seeks a $1.2 billion minerals deal with the U.S. to reduce reliance on China ahead of Albanese-Trump talks.

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Australia seeks a $1.2 billion minerals deal with the U.S. to reduce reliance on China ahead of Albanese-Trump talks.


Australia is racing to secure a landmark critical minerals deal with the United States ahead of Prime Minister Anthony Albanese’s upcoming meeting with President Donald Trump. The agreement, worth an estimated $1.2 billion, aims to strengthen supply chains and reduce both nations’ reliance on China’s mineral dominance.

The deal would see Australia establish a strategic reserve of rare earths, backed by U.S. investment and government funding. Australian miners are being consulted on potential price floors and financing models that could redefine the future of the country’s resources sector.

However, questions remain over the economic risks. Analysts warn that introducing price controls and heavy government intervention could have unintended consequences, especially if China retaliates with tariffs or production cuts. The deal could reshape global competition for critical minerals essential to defence, energy, and technology industries.

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