Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Trump can return to Twitter under Elon Musk’s $44bn purchase

Published

on

Elon Musk says if his bid to buy Twitter is successful he will reverse Donald Trump’s ban

Musk told a summit that Twitter’s decision to ban former U.S. President Donald Trump was “morally wrong and flat-out stupid”

Trump’s account was suspended after the Capitol riots last year, due to the risk of further violence occurring.

The richest man in the world agreed a 44-billion-dollar takeover bid with the Twitter board last month.

But the deal isn’t set in stone and will take a few months to process.

Once it goes ahead, the Tesla owner told the Financial Times “I would reverse the permanent ban”

According to Musk “Banning Donald Trump didn’t end Trump’s voice. It will amplify it among the right.”

Musk believes the decision to suspend Trump forever is morally wrong and foolish in the extreme.

He pointed out that Trump has said in the past he would not return to Twitter even if his account was reinstated.

Musk says his spoken to Twitter co-founder Jack Dorsey on permanent bans of accounts, and says that move should be extremely rare and reserved for accounts that are bots or scams.

He believes that if someone tweeted something “illegal or otherwise destructive to the world” then there should be suspension or post removal.

Musk wants Twitter to build more trust by sharing its algorithm and asking people to make suggestions on how to improve it.

Continue Reading

Money

Central bank expected to ease interest rates as election nears

Published

on

The Federal Reserve is expected to cut interest rates again this week, a move aimed at cooling inflation.

This quarter-point rate cut would bring the benchmark rate to about 4.6%, the second reduction this year.

Analysts expect that additional cuts could come in December, which would benefit borrowers by reducing loan costs.

If Trump were to win the election, economists say his proposals on trade and immigration could reignite inflation.

The Fed is balancing a strong economy and low unemployment with its inflation-calibrated rate cuts.

As Election Day approaches, all eyes are on both the Fed and the presidential race.

Continue Reading

Money

Big Tech pushes AI investments

Published

on

Tech giants like Microsoft and Meta are accelerating AI data center spending, with massive capital pouring into these projects.

Microsoft and Meta reported on Wednesday that AI investments are spiking their expenses, while Alphabet announced similar trends.

Amazon, due to report earnings shortly, is expected to mirror these projections, foreseeing further pressure on profit margins.

Wall Street is getting wary of the financial strain, as each company’s stock took a hit this week despite strong quarterly numbers.

Shares of Meta fell over 3%, and Microsoft saw a 6% drop, underscoring Wall Street’s jitters.

“It’s expensive to keep up with AI technology demands,” says GlobalData’s Beatriz Valle, emphasising a competitive race in AI capacity.

The high-stakes investments are starting to test investor patience in Big Tech’s ambitious AI journey.

Continue Reading

Money

Meta expects strong holiday ad revenue boost

Published

on

Meta’s holiday-quarter forecast beats expectations as AI tools drive growth

Meta Platforms, parent company of Facebook, has forecast holiday-quarter revenue that surpasses market expectations, anticipating a surge in ad spending as the year ends.

The projection comes as Meta’s AI-driven advertising tools and short-form video feature Reels have spurred revenue growth this year.

Meta’s shares dipped 2.5% in after-hours trading, despite a third-quarter profit of $6.03 per share—well above analysts’ forecast of $5.25.

Analysts expect digital ads to have a “blockbuster” year in 2024, helped by improved economic forecasts and steady consumer spending.

Meta, heavily reliant on advertising revenue, stands to benefit from increased holiday marketing as it eyes revenues of $45 to $48 billion this quarter.

The company’s third-quarter revenue reached $40.59 billion, narrowly topping analysts’ estimates.

With interest rates easing, analysts suggest Meta’s ad revenue could continue to thrive into the new year.

As holiday spending ramps up, Meta’s AI investments are paying off.

Continue Reading

Trending Now