Money
Twitter shareholders give Musk the green light
Twitter’s shareholders have given Elon Musk’s $44 billion takeover deal the go ahead
It’s not exactly good news for billionaire Musk, who is trying to get out of the deal, citing concerns with spam accounts on the platform.
Twitter will attempt to force Musk to go through with the purchase, arguing that it’s too late to back out.
However, that decision will ultimately be left to the courts, in Delaware.
It follows testimony from Twitter Whistleblower, Peiter Zatko, who claims the social media platform is not transparent.
“I’m here today because Twitter leadership is misleading the public, lawmakers, regulators and even its own board of directors.”
Peiter Zatko, twitter whistleblower
Zatko, Twitter’s former head of security, says the platform can track any user’s precise location, and he knows because he was asked to do it.
“A Twitter engineer… could then access and inject or put forward information as… any of the senators sitting here today… Yes, I am concerned.
The company’s cybersecurity failures make it vulnerable to exploitation, causing real harm to real people.
“It’s not far-fetched to say that an employee inside the company could take over the accounts of all of the senators in this room,”
Peiter Zatko, twitter whistleblower
The final decision will be made by the Judge, at a hearing in October.
Money
France receives lowest credit rating due to crisis
France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability
France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability
– Fitch Ratings downgraded France’s credit rating to A+, citing political instability and fiscal challenges.
– New Prime Minister Lecornu must secure budget approval amidst rising deficit and potential no-confidence vote.
Fitch highlighted political instability as a key factor undermining fiscal reforms, with France’s debt now at €3.3 trillion, or 113.9% of GDP.
The budget deficit increased to 5.8% of GDP and is expected to rise, posing challenges ahead.
Political Instability
The new prime minister faces a divided parliament and must secure budget approval by October 7.
The far-left plans a no-confidence vote against Lecornu, complicating further cooperation on legislative reforms, with S&P Global hinting at a potential downgrade.
Money
ANZ job cuts spark banking clash
ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.
ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.
ANZ has announced plans to cut 3,500 staff and 1,000 contractors over the next year, triggering a fierce debate between business leaders, unions, and government about the future of Australia’s banking sector.
The decision raises wider questions about the resilience of the business community and the role of politics, productivity, and technology in shaping employment.
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