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Why has Elon Musk sold billions of Tesla stock AGAIN?

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Elon Musk has sold nearly 4 billion dollars in Tesla stock

According to a series of forms filed with the Securities and Exchange Commission, the billionaire has sold another 3 point 4 billion in Tesla shares

This takes the tally of Tesla shares sold off to almost 20 billion dollars this year.

The sale is mostly to finance his $44 billion dollar acquisition of Twitter.

Musk sold over 8 billion dollars in shares back in April, and tweeted that no further Tesla sales planned after today

Then he sold another 6 point 9 billion in August, again saying he was done with selling, until today.

Twitter relies on advertising for the vast majority of its revenue, with Musk now the CEO of the platform… most cost-saving and revenue raising moves are expected to be introduced.

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A British digital currency “later this decade”

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The Bank of England and Britain’s finance ministry think the UK is likely to need to create a central bank digital currency later this decade.

“On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future,” the Telegraph quoted BoE Governor Andrew Bailey and finance minister Jeremy Hunt as saying in the joint report.

“It is too early to commit to build the infrastructure for one, but we are convinced that further preparatory work is justified,” the Telegraph quoted the report saying.

The BoE declined to comment on the Telegraph article, but said a joint consultation on CBDC issues would be published shortly.

A government source said the report would be published next week.

BoE Deputy Governor Jon Cunliffe is due to give a speech on Tuesday to update the finance industry on the BoE’s CBDC work.

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Business

Disney’s Drama

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What’s going on at Disney and why is the world’s largest entertainment company in trouble?

 
Dreams are a wish your heart makes, or at Disney, dreams are having a tough time of coming true.

After decades of turning children’s dreams into fantasies, the mouse-house is facing a crisis of leadership.

This Ticker Original looks at how the Walt Disney Company got here, and what happens next. #disney #bob iger

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Business

The Tech Market Crash

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Since the Global Financial Crisis, tech companies have been riding high and making billions, so what happened?

 
It’s been a shocking year for tech companies. Riding high off the back of the pandemic, reality suddenly hit.

Across Silicon Valley, and spreading to Wall Street, the once darlings of the Nasdaq were suddenly hit hard.

So what happened, and where to from here?

This Ticker Original investigates. #snapchat #apple #tech stocks #nasdaq

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