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November 10th - Japanese Prime Minister Sanae Takaichi aims to revitalize the economy with her first stimulus package and launch a new growth strategy through investment. According to a document released after the first meeting of an expert panel responsible for developing a new economic growth strategy for Japan by next summer, the panel recommended that the prime minister utilize the package to launch an effort to build strong growth through "crisis management investment and growth investment." The expert panel stated that the government should focus its investment on 17 sectors that Takaichi considers crucial to Japans economic growth. These sectors include semiconductors and artificial intelligence, shipbuilding, the defense industry, and key minerals. Takaichi has signaled a shift towards a more expansionary fiscal policy, stating that Japan is only halfway there in achieving stable inflation supported by wage growth. This suggests she wants the Bank of Japan to remain cautious in its gradual interest rate hikes. She also emphasized her commitment to implementing a responsible yet expansionary fiscal policy.Shares of Hungarian refiner Mol rose on November 10 after Prime Minister Viktor Orbán secured an waiver from U.S. sanctions on Russian oil—crucial to the companys operations. Following a meeting with President Trump at the White House on November 7 and the resulting respite, Mol shares jumped as much as 3.1% on Monday, marking their biggest gain in nearly two weeks. Even after the Russia-Ukraine conflict prompted EU counterparts to drastically reduce purchases, Mols refineries in Hungary and Slovakia continue to rely on Russian crude. The price differential for cheap Russian oil has helped Mol widen its refining margins and boosted third-quarter earnings. It remains unclear how long Mols waiver will last; Orbán stated he has been granted an "indefinite" respite, while White House officials say its only for one year. Regardless, under an EU plan, Hungary must cease importing Russian energy after 2027.Citigroup: Maintains a 30-day short-term bullish view on Nvidia (NVDA.O), raising its price target from $210 to $220.Federal Reserves Daly: We are likely experiencing a negative demand shock.Federal Reserves Daly: Price expectations remain relatively solid.

Elon Musk Will Depart Twitter Once A Replacement Is Named

Charlie Brooks

Dec 21, 2022 11:42

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Elon Musk announced on Wednesday that he will quit as Twitter's CEO as soon as a replacement is found, just days after a poll revealed that the majority of respondents favored his removal.


Musk stated in a tweet that he will quit as soon as he finds someone somebody "dumb enough to accept the position." He intends to lead Twitter's software and server teams once a replacement has been recruited.


The search for a new Twitter CEO began immediately after roughly 58% of 17.5 million respondents favored Musk's departure as the social media platform's leader. Musk, who initiated the survey, stated that he will "abide" by the results.


Musk is accused of shirking his responsibilities as CEO of the electric vehicle manufacturer Tesla Inc. (NASDAQ:TSLA), prompting the company to take this action. In recent weeks, Tesla's share price has dropped, although Musk's sale of nearly $3 billion worth of shares also contributed to the decline.


The CEO of Tesla recently stated that he was juggling too many tasks due to his Twitter job, but has raised worries about his ability to find a suitable replacement.


Several prominent personalities, including National Security Agency whistleblower Edward Snowden, have offered for the position.


Musk's takeover of the social media network was nevertheless fraught with controversy, as he sacked the majority of the platform's workforce and oversaw the reinstatement of some contentious accounts, including that of former U.S. President Donald Trump.


More recently, Musk faced criticism after Twitter suspended the accounts of many journalists seen to be critical of the Tesla CEO, as well as accounts tracking his and other prominent public figures' real-time locations. The accounts were reinstated after a series of polls demonstrated that the public supported their reinstatement.


Musk was also lambasted for stating that only Twitter Blue subscribers would be able to vote on Twitter rules. Prior to this, the CEO of Twitter stated that all significant decisions on the social media network will be decided by popular vote.

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