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Market News: Trump welcomed Netanyahu and expressed optimism about reaching an Israel-Hamas agreement "this week."On July 7, the 27th Senate election of the Japanese Diet was scheduled for voting on the 20th. The latest opinion poll conducted by Kyodo News from the 5th to the 6th showed that the opposition camp was more popular than the ruling coalition, and nearly half of the respondents hoped that the ruling coalition composed of the Liberal Democratic Party and the Komeito Party would not achieve the goal of more than half of the seats. The Japanese Senate is responsible for legislative review and government supervision. It has 248 seats. The term of office of members is six years, and half of them are re-elected every three years. This election will focus on 125 seats. In addition to 74 constituency seats and 50 proportional representation seats, there is also 1 by-election seat. According to Japanese media, the results of this Senate election will determine the fate of Shigeru Ishibas cabinet. If the ruling coalition wins less than 50 seats, Japanese Prime Minister Shigeru Ishiba may resign or reorganize the ruling coalition.On July 7, Goldman Sachs said it expects the eight OPEC+ members to increase their oil production quotas by 550,000 barrels per day in September, thereby completely canceling the voluntary production cuts of 2.2 million barrels per day. OPEC+ hopes to restore idle production capacity to normal as global oil demand shows resilience. Goldman Sachs said: "The decision to accelerate the pace of production increases announced on Saturday strengthens our confidence. We have pointed out since last summer that OPEC+ will shift to a more long-term balanced strategy, focusing on normalizing idle production capacity and market share, supporting internal cohesion, and strategically restricting US shale oil supply." Goldman Sachs expects that the crude oil production of the eight OPEC+ members will increase by 1.67 million barrels per day from March to September to 33.2 million barrels per day, of which Saudi Arabia accounts for more than 60% of the increase.Jianpeng Holdings (01722.HK) rose more than 105%.Both U.S. and Brent crude oil prices fell by more than 1% during the day, and are now trading at $64.93 per barrel and $67.2 per barrel respectively.

Twitter CEO Says Two Leaders to Leave, Hiring Suspended During Musk Takeover

Charlie Brooks

May 13, 2022 10:00

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Two senior Twitter (NYSE:TWTR) leaders who oversee the consumer and revenue divisions will leave the social media company, CEO Parag Agrawal announced in a memo to employees on Thursday. This is one of the most significant changes at the company since billionaire Elon Musk announced he would acquire it for $44 billion.


Agrawal also stated in the memo, which was seen by Reuters, that Twitter would halt the majority of hiring and analyze all existing job offers to decide whether any "should be retracted."


He ascribed the decision in part to Twitter's inability to meet user growth and revenue benchmarks in order to preserve confidence that it might accomplish 2020's aggressive growth goals.


Agrawal wrote, "We must continue to be deliberate about our teams, hiring, and expenses."


The company had aimed for $7.5 billion in annual revenue and 315 million daily users by the end of 2023, but in its most recent quarterly report, it abandoned these targets.


On Thursday, both Kayvon Beykpour, who ran Twitter's consumer division, and Bruce Falck, who supervised revenue, posted that their departures were not voluntary.


"Parag requested me to resign after informing me that he intends to take the team on a new route," tweeted Beykpour, adding that he was still on paternity leave from Twitter.


Falck stated, "I'll clarify that I, too, was fired by (Parag)," however he later deleted the tweet.


Falck congratulated his staff in a series of tweets and altered his bio to indicate that he was unemployed.


"Your efforts allowed us to accomplish the outcomes we did; quarterly revenue does not lie. Google it, (NASDAQ:GOOGL) "he said.


Jay Sullivan, who led the consumer unit during Beykpour's sabbatical, will become the division's permanent leader. Agrawal stated in the memo that he will also oversee the revenue unit until a new head is appointed.


Agrawal stated that while no layoffs are anticipated, Twitter will lower its spending on contractors, travel, marketing, and real estate.

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