Friday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.
Elon Musk: Twitter deal is “on hold”
Musk says his planned $44 billion purchase of Twitter is temporarily on hold.
Twitter stock is cratering, while Tesla is soaring.
Musk said in a tweet that he’s waiting for more details on a report saying that spam and bots make up fewer than 5% of Twitter accounts. Some analysts believe the billionaire, who has been vocal about cleaning up the social media platform’s problems with bots that imitate real people, is skeptical of the claim, leading him to put the deal on ice. casting doubt on the report by putting the deal on ice.
U.S. Senator calls on companies to give reasons for rising prices
Senator Elizabeth Warren, a Democrat from Massachusetts, wants companies to publicly reveal why they are raising prices.
Bloomberg News got a look at the proposed legislation and says it would allow the government to better investigate and police price increases.
USDA adjusts 2022 crop prediction
The U.S. Department of Agriculture has lowered this year’s corn crop prediction as a wet spring delayed planting in the Midwest.
It says global balance sheets for corn and wheat continue to tighten, suggesting the world will face relatively high food prices for an extended period.
Zoom stocks fall to pre-pandemic level
One analyst is throwing in the towel on Zoom video, saying it has “limited upside.”
Zoom stock is already down 85% from its pandemic highs.