In most cases, news that a company could be bought out at a price higher than its market value sends investors into a buying frenzy that rackets up the company’s share price. But that wasn’t exactly the case for Twitter on Thursday.
The company’s stock fell almost 2% during regular trading on the day that Elon Musk offered to buy the social media platform for $43 billion—roughly $7 billion more than its current market valuation.
The lack of support from investors is one of the reasons Wall Street analysts are skeptical that Twitter’s board of directors would accept the offer. It could be a sign that investors are underwhelmed with Musk’s bid, particularly over concerns as to how he would finance it. By Thursday afternoon, a flurry of inves…
Imagine taking a long, hot shower without wasting water and energy.
That’s the guilt-free promise of a recirculating shower, which continuously filters, sterilizes and reuses water that would otherwise go down the bathroom drain. The technology reduces water consumption up to 90% and energy use by 80% compared to a conventional shower, according to manufacturers of the devices.
“We are addressing two of the problems the world is facing, climate change and water shortages, without sacrificing the shower experience,” said Troels Grene, chief executive officer of Flow Loop, a Danish company that has developed a recirculating shower called the Eco Loop.
Flow Loop is one of several startups bringing the technology to market in northern Europe, with plans t…
In a sign of how far China’s leaders have drifted from their revolutionary roots, the biggest shock gripping the country today is that the ruling Chinese Communist Party (CCP) might actually be socialist after all.
The shakeup centers on the phrase “common prosperity.” It was first introduced by revolutionary leader Mao Zedong but has now been taken up as the defining mantra of a new era as imagined by current strongman President Xi Jinping.
In an Aug. 17 speech to the CCP’s Central Committee for Financial and Economic Affairs—his first since the secretive, annual summer leadership conclave at the seaside town of Beidaihe—Xi declared that “Common prosperity is an essential requirement of socialism and a key feature of Chinese-style m…
Gap Inc. is backing the decision by its star athlete endorser Simone Biles to put her mental health first and sit out the gymnastics team competition at the Tokyo Olympics.
“We stand by Simone and support her well-being both in and out of competition,” Kyle Andrew, chief brand officer for Gap’s Athleta line, said Tuesday in a statement. “Being the best also means knowing how to take care of yourself. We are inspired by her leadership today and are behind her every step of the way.”
The world’s preeminent gymnast, age 24, pulled out of the team competition after faltering on a vault, citing her state of mind and the risk of injury. Her team went on to win a silver medal.
On Wednesday, USA Gymnastics said Biles would also be pulling ou…