Money Talks

After months of legal wrangling and suggestions he wanted to pull out of the deal, Elon Musk has finally taken control of Twitter. The outspoken billionaire has tweeted about his new $44B acquisition, as the company's CEO and CFO were shown the door. He's expected to step in as Twitter's interim chief executive, while also remaining at the helm of Tesla and SpaceX. And as Melinda Nucifora reports, all eyes will be on how Musk will transform the struggling social platform.

For more on this, we spoke to Daniel Ives, managing director of Wedbush Securities.

#ElonMusk #Twitter #SocialMedia

Rishi Sunak became Britain's third prime minister in less than two months on Tuesday. But he inherits a government facing political and economic chaos. His government has already delayed the announcement of its plan to repair the country's public finances by more than two weeks, to ensure the programme reflects the latest and most accurate forecasts. Tulay Kalyon Haznedaroglu explains the economic challenges that Sunak now faces.

For more on British economy, we spoke to economist Taha Arvas. He joined us from Tashkent, Uzbekistan.

#RishiSunak #Britain #UnitedKingdom

Credit Suisse is restructuring its business as the bank attempts to put years of scandals behind it. The Swiss lender has finally outlined its long-awaited overhaul, what its chairperson Axel Lehmann dubbed a 'blueprint for success', after reporting $4B of net losses in the third quarter. But the radical turnaround plan could involve up 9,000 job losses.

#CreditSuisse #Restructuring #Earnings

Amazon shares plummeted 13% in extended trading on Thursday after the company issued a disappointing Q4 forecast and missed on revenue estimates. Like the rest of Big Tech, Amazon has had a rocky year so far as it confronts macroeconomic headwinds, soaring inflation and rising interest rates.

For more on this, we spoke to Susannah Streeter, who is an investment analyst at Hargreaves Lansdown.

#Amazon #Nasdaq #Earnings

The International Energy Agency has said the world faces its first "truly global energy crisis" as a result of the war in Ukraine. The conflict is expected to have long-lasting effects on energy supply and markets. Despite this, natural gas prices in Europe have been plunging in the past two days.

For more on energy markets, we spoke to Yousef Alshammari, who is the CEO of CMarkits and Senior Research Fellow at Imperial College London.

#Energy #NaturalGas #GasPrices

US tech stocks tumbled in after-hours trading after some of the industry's biggest companies reported disappointing results, suggesting that this year's $5.5T selloff hasn’t reached bottom yet. The quarterly updates from Microsoft Corp., Alphabet Inc. and Texas Instruments Inc. underscored growing pressure on everything from corporate IT budgets to digital ad spending and chips for industrial machinery.

For more, we spoke to Naeem Aslam, who is the chief market analyst at AvaTrade in London.

#USStocks #Nasdaq #TechEarnings

The British pound is trading higher against the US dollar and the euro on Tuesday after the announcement that Rishi Sunak would replace Liz Truss as UK Prime Minister. Sunak will be formally confirmed as the country's new leader today amid a period of economic turbulence.

For more, we spoke to Jameel Ahmad, who is the chief investment strategist for MENA at Alpari in Dubai.

#RishiSunak #UnitedKingdom #Pound

Stocks in Hong Kong are trading at their lowest in more than a decade as investors continue to sour on the health of the Chinese economy. Data released on Monday showed the Chinese economy grew by 3.9% in the three months to September. That was better than forecast, but it did little to bolster market sentiment.

For more, we spoke to Han Tan, who is the chief market analyst at Exinity Group in Abu Dhabi.

#ChinaEconomy #ChinaGDP #StockMarket

As the world's largest economy continues to slow down, its largest banks are preparing for the worst. US lenders are propping up allocations to deal with bad loans and contending with a drop in demand for new investments.

For more, we spoke to economist and professor Joann Weiner, the director of the Applied Economics graduate programme at George Washington University. She says she doesn't believe that the US economy is going to a long and protracted recession.

#UnitedStates #WallStreet #BankEarnings

In the UK, Prime Minister Liz Truss has resigned just 44 days after taking office. Truss had come to power, promising to rein in the rising cost of living and reinvigorate the slowing economy. But her government's plan to cut taxes unravelled due to a lack of finances and many members of parliament from her own party threatened to vote her out, prompting Truss to step down.

For the details on UK economy, we were joined by economists Luke Bartholomew and Taha Meli Arvas.

#BritishEconomy #LizTruss #Resignation