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This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, August 10, 2022 Today’s newsletter is by Brian Cheung, an anchor and reporter covering the Fed, economics, and banking for Yahoo Finance. You can follow him on Twitter @bcheungz. In May, Elon Musk tweeted that a recession was coming, and that “some bankruptcies need to happen.” But this “rude awakening” the billionaire warned… Source link

(Bloomberg) — Elon Musk sold $6.9 billion of his shares in Tesla Inc. the billionaire’s biggest sale on record, saying he needed cash in case he is forced to go ahead with his aborted deal to buy Twitter Inc. Most Read from Bloomberg “In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock,” Musk tweeted late Tuesday after the sales were disclosed in a series of… Source link

LOS ANGELES — It was a grand opening ceremony for one of sports’ iconic franchises in late July. Los Angeles Lakers owner Jeanie Buss, along with former Laker greats, were in attendance at the team’s practice facility to promote Buss’ docuseries titled, “Legacy: The True Story of the LA Lakers,” scheduled to premiere Monday on Hulu. It’s a 10-episode series in which Buss quelled the notion that the project would not reveal any hard-hitting revelations due to being an in-house… Source link

The Justice Department has in recent weeks conducted new interviews for its investigation into Google’s ad technology, a sign it may be moving closer to filing its second antitrust case against the company, said three people with knowledge of the matter. The Justice Department for more than a year has investigated whether Google abuses its dominance over the interlocking technologies that deliver ads online. Its lawyers are now speaking again with publishers and Google’s competitors to… Source link

The former chief of the Justice Department’s national security division said Tuesday that the FBI warrant for the search of Donald Trump’s Mar-a-Lago home in Palm Beach, Fla., suggests prosecutors believe they have probable cause that there may have been violations of the World War I-era Espionage Act. That law has traditionally been used to target government leakers, such as former NSA contractor Edward Snowden. But it also “actually has provisions that apply to essentially the… Source link

The battle between LIV Golf and the PGA Tour has reached the first of what will surely be many courtrooms. U.S. District Court Judge Beth Labson Freeman heard arguments from attorneys representing both the PGA Tour and a consortium of eleven LIV-affiliated players on Tuesday afternoon. Three LIV players — Talor Gooch, Hudson Swafford and Matt Jones — were seeking a temporary restraining order that would permit them to compete in this week’s tournament, the first event of the FedEx Cup… Source link

Enlarge / Just a few of the many Google messaging logos. Can you name them all? Ron Amadeo Google has been unable to field a stable, competitive messaging platform for years and has thoroughly lost the messaging war to products with a long-term strategy. At least some divisions inside the company are waking up to how damaging this is to Google as a company, and now Google’s latest strategy is to… beg its competition… Source link

The last few years saw the markets go crazy. Between the COVID lockdowns and market crash, the rebound recovery, last year’s sustained bull run, and this year’s devastating first half that saw the bull turn into a bear. But in all of that, there have been stocks that have outperformed the market. These winning stocks have attracted attention from Jim Cramer, the well-known host of CNBC’s ‘Mad Money’ program. Among other things, Cramer has been following stocks which won big during… Source link

The top trending after-hours tickers on Yahoo Finance: Coinbase (COIN): Shares of the cryptocurrency exchange fell in after-hours trading after reporting a wider-than-expected loss and a 63% drop in revenue. Monthly transacting users totaled 9 million for the second quarter, down from 9.2 million in the prior quarter. Total trading volume declined to $217 billion, down 30% compared to Q1. JMP Securities’ Devin Ryan told Yahoo Finance that ‘even though trading volumes were right in line… Source link

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