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☆ Elon Musk's net worth slips below $200 billion as Tesla shares waver
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Adrees Latif/File PhotoNov 8 (Reuters) - Elon Musk's net worth dropped below $200 billion on Tuesday as investors dumped Tesla Inc (TSLA.O) shares on fears the top executive and largest shareholder of the world's most valuable electric-vehicle maker is more preoccupied with Twitter. Musk now has a net worth of $194.8 billion, according to Forbes, with a big share of that coming from his nearly 15% stake in Tesla, which has a market value of $622 billion. The company has lost nearly half its market value and his net worth has dropped by $70 billion since he bid for Twitter in April. Since buying Twitter, Musk has made very few tweets on Tesla, a practice that helped him gain traction on the platform. The net worth of the world's richest person, who also owns rocket company SpaceX, is roughly $40 billion more than the second richest person, LVMH-owner Bernard Arnault.

Nov 8 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. There's a meltdown in the Wild West of crypto, equity markets lose their recently-found Mojo, volatility spikes higher and investors flock to U.S. Treasuries for safety and security. But leaving to one side the intraday chop and churn, particularly in crypto, investors may even feel a sense of comfort with what is a recognizable play-book. One example is the S&P 500 'SKEW' options index of implied volatility, which is at its lowest level since 2009. Investors are paying the least in 13 years to protect themselves against - an outsized fall on Wall Street versus an outsized rise.

☆ Elon Musk says he would pay $8 a month for Twitter subscription amid controversy from celebrities and lawmakers over the blue tick fee
▼ + stars: | 2022-11-08 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Elon Musk said he would pay $8 a month for Twitter Blue, which gives users a blue verified tick. Musk has doubled down on Twitter's plans to charge $8 to users who want to have a blue tick. The phrase was in fact the reply, which Musk sent to Rep. Alexandria Ocasio-Cortez when she slammed his plans to charge Twitter users $8 for blue ticks. A verified Twitter user commented on Musk's photo of the t-shirt on Monday, saying "are you going to pay the $8, elon?" The New York Times reported that Twitter was delaying the launch of its paid verification plan until after the midterm elections.

☆ Why most Americans' jobs aren't at risk of the kind of mass layoffs we saw in the last 2 downturns, despite big cuts at places like Twitter and Meta
▼ + stars: | 2022-11-08 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

The US unemployment rate rose to 3.7% in October, but it remains near the lowest level in the past 50 years. While the most recent layoffs, for instance, have yet to be reflected in most up-to-date economic data, the US economy is far from shedding jobs. That's because the unemployment rate is expected to tick up during the recession that could be on the horizon. The Fed is projecting the unemployment rate to climb in 2023 from 3.7% to 4.4%, which would lead to roughly 1.5 million Americans losing their jobs. Bank of America is projecting the unemployment rate to reach 5.5% by the end of next year.

☆ As Covid cases tick up, here are latest CDC guidelines for testing and isolation
▼ + stars: | 2022-11-07 | by ( Aria Bendix | Aria Bendix Is The Breaking Health Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +4 min

Guidelines from the Centers for Disease Control and Prevention about masking, testing and isolation haven't changed much since the CDC last updated its recommendations in August. When to wear a maskSince February, the CDC has based masking guidelines on three metrics: new Covid cases, hospital capacity and hospital admissions. The Food and Drug Administration recommends that people with a known exposure who test negative take a second test 48 hours later. for at least five days after your positive test (details about when to leave isolation can be found below). If you continue to test positive beyond day 10, the CDC recommends you continue masking.

☆ Asia stocks resilient as Wall Street slips, China trade disappoints
▼ + stars: | 2022-11-07 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

"With China going into winter, most analysts think a change in zero-COVID is unlikely until at least March." A little of that reversed on Monday, with the Aussie down 0.7% at $0.6421 after jumping 3% on Friday. S&P 500 futures dipped 0.2%, while Nasdaq futures lost 0.3%. EUROSTOXX 50 futures lost 0.2% and FTSE futures 0.6% amid reports the UK government was planning tax rises and spending cuts. Oil futures lost some of their recent gains with Brent off $1.07 at $97.50, while U.S. crude dropped $1.26 to $91.35 per barrel.

☆ Mark Cuban tells Elon Musk 'your business, your decision' after his suggestion that only certain users should pay the $8 verification fee was bluntly rejected
▼ + stars: | 2022-11-07 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Mark Cuban told Elon Musk that Twitter was "his business," following an exchange between the pair. Elon Musk replied to Cuban, saying: "$8 for all." Cuban wrote in the tweet. Musk replied to Cuban, saying: "$8 for all." Your decision," Cuban wrote in a quote-tweet to Musk.

☆ Morning Bid: Polls and prices
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. Chinese stocks continued last week's tentative recovery, however, despite officials throwing cold water on any early end to draconian COVID lockdown policies. Some correction of the market's severe underperformance this year was about the only cogent reason given for the ongoing stock bounce. European Central Bank President Christine Lagarde and ECB board member Fabio Panetta both speak. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ U.S. stocks slip as China sticks to pandemic policy
▼ + stars: | 2022-11-07 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

"With China going into winter, most analysts think a change in zero-COVID is unlikely until at least March." A little of that reversed on Monday, with the Aussie down 0.4% at $0.6440 after jumping 3% on Friday. The dollar was just a shade former on the yen at 146.77 yen , while the euro eased a fraction to $0.9944 . Markets are now waiting on Chinese trade data due later in the session for a guide on global demand. Oil futures lost some of their gains with Brent off $1.66 at $96.91, while U.S. crude dropped $1.85 to $90.76 per barrel.

☆ U.S. stocks dip, dollar up as China sticks to pandemic policy
▼ + stars: | 2022-11-06 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

"With China going into winter, most analysts think a change in zero-COVID is unlikely until at least March." It also sent the yuan surging and triggered a round of profit taking on long U.S. dollar positions, particularly against commodity sensitive currencies such as the Australian dollar. The U.S. dollar index bounced 0.4% having dived almost 2% at the end of last week. Median forecasts are for annual CPI inflation to slow to 8.0% and for the core to dip a tick to 6.5%. Oil futures lost some of their gains with Brent off $1.79 at $96.78, while U.S. crude dropped $1.71 to $90.90 per barrel.

☆ Welcome to the new labor market, where everyone still quits all the time and some people will just never come back to work
▼ + stars: | 2022-11-06 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

The US labor market includes millions of Americans quitting in near-record numbers month after month. Cyclical and structural changes are affecting labor force participation, according to one expert. At the same time, the labor market is still bustling, even as it starts to slowly cool. The US labor force participation rate plunged during the pandemic to 60.2% in April 2020. Some people are just staying on the sidelines, and not heading back to the labor force — adding to the labor shortage and the tight labor market businesses are dealing with.

☆ The Fed, earnings, jobs and China: How we think about this week's deluge of data
▼ + stars: | 2022-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

It is very premature, in my view, to think about or be talking about pausing our rate hikes. The news sent those stocks reliant on China for growth — Starbucks, Estee Lauder and Wynn Resorts, among many others — higher. Or bad news could just be bad news if weak data signals a recession ahead. And good news could be good news: for example, if China reopens and U.S. companies exposed to the region see a boost in demand. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Elon Musk's plan to charge for blue ticks risks Twitter's 'magic', says 'curious and worried' former executive
▼ + stars: | 2022-11-04 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

A former Twitter executive said he is "curious and worried" about Elon Musk's plans for Twitter. Musk said this week he plans to charge Twitter users $8 a month for a blue-tick verification. The new owner of Twitter said this week that users could be charged $8 a month for "verified" status and a blue tick. "It's great for people who have money and want to spend money on having their voice amplified," Borrman told BBC News. "Elon obviously has a particular way he likes to manage and approach things that's quite different from the way Twitter has been managed in the past," he told BBC News.

☆ Robinhood’s Cash Riches Pay Off
▼ + stars: | 2022-11-03 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Rising rates are helping Robinhood Markets survive slow markets. There’s still more to be done to truly thrive again. The broker reported Wednesday that its net interest revenue surged 73% from the second quarter to $128 million in the third quarter. That helped its average revenue per user to once again tick higher, to $63 from $56.

☆ What Cramer is watching Thursday — No Fed reset, Qualcomm rough guide, iPhone waits
▼ + stars: | 2022-11-03 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Short-term inventory "reset," meaning there's a chip glut that must be dealt with before the price-to-earnings multiple can be determined. Wall Street was looking for fiscal first-quarter (current quarter) revenue of $12 billion, but company guide was $9.2 billion to $10 billion. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Stephen King compares Elon Musk with a fictional character who cons friends into doing chores and charges them, following Twitter verification dispute
▼ + stars: | 2022-11-03 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Stephen King likened Elon Musk to a character who cons friends into doing chores and then charges them. King referenced the protagonist in "The Adventures of Tom Sawyer" by Mark Twain. King has criticized Musk for planning to charge Twitter users $8 a month to stay verified. "Musk makes me think of Tom Sawyer, who is given the job of whitewashing a fence as punishment," King tweeted on Wednesday. The author has spoken out about plans for a monthly verification fee for Twitter users who want to keep their blue tick.

☆ Twitter could start charging for blue ticks next week, and Elon Musk doesn't want to hear what you think about it: Your feedback is appreciated, now pay $8'
▼ + stars: | 2022-11-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Twitter could start charging for blue verification badges as early as next week, per Bloomberg. Twitter users who are already verified will have months to start paying for the status or lose it, the news outlet added. Other than charging for verification, Twitter also plans to open up its edit function to all Twitter users for free, Bloomberg reported. It's now available to Twitter Blue users who pay $4.99 a month. Twitter Blue is only available in the US, Canada, Australia, and New Zealand right now.

☆ Turkey's president says he wants to discuss Twitter's $8 blue tick fee with Elon Musk to see if he can avoid paying it, a report says
▼ + stars: | 2022-11-03 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Turkey's president, Recep Tayyip Erdogan, may talk to Elon Musk about Twitter's verification fee, per ATV. Erdogan told ATV he could "carry out some diplomacy" with Musk, too. Musk has doubled down on verified users paying $8 a month for a blue tick and other features. The charge for Twitter verification "might be different for us," Erdogan told ATV, Reuters reported. Other politicians, celebrities, journalists, and high-profile figures have also been verified on the site, but some may lose their blue tick if they refuse to pay the $8 fee when it's implemented.

☆ Elon Musk put his foot down on Twitter's $8 blue tick fee, telling users they can keep complaining but the price won't change
▼ + stars: | 2022-11-02 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Elon Musk said Twitter will introduce an $8 verification fee, no matter how much users complain. Musk has drawn criticism for plans to charge users to be verified on the site. This sparked controversy among some verified Twitter users who were unhappy at the news that they'd have to start paying for the blue tick. Musk is planning to overhaul Twitter Blue, the site's premium subscription service, with these features. The Verge reported on Sunday that Musk was aiming to charge $20 monthly for Blue, which is currently $4.99 per month.

☆ Celebrities including Lynda Carter and Josh Gad are criticizing Elon Musk for saying he would make Twitter users pay for a blue tick
▼ + stars: | 2022-11-02 | by ( Kate Duffy | ) www.businessinsider.com time to read: 1 min

Elon Musk has announced that Twitter would introduce an $8 monthly verification fee for users who want to keep their blue tick. Elon Musk’s Twitter account is displayed on the screen of an iPhone on April 26, 2022 in Paris, France. Chesnot/Getty ImagesDespite criticism, Musk has doubled down on his plans to charge users who want to remain verified on the platform. The $8 subscription fee is cheaper than what The Verge reported, which was $20 monthly. Users who pay for the subscription will not only get the blue tick, but also the ability to long-form videos, fewer ads, and priority in search, according to Musk.

☆ As chaos continues with Twitter under Musk, advertiser patience is starting to wear thin
▼ + stars: | 2022-11-02 | by ( Lindsay Rittenhouse | Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Advertisers weigh whether to pull ad spend from Twitter or stay. He plans to hold a virtual meeting with advertisers this Thursday but patience is wearing thin. But the Twitter team is in such disarray, attendees aren't clear who would be on the call to settle advertisers' nerves. A separate source said Meg Haley, Twitter VP of revenue product specialists, has been taking charge of conversations concerning advertiser partnerships in the interim. Some in the advertising community also question how committed Musk's Twitter will be to advertising in the long-term.

☆ Binance CEO was in the dark about Musk's Twitter U-turn: 'It's very hard to predict what Elon will do next'
▼ + stars: | 2022-11-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Co-founder and CEO of Binance, Changpeng Zhao, speaks on stage during the opening night of Web Summit 2022. "It's very hard to predict what Elon will do next," Zhao, who goes by "CZ" online, told the audience on the opening night of Web Summit Tuesday. Binance, the world's largest crypto exchange, is now one of Twitter's equity backers, kicking in $500 million to help Musk buy the company. LISBON, Portugal — The boss of crypto exchange Binance says he wasn't privy to Elon Musk's thinking when the billionaire backed away from, and then revived, his takeover of Twitter. The protracted saga over Musk's purchase of Twitter drew to a close last month when Musk agreed to a final deal with the company.

☆ Binance CEO says he anticipates 90% of Elon Musk's newly proposed Twitter features will fail: 'The majority of them will not stick'
▼ + stars: | 2022-11-02 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Binance CEO Changpeng "CZ" Zhao said he anticipates about 90% of Elon Musk's ideas for Twitter will fail. Zhao said the best way to improve Twitter is to define new features and see what sticks. Musk has already proposed charging $8 a month for blue check marks and bringing back Vine. "That's how you figure out the rest of the 10% of the features that will stick," he said. He added; "10 to 20 years from now, we're very confident that this will be a much stronger platform than Twitter yesterday."

☆ Elon Musk tells Stephen King that Twitter needs to pay the bills somehow after the novelist said he'd quit the site if he was charged $20 for verification
▼ + stars: | 2022-11-01 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Elon Musk said Twitter has bills to pay after Stephen King threatened to leave the site over a $20 verification fee. Musk suggested to King that verified Twitter users could be charged $8 a month. The billionaire made a suggestion to King that the Twitter verification fee could be $8 a month. A few Twitter users challenged King on his tweet, saying he was wealthy enough to afford a $20 verification fee. Musk's comments to King followed the widely reported claims that a fee for verified Twitter users could soon come into place.

☆ Musk says Twitter will charge $8 for blue tick
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

Blue for $8/month," Musk said in a tweet, adding that the price will be adjusted by "country proportionate to purchasing power parity". Musk's comments follow media reports that the Tesla boss was looking at the process of profile verification and how the blue ticks were given out. Twitter use to hand out blue ticks to note-worthy profiles based on its own criteria. Twitter already has a subscription service called Twitter Blue, which was launched in June last year and offers access to features such as an option to edit tweets. Amid speculations that Twitter may soon start charging verified users a monthly fee of $20 for blue ticks, bestselling author Stephen King tweeted: "If that gets instituted, I'm gone like Enron."

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