Bloomberg - Evening Briefing - Twitter is not Tesla

Bloomberg Weekend Reading

Elon Musk plans to make Twitter a privately-held social media platform unfettered by restrictions on some types of speech. What that would actually mean however isn’t entirely clear. Though Musk seems to think drug jokes are fine, it could include loosening rules against hate speech and false information—not to mention reinstating certain banned accounts. One stipulation in the proposed $44 billion deal prohibits Musk from public comments that “disparage the company.” If the deal does go through, the richest person in the world is likely to face a different set of obstacles than he has at Tesla. As Liam Denning writes in Bloomberg Opinion, free speech “is considerably squishier than, say, selling half a million Model 3s.”

What you’ll want to read this weekend

European Union countries are moving to counter the energy crisis triggered by Russia’s war on Ukraine. Moscow said it would cut off gas to Poland and Bulgaria over ruble payments while Germany said it’s prepared to back a gradual ban on Russian oil. While Vladimir Putin has been forced by earlier defeats to shift his assault to Ukraine’s south and east, Kyiv is still unsafe, with Russian missiles killing more civilians this week.

U.S. consumers are spending, businesses are investing and unemployment is exceedingly low. And yet the economy contracted in the first quarter. That dip, it turns out, may simply reflect a surge in imports tied to solid consumer demand. In China, things have gone from bad to worse as Xi Jinping pursues his Covid-zero strategy and lockdowns spread. The economy is reeling, cases are soaring and public anger is mounting.

The collapse of Archegos Capital Management sent shock waves across the global financial world in 2021. This week, founder Bill Hwang and his deputy were indicted by a federal grand jury in New York for market manipulation and fraud. The more that’s learned about last year’s margin call meltdown, Matt Levine writes in Bloomberg Opinion, the stranger the story gets.

Bill Hwang  Source: Bloomberg

Weather prediction in the U.S. has long been the domain of the federal government. But as storms increase in frequency and ferocity, a new crop of private prediction platforms are supplementing U.S. data with their own—and claiming eyebrow-raising precision. Meanwhile, a new study finds flood risks are rising for coastal cities, and California’s historic drought could mean summer blackouts

Time to buy a new home? Probably not if your guide is bond manager Mark Kiesel. He sold his California house in 2006, predicting the bubble would pop (and it sure did). Now he’s ready to sell again. Competition remains fierce in the U.S. housing market, and is now being tested by mortgage rates at their highest level since 2010. If you must buy, however, billionaire Robert Toll’s New York penthouse is available for $22 million.

In Robert Toll’s Manhattan aerie, most rooms have views that span more than 180 degrees of the New York skyline. Courtesy of SERHANT. / by Krisztina Crane of Evan Joseph Studios.

What you’ll need to know next week

What you’ll want to see in Bloomberg Graphics

How Covid-19 Transformed the U.S. Economy

The coronavirus has been confirmed to have killed almost a million Americans. But over two years of monumental tragedy, the pandemic has also served to transform the U.S. economy. Many workers sent home in the first lockdowns may never return to a five-day week. Those fed up with their jobs quit in droves, and long-suffering laborers finally saw significant wage bumps (though still not in step with inflation). The rich got richer faster while the spread of automation accelerated. When the virus finally recedes, or at least ceases to be such a mortal threat, many of these changes will likely remain

The line for a Covid-19 test at the U.S. Capitol in January. The American economy is likely to have been permanently altered by the pandemic. Photographer: Drew Angerer/Getty Images

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Putin’s ‘depravity’

Friday, April 29, 2022

Bloomberg Evening Briefing View in browser Bloomberg US Defense Department spokesman John Kirby denounced Putin for the “depravity” of Russia's tactics in Ukraine and the “bizarre” claims he's

Artillery makes the difference

Thursday, April 28, 2022

Bloomberg Evening Briefing View in browser Bloomberg In the growing mythology of Ukraine's resistance to Russia's invading forces, light-footed infantry armed only with shoulder-fired missiles

Europe pushes back

Wednesday, April 27, 2022

Bloomberg Evening Briefing View in browser Bloomberg Russia fired missiles at a bridge across the Dniester estuary west of Odesa for the second consecutive day, a Ukraine railway official said. The

Russia turns off the gas

Tuesday, April 26, 2022

Bloomberg Evening Briefing View in browser Bloomberg Russia says it will cut gas flows to Poland and Bulgaria on Wednesday—a major escalation in the standoff between Moscow and Europe over Vladimir

Elon gets Twitter

Monday, April 25, 2022

Bloomberg Evening Briefing View in browser Bloomberg Elon Musk is buying Twitter for $44 billion, using one of the biggest leveraged buyout deals in history to take the 16-year-old social media

The next recession will be mini compared to the last 2 — and feel completely different

Monday, May 16, 2022

"The type of recession we're looking at is not like a serious, massive downturn in consumer spending across the board," one economist told Insider. View in browser Business Insider

$1 Trillion Worth of Risky Loans Packaged Into Highly-Rated Securities is not the End of the World

Monday, May 16, 2022

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The Daily StockTips Newsletter 05.16.2022

Monday, May 16, 2022

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Monday, May 16, 2022

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Sunday, May 15, 2022

Investors are united | Honda's getting nervous | TOGETHER WITH Hi Reader, here's what you need to know for May 16th in 3:05 minutes. 💥 Digital art fans, listen up: the first-ever NFT event

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Sunday, May 15, 2022

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Longreads + Open Thread

Saturday, May 14, 2022

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Amazon's advertising revenue is $31 billion and growing. Here's everything we know about its booming ad business.

Saturday, May 14, 2022

Here's the latest on Amazon's moves to expand its advertising business and the growing competition it faces. View in browser Business Insider Business Insider Business Insider Subscribe

Crypto chaos strikes

Saturday, May 14, 2022

Bloomberg Weekend Reading View in browser Bloomberg Follow Us Get the newsletter It's been a tumultuous year for investors so far, but for those with a stake in crypto, winter may already be here.

The battle is joined

Friday, May 13, 2022

Bloomberg Evening Briefing View in browser Bloomberg The artillery battle for Ukraine's eastern Donbas region is fully underway, according to the Pentagon, which estimated that defenders have