Dorsey Tried to Add Musk to Twitter’s Board Well Before Deal

In another message, Dorsey wrote “back when we had the activist come in, I tried my hardest to get you on our board, and our board said no. That’s about the time I decided I needed to work to leave, as hard as it was for me.” Dorsey said Twitter’s board is “risk averse” and … Read more

US Redoubles Efforts to End Dependence on Russian Nuclear Fuel

“We are going to get Congressional support in a bipartisan way for us to make our own fuel cycle supply chain independent, certainly of Russia,” Granholm, 63, said in an interview at the International Atomic Energy Agency in Vienna. “We’ve got to make this happen for our own independence and national security.”

Porsche Rises in Landmark IPO Weathering Tough Markets

Porsche’s listing is a bold move into public markets, which have been largely shut to IPOs for most of the year, with companies shying away from seeking new listings because of the European energy crisis, rising interest rates and record inflation. The sale will help Volkswagen raise funds to plow into its electrification push, while … Read more

Hurricane Ian’s Damages Are Forecast to Be Worse Than 1992’s Andrew

Damages from Ian are expected to range from $60 billion to $70 billion given the latest forecasts, according to Chuck Watson, a disaster modeler with Enki Research. That would make Ian the sixth-costliest US hurricane, below Ida’s $78.7 billion in 2021, according to data from the National Oceanic and Atmospheric Administration. 

BOE Steps Back Into Bond Market to Restore Stability

The move was recommended by the Financial Policy Committee, amid fears of a “material risk” to financial stability if the dysfunction continued. “This would lead to an unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy,” the BOE said. It is not a monetary policy decision.

IMF Tells UK to ‘Re-Evaluate’ Tax Cut as Global Criticism Mounts

(Bloomberg) — The International Monetary Fund criticized the UK’s package of tax cuts and other steps as “untargeted” and said the measures are likely to increase inequality, weighing in after the plan sent the pound to a record low.

Celsius CEO Resigns as Bankrupt Crypto Lender Works to Survive

Mashinsky joins a growing list of crypto executives who have resigned or announced plans to step down during the market’s downdraft. Jesse Powell, the often controversial co-founder of crypto exchange Kraken, announced last week that he was giving up the role of CEO to become chairman. In August, crypto brokerage Genesis’s CEO, Michael Moro, and … Read more