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Tuesday, August 16, 2022
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Elon Musk sells $7B in Tesla shares ahead of Twitter fight

Elon Musk has sold nearly $7 billion worth of shares in Tesla as the billionaire gets his finances in order ahead of his court battle with Twitter. Musk disclosed in series of regulatory filings that he unloaded about 8 million shares of his company Tesla Inc. in recent days.

EXPLAINER: Mixed US inflation signs. Where are prices going?

Consumers struggling with skyrocketing prices for food, gas, autos and rent got a tantalizing hint of relief last month, when prices didn’t budge at all from June after 25 straight months of increases. With gas prices continuing to fall, inflation is probably slowing further this month.

Pfizer buying spree continues with $5.4B hematology deal

Pfizer will spend about $5.4 billion to buy Global Blood Therapeutics as the pharmaceutical giant continues to invest some of the cash influx reaped during the COVID-19 pandemic.

Wall Street ending flat as investors await inflation updates

Major stock indexes on Wall Street gave up early gains and ended a choppy day of trading little changed Monday. The S&P 500 and Nasdaq each slipped 0.1% after shedding gains of 1% and 1.6%, respectively. The Dow Jones Industrial Average closed 0.1% higher.

Amazon workers at UK warehouse stop work to protest pay

More than 700 Amazon warehouse workers in England staged a protest Thursday in a dispute over pay, in the latest sign of workplace friction stoked by Britain’s cost of living crisis and a growing discontent among employees over wage and working conditions.

How to recession-proof your life amid economic uncertainty

Prices for gas, food and rent are soaring. The Federal Reserve has raised interest rates to the highest level since 2018. The U.S. economy has shrunk for two straight quarters.

Stocks slip on Wall Street after another meandering day

U.S. stocks dipped Tuesday following another day of meandering trading, as Wall Street debates whether the market’s strong recent run is the start of a turnaround or just a temporary blip.

Piece Lays Out Causes for Housing Affordability Crisis

A piece this week in the Atlantic lays out why housing is so expensive, pinning the blame on things like material costs, anti-building rules, NIMBY attitudes and other barriers.

Apple’s $2.5 billion investment in affordable housing is building new communities

As part of its continued financial contributions to creating affordable homes, Apple is celebrating the new communities that are being formed from its partnerships with Californian housing organizations.

US economy shrinks for a 2nd quarter, raising recession fear

The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.