Home » Business Highlights: Musk and Twitter, Ukraine’s economy
Tesla CEO Elon Musk won’t join Twitter’s board after all
SAN FRANCISCO (AP) — Billionaire Elon Musk, one of Twitter’s biggest shareholders, is reversing course and will no longer join the company’s board of directors, less than a week after being awarded a seat. Twitter CEO Parag Agrawal announced the news, which followed a weekend of Musk tweets suggesting changes to Twitter, including making the site ad-free. Nearly 90% of Twitter’s 2021 revenue came from ads. Musk, it was revealed last week, had quickly amassed a massive stake in Twitter to become its largest individual shareholder. Agrawal didn’t offer an explanation for the reversal, but said that the decision was made by the mercurial billionaire.
Russia’s war to shrink Ukraine economy 45%, World Bank says
LONDON (AP) — The World Bank says Ukraine’s economy will shrink by 45.1% this year because of Russia’s invasion, which has shut down half of the country’s businesses, choked off imports and…
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