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Elon Musk Alleges Twitter Fraud in Countersuit Filed in Delaware

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Elon Musk accused Twitter of fraud, saying the corporate misrepresented the situation of its enterprise and key metrics concerning the customers on its platform earlier than he agreed in April to acquire the company for $44 billion.

Mr. Musk stated in a countersuit made public Thursday that he determined to terminate the merger settlement after studying of what he described as troubling details, together with a restatement of Twitter’s monetizable day by day common customers days after the pact was signed and that Twitter was allegedly miscounting the variety of false and spam accounts.

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Data Show Gender Pay Gap Opens Early

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Broad new knowledge on wages earned by school graduates who acquired federal scholar support confirmed a pay hole rising between women and men quickly after they joined the workforce, even amongst these receiving the identical diploma from the identical college.

The info, which cowl about 1.7 million graduates, confirmed that median pay for males exceeded that for ladies three years after commencement in almost 75% of roughly 11,300 undergraduate and graduate diploma applications at some 2,000 universities. In nearly half of the applications, male graduates’ median earnings topped ladies’s by 10% or extra, a Wall Avenue Journal evaluation of knowledge from 2015 and 2016 graduates confirmed.

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Deliveries of Boeing’s 787 Dreamliner Set to Resume in Coming Days

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American Airways Group stated it expects to take its first supply of a Boeing 787 Dreamliner as quickly as Wednesday, its first after a protracted pause in deliveries of the jet that has created complications for airways and the producer.

Aviation security regulators stated earlier Monday that Boeing had made adjustments it wanted to satisfy certification requirements and that deliveries could resume within the coming days.

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Poor Demand for Its Covid Vaccine Prompts Novavax to Cut Sales Forecast

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Novavax Inc. slashed its full-year income outlook in half on Monday, citing an absence of demand for its Covid-19 vaccine from a world initiative to vaccinate lower-income international locations and delays in profitable expanded authorizations within the U.S.

Novavax mentioned Monday it now expects 2022 gross sales between $2 billion and $2.3 billion, down from its previous forecast of $4 billion to $5 billion

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Nvidia Warns of Sales Shortfall as Gaming Revenue Drops

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Nvidia stated second-quarter gross sales would fall well short of its forecast amid a drop in gaming income in current weeks, the newest signal that the pandemic-era boom for computer chips is waning.

The Santa Clara, Calif., firm expects income of $6.7 billion for the quarter ended July 31, some 17% beneath the $8.1 billion it had forecast in Might, amid a 33% drop in gaming income to $2.04 billion.

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Senate Passes Democrats’ Climate, Healthcare and Tax Bill

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WASHINGTON—The Senate handed a invoice

spending hundreds of billions of dollars on local weather and healthcare packages whereas elevating taxes on giant, worthwhile corporations, as Democrats unified round elements of President Biden’s agenda after a yr of annoyed efforts to advance a broader bundle.

The laws, which handed the Senate 51-50 on Sunday with a tiebreaking vote by Vice President Kamala Harris, presents tax incentives for lowering carbon emissions, seeks to permit Medicare to negotiate the price of some prescription drugs, allots roughly $80 billion to the Inner Income Service and extends subsidies for medical health insurance underneath the Inexpensive Care Act.

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A 70-Year-Old Taiwanese Chip Wizard Is Driving China's Tech Ambitions

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When Asian semiconductor makers make dramatic advances, there’s typically a typical ingredient: Berkeley-educated Liang Mong Music.

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Two Chinese Cities Approve Baidu’s Unmanned Self-Driving Taxis

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SINGAPORE—China took a notable regulatory step within the discipline of driverless taxis, with two cities giving Baidu Inc. approval to function ride-hailing companies with no driver or an individual overseeing security within the automobile.

The Chinese language search-engine big, which already operates self-driving taxis, plans so as to add 5 unmanned automobiles every to the cities of Wuhan and Chongqing, it mentioned. These automobiles will run in designated areas of these cities in the course of the daytime, when there tends to be extra site visitors on the highway, the corporate mentioned. The approvals additionally enable Baidu to cost customers for the rides, it mentioned.

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Copper Miner Oz Minerals Rebuffs BHP’s $5.8 Billion Takeover Bid

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ADELAIDE, Australia—Copper mining firm Oz Minerals rejected a takeover strategy by BHP Group which is in search of to spice up its output of a steel wanted for electrical autos, wind generators and photo voltaic farms.

Adelaide-based Oz Minerals mentioned Monday it had obtained a proposal on Friday from BHP to purchase the corporate for 25 Australian {dollars} a share. That worth, equal to about $17 a share, values the corporate at virtually 8.4 billion Australian {dollars}, or roughly $5.8 billion.

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Hiring Gets Easier for Some Employers Despite Hot Job Market

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Some massive U.S. firms say hiring is getting simpler, a minimum of by slightly.

Employers in hospitality, retail, healthcare and different industries hardest hit by worker shortages over the previous two years say they’re seeing rising indicators that recruiting employees—and getting them to just accept jobs when provided—is turning into much less of a problem, whilst the overall job market stays tight.

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Antitrust Bill Targeting Big Tech in Limbo as Congress Prepares to Recess

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WASHINGTON—Congress is about to depart for its August recess quickly with out performing on a bipartisan antitrust bill focusing on the biggest U.S. know-how corporations, in a setback for supporters who had been pushing for a vote earlier than the busy fall election season.

Senate Majority Chief Chuck Schumer (D., N.Y.) plans to carry a vote on the laws when Congress returns this fall. However the shrinking variety of legislative days out there performs to the benefit of the tech corporations, which might declare victory if Congress doesn’t act.

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