FT News Briefing Who will back Elon Musk?
Apr 20, 2022
Elon Musk's $43 billion bid for Twitter faces skepticism from private equity firms, raising questions about its feasibility. Meanwhile, Netflix experiences its first subscriber loss in a decade, highlighting shifting viewer habits. The IMF has downgraded global growth forecasts due to the impacts of the Ukraine conflict, which also leads to a surge of refugees heading to Israel. Amid these challenges, Israel grapples with accommodating both Jewish immigrants and non-Jewish refugees, revealing complexities in support systems.
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Musk's Twitter Bid Challenges
- Elon Musk needs financial backers for his Twitter bid, but private equity firms are hesitant.
- Twitter's profitability is a concern, making it a risky investment.
Netflix Subscriber Loss
- Netflix lost 200,000 subscribers in Q1 2023 and expects to lose 2 million more in Q2.
- The company attributes these losses to market saturation and competition.
IMF Lowers Global Growth Forecast
- The IMF lowered its global growth forecast to 3.6% due to the war in Ukraine.
- The war has increased energy and food prices, impacting growth and raising inflation concerns.