Elon Musk’s Tesla Sued, ‘Black Swan’ Author Calls Bitcoin Tumor, FDA Okays Most Expensive Drug & More: 5 Key Stories You May Have Missed From The Weekend – Tesla (NASDAQ:TSLA)
As the market looks forward to Federal Open Market Committee meeting, discussions over the weekend centered around the Fed decision and its implications for growth and financial markets.
Here is a summary of some of the big headlines that hit the thread this weekend:
Black Swan Author Slams Fed, Bitcoin: Nassim Taleb renewed its Bitcoin BTC/USD bashing and also criticized the Fed for keeping interest rates at extremely accommodating levels. “Zero interest for a long time, you hurt the economy, you create a bubble, create tumors like Bitcoin,” he said. He renewed his call for the apex crypto to go as low as 0.
Disney-Comcast Locks Horns Over Hulu: Streaming platform Hulu is majority owned by The Walt Disney Company HAZEwhile Comcast Corporation CMCSA has a 33% stake in the platform. Both companies have an agreement in place to transfer full ownership of Hulu to Disney in 2024.
Disney’s CEO Bob Chapek has recently expressed its intention to push forward the timeline for the acquisition of the remaining stake in Hulu. While Chapek suggested a lower price could be renegotiated, the Comcast CEO said Brian Roberts ruled out such a move.
Tesla sued for misleading FSD advertising: ONE Tesla Inc. TSLA owner has sued the company and its managing director Elon Musk for misleadingly advertising the self-driving software technology as fully functional or “just around the corner” despite knowing it did not work or was absent and made vehicles unsafe. He had reportedly paid a $5,000 premium for his 2018 Model X to get “Enhanced Autopilot,” which was sold as a precursor to the FSD software package.
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Bluebird bio receives back-to-back nods: bluebird bio inc. BLUE announced that the FDA approved its gene therapy to treat a rare, inherited neurodegenerative condition called cerebral adrenoleukodystrophy, which affects young boys ages 4 to 17. The wholesale price of the drug is set at $3 million, making it the most expensive drug to date.
Elon Musk gets a pat on the back: Tesla CEO Elon Musk received praise from Erik Schmidt, which previously served as Alphabet Inc. GOOGLE GOOG unit Googleits chairman and CEO, to provide Ukraine with SpaceX‘s Starlink terminals.
“Elon is a real hero of history,” he is said to have said, praising him for the speed of internet Starlink provided while traveling by train in Ukraine.
What else: the United States President Joe Biden signaled that he has not yet decided whether to run for office in 2024. There is an intention to run again, he said, adding that it remains to be seen if there is a firm decision to run.
President of Russia Vladimir Putin said that if Europe wants more gas, it should lift sanctions on the Nord Stream 2 pipeline. He denied Russia’s role in Europe’s current energy crisis and blamed the continent’s “green agenda” for the situation.
