- China stocks soar on stimulus, Europe slides on automaker woes
- German antitrust watchdog steps up monitoring of Microsoft
- Nepal's urban poor count cost of 'nightmare' floods
- E.Guinea, Gabon clash at ICJ over oil-rich islands
- New blow for UK's Starmer as growth data disappoints
- China's top banks to tweak mortgage rates to boost housing market
- Muslim women break taboos navigating east London's waterways
- Nepal dam-building spree powers electric vehicle boom
- More than 60 dead from storm Helene as rescue, cleanup efforts grow
- Dozens missing, 9 dead in migrant boat wreck off Spanish Canaries
- Death toll from Hurricane John hits eight in Mexico
- Storm Helene's toll rises as rescue and cleanup efforts gain pace
- SpaceX launches mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding as cleanup begins
- SpaceX set to launch mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding
- Boeing strike grinds on as latest talks fail to reach agreement
- Iran 'news' sites, hackers target Trump ahead of US election
- US ports brace for potential dockworkers strike
- Japan's speedy, spotless Shinkansen bullet trains turn 60
- US hurricane deaths rise to 44, fears of more 'catastrophic' flooding
- Global stocks mostly rise, cheering Beijing stimulus
- Europe en route for Moon with new simulator, says astronaut Pesquet
- Fireworks forecast if comet survives risky Sun flypast
- Argentina judge orders dictionary to delete pejorative definition of 'Jewish'
- Global stocks rise on rate hopes, Beijing stimulus
- S.African woman turns 118, among the oldest in the world
- UK clears $4 bn AI partnership between Amazon, Anthropic
- Barca fans barred from Champions League away game over racist banner
- Chinese stocks extend surge, Europe higher on Beijing stimulus
- Pope says Church must 'seek forgiveness' for child sexual abuse
- China caps week of 'bazooka' stimulus for ailing economy with rate cut
- Cuts, cash, credit: China bids to jumpstart flagging economy
- France's debt weighs heavier ahead of budget debate
- Iran treads carefully, backing Hezbollah while avoiding war
- Return to sender: waste stranded at sea stirs toxic dispute
- 'Broken' news industry faces uncertain future
- On remote Greek island, migratory birds offer climate clues
- Taken from mother by nuns, victim seeks answers as pope visits Belgium
- China cuts amount banks hold in reserve to boost lending
- Hong Kong, Shanghai extend surge as China optimism boosts markets
- Vietnam president reiterates support for Cuba during official visit
- Drought reduces Amazon River in Colombia by as much as 90%: report
- Stay or go? Pacific Islanders face climate's grim choice
- Florida bracing for 'unsurvivable' Hurricane Helene
- Poverty rises to over 52 percent in Milei's Argentina
- Chloe's see-through look may not be for Kamala Harris
- Champagne houses abuzz over English sparkling wine
- Macron, Trudeau pledge to work for 'decarbonized' economies
- Hurricanes, storms, typhoons... Is September wetter than usual?
Elon Musk buys large stake in Twitter, sending stock soaring
Elon Musk has taken a major stake in Twitter, regulatory filings showed Monday, sending the social media network's stock soaring and igniting speculation he could seek an active role in its operations.
Musk, the world's richest man and CEO of electric vehicle company Tesla, is a frequent Twitter user who often posts controversial messages and announcements, and has long been critical of social media companies.
In one recent post he questioned Twitter's adherence to free speech and hinted at launching his own platform.
According to a document filed with the US Securities and Exchange Commission (SEC), the South African-born billionaire acquired nearly 73.5 million Twitter shares -- a 9.2 percent stake in the company.
Based on Friday's closing price of the company's stock, his investment amounts to nearly $2.9 billion.
Investors responded quickly. At 7.15 am in New York (1115 GMT) Twitter's stock was trading at about $49, up by around 26 percent.
"We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter," analysts Daniel Ives and John Katsingris of Wedbush wrote in a note.
Musk launched a poll on Twitter on March 25, saying "free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?"
More than two million people voted in the poll, with over 70 percent saying "no."
"Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?" he continued the next day.
"Is a new platform needed?"
"Just buy twitter," was one of the first responses from tens of thousands of users.
- Musk, Twitter and controversy -
Musk has wielded Twitter polls to conduct business before: in November last year he offloaded $5 billion in Tesla shares days after asking fellow social media users if he should sell 10 percent of his stake.
In summer 2018 Musk published a tweet where he claimed that he had the appropriate funding to take Tesla private, without providing proof.
The tweet caused a brief spike in Tesla's share price but the SEC said the statements on Twitter were "false and misleading."
The mogul then agreed that any tweets capable of moving Tesla's share price would be screened by lawyers, as part of a deal that saw him pay $20 million to settle a fraud case brought by the SEC.
Then in early March, Musk asked a New York judge to overturn the agreement with the stock market watchdog on his tweets.
His lawyer said the dispute with the SEC was "yet another attempt to harass Tesla and silence Mr Musk."
Musk has also used Twitter to court controversy away from the business world: in March he challenged Russian President Vladimir Putin to a fight, with the fate of Ukraine at stake; and in February he drew condemnation for a tweet comparing Canadian leader Justin Trudeau to Adolf Hitler.
M.García--CPN