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Elon Musk takes stand in Twitter shareholder trial accusing him of deflating stock before purchase

Elon Musk takes stand in Twitter shareholder trial accusing him of deflating stock before purchase

By BARBARA ORTUTAY and MICHAEL LIEDTKE

SAN FRANCISCO (AP) — Elon Musk took the stand in a shareholder trial on Wednesday in San Francisco, where he’s accused of making false and misleading statements that drove down Twitter’s stock price before he bought the social media platform for $44 billion in 2022.

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The lawsuit was filed in October 2022 in the U.S. District Court for the Northern District of California on behalf of Twitter shareholders who sold the stock between May 13 and Oct. 4, 2022, a few weeks before Musk’s purchase of Twitter was finalized. It claims Musk violated federal securities laws by making false, public statements that “were carefully calculated to drive down the price of Twitter stock.” read more

Apple’s ‘big week’ launches a pair of $599 devices aimed at budget buyers

Apple’s ‘big week’ launches a pair of $599 devices aimed at budget buyers

By SHAWN CHEN, AP Technology Writer

NEW YORK (AP) — Apple CEO Tim Cook promised a “big week” of product announcements including the introduction of a new budget-friendly iPhone 17e, a new entry-level MacBook Neo, updated iPad Air models, refreshed monitors and higher-end chipsets. They were all on display at hands-on media events held Wednesday in New York, London and Shanghai.

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The tech titan recently saw its quarterly earnings rise to a new record, thanks to strong sales of its iPhone 17 models, even though the company still hasn’t delivered on its 2024 promise to smarten up its Siri assistance with AI. read more

Orlando’s Titanic attraction launches virtual-reality ship tours

Orlando’s Titanic attraction launches virtual-reality ship tours

Landlubbers living in the 21st Century now can take a good look around the Titanic, thanks to a virtual-reality experience inside an International Drive attraction.

Titanic: The Artifact Exhibition has introduced an add-on VR activity to its walk-through display with relics and reproductions tied to the ship that famously sank in 1912.

At the I-Drive attraction, visitors wear a headset to look up, down and around at a re-creation of what passengers would have seen while on board. That can include newfangled-for-the-times tile flooring or a passing iceberg.

“It’s like a 360 view, so everywhere you look, you can see something,” says Ross Mumford, general manager of Titanic: The Artifact Exhibition. “You get to really see what we don’t have any film for because this is such a great, accurate depiction of the ship.”

The 12-minute presentation includes glimpses at the gangway doors, first-class lounge, Turkish baths, grand staircase and below deck into the third-class common area. Viewers also go up into the crow’s nest – the lookouts’ point of view – and into the lifeboats. read more

Supply chain disruptions from the Iran war could raise prices for drugs, electronics and more

Supply chain disruptions from the Iran war could raise prices for drugs, electronics and more

By MAE ANDERSON, AP Business Writer

NEW YORK (AP) — The Iran war has effectively halted oil tanker movement in the key Strait of Hormuz. But it’s also disrupting the wider global supply chain beyond oil, affecting everything from pharmaceuticals from India, semiconductors from Asia and oil-derived products like fertilizers that come from the Middle East.

Cargo ships are stuck in the Gulf or making a much longer detour around the southern tip of Africa. Planes carrying air cargo out of the Middle East are grounded. And the longer the war drags on, the more likely that there will be shortages and price increases on a wide range of goods.

“This is really causing some major impacts within the global supply chain,” said Patrick Penfield, professor of supply chain practice at Syracuse University. “As this conflict keeps progressing, you’ll start to see some shortages, you’ll see some major price increases.”

Stalled at sea

Clarksons Research, which tracks shipping data, estimates that about 3,200 ships, or about 4% of global ship tonnage, are idle inside the Persian Gulf, but that includes about 1,231 that likely only operate within the Gulf. About 500 ships, or 1% of global tonnage, are currently “waiting” outside the Gulf in ports off the coast of the United Arab Emirates and Oman, according to the firm. read more

How to save money: 14 easy tips

How to save money: 14 easy tips

By Karen Bennett, Bankrate.com

Saving money in the current economic environment likely feels overwhelming. And the data supports how much of a struggle it is — only 46% of U.S. adults have enough emergency savings to cover three months of expenses, according to Bankrate’s Emergency Savings Report. With 24% having no emergency savings at all, finding ways to cut expenses and build savings has become essential for financial security.

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The challenge isn’t just about earning more — it’s also about saving smarter. Even small changes to your spending habits can add up to significant savings over time. Whether you’re building your first emergency fund or trying to reach a specific savings goal, these proven strategies can help you keep more money in your pocket. read more