Susanna Palmer, Mark Feige, Musk discussed on The Big Take


Susanna Palmer in the Bloomberg newsroom. U.S. technology stocks are about to hit their next hurdle, vanishing profits when earnings season for the most influential segment of the S&P 500 Index gets underway in the coming week. Highlighting the risks ahead, Microsoft, which kicks off the group's reporting on Tuesday, joined in starting to cut thousands of jobs this week as sales slow. Google parent Alphabet has followed with plans of its own to shrink its workforce. Billionaire Elon Musk does much of his communication through Twitter, the troubled company he now owns, but on Friday Musk appeared in court on the witness stand in a trial over tweets that may have crashed the stock price of Tesla. Musk tweeted he claimed he had funding secured to take the company in private. This left many stockholders with big losses as investments were made on the information. Mark feige is a retired securities litigator. This is an unusually straightforward case. You have a couple of tweets that are as close to black and white as you can. Did he, in fact, have funding secured or not. So it's much simpler than the typical securities fraud case. Musk's testimony continues on Monday. Social media giant YouTube and its parent company Google will stand before the Supreme Court next month to defend its algorithms under a law known as section two 30. The decades old regulation gives them immunity from third party posters who violate the decency act. The lawsuit is being brought by a family of a terrorist attack victim, the family says YouTube helped promote and spread ISIS ideology. Facebook whistleblower and data engineer Francis haugen believes those algorithms aren't covered and these companies can do better. We have tools, but all these things decrease usage. You know, they make the companies a little bit less money. Now Gonzalez was killed nearly 8 years ago in a 2015 terror attack in Paris, her parents have brought the suit to the Supreme Court. The U.S. has hit its federal debt ceiling and now the Treasury Department has launched the use of special measures to keep the country from defaulting on its debts details now from Bloomberg's Amy Morris in Washington. Treasury tapped the financial resources of two government run funds for retirees in a move that will give the treasury some room to keep making federal payments until it can boost the overall level of debt. They say they'll return that money once the debt limit is increased. Treasury secretary Janet Yellen says the timeline is so uncertain she's urging lawmakers to act soon. In Washington, I Amy Morris Bloomberg radio. We mentioned at the top that a lot of technology companies are coming out with earnings in the week ahead. But it isn't just tech. There are a whole bunch to watch for, including 3M American Airlines, American Express, Comcast, General Electric Halliburton Johnson & Johnson Kimberly Clark and Lockheed Martin and that is just naming a few. Global news, 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Susanna Palmer. This is Bloomberg

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