power

Rani Molla1/15/25

The Securities and Exchange Commission is suing Elon Musk — again

The SEC filed a lawsuit against Tesla CEO and X owner Elon Musk alleging he failed to promptly report that he’d amassed a more than 5% stake in what was then Twitter in early 2022 ahead of taking over the company. His delay, the SEC said, caused Twitter investors to lose more than $150 million, since news of his growing ownership would have driven up the stock.

This isn’t the first time Musk — who has said, “I do not respect the SEC” — has ended up in the government agency’s crosshairs over his actions in relation to a takeover bid. In 2018, the SEC charged Musk with fraud over a tweet claiming he had “funding secured” to take Tesla private at $420 per share. As part of the settlement, Musk was forced to step down as the car company’s chairman of the board, personally pay $20 million in fines, and have a securities lawyer look over potentially market-moving tweets — an order the SEC has argued hasn’t consistently been followed.

Musk Accused by SEC of Cheating Twitter Investors Out of Millions

Musk Accused by SEC of Cheating Twitter Investors Out of Millions

This isn’t the first time Musk — who has said, “I do not respect the SEC” — has ended up in the government agency’s crosshairs over his actions in relation to a takeover bid. In 2018, the SEC charged Musk with fraud over a tweet claiming he had “funding secured” to take Tesla private at $420 per share. As part of the settlement, Musk was forced to step down as the car company’s chairman of the board, personally pay $20 million in fines, and have a securities lawyer look over potentially market-moving tweets — an order the SEC has argued hasn’t consistently been followed.

More Power

Traders are getting more and more pessimistic about the government shutdown ending any time soon

The market expects the shutdown to last well into November.

The Capitol Building in Washington DC

OpenAI’s internal Slack messages could cost it billions in copyright suit

Authors and publishers suing OpenAI over copyright infringement were granted access to internal OpenAI communications about the deletion of a pirated books dataset, and now want to review attorney communications.

Frightened Man

US corporate spending on private flights for executives has ballooned in recent years

The median expense spent by America’s largest companies on air travel jumped 66% from 2020 to 2024.

1990s Business man private jet

power

Claire Yubin Oh10/1/25

OK, so when was the longest shutdown in US history?

The US government officially shut down at 12:01 a.m. on Wednesday after senators failed to agree on a last-minute funding bill. Though initially shrugging off the threat of a shutdown during yesterday’s session, stocks were mildly in the red on Wednesday as investors reacted to what is now the 11th shutdown in the government’s history.

Until this latest shutdown, there had been 20 government funding gaps experienced since 1976 — though not all ended in a full shutdown, with full closure averted in half of those cases.

Indeed, prior to the 1980s, funding gaps didn’t typically have major effects on government operations, with agencies continuing to operate on the basis that the funding would come eventually. However, a more stringent interpretation of the rules led to a stricter appropriations process from the early 1980s onward, with many subsequent funding gaps resulting in a shutdown of affected agencies (unless the gaps were quickly fixed or occurred over a weekend).

Obviously, the duration of the latest shutdown is still unclear, but it will continue until Congress passes a funding bill — most likely via a “continuing resolution,” which has ended every shutdown since 1990. Data analyzed by USAFacts suggest that it might not be a one- or two-day affair, as funding gaps have lengthened in recent years.

Government shutdown patterns — Sherwood News

Indeed, the last shutdown, which began in December 2018, ended up becoming the longest in history, at a whopping 34 days. By the time the government reopened in January 2019, about $3 billion (in 2019 dollars) had been wiped from the GDP in Q4, per data from the Congressional Budget Office, with approximately $18 billion in “federal discretionary spending” delayed over the roughly five-week stretch.

power

Max Knoblauch9/24/25

GM climbs following upgrade, report that Trump administration seeks stake in its lithium mine partner

Shares of General Motors rose more than 2% in premarket trading Wednesday following an upgrade of the stock by UBS from “neutral” to “buy.” The firm also hiked its price target for GM by 45% to $81.

Also likely elevating GM was a Reuters report that the Trump administration is exploring taking a 10% stake in Lithium Americas, the automaker’s partner in a yet to open Thacker Pass lithium mine. Shares of Lithium Americas surged 68% in the premarket.

GM, which invested $625 million into the lithium mine last year, holds a 38% stake in the joint venture. The mine is expected to become the Western Hemisphere’s primary lithium source in 2028, when it’s slated to open, producing enough of the metal to make 800,000 electric vehicle batteries.

Prior to its plans for Lithium Americas, the Trump administration last month said it would take a 10% stake in Intel. In July, it announced a 15% stake in rare earths miner MP Materials.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.

©2025 Sherwood Media, LLC