Newsletter Nov 15, 2022

3 things you must know

Biden, Xi agree to disagree on key issues in G20 meeting
Presidents Joe Biden and Xi Jinping both sought to lower the temperature between the U.S. and China during a rare summit, but few analysts expect any deeper easing of tensions. After three hours of side talks at the G20 summit in Bali, Biden said there need not be a new Cold War between the two powers and Xi told him that China was not challenging the international order. The White House said that Secretary of State Antony Blinken will go to China, the first visit by the top U.S. diplomat in over four years.
US-CHINA TALKS HIT ON TAIWAN, NORTH KOREA, UKRAINE

Amazon announces plans to lay off 10,000 workers this week
Amazon plans to lay off 10,000 people this week in what will be the company's biggest job cut to date. The e-commerce giant joins a growing list of tech companies making layoffs and hiring freezes, including Salesforce, Stripe, Meta and Uber. Amazon benefited from the pandemic, but that growth halted this year and the company slumped to a record low in the second quarter.
SEE HOW AMAZON'S STOCK REACTED TO THE LAYOFFS

Google agrees to pay $392M to settle landmark privacy case
Google agreed to pay $392 million to settle a landmark privacy case with 40 states over accusations that the search engine giant misled users into believing location tracking on their devices was turned off. Oregon Attorney General Ellen Rosenblum called it the largest multi-state privacy settlement by authorities in U.S. history and included a commitment by Google to end deceptive practices.
WHY THE CASE MAY SET A PRECEDENT FOR TECH GIANTS

You Might Like

Markets

DJIA	33,536.70	-0.63%
S&P 500	3,957.25	-0.89%
Nasdaq Composite	11,196.22	-1.12%
Japan: Nikkei 225	27,963.47	-1.06%
UK: FTSE 100	7,385.17	0.92%
Crude Oil Futures	85.35	-0.61%
Gold Futures	1,773.90	-0.17%
Yen	140.13	0.18%
Euro	1.03	-0.10%
* As of market close

Trial begins over Musk's $56B pay package

A trial to determine whether Tesla appropriately paid founder Elon Musk $56 billion in 2018 began Monday in Delaware. Richard Tornetta, a Tesla shareholder, is seeking to void Musk's 2018 compensation package, arguing that the company's board failed to disclose key information to shareholders who were misled into approving the pay. The trial is also exploring whether Musk, who owned around 22% of Tesla at the time, had undue influence on the board's decisions.

WHY MUSK IS STILL UNDER FIRE FROM TWITTER TAKEOVER

Pence's new book calls out Trump for Jan. 6

Former Vice President Mike Pence was "angered" by former President Donald Trump's words and actions during the Capitol attack on Jan. 6, 2021. Pence said Trump's words "endangered me and my family and everyone at the Capitol building" during the riot. Pence recalled a tweet from Trump claiming Pence "didn't have the courage to do what should have been done" after he refused to cave in to the former president's pressure to block the certification of Joe Biden's presidential election.

HOW PENCE'S BOOK IS DRAWING CRITICS FROM BOTH SIDES

Bezos doesn't deny interest in Commanders

Amazon founder Jeff Bezos isn't denying having an interest in buying the NFL's Washington Commanders. Bezos, who is the fourth richest person in the world, reportedly has considered putting in a bid for the NFL team and has not denied any rumors to the effect. On Nov. 2, the Commanders announced that owners Dan and Tanya Snyder are reportedly looking into selling either a minority stake or the entire team.

WHY BEZOS MAY BE READY TO JOIN THE NFL OWNERS CLUB

Name game

The Washington Commanders aren't DC's first pro sports team to get a mascot change. What was the NBA team's old and new nickname?

Monday's answer: Late comedian George Carlin served as the first guest host on the debut of "Saturday Night Live" on Oct. 11, 1975.

IBTimes will always protect your security and privacy. Please read our detailed Privacy Policy. Please do not reply to this email. Click here to adjust your notification preferences or unsubscribe.Â