During a video conference at the World Government Summit in Dubai, Elon Musk said that he's looking to "find someone else" to lead Twitter by the end of 2023. Between now and then, he said his goal is to "stabilize the organization" and make sure "it's financially in a healthy place."
Musk hinted in December that he would step down eventually but didn't provide specifics.
EU GAS-POWERED CAR BAN
The European Union has approved a law that will ban the sale of gas-powered vehicles from the trading bloc by 2035. In addition, the EU will require cars sold by 2030 to cut emissions by 55 percent from 2021 levels. While some automakers are resisting the rule, others are being proactive. Volkswagen said it will only produce EVs in Europe by 2033.
SUBWAY EXPLORES SALE
After weeks of speculation, Subway has confirmed that it is considering a sale. The Wall Street Journal reported last month that it had hired advisors to look into a deal that could value the company at more than $10 billion. However, "there is no indication of timing or assurance that a sale will occur," the company said in a press release. "J.P. Morgan is advising the company and will conduct the sale exploration process." Subway has more than 37,000 restaurants in more than 100 countries. Same-store sales in North America were up 7.8 percent in 2022.
Matt Orton, Chief Market Strategist at Carillon Tower Advisers, talks about the near-term risks to the market as Fed monetary policy accelerates and highlights areas of the tech sector that may be under-valued.
John Petrides, Portfolio Manager at Tocqueville Asset Management, provides insight on the strength of the Financial sector and highlights opportunities companies have to boost the labor market.
Darren Schuringa, Founder and CEO of ASYMmetric ETFs, talks about the ripple effect inflation has on the market and highlights the areas of tech with growth potential.
U.S. markets opened higher despite red-hot inflation data which showed the highest surge in nearly 40 years. Jon Maier, CIO, GlobalX ETFs joined Cheddar's Opening Bell to discuss this historic report.
Former wide receiver for the New York Giants, Victor Cruz has partnered with Krystal Restaurants, a popular burger chain in the South, to bring the franchise to his home state of New Jersey. Cruz and Alice Crowder, CMO of Krystal Restaurants, joined Cheddar's Opening Bell to discuss the venture. The five new locations will be known as "Victor Cruz's Krystal," decked out with memorabilia from his football career, with the former player explaining how "hands-on" he plans on being. "You never know, OK? You might walk in and Victor Cruz will be flipping a burger back there, and you might be getting it directly from the source," he said.
Max Bichsel, vice president at Gambling.com Group joins Cheddar News to talk about the growing sports betting industry, New York legalizing mobile betting, and 2022 predictions for the sector.
Meta's request to have a Federal Trade Commission antitrust lawsuit dismissed was rejected by a federal judge. Prosecutors presented enough evidence in their latest filing to go forward with the case accusing the tech giant of operating a social networking monopoly through Facebook, Instagram, and WhatsApp.
