Elon Musk Expected to Serve as Temporary Twitter CEO after Deal Closes

Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 Billion acquisition of the social media company, sources told CNBC’s, David Faber.

An SEC filing yesterday revealed Musk secured approximately $7.14 Billion in equity commitments from friends and other investors to buy Twitter. Faber said Musk handpicked the investors. Commitments range from $1 Billion from Oracle co-founder Larry Ellison to $5 Million from Honeycomb Asset Management, which invested in SpaceX. Faber added that Twitter co-founder Jack Dorsey may back it, and Musk is talking to him about the possibility of contributing shares immediately or before the closing of the merger.

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U.S. Regulators Strictly limit who can Receive Johnson & Johnson’s Covid Vaccine over "Rare but Serious" Blood Clots Risk

U.S. regulators yesterday strictly limited who can receive Johnson & Johnson’s Covid vaccine due to the ongoing risk of rare but serious blood clots.

The FDA said the shot should only be given to adults who cannot receive a different vaccine or specifically request J&J's vaccine. U.S. authorities for months have recommended that Americans get Pfizer or Moderna shots instead of J&J's vaccine.

FDA's vaccine chief Dr. Peter Marks said the agency decided to restrict the vaccine after taking another look at the data on the risks of life-threatening blood clots and concluding that they are limited to J&J's vaccine.

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Home Prices in Toronto Drop Most In Two Years On Rising Rates

New data from Toronto Regional Real Estate Board shows home prices in the metro area dropped 6.4% in April from the month before to $936,000. Bloomberg notes this "was the biggest monthly drop since April 2020, when the market was largely frozen because of Covid-19 lockdowns."

Housing demand dwindles as buyers take a step back due to rising mortgage rates. Compared with the month before, the number of houses sold in Toronto tumbled 26% in April. Vancouver home sales also slipped.

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Gucci to Accept Crypto in U.S. Stores

Gucci is launching a pilot to test the acceptance of bitcoin in five of the luxury fashion house’s U.S. stores with plans to extend the functionality to all non-franchise North American shops, according to a report from Vogue Business

Initially, the Gucci stores that will accept BTC are at Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta, and The Shops at Crystals in Las Vegas.

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