Twitter, its employees and its users are enduring some heavy weather
Saturday, November 5, 2022 |
Welcome to the latest edition of Weekend Briefing, which includes a look at Twitter's travails, a possible Russian retreat in Ukraine, this year's climate summit and more… |
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Elon Musk arrives at the Baron Investment Conference in Manhattan, November 4, 2022. REUTERS/Andrew Kelly |
- Where to begin: In short, Musk bought Twitter, started firing great swathes of staff, said he would charge for the blue tick, blamed unnamed activists trying to "destroy free speech" for repelling advertisers, and caused those advertisers to take a long hard think about whether they still want to spend on the social-media company.
- What will he do next? Elon, let us know. We're on all weekend.
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- What happened this week: Russia is moving civilians from occupied Kherson in Ukraine, saying their safety is at risk, and reports from the area around the Dnipro River suggest that its forces could be readying a retreat.
- What's afoot: While Moscow rejoined the Ukraine Black Sea grain deal, it now wants the West to ease restrictions on its state agriculture lender to facilitate its own grain exports. And in the Caucasus nation of Georgia, an influx of Russians emigrating since the start of the war and Vladimir Putin's mobilization has led to an economic boom.
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- The current bill: South Africa alone needs $84 billion over five years to cut carbon emissions, harness economic opportunities from energy transition and support affected communities, President Cyril Ramaphosa said. That's a lot more than the $8.5 billion that the U.S., Britain, France, Germany and the EU promised at the COP26 climate summit a year ago. And that's just one country.
- The forecast: The COP27 climate summit begins this Sunday and goes until Nov. 18. As this field guide to climate lingo notes, richer nations haven't met targets they set to help poorer nations, and talks about what they should owe and how they should go about it promise to be… interesting.
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- Latest data: U.S. job growth increased more than expected in October, but the pace is slowing and the unemployment rate rose to 3.7% while annual wages rose at their slowest pace in just over a year.
- Fed's next steps: Policymakers indicated that they would still consider a smaller interest-rate rise at their next meeting, despite Friday's numbers showing only small signs of progress in lowering inflation.
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- The run-up: President Joe Biden, and former presidents Barack Obama and Donald Trump head to Pennsylvania, hoping to tip the balance in a midterm race that could determine control of the Senate.
- Looking ahead to Tuesday: Biden is talking up his party's book, saying he plans to discuss high prices and record profits with big oil companies as the rest of us deal with high energy bills.
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Before I forget… Learn what Brittney Griner could face if she ends up in a Russian penal colony, find out what led up to the shooting of ex-Prime Minister Imran Khan in Pakistan, and see how Fed rate rises are causing pain in one Alabama town. Finally, have you checked your clocks? Congress can't decide whether to make daylight savings time permanent, so it's your turn to wind them back tonight, America. |
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