ELON MUSK FACES CIVIL SECURITIES FRAUD SUIT OVER TWITTER PURCHASE AS HE EYES SPACEX IPO. (PHOTO).

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 Elon Musk faces civil securities fraud suit over Twitter purchase as he eyes SpaceX IPO  Since acquiring Twitter for roughly $44 billion in late 2022, Elon Musk has renamed the platform X, merged it with his artificial intelligence company xAI, and integrated both into his defense and space company, SpaceX. Musk’s next major move could be taking SpaceX public in what would likely be a record-setting IPO, but first, he is confronting legal challenges from his past. On Wednesday, Musk appeared in federal court in San Francisco to face allegations of civil securities fraud tied to his Twitter purchase. Investors filed a class action in October 2022, claiming Musk manipulated Twitter’s stock to pressure the board into selling at a lower price than initially promised. Musk’s legal team denies any intent to harm Twitter or its shareholders. During the hearing, Musk acknowledged that his tweets can affect stock prices, sometimes unpredictably, and described the market as “manic depr...
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AT LEAST NINE DEAD IN MADAGASCAR AS TROPICAL CYCLONE GEZANI LASHES INDIAN OCEAN ISLAND. (PHOTO).

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 At least nine dead in Madagascar as Tropical Cyclone Gezani lashes Indian Ocean island

  At least nine people have died in Madagascar after Tropical Cyclone Gezani struck the island, bringing winds exceeding 195 kph (121 mph), officials reported Wednesday. The country’s weather service issued red alerts for several regions, warning of potential floods and landslides as the cyclone moved across the island nation of 31 million people. The National Office for Risk and Disaster Management confirmed that at least nine deaths were caused by building collapses, and at least 19 others were injured.

Gezani made landfall in the eastern port city of Toamasina, which residents described as heavily damaged. Roofs were torn off, walls collapsed, power poles were downed, and trees were uprooted. President Michael Randrianirina, who came to power following a military coup in October, visited Toamasina to survey the destruction and meet with affected residents. By Wednesday, Gezani had weakened to a tropical storm with winds around 110 kph (68 mph) and was moving from east to west, passing about 100 kilometers (62 miles) north of the capital, Antananarivo, which remains under red alert. The cyclone comes less than two weeks after Tropical Cyclone Fytia killed 14 people in Madagascar.

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