The Week in Numbers: the cost to not buy Twitter

STORY: From the cost of not buying Twitter, to a bad start for bank earnings season, this is the Week in Numbers. First up…

$1 billion might be the cost to Elon Musk of dropping a move to buy Twitter. That’s the penalty for failing to complete the deal. Then again, Twitter is suing, and a court could order Musk to go ahead at the agreed $44 billion - now way above its current market value.

28% was the plunge in quarterly profits at JPMorgan. Boss Jamie Dimon cited risks from soaring inflation to rapidly rising rates. Add in some sad numbers from rival Morgan Stanley, and the news sent U.S. stocks skidding.

Ryan Payne is president of Payne Capital Management:

“So, this is one of the bigger concerns that we've had here as we go into earnings seasons where analysts' expectations are too high and the banks are confirming that they were too high as bank earnings have come in disappointing.”

$4 billion is how much money hedge-fund titan Bill Ackman is giving back to investors. That was how much they put into his record-breaking blank check company, or SPAC. Trouble is, Ackman says he can’t find any firm worth plowing the cash into.

$1.19 billion is the hole in the balance sheet at Celsius Network. The crypto lender filed for bankruptcy this week, making it just the latest victim of a plunge in the value of virtual currencies.

And just 0.4% was China’s annual growth rate over the latest quarter. That was the worst figure since records began in 1992, excepting the sharp plunge at the start of the health crisis, and economists bet the country now won’t meet government targets for the year. The news added to concerns about global growth.

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