Highlights of the day: 11 July

FinMeUp highlights of the day

FinMeUp Mentorship Month!

We want to provide our community with the opportunity to engage with our team. A financial coach in your pocket! Do you have a question that youd like to ask? Great! Well answer them all! linktr.ee/FinMeUpLinks

South Africa

Renergen

• The company has announced the successful introduction of gas to plant.
• This is a highly anticipated milestone.
• Commercial operation will commence once customer sites are ready to begin accepting products. Renergen expects this to happen towards the end of July.

U.S

Oracle

• Oracle has reportedly considered cost reductions of up to $1 billion that could result in thousands of layoffs as soon as August.

Twitter

• Elon Musk has sent a letter to Twitter, notifying them he is terminating the merger agreement.
• Twitter is taking legal action to get Elon Musk to follow through with the deal.
• "The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery." -Bret Taylor
• Twitter has hired law firm Wachtell Lipton and reportedly plans to file a lawsuit against Elon Musk early this week.

Amazon

• Amazon is reportedly considering a bid for Metro India in a deal that could value the company at up to $1.2 Billion.

Facebook

• Facebook has announced the launch of Sphere, an AI knowledge tool based on open web content, used initially to verify citations on Wikipedia.

Biggest winners and losers

JSE

• Vivo +17.14%
• Kumba -6.04%

US

• Vertex +0.61%
• Zoom -6.86%

Crypto

• Bitcoin -2.6%
• Ethereum -2.4%
• Solana -4.7%