International

Elon Musk takes stand in Tesla tweet fraud trial

Photo: Reuters

January 23 | By AFP | Glenn Chapman |

Tesla CEO Elon Musk took the stand in a California fraud trial on Friday, accused of lying in tweets about taking the auto company private, punishing investors.

Musk was called to testify by lawyers for angry investors who accuse him of costing them millions of dollars in 2018 with untrue tweets about having funding secured to buy out shareholders at $420 a share.

The multi-billionaire’s tweets sent the Tesla share price on a rollercoaster ride and Musk was sued by shareholders who say the tycoon acted recklessly in an effort to squeeze investors who had bet against the company.

Musk, who bought Twitter itself in October, downplayed the power of his tweets noting under questioning that he once posted that he thought Tesla share price was too high, and “it went higher, which is counter-intuitive.”

20260224_estafa_mh_728x90

“What I’m trying to say is that the causal relationship is clearly not there simply because of a tweet,” Musk said in a testimony that lasted only thirty minutes and was to be continued on Monday.

The hearing on Friday began with Harvard law and business professor Guhan Subramanian, who was called as an expert witness by the plaintiffs.

He called Musk’s tweeted proposal to take Tesla private as “illusory” and “just wrong” in how it deviated wildly from the way such mega-deals usually take place.

“All I can say is this is just wrong; as a matter of deal process… this isn’t correct,” Subramanian said while being questioned by a defense lawyer about Musk’s tweets.

‘Reckless’ words

Testimonies in the trial opened Wednesday with a lawyer for the upset investors telling jurors Musk lied about having funding in place.

20260224_estafa_mh_728x90

Nicholas Porritt, who represents lead plaintiff Glen Littleton and other Tesla investors, said the tweets cost “regular people” to lose “millions and millions of dollars.”

Called as the first witness, 71-year-old Littleton told jurors he was heavily invested in Tesla in 2018 in a way that banked on the share price climbing to $500 or more.

Littleton testified that he was “pretty shocked” by Musk’s tweet about taking the company private at $420 a share because it threatened almost all the money he had invested in Tesla.

“It was going to pretty much wipe me out,” Littleton said.

Littleton told jurors he scrambled to save what he could of his investments, getting out of most of his positions at a huge loss.

20260224_estafa_mh_728x90

Musk is expected to continue testifying at trial on Monday, when his lawyers will get a chance to refute the accusation that he was being deceitful.

The case revolves around a pair of tweets in which Musk said “funding secured” for a project to buy out the publicly traded electric automaker, then in a second tweet added that “investor support is confirmed.”

Porritt told jurors that Musk had selected the $420 share price in the tweet “as a joke” and that the funding to take Tesla private was never locked in, nor credibly pursued.

In his own opening remarks, Musk attorney Alex Spiro said that even though the tweets may have been a “reckless choice of words”, they were “not fraud, not even close.”

The fraud trial is expected to last three weeks.

20260224_estafa_mh_728x90

International

Two Police Officers Shot During Road Clearance Operation in Eastern Bolivia

At least two police officers were wounded by gunfire on Saturday during an operation to clear roadblocks in Bolivia’s eastern Santa Cruz region, which has remained partially cut off for 24 days amid protests demanding the resignation of President Rodrigo Paz.

The joint operation involving the Police and the Armed Forces began at 6:00 a.m. local time near the town of San Julián, approximately 117 kilometers northeast of Santa Cruz city. The effort focused on reopening an alternative highway linking the region with Beni and western Bolivia.

According to Santa Cruz Police Commander David Gómez, protesters initially responded aggressively to the security operation.

“Local groups organized themselves and began attacking us brutally with firecrackers, stones, and other objects,” Gómez told reporters. “We used chemical agents in an attempt to disperse the crowd, which was behaving aggressively.”

Authorities initially succeeded in reopening the roadway, allowing vehicles to pass through. However, protesters later regrouped and engaged in renewed clashes with police forces that lasted for more than four hours.

During the confrontation, gunshots were heard, forcing both police and military personnel to withdraw from the area.

Gómez reported that one officer suffered a gunshot wound to the head, while another was struck in the right thigh. Both officers were evacuated for medical treatment.

The police commander stated that demonstrators not only carried out physical attacks against officers but also used firearms during the confrontation, prompting authorities to order a tactical retreat.

The incident marks a significant escalation in tensions surrounding the ongoing protests in Santa Cruz, where demonstrators have maintained roadblocks for more than three weeks as part of their campaign against the government.

International

U.S. to invest $700 million in coal plants and mines under Trump initiative

U.S. President Donald Trump announced on Thursday a $700 million funding package aimed at supporting the American coal industry, marking the latest step in his administration’s efforts to boost the use of the fossil fuel.

According to Trump, the funding will be used to keep 14 coal-fired power plants operating across ten states, maintain 42 coal mines, and support the construction of two new power plants and an export terminal.

The president said the initiative will be financed through the Defense Production Act, a law enacted in 1950 that grants emergency powers to the president to support and direct domestic industries considered critical to national interests.

Since returning to the White House last year, Trump has pursued policies designed to expand domestic energy production and roll back a number of environmental regulations. He has also repeatedly questioned the scientific consensus regarding human-caused climate change.

Coal remains the most carbon-intensive fossil fuel and is the largest source of greenhouse gas emissions among major energy sources, making it a central focus of debates over climate policy and energy security.

U.S. Energy Secretary Chris Wright defended the initiative, describing coal as a critical resource for both electricity generation and industrial production.

The announcement comes as global energy markets continue to evolve. According to an analysis by the Global Energy Monitor, the world added and commissioned more coal-fired power capacity in 2025, although overall coal consumption declined. The report also found that the United States was the only major economy to record a significant increase in coal-fired power generation during that period.

The new funding package underscores the administration’s commitment to supporting traditional energy industries while debate continues over the balance between energy security, economic growth and environmental objectives.

International

Four decapitated bodies found in abandoned vehicle near Guerrero state Congress

Police in Mexico have found four decapitated bodies inside an abandoned vehicle parked near the state Congress building in Guerrero, authorities confirmed on Thursday.

The southern state of Guerrero, home to the resort city of Acapulco, has long been affected by violent clashes between criminal organizations competing for control of drug trafficking routes.

According to prosecutors cited by AFP, the bodies were wrapped in black plastic bags and left inside a car parked at one of the rear entrances of the legislative building in the state capital, Chilpancingo.

Authorities say the region has seen intensified conflict between rival drug trafficking groups, including the Sierra Cartel and Los Ardillos, a criminal organization that Indigenous communities have accused of carrying out attacks in the mountainous, impoverished areas of the state.

The ongoing violence highlights the persistent security crisis in Guerrero, where organized crime continues to exert significant influence over large parts of the territory.