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

Mexican Navy Ships Deliver Third Shipment of Humanitarian Aid to Cuba

Two logistics support vessels from the Mexican Navy — the ARM Papaloapan and the ARM Huasteco — docked again on Friday in the bay of Havana carrying a third shipment of humanitarian aid for Cuba.

The vessels had previously arrived on the Caribbean island on February 28 with a second cargo that included 1,200 tons of food, sent to help alleviate the country’s ongoing crisis, which has worsened following the U.S. oil restrictions affecting fuel supplies to the island.

Cuba’s deputy foreign minister Josefina Vidal confirmed the new shipment in a social media post.

“Two ships carrying a third shipment of aid from the Government and the people of Mexico for the Cuban people are now arriving at the port of Havana. Thank you Mexico for your solidarity with Cuba,” she wrote.

Previous aid shipments

During the second shipment, the Papaloapan transported 1,078 tons of beans and powdered milk, while the Huastecocarried 92 tons of beans and 23 tons of assorted food products collected by social organizations with support from the government of Mexico City.

20260224_estafa_mh_728x90

In recent months, Mexico has become the largest provider of humanitarian aid to Cuba, sending around 2,000 tons of supplies, mostly staple foods and hygiene products, in the two shipments prior to Friday’s delivery.

The first shipment alone included 814 tons of food.

Cuba praises Mexico’s support

Hours before the ships arrived, Cuban President Miguel Díaz-Canel highlighted Mexico’s support during a televised appearance, describing the country as “a friendly and brotherly nation that has shown tremendous solidarity,”particularly praising Mexican President Claudia Sheinbaum.

Díaz-Canel also addressed reports suggesting that Mexican donations were being resold in state-run stores, dismissing them as a “disinformation campaign” promoted by right-wing groups.

20260224_estafa_mh_728x90

International

Ecuador Declares 60-Day National Emergency After Deadly Floods and Landslides

Ecuador has declared a 60-day national emergency to address the impact of a severe rainy season that has left 11 people dead and more than 50,000 affected since January, the government’s disaster management authority announced Friday.

Prolonged heavy rains accompanied by thunderstorms have caused river overflows and landslides, mainly in the coastal provinces of Guayas, El Oro, Esmeraldas, Los Ríos, Manabí and Santa Elena, as well as in the Andean provinces of Lojaand Chimborazo.

According to the Secretariat for Risk Management of Ecuador, the emergency declaration was issued “due to the level of impact caused nationwide on the population, the road network, infrastructure, and livelihoods.”

“The emergency declaration is aimed at responding to the effects and negative impacts and preventing their further spread,” the agency said in a statement.

International

Trump Pushes for Regime Change in Cuba as Havana Confirms Talks With Washington

U.S. President Donald Trump has made no secret of his desire for political change in Cuba, located just 150 kilometers from the United States. Washington considers the island an “exceptional threat,” citing its close ties with Russia, Chinaand Iran, longtime allies of Havana.

Trump has urged Cuba to “reach a deal” with Washington or face consequences, as the island struggles with a severe energy crisis that has nearly paralyzed its economy after the United States cut oil shipments from Venezuela, its main fuel supplier. The U.S. has also warned other countries against selling fuel to Havana.

Cuban President Miguel Díaz-Canel confirmed that Cuban officials have recently held talks with representatives of the U.S. government. The statement came during a meeting with senior members of the ruling Communist Party of Cuba and the executive committee of the Council of Ministers, according to footage broadcast on Cuban television.

“These conversations have been aimed at seeking solutions through dialogue to the bilateral differences that exist between our two nations,” Díaz-Canel said.

Reports of intermediaries and possible negotiations

According to television images, among those attending the meeting was Raúl Guillermo Rodríguez Castro, grandson of former Cuban leader Raúl Castro. Although he holds no official government position, U.S. media have identified him as a possible interlocutor with U.S. Secretary of State Marco Rubio in what have been described as secret discussions between Washington and Havana.

20260224_estafa_mh_728x90

For some Cubans, any potential agreement with Washington is viewed pragmatically. “As long as it benefits us, we can reach an agreement — but on our terms,” said Sergio Guerra, a 55-year-old agricultural vendor, speaking to AFP.

Díaz-Canel’s remarks confirm earlier statements by Trump, who indicated in January that his administration had already begun contacts with senior Cuban officials.

Mexico calls for diplomacy

Meanwhile, Mexico welcomed the possibility of dialogue after recently sending more than 2,000 tons of humanitarian aid to Cuba to help mitigate the crisis.

Mexican President Claudia Sheinbaum said her country would always promote peace and diplomatic dialogue, particularly in response to what she described as the long-standing injustice of the U.S. embargo on the Cuban people.