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.”

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“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.

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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.

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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.

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International

Colombia to Send High-Level Delegation to Ecuador to Ease Trade Tensions

Colombia’s Ministry of Foreign Affairs confirmed on Friday that, at the instruction of President Gustavo Petro, a high-level delegation will travel to Ecuador in an effort to normalize bilateral relations, which have deteriorated following the imposition of reciprocal tariffs.

“In line with Colombia’s policy of good neighborliness and the spirit of cooperation and integration that guides its foreign policy,” the Foreign Ministry said in a statement, adding that the delegation will be led by Foreign Minister Rosa Villavicencio and Defense Minister Pedro Sánchez.

“Following instructions from the Presidency of the Republic, and as has been publicly reiterated, the Colombian delegation expects to reaffirm Colombia’s offer of support to the Republic of Ecuador to strengthen control over phenomena stemming from transnational organized crime,” the statement said.

The Foreign Ministry noted that the delegation will attend the meeting with a full willingness to engage in dialogue and to seek concrete solutions to the unilateral measures that have affected the longstanding relationship between the two neighboring countries.

Trade tensions between Ecuador and Colombia escalated on January 21, when Ecuadorian President Daniel Noboaimposed a 30% tariff on Colombian products, citing a lack of cooperation in anti-drug efforts. Colombia responded with similar measures and the suspension of energy exports, while Ecuador increased transportation costs for Colombian crude oil.

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Business associations in both countries have warned that the dispute is harming both economies and have called on the governments to resolve their differences through dialogue.

International

Super Bowl Halftime Show Puts Bad Bunny—and Immigration Politics—Back in the Spotlight

The long-standing argument that sports and politics should not mix may be put to the test on Sunday during the Super Bowl halftime show, which will be headlined by Puerto Rican superstar Bad Bunny, a choice that has sparked backlash from segments of the U.S. right wing.

Just one week after his headline-making appearance at the Grammy Awards—where he sharply criticized the United States’ anti-immigration policies—Bad Bunny will once again take center stage on the global spotlight with his performance at the NFL final in Santa Clara, California.

Beyond the expectations surrounding the show itself, speculation has grown over whether the artist could again use the platform to protest policies associated with the administration of former President Donald Trump, in front of an audience expected to exceed 120 million viewers in the United States alone.

In fact, one of the most popular Super Bowl prop bets this year revolves around whether the Puerto Rican singer will deliver a direct message against ICE (U.S. Immigration and Customs Enforcement), similar to the one he delivered at the Grammys last Sunday.

While few expect Bad Bunny to repeat such a pointed statement, the mere speculation highlights the delicate balance the NFL must manage during the most-watched broadcast of the year.

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The world’s most powerful sports league has drawn criticism from the MAGA movement since announcing in September that Bad Bunny would headline a halftime show largely performed in Spanish.

Trump himself declined to attend the matchup between the New England Patriots and the Seattle Seahawks, despite having made history last year as the first sitting U.S. president to attend a Super Bowl. He described the musical lineup—which also includes outspoken critics such as Green Day—as “a terrible choice” that would “sow hatred.” In response, his supporters have organized an alternative event dubbed the “All-American Halftime Show,” featuring like-minded artists such as Kid Rock.

International

Venezuela Debates Broad Amnesty Law Covering 27 Years of Chavismo

Venezuela’s Parliament began debating on Thursday a sweeping amnesty bill that would cover the 27 years of Chavismo in power, while explicitly excluding serious human rights violations and crimes against humanity.

The proposed legislation, titled the “Amnesty Law for Democratic Coexistence,” was introduced by interim President Delcy Rodríguez, who assumed power following the capture of Nicolás Maduro during a U.S. military operation.

The legislative session was convened for Thursday afternoon, with lawmakers holding an initial discussion focused on the general principles of the bill. This phase precedes a consultation process with civil society, after which the proposal will move to a final debate examining each article individually.

According to a draft of the bill obtained by AFP, the amnesty would apply to individuals accused of crimes such as “treason,” “terrorism,” and “incitement to hatred,” charges that were frequently brought against political prisoners over the past decades. The scope also includes offenses ranging from acts of rebellion to punishments imposed for social media posts or messages sent through private messaging services.

The bill’s explanatory text emphasizes reconciliation, stating that it seeks to move away from “vengeance, retaliation, and hatred” in favor of “opening a path toward reconciliation.”

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However, the proposal explicitly excludes from its benefits crimes such as “serious human rights violations, crimes against humanity, war crimes, intentional homicide, corruption, and drug trafficking.”

These exclusions, the text notes, are based on strict compliance with the Venezuelan Constitution, which already prohibits granting amnesties or pardons for such offenses.