Business Highlights: Musk and Twitter, Ukraine’s economy

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Tesla CEO Elon Musk won’t join Twitter’s board after all

SAN FRANCISCO (AP) — Billionaire Elon Musk, one of Twitter’s biggest shareholders, is reversing course and will no longer join the company’s board of directors, less than a week after being awarded a seat. Twitter CEO Parag Agrawal announced the news, which followed a weekend of Musk tweets suggesting changes to Twitter, including making the site ad-free. Nearly 90% of Twitter’s 2021 revenue came from ads. Musk, it was revealed last week, had quickly amassed a massive stake in Twitter to become its largest individual shareholder. Agrawal didn’t offer an explanation for the reversal, but said that the decision was made by the mercurial billionaire.

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Russia’s war to shrink Ukraine economy 45%, World Bank says

LONDON (AP) — The World Bank says Ukraine’s economy will shrink by 45.1% this year because of Russia’s invasion, which has shut down half of the country’s businesses,…

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