Takeover

Activist groups called on Twitter advertisers Tuesday to boycott the service if it opens the gates to abusive and misinformative posts with billionaire Elon Musk as its owner.The Tesla chief's $44-billion (roughly Rs. 3,36,210 crore) deal to buy the global messaging platform must still get the backing of shareholders and regulators, but he has voiced enthusiasm for dialing back content moderation to a legal minimum and no longer banning people for using the platform to instigate real-world harm."Your brand risks…

Twitter confirmed Thursday that two senior executives are heading for the exit and it has paused most hiring, as Elon Musk stands poised to become the global messaging platform's new owner.Kayvon Beykpour, a general manager who leads research, design and engineering at Twitter, is leaving along with head of products Bruce Falck, a Twitter spokesperson told AFP.Beykpour however said he was ousted from the San Francisco-based tech company."The truth is that this isn't how and when I imagined leaving Twitter, and this wasn't…

Tesla CEO, Elon Musk, announced on Friday he has halted his $44 billion Twitter takeover. Mr Musk said he needed to resolve concerns over the number of fake or spam accounts on the platform. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5 per cent of users,” Mr Musk said in a tweet on Friday. Mr Musk’s tweet contained a link to a May 2 Reuters article on Twitter’s public filings, in which the company said…

Countries are taking more steps to compel social-media platforms to shield users from material they deem harmful through standards that could affect Twitter Inc. TWTR -0.31% as Elon Musk prepares to buy the company.Regulators from Australia to the European Union, India, Canada and the U.K. have recently introduced or are considering new rules for policing online content. They include a coming EU requirement for major platforms to conduct…

Under the proposal, subject to shareholder approval, investors in the Stockholm-based company will receive 106 Swedish krona in cash for each share held. The price represents a 39% premium to the company’s share price of 76.50 Swedish krona on Friday, the day before The Wall Street Journal reported that the companies were in talk. In the U.S.—Swedish Match’s largest market, followed by Scandinavia—the company’s ZYN nicotine-pouch brand dominates a market that includes rival offerings from Altria…

A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022. (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty Images)Joe Cavaretta | Sun Sentinel | Getty ImagesJetBlue Airways is at a nearly quarter-century crossroads.The airline's first flight took off from New York City for Fort Lauderdale in February 2000. Twenty-two years later, JetBlue executives again set their sights on South Florida with a surprise bid for Spirit Airlines.…

Tesla CEO, Elon Musk, on Thursday announced he has secured $7 billion in new funding commitments for his $44 billion Twitter takeover. Mr Musk received letters committing about $7.139 billion in equity from 18 investors, including A.M. Management & Consulting, AH Capital Management, L.L.C, Binance, Aliya Capital Partners LLC, BAMCO, Inc. (Baron), Brookfield, DFJ Growth IV, Partners, LLC, Fidelity Management & Research Company LLC, and Honeycomb Asset Management LP. Others include…

Elon Musk is expected to become Twitter's temporary CEO after closing his $44 billion (roughly Rs. 3,37,465 crore) takeover of the social-media firm, a person familiar with the matter said on Thursday, as the billionaire inches closer to securing funds for the deal.Musk, the world's richest man, is also the CEO at Tesla and heads two other ventures, The Boring Company and SpaceX.Tesla shares dropped over 8 percent on Thursday, as investors fretted that Musk's involvement with Twitter could distract him from running the…

Elon Musk has secured $7.1 billion in new financing for his takeover of Twitter — which CNBC reports will include assuming the role of “temporary CEO” — with this round of funding coming from a group of sometimes high-profile outside investors. At the top of the list is Larry Ellison, with the co-founder and current CTO of Oracle committing $1 billion to the purchase. Ellison has said that he is “very close friends” with Musk, and he was added to Tesla’s board in 2018. As one of the richest people alive — a superlative…

As Elon Musk’s crusade against Twitter Inc. escalated from a war of words to a full-on takeover, he was egged on behind the scenes by a mix of voices—from fellow billionaires to internet trolls—with their own beefs with the social-media platform.In Mr. Musk, a serial entrepreneur with a hard Twitter habit, these men found a vessel for pent-up animosity over the company’s content moderation and management. One of them had a very personal stake: Twitter’s co-founder and former Chief Executive Jack Dorsey, who resigned last…