Tag: Twitter Inc.

Musk commits to attend President Erdogan’s technology festival
Technology

Musk commits to attend President Erdogan’s technology festival

[ad_1] Billionaire Elon Musk in typical fashion took to X, formerly known as Twitter, to announce his intention to attend Teknofest in Turkey next year.Turkish President Erdogan welcomed Musk's commitment. The X conversation between the two was sparked by Musk extending his congratulations to the teams competing in Teknofest. The technology festival has evolved into a prominent platform for showcasing Turkey's aerospace and technology advancements. The online interaction transpired shortly after the two men met in New York to discuss potential collaborations in artificial intelligence and the potential establishment of a Tesla factory. Erdogan Meets Musk and Asks Him to Open Tesla Factory in TurkeyTeknofest, an annual Aerospace and Technology Festival since 2018, plays host to various t...
Twitter Ceases to Be Independent Company as Elon Musk Makes Drastic Changes
Technology

Twitter Ceases to Be Independent Company as Elon Musk Makes Drastic Changes

[ad_1] Twitter Inc. has ceased to be an independent company after merging with a newly formed shell firm called X Corp., driving speculation about what Elon Musk intends for the social media platform.Twitter “no longer exists” after being merged with X Corp., according to an April 4 document submitted in a California court for a lawsuit filed against the company and its former chief executive officer, Jack Dorsey, last year by conservative activist Laura Loomer. It's unclear what the change means for Twitter, which has seen a sweeping overhaul since Musk bought the company for $44 billion last year. The billionaire owner has in the past suggested that buying Twitter would be an “accelerant” for creating X — which he dubbed an “everything app.” Musk tweeted about the move Tuesday with th...
UPDATE 1-Microsoft cuts about 1,000 jobs – Axios
Technology

UPDATE 1-Microsoft cuts about 1,000 jobs – Axios

[ad_1] Microsoft Corp laid off under 1,000 employees across several divisions this week, Axios reported. Microsoft Corp laid off under 1,000 employees across several divisions this week, Axios reported on Tuesday, citing a source, making it the latest U.S. technology company to cut jobs or slow hiring amid a global economic slowdown. The layoffs affected less than 1% of Microsoft's total workforce of around 221,000 as of June 30. "Like all companies, we evaluate our business priorities regularly and make structural adjustments accordingly. We will continue to invest in our business and hire in key growth areas in the year ahead," a Microsoft spokesperson said. The company had said in July that a small number of roles had been eliminated and that it would increase its headcount ...
Kanye’s Return to Twitter Lasts One Day as Account Is Locked
Technology

Kanye’s Return to Twitter Lasts One Day as Account Is Locked

[ad_1] Twitter Inc. has restricted and locked the account of billionaire musician and fashion designer Kanye West… Twitter Inc. has restricted and locked the account of billionaire musician and fashion designer Kanye West, just one day after he returned to the social media platform for the first time in nearly two years. A spokesperson for Twitter said Sunday the account was locked due to a violation of its policies. West, now known as Ye, started posting on the site late Friday, after he was suspended from Meta Platforms Inc.'s Instagram for a now-deleted post. West is just the latest celebrity to test how major social media companies police speech on their platforms. Both Instagram and Twitter deleted posts from West widely criticized as anti-Semitic and locked his accounts. ...
Twitter Drifts Away From Musk’s Offer as Financing Concerns Loom
Technology

Twitter Drifts Away From Musk’s Offer as Financing Concerns Loom

[ad_1] Twitter Inc. shares are set to extend losses for a third session on Friday, widening the gap between Elon Musk’s $54.20 per share offer as the deal talks are said to be stuck over a debt financing contingency. Twitter Inc. shares are set to extend losses for a third session on Friday, widening the gap between Elon Musk's $54.20 per share offer as the deal talks are said to be stuck over a debt financing contingency. Shares in the social media firm which closed Thursday at $49.39, slipped as much as 1.9% in premarket trading as concerns surrounding the transaction's funding persist. Those uncertainties have kept Twitter's stock about 10% below the offer price. The stock is set to slip for a third day after soaring on Tuesday when Musk made a surprising U-turn from his effor...
Elon Musk’s Twitter Takeover Slightly Less of a Done Deal, Shares Suggest
Technology

Elon Musk’s Twitter Takeover Slightly Less of a Done Deal, Shares Suggest

[ad_1] Stock markets are still not entirely sold on Elon Musk’s $44 billion takeover of Twitter Inc. Stock markets are still not entirely sold on Elon Musk's $44 billion takeover of Twitter Inc. after the billionaire revived the deal at its original price earlier this week. Shares in the social media firm slipped 1.2% to $50.67 in premarket trading, taking them further below Musk's offer of $54.20 a share. The stock is set to slip for a second day after soaring on Tuesday when the Tesla Inc. chief made a surprising U-turn from his effort to back out of the deal, potentially avoiding a contentious courtroom fight. While most analysts see the deal closing fairly quickly, concerns persist surrounding the funding of the transaction, keeping Twitter's stock about 6.5% below the offer ...
Elon Musk Will Sit for Deposition in Twitter Case Next Week
Technology

Elon Musk Will Sit for Deposition in Twitter Case Next Week

[ad_1] Elon Musk is scheduled to answer questions on Sept. 26 and 27 from Twitter Inc.’s lawyers on his failed $44 billion purchase of the company, according to a court filing. Elon Musk is scheduled to answer questions on Sept. 26 and 27 from Twitter Inc.'s lawyers on his failed $44 billion purchase of the company, according to a court filing. The deposition, which will take place behind closed doors at a law office in Wilmington, Delaware, may be extended into a third day if needed. Musk's attorney, Alex Spiro, will have to sit for his own deposition on Sept. 25, according to a separate filing. Spiro has argued some of the issues before the judge in this case. Musk backed away from his planned purchase of Twitter ear...
Setback For Elon Musk as Twitter Hits Back
Technology

Setback For Elon Musk as Twitter Hits Back

[ad_1] Twitter Inc. rejected a third attempt by Elon Musk to cancel his agreement to buy the social network, a day before the company’s shareholders are to vote on the $44 billion deal. Twitter Inc. rejected a third attempt by Elon Musk to cancel his agreement to buy the social network, a day before the company's shareholders are to vote on the $44 billion deal. Twitter's lawyers said in a letter Monday that the billionaire's attempt to walk away is “invalid and wrongful” and “Twitter has breached none of its representations or obligations,” according to a regulatory filing. Musk has said Twitter should have notified him before it spent $7.75 million in a separation agreement with Peiter Zatko, the company's former securit...