The United Arab Emirates is developing a carbon registry that will measure companies’ progress in reducing emissions, and

Nvidia Corp. results showing that customers are binging on chips used in artificial intelligence computing sent a complex

Qualcomm Inc., the largest maker of smartphone processors, gave a tepid revenue forecast for the current period, indicating

COLUMBUS, Ind.--(BUSINESS WIRE)--May 19, 2023--

SAVE 66%: A two-year subscription to NordVPN Complete is on sale for £126.43, saving you

UK Foreign Secretary James Cleverly on Wednesday announced a 58 million pound ($73 million) aid package to boost

Projections range from zero to low single-digit growth. The evidence from early reporters so far is positive, but then there are unusual surprises—up or down.

Twitter’s new chief Linda Yaccarino has sent her first memo to employees which echoes Elon Musk’s goal for the company to be a “global town square”. “From space exploration to electric vehicles, Elon knew these industries needed transformation, so he did it,” Ms Yaccarino, who led global ad sales for NBCUniversal in her previous stint, wrote. “More recently it has become increasingly clear that the global town square needs transformation – to drive civilization forward through the unfiltered exchange of information and open dialogue about the things that matter most to us,” she added in the memo. The longtime advertising executive is expected to oversee Twitter’s ads business that has crumbled since Mr Musk took over the company in October last year. Meanwhile, the Tesla titan said he would be overseeing Twitter’s product and engineering teams. Reiterating Mr Musk’s goal of a “Twitter 2.0”, Ms Yaccarino said the company is on a mission to become “the world’s most accurate real-time information source and a global town square for communication”. “That’s not an empty promise .... That’s our reality,” she said in the memo, which was also shared with some tweaks on her official Twitter account. “Have you ever been talking with someone particularly insightful and thought, you should have the freedom to speak your mind?.... We all should,” the new Twitter chief wrote. Ms Yaccarino told Twitter employees that they now had “the opportunity to reach across aisles, create new partnerships, celebrate new voices, and build something together that can change the world”. Since the Tesla and SpaceX chief’s takeover of Twitter, the platform’s ad revenue in the US plunged by over half. The New York Times reported last week that the social media company made $88m worth of ad sales between April and May this year – marking a 59 per cent drop from the same period last year. Within weeks of the “free speech absolutist” taking over Twitter, several key executives at the social media giant were fired, and controversial people like Donald Trump and Andrew Tate were allowed to return to the platform. Following many of his moves reflecting a change in content moderation policy on the platform, several high profile brands said they would stop advertising via Twitter. Following Mr Musk’s $44b takeover deal, Twitter’s value plunged, with the Tesla titan saying in March that the company was worth $20bn. In April, the multibillionaire said Twitter was “roughly breaking even”, adding that “almost all advertisers have come back or said they are going to come back”. Then last month, the Tesla titan said he would be stepping down as Twitter’s chief to focus on overseeing product, software and sysops as company’s chief technology officer. Ms Yaccarino, who seems to be selected based on her connections with the advertising world, would be the company’s new chief. “It’s rare to have the chance to put a new future into the hands of every person, partner, and creator on the planet. That’s exactly why I’m here – with all of you,” she wrote in the memo. Read More Elon Musk is hilariously shut down by his ‘favourite’ podcast Elon Musk refuses to pay Twitter’s Google bill, leaving site in peril Elon Musk responds to bizarre AI images of him as baby Elon Musk is hilariously shut down by his ‘favourite’ podcast Twitter is a troll’s playground — and Elon Musk wants to make life even easier for them What to know about Twitter's new CEO Linda Yaccarino

NEW YORK--(BUSINESS WIRE)--Jun 27, 2023--

Elon Musk’s X is now valued at about $19bn or less than half of what he paid to buy the social media company, according to a new report. The multibillionaire Tesla and SpaceX chief last year finally bought the microblogging platform that was formerly called Twitter for the price of $44bn or $54.20 per share. Mr Musk’s purchase was completed after a months-long legal battle with the company. A new internal valuation has now found there to have been a 56 per cent decrease in the company’s value over the last 12 months, suggested internal documents. Stock grants handed out to employees showed X/Twitter is now worth about $19bn, Fortune reported on Monday. Mr Musk earlier said he had overpaid for the social media platform that he called “an inverse start-up.” In March, he told employees in an email that they would receive stock awards based on a $20bn valuation of the firm. The valuation drop comes as several high-profile advertisers have withdrawn after the Tesla titan’s controversial takeover of the company. Mr Musk’s reign of the platform has been marred by mass layoffs, the chaotic roll out of a number of new features, including the site’s verification process, and the reinstatement of previously suspended high-profile accounts. The company was also rebranded X along with a new logo to replace the bird icon that had been there since the platform’s creation. There have also been rising concerns around X’s content moderation approach. The EU recently opened an investigation into the company as misinformation linked to the Israel-Hamas conflict began to spread on the platform. In July, Mr Musk shared that X is “still negative cash flow” with a “50 per cent drop in advertising revenue plus heavy debt load”. Banks involved in financing the multibillionaire’s deal to buy Twitter are also reportedly struggling to mitigate the impact of platform’s decline in value on their balance sheets. The Tesla and SpaceX boss, however, has remained optimistic about the future of the platform. Mr Musk claimed in an email last year that he saw a “clear, but difficult, path to a >$250B valuation” for the company. In a recent company meeting, he also reportedly expressed his belief that the rebranded X could serve as an all-purpose app with a range of features like job recruitment and dating services. “We’re rapidly transforming the company from sort of what it was, Twitter 1.0, to the everything app with an all-inclusive feature app where you can basically do anything you want on our system,” he said, according to The New York Times. The Independent has reached out to X for a comment. Read More Elon Musk slammed by Israel for offering to send Starlink to Gaza Elon Musk says X posts with misinformation are ‘ineligible for revenue share’ Twitter adds video calling – and lets strangers ring you Elon Musk was ‘almost in tears’ on Tesla earnings call, analyst claims Slack to retire its status account on Elon Musk’s X Tesla’s profits dip as Musk goes on rant about staff working from home

REDMOND, Wash.--(BUSINESS WIRE)--Jun 20, 2023--

SAN JOSE, Calif.--(BUSINESS WIRE)--Jun 14, 2023--