Elon Musk says Twitter is still losing cash because advertising has dropped by half. In a reply to a tweet offering business advice, Mr Musk tweeted Saturday: “We’re still negative cash flow, due to (about a) 50 per cent drop in advertising revenue plus heavy debt load.” “Need to reach positive cash flow before we have the luxury of anything else,” he concluded. Ever since he took over Twitter in a $44bn deal last fall, Mr Musk has tried to reassure advertisers who were concerned about the ouster of top executives, widespread layoffs and a different approach to content moderation. Some high-profile users who had been banned were allowed back on the site. In April, Mr Musk said most of the advertisers who left had returned and that the company might become cash-flow positive in the second quarter. In May, he hired a new CEO, Linda Yaccarino, an NBCUniversal executive with deep ties to the advertising industry. But since then, Twitter has upset some users by imposing new limits on how many tweets they can view in a day, and some users complained that they were locked out of the site. Mr Musk said the restrictions were needed to prevent unauthorized scraping of potentially valuable data. Twitter got a new competitor this month when Facebook owner Meta launched a text-focused app, Threads, and gained tens of millions of sign-ups in a few days. Twitter responded by threatening legal action. Read More Elon Musk doppelganger fights fake Mark Zuckerberg in preview of cage match Twitter starts making payments to its controversial users, including $20k to Andrew Tate Threads: Elon Musk posts series of explicit tweets about Mark Zuckerberg

Elon Musk says Twitter is losing cash because advertising is still down sharply and the social media company is carrying heavy debt

Elon Musk disclosed on Twitter Saturday that, due to a 50% drop in advertising revenue and a "heavy debt load," the platform still has a negative cash flow.

Elon Musk said Twitter's cash flow remains negative because of a nearly 50% drop in advertising revenue and

By pursuing funding equity in court, financially challenged Pennsylvania districts are following a well-traveled school reform path

A mysterious new set of stars has been detected by Nasa’s James Webb Space Telescope, which could shed new light on dark matter. Dark matter remains one of the most hotly debated elements in our solar system, and the new objects could change the way it is studied. Scientists believe the huge, newly-discovered stars are powered by illusive dark matter and shared their findings in the journal PNAS. “Discovering a new type of star is pretty interesting all by itself, but discovering it’s dark matter that’s powering this – that would be huge,” said study co-author Katherine Freese from The University of Texas in Austin. Sign up to our free Indy100 weekly newsletter The dark stars, known as JADES-GS-z13-0, JADES-GS-z12-0 and JADES-GS-z11-0 – were first identified as galaxies last December. It’s thought that they existed about 320-400 million years after the Big Bang, making them some of the earliest objects ever seen. The nature of dark matter continues to fascinate and mystify the scientific community. It’s believed that it could be formed by a new type of undiscovered particle, and the theorised component of the universe does not absorb, reflect or emit light. It’s also thought that suspected dark stars like these could explain a potential anomaly surrounding the number of large galaxies in the early universe. Currently, there are too many to fit the predictions of the theories surrounding the origins and the future of the universe. “It’s more likely that something within the standard model [of cosmology] needs tuning, because proposing something entirely new, as we did, is always less probable,” Dr Freese said. “But if some of these objects that look like early galaxies are actually dark stars, the simulations of galaxy formation agree better with observations,” she explained. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

A rising number of British stores are using a facial recognition system powered by artificial intelligence to identify repeat shoplifters in what one human rights group has called the spread of "airport-style security" on the high street.

America’s largest semiconductor companies are embarking on a last-ditch effort to head off new curbs on their sales

A U.S. appeals court on Friday rejected the U.S. Federal Trade Commission's request that it order Microsoft to

A federal appeals court said it will not block Microsoft from closing its $69 billion acquisition of Activision Blizzard, handing the Federal Trade Commission its second major defeat this week in a case involving the future of the video game industry.

A U.S. appeals court has rejected a bid by federal regulators to block Microsoft from closing its $68.7 billion deal to buy video game maker Activision Blizzard

Thirteen Republican state attorneys general are cautioning CEOs of the 100 biggest U.S. companies on the legal consequences for using race as a factor in hiring and employment practices