The details were revealed on Tuesday, as the South Africa-born billionaire declared in a social media post that X was going to war after two years of trying for peace. He claims the Global Alliance for Responsible Media (Garm) has conspired against X with members like Mars and Unilever. Don’t miss out the latest news,…
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Musk, who heads enterprises such as Tesla (TSLA) and SpaceX, acquired Twitter in October 2022 and changed the name to X. He then proceeded to fire thousands of employees in mass layoffs. Trina Thompson, the presiding US district judge in the matter, found that the Employee Retirement Income Security Act (ERISA) did not cover these…
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This investment firm assisted Musk to seal the acquisition deal. Reportedly, Axios indicated a further 11% loss in value after a portfolio update for the Fidelity Blue Chip Growth Fund. X suffered a series of markdowns by Fidelity after it battled to hold onto platform advertisers. After the Twitter takeover, Musk implemented a string of…
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Yoni Assia, CEO and Co-Founder of eToro, said: Financial content on social media has provided education to many who have felt excluded by more traditional channels. Twitter has become a crucial part of the retail investing community – it’s where millions of ordinary investors go every day to access financial news, share knowledge and converse.…
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Joseph Sansone, Chief of the SEC Enforcement Division’s Market Abuse Unit, said: As our complaint states, the defendants used social media to amass a large following of novice investors and then took advantage of their followers by repeatedly feeding them a steady diet of misinformation, which resulted in fraudulent profits of approximately $100 million. Today’s…
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Elon Musk commented: Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the…
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What to watch AbbVie: For pharmaceutical company AbbVie, sales of its flagship Humira drug - which treats Crohn’s disease and arthritis among other inflammatory conditions - will be the key point to watch in its Friday quarterly earnings report. Zacks Equity Research noted that sales may have been affected by the launch of rival products…
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What to watch Barrick Gold: While the price of gold has soared from $1,500 an ounce at the start of the year to more than $2,000 now, many gold miners have ridden that wave to even greater heights, as the higher price greatly expands the profit margins they are able to generate. Barrick Gold, a…
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CEO Jack Dorsey tweeted on Wednesday: Tough day for us at Twitter. We all feel terrible this happened. We're diagnosing and will share everything we can when we have a more complete understanding of exactly what happened. Twitter took steps to verify accounts and blocked users from tweeting bitcoin wallet addresses temporarily. CryptoForHealth.com website was…
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Jack Dorsey is an open supporter of the blockchain technology without a doubt. He recently travelled to Africa and commented on the fact that, according to him, Africa is the next big place for blockchain and cryptocurrencies. Apart from that, the CEO of Twitter is thinking of moving the platform to blockchain. On December 11th,…
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