Trump’s Truth Social crashes once again as former President’s app struggles to gain momentum April 19, 2022 Donald Trump's social media app Truth Social continues to disappoint fans who hoped it would “create a rival to the liberal media consortium and fight back against the “Big Tech” companies of Silicon Valley.”
Elon Musk launches full $41bn Twitter takeover: ‘It has extraordinary potential – I will unlock it’ April 14, 2022 Elon Musk has offered to buy Twitter for $54.20 per share this morning as the drama surrounding the social media giant continues. According to regulatory filing, this price represents a 38 per cent premium to the closing price of Twitter’s stock on April 1, the day before the billionaire became the largest shareholder of the [...]
Musk sued for not making Twitter stake increase public April 13, 2022 Elon Musk is being sued because he didn’t make public he had bought a major stake in Twitter. The Tesla and SpaceX billionaire, who recently became the largest shareholder in the social media giant, is facing action from investors in a New York federal court. This comes after Musk bought 9.2 per cent in Twitter [...]
Hostile Twitter takeover rumours grow as Elon Musk boasts he can grow stake ‘at any time’ April 12, 2022 The richest man in the world, Elon Musk, has fuelled rumours he will attempt a hostile takeover of Twitter, after saying he can boost his stake in the site “at any time”. The billionaire entrepreneur who runs Tesla and Space X became the social media giant’s main shareholder last week, but rejected an invitation to [...]
The City View: Sluggish UK economic growth, and Heathrow flying high April 11, 2022 Today Andy Silvester talks to City A.M.’s Economics and Markets reporter Jack Barnett. They go through lacklustre UK economic growth figures and why the cost-of-living crisis will hinder said growth; the latest inflation figures; the global economic recovery; and economic uncertainty to come. Andy also goes through the news: Heathrow has marked its highest number [...]
After Elon Musk turns down board seat: With 211m users worldwide, is Twitter the next social media giant to die? April 11, 2022 Sixteen years after its launch and with 211 million users, Twitter has long been considered one of the original social media platforms. However, as the likes of TikTok make rapid gains in popularity, it seems today’s social media users are being drawn away from the hard news and conflict of Twitter debate, to more positive environments. [...]
Elon Musk turns down Twitter board after asking 80m followers: ‘Is it dying?’ April 11, 2022 Elon Musk, the man behind Tesla and SpaceX, has turned down a spot on Twitter’s board, after being revealed as the platform’s majority shareholder. New Twitter CEO Parag Agrawal confirmed this morning: “Elon has decided not to join our board. “I believe this is for the best.” Musk was due to step onto the board [...]
Business of Space: ‘We’re taking business off the face of the Earth,’ says NASA administrator ahead of launch April 8, 2022 This week: Type One bets on London A historic commercial collaboration NASA’s moon setbacks Type One US-based venture capital fund Type One has launched a $50m (£38.3m) space and deep tech fund in London, as it steps into UK and European markets. The firm, which has $100m in assets under management, is hoping to catch [...]
Fast fashion retailer Shein hits $100bn valuation with fresh funding round April 6, 2022 Fast-fashion giant Shein has hit a $100bn valuation this week after a fresh funding round, making it the third most valuable startup in the world after Elon Musk’s SpaceX and ByteDance.
Does Twitter need an edit button? Major shareholder Musk polls 80m followers April 5, 2022 Elon Musk has polled Twitter users to ask if they want an edit button, after the billionaire entrepreneur was revealed to be platform’s largest shareholder yesterday. Based on Friday’s market close, the stake is worth some $2.89bn (£2.2bn), though just a fraction of Musk’s net worth of $233bn (£178bn). Musk, the man behind Tesla and [...]