List of All Articles with Tag 'w'

On Saturday (July 15), Elon Musk revealed that Twitter is struggling with a “heavy debt load” due to advertising revenue dropping 50 per cent. Responding to a user seemingly giving financial business advice to Musk, the billionaire replied explaining that the company is “still in negative cash flow, due to ~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.” Back in April, Musk had said Twitter was “roughly breaking even,” as most of its advertisers had returned. However, a New York Times report in early June found that Twitter’s revenue from US advertising was down 59 per cent from the previous year. Since taking over Twitter in October last year, Musk has faced constant scrutiny for his business decisions, cutting roughly 75 per cent of its workforce almost immediately, as well as reinstating users who were previously banned for breaking terms of service. Sign up to our free Indy100 weekly newsletter In May, Musk hired a new CEO, Linda Yaccarino, an ex-NBCUniversal advertising executive. The new hire was supposed to signal a fresh start for the platform under Musk’s ownership, but it clearly hasn’t worked in bringing previous advertisers back. Twitter has also caused new upset by imposing ‘rate limits’ on how many tweets users can view a day. At the time, Musk had said the restrictions were required to “address extreme levels of data scraping & system manipulation”. Another challenge that faces Twitter is Meta’s Threads, the new app it launched this week to compete with Twitter. Meta saw over 100 million users sign up in the first two weeks, but is yet to allow advertisers to host on the platform, despite interest. In response, Twitter threatened legal action, with Twitter’s attorney, Alex Spiro, accusing Meta for unlawfully using trade secrets and other intellectual property to create a “copycat” app. 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.

President Vladimir Putin said Russia would use cluster bombs if they’re used against his troops, while denying -

Turkey boosted its fuel taxes by almost 200% on Sunday, a move that will magnify inflationary pressures and

The leader of the UK’s political opposition promised his party would avoid large government spending increases to ensure

After a three-year exile driven by the pandemic, San Francisco’s downtown has waited for the crowds, the commuters and electric ambience to return

Indonesia Finance Minister Sri Mulyani Indrawati said she was optimistic about the 5% economic growth target this year

China’s Cyberspace Administration imposed punishments on 373 accounts on internet platforms after a recent campaign found them “fabricating

Traders who drove the pound to its best week of the year have a lot riding on the

As temperatures soar around the world, US Climate Envoy John Kerry arrives in China today for three days

Another Powerball drawing ends with no winner, sending the jackpot soaring to an estimated $900 million

Treasury Secretary Janet Yellen said she believes the US should look for ways to further “de-escalate” tensions with

The UK signed a treaty to join a Pacific trade deal on Sunday, formally becoming the first new