China’s benchmark stock index is set to erase all of the gains it made since a key political

Canada's Competition Bureau said on Friday Royal Bank of Canada's (RBC) proposed acquisition of HSBC's domestic unit for

California officials may vote Tuesday to slash how much water a major bottling company can pull from a watershed in the San Bernardino National Forest

Torrential rains have hit China’s wheat fields at harvest time, leaving crops waterlogged and moldy in the country’s

WASHINGTON U.S. wholesale inventories fell for a sixth straight month in August, but the pace of decline slowed

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.

LITTLE ROCK, Ark.--(BUSINESS WIRE)--Oct 13, 2023--

Recent high-level meetings have helped improve the China-US relationship, a top official in Beijing said before an expected

NEW YORK Wells Fargo has agreed to pay a $35 million civil penalty to settle U.S. charges that

Russia is set to benefit from the Israel-Hamas conflict, as Israel’s requests for US military aid risk diverting

By Sam Tobin and Tim Hepher LONDON (Reuters) -Jet engine maker CFM International said on Wednesday thousands of engine components

Iran’s Islamic Revolutionary Guard Corps unveiled a new range of enhanced missiles on Saturday in its latest display