Chinese gold consumption is likely to be buttressed by financial investors and the central bank, although retail demand

IRVINE, Calif.--(BUSINESS WIRE)--May 12, 2023--

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.

By Victoria Waldersee MUNICH Mercedes-Benz does not expect its sales in Europe to be all-electric by 2030 but

FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--May 19, 2023--

By Rae Wee SINGAPORE A buoyant dollar pushed the yen to a 10-month trough on Thursday and kept

GLENDALE HEIGHTS, Ill.--(BUSINESS WIRE)--Oct 13, 2023--

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US wages have been on the rise, but it sure hasn't felt like it. For more than two years, persistent and pervasive inflation has taken big bites out of Americans' paychecks.