By Andres Gonzalez and Amy-Jo Crowley LONDON (Reuters) -Mobile phone tower operator Cellnex will accelerate asset sales in a bid

SoftBank Group Corp.’s Vision Fund is preparing to start another round of layoffs as soon as this week,

Asian stock markets have followed Wall Street higher on hopes U.S. political leaders can reach agreement to avoid a potentially disastrous default on government debt

GREENSBORO, N.C.--(BUSINESS WIRE)--Oct 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.

A look at the day ahead in European and global markets from Ankur Banerjee Traders remain in vigilance mode over

NEW YORK Morgan Stanley CEO James Gorman said the bank could look for more deals in asset management.

SINGAPORE--(BUSINESS WIRE)--Jul 11, 2023--

HIKONE, Japan--(BUSINESS WIRE)--Jul 31, 2023--

Oil steadied after growing concerns over weakening demand sparked the steepest one-day plunge in more than a year.

BANGKOK Thailand's economy expanded slower than expected in the second quarter, data showed on Monday, with strength in

Hamas said it’s ready to release a second group of hostages to Israel, resolving a dispute that threatened