Twitter employees have been working far longer hours than usual since Elon Musk came on board, according to Research Editorial. This comes as employees face the prospect of layoffs as part of the internet mogul’s planned makeover of the company.
According to CNBC, citing internal correspondence, Twitter administrators have forced certain employees to work 12-hour shifts seven days a week – 84 hours a week — to meet Musk’s targets.
Musk’s $44 billion purchase of the social networking platform was completed on Thursday evening, but concerns about layoffs at the company had been circulating for some time. It is unclear how many employees will be laid off, when, and which teams would be the most impacted.
Since Friday, employees have been assigned duties, which some regard as a test by Musk’s team to evaluate who works hard.
Insider has revealed that Musk’s team handed some of Twitter’s engineers weekend coding tasks known as sprints. Other responsibilities include making significant improvements to Twitter’s verification process.
Tom Brady and Gisele Bundchen announced their divorce on Friday afternoon. After 13 years of marriage, Tampa Bay Buccaneers quarterback Tom Brady and Brazilian top model Gisele Bündchen announced their divorce last Friday. It seems like an eternity since the last time they had public words of affection, but in an era where memory is not the best feature, we are dedicated just to remembering the last happy birthday messages that this couple dedicated to each other on social media.
NBC2 tweeted, “Tom Brady was spotted handing away food in Englewood.”
While Brady has had a difficult week (a loss to the Ravens, a divorce), he isn’t letting it interfere with his important weekend.
Brady, 45, spent the weekend helping with hurricane assistance.
One supporter described him as “a man of the people.”
“He recently divorced, his football team is currently underperforming, and he’s out in the streets of a natural disaster zone handing out food…… Please explain to me why people despise this man “one supporter commented
“I’d love to see it! I’m not going to bet against him “another fan was added
Tom Brady made a great move there.
Tom Brady’s message on Gisele Bündchen’s 42nd birthday:
On July 20, the former Victoria’s Secret Angel turned 42, and on the same day, Brady posted a publication, also on Instagram, in which his then-wife is seen with an extraordinarily sensual position and a large smile; before that image, the former New England Patriots player wrote:
According to Platformer Casey Newton and The Verge, with Elon Musk in control, Twitter plans to raise the price of its Blue subscription plan from $5 to $20 per month and make it mandatory for verified users. If the plan is launched, verified users (celebrities, politicians, journalists, etc.) must sign up for the service within 90 days or lose the blue check mark. Employees working on the project have reportedly been told they will be fired if the improvements are not implemented by November 7th.
Twitter introduced Blue in the United States late last year for $3 a month but raised the price to $5 in July. It provides subscribers with benefits such as top articles, unique icons, and, most recently, the ability to modify tweets. The firm has not disclosed membership counts, revenue, or other statistics regarding Twitter Blue, but according to Investopedia, the great majority of its revenue (89 percent) comes from advertising.
Musk indicated the change in a tweet yesterday, saying that “the entire verification procedure is being rebuilt right now.” As Newton pointed out, Twitter’s @verified now follows approximately 428,000 accounts that have the blue check, representing a small percentage of the site’s 206 million daily active users.
Many of them have tweeted about the change, and many would not pay $20 to maintain their verified status. At the same time, users have expressed concern that the new approach may exacerbate Twitter’s bot and spam concerns, which Musk appears to despise. “The objective of Twitter verification is… to be able to verify their assertions are coming from them,” cosmologist and writer Katie Mack tweeted.”It’s meant to combat misinformation, not to be a status symbol.”
Musk has been very busy in his short days as “chief twit.” According to The New York Times, he has ordered company-wide layoffs. On Saturday, the SpaceX and Tesla CEO reportedly instructed managers to begin compiling lists of staff to lay off.
That didn't take long at all. Elon Musk's $44 billion takeover of Twitter is only four days old, and he's already facing backlash from celebrities, lawmakers, and advertisers concerned about how the social network may alter under his leadership, even as many conservative voices applaud.
She said of the man who attacked House Speaker Nancy Pelosi’s husband this week. “He was tweeting antisemitic tropes, he was exhibiting memes that depicted violence, and all of this election-denying, pro-Trump, MAGA-crowd stuff,” That’s what we’re up against here… I just don’t think that any individuals should be getting money off of spreading a lot of misinformation.”
She noted that whereas TV networks are required to filter advertising for incorrect information before they have been shown and published, companies such as Twitter are not subject to the same rules.
“We need to modify the requirements for these companies,” she explained. “They’re profiting from us.” They are profiting from the violence.”
Meanwhile, NBA superstar LeBron James said yesterday that the increase in N-word usage on Twitter since Musk’s takeover was “scary AF,” and he hoped Musk “and his staff takes this very seriously.”
This came to know after the Network Contagion Research Institute, a social media research organisation, reported that use of the N-word on Twitter increased 500% in the 12 hours after Musk took control.
“Freedom of expression.” “Liberal tears,” Ohio Rep. Jim Jordan tweeted on Friday. Jordan is a close ally of former President Donald Trump, whom the previous Twitter administration barred from the platform—and whom Musk may invite back.
According to Dataminr, which also analyses social media, antisemitic memes increased, as did the term “plandemic”—shorthand for a conspiracy theory in which elites use the pandemic to obtain power and profit from vaccinations.
Meanwhile, Texas Senator Ted Cruz told Fox News on Friday, “I think Elon Musk buying Twitter is one of the most momentous moves in modern times for free speech.”
“I am extremely delighted that Twitter is now in sane hands, and will no longer be ruled by Radical Left Lunatics and Maniacs who actually detest our country,” Trump tweeted on his alternative social site Truth Social.
Podcaster Joe Rogan, for one, praised Musk, a self-described “free-speech absolutist,” on Saturday for seeking to restore a “reasonable exchange of ideas” on the platform.
“I think we have a serious problem with Twitter discourse,” he continued. “Some would like to quiet those who hold opposing views, and then you get all this great feedback from everyone who agrees with you.”
Amazing bench performance by Russell Westbrook and his effort inspires Lakers fans.
Darvin Ham, the Lakers’ coach, was hopeful that a fresh plan would help his club win its opening game of the season against the Timberwolves tonight.
While the Lakers lost again (bringing their record to 0-5 overall), there was some hope at the end of the tunnel. Russell Westbrook, in particular, stood out.
Season-Opening First Game: Russell Westbrook Explosive Performance
In what has typically been a disappointing season for Westbrook, he played well on Friday, scoring 18 points, 8 rebounds, and 3 assists. After his bench debut, supporters couldn’t help but be optimistic on Twitter.
Westbrook is most effective with the ball in his hands, and coming off the bench allows him to do so as the offense’s orchestrator. It’s no surprise that he was successful with the second unit.
The question is how he will adapt to a permanent bench role.
The answer, according to Kendrick Perkins, isn’t good.
In a recent appearance on NBA Today, league analyst (and former big man) Kendrick Perkins stated unequivocally that he does not believe Westbrook will handle the situation well.
“This is an audition for Russell Westbrook,” Perkins explained. “Not only to help the Lakers win games but also because the rest of the world will be watching to see how he handles this issue. And I honestly don’t think he’ll be able to manage it well. Remember, he missed the previous game due to a hamstring injury, which he blamed on Darvin Ham and the coaching staff for forcing him to come in off the bench because he wasn’t used to it. I can tell you right now that Russell Westbrook is not pleased with the scenario, and this is simply the beginning of the end for Russell Westbrook and the Los Angeles Lakers.”
Westbrook is having a poor season by his standards, averaging 10.3 points, 6.7 rebounds, and 4.3 assists per game, and the Lakers will need more from him if they are to salvage this season. Tonight was a promising start, but it eventually proved ineffective.
For the time being, all they can do is put out what they have, hope for the best, and wait for the opportunity to make the move they believe is best for them.
Early morning Friday, an intruder broke into House Speaker Nancy Pelosi’s San Francisco home and “violently assaulted” her husband, Paul Pelosi, who is being treated at a local hospital.
According to San Francisco Police Chief Bill Scott. The suspect in the attack on Paul Pelosi will face charges including attempted homicide and assault with a deadly weapon, he also told reporters that officers responded to the Pelosi residence at 2:27 a.m. and found an adult male and Mr. Pelosi “both carrying a hammer. The suspect, 42-year-old David Depape, “pulled the hammer away from Mr. Pelosi and violently attacked him with it.” Scott said that the Our officers immediately tackled the suspect, disarmed him, arrested him, called the emergency backup, and rendered medical help,”
According to a News source reporter, the intruder addressed the Speaker’s husband, shouting, “Where is Nancy, where is Nancy?”
President Biden “is praying for Paul Pelosi and for Speaker Pelosi’s whole family” following the “horrible attack.”
US Speaker Nancy Pelosi’s husband, Paul Pelosi, was attacked, according to San Francisco Police Chief Bill Scott. The suspect in the attack on Paul Pelosi will face charges including attempted homicide and assault with a deadly weapon
According to two sources familiar with the investigation, Paul Pelosi was specifically targeted, violently assaulted with a hammer, and suffered blunt force injuries to his head and torso. According to the sources, Pelosi is being treated for injuries like bruises and significant swelling.
On Friday, San Francisco Mayor London Breed sent a statement to Fox News Digital in response to the attack.
“This was a horrifying and terrifying incident. I’ve reached out to Speaker Pelosi to express my solidarity with her and her family. I’d want to express my gratitude to the 911 dispatcher, the San Francisco Police Department, and the San Francisco Fire Department for their prompt reaction to this situation. The suspect is in police custody, and we will disclose further information as it becomes available “Breed stated.
Lawmakers respond to the attack:
Lawmakers from both parties quickly condemned the incident and expressed their support for the Pelosi family.
Mitch McConnell, R-Ky., said he was “horrified and appalled” by the attack and is “grateful to hear that Paul is on course to make a full recovery.”
Lawmakers respond to the attack on Twitter
Senate Majority Leader Chuck Schumer, D-NY, issued a statement calling the attack a “dastardly act” and expressing his “deepest sorrow and sincere wishes” to Speaker Nancy Pelosi.
Texas GOP Sen. Ted Cruz called the attack “horrific”, adding “We can have our political views, but violence is always wrong and unacceptable.”
Elon Musk finally completed his $44 billion acquisition of Twitter Inc., according to people who are familiar with this matter, the world’s richest man takes charge after long time of 6 months struggle with public and legal wrangling over the deal for the social network
Now Twitter will operate as a private company and the shareholders will be paid $54.20 per share.
The conclusion brings to an end a complicated process that commenced in January with the billionaire quietly accumulating a sizable investment in the company, his developing expression of how the way it’s handled and run, and an eventual merger agreement that he later spent months trying to unravel.
Musk agreed to proceed on his originally proposed terms On Oct. 4, and a Delaware Chancery Court judge gave the two sides until Oct. 28 to close the deal. That deadline was met, and now the CEO of both Tesla Inc. and SpaceX Elon Musk, also takes control of Twitter, a service he uses frequently but openly criticizes, and he has promised to modify dramatically. Stocks of the company’s shares are no longer expected to trade on the New York Stock Exchange.
As the deadline is close, Musk began to stamp his mark on the company, posting a video of himself entering the headquarters and changing his profile descriptor on the platform he now owns to “Chief Twit.” He planned to address the staff on Friday and arranged the meetings in between Tesla Engineers and product leadership at Twitter. According to the people, Twitter’s developers could no longer make modifications to code as of noon Thursday in San Francisco, as part of an effort to guarantee that nothing about the product changes until the deal closes.
Now Twitter will operates as private company and the shareholders will be paid $54.20 per share.
Since the merger was revealed in April, Twitter staff have been bracing for layoffs, and Musk mentioned the concept of cost cutbacks to banking partners when he was initially fundraising for the deal. A person familiar with the subject earlier this month told some possible investors that Musk aims to reduce 75% of Twitter’s employees, which now numbers around 7,500, and expects revenue to double within three years.
According to people familiar with the matter said, while visiting the headquarters on Wednesday, Musk told all employees of Twitter that he does not intend to lay off 75% of the company’s employees when he takes over.
During an all-hands meeting in June following his acquisition deal, Musk stated that Twitter “needs to get healthy,” a reference to cost-cutting. He has also stated that only “extraordinary” employees will be permitted to work from home, with everyone else required to come to the office. Twitter, situated in San Francisco, was one of the first significant corporations to guarantee all employees the ability to work from anywhere “forever.”
Twitter has assisted him in some of his efforts. In May, the company declared a hiring freeze, shuttered or downsized many locations worldwide, and canceled a companywide trip to Disneyland in 2023.
It was long assumed that Agrawal would step down once Musk took over. Text conversations revealed during the case suggest that the two men had a contentious discussion early in the process, and Musk later criticized Agrawal for being on vacation in Hawaii during some of the early negotiations. Former Twitter CEO Jack Dorsey’s efforts to get them back together after the merger was announced ended poorly.
The last six months have been difficult for Twitter employees, who have mostly followed the ups and downs of the roller-coaster agreement via news headlines.
Announced by Egypt’s central bank on Thursday that it raised the key interest rates by 2% and switched to a more flexible exchange rate system in a bid to combat the country’s mounting economic issues.
Egypt is trying to secure a new loan from the International Monetary Fund after its economic woes deepened due to the war in Ukraine. The fund has long been urging Egypt to allow greater exchange rate flexibility.
The bank’s Monetary Policy Committee said in a statement that it had raised the new lending rate to 14.25% and the deposit rate to 13.25%. The discount rate was also raised to 13.75%, it said.
Also, the bank announced, it had moved to “a durably flexible exchange rate” system, a change that would allow the international markets to “determine the value of the Egyptian pound against other foreign currencies.”
The central bank of Egypt has declared a 2% increase in interest rates.
The actions are intended to lessen the financial strain on lower- and middle-income households and counteract rising inflation, which reached 15% in September. The adjustments come as the Egyptian government continues its months-long discussions with the International Monetary Fund for a new loan to fund a reform plan that would assist in addressing the nation’s struggling economy.
The coronavirus pandemic and the war in Ukraine, which have disrupted international markets and raised oil and food prices globally, have had a significant negative impact on the Egyptian economy. The majority of the wheat Egypt imports comes from Russia and Ukraine, making it the largest importer in the world. The nation’s supply is susceptible to shifts in price on the global market.
The National Bank of Egypt supplied data showing that after the bank’s announcement, the value of the Egyptian Pound decreased from roughly 19.75 Pounds to a Dollar to at least 22.50 Pounds to a Dollar.
The bank stated, “Egypt is committed to stepping up its reform agenda to ensure macroeconomic stability and promote strong, sustainable, and inclusive growth.”
Marvell Technology Group Ltd (MRVL.O), a US, Santa Clara, California -based manufacturer of microchips, announced on Thursday that it is eliminating some of its research and development positions in China.
In a written answer to inquiries from Reuters, Marvell’s vice president of corporate marketing Stacey Keegan stated, “In China, we will focus our R&D spending on local clients and the China market.”
“Several of our business divisions and functions are announcing adjustments to their global location strategy as part of this reorganization, which will eliminate roles in China.”
According to iJiwei, an online news portal monitoring the semiconductor industry, Marvell once employed 1,000 workers in China, with roughly 800 of them working in its research and development facility in Shanghai.
Marvell omitted to say how many employees will be impacted by the layoffs.
According to unnamed industry insiders cited by domestic Chinese media outlet iJiwei late on Wednesday, Marvell intended to fire a sizable section of its Chinese R&D team.
US chipmaker Marvell has announced some job cuts in China’s R&D sector.
Slowing Chip Demand:
The company’s decision is being accompanied by chipmakers’ preparation for a decrease in demand after a surge at the height of a global chip scarcity.
Due to sluggish demand, Samsung Electronics on Thursday reported a 31% decline in profit and predicted that it would remain low until early 2023.
After Samsung, SK Hynix, and Advanced Micro Devices released gloomy estimates for the near future, chip stocks have fallen this month.
Recent Developments stated by Quintile Insights in their published study:
o In September 2021, Toshiba Electronic Devices & Storage Corporation launched a new M4G Group of Arm Cortex-M4 Microcontrollers for high-speed data processing products in the TXZ+TM Family Advanced Class.
Indian FMCG company Dabur announced on Wednesday that it will acquire 51% shareholding of Badshah Masala Pvt Ltd, in a Rs 587.52-crore deal, marking its entry into the fast-growing spices and seasoning category, which is in the business of manufacturing, marketing, and export of ground and blended spices and seasonings.
“This acquisition is in line with the Dabur’s strategic intention to enter an adjacent new category in the food sector to Rs. 500 Core in three years, ” Dabur India said in a regulatory filing. It also marks his entry into the over 25,000 crore ground and blended spices and seasonings market in India.
The acquisition had announced by the Chairman of Dabur India Ltd, Mohit Burman: “Our investment in Badshah Masala will help us to grow in this business and continue to deliver unmatched quality products. This acquisition will gear up the growth strategy as we continue to grow in our food business sector, Our intention is to leverage our international business in the food sector and market presence to expand business across the globe.
Indian FMCG company Dabur announced on Wednesday that it will acquire 51% shareholding of Badshah Masala Pvt Ltd
According to a report by Avendus Capital, The blended spices and seasonings market in India is valued at Rs 70,000 crore, in which 35 percent share is for branded spices market and it’s set to double the size by 2025 to Rs. 50,000 crores. Avendus Capital, estimated that in FY30, 15 spices companies are estimated to exceed the revenue by Rs. 1,000 crores, and four will achieve an annual turnover of Rs. 5,000 crores.
According to Trendlyne statistics, In May 2001, Dabur declared 47 dividends. It declared a total dividend of 520.00%, or Rs 5.2 per share, in the most recent fiscal year. This results in a dividend yield of 0.98% at the current share price of Rs 532.15. Looking to buy the majority of stakes in Badshah Masala. It intends to acquire 51% of Badshah Masala’s equity share capital right away and the remaining 49% after five years. According to the company’s filing with the exchanges, the purchase is subject to the fulfillment of a number of terms and conditions outlined in the SPA and the SHA.
Currently, Dabur’s includes the following products in his FMCG portfolio: Dabur Amla, Vatika, and Dabur Red Paste also in the Personal Care category; Dabur Honitus, Dabur Honey, Dabur PudinHara, Dabur Chyawanprash, and in the Food & Beverage category products are Dabur Lal Tail.
In FY22, Dabur reported combined operating revenue of Rs 10,889 crore and a combined profit after tax of Rs 1,742 crore.
“Badshah’s potential for future growth will be put on a greater trajectory thanks to Dabur. Our businesses are a perfect fit. The addition of our products to Dabur’s extensive product line would allow us to accelerate our expansion and better serve consumers worldwide “Hemant Jhaveri, managing director of Badshah Masala Private Limited, stated.
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