Tag: tweet

  • Musk sued for stock manipulation during Twitter takeover bid

    Musk sued for stock manipulation during Twitter takeover bid

    The most controversial billionaire Elon Musk has been sued by Twitter Inc shareholders, who claim he manipulated the company’s stock price downward, as the CEO of electric carmaker Tesla Inc mounts a $44 billion buyout offer for the social media platform.

    According to the investors, Musk saved $156 million by failing to disclose that he had acquired more than 5 per cent of Twitter by March 14. They requested class certification and an unknown amount of punitive and compensatory damages.

    They also named Twitter as a defendant, claiming the company owed them an investigation into Musk’s behaviour, though they are not seeking monetary damages from the company.

    As per the lawsuit, filed on Wednesday in San Francisco federal court, the investors claimed Musk continued to buy stock after that and eventually disclosed in early April that he owned 9.2 per cent of the company.

    “By delaying his disclosure of his Twitter stake, Musk engaged in market manipulation and purchased Twitter stock at an artificially low price,” the investors, led by Virginia resident William Heresniak, claimed. Requests for comment were not immediately returned by Musk or his lawyer.

    The recent drop in Tesla’s stock has put Musk’s ability to finance his acquisition of Twitter in “major jeopardy,” according to the investors, because he has pledged his shares as collateral to secure the loans he needs to buy the company.

    Tesla’s stock was trading around $713 per share on Thursday afternoon, down from over $1,000 in early April. According to the Wall Street Journal, the timing of Musk’s disclosure of his stake has already triggered an investigation by the US Securities and Exchange Commission (SEC).

    The SEC demands any investor who purchases more than 5% of a company’s stock to disclose their assets within 10 days of crossing the limit.

    The investors also claimed that Musk’s public criticism of the company, such as a May 13 tweet stating that the buyout was “temporarily on hold” until Twitter proved that spam bots accounted for less than 5% of its users, amounted to an attempt to drive the share price even lower.

    Musk pledged an additional $6.25 billion in equity financing to fund his bid for Twitter on Wednesday, indicating that he is still working to close the deal.

    Earlier this month, the tech mogul was sued in Delaware Chancery Court by a Florida pension fund, which sought to halt the transaction on the grounds that some other large Twitter shareholders were supporting the buyout, which is a violation of Delaware law. The lawsuit filed by Heresniak does not seek to halt the takeover.

  • Musk says no Twitter deal without clarity on bot accounts

    Musk says no Twitter deal without clarity on bot accounts

    The tech mogul Elon Musk and Twitter CEO Parag Agrawal are arguing about bots, which Musk has made a core issue in his acquisition of the microblogging site.

    On the other hand, Agrawal outlined Twitter’s approach to spam accounts and the obstacles it faces in dealing with them in a series of tweets on May 16.

    Every day, Twitter suspends almost half a million spam accounts, according to Agrawal. He reaffirmed Twitter’s long-held estimate that less than 5 per cent of its daily active users are spam accounts, which Musk mentioned on Friday when declaring that his $44 billion proposal to buy Twitter was temporarily on pause.

    That estimate, according to Agrawal, is based on ‘many human reviews of thousands of users’ picked at random, but it’s impossible to know which accounts are counted on any given day.

    While Twitter feels its estimations are realistic, the measures were not independently validated, and the actual number of bogus or spam accounts could be greater.

    Believe it or not, Musk responded to Agrawal’s first 13 tweets with a ‘faeces emoji’.

    Musk then asked a more thought-provoking inquiry about how can advertisers know what they’re getting for their money as this is essential Twitter’s financial health.

    Tesla’s CEO has been vocal about bots and spam accounts on Twitter, describing bitcoin spam and bots as the most aggravating issue on the network.

    Read more: Musk postpones Twitter acquisition after discovering number of fake accounts

    Anyone who has seen the answers to Musk’s tweets knows that they are full of such con artists, many of whom try to profit from Musk’s fame.

    However, other analysts believe that the world’s richest man is leveraging the bot issue to lower the price at which he would purchase the platform, whether as an unusual bargaining ploy or out of necessity.

  • PM Shehbaz rejects OGRA’s proposal, petrol price to remain unchanged till April 30

    PM Shehbaz rejects OGRA’s proposal, petrol price to remain unchanged till April 30

    Pakistan’s new Prime Minister (PM) Shehbaz Sharif on Friday dismissed the proposal from the Oil and Gas Regulatory Authority (OGRA) to raise the price of petroleum products for the fortnight. The recent decision is aimed at providing relief to the public affected by inflation.

    It is worth noting that the present government’s choice to maintain the same prices will oblige it to provide another substantial subsidy till the end of April 2022.

    Earlier, OGRA suggested to the Finance Division that the price of petrol be increased by Rs21.50 and that of diesel be hiked by Rs51.30 in view of the current petroleum levy and general sales tax (GST).

    Read more: Massive hike of Rs83.5 for petrol, Rs119 for diesel proposed by OGRA

    The authority also proposed a hike of Rs83.50 per liter of petrol and Rs119.88 per liter of diesel considering the federal government’s recommended petroleum levy of Rs30 and 17 per cent GST, as per the official statement.

  • Elon Musk offers $43 billion to acquire Twitter

    Elon Musk offers $43 billion to acquire Twitter

    Elon Musk has submitted a takeover bid for Twitter, offering $54.20 per share, days after becoming the group’s largest shareholder. This is an offer worth more than $43 billion.

    According to a Securities and Exchange Commission (SEC) filing, Mr. Musk described this as a “best and last offer,” reflecting a 54 per cent premium over the day before he commenced investing in the business in late January 2022.

    Musk stated in the filing that “I don’t have faith in the management” and that he could not make the adjustments he desired in the public market.

    As per a letter written to CEO Salesforce and chairman of Twitter, Bret Taylor, Musk stated that if the proposal is not accepted, he will reassess his status as a shareholder as Twitter has a lot of potential which needs to be unlocked.

    The billionaire CEO of Tesla and SpaceX and the world’s richest man, purchased a 9.2 per cent share in Twitter on April 4, according to a regulatory filing. The tech mogul was invited to join Twitter’s board of directors the next day, but he denied the offer by the end of the week.

    Musk wrote to Mr. Taylor on April 13: “I invested in Twitter because I believe it has the potential to be the global platform for free speech, and I believe free speech is a societal requirement for a healthy democracy”.

    Read more: Elon Musk is no longer joining Twitter board as the microblogging network is “dying”

    “However, after making my investment, I’ve come to recognize that the company, in its current form, can neither thrive nor serve this societal need,” he wrote. “Twitter should be turned into a private firm”.

    Considering the tweeted document, Musk’s financial adviser for the proposal is Morgan Stanley.

  • ‘25 baar change kia’: Imran Ashraf reveals what he did during social media outage

    ‘25 baar change kia’: Imran Ashraf reveals what he did during social media outage

    Imran Ahsraf has revealed what he was doing after WhatsApp, Facebook and Instagram services were down for more than six hours.

    WhatsApp said in a statement that it was aware that some users were having problems using the app, saying: “We’re aware that some people are experiencing issues with WhatsApp at the moment. We’re working to get things back to normal and will send an update here as soon as possible.”

    The Ranjha Ranjha Kardi star reacted to this and shared in a tweet that what he did during that phase, “I have switched 25 Wi-Fi passwords in an hour”.

    It should be noted that the services were out for over six hours and shares of Facebook fell almost five percent in the US stock market after being affected by Facebook, Instagram and WhatsApp services worldwide.

  • Shehzad Roy rejects marriage proposal, fears being called a ‘vampire’

    Shehzad Roy rejects marriage proposal, fears being called a ‘vampire’

    Singer and activist Shehzad Roy responded to a strange marriage proposal on social media with a witty response.

    Roy shared a photo of a cup of green tea and sweets on Twitter with the caption: “One must always prefer green tea over mithaee, kyoonkay zindagi mein jo thori khushi mil sakti thi, wo bhi na milay.”

    One female fan responded to Roy’s tweet by proposing to him. “I will make you green tea every day with my blood please marry me.”

    Roy’s hilarious answer was quite a hit. He tweeted, “Please don’t say such things otherwise people will start calling me a vampire.”

    Some Twitter users compared Shehzad Roy to Keanu Reeves who doesn’t age after his vampire comment.

  • Humayun Saeed turns down Indian girl’s marriage proposal

    Humayun Saeed turns down Indian girl’s marriage proposal

    Humayun Saeed, who was recently awarded the Pride of Performance from President Dr Arif Alvi for his contributions to the drama and film industries of Pakistan, received a marriage proposal on social media from an Indian fan.

    “Will you marry me? I know you are married,” wrote the user on Twitter. “But kya hi karun iss dil ka.”

    “I am from India and I love you like hell,” she said further, adding: “I am 24 years younger than you, but seriously [I] love you.”

    “Will you marry me in next janam” she then asked. “This janam not possible”.

    Replying to the proposal Humayun said: “Mujhe pyar karne ka shukria (Thank you for your love). Magar shaadi ke liye InshAllah aapko mujhse behtar log milenge (But you will find someone better to marry).”

    After getting a reply from Humayun, the Twitter user could not contain her excitement, saying that she felt like crying with happiness.

    Earlier, Shehzad Roy had also received a marriage proposal on Twitter to which the singer had had a hilarious response.

  • Polish blogger Aleks Mroz busts Katherine George’s charade

    Polish blogger Aleks Mroz busts Katherine George’s charade

    If you’ve recently been active on social media, chances are you might have come across two pictures of a white woman standing with a group of men and claiming that Pakistan “is a country that loves and respects women”.

    The pictures were tweeted from an account by the name of Katherine George, which has now been deleted. Katherine’s tweets were widely shared by social media users, with some endorsing her statement and others sceptical with her comments and identity.

    Turns out that Katherine George does not exist and her Twitter account was fake. Because pictures shared from that account were actually of Polish travel blogger Aleks Mroz, who took to her Instagaram account to clear the air and set the facts right.

    “I can personally talk about my own experience and the hospitality and kindness I received and it’s true,” said Alex while talking about her experience in Pakistan. “But I can never speak for the Pakistani women and I will never do.”

    “As any other foreigner here, I am the guest in Pakistan and and I can not speak out for local people,” she said further. “The amount of hate spread by one FAKE Twitter post influenced many people’s opinions causing huge harm not only to me (as my face was used in the highly-biased post), to other foreigners who are fully aware of the difference between the perception of a tourist and a local, but also to Pakistani people facing a FAKE white tourist who undermines their voice.”

    “Spreading hatred, ignorance and colour-oriented posts is the LAST thing I would like to do,” she added.

    Mroz also busted Katherine’s pretence, shared her own experience of being a tourist in Pakistan and what she thinks about the safety of local women in Pakistan.

  • People cannot stop arguing over whether Pakistani culture is more like Turkey or India

    The Pakistan Day celebrations at Parade Avenue in Islamabad, which took place on March 25 caught everyone’s attention this year for a different reason. The unusual thing that happened was a performance by a Turkish musical band, who played the theme song of Diriliş: Ertuğrul’s on the occasion.

    Referring to the performance, a Twitter user said: “You think the Turks secretly laugh at our unhealthy obsession with Ertuğrul?”

    While the tweet was meant to be humorous tweet, it started a debate on whether Pakistani culture reflects India or Turkey given most Pakistanis have grown up watching Bollywood.

    “Don’t know is it unhealthy? The whole country obsesses over Bollywood, a propaganda industry for a country that’s been trying to destabilize us for decades. I think a little Ertugrul is nothing in comparison,” said one Twitter user.

    Another user said: “We are obsessed with Bollywood because it has not been a century since Pakistan and India have been parted. We share the language and culture with them. Idk what do we have in common with Turks though.”

    https://twitter.com/rishamfs/status/1375349976298049537?s=21

    Check out some more tweets over the debate here:

    https://twitter.com/guzelrumz/status/1375349402542481410

    https://twitter.com/carpedisk/status/1375460787016228867

    https://twitter.com/rishamfs/status/1375472372757622784

  • Is Nutella Halal?

    Is Nutella Halal?

    Nutella has caused a storm this week after the brand’s US Twitter account incorrectly said the product was not halal.

    The claim was made after a Manchester-based Twitter user asked the company if the product is halal, to which Nutella responded, “No, they are not halal”.

    Muslim customers were not happy with the reply. Following the tweet, Muslims all over the world started questioning the brand where are the forbidden ingredients.

    https://twitter.com/nafology_/status/1305338092140867585?s=20

    The brand’s Twitter account later clarified its original post, telling users “All Nutella sold worldwide is suitable for Halal consumption”.

    The brand added, “We apologise for the mistake made in our earlier tweet.”