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☆ Before-and-after video from inside Elon Musk's new X-themed HQ shows old Twitter bird logos coming down and lots of black paint
▼ + stars: | 2023-07-31 | by ( Kylie Kirschner | Kali Hays | ) www.businessinsider.com time to read: +3 min

Elon Musk rolled out a major rebrand of Twitter as "X" a week ago. The Twitter sign was removed earlier this week and an X was projected onto the building. Videos from inside the HQ shows the bird logos removed, black walls, and X-themed conference rooms. Elon Musk's sweeping rebrand of Twitter has extended to the walls and conference room inside the company's San Francisco headquarters. One marketing expert called the Twitter rebrand "completely irrational."

Persons: Elon Musk, Elon Musk's, Jenner Balagot, Ralph, Musk, Musk's Tesla, Grimes Organizations: Twitter, Morning, San, San Francisco, PayPal, X Holdings, xAI Locations: San Francisco

☆ Musk risks even more damage to Twitter's business as the messaging app changes name to X
▼ + stars: | 2023-07-24 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +5 min

Elon Musk announced that there will be a rebranding of Twitter soon, and speculation points to the implementation of X.Elon Musk has long been enamored with the letter X. Musk had already converted Twitter's corporate name to X Corp, which itself is a subsidiary of X Holding Corp, as revealed in an April court filing. Musk's desire to turn X into a super app requires "time, money and people," which Twitter "no longer has," said Proulx. "Twitter's rebrand is a reminder that Elon Musk, not Threads or any other app, is and has always been the most likely 'Twitter killer,'" Enberg wrote. WATCH: Elon Musk wouldn't be who he is without 'demon mode' and his drive.

Persons: Elon Musk, that's, China's, Mike Proulx, Musk, " Proulx, didn't, It's, X.com, adieu, Linda Yaccarino, Proulx, Ralph Schackart, William Blair, Jasmine Enberg, Enberg, Elon, wouldn't Organizations: Twitter, Forrester, X Corp, X Holding, SpaceX, PayPal, Facebook, Google, CNBC, Insider Intelligence

☆ Police crashed Elon Musk's attempt to take down Twitter's sign with a crane
▼ + stars: | 2023-07-24 | by ( Sindhu Sundar | Kali Hays | ) www.businessinsider.com time to read: +3 min

As the new logo debuted on the site, efforts were underway to erase a Twitter sign in San Francisco. Elon Musk spirited the "X" logos onto Twitter's site seemingly overnight, but it may take a while longer to change the sign outside his company's headquarters. The San Francisco police department halted the work on Monday afternoon and spoke to workers tasked with removing the sign, according to the San Francisco Standard. A crane was used to remove some of the letters from the Twitter sign on the company's San Francisco office building. San Francisco Police stand next to the crane used to dismantle some of the letters in Twitter's SF office sign.

Persons: Elon, Elon Musk, Justin Sullivan, SFPD, We'll, Shorenstein, Getty, Kali Hays, Sundar Organizations: Twitter, Police, San, San Francisco Standard, X Holdings, San Francisco Police Locations: San Francisco, khays, ssundar

☆ Elon Musk says he plans to boot the Twitter brand and 'bid adieu' to 'all the birds'
▼ + stars: | 2023-07-23 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Elon Musk said he's planning to change Twitter's logo and get rid of its bird character. Musk pinned a tweet with a graphic of a new "X" logo, meaning he may already have a replacement. Elon Musk indicated he's planning to scrap Twitter's logo – and has even started asking users for ideas for his new X app. "And soon we shall bid adieu to the twitter brand and, gradually, all the birds," Musk also tweeted. After Musk asked for suggestions, he continued to post prospective logos on his page, including retweeting the X.com logo Musk used for his online banking venture that was founded in 1999.

Persons: Elon Musk, Musk, adieu, He's, Tencent's Organizations: Morning, Twitter, Fidelity, Bloomberg, X Corp

☆ Twitter's latest vendor to go unpaid is Oracle, despite Elon Musk's friend Larry Ellison investing $1 billion in the takeover
▼ + stars: | 2023-06-21 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Oracle cofounder Larry Ellison is a fellow billionaire and longtime friend of Musk. Even Elon Musk's close friend and financial backer Larry Ellison isn't safe from the Twitter owner's refusal to pay various bills and expenses. Oracle, the company Ellison cofounded and where he remains chairman and CTO, is the latest Twitter vendor to go months without being paid for services rendered, according to two people familiar with the company. Stiffing Oracle is more of a surprise given Musk's close personal and financial relationship with Ellison. Ellison was subpoenaed as part of Twitter's lawsuit to force Musk into acquiring the company for the agreed upon price.

Persons: Elon Musk, Larry Ellison, Musk, Elon Musk's, Larry Ellison isn't, Ellison, He's, Linda Yaccarino, Kali Hays Organizations: Twitter, Oracle, Google, X Holdings, Tesla, New York Times Locations: Europe, Asia, khays

☆ France's Mistral AI raises 105 mln euros shortly after being set up
▼ + stars: | 2023-06-13 | by ( Sudip Kar-Gupta | ) www.reuters.com time to read: +2 min

The fund-raising highlights the rapid growth of the artificial intelligence (AI) sector as well as Europe's desire to create rivals to Silicon Valley companies such as Microsoft-backed (MSFT.O) OpenAI and Google's (GOOGL.O) DeepMind. Paris-based Mistral AI was set up by former Meta (META.O) and Google artificial intelligence researchers Timothee Lacroix, Guillaume Lample and Arthur Mensch. Mistral AI's fund-raising was led by international venture capital fund Lightspeed Venture Partners. Former Google CEO Eric Schmidt is also a shareholder in Mistral AI. "Bravo to the start-up Mistral AI which has raised 105 million euros just a month after its creation: a record!"

Persons: Schmidt, Xavier Niel, Rodolphe Saade, Timothee Lacroix, Guillaume Lample, Arthur Mensch, Mensch, Mistral, Eric Schmidt, Jean, Noel Barrot, Bravo, Sudip Kar, David Evans, Leslie Adler Organizations: Lightspeed Venture Partners, Microsoft, Meta, JCDecaux, Italy's Exor Ventures, Mistral, Paris, Twitter, Thomson Locations: PARIS, Silicon, DeepMind, Paris, France, Europe, New York , California, London

☆ Fidelity marks down value of Twitter stake again
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: 1 min

May 30 (Reuters) - A Fidelity fund has marked down the value of its stake in Twitter for the third time since Elon Musk's $44 billion takeover of the social media platform in October, a monthly disclosure by the investment firm showed on Sunday. Fidelity Blue Chip Growth Fund's stake in Twitter, which now exists under Musk's X Holdings Corp, was valued at nearly $6.55 million as of April 28, compared with $7.8 million as of Jan. 31 and almost $8.63 million at November-end. Earlier this month, Musk named former NBCUniversal advertising chief Linda Yaccarino as Twitter's new CEO as the company struggles to reverse a slump in advertising revenue and navigate an overhaul that included mass layoffs. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Musk, Linda Yaccarino, Jaiveer Singh, Devika Organizations: Twitter, Elon Musk's, Fidelity, X Holdings Corp, Thomson Locations: Bengaluru

☆ Elon Musk further teased his ambition to turn Twitter into an 'everything app' with a cryptic tweet a week after the company merged into X Corp
▼ + stars: | 2023-04-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Elon Musk simply tweeted "X" a week after Twitter Inc merged into his X Corp Holdings. Musk has said X will be an "everything app," and has applied for financial licenses for Twitter. "Buying Twitter is an accelerant to creating X, the everything app," the billionaire tweeted three weeks before his acquisition went through last October. The Twitter chief developed an affinity for the letter back in the 1990s, founding the company "X.com" which later became PayPal. That seems to include a payment service, as Twitter applied for regulatory licenses after his takeover, per the Financial Times.

☆ After a wild, losing week for stocks, investors brace for more market-moving data
▼ + stars: | 2023-03-11 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

But PPI readings can predict the direction of future consumer price readings. High interest rates hurt because they increase monthly costs, but it's the lack of supply that contributes to elevated list prices. If we can get inflation down while seeing other economic indicators hold up, the likelihood of a soft landing increases. ET: Industrial Production & Capacity Utilization Looking back It was a tough week for stocks, with the Dow falling 4.4% in its worst showing since June. Under the hood, all sectors finished lower for the week, led down by financials and followed by materials and real estate.

☆ Fidelity has marked down its Twitter shares by 60% since Musk's takeover
▼ + stars: | 2023-01-30 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Fidelity, one of the co-investors that backed Elon Musk's Twitter takeover, has written down its stake in the social media platform by 60% since the deal closed in late October. Fidelity's Contrafund, with $91 billion assets under management, valued its Twitter shares at $21.2 million as of Dec. 30, according to a new disclosure posted on its website Sunday. The Boston-based asset manager holds Twitter shares in a few of its mutual funds under the name "X Holdings I Inc," and Fidelity evaluates its holdings on a monthly basis. Fidelity Blue Chip Growth Fund owned $7.8 million of Twitter shares at the end of 2022. Musk has sold billions of dollars worth of Tesla shares to finance the Twitter takeover, and pulled in talent from Tesla, SpaceX and the Boring Co. , including executives, engineers and lawyers, to assist him at Twitter.

☆ Elon Musk gambled big on Twitter. Tesla is going to pay the price.
▼ + stars: | 2022-12-05 | by ( Vicki Bryan | ) www.businessinsider.com time to read: +13 min

Whatever you might think of Twitter, it's hard to watch Elon Musk clumsily flay it alive to "save it." Having observed Musk in action for years there is one troubling option I suspect he may pursue: raid Tesla. But siphoning cash from Tesla, Musk's only profitable company, just as serious competition is toppling its dominance, should concern Tesla's investors. And given his obsession with Twitter, they may well ask: How far will Elon go to save Twitter at Tesla's expense? Tesla's stock is down more than 50% this year — evaporating nearly $700 billion in market-cap value since its peak in late 2021.

☆ How Elon Musk Could Use Money From Tesla to Prop up Twitter
▼ + stars: | 2022-12-05 | by ( Vicki Bryan | ) www.businessinsider.com time to read: +13 min

Whatever you might think of Twitter, it's hard to watch Elon Musk clumsily flay it alive to "save it." But siphoning cash from Tesla, Musk's only profitable company, just as serious competition is toppling its dominance, should concern Tesla's investors. And given his obsession with Twitter, they may well ask: How far will Elon go to save Twitter at Tesla's expense? How Musk could use Tesla to try and save TwitterMusk cobbled together his Twitter funding primarily by selling off a major chunk of his stock in Tesla and taking out huge loans. Saving Twitter won't kill Tesla anytime soon, and Twitter might not survive unless it does, but Musk is draining Tesla's capacity to weather what could be its toughest challenges ahead.

☆ Stocks making the biggest moves midday: Apple, Manchester United, Activision Blizzard and more
▼ + stars: | 2022-11-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. Apple — Apple's stock shed 2% on Friday after protests occurred at the iPhone maker's major Foxconn supplier in China earlier this week. Activision Blizzard – Shares of the video game company slid more than 4% after Politico reported the Federal Trade Commission is likely to sue to block Microsoft's $69 billion acquisition of Activision Blizzard. Manchester United — Manchester United's stock surged 12.8%, building on this week's earlier gains following news that the soccer team's owners are weighing a potential sale. Canoo – The electric vehicle company's stock price traded 4.6% higher after a Securities and Exchange Commission filing revealed that CEO Tony Aquila purchased shares.

☆ Turkish central bank warns lenders against FX transactions during 'off hours,' other issues -letter
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +1 min

ANKARA, Oct 31 (Reuters) - Turkey's central bank sent a letter to local lenders on Monday, warning them against conducting forex transactions with foreign banks during "off hours" and offering deposits with very high interest rates to avoid bond holding requirements. The central bank has introduced rules in recent months to reduce the gap between the policy rate and lending rates and encourage loans to sectors including exports and production. Such issues are "not supportive of establishing financial stability," the central bank said, adding that lenders should make the maximum effort to abide by regulations. The central bank had already warned banks last week about conducting forex sale-purchase transactions overnight, saying it will take "necessary measures" if the issue continues. In the past, if central bank requests on various issues have not been followed, it has taken measures such as requiring banks to hold government bonds.

☆ Jack Dorsey just saved Elon Musk about $1 billion by rolling over his shares of Twitter into a stake in the new private company
▼ + stars: | 2022-10-31 | by ( Kali Hays | ) www.businessinsider.com time to read: +2 min

Dorsey rolled over his Twitter shares on Oct. 27, the same day Musk's acquisition was finalized. The value of Dorsey's roughly 18 million shares is a little over $1 billion, according to the filing. Although it was rumored Dorsey would invest in Musk's takeover of Twitter, he had yet to confirm any plans to do so or rollover his shares. According to the filing, Dorsey agreed to the rollover back in April, when Musk signed the merger agreement with Twitter. Dorsey formally rolled his shares on Thursday, the same day Musk officially became the owner of Twitter.

☆ Pot producer Canopy sets up holding entity for speedy U.S. market entry
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

The pot producer will not right away benefit from the transactions as weed remains federally illegal and Canadian companies that grow or sell marijuana cannot do so in the United States. read moreIn anticipation of the changes, Canopy on Tuesday outlined a complex holding company structure to set up Canopy USA LLC. Canopy USA will now skip the wait and take over the firm right away, it said. Canopy USA will also take over Wana and Jetty, streamlining ownership. Constellation could still choose not to convert its stake, in which case Canopy USA will not proceed with these deals.

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