China’s sportswear stocks have been in a funk amid the nation’s sluggish consumption recovery. Analysts say earnings results

TOKYO Japan's Mitsubishi Heavy Industries said on Wednesday it expects to double its defence revenue to about 1

Gas prices have suddenly jolted higher, as excessive heat and production caps have hurt supply.

Leaders of the BRICS emerging economies, which account for about a quarter of the world's wealth, meet in Johannesburg this week looking to widen the bloc's influence and push...

By Stella Qiu SYDNEY Sharath Mahendran, a 21-year-old student in Sydney, sees little hope he could ever afford

Bankrupt FTX Trading Ltd. is suing the former top compliance officer to the crypto empire, accusing the lawyer

If you like multiverse movies and groove to “The Flash” and the Spider-Verse films, there's lots of stuff to find if you dig deeper

Prime Minister Giorgia Meloni said she opposes having Italian lawmakers take up a revision of the euro area’s

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.

DULUTH, Ga.--(BUSINESS WIRE)--Sep 11, 2023--

China’s housing crisis has engulfed the country’s private developers, producing record waves of defaults and leaving a shrinking

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jun 1, 2023--