By Luc Cohen and Jonathan Stempel NEW YORK A U.S. judge on Wednesday tightened Sam Bankman-Fried's bail conditions

MILAN Italy's biggest bank, Intesa Sanpaolo, on Wednesday said it would increase non-distributable reserves by 2.07 billion euros

By Maki Shiraki and Rocky Swift TOKYO Chinese group tours are back in Japan but anyone banking on

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.

SHANGHAI China's major state-owned banks were seen actively mopping up offshore yuan liquidity on Monday, three people with

(Reuters) -Elon Musk has said his X social media platform will fund the legal bills of people who have been

NEW YORK Bond trading platform Tradeweb is in talks with clients, industry groups and other market participants about

French President Emmanuel Macron is urging European nations to seek more independence on airspace defense

US tobacco giant Philip Morris International is fighting to get Britain, France and other countries to make it easier to promote alternatives to cigarettes such...

By Andrea Shalal and David Lawder MARRAKECH, Morocco Global finance leaders' paralysis in addressing the fallout from the

The weakness of the yen has helped Japanese exporters as it makes their products cheaper overseas.

SoftBank Group Corp.’s Vision Fund eked out its first profit in more than a year, thanks to a