US Business

Pioneering rocker Jerry Lee Lewis dead at 87

Jerry Lee Lewis, a scandal-generating kingpin of 1950s American rock and roll who played a pivotal role in shaping the genre’s sound, died on Friday. He was 87 years old.

Famous for his flowing blond locks, rowdy piano beats and outrageous stage presence, the star best known for his classic “Great Balls of Fire” died of natural causes, his publicist told AFP.

“He is ready to leave,” an accompanying statement quoted the artist’s wife Judith as saying.

The statement said Lewis suffered years of illnesses and injuries: “He had abused his body so thoroughly as a young man he was given little chance of lasting through middle age, let alone old age,” it read.

A friend and rival of Elvis Presley, Lewis’s career spanned more than half a century and produced a wealth of eyebrow-raising stories about his numerous wives — including a teenage cousin — drunken rampages and run-ins with the government over back taxes.

It also produced a string of indelible hits.

Born on September 29, 1935, in Ferriday, Louisiana, Lewis took to the keys at age nine. The following year, his parents Elmo and Mamie mortgaged the family farm to buy him an upright piano.

Along with his cousins Mickey Gilley and Jimmy Swaggart — who would respectively go on to become an award-winning country musician and a scandal-tainted evangelist — Lewis spent hours perfecting his craft.

– Provocative lyrics  –

In 1956, Lewis struck out for Memphis, Tennessee — the southern American city famous as a cradle of soul, blues and rock — to link up with the producer Sam Phillips at Sun Records, who was instrumental in Presley’s astronomical rise.

Lewis, Presley and Johnny Cash got together with Carl Perkins at the studio for the “Million Dollar Quartet” jam session that year, which was released much later to acclaim.

Lewis soared to fame the next year with his breakout hit “Whole Lotta Shakin’ Goin’ On” — whose provocative lyrics shocked some radio stations that at first refused to play it.

“It was just another song to me,” he told The New York Times in 2006. “The girls went a little berserk, but that’s girls for you.”

– ‘The Killer’ –

His follow up, “Great Balls of Fire,” remains one of the best-selling singles of all time, and was also the name of a 1989 docudrama about Lewis starring actor Dennis Quaid.

By the summer of 1958, Lewis — nicknamed “The Killer” — was rocketing to the top, with fans packing shows, money flowing in, and a third hit, “Breathless,” climbing the charts.

In an era when even the slightest lower body gyration by Presley caused a sensation, Lewis carried it further, thumping on the keys with hands and feet, and leaping atop his grand piano to squeals of delight.

“Who would have thought it would be me?” the publicist’s statement quoted the rocker as saying in his final days.

Lore has that Lewis even lit his piano on fire in an attempt to outshine guitarist Chuck Berry, who had snagged the closing slot that same night.

Elton John tweeted that without Lewis “I wouldn’t have become who I am today,” calling him a “trailblazing inspiration.”

“He was groundbreaking and exciting, and he pulverized the piano.”

– Scandal –

It all came crashing down, however, in 1958 when Lewis embarked on a tour of Britain — and the press there discovered he had married his 13-year-old second cousin Myra Gale Brown.

“I knew it was bad, I knew it was wrong,” Lewis later told The Washington Post.

His stateside return also proved a rude awakening, as Lewis found himself blacklisted from radio and television.

He headed out on the road for one-night shows in bars and minor clubs.

“From 10,000 dollars a night to 250 dollars is a hell of a disappointment,” Lewis said.

For most of the 1960s, Lewis was on the margins, eclipsed by the next generation like The Beatles, as his illicit marriage would forever tarnish his legacy. 

But he remained an inspiration to his celebrity successors.

When they met in the early 1970s, John Lennon knelt down to kiss Lewis’ feet, telling him: “You are the man who made it possible for me to be a star in rock-n-roll music.”

“I just kind of froze,” Lewis told GQ of the moment.

– Musical legacy –

Lewis jumped over to country music, searching for a fresh start. He also re-recorded some of his classic tunes.

In 1986, he was part of the first class inducted into the Rock and Roll Hall of Fame, alongside fellow greats including Presley, Berry, James Brown and Ray Charles.

He received a Grammy Award for lifetime achievement in 2005.

Late in life, he collaborated with Mick Jagger and Eric Clapton on his studio albums.

“Your songs lit up my life!” tweeted Jagger.

Lee’s personal life continued to prove concerning and stormy. After 14 years of marriage to Myra, who accused the singer of physical and  mental abuse, the couple divorced.

Married twice before Myra, Lewis wedded four times after. He had six children. One died in a swimming pool accident as a toddler, and another died in a car accident.

In 1993, arguments with the US government over back taxes led officials to seize pianos, furniture and other personal items to cover his debt. 

A notorious hard drinker, Lewis at times was addicted to prescription pills.

He toured extensively late in life, though a stroke in 2019 curtailed his schedule.

“When they look back on me, I want them to remember me not for all my wives, although I’ve had a few, and certainly not for any mansions or high living money,” Lewis said.

“I want them to remember me simply for my music.”

Poland picks US firm to build 1st nuclear power station: PM

Poland on Friday picked US firm Westinghouse to build its first nuclear power station, as the country bids to shore up its energy security at a time of soaring tensions with Russia over Ukraine.

Westinghouse beat rival bids from France’s EDF and South Korea’s KHNP for the multi-billion dollar (euro) deal, although Poland has held out the possibility of other nuclear tenders in the future.

“We confirm our nuclear energy project will use the reliable, safe technology of @WECNuclear,” Prime Minister Mateusz Morawiecki wrote on Twitter.

Morawiecki said the decision would be formally adopted at a cabinet meeting in Warsaw on Wednesday.

US Energy Secretary Jennifer Granholm hailed Poland’s announcement, tweeting: “This is a huge step in strengthening our relationship with Poland for future generations to come.

“I think it sends a clear message to Russia that the Atlantic alliance stands together to diversify our energy supply… and to resist Russian weaponisation of energy,” she said in a video.

Granholm said Poland had picked Westinghouse “for the first part of their $40bn nuclear project”, without specifying the amount of the investment.

A senior US government official speaking on condition of anonymity said only that the deal was valued in the “billions” and would create “thousands of good-paying jobs”.

“This is a huge deal because this is not just about a commercial energy project, it’s about the way we will define what I would call interdependent security for decades to come,” the official said.

– Online by 2033 –

The decision “sends an unmistakable message to (Russian President Vladimir) Putin about the strength and the meshing together of the US-Poland alliance,” the official added.

And US Secretary of State Antony Blinken said in a tweet he was “very pleased” about the deal to “help produce safe, clean, and reliable nuclear power”.

“The United States is proud to be Poland’s strong partner for energy and security,” Blinken tweeted.

Poland has been planning a civil nuclear energy capacity for years, but the issue of energy security has taken on added urgency because of Russia’s invasion of Ukraine.

Denmark, Norway and Poland last month unveiled a new pipeline that will carry Norwegian gas to Poland via Denmark after Russia cut off Warsaw’s supplies.

The Polish government has said it wants its first nuclear power station to go online in 2033.

It has selected the village of Choczewo near the Baltic coast as the site for the plant.

The first plant is planned to have three reactors and the government has said it expects to select a supplier to build three more reactors in the future.

“The second set (of 3 reactors) will be coming down the road at a date to be determined subject to a decision by the government of Poland and we anticipate that to be Westinghouse as well,” the US official said.

Musk seeks to soothe critics with Twitter content panel

Twitter formally became the private property of Elon Musk on Friday, steering the social media giant down an uncertain path under the stewardship of one of its most vocal critics.

Scrutiny quickly turned to how the platform will operate under a self-proclaimed free-speech absolutist who some users fear will turn Twitter into a global stage for hate speech and disinformation.

In a nod to such concerns, Musk’s first policy act was to tweet that he will form a “content moderation council” embracing “widely diverse viewpoints.”

“No major content decisions or account reinstatements will happen before that council convenes,” he said.

Musk’s sealing of the on-again, off-again $44 billion deal ended a months-long soap opera of corporate chicanery, involving insults, threats and lawsuits.

“The bird is free,” tweeted the billionaire Tesla founder and space pioneer in reference to the company’s logo. “Let the good times roll.”

The deal drew contrasting reactions, with former US president Donald Trump cheering the change of leadership on a platform that had banned him, while activists warned of a surge in harassment and misinformation.

European politicians were quick to signal to Musk that the continent had regulations for social media companies.

“In Europe, the bird will fly by our rules,” tweeted Thierry Breton, the EU internal market commissioner.

Musk had vowed to dial back content moderation and was expected to clear the way for Trump to return to the platform.

The then-president was blocked over concerns he would ignite more violence like the 2021 deadly attack on the US Capitol to overturn his election loss.

Taking to his own Truth Social platform, Trump said he was “very happy that Twitter is now in sane hands” — but gave no commitment to rejoin if allowed.

Far-right users were quick to rejoice at Musk’s ownership, posting comments such as “masks don’t work” and other taunts, under the belief that moderation rules would now be relaxed.

– ‘A huge responsibility’ –

Yale University philosophy professor Jason Stanley, who has characterized Trump’s rise as a sign of mounting fascism in the United States, said he would alter his approach to posting.

“For the moment I am staying on Twitter. But I am going to try to be much more careful about what I say now that Elon Musk is in charge. Cascading hate speech targeting can destroy your week,” he said.

Right-wing political commentator Ben Shapiro said he gained 40,000 Twitter followers Friday, while the actor Mark Hamill, a liberal, said he had lost almost 6,000 followers over the last three days.

Musk reportedly fired Twitter chief executive Parag Agrawal and other senior officials — though the company did not reply to a request for comment and Agrawal still listed himself as CEO on his Twitter profile.

But Ned Segal, Twitter’s chief financial officer since 2017, announced his departure.

“At its best, (Twitter) democratizes communication and knowledge, ensuring accountability and equal distribution of info,” Segal said.

“It’s a huge responsibility for everyone that shares in the work. I wish them strength, wisdom and foresight.”

Musk, who is using a combination of his own money, funds from wealthy investors and bank loans to finance the deal, has conceded he is overpaying for a company that has regularly posted eye-watering losses.

– How to monetize? –

Twitter says it has 238 million daily users — dwarfed by the likes of Facebook’s nearly two billion — and has not been able to monetize in the same way as its rivals.

However, it holds an outsized influence on public debate because it is the favored platform for many companies, politicians, journalists and other public figures.

Though he has vowed that Twitter will not become a “free-for-all hellscape,” Musk reportedly plans deep staff cuts that would gut teams that oversee content.

Despite Musk posting a letter to advertisers saying he wants Twitter to be a forum where rival viewpoints can be debated in a “healthy manner”, US auto giant General Motors said Friday it has “temporarily paused” paid ads on the platform.

“We are engaging with Twitter to understand the direction of the platform under their new ownership,” said a GM spokesman. 

Media watchdog Media Matters for America sounded the alarm over the future of a Musk-led Twitter, particularly the impact on imminent US midterm elections.

The platform “is now on a glide path to becoming a supercharged engine of radicalization” and a “fever swamp of dangerous conspiracy theories, partisan chicanery, and operationalized harassment,” the organization’s head Angelo Carusone said.

The closure of the deal marked the finale of a long back-and-forth between the billionaire and the social network that had culminated in a Twitter lawsuit seeking to hold Musk to the transaction agreement.

Musk seeks to soothe critics with Twitter content panel

Twitter formally became the private property of Elon Musk on Friday, steering the social media giant down an uncertain path under the stewardship of one of its most vocal critics.

Scrutiny quickly turned to how the platform will operate under a self-proclaimed free-speech absolutist who some users fear will turn Twitter into a global stage for hate speech and disinformation.

In a nod to such concerns, Musk’s first policy act was to tweet that he will form a “content moderation council” embracing “widely diverse viewpoints.”

“No major content decisions or account reinstatements will happen before that council convenes,” he said.

Musk’s sealing of the on-again, off-again $44 billion deal ended a months-long soap opera of corporate chicanery, involving insults, threats and lawsuits.

“The bird is free,” tweeted the billionaire Tesla founder and space pioneer in reference to the company’s logo. “Let the good times roll.”

The deal drew contrasting reactions, with former US president Donald Trump cheering the change of leadership on a platform that had banned him, while activists warned of a surge in harassment and misinformation.

European politicians were quick to signal to Musk that the continent had regulations for social media companies.

“In Europe, the bird will fly by our rules,” tweeted Thierry Breton, the EU internal market commissioner.

Musk had vowed to dial back content moderation and was expected to clear the way for Trump to return to the platform.

The then-president was blocked over concerns he would ignite more violence like the 2021 deadly attack on the US Capitol to overturn his election loss.

Taking to his own Truth Social platform, Trump said he was “very happy that Twitter is now in sane hands” — but gave no commitment to rejoin if allowed.

Far-right users were quick to rejoice at Musk’s ownership, posting comments such as “masks don’t work” and other taunts, under the belief that moderation rules would now be relaxed.

– ‘A huge responsibility’ –

Yale University philosophy professor Jason Stanley, who has characterized Trump’s rise as a sign of mounting fascism in the United States, said he would alter his approach to posting.

“For the moment I am staying on Twitter. But I am going to try to be much more careful about what I say now that Elon Musk is in charge. Cascading hate speech targeting can destroy your week,” he said.

Right-wing political commentator Ben Shapiro said he gained 40,000 Twitter followers Friday, while the actor Mark Hamill, a liberal, said he had lost almost 6,000 followers over the last three days.

Musk reportedly fired Twitter chief executive Parag Agrawal and other senior officials — though the company did not reply to a request for comment and Agrawal still listed himself as CEO on his Twitter profile.

But Ned Segal, Twitter’s chief financial officer since 2017, announced his departure.

“At its best, (Twitter) democratizes communication and knowledge, ensuring accountability and equal distribution of info,” Segal said.

“It’s a huge responsibility for everyone that shares in the work. I wish them strength, wisdom and foresight.”

Musk, who is using a combination of his own money, funds from wealthy investors and bank loans to finance the deal, has conceded he is overpaying for a company that has regularly posted eye-watering losses.

– How to monetize? –

Twitter says it has 238 million daily users — dwarfed by the likes of Facebook’s nearly two billion — and has not been able to monetize in the same way as its rivals.

However, it holds an outsized influence on public debate because it is the favored platform for many companies, politicians, journalists and other public figures.

Though he has vowed that Twitter will not become a “free-for-all hellscape,” Musk reportedly plans deep staff cuts that would gut teams that oversee content.

Despite Musk posting a letter to advertisers saying he wants Twitter to be a forum where rival viewpoints can be debated in a “healthy manner”, US auto giant General Motors said Friday it has “temporarily paused” paid ads on the platform.

“We are engaging with Twitter to understand the direction of the platform under their new ownership,” said a GM spokesman. 

Media watchdog Media Matters for America sounded the alarm over the future of a Musk-led Twitter, particularly the impact on imminent US midterm elections.

The platform “is now on a glide path to becoming a supercharged engine of radicalization” and a “fever swamp of dangerous conspiracy theories, partisan chicanery, and operationalized harassment,” the organization’s head Angelo Carusone said.

The closure of the deal marked the finale of a long back-and-forth between the billionaire and the social network that had culminated in a Twitter lawsuit seeking to hold Musk to the transaction agreement.

Apple rally fuels tech share turnaround, lifting US stocks

Tech shares were back on their front foot Friday following solid Apple results, boosting the Nasdaq nearly three percent and adding to weekly gains.

Apple, the biggest company in terms of market value, soared nearly eight percent after reporting higher profits despite lower-than-expected iPhone sales. 

Apple’s surge helped offset a comparable drop in Amazon shares on a disappointing holiday-quarter forecast and added to buying momentum on Wall Street following a mixed day in global bourses and a drop in oil prices.

“The stock market showed impressive resilience today,” observed Briefing.com after the Dow’s sixth straight positive session.

The gains by Apple helped prompt an advance by large tech companies like Microsoft and Google parent Alphabet that were punished earlier in the week in a pullback that investors feared could mark a major negative turning point for tech giants.

Art Hogan, analyst at B. Riley Financial, said tech shares benefited Friday from an “oversold rebound,” adding that semiconductor shares were lifted by Facebook parent Meta’s plan to boost investment in the metaverse.

Stocks have also been boosted in recent sessions by hopes the Federal Reserve will soon moderate its policies to counter inflation.

Markets largely shrugged off a mixed US economic data that showed inflation lingering but also a jump in household spending. 

In Europe, Germany’s economy unexpectedly grew in the third quarter, but slowing growth in France and Spain added to fears that high inflation and an energy crisis will tip the region into recession.

“Today’s positive growth data is a welcome surprise. However, it does not mean that the German economy will be able to prevent a recession,” said ING economist Carsten Brzeski.

Elsewhere, the yen was down against the dollar after Japan’s Prime Minister Fumio Kishida said the country would spend $260 billion on a stimulus package to cushion the weak economy.

The yen has plunged to 32-year lows versus the dollar in recent weeks as Japan’s central bank refuses to hike interest rates despite sky-high inflation, fueled by soaring energy prices.

“The Japanese yen is once again the worst performer today after the Bank of Japan kept its monetary policy unchanged,” said market analyst Michael Hewson at CMC Markets.

– Key figures around 2040 GMT –

New York – Dow: UP 2.6 percent at 32,861.80 (close)

New York – S&P 500: UP 2.5 percent at 3,901.06 (close)

New York – Nasdaq: UP 2.9 percent at 11,102.45 (close)

London – FTSE 100: DOWN 0.4 percent at 7,047.67 (close) 

Frankfurt – DAX: UP 0.2 percent at 13,243.33 (close)

Paris – CAC 40: UP 0.5 percent at 6,273.05 (close)

EURO STOXX 50: UP 0.2 percent at 3,613.02 (close)

Tokyo – Nikkei 225: DOWN 0.9 percent at 27,105.20 (close)

Hong Kong – Hang Seng Index: DOWN 3.7 percent at 14,863.06 (close)

Shanghai – Composite: DOWN 2.3 percent at 2,915.93 (close)

Euro/dollar: UP at $0.9967 from $0.9965 on Thursday

Pound/dollar: UP at $1.1618 from $1.1567 

Dollar/yen: UP at 147.46 yen from 146.27 yen

Euro/pound: DOWN at 85.77 pence from 86.11 pence

West Texas Intermediate: DOWN 1.3 percent at $87.90 per barrel

Brent North Sea crude: DOWN 1.2 percent at $95.77 per barrel

burs-jmv/md

Apple rally fuels tech share turnaround, lifting US stocks

Tech shares were back on their front foot Friday following solid Apple results, boosting the Nasdaq nearly three percent and adding to weekly gains.

Apple, the biggest company in terms of market value, soared nearly eight percent after reporting higher profits despite lower-than-expected iPhone sales. 

Apple’s surge helped offset a comparable drop in Amazon shares on a disappointing holiday-quarter forecast and added to buying momentum on Wall Street following a mixed day in global bourses and a drop in oil prices.

“The stock market showed impressive resilience today,” observed Briefing.com after the Dow’s sixth straight positive session.

The gains by Apple helped prompt an advance by large tech companies like Microsoft and Google parent Alphabet that were punished earlier in the week in a pullback that investors feared could mark a major negative turning point for tech giants.

Art Hogan, analyst at B. Riley Financial, said tech shares benefited Friday from an “oversold rebound,” adding that semiconductor shares were lifted by Facebook parent Meta’s plan to boost investment in the metaverse.

Stocks have also been boosted in recent sessions by hopes the Federal Reserve will soon moderate its policies to counter inflation.

Markets largely shrugged off a mixed US economic data that showed inflation lingering but also a jump in household spending. 

In Europe, Germany’s economy unexpectedly grew in the third quarter, but slowing growth in France and Spain added to fears that high inflation and an energy crisis will tip the region into recession.

“Today’s positive growth data is a welcome surprise. However, it does not mean that the German economy will be able to prevent a recession,” said ING economist Carsten Brzeski.

Elsewhere, the yen was down against the dollar after Japan’s Prime Minister Fumio Kishida said the country would spend $260 billion on a stimulus package to cushion the weak economy.

The yen has plunged to 32-year lows versus the dollar in recent weeks as Japan’s central bank refuses to hike interest rates despite sky-high inflation, fueled by soaring energy prices.

“The Japanese yen is once again the worst performer today after the Bank of Japan kept its monetary policy unchanged,” said market analyst Michael Hewson at CMC Markets.

– Key figures around 2040 GMT –

New York – Dow: UP 2.6 percent at 32,861.80 (close)

New York – S&P 500: UP 2.5 percent at 3,901.06 (close)

New York – Nasdaq: UP 2.9 percent at 11,102.45 (close)

London – FTSE 100: DOWN 0.4 percent at 7,047.67 (close) 

Frankfurt – DAX: UP 0.2 percent at 13,243.33 (close)

Paris – CAC 40: UP 0.5 percent at 6,273.05 (close)

EURO STOXX 50: UP 0.2 percent at 3,613.02 (close)

Tokyo – Nikkei 225: DOWN 0.9 percent at 27,105.20 (close)

Hong Kong – Hang Seng Index: DOWN 3.7 percent at 14,863.06 (close)

Shanghai – Composite: DOWN 2.3 percent at 2,915.93 (close)

Euro/dollar: UP at $0.9967 from $0.9965 on Thursday

Pound/dollar: UP at $1.1618 from $1.1567 

Dollar/yen: UP at 147.46 yen from 146.27 yen

Euro/pound: DOWN at 85.77 pence from 86.11 pence

West Texas Intermediate: DOWN 1.3 percent at $87.90 per barrel

Brent North Sea crude: DOWN 1.2 percent at $95.77 per barrel

burs-jmv/md

What will Elon Musk's Twitter look like?

After months of controversy, Elon Musk is now at the head of one of the most influential social networks on the planet, whose “tremendous potential” he has promised to unleash.

What changes can we expect for the platform from the multi-billionaire chief executive of Tesla and founder of SpaceX?

– New boss –

One of Musk’s first decisions was to sack Twitter chief executive Parag Agrawal, chief financial officer Ned Segal and head of legal affairs Vijaya Gadde, according to several US media outlets.

The billionaire entrepreneur will have to find replacements for them.

“Musk is in the unenviable position of convincing seasoned executives to work for him at a platform that he has publicly disparaged,” said Jasmine Enberg, an analyst for Insider Intelligence.

According to Bloomberg, Musk will assume the role of CEO of Twitter, at least initially.

He’ll have to deal with concerned employees. Musk wants to cut the workforce by 75 percent (or about 5,500 employees), according to the Washington Post.

“The mood at Twitter is tense, with employees worried about layoffs,” said Enberg. “Product and even engineering teams could face a shakeup.”

– Freedom of speech –

A self-described “free speech absolutist,” Musk said on Thursday that he wants to turn Twitter into a platform that is “warm and welcoming to all” and not a “free-for-all hellscape.”

He has criticized what he sees as aggressive content moderation, which he contends results in the censorship of right and far-right voices.

“Experts we’ve spoken with have suggested around 600 people at Twitter itself and thousands more with third-party affiliations have worked on platform content moderation,” said Scott Kessler of Third Bridge.

“Musk has publicly advocated for these actions to be driven by algorithms instead of people,” he added.

The Tesla boss further hinted that former US president Donald Trump, who was suspended from the platform after the attack on Capitol Hill in early 2021, might be allowed to return.

Trump wrote on Friday on his own social network Truth Social that Twitter is “in good hands.”

One of Musk’s other pet peeves is the issue of fake accounts. He threatened to walk away from the deal over the inauthentic or “bot” accounts but has not revealed what he will do to fight them.

– ‘Unpalatable to advertisers’ –

Another challenge for Elon Musk is to improve the financial health of Twitter, which faces slow growth, even recording a net loss in the second quarter.

In April, Musk mentioned options to generate more revenue: boosting paid subscriptions, monetizing the dissemination of popular tweets or paying content creators.

In a letter published Thursday, the entrepreneur called on Twitter advertisers to work together to “build something extraordinary,” stressing the importance of welcoming a wide diversity of opinions on the platform.

“Mr. Musk has indicated in his latest publicity stunt that he wants to throw the kitchen sink at Twitter to attract new users,” noted Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown.

“But he is going to face a huge challenge of maintaining and building revenue, given that the controversial opinions he appears to want to give more of a free rein to in this ‘global town hall’ are often unpalatable to advertisers,” she said.

Some civic groups are also calling on major brands to use their influence to prevent Musk from providing a platform for the most radical speech.

“Considering that ads reportedly account for 90 percent of Twitter’s revenue, it is clear that the power to hold Musk accountable, if he rolls back the platform’s protections against harassment, abuse and disinformation, lies in the hands of Twitter’s top advertisers,” Media Matters for America, a nonprofit watchdog group, argued.

What will Elon Musk's Twitter look like?

After months of controversy, Elon Musk is now at the head of one of the most influential social networks on the planet, whose “tremendous potential” he has promised to unleash.

What changes can we expect for the platform from the multi-billionaire chief executive of Tesla and founder of SpaceX?

– New boss –

One of Musk’s first decisions was to sack Twitter chief executive Parag Agrawal, chief financial officer Ned Segal and head of legal affairs Vijaya Gadde, according to several US media outlets.

The billionaire entrepreneur will have to find replacements for them.

“Musk is in the unenviable position of convincing seasoned executives to work for him at a platform that he has publicly disparaged,” said Jasmine Enberg, an analyst for Insider Intelligence.

According to Bloomberg, Musk will assume the role of CEO of Twitter, at least initially.

He’ll have to deal with concerned employees. Musk wants to cut the workforce by 75 percent (or about 5,500 employees), according to the Washington Post.

“The mood at Twitter is tense, with employees worried about layoffs,” said Enberg. “Product and even engineering teams could face a shakeup.”

– Freedom of speech –

A self-described “free speech absolutist,” Musk said on Thursday that he wants to turn Twitter into a platform that is “warm and welcoming to all” and not a “free-for-all hellscape.”

He has criticized what he sees as aggressive content moderation, which he contends results in the censorship of right and far-right voices.

“Experts we’ve spoken with have suggested around 600 people at Twitter itself and thousands more with third-party affiliations have worked on platform content moderation,” said Scott Kessler of Third Bridge.

“Musk has publicly advocated for these actions to be driven by algorithms instead of people,” he added.

The Tesla boss further hinted that former US president Donald Trump, who was suspended from the platform after the attack on Capitol Hill in early 2021, might be allowed to return.

Trump wrote on Friday on his own social network Truth Social that Twitter is “in good hands.”

One of Musk’s other pet peeves is the issue of fake accounts. He threatened to walk away from the deal over the inauthentic or “bot” accounts but has not revealed what he will do to fight them.

– ‘Unpalatable to advertisers’ –

Another challenge for Elon Musk is to improve the financial health of Twitter, which faces slow growth, even recording a net loss in the second quarter.

In April, Musk mentioned options to generate more revenue: boosting paid subscriptions, monetizing the dissemination of popular tweets or paying content creators.

In a letter published Thursday, the entrepreneur called on Twitter advertisers to work together to “build something extraordinary,” stressing the importance of welcoming a wide diversity of opinions on the platform.

“Mr. Musk has indicated in his latest publicity stunt that he wants to throw the kitchen sink at Twitter to attract new users,” noted Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown.

“But he is going to face a huge challenge of maintaining and building revenue, given that the controversial opinions he appears to want to give more of a free rein to in this ‘global town hall’ are often unpalatable to advertisers,” she said.

Some civic groups are also calling on major brands to use their influence to prevent Musk from providing a platform for the most radical speech.

“Considering that ads reportedly account for 90 percent of Twitter’s revenue, it is clear that the power to hold Musk accountable, if he rolls back the platform’s protections against harassment, abuse and disinformation, lies in the hands of Twitter’s top advertisers,” Media Matters for America, a nonprofit watchdog group, argued.

Twitter: Influential network with a relatively limited audience

Purchased by Elon Musk for $44 billion, Twitter is popular with politicians, journalists and celebrities, but the social media giant draws a smaller user base than some competitors, including Facebook. 

– Less than Facebook –

At the end of the second quarter, Twitter counted nearly 238 million daily active users on the platform — a figure overshadowed by the some 1.98 billion claimed by Facebook. 

Adding Instagram, WhatsApp and Messenger, Facebook-parent Meta nears some three billion daily users. 

Twitter is also surpassed by platforms like Pinterest, with 445 billion monthly users, and Snapchat, with 363 million daily users.

TikTok, owned by the unlisted Chinese group ByteDance, does not disclose its user numbers. 

In September 2021, however, the short video app said it had passed the one billion user mark worldwide.

– Obama, Bieber… and Musk –

Former US president Barack Obama has the most popular account on Twitter, with 133.5 million followers.

He is ahead of Canadian singer Justin Bieber, who has 113.8 million followers. 

Musk, boss of Tesla and founder of SpaceX, and now the owner of Twitter, completes the podium with 110.6 million followers. 

US singer Katy Perry is the most followed woman on the network, with 108.9 followers. 

Donald Trump had some 89 million followers before he was banned from the platform shortly after the January 6, 2021, assault on the US capital led by his supporters.

He faced accusations he had used social media to incite his followers to use force in a bid to overturn the result of the 2020 US presidential election.

Musk has hinted that his account could be reactivated.

– Limited growth –

Financially speaking, Twitter is not in the same league as its big rivals either.

The California-based group had revenues of $1.2 billion from April to June, down one percent year-over-year and nearly 25 times lower than Meta.

It also fell into the red with a net loss of $270 million.

According to the Washington Post, Musk plans to eventually lay off almost 75 percent of Twitter’s 7,500 employees.

Twitter’s second quarter results could be the last to be made public.

Musk has said he wants to delist the company from the New York Stock Exchange, which would put an end to its obligation to disclose information about its financial health to the public.

It's official: Rihanna returns to music with 'Lift Me Up'

After six years without releasing a solo song Rihanna on Friday dropped “Lift Me Up,” the lead track off the Marvel sequel “Black Panther: Wakanda Forever.”

The 34-year-old — who’s spent her time away from the recording studio launching high-fashion collections, a lingerie line, a makeup brand, becoming a billionaire and having a baby — warmly delivers the lullaby-esque ballad over soft strings and murmurs of a choir.

Her label said the song is a tribute to Chadwick Boseman, who played the title character in the first “Black Panther” film and died of cancer last year.

The film’s soundtrack is set for release November 4, with the movie slated to hit theaters on November 11.

It’s the first solo new music from the hitmaker behind “Diamonds” and “Umbrella” since 2016’s album “Anti.”

Rihanna’s fierce fan base has been clamoring for her ninth album, which she has said will be “reggae-infused” and has hinted since 2019 is nearly finished.

Rumors have swirled that it might be inching towards release since the NFL announced the Barbadian-born artist would be headlining the coveted Super Bowl halftime show in February, a long-awaited return to the stage for the pop phenom.

Rihanna for years has focused on other ventures, including becoming the first Black woman to head a fashion house for the French powerhouse LVMH, which owns legacy brands including Fendi and Givenchy.

She welcomed her first child with rapper A$AP Rocky in May.

The pair stepped out in public this week at the “Black Panther” sequel premiere in Los Angeles, strutting the red carpet in coordinated Rick Owens outfits.

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