Business

CNN reports: In the week since Elon Musk took over Twitter, the number of people signing up for a small social network called Mastodon has surged. You may not have heard of Mastodon, which has been around since 2016, but now it’s growing rapidly. Some are fleeing Twitter for it or at least seeking out a second place to post …

The Daily Beast reports: Elon Musk is threatening to “name and shame” advertisers who have hit pause on Twitter while his takeover of the social media platform sows chaos. The idea, apparently, is that Musk’s fans would boycott those companies until they agree to start funneling ad bucks to Twitter again. The billionaire’s vow seems unlikely to calm corporate jitters …

From the Justice Department: An indictment was unsealed today in Miami charging two Florida men for their roles in a scheme to defraud investors of Helios & Matheson Analytics Inc. (HMNY), a publicly traded Florida- and New York-based company that was the parent of MoviePass Inc. (MoviePass). According to court documents, Theodore Farnsworth, 60, of Miami, and J. Mitchell Lowe, …

The Insider reports: Elon Musk joked about overpaying for Twitter during a surprise appearance at a conference for wealthy people in New York City as his new social media company started mass layoffs. Speaking at the Baron Investment Conference, an annual extravaganza for well-heeled clients of Baron Capital, the billionaire entrepreneur admitted that he paid too much for the social …

The Verge reports: Elon Musk has now purged roughly half of Twitter’s 7,500 employee base, leaving whole teams totally or near-completely gutted, including those tasked with defending against election misinformation ahead of the US midterms next week, The Verge has learned. The areas of Twitter impacted the most by Musk’s cuts include its product trust and safety, policy, communications, tweet …

The Independent reports: Elon Musk took to Twitter to publicly air his grievances against so-called “activists” drawing advertisers away from his newly purchased social media platform, who he claimed were cutting into the company’s bottom line. Mr Musk’s venting arrives as a wave of progressive leaders and celebrities have raised concerns about the potential for abuse on the platform under …

The New York Times reports: Elon Musk will begin laying off Twitter employees on Friday, according to a companywide email, culling the social media service’s 7,500-person work force a little over a week after completing his blockbuster buyout. Twitter employees were notified in the email that the layoffs were set to begin, according to a copy of the message seen …

CBS News reports: Vonage will pay $100 million to settle claims it trapped customers in unwanted accounts by forcing people to call to cancel, keeping them on hold for hours and charging hundreds of dollars to end service, government regulators said Thursday. The New Jersey-based company, which provides internet-based phone services, made it easy for customers to sign up for …

The Wall Street Journal reports: Food company General Mills, Oreo maker Mondelez International, Pfizer, Volkswagen, and Audi are among a growing list of brands that have temporarily paused their Twitter advertising in the wake of the takeover of the company by Elon Musk, according to people familiar with the matter. Some advertisers are concerned that Mr. Musk could scale back …

CNN reports: Two Black radio hosts in Arizona could be a potential roadblock if Kanye West ever decided to sell his “White Lives Matter” T-shirts in the United States. Ramses Ja and Quinton Ward, hosts of the weekly racial justice radio show Civic Cipher, became the legal owners of the phrase’s trademark for its use on clothing late last month. …

AM New York reports: A Texas startup is hoping to zoom into New York’s aerial tourism business by letting customers fly personal, ultralight helicopter-like craft over city airspace — with no pilot’s license and less than an hour of training. Austin-based LIFT Aircraft has partnered with Charm Aviation, a local heli-tour company, on a proposal to bring personal electric vertical …

Axios reports: Musk’s first days as Twitter CEO have such a familiar feel because the world’s richest man is leading his new company from the same playbook Trump used as he tried to change the U.S. government’s direction after his 2017 inauguration: Rely on an inner circle chosen for loyalty more than expertise; seize and hold the public’s attention by …

Bloomberg News reports: Elon Musk plans to eliminate about 3,700 jobs at Twitter Inc., or half of the social media company’s workforce, in a bid to drive down costs following his $44 billion acquisition, according to people with knowledge of the matter. Twitter’s new owner aims to inform affected staffers Friday, said the people, who requested anonymity discussing non-public plans. …

USA Today reports: This year marks the 25th anniversary of Starbucks holiday cups, introduced in 1997. The company will unveil four new cups to kick off the holiday season. “We have always talked about the cups as little gifts, and we hope they feel like a festive present to our customers and store partners,” said Starbucks creative director Gary Jacobson …

Motherboard reports: Nudity is back on Tumblr—but only the not-horny kind. In a company announcement on Tuesday, Tumblr staff wrote: “We now welcome a broader range of expression, creativity, and art on Tumblr, including content depicting the human form (yes, that includes the naked human form).” Notably, explicit content, such as sex acts or “content with an overt focus on …

The Daily Beast reports: Elon Musk vowed early Wednesday that Twitter would not allow any banned accounts back on the site for weeks, meaning that Donald Trump and others will not return to the platform ahead of the midterm elections on Nov. 8. Musk, who completed his $44 billion takeover of Twitter last week, said he is building a content …

Business Insider reports: In response to Elon Musk’s takeover of Twitter, 40 justice organizations and media watchdog groups on Tuesday sent a letter to top advertisers on the social platform, urging them to push Musk to embrace content moderation or boycott Twitter entirely. “We, the undersigned organizations, call on you to notify Musk and publicly commit that you will cease …

Reuters reports: CVS Health Corp, Walgreens Boots Alliance Inc, and Walmart Inc have tentatively agreed to pay about $13.8 billion to resolve thousands of U.S. state and local government lawsuits accusing the chains of mishandling opioid painkillers, according to two people familiar with the negotiations. The proposed settlement calls for CVS to pay $5 billion over 10 years, Walgreens to …

CNN Business reports: After facing criticism for his plan to charge Twitter users $19.99 a month to get or keep a verified account, Elon Musk has a counteroffer. Musk on Tuesday said he planned to charge $8 a month for Twitter’s subscription service, called “Twitter Blue,” with the promise to let anyone pay to receive a coveted blue check mark …

ProPublica reports: In the aftermath of the Jan. 6, 2021 attack on the U.S. Capitol, more than 100 major companies pledged to suspend political giving to the members of Congress who voted to invalidate Joe Biden’s presidential victory. Since then, many have resumed funding this group of lawmakers, often with little to no explanation. ProPublica wanted to gauge corporate America’s …