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Elon Musk has stopped buying Twitter. The company has already reacted and will sue the mogul if the deal falls through.

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Elon Musk has stopped buying Twitter.  The company has already reacted and will sue the mogul if the deal falls through.

News reports Associated Press Agency. The possible refusal of the owner of Tesla and Space X from buying the social network was already moving forward. Twitter shares tumbled Thursday after a Washington Post report that Musk’s $44 billion deal to buy the social network was in jeopardy.

The richest man in the world has previously expressed doubts and even hinted that he may refuse the deal, citing concerns about the abundance of fake accounts on the social network.

However, despite Musk’s reservations, pulling out of the deal could mean a €1 billion fine, which is the point of the deal.

Twitter has already said it will sue Elon Musk to enforce the deal to buy the company. “Twitter’s board of directors intends to close the deal at the price and terms agreed with Mr. Musk and plans to take legal action to enforce the merger agreement,” Bret Taylor wrote. “We believe that we will succeed,” said the president of the social network.

In early June, his legal team filed a document with the U.S. Securities and Exchange Commission accusing Twitter of committing a “clear material breach” of its “obligations under the merger agreement,” arguing that “Mr. Musk reserves the right to on non-completion of the transaction and on its right to terminate the merger agreement.

According to the letter, Musk has repeatedly made the request since May 9, a month after he submitted his proposal. The rationale for this request stems from the need to estimate how many of the 229 million accounts on the social network are fake.

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magnate already threatened to pull out of the deal in May if she doesn’t have guarantees regarding false invoices. “Yesterday, the CEO of Twitter publicly refused to provide evidence of less than 5% on the platform,” Musk wrote on the same social network. The mogul, with 94 million Twitter followers, commented on his demand to confirm that less than 5% of the social media accounts are fake. “The deal can’t go through until he does,” he added.

In response, Twitter CEO Parag Agrawal said the platform blocks more than half a million accounts that appear to be fake every day, often before they are even seen, and blocks millions of alleged users from accounts that are controlled by the software. Internal analysis shows that less than 5% of active accounts per day on average are classified as “spam,” but those accounts cannot be replicated by third parties due to privacy requirements, Agrawal said.

Musk, who claims that “bots” are a plague on Twitter and that he makes it his priority to get rid of them if he takes control of the platform, responded to Agrawal’s explanation on Twitter with an emoji representing a set of feces.

“So how do advertisers know what they’re getting for their money?” Musk asked in a later post about the need to prove that Twitter users are human. “This is critical to the financial health of Twitter,” he added.

Agrawal insisted that the procedure for counting the number of accounts that are “bots” be transferred to Musk.

Now, lawyers for the billionaire argue that Twitter only offered to provide details of the company’s testing practices, which is “equivalent to denying Mr. Musk’s requests for data.” At the same time, the social network resists the rights that Musk protects in business, to receive the information necessary to finalize it, protects its legal team.

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“This is a material breach of Twitter’s obligations under the merger agreement, and Mr. Musk reserves all rights, including the right to not complete the transaction and terminate the merger agreement,” the letter, which AP had access to, said.

At stake will be a clause where Musk reserves the right to withdraw from the agreement if there are “material adverse effects” caused by the company – something defined by any type of change that affects Twitter’s financial or business conditions.

According to an estimate released by software company SparkToro, 19.42% of Twitter accounts are fake or spam, although the company acknowledges that its methodology for identifying bots is likely different from that used by Twitter.

Otherwise, the SparkToro website has a tool that shows that more than 70% of Musk’s followers are fake accounts.

Since the offer, Musk has pledged to rid Twitter of spam, improve user authentication, and make the platform more transparent.

On the same day, Musk announced that his team would randomly select 100 users from official Twitter accounts to see if they were real or not.

Musk, the CEO of SpaceX and Tesla, is currently the richest person on the planet according to Forbes magazine, with an estimated net worth of $230 billion.

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Economy

Debt collected by Social Security to reach lowest in a decade in 2021 – ECO

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Debt collected by Social Security to reach lowest in a decade in 2021 - ECO





Debt collected by Social Security to reach lowest in a decade in 2021 – ECO































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Economy

TUGA offers new electric vehicles in three segments: from sports to trucks – Computers

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TUGA offers new electric vehicles in three segments: from sports to trucks - Computers

Based in Vancouver, Canada but co-founded by Portuguese Cesar Barbosa, TUGA Innovations is developing solutions for urban mobility. AT February showed its first working prototype of the TUGA electric car, but has now revealed its plans to develop a whole family of urban mobility solutions.whether for use by independent consumers or for operators with a fleet of commercial models.

The company says that based on market research, it has decided to change its strategy, highlighting TUGA Innovations’ ability to easily transform the functional design aspects of its base model. So it’s over several predefined vehicle configurations which, although sharing a few common design featurestarget different uses and customer needs, whether it is a focus on mobility, services or utilities.

TUGA Innovations offers three vehicle categories as well as proprietary component options such as retractable rear axle or retractable landing gear, which the company later says will be segmented to suit different market sectors..

See the various TUGA models in the gallery:

The first category is dedicated limited-edition high-performance cars that can transformsuch as removing the front windshield and rear bin to create the look of a roadster. They fit the TUGA Thunder and TUGA Falcon models.

The second group of vehicles includes TUGA Commuter and TUGA Deliver, which, in fact, are demonstration models of the manufacturer. They allow you to swap body parts that have now been redone with more safety components added.. Vehicles can also be purchased in a package called Mobility as a Service (MaaS) for functional integration into delivery fleets as well as daily commuting.

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Finally, the TUGA Cargo and TUGA Pickup models. expand your chassis to meet the needs of urban micrologistics. The vehicles have a capacity of 600 liters of cargo space in an 88 cm long model, combined with an extended 128 cm rear axle for added stability.

See prototype images in the gallery:

Regardless of category, the startup claims its entire family of vehicles has been designed to make transit and parking easier.. The retractable axle improves stability at high speeds, and the retractable chassis allows passengers to easily get inside the vehicle.

According to Cesar Barbosa, his startup creates not just a vehicle, but a solution to the problems of urban mobility. The project manager adds that since the presentation of the prototype, the family has expanded to offer different products and other features of its electric vehicles..

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Economy

Gas. Bottle sellers adjust prices

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Gás. Vendedores de garrafas corrigem preços

















Gas bottle sellers have adjusted prices that are not in line with government regulations limiting those values, said the National Energy Sector Organization (ENSE), which returned yesterday to review activity.

After conducting the first inspection on Tuesday, which found “high non-compliance” in 23.4% of outlets, the organization again carried out “108 inspection actions in Castelo Branco, Portalegre, Santarem, Evora and, in the municipalities of Cascais, Oeiras and Sintra in the Lisbon area, focusing on petrol stations, hypermarkets/supermarkets and other retail outlets.”

During this second check, ENSE found “seven violations (corresponding to 6.5% of the actions taken) in the selling prices (from 0.36 euros to 3.39 euros for T3 bottles and 6.92 euros for T5 bottles) of this type of product.” But he left a guarantee: “Of these actions, it was established mainly the correction of inappropriate prices, namely in relation to inflated amounts charged in several hypermarkets of the same brand.”

The maximum prices per bottle of liquefied petroleum gas (LPG) set by the government came into effect on Tuesday, saving almost 3.2 euros on a 13 kilograms (kg) bottle of butane.



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