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Musk tweets 'Love Me Tender' days after Twitter takeover offer

Twitter on Friday adopted a "poison pill" to limit Musk's ability to raise his stake in the company

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Musk tweets 'Love Me Tender' days after Twitter takeover offer
GNN Media: Representational Photo

Billionaire entrepreneur Elon Musk posted a tweet on Saturday saying "Love Me Tender", days after he took aim at Twitter Inc (TWTR.N) with a $43 billion cash takeover offer.

After Musk's TED talk on Thursday, he hinted at the possibility of a hostile bid in which he would bypass Twitter's board and put the offer directly to its shareholders, tweeting: "It would be utterly indefensible not to put this offer to a shareholder vote".

Over the weekend Musk, already the San Francisco-based company's second-largest shareholder after amassing a 9.1% stake in the social media firm, tweeted Twitter board's "economic interests are simply not aligned with shareholders".

Twitter on Friday adopted a "poison pill" to limit Musk's ability to raise his stake in the company.

Thoma Bravo, a technology-focused private equity firm that had more than $103 billion in assets under management as of the end of December, informed Twitter that it was exploring the possibility of putting together a bid, people familiar with the matter told Reuters on Friday.

 

 

SOURCE: REUTERS

Pakistan

Polling for first phase of LG polls in 14 districts of Sindh underway

The polling begins at 8:00 am and will continue till 5:00 p.m. without any break.

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Polling for first phase of LG polls in 14 districts of Sindh underway

Hyderabad: Polling for the first phase of Local Government elections in fourteen districts of Sindh is underway.

According to details, the local government elections are being held in Umarkot, Tharparkar, Shaheed Benazirabad, Sanghar, Naushehro Feroze, Larkana, Kanbar- ShahdadKot, Shikarpur, Jacobabad, Kahmor, Sukkur, Ghoki and, Khairpur.

The polling will continue till five in the evening without any break.

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Business

AJK govt presents Rs 163.7 billion budget

The development budget has been increased by Rs. 2 billion as compared to the previous financial year.

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AJK govt presents Rs 163.7 billion budget

Mirpur: The government of Azad Jammu & Kashmir Saturday presented its maiden budget with an estimated outlay of Rs.163.7 billion for the next financial year 2022-23.

In the budget, an amount of Rs.135.2 billion has been allocated for recurring expenditure whereas a chunk of Rs. 28.5 billion has been allocated for development expenditure.

The development budget has been increased by Rs. 2 billion as compared to the previous financial year.

The budget proposes a 15 percent Disparity Reduction Allowance, an increase in the revised pay scale, and a 15 percent increase for pensioners.

The development budget includes Rs1.8 billion for public health, Rs 2.17 billion for education, and 12 billion for communication.

Presenting the budget for the financial year 2022-23 in the Azad Jammu Kashmir Legislative Assembly which met in the State metropolis on Saturday, the AJK Finance Minister Abdul Majid Khan said that the total expenditure for the next financial year has been estimated at Rs 135.20 billion.

He said that total development expenditure was estimated at Rs 28.50 billion.

Moreover, the minister said that an amount of 500 million has been proposed in terms of foreign aid.

Revised budget for the financial year 2021-22, amounting to 135.7 billion was also presented in the legislative assembly.

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World

Morocco: 27 migrants die in stampede to enter Spain’s Melilla

The incident at the border crossing was the first since Spain and Morocco boosted their bilateral cooperation after Madrid decided to support Rabat’s position on the independence of Western Sahara. 

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Morocco: 27 migrants die in stampede to enter Spain’s Melilla

Moroccan authorities said that 27 migrants were killed and dozens of migrants and police officers were injured in a “stampede” of people trying to cross into the Spanish North African enclave of Melilla.

According to the Moroccan Association for Human Rights (AMDH), the death toll of migrants who died trying to cross from Morocco into the Spanish enclave of Melilla rose to 27 today (June 25). 

On Friday, around 2,000 migrants—many from Sudan—tried to cross the militarized border fence.

At first, five people were reported dead, but later, Moroccan authorities raised the figure to 18. 

“The victims of the tragedy in Melilla agonized for hours under the cruel gaze of those who were supposed to help them and did not do so,” tweeted founder of Walking Borders Helena Maleno Garzon, who also confirmed the report of 27 dead.

Spanish officials said 49 Civil Guards sustained minor injuries while four police vehicles were damaged by rocks thrown by some migrants. 

Videos from the Moroccan side of the border show what appear to be dead bodies and people with severe injuries strewn out on the ground without receiving medical attention. 

Other images show hundreds of people, some with clear injuries, lying in a pile on the ground with their hands tied behind their backs.

Moroccan police used tear gas to disperse those trying to climb the border fence.

Following the horrific incident, several NGOs are calling for an immediate investigation into the treatment of migrants. 

The incident at the border crossing was the first since Spain and Morocco boosted their bilateral cooperation after Madrid decided to support Rabat’s position on the independence of Western Sahara. 

Spanish Prime Minister Pedro Sanchez on Friday applauded the “extraordinary work of the Moroccan government in coordination with Spain to try to stop a violent assault, which was, in this case, well resolved.”

Last year, Moroccan authorities stood passively by as thousands swam into the Spanish enclave of Ceuta amid a diplomatic spat over Spain treating the separatist leader of Western Sahara for coronavirus.

According to Spanish authorities, just 133 people managed to reach Spain during Friday’s border crossing attempt. 

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