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Musk puts Twitter deal ‘on hold’ over spam account report

Following the announcement, Twitter shares fell 25% in pre-market trading.

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Musk puts Twitter deal ‘on hold’ over spam account report
GNN Media: Representational Photo

Elon Musk has said his $44bn deal for Twitter is “temporarily on hold” due to the social media platform’s revelation that fewer than 5% of its monetizable daily active users are false or spam accounts. 

Elon Musk, after he queried the number of fake/spam accounts on the social media platform, said he was waiting for information "supporting [the] calculation that spam/fake accounts do indeed represent less than 5% of users".

Following the announcement, Twitter shares fell 25% in pre-market trading. 

Musk, the world's richest man and the chief executive of Tesla Inc, has been vocal on cleaning up fake accounts. He had earlier said that one of his priorities would be to remove "spam bots" from the platform. 

Twitter reported nearly two weeks ago that fake accounts accounted for less than 5% of its daily active users during the first three months of this year.

The billionaire is now examining that figure.  

Under the terms of the deal, if either Twitter or Musk walk away they must pay the other side a termination fee of $1bn.

Mehak Javed

Mehak Javed is immensely creative and an enthusiastic journalist, contributing in the publication of timely and accurate news. She is a skilled writer along proven history of achievement in the field with several years of professional experience. Mehak is working with GNN since 2020.

Regional

Punjab govt notifies summer vacations for schools from June 1

The Punjab School Education department announces two-month vacations

Published by Faisal Ali Ghumman

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Punjab govt notifies summer vacations for schools from June 1

Lahore: The Punjab government issued notification of summer vacations for school kids on Thursday.

All state and private schools will observe a two-month summer vacation from the beginning of next month.

The vacataions for private and public schools will begin on June 1 and continue till July 31, the Punjab School Education Department said in the notification.

The notication has also advised private schools to spare students at 11am from May 27 to May 31 in the wake of ongoing heatwave.

Similarly, summer vacation in all public and private educational institutions in Sindh will be observed from June 1 to July 31.

Public and private educational institutes in Balochistan's summer zone districts are observing summer vacation from May 15 to July 31.

In Khyber Pakhthunkhwa, summer vacation in the summer zone would be observed from June 1 to August 14 and in the winter zone from July 1 to July 31.

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Pakistan

SC dismisses govt’s contempt of court plea against Imran Khan

The government filed the plea against PTI this morning

Published by Siddra Sumreen

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SC dismisses govt’s contempt of court plea against Imran Khan

Islamabad: The Supreme Court of Pakistan has refused to take contempt of court action against PTI Chairman Imran Khan for violating the apex court’s orders during ‘Azadi March’.

The government filed the plea this morning after the PTI openly defied the apex court’s directives, announcing to hold a rally at D-Chowk in Islamabad’s prohibited Red Zone.

The SC formed a five-member larger bench, headed by Chief Justice Umar Ata Bandial, to hear the contempt of court plea At the outset of the hearing, Attorney-General of Pakistan Ashtar Ausaf read out the SC verdict before the court.

The court dismissed a petition filed by the federal government, saying that activists were not responsible as they act on the directives of party leadership. It also ordered the release of 20 activists who were booked for rioting and violence.

However, following the reports of violence and mayhem during the protest brought before the Court, the Court has now decided to issue a comprehensive order after pondering over the matter keeping in view the nature of assembly and association so that it can serve as a guideline to the practice of constitutional rights in future.

The Court observed that fundamental rights of assembly, association, and movement are not unlimited, but there are certain limits to them.     

At the outset of the hearing today, Attorney-General of Pakistan, Ashtar Ausaf Ali presented his submissions before the Court pointing out the violations of the Court's order by PTI.

He also mentioned before the court the breach of allowed venue and entering the D-Chowk by PTI workers, burning public property and trees, injuring the security forces personnel, and creating turmoil in the federal capital.

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Pakistan

Govt hikes per litre price of petrol and diesel by Rs30

New prices will go into effect at midnight

Published by Faisal Ali Ghumman

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Govt hikes per litre price of petrol and diesel by Rs30

Islamabad: The federal government Thursday announced hike in per litre price of petrol and diesel by Rs30 each.

The announcement came after the International Monetary Fund (IMF) emphasised abolishing the subsidies on the commodities.

Federal Finance Minister Miftah Ismail announed raise during a press conference.

In a tweet, the minister said: "Government has decided to increase the prices of Petrol, High Speed Diesel, Kerosene Oil and Light Diesel Oil by Rs 30 per litre from Friday May 27, 2022. New prices will go into effect at midnight. The new price of petrol will be Rs 179.86 & diesel will be Rs 174.15 per litre."

Petrol will now be available at Rs179.86, diesel Rs174.15, Kerosene oil Rs155.56 and Light diesel Rs148.31.

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