Category Archives: Business

Economy and business news. Business is the practice of making one’s living or making money by producing or buying and selling products (such as goods and services). It is also “any activity or enterprise entered into for profit.” A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired

US, China Vie for Africa Mobile Phone Sector

Africa, in recent years, has become the new frontier where China and the United States, the world’s two biggest economic superpowers, are competing for influence in a key industry: telecommunications.

This week, Ethiopia celebrated the launch of a 5G network powered by China’s telecom giant Huawei in Addis Ababa.

Just before that, on a visit to the continent last week, U.S. Deputy Secretary of State Wendy Sherman visited U.S. mobile company Africell’s offices in Angola, where the firm has amassed some 2 million users since it was launched just over a month ago.  

“Today in Luanda, I visited @AfricellAo, an innovative, state-of-the-art U.S. company expanding 5G access in Angola with trusted technology components,” she wrote in a tweet.

Asked in a subsequent press briefing whether the tweet wasn’t a dig at Huawei – which already has a huge digital foothold in Africa but which was sanctioned in the U.S. in 2019 by then-President Donald Trump – Sherman was unequivocal.  

“It’s not about throwing shade (being critical) on Huawei. We’ve been very direct. We believe that when countries choose Huawei, they are potentially giving up their sovereignty,” she said. “They are turning over their data to another country. They may find themselves bringing in a surveillance capability they didn’t even know was there.”  

Washington has long expressed concern that Beijing is trying to monopolize networks and possibly use them for espionage, while Huawei has repeatedly denied the allegations.  

“So, we’ve been very public about our concerns about Huawei, and so we are glad that Africell can provide to the people of Angola a safe, capable tool in their hands to reach out to the world,” Sherman added.  

The deputy secretary’s comments raised ire in Beijing, where they were met with a stiff rebuke from Foreign Ministry spokesman Zhao Lijian.  

“Chinese companies including Huawei have conducted mutually beneficial cooperation with many countries in Africa and the world beyond, contributed to the improvement and development of the countries’ communications infrastructure, provided advanced, quality, safe and affordable services for the local people and won great support,” he said on Chinese state media.  

“There is not a single case of cyber security accident, surveillance or wiretapping in the course of the cooperation,” he added, going on to allege that the U.S. has long been responsible for such spying activities itself.  

Zhao noted that it is up to African governments to decide with whom to cooperate.

In Angola, the company already has a significant presence, with mobile operator Unitel linked to Huawei, which is also building two technological training centers, worth $60 million, in the country in order to develop the digital economy.  

And with Huawei widely available in South Africa, only one of the five people VOA spoke to at a local shopping center was even aware of the controversy over the brand.  

Cheris Fourie, a sales consultant at a cellphone shop in Cape Town’s Blue Root Mall, said Huawei handsets aren’t that popular anymore, not because of concerns over any nefarious activities by the company, but rather because Google services are no longer on the devices. Google is no longer available because of a U.S. Huawei ban.  

David Devillieras, who was sitting at a cafe at the mall using his Samsung phone, told VOA he’d never heard of the possibility Huawei was involved in surveillance. He added that he wouldn’t buy a Huawei phone having heard that.  

“I wouldn’t go there at all, not for one second. I wouldn’t buy a Chinese phone,” he said.

One shopper, Steve Elliot-Jones, said he “wouldn’t trust anything that comes out of China,” but thought other countries could also be using mobile networks to spy.

“It wouldn’t surprise me if technology companies including the states or anywhere else for that matter… I wouldn’t say anyone’s actually innocent. I think they’re all probably all up to selling information and making money on the side and denying it if it comes out.”

Musk Says $44-billion Twitter Deal Temporarily On Hold

Elon Musk said on Friday his $44-billion deal for Twitter Inc was temporarily on hold, citing pending details on spam and fake accounts.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk said in a tweet.

Shares of the social media company fell 20% in premarket trading. Twitter did not immediately respond to a request for comment.

The company had earlier this month estimated that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter.

It also said it faced several risks until the deal with Musk is closed, including whether advertisers would continue to spend on Twitter.

Musk, the world’s richest man and the chief executive of Tesla Inc, had said that one of his priorities would be to remove “spam bots” from the platform.

Bill Gates Says He Has COVID-19, Experiencing Mild Symptoms 

Microsoft co-founder Bill Gates said Tuesday he has tested positive for COVID-19 and is experiencing mild symptoms. 

Via Twitter, the billionaire philanthropist said he will isolate until he is again healthy. 

“I’m fortunate to be vaccinated and boosted and have access to testing and great medical care,” Gates wrote. 

The Seattle-based Bill and Melinda Gates Foundation is the most influential private foundation in the world, with an endowment of about $65 billion. 

Bill Gates has been a vocal proponent for pandemic mitigation measures, specifically access to vaccines and medication for poorer countries. The Gates Foundation in October said it will spend $120 million to boost access to generic versions of drugmaker Merck’s antiviral COVID-19 pill for lower-income countries. 

Elon Musk Says He’d Reinstate Trump’s Twitter Account

Elon Musk on Tuesday said he would reinstate former President Donald Trump’s Twitter account. 

The Tesla CEO who’s vying to buy Twitter and take it private for a reported price tag of $44 billion made the comment at the Financial Times Future of the Car conference. 

“I do think that it was not correct to ban Donald Trump,” Musk said. “I think that was a mistake because it alienated a large part of the country and did not ultimately result in Donald Trump not having a voice.”  

Musk added that Trump’s ban was “morally wrong and flat-out stupid.” 

Trump’s account was permanently banned after the January 6 riot at the U.S. Capitol, with Twitter saying his continued presence on the platform was a “risk of further incitement of violence.”  

Musk added that permanent bans should be “extremely rare” and reserved for “bots, or spam/scam accounts.”  

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” he said in a recent statement.  

Trump has said he does not intend to rejoin Twitter and will focus mostly on the social network he launched called Truth Social. 

Some information in this report comes from The Associated Press and Reuters. 

 

Biden Starts Program to Provide Discounted Internet Service in US

The Biden administration announced on Monday that 20 internet companies have agreed to provide discounted service to people with low incomes, a program that could effectively make tens of millions of households across the U.S. eligible for free service through an already existing federal subsidy.

The $1 trillion infrastructure package passed by Congress last year included $14.2 billion funding for the Affordable Connectivity Program, which provides $30 monthly subsidies ($75 in tribal areas) on internet service for millions of lower-income households.

With the new commitment from the internet providers, some 48 million households will be eligible for $30 monthly plans for 100 megabits per second, or higher speed, service — making internet service fully paid for with the government subsidy if they sign up with one of the providers participating in the program.

Biden, during his White House run and the push for the infrastructure bill, made expanding high-speed internet access in rural and low-income areas a priority. He has repeatedly spoken out about low-income families that struggled finding reliable Wi-Fi, so their children could take part in remote schooling and complete homework assignments early in the coronavirus pandemic.

“If we didn’t know it before, we know now: High-speed internet is essential,” the Democratic president said during a White House event last month honoring the National Teacher of the Year.

The 20 internet companies that have agreed to lower their rates for eligible consumers provide service in areas where 80% of the U.S. population, including 50% of the rural population, live, according to the White House. Participating companies that offer service on tribal lands are providing $75 rates in those areas, the equivalent of the federal government subsidy in those areas.

Biden and Vice President Kamala Harris on Monday were set to meet with telecom executives, members of Congress and others to spotlight the effort to improve access to high-speed internet for low-income households.

The providers are Allo Communications, AltaFiber (and Hawaiian Telecom), Altice USA (Optimum and Suddenlink), Astound, AT&T, Breezeline, Comcast, Comporium, Frontier, IdeaTek, Cox Communications, Jackson Energy Authority, MediaCom, MLGC, Spectrum (Charter Communications), Starry, Verizon (Fios only), Vermont Telephone Co., Vexus Fiber and Wow! Internet, Cable, and TV.

American households are eligible for subsidies through the Affordable Connectivity Program if their income is at or below 200% of the federal poverty level, or if a member of their family participates in one of several programs, including the Supplemental Nutrition Assistance Program (SNAP), Federal Public Housing Assistance (FPHA) and Veterans Pension and Survivors Benefit.

Musk Gets $7B Backing for Twitter Bid From Tech Heavyweights

Billionaire Elon Musk has strengthened the equity stake of his offer to buy Twitter with commitments of more than $7 billion from a range of investors, including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison.

Other investors include Sequoia Capital Fund, which pledged $800 million, and VyCapital, which pledged $700 million, according to a Thursday filing with the U.S. Securities and Exchange Commission. But Ellison, who is also a and Tesla board member, is making the biggest contribution, pegged at $1 billion.

Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud has pledged 35 million in Twitter shares in support of Musk, according to the filing.

Musk in earlier regulatory filings revealed that he has sold roughly $8.5 billion worth of shares in Tesla to help fund the purchase. Musk later tweeted that he doesn’t plan any further sales of the company’s shares, meaning he would need outside commitments to help fund the $44 billion deal.

Because of the new funding listed in the SEC filing Thursday, Musk will cut the $12.5 billion in margin loans he was leaning on in half, to $6.25 billion. The transaction is also now being funded by $27.25 billion in cash and equities, up from $21 billion.

The Thursday filing also said that Musk is in ongoing talks with other parties including former Twitter CEO Jack Dorsey, who is the second largest individual stakeholder in the company after Musk.

“This was a smart financial and strategic move by Musk that will be well received across the board and also shows the Twitter deal is now on a glide path to get done by the end of this year,” wrote analyst Dan Ives who follows Twitter for Wedbush.

Shares of Twitter Inc. have remained below the per-share offering bid by Musk of $54.20 because there are still doubts on Wall Street about whether the deal will go through.

Shares of the San Francisco social media platform rose 2% before the opening bell, to $50.10.

US Company Produces Drones for Ukrainian Armed Forces

BRINC, a company based in Seattle, Washington, is producing special drones to assist Ukraine’s armed forces. The drones are used in search and rescue missions and can provide eyes in places where it’s too dangerous to send people. Khrystyna Shevchenko has the story, narrated by Anna Rice.
Videographer: Khrystyna Shevchenko

Google Adds Ways to Keep Personal Info Private in Searches

Google has expanded options for keeping personal information private from online searches.

The company said Friday it will let people request that more types of content such as personal contact information like phone numbers, email and physical addresses be removed from search results.

The new policy also allows the removal of other information that may pose a risk for identity theft, such as confidential log-in credentials.

The company said in a statement that open access to information is vital, “but so is empowering people with the tools they need to protect themselves and keep their sensitive, personally identifiable information private.”

“Privacy and online safety go hand in hand. And when you’re using the internet, it’s important to have control over how your sensitive, personally identifiable information can be found,” it said.

Google Search earlier had permitted people to request that highly personal content that could cause direct harm be removed. That includes information removed due to doxxing and personal details like bank account or credit card numbers that could be used for fraud.

But information increasing pops up in unexpected places and is used in new ways, so policies need to evolve, the company said.

Having personal contact information openly available online also can pose a threat and Google said it had received requests for the option to remove that content, too.

It said that when it receives such requests it will study all the content on the web page to avoid limiting availability of useful information or of content on the public record on government or other official websites.

“It’s important to remember that removing content from Google Search won’t remove it from the internet, which is why you may wish to contact the hosting site directly, if you’re comfortable doing so,” it said.

New Kenyan Fish Marketing App Aims to Reduce Sexual Exploitation of Women Fishmongers

An application developed in Kenya to improve the marketing of fish caught in Lake Victoria is helping women fishmongers fend off sex-for-fish exploitation by fishermen. The Aquarech app allows traders to buy fish without having to negotiate with fishermen – as Ruud Elmendorp reports from Kisumu, Kenya.
Videographer: Ruud Elmendorp Produced by: Henry Hernandez

Elon Musk Quest to Scrap Deal Over 2018 Tweets is Rejected

Elon Musk’s request to scrap a settlement with securities regulators over 2018 tweets claiming he had the funding to take Tesla private was denied by a federal judge in New York.

Judge Lewis Liman on Wednesday also denied a motion to nullify subpoenas of Musk seeking information about possible violations of his settlement with the Securities and Exchange Commission.

Musk had asked the court to throw out the settlement, which required that his tweets be approved by a Tesla attorney. The SEC is investigating whether the Tesla CEO violated the settlement with tweets last November asking Twitter followers if he should sell 10% of his Tesla stock.

The whole dispute stems from an October 2018 agreement with the SEC in which Musk and Tesla each agreed to pay $20 million in civil fines over Musk’s tweets about having the money to take Tesla private at $420 per share.

The funding was far from secured and the electric vehicle company remains public, but Tesla’s stock price jumped. The settlement specified governance changes, including Musk’s ouster as board chairman, as well as pre-approval of his tweets.

Musk attorney Alex Spiro contended in court motions that the SEC was trampling on Musk’s right to free speech.

Google Investment to Help Solve Africa’s Tech Problems

California-based Google wants to get a bigger share of Africa’s growing online population, which is expected to top 800 million by 2030. 

 

The internet search giant announced this month it is setting up its first product development center on the continent, to be based in Kenya’s capital, Nairobi. It is scheduled to open next year and will employ more than 100 people. 

Charles Murito, head of government affairs and public policy for sub-Saharan Africa at Google, said the investment will create many opportunities within Africa’s tech sector.   

“The product development center is going to be one that works to create transformative products and services for people right here on the continent, as well as creating a product for the rest of the world,” he said. “So the announcement last week was really just a kick-off in terms of the hiring process for the people that are going to be working in this product development center for Africa. And that will include roles such as product managers, UX designers and researchers, and engineers, and this is really a starting point of the work we are going to be doing.” 

The multinational technology company said its mission is to make the world’s information universally accessible and create a product that works well for Africans. 

 

Bitange Ndemo, former principal secretary of Kenya’s information, communication, and technology ministry, said the government needs to train more of its youth to benefit from the Google center. 

“It’s a wonderful investment in the sense that it’s going to help reduce the problem of unemployment in this country, but what that tells the Kenyan government is they must begin to invest in skilling and reskilling young people so that they can meet the demand. Already the demand for such skills exceeds supply locally,” he said. 

Google has trained over 80,000 certified developers from Africa in the past few years. 

 

The firm is investing $1 billion in projects over the next five years to help with the development of Africa internet economy. 

 

Murito said the investment will transform Africa. 

“It’s the opportunity around creating products that work best for Africans at large and, therefore, whether you are thinking about products on financial inclusion or other sectors of the economy, we believe that by having a product development center right here on the continent, we will be able to know firsthand what challenges are and also be able to create products that will service and solve some of those challenges,” he said. 

Microsoft has also invested in Kenya, hiring hundreds of engineers from the East African nation. 

 

The continent comes with its own challenges for businesses because some countries lack good governance and the rule of law and that creates an uncertain environment for investments. Some nations have turned off the internet to silence their citizens. 

 

Murito said his organization works with African governments to encourage innovation and develop policies that will sustain innovation. 

 

US Laboratory Innovating Electronic Vehicle Technology 

Many of the technological advances in lithium ion batteries that now power many electric vehicles began in a laboratory just outside Chicago’s city limits decades ago.  VOA’s Kane Farabaugh reports on new innovations at Argonne National Laboratory preparing for the next-generation needs of drivers.
Camera: Kane Farabaugh, Mike Burke   
Produced by: Kane Farabaugh   

More Free Speech or More Misinformation? Reactions Mixed to Twitter Sale 

Tesla CEO Elon Musk’s $44 billion deal to buy Twitter Monday met mixed reactions as observers speculated how digital speech on the service might change under his leadership. 

Musk, a prolific Twitter user who has criticized Twitter’s management in tweets, said in the press release Monday announcing the deal that “Twitter is the digital town square where matters vital to the future of humanity are debated.”   

Musk’s takeover of Twitter was applauded by some U.S. conservatives who have alleged that internet firms — including Twitter — promote a liberal political agenda and suppress conservative voices. 

Senator Ted Cruz, a Republican from Texas, tweeted that it’s “amazing to watch the Left panic at the prospect of free speech on Twitter.”  

  

But others expressed concern that Musk’s takeover would mean less moderation of hate speech and misinformation on the site.   

Sumayyah Waheed, senior policy counsel with Muslim Advocates, a national civil rights organization, told VOA that Twitter doesn’t have a good track record of taking down hateful speech against Muslims. 

“We already face threats and regular harassment on Twitter, and a weaker content moderation system will just make that even worse,” she said.  

 

Twitter, with more than 400 million monthly active users, has a smaller audience than Facebook, with 3 billion users, and YouTube, with over 2 billion.   

Twitter is primarily used in the U.S. and Western Europe, where it is influential among journalists, political leaders, celebrities and other thought leaders. Because powerful people use Twitter, it has an outsized influence, observers say.  

Twitter allows people to post anonymously and is credited with helping marginalized voices around the world speak. Musk has talked recently of wanting to “authenticate all real humans” on the site, raising concerns among digital rights advocates that Twitter will require accounts to be tied to a person’s identity.  

Twitter under Musk 

Michael Posner, director of the New York University Stern Center for Business and Human Rights, said that Musk’s statements about free speech “are not very well developed.”  

“We have to hope that once he gets into the driver’s seat, he understands that social media platforms need to be moderated by people who own them and run them,” he told VOA. “A site where content moderation is not taken seriously is going to yield spam, pornography, hate speech and disinformation, and all kinds of things that are not good for society.”  

Emerson Brooking, a resident senior fellow at the Digital Forensic Research Lab of the Atlantic Council, a U.S. think tank, said Twitter will probably change under the new leadership.  

“Musk’s absolutist view of freedom of speech, his unfamiliarity with the challenges that many people face around the world in expressing their political points of view, these two things are going to clash,” he said in an interview with VOA. “And I expect that the Twitter of the future will look quite a bit different and quite a bit less inviting for many people.”   

Concentration of power 

Evan Greer, director of the digital rights organization Fight for the Future, said Musk’s acquisition exposes another issue: A handful of companies have a monopoly on “what can be seen, heard and done online,” she said. 

“If we want a future of free speech, it’s not a future where the richest person on Earth can purchase a platform that millions of people depend on and then change the rules to his liking,” she said in an interview with VOA.  

There’s been speculation that under Musk, former President Donald Trump, whom Twitter banned permanently in 2021, could return to the site. But Trump told Fox News prior to the announcement of the deal Monday that while he hoped that Musk would buy Twitter, he would not return to the service. Instead, he will join his own social media site, Truth Social, he said. 

For his part, Musk appeared to acknowledge the varied reactions about his new role, tweeting Monday: “I hope that even my worst critics remain on Twitter, because that is what free speech means.” 

 

 

 

 Twitter CEO Says Company Direction Uncertain After Musk Deal 

Twitter CEO Parag Agrawal told employees Monday that he is uncertain of the direction the company will go after Tesla CEO Elon Musk takes over.    

Musk reached an agreement Monday to buy Twitter for $44 billion, promising to make the platform more supportive of free speech. The move has raised questions about how far Twitter will go to relax restrictions on users’ speech and led critics to fear new policies would make it easier for people to spread disinformation and hate speech. 

Agrawal answered employee questions Monday in a town hall that was heard by Reuters.    

The news agency reported that Agrawal told employees, “Once the deal closes, we don’t know which direction the platform will go.” The CEO was answering a question about whether former President Donald Trump would be allowed to rejoin Twitter despite his permanent suspension.  

“I believe when we have an opportunity to speak with Elon, it’s a question we should address with him,” Agrawal said.  

Twitter banned Trump after the U.S. Capitol was stormed on January 6, 2021, citing a risk of more violence.  

Musk has proposed relaxing the type of content restrictions that led Twitter to suspend the former president’s account.     

Musk, who is also CEO of rocket developer SpaceX, has said Twitter needs to become a private company so that it can realize its potential for free speech. He has described himself as a “free-speech absolutist.”     

Reuters reported that Agrawal deferred many staff questions to Musk, who he said would join Twitter staff for a question-and-answer session at a later date. 

Agrawal also told employees there were no plans for layoffs. 

Musk said in a securities filing this month that he did not have confidence in Twitter’s management.  

He said in a statement Monday that “free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.”   

Some information in this report came from Reuters. 

 

Elon Musk Reaches Agreement to Buy Twitter

Tesla CEO Elon Musk reached an agreement Monday to buy Twitter for $44 billion cash. 

The sale will transform the social media giant from a publicly traded company to a privately held one, owned solely by Musk, the world’s richest person. 

Discussions over the deal accelerated after Musk unveiled a financing package last week to back the acquisition.   

Twitter shares were up more than 5% in trading Monday afternoon.   

Musk, who is also CEO of rocket developer SpaceX, has said Twitter needs to become a private company so that it can realize its potential for free speech. He has described himself as a “free-speech absolutist.”  

The businessman, who is a prolific tweeter with more than 83 million followers, tweeted Monday, “I hope that even my worst critics remain on Twitter, because that is what free speech means.”  

Twitter CEO Parag Agrawal said in a tweet Monday, “Twitter has a purpose and relevance that impacts the entire world.” 

“Deeply proud of our teams and inspired by the work that has never been more important,” he added. 

Musk has proposed relaxing Twitter’s content restrictions, which could include rules that suspended former President Donald Trump’s account.   

Earlier Monday, Republicans cheered news that Musk was close to reaching a deal with Twitter.  

“Hey, @elonmusk it’s a great week to free @realDonaldTrump,” tweeted the House Republican Conference.  

Twitter banned Trump’s account after the U.S. Capitol was stormed on Jan. 6, 2021, citing a risk of more violence. 

Musk is the world’s richest person according to Forbes magazine, with a nearly $279 billion fortune.  

Some information in this report comes from the Associated Pres and Reuters. 

 

Elon Musk Appears to Have Secured Financing for Twitter Tender Offer

According to papers filed with U.S. securities regulators, billionaire Elon Musk appears ready to continue his bid to take over Twitter, this time via a tender offer that would bypass the company’s board and offer to buy stock directly from shareholders. 

Twitter’s board of directors last week voted unanimously to use a tactic called a “poison pill” to fend off Musk’s attempt to acquire the company. 

The papers show Musk, CEO of Tesla and SpaceX, has secured $46.5 billion in financing for the offer of $54.20 per share. 

Twitter “is committed to conducting a careful, comprehensive and deliberate review to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders,” the company said in a statement Thursday. 

The news only shows Musk could go forward with a tender offer, but apparently no decision has been made.  

In addition to Musk, Morgan Stanley, Barclays, Bank of America, Societie Generale, Mizuho Bank, BNP Paribas and MUFG could be involved in the deal. 

They have reportedly agreed to finance $25.5 billion of the deal while Musk could cover the rest. 

Twitter stock was trading flat on the development. 

Under the poison pill plan, all Twitter shareholders except Musk could buy more shares at a discount. This would dilute the world’s richest person’s stake in the company and prevent him from recruiting a majority of shareholders supporting his move. 

If Musk’s ownership in Twitter grows to 15% or more, the poison pill would go into effect. 

Last week, Musk, who was revealed as the company’s largest individual shareholder, with 9.2% of the shares, later offered more than $43 billion, or $54.20 per share, to purchase the entire company. 

Musk’s offer would provide a substantial premium over Twitter’s current stock price. 

When Musk made his offer, he lamented the company’s stance on free speech. 

“I believe free speech is a societal imperative for a functioning democracy,” Musk said in the filing. “I now realize the company will neither thrive nor serve this societal imperative in its current form.” 

Some information in this report comes from The Associated Press. 

 

Tesla Stockholders Ask Judge to Silence Musk in Fraud Case 

A group of Tesla shareholders suing CEO Elon Musk over some 2018 tweets about taking the company private is asking a federal judge to order Musk to stop commenting on the case. 

Lawyers for stockholders of the Austin, Texas-based company also say in court documents that the judge in the case has ruled that Musk’s tweets about having “funding secured” to take Tesla private were false, and that his comments also violate a 2018 court settlement with U.S. securities regulators in which Musk and Tesla each agreed to pay $20 million fines. 

Musk, during an interview April 14 at the TED 2022 conference, said he had the funding to take Tesla private in 2018. He called the Securities and Exchange Commission a profane name and said he only settled because bankers told him they would stop providing capital if he didn’t, and Tesla would go bankrupt. 

The interview and court action came just days after Musk, the world’s richest person, made a controversial offer to take over Twitter and turn it into a private company with a $43 billion offer that equals $54.20 per share. Twitter’s board on April 15 adopted a “poison pill” strategy that would make it prohibitively expensive for Musk to buy the shares. 

In court documents filed April 15, lawyers for the Tesla shareholders alleged that Musk is trying to influence potential jurors in the lawsuit. They contend that Musk’s 2018 tweets about having the money to take Tesla private at $420 per share were written to manipulate the stock price, costing shareholders money. 

Now, lawyers say Musk is campaigning to influence possible jurors as the case gets closer to trial. 

“Musk’s comments risk confusing potential jurors with the false narrative that he did not knowingly make misrepresentations with his Aug. 7, 2018, tweets,” the lawyers wrote. “His present statements on that issue, an unsubtle attempt to absolve himself in the court of public opinion, will only have a prejudicial influence on a jury.” 

The lawyers asked Judge Edward Chen in San Francisco to restrain Musk from making further public comments on the issue until after the trial. Chen gave Musk’s lawyers until April 20 to respond. 

Alex Spiro, a lawyer representing Musk, wrote in an email April 17 that the plaintiffs’ lawyers are seeking a big payout. “Nothing will ever change the truth, which is that Elon Musk was considering taking Tesla private and could have,” he wrote. “All that’s left some half-decade later is random plaintiffs lawyers trying to make a buck and others trying to block that truth from coming to light, all to the detriment of free speech.” 

But the shareholders’ lawyers wrote that Chen already ruled that Musk’s tweets were false and misleading, and “that no reasonable juror could conclude otherwise.” 

Judge Chen’s order, issued April 1, was not in the public court file as of April 17.  Adam Apton, a lawyer for the shareholders, said it was sealed because it has evidence that Musk and Tesla say is confidential. It will stay sealed until the parties agree if anything should remain sealed, he wrote in an email. “Our motion for TRO (temporary restraining order) accurately describes the issues decided by the court,” Apton wrote. 

After Musk’s 2018 tweets, the SEC filed a complaint against him alleging securities law violations. Musk then agreed to the fine and signed the court agreement. Part of the agreement says that Musk “will not take any action or make or permit to be made any public statement denying, directly or indirectly, any allegation in the complaint or creating the impression that the complaint is without factual basis.” 

If Musk violates the agreement, the SEC may ask the court to scrap it and restore the securities fraud complaint, the agreement says. A message was left April 17 seeking comment from the SEC. 

Spiro, on behalf of Musk, already has asked a Manhattan federal court to throw out the agreement. He contends the SEC is using the pact and “near limitless resources” to chill Musk’s speech. Court documents filed by Spiro say Musk signed the agreement when Tesla was a less mature company and SEC action jeopardized its financing. 

US Intelligence Satellite Launched From California

A classified satellite for the U.S. National Reconnaissance Office was launched into space from California on Sunday. 

The NROL-85 satellite lifted off at 6:13 a.m. local time from Vandenberg Space Force Base aboard a two-stage SpaceX Falcon 9 rocket. 

It was the first mission by the NRO to reuse a SpaceX rocket booster, Vandenberg said in a statement. 

The Falcon’s first stage flew back and landed at the seaside base northwest of Los Angeles. 

The NRO only described the NROL-85 satellite as a “critical national security payload.” 

Its launch was one of three awarded by the Air Force to SpaceX in 2019 for a combined fixed price of $297 million. 

The NRO is the government agency in charge of developing, building, launching and maintaining U.S. satellites that provide intelligence data to senior policymakers, the intelligence community and the Defense Department.