SAN FRANCISCO: Twitter sued Tesla CEO Elon Musk on Tuesday, trying to force him to complete his $44 billion takeover of the social media company by accusing him of “outlandish” and “bad faith” actions that have caused the platform irreparable harm and “wreaked havoc” on its stock price.
Back in April, Musk pledged to pay $54.20 a share for Twitter, which agreed to those terms after reversing its initial opposition to the deal. But the two sides have been bracing for a legal fight since the billionaire said Friday that he was backing away from his agreement to buy the company.
Twitter’s lawsuit opens with a sharply-worded accusation: “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” the suit stated.
Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there.
As part of the April deal, Musk and Twitter had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal falling through. The company could have pushed Musk to pay the hefty fee but is going farther than that, trying to force him to complete the full $44 billion purchase approved by the company’s board.
“Oh the irony lol,” Musk tweeted after Twitter filed the lawsuit, without explanation.
The arguments and evidence laid out by Twitter are compelling and likely to get a receptive ear in the Delaware court, which doesn’t look kindly on sophisticated buyers with highly-paid legal advisers backing off of deals, said Brian Quinn, a law professor at Boston College.
“They make a very strong argument that this is just buyer’s remorse,” Quinn said. “You have to eat your mistakes in the Delaware Chancery Court. That’s going to work very favorably for Twitter.”
Musk alleged Friday that Twitter has failed to provide enough information about the number of fake accounts on its service. Twitter said last month that it was making available to Musk a ″fire hose” of raw data on hundreds of millions of daily tweets.
The company has said for years in regulatory filings that it believes about 5 percent of the accounts on the platform are fake. Musk is also alleging that Twitter broke the acquisition agreement when it fired two top managers and laid off a third of its talent-acquisition team.
Twitter’s suit repeatedly emphasizes Musk’s contemplation of starting a Twitter competitor — an alternative option he sometimes aired publicly and sometimes privately to Twitter’s executives and board members. While the company has said it cooperated in providing the data he requested on fake “spam bot” accounts, the lawsuit suggests Twitter was concerned that disclosing too much “highly sensitive information” could expose the company to competitive harm if shared.
The biggest surprise for Quinn was how much evidence Twitter has — for instance, communications with Musk about whether to retain or lay off employees, as well as the billionaire’s own public tweets — to reject his arguments for backing out.
“They are marshaling many of Musk’s own tweets to hoist him on his own petard,” he said.
In a joint press release announcing the acquisition deal, Musk pledged to “unlock” the social media company’s potential by loosening restrictions on speech and rooting out fake accounts. Among his most attention-grabbing promises was to let former President Donald Trump back onto the platform. Musk argued that Twitter’s ban of Trump following the Jan. 6, 2021 insurrection at the US Capitol was “morally bad” and “foolish in the extreme.”
But his confidence didn’t last long. Tesla’s stock — Musk’s primary source of wealth — plummeted amid a broader stock market selloff in May, and Musk soon seemed less enthusiastic about owning Twitter.
“For Musk, the best case is he pays the $1 billion breakup fee but that appears very unlikely,” said Wedbush Securities analyst Daniel Ives. “The irony is that Twitter as a fiduciary is clearly looking to enforce a deal that Musk doesn’t want to get done. It’s like buying a house you don’t want.”
Twitter’s suit calls Musk’s tactics “a model of hypocrisy,” noting that he had emphasized plans to take Twitter private in order to rid it of spam accounts. Once the market declined, Twitter said, “Musk shifted his narrative, suddenly demanding ‘verification’ that spam was not a serious problem on Twitter’s platform, and claiming a burning need to conduct ‘diligence’ he had expressly forsworn.”
Similarly, the company charges that Musk operated in bad faith, accusing him of requesting company information in order to accuse Twitter of providing “misrepresentations” about its business to regulators and investors.
Musk “has been acting against this deal since the market started turning, and has breached the merger agreement repeatedly in the process,” the suit charged. “He has purported to put the deal on ‘hold’ pending satisfaction of imaginary conditions, breached his financing efforts obligations in the process, violated his obligations to treat requests for consent reasonably and to provide information about financing status, violated his non-disparagement obligation, misused confidential information, and otherwise failed to employ required efforts to consummate the acquisition.”
Twitter sues to force Elon Musk to complete his $44B acquisition
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Twitter sues to force Elon Musk to complete his $44B acquisition
Sky News Arabia opens new headquarters, announces fresh programming
DUBAI: Sky News Arabia, part of media group IMI, has opened its new headquarters in the same building as the IMI HQ on Yas Island, Abu Dhabi.
The new HQ features advanced broadcasting studios fitted with the latest AI technologies, the company said.
Sky News Arabia has also launched a new programming grid covering politics, lifestyle, sports, business and entertainment.
The announcements come 12 years after the channel’s launch.
They mark a new chapter that “embodies our forward-thinking strategy to anticipate and exceed audience expectations by embracing cutting-edge technologies and delivering diverse, engaging programming that transcends borders, setting new benchmarks for excellence,” said Rani Raad, CEO of IMI and president and operating partner of Redbird IMI.
The company has been working over the past year to elevate “the way each of the media companies within our network engage with audiences, to ensure we continue to deliver content that truly resonates,” he added.
The new programming will include shows such as “Studio One” hosted by Fadila Souissi, which will highlight political and societal issues, and the “Emad Eldin Adib” show, which will focus on politics in the Arab world.
Sky News Arabia is also expanding its lineup of non-political shows. The “Al Sabah Show” will return, featuring segments on health, fashion, law, and celebrities. It will be hosted by Maha Abdullah, Ahmed Qassem, Hani Ziadeh, Christine Dagher and Lubna Mansour.
The show will extend to digital channels and social media platforms through 12 specifically tailored mini-segments.
“In an era of rapid change and information overload, we are committed to empowering our audience with the tools to navigate and discern credible news,” said Nadim Koteich, general manager of Sky News Arabia.
He added: “By providing transparent, engaging and diverse content across politics, economics, lifestyle and technology, we ensure that Sky News Arabia remains a credible source of information that meets the dynamic needs of our viewers.”
Benefits of AI economy must be equitably distributed, says UN tech envoy in Davos
- Amandeep Singh Gill seeks ‘global’ efforts to tackle digital divide
- ‘We need to have a more collaborative and respectful approach’
DAVOS:The power of artificial intelligence and quantum computing must be harnessed to benefit nations across the world, not only developed economies, said Amandeep Singh Gill, the UN’s envoy on technology, on Thursday.
Speaking during a panel titled “From High-Performance Computing to High- Performance Problem Solving,” Gill said that countries in Africa, for example, hold less than 0.5 percent of graphic processing units worldwide.
Also participating in the discussion were Georges-Olivier Reymond, co-founder and CEO of PASQAL; Ana Paula Assis, senior vice president and chair IBM EMEA and Growth Markets; and Paul Alivisatos, president of the University of Chicago.
“My challenge is to convince policymakers who have limited resources to invest in the digital divide, data and AI and quantum development as well,” explained the envoy.
“There is a backlash against the neo-colonial situation, where the tech is developed in just a few geographies, and the rest of the world is takers of this tech. You can call it the sovereignty backlash … we need to have a more collaborative and respectful approach,” he added.
When asked by panel moderator Azeem Azhar, CEO of Exponential View, about the risk of uncertainty in the field of quantum computing, Gill said he sees an opportunity more than a risk.
“We are at an early stage in terms of the science and technology of developing things so different technologies might be used. A degree of uncertainty and diversity is important,” he added.
But the envoy emphasized the need to have a unified global force that would ensure everyone can participate in this area of technology.
“When we look at the global majority, not everyone will be able to use quantum computing, the cryptographic effort has to be global, it can’t be isolated,” he said.
Gill said the world is shifting toward quantum infrastructure in order to reduce energy consumption. According to the envoy, today’s AI systems consume a great deal of energy.
The UN deemed 2025 as the “International Year of Quantum Science and Technology.” This initiative aims to celebrate quantum mechanics and educate people on its impacts on technology, culture, and understanding of the world.
Al Jazeera says the Palestinian Authority arrested one of its reporters
- The Qatar-based news network reported that its reporter Mohammed Al-Atrash was arrested from his home
The Al Jazeera news network says the Palestinian Authority arrested one of its reporters after preventing him from covering an Israeli operation in the occupied West Bank.
The Qatar-based news network reported Thursday that its reporter, Mohammed Al-Atrash, was arrested from his home.
It said Palestinian security forces had earlier prevented him from reporting on a large Israeli military operation in Jenin, an epicenter of Israeli-Palestinian violence in recent years. The Palestinian Authority launched its own crackdown on militants in the city late last year.
There was no immediate comment from the Palestinian Authority.
Both Israel and the Western-backed Palestinian Authority banned Al Jazeera last year. Israel accuses it of being a mouthpiece of Hamas over its coverage of the war in the Gaza Strip and says some of its reporters are also militants.
The pan-Arab broadcaster has rejected the allegations and accused both Israel and the Palestinian Authority of trying to silence critical coverage.
The internationally recognized Palestinian Authority administers parts of the Israeli-occupied West Bank and cooperates with Israel on security matters. It is unpopular among Palestinians, with critics portraying it as a corrupt and authoritarian ally of Israel.
South Sudan orders temporary ban on social media over violence in neighboring Sudan
- Many South Sudanese have been angered by footage from Sudan that purports to show killings by militia groups of South Sudanese in Gezira state
JUBA, South Sudan: South Sudanese authorities on Wednesday ordered telecoms to block access to social media for at least 30 days, citing concerns over the dissemination of graphic content relating to the ongoing violence against South Sudanese in neighboring Sudan.
The temporary ban, which could be extended to up to 90 days, will come into force at midnight Thursday, according to a directive from the National Communication Authority, NCA, to telecom companies stressing that the measure was necessary to protect the public.
“This directive may be lifted as soon as the situation is contained,” the NCA said. “The contents depicted violate our local laws and pose a significant threat to public safety and mental health.”
Many South Sudanese have been angered by footage from Sudan that purports to show killings by militia groups of South Sudanese in Gezira state. South Sudanese authorities imposed a dusk-to-dawn curfew on Jan. 17 after a night of retaliatory violence during which shops owned by Sudanese traders were looted.
Moussa Faki Mahamat, chairperson of the African Union Commission, condemned “the brutal killings of South Sudanese nationals” in Sudan and urged restraint.
Civil war in Sudan has created a widening famine and the world’s largest displacement crisis. Fighting between forces loyal to rival military leaders exploded in the capital, Khartoum, in April 2023 and has since spread to other areas.
The conflict has been marked by atrocities, including ethnically motivated killing and rape, according to the UN and rights groups.
‘Controlling technology does not bridge the divide,’ says e& chief at WEF
- Hatem Dowidar said that while poorer nations may lack the expertise and resources to build AI infrastructure, governance and data sovereignty could unlock opportunities for decentralizing such technologies
- Brad Smith pointed to Microsoft’s $1 billion investment, in partnership with Abu Dhabi-based AI firm G42, in establishing a data center in Kenya as an indication of decentralization efforts
LONDON: Controlling key technologies such as artificial intelligence does little to bridge the divide between richer and poorer nations, hindering the potential to benefit all, according to Hatem Dowidar, group chief executive officer of e&.
Speaking at the World Economic Forum, Dowidar highlighted the need for a shift in mindset among regulators to “close the divide rather than widen it.”
He said that the challenge lay less in countries lacking the expertise or resources to build AI infrastructure and more in governance and data sovereignty issues, which often required external handling.
“We do have a couple of cases now where agreements have been done that allow for data to be handled securely,” he said. “In other markets, there are a few lighthouse cases that allows this to happen, and actually some of the hyperscalers — Microsoft and AWS — are working on creating these ring-fenced sovereign clouds that can serve countries from another country while really preserving that integrity and sovereignty.”
Dowidar explained that while many countries lacked access to AI know-how and connectivity, the energy-intensive process of training AI models presented perhaps a more significant barrier.
“So there is a possibility where you can have these central areas, where we can serve the countries that don’t have the massive energy needed to teach the models, but then we need to relax the AI data sovereignty issues,” he said.
Participating in the panel, “AI: Lifting All Boats,” Brad Smith, vice-chair and president of Microsoft, discussed his company’s push toward a decentralized approach to AI development. He pointed to Microsoft’s $1 billion investment, in partnership with Abu Dhabi-based AI firm G42, to establish a data center in Kenya as an example of such efforts.
“It is hard to spend a billion dollars to support 50 million people in Kenya alone, but we’re doing it,” he said. “But the real question is, can we grow that and can we reach Rwanda? We can, but only under one circumstance that you get Rwanda, Tanzania and Uganda and Kenya and Ethiopia, that you get the East African Community to decide together that they will all use that data center.”
He called this type of development “a data zone, just like we have free trade zones that will get us halfway there.”
However, Smith emphasized that the private sector alone could not shoulder the burden of such investments. Local governments and international institutions were essential to “kickstart the demand” if regions such as East Africa were to bridge the divide and compete on the global stage.
The panelists also criticized the US for its protectionist approach, particularly the imposition of export controls on competitive nations such as China.
While acknowledging that American technology currently held a significant edge, they argued that these restrictive policies were fueling rival nations to “catch up in various ways, partly by driving them to develop more frugal and innovative models.”
