Business

Elon Musk: Only blue tick users to vote in Twitter polls on policy

Published

2 years ago

December 20, 2022

Harry Miller

Elon Musk asks public whether he should stay or go as Twitter chief

By Michael Race & Monica Miller

Business reporters, BBC News

Elon Musk has said Twitter will only allow accounts with a blue tick to vote on changes to policy after a majority of users voted for him to quit.

Mr Musk launched a Twitter poll asking if he should step down as chief executive – 57.5% of users voted “yes”.

Since then, he has not commented directly on the result of the poll.

But he has said that Twitter will alter its rules so that only people who pay for a subscription can vote on company policy.

One user claimed that so-called bots appeared to have voted heavily in the poll about Mr Musk’s role at the firm. Mr Musk said he found the claim “interesting”.

The billionaire had said when he ran the poll that he would abide by the result. If he does quit as chief executive, he will remain as Twitter’s owner.

Bruce Daisley, former vice president of Twitter, compared any potential change to that of a football manager. “The chairman still remains and Elon Musk is going to be that ever-present voice in the back of the room,” he told the BBC’s Today programme.

In response to a tweet saying Twitter Blue subscribers “should be the only ones that can vote in policy related polls. We actually have skin in the game”, Mr Musk said: “Good point, Twitter will make that change”.

Twitter’s paid-for verification feature was rolled out for a second time last week after its launch was paused. The service costs $8 per month, or $11 for people using the Twitter app on Apple devices, and gives subscribers a “blue tick”.

Previously a blue tick was used as verification tool for high-profile accounts as a badge of authenticity and was free.

On Monday, Mr Musk held a poll on his future as chief executive. More than 17.5 million users voted and the majority backed him stepping down.

Should I step down as head of Twitter? I will abide by the results of this poll.

— Elon Musk (@elonmusk) December 18, 2022

The BBC is not responsible for the content of external sites.View original tweet on Twitter

While the poll was running he replied to one user suggesting there was no replacement chief executive lined up, saying: “No one wants the job who can actually keep Twitter alive. There is no successor.”

The technology tycoon, who also runs electric car maker Tesla and space rocket firm Space X, has faced much criticism since taking over the site.

He has obeyed the results of his Twitter polls in the past and quoted the phrase “vox populi, vox dei”, a Latin phrase which roughly means “the voice of the people is the voice of God”.

Mr Musk bought Twitter for $44bn (£36bn) in October after attempting to back out of the deal.

Since taking control, he has been criticised for his approach to content moderation, with some civil liberties groups accusing him of taking steps that will increase hate speech and misinformation.

On Friday, he was condemned by the United Nations and European Union over Twitter’s decision to suspend some journalists who cover the social media firm. He has also fired about half of Twitter’s staff.

Mr Daisley said through Mr Musk’s activity, you could “get a hint” over what he was thinking through his replies to users.

“He does seem to be quibbling with the vote,” he added.

Mr Musk has also been accused of neglecting his electric car company Tesla, which is where most of his wealth is. Tesla shares have lost more than 60% in value this year, with some saying his obsession with Twitter is destroying the brand.

Last week, Leo KoGuan, the third largest individual shareholder in Tesla, called for Mr Musk to step down as the boss of the electric car maker.

“Elon abandoned Tesla and Tesla has no working CEO. Tesla needs and deserves to have [a] working full time CEO,” he tweeted.

Source link

Business

TC Energy cuts cost estimate for Southeast Gateway pipeline project in Mexico

Published

18 hours ago

November 7, 2024

Anne Joseph

CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.

It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.

The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.

Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.

TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.

The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:TRP)

Source link

Business

BCE reports Q3 loss on asset impairment charge, cuts revenue guidance

Published

18 hours ago

November 7, 2024

Anne Joseph

BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.

The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.

On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.

“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.

“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”

Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.

BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.

The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.

BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.

It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.

The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”

Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:BCE)

Source link

Business

Canada Goose reports Q2 revenue down from year ago, trims full-year guidance

Published

18 hours ago

November 7, 2024

Anne Joseph

TORONTO – Canada Goose Holdings Inc. trimmed its financial guidance as it reported its second-quarter revenue fell compared with a year ago.

The luxury clothing company says revenue for the quarter ended Sept. 29 totalled $267.8 million, down from $281.1 million in the same quarter last year.

Net income attributable to shareholders amounted to $5.4 million or six cents per diluted share, up from $3.9 million or four cents per diluted share a year earlier.

On an adjusted basis, Canada Goose says it earned five cents per diluted share in its latest quarter compared with an adjusted profit of 16 cents per diluted share a year earlier.

In its outlook, Canada Goose says it now expects total revenue for its full financial year to show a low-single-digit percentage decrease to low-single-digit percentage increase compared with earlier guidance for a low-single-digit increase.

It also says it now expects its adjusted net income per diluted share to show a mid-single-digit percentage increase compared with earlier guidance for a percentage increase in the mid-teens.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:GOOS)

Source link