Sheila Dang

Snap Inc on Thursday painted a grim picture of the effects of a weakening economy on social media and declined to make a forecast in "incredibly challenging" conditions, sending its shares down 25% and setting off a chain reaction of stocks among rivals.

Wall Street is bracing for the slowest global revenue growth in the history of the social media sector, as intensifying competition from TikTok and Apple in advertising threaten to compound economic woes in the second quarter.

Elon Musk filed a motion on Friday opposing Twitter Inc's request to fast-track a trial over his plan to terminate his $44 billion deal for the social media firm.

One by one, over the last week of May, Twitter Inc rang up some members of its incoming class of new hires who had recently graduated from college and revoked the job offers in 15-minute calls, according to some of the recipients.

Elon Musk addressed Twitter employees for the first time on Thursday, expressing his view that Twitter would need to cut its headcount, but offering few other new details about his $44 billion planned takeover of the social media company.

Twitter is gearing up for its most ambitious quarter of user growth, leaders of the social media company's consumer products division told staff in an internal meeting on Tuesday that was heard by Reuters.

After unprecedented revenue growth last year, digital platforms including Alphabet Inc, Meta Platforms Inc, Snap Inc and Twitter Inc now face a sobering reality as pandemic-driven advertising trends dissipate, according to an analyst report on Thursday.

Twitter Inc investors blocked the re-election of an ally of Elon Musk to the board at an annual meeting on Wednesday that avoided the biggest question for the social media company: will it complete a $44 billion sale to the billionaire.

Twitter Inc will face skeptical shareholders on Wednesday during its annual meeting, as doubt remains over whether the social media company will complete its deal to be acquired by billionaire Elon Musk at the agreed-upon price.

Twitter Inc investors voted in favor of creating reports on electoral spending and on risks of using concealment clauses at a meeting on Wednesday that avoided the biggest question for the social media company: will it complete its deal to be acquired by billionaire Elon Musk for $44 billion.

Snap Inc expects to miss its quarterly revenue targets, the company said in a filing on Monday, and will slow hiring for this year, Chief Executive Evan Spiegel told employees.

Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an after-hours sell-off.

Two senior Twitter leaders who oversee the consumer and revenue divisions will depart the social media company, Chief Executive Officer Parag Agrawal told employees in a memo on Thursday, in one of the biggest shake-ups at the company since billionaire Elon Musk announced he would buy it for $44 billion.

Twitter Chief Executive Parag Agrawal announced in an email to employees on Thursday, which was seen by Reuters, that the company's leaders for the consumer division and revenue will depart the social media company.

Elon Musk's $44 billion deal to take Twitter Inc private could mark the end of the social media platform's advertising business, many in the ad industry have worried.

Tesla Inc is open to buying a mining company if producing its own supply of electric vehicle (EV) metals would speed up worldwide adoption of clean energy technologies, Chief Executive Officer Elon Musk said on Tuesday.

Billionaire Elon Musk said on Tuesday he would reverse Twitter's ban on former U.S.

Twitter Inc will face a skeptical audience when it showcases its advertising opportunities on Wednesday evening at an event in New York City, three ad agency executives told Reuters, as the social media company's plans under billionaire Elon Musk remain unclear.

Twitter Inc faced a skeptical audience as it showcased its advertising opportunities on Wednesday at an event in New York City, three ad agency executives told Reuters, as the social media company's plans under billionaire Elon Musk remain unclear.

Twitter Inc estimated in a filing on Monday that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter.

Snap Inc on Thursday forecast a rosy outlook for user growth on its Snapchat app, but said supply-chain disruptions and inflation could continue to hurt advertising demand.

Snap Inc reported better-than-expected first-quarter user growth on Thursday while it missed expectations on revenue, as the parent company of Snapchat said supply-chain disruptions and the invasion of Ukraine hurt advertising demand.

Gaming companies FlickPlay and The Sandbox announced a new partnership on Monday that will allow players to use a blockchain asset on both platforms, representing a key step in the building of the metaverse.

News of Tesla Chief Executive Elon Musk taking a board seat at Twitter has some Twitter employees panicking over the future of the social media firm's ability to moderate content, company insiders told Reuters.

Meta Platforms Inc will make it easier for brands to run three-dimensional ads on Facebook and Instagram through a new partnership with an ecommerce technology firm.

AT&T Inc expects to invest about $48 billion through the end of 2023 to expand its fiber internet and 5G wireless services, the U.S.

Russian state-controlled news network RT said on Thursday it will begin broadcasting on Rumble, a YouTube-like video site, after tech companies including Meta Platforms and Twitter have restricted access to RT following Russia's invasion of Ukraine.

Twitter Inc is expanding its crowdsourced fact-checking program by making notes on potentially misleading tweets visible to more people on Twitter, the company said in a blog post on Thursday.

Online message board platform Reddit Inc said on Thursday it is launching a new Discover tab that will feature photos and videos from across the site to make its mobile app more visually appealing.