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Elon Musk tweeted on Friday that his $44-billion cash deal for Twitter Inc was "temporarily on hold" while he waits for the social media company to provide data on the proportion of its fake accounts. Twitter shares initially fell more than 20% in premarket trading, but after Musk, the chief executive of electric car market Tesla Inc, sent a second tweet saying he remained committed to the deal, they regained some ground. The shares were down 9.6% to $40.71 in trading on Friday, a steep discount to the $54.20 per share acquisition price. Musk, the world's richest person, decided to waive due diligence when he agreed to buy Twitter on April 25, in an effort to get the San Francisco-based company to accept his "best and final offer." This could make it harder for him to argue that Twitter somehow misled him. Since Musk inked his deal to acquire Twitter, technology stocks have plunged amid investor concerns over inflation and a potential economic slowdown. The spread between the … [Read more...] about Musk Says $44 Billion Twitter Deal On Hold Over Fake Account Data

Listen to this article It’s a bit quiet at Jaguar these days, at least on the surface. The luxury brand has a new special edition sports car coming soon but it won’t launch a brand new model until 2024. This doesn’t mean nothing is happening behind the curtains, though. The long period will be used by Jag’s new boss Thierry Bolloré, who became the company’s CEO about two years ago, and his team to work on a strategy that should make Jaguar an exotic luxury automaker almost touching Bentley territories. Gallery: Jaguar F-Pace SVR Edition 1988 19 Photos As part of this plan, Jaguar will reportedly launch no fewer than three high-end luxury SUVs around the middle of the decade . The flagship trio will be based on a brand new platform and will be powered exclusively by electric systems. The entry-level model among these three zero-emissions utilities will be … [Read more...] about Jaguar To Launch Three High-End Electric SUVs: Report

Listen to this article Several screens are becoming a trend among vehicle interiors these days – luxury and mainstream segments alike. It seems as if the increased size and number of screens make a car look more premium and luxurious. DS Design Chief Thierry Métroz begs to differ, as he thinks that having too many screens is not sexy and is "a little bit stupid." "It's a big trend at the moment to have screens, but I think it's a little bit stupid, because in fact to have not any more dashboard, only a big screen, isn't our philosophy inside DS," Métroz told Autocar . Gallery: DS 7 facelift live photos 17 Photos In fact, Métroz is keen on removing all screens on future DS models. "Our target is to delete all the screens in our future interiors," he said. "The problem with the screen is when you switch off your screen, you’re just left with a rectangular … [Read more...] about DS Design Boss Wants To Get Rid Of All Screens In Future Interiors

Mercedes-Benz is adjusting its network of plants to  manufacture a new range of luxury electric vehicles as it prepares to switch to electric by the end of the decade. Mercedes aims to halve CO2 emissions per passenger car over the life cycle by the end of this decade compared to 2020. "We are ready for the rapid scaling of electric vehicle volumes," said Joerg Burzer, board member for production and supply chain, adding the new setup followed talks between management and worker representatives. Plants in Sindelfingen, Bremen, Rastatt - all in Germany - and Kecskemet, in Hungary, will start production of new models in the top end luxury, core luxury and entry luxury segments from the middle of the decade, said Mercedes. Battery systems will be supplied by a production network with factories in three continents, it said. "The local production of battery systems is a key success factor for the Mercedes-Benz electric ramp-up and a decisive component in being able to meet the … [Read more...] about Mercedes Readies Plants To Produce Electric Vehicles

Home Car reviews oi-Stephen Gershom By Stephen Gershom Published: Thursday, June 30, 2022, 10:00 [IST] Not so long ago, Mahindra was a manufacturer of basic and rugged vehicles that boasted the capability to go anywhere in any condition while discounting a luxurious cabin altogether. Now though, things have changed. The latest SUVs made by Mahindra boast almost the same levels of ruggedness while having a cabin that is thousand times more luxurious. This sea change started with the launch of the first-gen Mahindra Scorpio back in 2002. Yes, it was exactly two decades ago, that the Scorpio turned things around for Mahindra. Back then, the Scorpio was an SUV that boasted an interior that one never thought would be seen on a Mahindra, and yet it boasted the go-anywhere capability and an engine that would last a million kilometres. The Scorpio brand grew over the years, with newer iterations coming into the picture. The … [Read more...] about Mahindra Scorpio-N Review — The Scorpio Becomes A Game-Changer, Once Again

Williams will bring an upgraded aerodynamic package for their home race this weekend, but it will only be available for one of the team’s two drivers. Advert | Become a Supporter & go ad-free Alexander Albon , who has scored all of the team’s three points so far this year, will run the upgraded parts on his FW44. Nicholas Latifi will continue to drive the team’s car in its previous specification. “We have an updated aero package for this weekend, which will run on Alex’s car only as we look to check its behaviour and confirm that it is working as intended,” the team’s head of vehicle performance Dave Robson confirmed. “The bodywork and floor form the basis of the upgrade and are intended to efficiently increase the downforce of the car.” Robson said it is important the team makes progress with its development package this weekend as its opportunities to test it in practice at next week’s Austrian Grand Prix will be more limited. “The new parts… are likely to … [Read more...] about Williams to bring upgrade for Albon’s car only at Silverstone · RaceFans

Three-times Formula 1 world champion Nelson Piquet has issued an apology to Lewis Hamilton over a comment he made about the driver last year which recently gained widespread attention. Advert | Become a Supporter & go ad-free However Piquet denied he intended any racial connotations in his remark, which he claims was mistranslated in some media coverage. “I would like to clear up the stories circulating in the media about a comment I made in an interview last year,” said the 69-year old in a statement. “What I said was ill thought out, and I make no defence for it, but I will clarify that the term used is one that has widely and historically been used colloquially in Brazilian Portuguese as a synonym for ‘guy’ or ‘person’ and was never intended to offend. I would never use the word I have been accused of in some translations. I strongly condemn any suggestion that the word was used by me with the aim of belittling a driver because of his skin colour. … [Read more...] about Piquet apologises to Hamilton but insists he did not intend comment as racial slur · RaceFans

WASHINGTON -- A former White House official revealed explosive new details Tuesday about President Donald Trump's actions on Jan. 6, 2021, telling Congress that he knew his supporters were carrying weapons, insisted on personally leading the armed mob to the Capitol, physically assailed the senior Secret Service agent who told him it was not possible, expressed support for the hanging of his own vice president, and mused about pardoning the rioters. The testimony of Cassidy Hutchinson, who was an assistant to then-White House Chief of Staff Mark Meadows, was the most chilling to date in the House select committee's Jan. 6 investigation. Recounting granular detail and private dialogue, she presented to the public a penetrating account of Trump's actions and mind-set as the Capitol came under siege from his own supporters, who were determined to stop the counting of electoral votes and impede the certification of Joe Biden's victory. Testifying alone, her appearance punctuated by … [Read more...] about Trump sought to lead armed mob to Capitol on Jan. 6, aide says

This is a carousel. Use Next and Previous buttons to navigate 8 MADRID (AP) — President Joe Biden said Wednesday that the U.S. will significantly increase its military presence in Europe for the long haul, including by establishing its first permanent presence in Poland, to bolster regional security after Russia’s invasion of Ukraine. Meeting with NATO Secretary-General Jens Stoltenberg at the opening of the alliance’s annual leaders' summit in Madrid, Biden said “NATO is strong and united" and that steps to be taken during the gathering will “further augment our collective strength.” The White House said Biden's commitments mean the U.S. will maintain a presence of 100,000 troops in Europe, up 20,000 from the levels before the Ukraine war began, for the “foreseeable future.” Biden opened his participation in the summit by announcing the permanent basing of a U.S. military garrison in Poland. He also said the U.S. is … [Read more...] about US to boost military presence in Europe for Russia threat