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Twitter board dissolved, leaving Musk as sole director

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Documents filed with the SEC show that Elon Musk is now Twitter's sole director after the company's board was dissolved
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Elon Musk has become Twitter’s sole director after finalizing his $44 billion purchase of the social media site and dissolving its corporate board, documents filed Monday with the US Securities and Exchange Commission (SEC) showed.

The documents state that the “consummation of the Merger” occurred on October 27, at which point “Mr. Musk became the sole director of Twitter,” while the entire board, including CEO Parag Agrawal, were let go.

When he made his initial buyout offer in April, Musk — also the CEO of Tesla and SpaceX — stated that he intended to remove Twitter from the public market, after which fewer public disclosures would be required.

When the unpredictable billionaire tried to walk away from the deal, Twitter sued Musk in a Delaware court.

But with an October trial date looming, Musk revived the deal in early October, ultimately sealing the takeover at $54.20 per share last week.

After changing his Twitter bio to “Chief Twit,” Musk reportedly worked over the weekend with software engineers from Tesla to look under the hood of the social media giant, as well as planning massive layoffs.

He tried to calm the nerves of advertisers, Twitter’s main source of revenue, by reassuring them that the site would not become a “free-for-all hellscape,” and announced the formation of a content moderation council.

The new Musk-led entity formed under the merger agreement has also offered to buy back all of Twitter’s outstanding bonds, according to the SEC filing.

Musk, the wealthiest person in the world, financed the massive deal through a mixture of his own funds, money from other investment groups and loans from banks which will have to be reimbursed.

According to another Twitter document filed with the SEC, Saudi Prince Al-Waleed Bin Talal has become the site’s second largest shareholder. 

The businessman, who had initially rejected Musk’s offer as too low compared to Twitter’s “intrinsic value,” eventually contributed the nearly 35 million shares he already owned.

“Dear friend ‘Chief Twit’ @elonmusk,” wrote Al-Waleed on Twitter last Friday with a statement announcing the rollover of his shares.

“Together all the way,” he added, with an emoji of two hands shaking.

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TikTok suspends rewards programme after EU probe

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TikTok Lite arrived in France and Spain in March allowing users aged 18 and over to earn points that can be exchanged for goods
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TikTok on Wednesday announced the suspension of a feature in its spinoff TikTok Lite app in France and Spain that rewards users for watching and liking videos, after the European Union launched a probe.

The popular video-sharing social media platform, owned by Chinese company ByteDance, said the suspension would remain  “while we address the concerns that they have raised”.

The European Commission’s top tech enforcer, Thierry Breton, said the EU investigation would continue, stating: “Our children are not guinea pigs for social media.”

TikTok Lite arrived in France and Spain — the only EU countries where it is available — in March. Users aged 18 and over can earn points to exchange for goods like vouchers or gift cards through the app’s rewards programme.

TikTok Lite is a smaller version of the popular TikTok app, taking up less memory in a smartphone and made to perform over slower internet connections.

The European Commission on Monday announced an investigation into TikTok Lite, and threatened to have the rewards programme suspended, raising concerns about the risk to users’ mental health.

The commission demanded TikTok provide more information by a Wednesday deadline, along with any defence against the threatened suspension.

Breton said in a statement that “our cases against TikTok on the risk of addictiveness of the platform continue”.

“We suspect that this (rewards) feature could generate addiction and that TikTok did not do a diligent risk assessment and take effective mitigation measures prior to its launch,” he said.

The probe is the EU’s second against TikTok under a sweeping new law, the Digital Services Act (DSA), that requires digital firms operating in the 27 nations to effectively police online content.

In February, the commission opened a formal probe into TikTok over alleged violations of its obligations to protect minors online.

– TikTok squeezed –

TikTok is also under pressure across the Atlantic.

A bill to ban TikTok cleared the US Congress after the Senate on Tuesday approved legislation requiring TikTok to be divested from ByteDance.

TikTok’s CEO, Shou Zi Chew, said the company would fight the law — which he said amounted to a ban — in US courts.

The European Commission has refused to comment on the United States’ move. Instead it has focused on the EU’s legal arsenal to bring big tech into line with its rules.

The move against the TikTok Lite rewards scheme was the latest instance of the EU flexing that legal muscle against online platforms.

It is also investigating tech billionaire Elon Musk’s X, the former Twitter, over alleged illegal content.

TikTok Lite users can win rewards if they log in daily for 10 days, if they spend time watching videos (with an upper limit of 60 to 85 minutes per day), and if they undertake certain actions, such as liking videos and following content creators.

TikTok is among 22 “very large” digital platforms, including Amazon, Facebook, Instagram and YouTube, that must comply with stricter rules under the DSA since August last year.

The law gives the EU the power to hit companies with heavy fines as high as six percent of a digital firm’s global annual revenues. Repeat offenders can see their platforms blocked in the EU.

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In Brazil, hopes to use AI to save wildlife from roadkill fate

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Some 475 million vertebrate animals die on Brazilian roads every year
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In Brazil, where about 16 wild animals become roadkill every second, a computer scientist has come up with a futuristic solution to this everyday problem: using AI to alert drivers to their presence.

Direct strikes on the vast South American country’s extensive road network are the top threat to numerous species, forced to live in ever-closer proximity with humans.

According to the Brazilian Center for Road Ecology (CBEE), some 475 million vertebrate animals die on the road every year — mostly smaller species such as capybaras, armadillos and possums.

“It is the biggest direct impact on wildlife today in Brazil,” CBEE coordinator Alex Bager told AFP.

Shocked by the carnage in the world’s most biodiverse country, computer science student Gabriel Souto Ferrante sprung into action.

The 25-year-old started by identifying the five medium- and large-sized species most likely to fall victim to traffic accidents: the puma, the giant anteater, the tapir, the maned wolf and the jaguarundi, a type of wild cat.

Souto, who is pursuing a master’s degree at the University of Sao Paulo (USP), then created a database with thousands of images of these animals, and trained an AI model to recognize them in real time.

Numerous tests followed, and were successful, according to the results of his efforts recently published in the journal Scientific Reports.

Souto collaborated with the USP Institute of Mathematical and Computer Sciences.

For the project to become a reality, Souto said scientists would need “support from the companies that manage the roads,” including access to traffic cameras and “edge computing” devices — hardware that can relay a real-time warning to drivers like some navigation apps do.

There would also need to be input from the road concession companies, “to remove the animal or capture it,” he told AFP.

It is hoped the technology, by reducing wildlife strikes, will also save human lives.

– ‘More roads, more vehicles’- 

Bager said a variety of other strategies to stop the bloodshed on Brazilian roads have failed.

Signage warning drivers to be on the lookout for crossing animals have little influence, he told AFP, leading to a mere three-percent reduction in speed on average.

There are also so-called fauna bridges and tunnels meant to get animals safely from one side of the road to the other, and fences to keep them in — all insufficient to deal with the scope of the problem, according to Bager.

In 2014, he created an app called Urubu with other ecologists, to which thousands of users contributed information, allowing for the identification of roadkill hotspots.

The project helped to create public awareness and even inspired a bill on safe animal crossing and circulation, which is awaiting a vote in Congress. 

A lack of money saw the app being shut down last year, but Bager is intent on having it reactivated.

“We have more and more roads, more vehicles and a number of roadkill animals that likely continues to grow,” he said.

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Honda to build major EV plant in Canada: govt source

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Honda hopes to sell only zero-emission vehicles by 2040, with a goal of going carbon-neutral in its own operations by 2050
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Japanese auto giant Honda will open an electric vehicle plant in eastern Canada, a Canadian government source familiar with the multibillion-dollar project told AFP on Monday.

The federal government as well as the province of Ontario, where the plant will be built, will both provide some financial incentives for the deal, according to the source, who spoke on condition of anonymity.

The official announcement is due Thursday, though Ontario premier Doug Ford hinted at the deal on Monday.

“This week, we’ve landed a new deal. It will be the largest deal in Canadian history. It’ll be double the size of Volkswagen,” he said, referring to a battery plant announced last year, for which the German automaker pledged Can$7 billion (US$5 billion) in investment.

Canada in recent years has been positioning itself as an attractive destination for electric vehicle investment, touting tax incentives, renewable energy access and its rare mineral deposits.

The Honda plant, to be built an hour outside Toronto, in Alliston, will also produce electric-vehicle batteries, joining existing Volkswagen and Stellantis battery plants.

In January, when news of the deal first bubbled up in the Japanese press, the Nikkei newspaper estimated it would be worth Can$14 billion — numbers backed up by Canadian officials recently.

In the federal budget announced last week, Prime Minister Justin Trudeau’s government introduced a new business tax credit, granting companies a 10 percent rebate on construction costs for new buildings used in key segments of the electric vehicle supply chain.

Canada’s strategy follows that of the neighboring United States, whose Inflation Reduction Act has provided a host of incentives for green industry.

Honda hopes to sell only zero-emission vehicles by 2040, with a goal of going carbon-neutral in its own operations by 2050.

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