On Saturday (July 15), Elon Musk revealed that Twitter is struggling with a “heavy debt load” due to advertising revenue dropping 50 per cent. Responding to a user seemingly giving financial business advice to Musk, the billionaire replied explaining that the company is “still in negative cash flow, due to ~50 per cent drop in advertising revenue plus heavy debt load. Need to reach positive cash flow before we have the luxury of anything else.” Back in April, Musk had said Twitter was “roughly breaking even,” as most of its advertisers had returned. However, a New York Times report in early June found that Twitter’s revenue from US advertising was down 59 per cent from the previous year. Since taking over Twitter in October last year, Musk has faced constant scrutiny for his business decisions, cutting roughly 75 per cent of its workforce almost immediately, as well as reinstating users who were previously banned for breaking terms of service. Sign up to our free Indy100 weekly newsletter In May, Musk hired a new CEO, Linda Yaccarino, an ex-NBCUniversal advertising executive. The new hire was supposed to signal a fresh start for the platform under Musk’s ownership, but it clearly hasn’t worked in bringing previous advertisers back. Twitter has also caused new upset by imposing ‘rate limits’ on how many tweets users can view a day. At the time, Musk had said the restrictions were required to “address extreme levels of data scraping & system manipulation”. Another challenge that faces Twitter is Meta’s Threads, the new app it launched this week to compete with Twitter. Meta saw over 100 million users sign up in the first two weeks, but is yet to allow advertisers to host on the platform, despite interest. In response, Twitter threatened legal action, with Twitter’s attorney, Alex Spiro, accusing Meta for unlawfully using trade secrets and other intellectual property to create a “copycat” app. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

Michael Milmerstadt died due to a brain injury in March and his family donated his organs to save the lives of others

'Here's a tip, Taylor. Their names are on the back of the shirts', said Stephen Colbert

US attorney David Weiss, who has led the Hunter Biden criminal probe, has offered to testify at a public congressional hearing this fall, according to a letter sent to lawmakers on Monday.

Nearly two years after 10 people were crushed to death during the deadly 2021 Astroworld festival in Houston, no charges have been filed despite at least some people, including workers, expressing safety concerns about the event

The Senate Judiciary Committee will vote on a new ethics code for the Supreme Court, an attempt to respond to recent revelations about justices’ interactions with wealthy donors and others

Ever wanted to travel back in time? Well, now you can! (Kind of) You see, whilst the world largely uses the Gregorian calendar, introduced in 1582 by Pope Gregory XIII, some countries have different ways of dividing the year, such as Ethiopia. Prior to the Gregorian calendar most of the Roman World and Europe used the Julian calendar, introduced by Julien Caesar in 45 BCE. The reason the Julian calendar was phased out and replaced is because it was slightly out of sync with the Earth's orbit around the Sun. The transition was not easy, spanning hundreds of years and meaning countries lost between 10 and 13 days. In Ethiopia it is currently 2016 (maybe someone should warn them of what's to come?) Ethiopians follow a 13 month calendar - Meskerem, Tikimt, Hidar, Tahsas, Sir, Yakatit, Maggabit, Myazya, Ginbot, Sene, Hamle, Nehasa, and Pagume. 12 of the months consist of exactly 30 days each, with the final month having five or six days, depending on whether it's a leap year. The time of day is different to how most us understand it too, with the day divided into two 12-hour halves that begin at 6am rather than midnight. The reason it's currently 2016 in Ethiopia goes back to 500 CE. In 500 CE, the Catholic Church changed its calculations of when Jesus was born, but the Ethiopian church did not, and as an extra side bonus this places their new year on the Gregorian September 11. Due to never being colonised, Ethiopia continued to use the older calculations resulting in them living in 2016. Sign up to our free Indy100 weekly newsletter Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

Suad Mohamed Ali was charged with one count of first-degree murder while committing child abuse

Actor and philanthropist Michael J

Alan Arkin, who died at the age of 89, shared a special bond with Abigail Breslin during their time working together on the 2006 comedy-drama

According to reports, Judith and Natalie Raanan have already arrived in Egypt and are supposedly in the care of the International Red Cross

Twenty-seven suspected gang members have been arrested and nearly 150 pounds of drugs have been seized as part of a months-long investigation into organized crime in Los Angeles, law enforcement announced Monday.