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Elon Musk has informed banks that he will limit Twitters compensation and use tweets to generate revenue
According to three individuals familiar with the situation, Elon Musk promised banks that agreed to help fund his $44 billion acquisition of Twitter Inc that he may cut executive and board compensation at the social media business to minimize expenses, and that he would discover new methods to monetize tweets.
According to the individuals, Musk made the pitch to bankers as he attempted to arrange funding for the buyout days after submitting his bid to Twitter on April 14. His financial pledges, which he submitted on April 21, were crucial in Twitter’s board accepting his “best and last” bid.
Musk would have to persuade banks that Twitter’s cash flow was sufficient to cover the loan he was seeking. In the end, he received $13 billion in loans guaranteed by Twitter, as well as a $12.5 billion margin loan secured by his Tesla equity. He promised to pay the remaining amount out of his pocket.
Asper to the sources, Musk’s pitch to the banks was more of a vision than a definite pledge, and the precise cost reduction he would seek once he buys Twitter is unknown. According to the sources, the proposal he detailed to banks lacked specificity.
Musk has tweeted about cutting the wages of Twitter’s board directors, which he claims will save the company $3 million. According to corporate documents, Twitter’s stock-based compensation for the 12 months ended December 31, 2021, was $630 million, up 33% from 2020.
Musk also used Twitter’s gross margin, which is substantially lower than peers like Meta Platform Inc’s Facebook and Pinterest, in his presentation to the banks, claiming that this gives plenty of room to run the firm more cost-effectively.
Because the topic is private, the sources requested anonymity. Musk’s spokesperson declined to comment.
According to Bloomberg News, Musk expressly highlighted job cutbacks in his pitch to the banks on Thursday. According to one of the insiders, Musk will not make any decisions about employment layoffs until he takes control of the firm later this year. He moved forward with the purchase despite not having access to private information about the company’s finances or headcount.
According to the individuals, Musk told the banks that he wants to build features to boost company income, including new methods to monetize tweets that contain significant information or go viral.
Elon Musk, according to sources familiar with him, will assist banks in selling syndicated loans to investors. According to reports, he may also reveal additional specifics about his Twitter business strategy later this year. The premium Blue service from Facebook now costs $2.99 ($3.99) per month. He has also hired a new CEO for Twitter, according to Reuters sources close to the company. Because of Musk’s unpredictability, several banks declined to participate in a $13 billion margin loan, according to the sources. By 2022, the loans would be worth seven times Twitter’s estimated revenues.
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Mumbai Airport Asks 12 International Airlines to Shift Operations to Navi Mumbai
Airlines may move flights to Navi Mumbai International Airport from summer 2027 as Mumbai airport prepares for Terminal 1 redevelopment.
The Shift
Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) has asked 12 international airlines to temporarily shift their flight operations to the Navi Mumbai International Airport (NMIA) from the summer schedule of 2027.
The move comes as Mumbai airport prepares for the redevelopment of Terminal 1, which will affect its existing flight-handling capacity. Out of 50 international airlines that requested flight slots for the summer schedule, the airport has allocated slots to 38 airlines. The remaining 12 have been asked to consider operating from Navi Mumbai.
The affected airlines operate flights to 14 international destinations, including Bahrain, Dammam, Doha, Jeddah, Kuwait City, Muscat, Riyadh, Sharjah, Kathmandu and Dhaka.
According to reports, the proposed shift could affect around five million passengers annually, while nearly 91% of Mumbai airport’s existing passenger traffic will remain unaffected. The Terminal 1 redevelopment project is expected to increase its annual passenger-handling capacity from 15 million to 20 million. Construction is scheduled to begin in January 2027 and is targeted for completion by March 2029.
Mumbai airport has assured airlines that their existing flight slots will be restored after the redevelopment work is completed. The move is aimed at distributing flight operations between Mumbai and Navi Mumbai airports while maintaining smooth passenger services during the construction period.
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NMMC Sets Up Special Helplines for Diwali Firecracker Pollution Complaints
Residents can report noise pollution, illegal firecracker sales and violations of permitted bursting hours through ward-wise and toll-free helplines.
The Helplines
The Navi Mumbai Municipal Corporation (NMMC) has introduced a special complaint system to address noise and air pollution caused by firecrackers during Diwali. The civic body has announced separate helpline numbers for all eight administrative wards, along with two toll-free numbers for residents to register complaints.
The facility covers Belapur, Nerul, Vashi, Turbhe, Koparkhairane, Ghansoli, Airoli and Digha. Residents can report loud firecrackers, illegal sales and violations of pollution control guidelines.
As per the Bombay High Court’s directions issued on October 15, 2026, firecrackers are permitted only between 7 pm and 10 pm. Crackers producing noise above 125 decibels are prohibited. Firecrackers containing harmful chemicals such as barium, lithium, arsenic, lead and mercury are also banned.
The NMMC has urged citizens to follow the prescribed timings and avoid excessive use of firecrackers, highlighting the health risks associated with rising air and noise pollution during the festive season.
Residents can contact the following numbers for complaints:
- Belapur: 8976954881
- Nerul: 8976954882
- Turbhe: 8976954883
- Vashi: 8976954884
- Koparkhairane: 8976954885
- Ghansoli: 8976954886
- Airoli: 8976954887
- Digha: 8976954889
Toll-free helplines: 1800222309 / 1800222310
NMMC Commissioner Dr Kailas Shinde has appealed to residents to celebrate an eco-friendly Diwali and help keep the city pollution-free.
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Cab Driver Confronted for Allegedly Spitting Gutkha on Palm Beach Road
Residents question the driver over littering in public, prompting him to clean the stain; video of the incident goes viral on social media.
The Gutkha
A cab driver was confronted by a woman resident for allegedly spitting gutkha on Palm Beach Road in Navi Mumbai. A video of the incident has gone viral on social media, showing the driver eventually cleaning the spot after being questioned by residents.
The incident reportedly took place when a woman noticed the driver spitting gutkha on the road near his vehicle. She questioned him and asked him to clean the area. However, the driver initially denied the allegation and refused to take responsibility.
The argument intensified when two security guards joined the discussion and questioned the driver. The woman also pointed out that spitting in public places is punishable and can attract fines.
After initially refusing, the driver eventually poured water from a bottle and cleaned the gutkha stain from the road.
The video, shared on social media by Richa Sameet, has triggered discussions about civic sense and the responsibility of citizens to maintain cleanliness in public spaces.
The incident has also highlighted the problem of people spitting tobacco and gutkha on roads and other public places, despite rules against such practices. Residents have stressed the need for greater public awareness and responsible behaviour to keep Navi Mumbai clean.
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