A Twitter deal is dealing with a major sluggish setback

A Twitter deal is dealing with a major sluggish setback ...

Elon Musk's social media presence has prompted fresh pressure on Twitter, as the world digests the information about how his speech might be affected on the social media site.

The Twitter/Musk agreement is now being examined by major regulators.

Elizabeth Warren, Musk's regular sparring partner, commented on the agreement on April 25; she said it requires much more scrutiny.

"It's dangerous because one billionaire decides how millions of people will have the opportunity to communicate with each other," Warren said in a statement following the sale.


On a Twitter deal, American legislators are zipped.

The Twitter agreement has also enlisted the approval of Republican lawmakers, 18 of whom submitted a request to preserve all records related to the deal.

Following President Donald Trump, Republicans found Twitter a useful recruiting and media tool.

Republicans are keeping a close eye on the agreement's approval, and have indicated that they will make it a priority if they take back the House during the midterm elections in November.

Whats new about other regulators, including antitrust regulators and regulatory bodies like the Federal Trade Commission, remains to be seen.

It appears to me that he has a substantial stake in two transportation companies at the moment, William Kovacic, a former chairman of the Federal Trade Commission, said. It's difficult to see how Twitter has much to do with either of them.

Others, including those interested in the market and involved in regulatory circles, disagreed, with Bill Baer, the former antitrust expert, claiming that the Justice Department should "look hard to see if there is a danger to competition and consumers."

TheStreet Recommands

Warren supported the assessment and put it into a Republican talking point, claiming that the purchase of Twitter is anathema to free market principles.

"Concentration of power means less competition, and ultimately means that just one or a handful of people are deciding who talks, who gets heard, and who is shut down," Warren said in a statement on April 25.

Across the Pond, consternation wanes.

Musk's buyingout of Twitter has hat jeopardized international regulators, particularly in Europe.

Zac Goldsmith, the UK's Pacific Economic Cooperation Minister, said that the agreement may bring a profound change in how Twitter is handled and how speech is expressed there.

European authorities have skept the firm after years of attempts to collect user data.

The European Union has also passed the Digital Services Act (DSA), which is designed to make platforms more effective and effective in eliminating harassment, hate speech, and harmful material.

"We are open but on our limitations," says Thierry Breton, a member of the European Commission.

'Elon, there are rules," says the king. "You are welcome, but these are our rules. This is not your rules which will apply here."

Breton emphasized that Musk has a significant advantage in the European Union. He also possesses a variety of advantages in Berlin, where he operates one of Tesla's Gigafactories, and therefore should be prepared to adapt to foreign regulations.

Despite the fact that Twitter may not comply with EU standards freely, legislators have already warned that they have penalties set up and ready to go to the company to monitor them.

"If [Twitter] does not comply with our legislation, there are sanctions, which means 6% of the revenue and are, if they continue, prohibited from operating in Europe," Breton told the Financial Times.

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