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On June 29, the Iraqi Foreign Minister stated his willingness to mediate between the US and Iran to end the war. Speaking at a joint press conference with the Iranian Foreign Minister in Baghdad, the Iraqi Foreign Minister said, "Iraq maintains good relations with both the United States and Iran, and we are prepared to cooperate with both sides to resolve this conflict." He added that Iraq had previously successfully established cooperative relations between Iran and the United States. He pointed out that despite the memorandum of understanding signed between Iran and the United States, the conflict in the Strait of Hormuz continues. He said, "The war must end because it will lead to the destruction of the entire region, not just one country."No casualties have been reported in the 5.5-magnitude earthquake that struck Gao County, Yibin City, Sichuan Province.June 29 – Iranian Foreign Ministry: Iranian Foreign Minister Araqchi met and held talks with the Iraqi Prime Minister in Iraq on Sunday noon. During the meeting, Araqchi emphasized Irans determination to strengthen and expand relations with Iraq in various fields, and believed that cooperation between the two countries in the political, economic, security, commercial, cultural, and people-to-people spheres is in the common interest of both countries and contributes to enhancing regional stability and security. Araqchi also outlined the latest diplomatic developments aimed at ending the US-Israel war against Iran, and stressed the need for all regional countries to commit to maintaining security and peace, particularly preventing aggressors from using their territory and facilities to launch illegal attacks against Iran.On June 29, Russian President Vladimir Putin stated that car owners and businesses continue to face fuel supply difficulties, with long queues forming at gas stations across the country. Affected by the shutdown of several refineries, Russia is implementing measures to stabilize the domestic market. Putin confirmed that a complete ban on diesel exports is one of the alternatives currently under discussion. Following a meeting on Friday with oil producers and government departments, the Russian Energy Ministry did not recommend implementing a diesel export ban, citing concerns that it could lead to problems such as diesel inventory buildup. The government will reassess the market situation on Monday.Russian President Vladimir Putin: Long lines are forming at gas stations across the country, and gasoline is sometimes in short supply.

Musk Plans to Double Twitter's Annual Revenue to $26.4 Billion by 2028

Aria Thomas

May 07, 2022 10:09

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Elon Musk aims to grow Twitter (NYSE:TWTRannual )'s revenue to $26.4 billion by 2028, up from $5 billion last year, according to a pitch deck delivered to investors, as reported by The New York Times on Friday.


According to the research, advertising will account for 45 percent of overall revenue under Musk, down from 90 percent in 2020, creating $12 billion in revenue in 2028, while subscriptions would provide an additional $10 billion.


According to the presentation, the CEO of electric vehicle manufacturer Tesla (NASDAQ:TSLA) Inc also intends to raise Twitter's cash flow to $3.2 billion in 2025 and $9.4 billion in 2028.


Musk closed a deal to acquire Twitter for $44 billion in cash last month, thereby gaining control of the social media site populated by millions of users and world leaders.


The billionaire has pledged to resuscitate the company and increase its user base by cracking down on spam bots and eliminating moderation to allow for more "free speech."


Musk is poised to become Twitter's interim CEO following the closing of the purchase, a source familiar with the subject told Reuters on Thursday.


According to a memo obtained by the New York Times, Musk expects the social media company to generate $15 million from a payments business in 2023, which will increase to approximately $1.3 billion by 2028.


According to the report, Musk believes he can improve Twitter's average revenue per user to $30.22 in 2028 from $24.82 last year. He also anticipates that Twitter will have 11,072 employees by 2025, up from approximately 7,500 today.


According to the New York Times, Twitter Blue, the company's premium membership service established last year, is projected to have 69 million subscribers by 2025.


Musk recommended last month, in a now-deleted post, a number of modifications to the social media giant's Twitter Blue premium subscription program, including a price reduction.


Musk identified on Thursday a group of prominent investors willing to offer $7.14 billion in finance for his Twitter proposal, including Oracle (NYSE:ORCL) co-founder Larry Ellison and Sequoia Capital.


Musk has boosted the finance commitment to $27.25 billion, which includes commitments from 19 investors, and decreased the margin loan connected to his Tesla stock from Morgan Stanley (NYSE:MS) to $6.25 billion. He has already had loan pledges for $13 billion secured by Twitter shares.


Musk was unavailable for comment. Twitter did not react immediately to a request for comment from Reuters.