WASHINGTON, Sept 14 ― The FBI informed Twitter Inc of at least one Chinese agent working at the company, US Senator Chuck Grassley said during a Senate hearing yesterday where...
WASHINGTON, Sept 14 ― The FBI informed Twitter Inc of at least one Chinese agent working at the company, US Senator Chuck Grassley said during a Senate hearing yesterday where a whistleblower testified, raising new concerns about foreign meddling at the influential social media platform.
Still, shares of Twitter rose almost 1 per cent amid a sharp market selloff. The stock moves almost exclusively based on sentiment about whether billionaire Elon Musk will be forced to complete his US$44 billion deal to buy the company, and the Tuesday gain suggested investors did not see any new details that could favour Musk's effort to abandon the deal.
“This was a big internal conundrum,” Zatko said, adding the company was reluctant to turn away from China as the fastest- growing overseas market for ad revenue. Zatko said yesterday he recalled a conversation with another Twitter executive about concerns that a foreign agent was inside the company. The executive responded “Well, since we already have one, what does it matter if we have more?”Grassley noted that Agrawal refused to appear at the hearing for fear it could jeopardise the company's litigation against Elon Musk, who is also the chief executive officer of Tesla Inc.
The deal contract excludes legislative changes that Congress might adopt and Zatko said fines by the FTC are priced into the business. Lipton said that suggests regulatory action against Twitter will not rise to the level of a material event that could nullify the deal agreement.
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