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Twitter valued at $8 billion

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The US micro-blogging website Twitter is gaining value and is now worth an estimated $8 billion, the New York Times reported Friday.

The newspaper, citing two people briefed on the matter, said the popular website is in the process of raising $400 million in a deal that has provided the latest estimation of its value.

The Wall Street Journal had reported a similar deal on Tuesday, putting the company’s valuation at up to $7 billion.

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The Times cited one of its sources as saying that the financing round will be led by DST Global, the investment firm headed by Russian billionaire Yuri Milner, and that previous investors, including the venture capital firm Kleiner Perkins Caufield & Byers, will also participate.

In December, Twitter received an injection of $200 million from investors to help fuel its growth, reportedly giving the San Francisco-based company a valuation of $3.7 billion.

That round of financing was led by Kleiner Perkins Caufield & Byers.

Twitter has fended off several buyers and has repeatedly said it is not considering going public.
Founded in 2006, the company recently announced that Twitter users are sending 200 million tweets a day, up from 65 million a year ago.

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A recent study by the Pew Research Center said 13 percent of online US adults use Twitter, up from eight percent in November 2010. The site has more than 200 million total users.


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Never-before-seen tax docs show Trump’s businesses made themselves seem more profitable to lenders and less profitable to tax officials

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Documents obtained by ProPublica show stark differences in how Donald Trump’s businesses reported some expenses, profits and occupancy figures for two Manhattan buildings, giving a lender different figures than they provided to New York City tax authorities. The discrepancies made the buildings appear more profitable to the lender — and less profitable to the officials who set the buildings’ property tax.

For instance, Trump told the lender that he took in twice as much rent from one building as he reported to tax authorities during the same year, 2017. He also gave conflicting occupancy figures for one of his signature skyscrapers, located at 40 Wall Street.

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‘Make it a twofer’: Trump brutally mocked after claiming ‘rumor has it’ CNN’s president will resign ‘momentarily’

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President Donald Trump unleashed his second attack on the media over the course of less than 24 hours, this time attacking his top news target, CNN, as "a virtual fraud." The president also claimed "rumor has it" CNN's president, Jeff Zucker, "will be resigining momentarily?" (The typo is Mr. Trump's.)

Now that we have found out that @CNN is a virtual fraud, rumor has it that Jeff Zucker will be resigining momentarily?

— Donald J. Trump (@realDonaldTrump) October 15, 2019

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Trump and the end of the American myth of meritocracy

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The following is chock-a-block with spoilers for "Succession" Season 2, including the finale, so proceed with caution.For understandable reasons, the internet is all a-chatter about the final scenes of Season 2 of "Succession." On Sunday's finale, Kendall Roy (Jeremy Strong), who spent most of this season looking like a whipped puppy, finally stuck it to his old man, Logan Roy (Brian Cox), throwing the patriarch under the bus during a live press conference, during which Kendall was supposed to offer himself up as the fall guy for Waystar Royco's criminal behavior. It was a moment of Kendall showing spine and competence, and understandably, audiences cheered him on.
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