Elon Musk will force companies on X to pay at least $1,000 (£770) per month in order to keep their verified status on the platform. From 7 August, any brand that does not pay the fee to the company formerly known as Twitter will lose the gold check mark that appears next to the account name. The latest strategy, which was first reported by The Wall Street Journal, comes amid declining ad revenues and fresh competition from text-based platforms launched by Meta and TikTok. Mr Musk responded to the report by stating that brands could also pay $1,000 per month for a verified organisation subscription. “This more than pays for itself in organic reach,” he posted on X. “The reason for the $1,000/ month is to set a moderately high bar to be a verified org, so that an org must be of non-trivial size to qualify and to make it expensive for scammers to create millions of accounts.” Earlier this month, the tech billionaire revealed that the company was suffering from negative cash flow issues after advertising revenue dropped by 50 per cent following his $44 billion takeover of the platform. Mr Musk has undertaken aggressive cost-cutting measures, which included firing more than 6,000 employees. He has also appointed former advertising executive Linda Yaccarino as the firm’s CEO in an effort to woo advertisers. The rebranding from Twitter to X could also open up new revenue streams, with Mr Musk planning to transform the social network into an “everything app” similar to China’s WeChat. X has already secured money-transmitting licences in three US states, which will allow payments to be integrated into the platform. Ms Yaccarino said on Monday that she believed X represented “the future state of unlimited interactivity”, integrating audio, video, messaging, and the ability to book and pay for goods and services. Powered by AI, X will connect us all in ways we’re just beginning to imagine,” she posted on X. “For years, fans and critics alike have pushed Twitter to dream bigger, to innovate faster, and to fulfil our great potential. X will do that and more.” Read More What is Elon Musk’s ‘everything app’ X? Elon Musk takes control of @X account from user who had held it for 16 years Elon Musk’s ‘X’ is already trademarked by Mark Zuckerberg What is Elon Musk’s ‘everything app’ X?

European stocks opened lower as chip stocks were dragged down by Taiwan Semiconductor Manufacturing Co. outlook cut, while

Shares of Pioneer Natural Resources surged more than 10 percent Friday following reports the shale producer is nearing a megadeal...

Brad Pitt has halted filming on his Formula One movie, in solidarity with those taking part in the SAG-AFTRA strike.

One of Fox News' top hosts said that many of the world's problems would be solved if women were to vanish from the planet.

Facing a tough division opponent on a short week, the Seattle Seahawks couldn’t afford to be sloppy, ineffective or get off to a slow start

MEDFORD, Mass.--(BUSINESS WIRE)--Nov 15, 2023--

Algerian President Abdelmadjid Tebboune has dismissed the prime minister and replaced him with the head of his cabinet ahead of national elections next year and at a time when economic anxieties are running high

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Reese’s may be violating state and federal laws with a sweepstakes offer currently advertised on packs of peanut butter cups

Brighton and Aston Villa have been cleared by UEFA to compete in Europe in the coming season after “significant changes” were made to comply with multi-club ownership rules. UEFA’s Club Financial Control Body (CFCB) had opened proceedings against the Seagulls and Belgian club Union St Gilloise – as well as Villa and Portuguese side Vitoria Guimaraes – due to a potential conflict with the multi-club ownership rule. However, UEFA said the CFCB has now accepted the clubs’ admission to European competition. It found that, as of Friday, none of the clubs, either directly or indirectly, held or dealt in securities or shares of any other club participating in a UEFA club competition, or is a member of any other club. It found in these cases no one had any power whatsoever or is simultaneously involved, directly or indirectly, in any capacity whatsoever in the management, administration or sporting performance of more than one club, and that no one had control or decisive influence over more than one club in a UEFA club competition. UEFA said “the significant changes” made “substantially restrict the investors’ influence and decision-making power over more than one club, ensuring compliance with the multi-club ownership rule”. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live

House Republicans are taking up a series of pro-law enforcement bills this week, as the party grapples with cutting funding to federal law enforcement agencies.