Technology News

Twitter and Elon Musk are set to reach an out of court settlement soon after the world's richest man tried to back out of the acquisition.

While Musk will provide much of the funding after selling down his stake in electric vehicle maker Tesla Inc and by leaning on equity financing from large investors, major banks have committed to provide $13 billion.

Apollo Global Management and Sixth Street Partners will not be providing financing for Elon Musk's acquisition of Twitter.

Following a GM petition as well as a June crash involving an autonomous vehicle, the City and County of San Francisco said in its comments GM and Cruise failed to provide sufficient data and fell "short of documenting or analyzing the safety performance" of the self-driving vehicles.

Musk has been for long talking about creating a super app called X for which Twitter will provide the underlying architecture.

Led by current Renault China CEO Soh Weiming and backed by Renault and Dongfeng Motor, two-year-old Beyonca plans to unveil its first production car in the first quarter of next year with deliveries from 2024, Soh told Reuters.

Details are sketchy around who all have backed Elon Musk's $44 Billion takeover of the social media network.

The CyberQuad has been recalled because of potential safety issues.