- Tunisia votes with Saied set for re-election
- Too hot by day, Dubai's floodlit beaches are packed at night
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- EU court blocks French ban on vegetable 'steak' labelling
- Meta AI turns pictures into videos with sound
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- As EU targets Chinese cars, European rivals sputter
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
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- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
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- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
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- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
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- Climate change, economics muddy West's drive to curb Chinese EVs
- Argentina's Milei vetoes university budget after huge protests
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- 2024 Nobels offer glimmer of hope as global crises mount
- Tokyo rallies on weak yen, Hong Kong reverses after surge
- Tunisia readies for vote as incumbent Saied eyes victory
Musk asks court to halt upcoming Twitter trial
Elon Musk asked a US judge Thursday to halt an upcoming trial over his troubled bid to take over Twitter, after the embattled social media company balked at the Tesla's chief's demand to freeze the litigation.
Musk's request comes two days after he revived his $44-billion takeover plan -- the latest of a whiplash-inducing series of reversals in the high-stakes saga.
Having pulled out of the transaction in July, prompting Twitter to sue him for breach of contract, the unpredictable billionaire on Tuesday offered to reinstate the $54.20-per-share offer -- on condition the Delaware court halt the lawsuit against him.
A trial is scheduled to start on October 17.
"There is no need for an expedited trial to order Defendants to do what they are already doing and this action is now moot," said a filing prepared by Musk's attorneys that alluded to his latest offer.
"Yet, Twitter will not take yes for an answer. Astonishingly they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders interests."
The filing said Twitter had opposed a suspension on the "theoretical possibility" of lack of financing for the transaction, adding that Musk has access to financing to close the deal "on or around October 28."
In a statement, Twitter said its stance was based on Musk's repeated efforts to derail the legislation, saying his latest appeal to the court "is an invitation to further mischief and delay."
The company said Tuesday it expects to close the buyout deal at the $54.20 price agreed in April.
Analysts say the litigation provides leverage to Twitter against the risk of another shift by Musk.
Twitter "thought they had a deal before," said Adam Badawi, a law professor at the University of California, Berkeley. "So to actually accept something from (Musk), it's going to have to be as ironclad as it possibly can.
"But if details (can be) worked out, litigation will be off."
"I imagine Twitter will want to put the $44 billion in escrow, or a very large amount of money, to show his good faith and commitment to actually getting this done," Badawi said.
On Wednesday, Delaware Judge Kathaleen McCormick said she still planned to go ahead with the trial, which was put on a fast track in July.
As of now, Musk is scheduled to be deposed in the case on Monday, CNBC reported.
A serial entrepreneur made rich through his success with Tesla electric cars, Musk began to step back from the Twitter deal soon after it was agreed.
Musk said in July he was canceling the purchase because he was misled by Twitter concerning the number of fake "bot" accounts, allegations rejected by the company.
Twitter meanwhile has sought to prove Musk was contriving excuses to walk away -- simply because he changed his mind.
Y.Tengku--CPN