A Delaware judge on Thursday paused Twitter's upcoming trial against Elon Musk until 5pm on Oct. 28 to allow the Tesla CEO to close his proposed acquisition of the social media company.
Driving the news: "If the transaction does not close by 5 p.m. on October 28, 2022, the parties are instructed to contact me by email that evening to obtain November 2022 trial dates," Judge Kathaleen St. Jude McCormick wrote in the court filing.
Elon Musk on Thursday asked Delaware Chancery Court to stay the trial over his proposed $44 billion takeover of the social media giant, adding that the deal could close on or around Oct. 28.
What to know: This is a necessary step toward moving the merger forward, but doesn't mean much until and unless Twitter files its own motion requesting a stay.
Lulu Cheng Meservey is stepping down from the board of Activision Blizzard to join the company as its executive vice president, corporate affairs and chief communications officer starting today.
Why it matters: Meservey, who left Substack as VP of communications in August, steps into a newly created role that will be critical to helping Activision shape its image to the public and to regulators.
Celsius Network's financial statements show a history of executives making withdrawals in the weeks leading up to the crypto lender's decision to halt customer withdrawals and file for Chapter 11 bankruptcy protection.
Why it matters: The crypto lender has time and again insisted that it operates with "the entire community and all clients in mind," yet the numbers, according to Celsius documents, tell a different story.
Just as the prime brokerage business in crypto was starting to see some traction, the rug was pulled out from under it.
Why it matters: For the crypto market to go from a trillion to "trillions," it needs prime brokerage — the business that facilitates sophisticated trading and draws the Big Money crowd, like hedge funds.
Google on Thursday announced the Pixel 7 Pro and Pixel 7 smartphones, which feature an updated Google Tensor processor, along with the Pixel Watch. It had previewed the three products earlier this year.
Why it matters: Google's hardware effort is growing into a more full-fledged business, and the company is counting on the new crop of gear to help it compete against the latest devices from Apple.
Several robotics companies, including Boston Dynamics, are pledging not to support the weaponization of their products and are calling for others in the industry to do the same, according to a letter shared first with Axios.
Why it matters: Robots, like drones before them, have a wide range of peaceful and even life-saving uses, but can be turned into war-fighting machines, too.
The Supreme Court's Monday announcement that it would rule on a pair of challenges to a foundational law governing online speech set off internet experts' earthquake alerts.
Why it matters: A decision by the court to alter or strike down the law, Section 230 of the 1996 Communications Decency Act, would rock the legal landscape for every company or organization whose work involves contributions from users — not just social networks but online marketplaces, review sites, neighborhood groups and more.
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