Ticker: Twitter yanks blue check from NYT; Virgin Orbit ceases operations

Twitter has removed the verification check mark on the main account of The New York Times, one of CEO Elon Musk’s most despised news organizations.

The removal comes as many of Twitter’s high-profile users are bracing for the loss of the blue check marks that helped verify their identity and distinguish them from impostors on the social media platform.

Musk, who owns Twitter, set a deadline of Saturday for verified users to buy a premium Twitter subscription or lose the checks on their profiles. The Times said in a story Thursday that it would not pay Twitter for verification of its institutional accounts.

Virgin Orbit ceases operations

Virgin Orbit Holdings Inc., the satellite-launch company tied to British billionaire Richard Branson, is ceasing operations indefinitely, succumbing to growing cash-crunch pressures that have paralyzed startups in many emerging technologies.

The company said in a filing late last week  that it was cutting 675 jobs, or about 85% of its workforce, after it failed to secure additional funding.

A spokesperson for Virgin Orbit said that operations were halted for the foreseeable future, confirming an earlier report from CNBC. The remaining 15% of employees will work on winding down the business, the spokesperson said.

The move punctuates a rapid fall after its high-profile launch failure in January and a collapse in its stock price. Virgin Orbit temporarily suspended operations earlier this month while it sought additional capital. The firm — part of Branson’s empire that includes airline Virgin Atlantic and spaceflight company Virgin Galactic Holdings Inc. — hasn’t turned a profit as a public company.

from Boston Herald https://ift.tt/KehnRdz