Bloomberg

Elon Musk’s Twitter deal could come under scrutiny as Biden administration ponders security reviews

• The US is reportedly discussing the possibility of submission Elon Musk’s companies to national security clearances.
• US government and intelligence officials are considering the possibility of using tools to audit Musk’s numerous ventures, and talks are still in the early stages.
• Options under consideration include using the law that governs the Foreign Investment Committee to review whether Musk’s deals and operations pose national security risks.

Twitter has dismissed reports of mass layoffs following Elon Musk’s takeover

• Twitter Inc faced reports suggesting Tesla Inc TSLA CEO Elon Musk wanted to hollow out his workforce as part of his takeover.
• Musk’s plan for Twitter reportedly called for a 75% staff reduction, reducing Twitter’s staff to just over 2,000 employees, down from 7,500 its current strength.
• Twitter General Counsel Sean Edgett said talks about cost savings and planning took place earlier in the year. “Those talks ended when the merger deal was signed,” he said.

Washington Post

Elon Musk plans to eviscerate the Twitter workforce

• With a deadline of October 28 for Elon Musk to complete a $44 billion acquisition of Twitter Inc TWTR A new report says he plans to lay off nearly 75% of the social media platform’s employees once he takes over the C-suite.
• The world’s richest man has told potential investors in the deal that he would increase Twitter’s headcount from 7,000 to 2,000 employees.
• Even if Musk doesn’t buy Twitter, the company plans to take about $800 million in pay cuts, or about a quarter of its workforce, by the end of 2023.

Reuters

Ralph Lauren is accused of plagiarizing Indigenous designs

• The Mexican President’s wife blamed the luxury brand Ralph Lauren Corp RL of plagiarizing indigenous designs.
• In an Instagram post, Beatriz Gutierrez said the fashion label had taken the work of…