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Tweets of Donald Trump’s death have been greatly exaggerated.

You may have woken up to #TrumpIsDead trending on Twitter this morning, and swiped over to your news app of choice to find out more.

Of course, there would have been no such story there. The former US president is alive and well – to coin one of his favourite phrases, this hashtag was a stone-cold case of fake news.

But in a co-ordinated attempt to test Elon Musk‘s stance on disinformation on the platform following his takeover, trending topics in the US and beyond were for hours topped with news of Mr Trump‘s apparent demise.

Why did it happen?

As ever, when something trends on Twitter, especially if it ends up being false or misleading, much of the discussion was driven by people wondering what on Earth was going on.

But it began as an effort to essentially stick it to new owner Musk, who has made content moderation – and his apparent desire to loosen it – a key part of the conversation surrounding his takeover.

“#TrumpIsDead is the best retaliation to Musk saying disinformation is free speech,” said one.

Another who tweeted the hashtag added: “I mean, he might be alive, but since we’re apparently going in a new direction on fact-checking in Chief Twit’s new world, I guess we’ll never know.”

“There has never been a hashtag that has trending bigger,” said one, echoing Mr Trump’s style of self-praise.

At its peak, tens of thousands of tweets drove the hashtag to the top of the trending charts.

Verified accounts got in on the joke, with one from comedian Tim Heidecker racking up close to 10,000 retweets, while others mocked up screenshots of news sites including CNN.

In the US, #TrumpIsDead even overtook the evening’s World Series baseball action.

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Will Trump’s Twitter ban be overturned?

How are trends determined?

Trending topics on Twitter come from a combination of the sheer number of tweets and the work of an algorithm, designed to tailor which ones appear for individual users based on their interests and location.

However, Twitter will act to prevent a hashtag or content from trending if it violates its rules.

For now, at least, that includes anything deemed as platform manipulation or spam, and also any forms of so-called “social coordination” which may spread misinformation.

Twitter’s head of safety and integrity Yoel Roth tweeted last night, just as the hashtag was trending: “We’re staying vigilant against attempts to manipulate conversations about the 2022 US midterms.”

Sky News has contacted Twitter for comment about the Trump hashtag.

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How do midterm elections work?

Have Trump or Musk responded?

Mr Trump is yet to address his return to the trending charts on his platform Truth Social, where he has been posting since being banned from Twitter in January 2021.

There has also been no comment from Musk – but his latest tweets do relate to Mr Trump’s Twitter status.

Having indicated earlier this year that he would reverse Mr Trump’s ban, people have been waiting to see when suspended accounts might be allowed back.

But he tweeted overnight: “Twitter will not allow anyone who was deplatformed for violating Twitter rules back on platform until we have a clear process for doing so, which will take at least a few more weeks.”

That means no return for Mr Trump before next week’s US midterms, as Musk works to create a new moderation council with “widely diverse viewpoints”.

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Tesla approves $29bn share award to Elon Musk

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Tesla approves bn share award to Elon Musk

Tesla’s board has signed off a $29bn (£21.8bn) share award to Elon Musk after a court blocked an earlier package worth almost double that sum.

The new award, which amounts to 96 million new shares, is not just about keeping the electric vehicle (EV) firm’s founder in the driving seat as chief executive.

The new stock will also bolster his voting power from a current level of 13%.

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He and other shareholders have long argued that boosting his interest in the company is key to maintaining his focus after a foray into the trappings of political power at Donald Trump‘s side – a relationship that has now turned sour.

Musk is angry at the president’s tax cut and spending plans, known as the big beautiful bill. Tesla has also suffered a sales backlash as a result of Musk’s past association with Mr Trump and role in cutting federal government spending.

Tesla Inc CEO Elon Musk onstage during an event for Tesla in Shanghai, China. Pic: Reuters
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Tesla’s Elon Musk is seen on stage during an event in Shanghai Pic: Reuters

The company is currently focused on the roll out of a new cheaper model in a bid to boost flagging sales and challenge steep competition, particularly from China.

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The headwinds have been made stronger as the Trump administration has cut support for EVs, with Musk admitting last month that it could lead to a “few rough quarters” for the company.

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Tesla is currently running trials of its self-driving software and revenues are not set to reflect the anticipated rollout until late next year.

Musk had been in line for a share award worth over $50bn back in 2018 – the biggest compensation package ever seen globally.

But the board’s decision was voided by a judge in Delaware following a protracted legal fight. There is still a continuing appeal process.

Earlier this year, Tesla said its board had formed a special committee to consider some compensation matters involving Musk, without disclosing details.

The special committee said in the filing on Monday: “While we recognize Elon’s business ventures, interests and other potential demands on his time and attention are extensive and wide-ranging… we are confident that this award will incentivize Elon to remain at Tesla”.

It added that if the Delaware courts fully reinstate the 2018 “performance award”, the new interim grant would either be forfeited or offset to ensure no “double dip”.

The new compensation package is subject to shareholder approval.

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Motor finance operators can breathe big sigh of relief

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Motor finance operators can breathe big sigh of relief

Bank stocks have enjoyed a boost as traders digest the Supreme Court’s ruling on the car finance scandal.

Some of the country’s most exposed lenders, including Lloyds and Close Brothers, saw their share prices jump by 7.55% and 21.62% respectively.

It came after the court delivered a reprieve from a possible £44bn compensation bill.

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Banks will still most likely have to fork out over discretionary commissions – a type of commission for dealers that was linked to how high an interest rate they could get from customers.

The FCA, which banned the practice in 2021, is currently consulting on a redress scheme but the final bill is unlikely to exceed £18bn. Overall, the result has been better than expected for the banks.

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Car finance ruling explained

Lloyds, which owns the country’s largest car finance provider Black Horse, had set aside £1.2bn to cover compensation payouts.

Following the judgment, the bank said it “currently believes that if there is any change to the provision, it is unlikely to be material in the context of the group”.

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‘Don’t use a claims management firm’

The judgment released some of the anxiety that has been weighing over the Bank’s share price.

Jonathan Pierce, banking analyst at Jefferies, said the FCA’s prediction was “consistent with our estimates, and most importantly, we think it largely de-risks Lloyds’ shares from the ‘motor issue'”.

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Bank stocks have responded robustly to each twist and turn in this tale, sinking after the Court of Appeal turned against them and jumping (as much as 8% in the case of Close Brothers) when the Supreme Court allowed the appeal hearing.

Concerns about this volatility motivated the Supreme Court to deliver its judgment late in the afternoon so that traders would have time to absorb the news.

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FCA considering compensation scheme over car finance scandal – raising hopes of payouts for motorists

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FCA considering compensation scheme over car finance scandal - raising hopes of payouts for motorists

Thousands of motorists who bought cars on finance before 2021 could be set for payouts as the Financial Conduct Authority (FCA) has said it will consult on a compensation scheme.

In a statement released on Sunday, the FCA said its review of the past use of motor finance “has shown that many firms were not complying with the law or our disclosure rules that were in force when they sold loans to consumers”.

“Where consumers have lost out, they should be appropriately compensated in an orderly, consistent and efficient way,” the statement continued.

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The FCA said it estimates the cost of any scheme, including compensation and administrative costs, to be no lower than £9bn – adding that a total cost of £13.5bn is “more plausible”.

It is unclear how many people could be eligible for a pay-out. The authority estimates most individuals will probably receive less than £950 in compensation.

The consultation will be published by early October and any scheme will be finalised in time for people to start receiving compensation next year.

What motorists should do next

The FCA says you may be affected if you bought a car under a finance scheme, including hire purchase agreements, before 28 January 2021.

Anyone who has already complained does not need to do anything.

The authority added: “Consumers concerned that they were not told about commission, and who think they may have paid too much for the finance, should complain now.”

Its website advises drivers to complain to their finance provider first.

If you’re unhappy with the response, you can then contact the Financial Ombudsman.

The FCA has said any compensation scheme will be easy to participate in, without drivers needing to use a claims management company or law firm.

It has warned motorists that doing so could end up costing you 30% of any compensation in fees.

The announcement comes after the Supreme Court ruled on a separate, but similar, case on Friday.

The court overturned a ruling that would have meant millions of motorists could have been due compensation over “secret” commission payments made to car dealers as part of finance arrangements.

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Car finance scandal explained

The FCA’s case concerns discretionary commission arrangements (DCAs) – a practice banned in 2021.

Under these arrangements, brokers and dealers increased the amount of interest they earned without telling buyers and received more commission for it. This is said to have then incentivised sellers to maximise interest rates.

In light of the Supreme Court’s judgment, any compensation scheme could also cover non-discretionary commission arrangements, the FCA has said. These arrangements are ones where the buyer’s interest rate did not impact the dealer’s commission.

This is because part of the court’s ruling “makes clear that non-disclosure of other facts relating to the commission can make the relationship [between a salesperson and buyer] unfair,” it said.

It was previously estimated that about 40% of car finance deals included DCAs while 99% involved a commission payment to a broker.

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Nikhil Rathi, chief executive of the FCA, said: “It is clear that some firms have broken the law and our rules. It’s fair for their customers to be compensated.

“We also want to ensure that the market, relied on by millions each year, can continue to work well and consumers can get a fair deal.”

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