Five Things You Need to Know to Start Your Day

Musk tells bankers Twitter deal will be done Friday. Adidas drops Ye over antisemitism. Tech stocks are battered on disappointing results. Here’s what you need to know today.

Elon Musk pledged to close the acquisition of Twitter by Friday in a video conference call with bankers helping fund the deal, sources say. The banks, which are providing $13 billion of debt financing, have finished putting together the final credit agreement and are in the process of signing the documentation — one of the last steps before actually sending the cash to Musk. He earlier told investors he may cut 75% of Twitter staff. Meanwhile, investors who filed a suit over Musk’s 2018 tweet stating that he was considering taking Tesla private are facing a crucial test in court. They’re seeking to hold Musk and Tesla responsible for massive losses suffered after Musk pushed the button.