ATA COULD BECOME A UNION LIKE BC TEACHERS FED
Bill splitting discipline from teacher union's functions passes; ATA doubts minister's timeline

The Alberta Teachers’ Association says establishing a new commissioner’s office to oversee teachers’ discipline is too complex a task to complete in seven months.


© Shaughn Butts

Alberta Teachers’ Association president Jason Schilling.

Lisa Johnson - Yesterday

Edmonton Journal

After a bill removing the disciplinary role of the ATA passed through legislative debate Wednesday, Education Minister Adriana LaGrange said Thursday she is confident the department can get it done by January 1.

“I have exemplary people in my department that are committed to this process and to ensuring that we set up the Office of the Commissioner in the most appropriate and timely matter,” said LaGrange at an unrelated announcement.

LaGrange introduced Bill 15, the Education Reforming Teacher Profession Discipline Act, in late March in an effort to eliminate any potential conflict of interest for the association that also represents 46,000 teachers as a union.

The ATA has fought against it, arguing the legislation will introduce political interference in the disciplinary process by allowing the government to appoint the commissioner, and deprofessionalize teachers.

Association president Jason Schilling said Thursday LaGrange has miscalculated how complex it will be to move from the old model to the new model, and he doesn’t trust her to handle it — especially after what he called the “bumbled and fumbled” handling of files including the curriculum.

“I’m concerned that the minister will not have this ready in time,” said Schilling. The association will do the work in the meantime, but Schilling said it needs to see more details, and to be consulted with on the regulations so the overhaul of the disciplinary process goes smoothly and serves the interest of public safety.

“We cannot be building this airplane while we’re flying,” said Schilling.

The government has said regulations, which are still being written, will let cases that began before January under the ATA’s process continue with the same rules they started under for the first half of 2023, even as responsibilities shift to the commissioner and new hearing and appeal committees.

Katherine Stavropoulos, LaGrange’s press secretary, said in a statement some critics also said in December that the government would never be able to get the legislation drafted and passed in the legislature quickly, but it did.

NDP MLAs in the house Wednesday voted against the bill, although Opposition education critic Sarah Hoffman said the ATA’s concerns simply highlight the adversarial relationship the government has created with teachers.

“The timeline I think, is details. I think the biggest issue is that we have a government that really doesn’t respect the expertise of teachers who are working in our classrooms,” said Hoffman.

Bank of Canada reaching out to Indigenous groups on economic reconciliation

GATINEAU, Que. — A senior Bank of Canada official says the central bank will reach out to Indigenous groups over the next two years to help it define what economic reconciliation means and what its role should be.

In a speech to the Indigenous Prosperity Forum in Gatineau, Que., deputy governor Lawrence Schembri says the central bank will look to its existing partners — and, hopefully, new ones — for help.

Indigenous peoples face many barriers to accessing financial services including credit and capital that non-Indigenous Canadians do not.

Schembri says the challenges are the direct result of colonial policies that have led to geographic and economic isolation, financial dependence and widespread poverty and suffering.

However, he says work has started to help reduce the barriers to financial inclusion.

Schembri says the central bank hopes it can take a meaningful step toward building trust and strengthening its relationship with Indigenous peoples.

This report by The Canadian Press was first published May 5, 2022

Mandryk: Sask. Party caught in path of abortion debate destruction
Murray Mandryk - 
Leader Post

© Provided by Leader Post

Politicians — especially ones who court support from pro-life groups — need to held accountable for policies that affect abortion rights.

Try as they might, some political storms are just too big for politicians to escape.

The abortion debate is one such tornado.

Or so the Saskatchewan Party government is now finding out in the wake of the Category 5 news that the U.S. Supreme Court is about to overturn its 1973 Roe v. Wade decision guaranteeing Americans abortion access. It’s ripping apart that country’s social fabric.

But why does it matter here?

Because the same pro-life advocates who pushed Republicans to appoint U.S. conservative justices like Brett Kavanaugh and Amy Coney Barrett, who are now overturning that country’s half-century-old abortion rights law, are eagerly exercising their influence on conservative federal and provincial parties here.

Like any twister, they know no borders.

They already have been influential here. They are a big reason why Scott Moe is now premier.

The 2018 Saskatchewan Party leadership turned when votes for Ken Cheveldayoff went to Moe instead of early front-runner Alanna Koch — the only candidate who refused to fill out a survey from the anti-abortion group RightNow . Cheveldayoff — who said in his survey results he “supports anything that protects the unborn child” — received the highest marks. Moe was next highest.

Slightly more than a year after that, Yorkton MLA and then-rural and remote health minister Greg Ottenbreit — who then oversaw rural women’s access to abortion procedures that were available only in Regina and Saskatoon — stirred up a dust devil by giving greetings to the Saskatchewan Pro-Life Association annual convention.

That meeting discussed borrowing from American sister organizations to get more pro-life politicians elected. Ottenbreit said in his greeting it would be “gratifying to see the law changed” and he would “work within his professional capacity to do so.”

In the aftermath of the U.S. Supreme Court news Tuesday, the Sask. Party sent out Status of Women Minister Laura Ross to face the storm alone: “I have never, ever wavered from that opinion,” Ross told the Leader-Post’s Jeremy Simes. “I’m pro-choice and so that is my stance that women have the right to choose.”

However, Ross acknowledged “not everyone has the same opinion on issues or concerns” — a significant understatement for her caucus that in 2017 at least contemplated requiring women under 18 years to receive parental consent to get an abortion. That would have been illegal under the Charter of Rights and Freedoms.

Before she could elaborate further for TV cameras in the rotunda, Ross was sucked up by the whirlwind of Moe’s communications staff and swept away to the chamber for Moe’s executive council budget spending estimates — a debate in which she didn’t participate. As for Moe? Also too busy to talk Tuesday, reporters were told.

Alas, after years of playing abortion storm chaser, Moe and the Sask. Party are too close to get out of the path of this most recent twister.

Asked in Wednesday’s question period by NDP justice critic Nicole Sarauer to reaffirm his government’s commitment to women’s rights to an abortion, Moe repeated his position that the government would simply continue to follow the federal law.

Talking to reporters later, Moe insisted his personal pro-life views don’t matter and that Saskatchewan women struggling with access to abortion should talk to their MLA.

Sarauer called Moe’s statement “offensive,” questioning how a woman struggling with such a personal matter would possibly feel comfortable going to an unfamiliar Sask. Party caucus member who may be far more interested in hearing from pro-life groups.

And pro-life groups will eagerly continue to talk to local politicians because they are winning little battles on the ground.

In Alberta, Ontario and B.C., surgical abortion can be performed as late as 24 weeks. It’s only 12 weeks in Saskatoon and just shy of 19 weeks in Regina. Moreover, a referral from another doctor is needed for an abortion in Saskatoon.

So, contrary to Moe’s assertion, politicians’ personal views of politicians do seem to matter here when it comes to abortion policy implementation.

What also matters in this debate is the storm we are seeing down south.

Mandryk is the political columnist for the Regina Leader-Post and the Saskatoon StarPhoenix.

F35 boondoogle

Canada makes US$99M payment as part of deal to foot more of bill for developing F-35

LIBERALS PAY FOR HARPER'S F-35 BOONDOGGLE

Ottawa has made a multimillion-dollar payment as part of a renegotiated deal that is expected to see Canada foot more of the bill for developing the F-35 than in previous years.

The US$99-million payment and renegotiated deal come despite the fact the Liberal government has said Canada may not actually buy the stealth fighter.

The government announced in late March that it was entering into negotiations for the purchase of 88 F-35s, but left the door open to buying a Swedish-made fighter if the talks stalled.

Canada is one of eight partner countries involved in developing the F-35, and its latest contribution means it has so far thrown US$712 million into the pot.

Defence officials say the updated deal reflects Canada's desire to buy 88 new fighters rather than its original plan of 65, as well as Turkey's withdrawal from the F-35 program.

However, the renegotiated agreement also comes as U.S. officials raised fresh concerns last week about escalating costs and development problems with the stealth fighter.

This report by The Canadian Press was first published May 6, 2022.

Sunday, March 13, 2011

F35 boondoogle

So the Parliamentary Budget Office declares that the Harpocrites have low balled the costs of their F35 fighter purchase, which they sole sourced. They say prove it...that's hard to do when the DOD fails to provide the PBO with any cost estimates, being under the cone of silence imposed by the PMO.

SEE LA REVUE GAUCHE - Left Comment: Search results for F35 

UPDATED

National employment numbers for April from Statistics Canada, at a glance

OTTAWA — A quick look at Canada's April employment (numbers from the previous month in brackets):

Unemployment rate: 5.2 per cent (5.3)

Employment rate: 61.9 per cent (61.9)

Participation rate: 65.3 per cent (65.4)

Number unemployed: 1,085,800 (1,100,200)

Canada’s unemployment rate falls to record low as 70,000 jobs added in March 

Number working: 19,600,500 (19,585,200)

Youth (15-24 years) unemployment rate: 10.1 per cent (9.8)

Men (25 plus) unemployment rate: 4.5 per cent (4.4)

Women (25 plus) unemployment rate: 4.5 per cent (4.8)

 

Here's a quick glance at unemployment rates for April, by Canadian city

OTTAWA — The national unemployment rate was 5.2 per cent in April. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers from the previous month in brackets):

_ St. John's, N.L. 6.9 per cent (7.4)

_ Halifax 4.9 per cent (5.4)

_ Moncton, N.B. 5.0 per cent (5.7)

_ Saint John, N.B. 7.1 per cent (7.4)

_ Saguenay, Que. 4.0 per cent (4.5)

_ Quebec City 2.5 per cent (2.7)

_ Sherbrooke, Que. 2.9 per cent (2.6)

_ Trois-Rivieres, Que. 3.4 per cent (3.9)

_ Montreal 4.8 per cent (5.1)

_ Gatineau, Que. 2.6 per cent (3.8)

_ Ottawa 5.2 per cent (5.3)

_ Kingston, Ont. 6.2 per cent (5.9)

_ Peterborough, Ont. 3.9 per cent (3.8)

_ Oshawa, Ont. 4.9 per cent (5.4)

_ Toronto 6.3 per cent (7.2)

_ Hamilton, Ont. 5.2 per cent (5.3)

_ St. Catharines-Niagara, Ont. 5.2 per cent (6.2)

_ Kitchener-Cambridge-Waterloo, Ont. 5.6 per cent (5.4)

_ Brantford, Ont. 4.8 per cent (5.1)

_ Guelph, Ont. 5.1 per cent (4.8)

_ London, Ont. 4.8 per cent (5.3)

_ Windsor, Ont. 6.4 per cent (8.3)

_ Barrie, Ont. 7.1 per cent (7.6)

_ Greater Sudbury, Ont. 3.5 per cent (4.0)

_ Thunder Bay, Ont. 4.0 per cent (4.9)

_ Winnipeg 5.3 per cent (5.1)

_ Regina 6.0 per cent (5.2)

_ Saskatoon 4.4 per cent (4.6)

_ Calgary 7.2 per cent (7.7)

_ Edmonton 6.9 per cent (7.1)

_ Kelowna, B.C. 5.3 per cent (6.7)

_ Abbotsford-Mission, B.C. 4.5 per cent (3.9)

_ Vancouver 5.4 per cent (5.4)

_ Victoria 4.4 per cent (4.1)

This report by The Canadian Press was first published May 6, 2022.

The Canadian Press

RAILWORKERS IN UKRAINE ARE HEROES

Russia intensifies attacks on railways, taking aim at Ukraine's lifeline to the outside world

By Ivana Kottasová, Petro Zadorozhnyy and Lauren Said-Moorhouse

 CNN - Yesterday .


The smell of burnt wire and rubber still lingered in the air around the railway power station on the outskirts of Lviv Wednesday morning, hours after the blaze was extinguished. A group of investigators was collecting debris from the Russian rockets that struck this place the evening before. Now it serves as evidence of Russia's attempts to systematically destroy key infrastructure.

The Lviv power station was among six railway facilities in central and western Ukraine targeted by Russian forces on Tuesday evening, according to the chairman of Ukrainian Railways Olexander Kamyshin.

The coordinated strikes briefly knocked out power in parts of the region and caused long delays to more than 40 trains.

"There were also disruptions on our pumping stations, which are supplying the city with water," Lviv Deputy Mayor Serhiy Kiral told CNN. He said contingency plans were executed to ensure the water supply was not impacted by the strikes.

Tuesday's attack marks the latest in a series of recent attacks on the country's infrastructure, with the railway network now one of Russia's key targets.

On Wednesday, Russia said it believed any weapons -- including NATO equipment -- arriving into and moving within Ukraine were targets, according to Russian state-run news agency RIA Novosti.

Five train stations in western and central Ukraine were hit in the space of an hour on April 25. Two days later, a missile struck a rail and road bridge across the Dniester Estuary that links the southern port city of Odesa with the country's far southwest region. Then on Friday, another important railway bridge was blown up near the town of Sloviansk in the eastern Donetsk region.

Earlier in April, in one of the deadliest attacks so far, at least 50 people -- including five children -- were killed after Russian forces carried out a missile strike on a railway station in Kramatorsk.

Pentagon spokesman John Kirby said Wednesday that Russian forces were "attempting to hit what we assess to be critical infrastructure targets out towards the West" in Ukraine including "electrical power, transportation hubs, that kind of thing."

Kirby said that despite the most recent attacks, the US is still able to "flow" military assistance into the region, including "weapons systems" and other materials.

The national railway has always played a crucial economic role in Ukraine, transporting agriculture and heavy industry exports across the country's vast territory.

But since the Russian invasion began in late February, the train network has become Ukraine's lifeline to the outside world: It's how weapons, supplies and humanitarian aid get into the country.


© Petro Zadorozhnyy/CNN

Railway workers fix a part of the railway line that connects Lviv to Poland.

Mayor Kiral downplayed Russia's attempts, saying he believed it would not have "any significant effect" on supplies coming from the West.

However, he did concede the attacks could hinder Ukraine's trade with the outside world. "It may affect the exports of the Ukrainian commodities, which is very critical in these times of the year because we need to take out more than five million tons of grain in order to be ready for the new harvest."

The network has also been the backbone of global diplomacy and solidarity. When foreign officials -- including EU leaders, UK Prime Minister Boris Johnson and US Secretary of State Antony Blinken -- have visited the country, they too have traveled in and out by train.

It is also a key lifeline to the many that have escaped the fighting. According to Ukrainian Railways, 3.8 million people -- nearly 10% of the country's entire population -- used trains to get to safety in the first two months of the war.

For the more than 230,000 Ukrainians working for the railway network, the recent attacks have been a reminder of how dangerous -- and vital -- their jobs have become.

"We are worried. When we hear the siren, we have to run to the shelter. Just yesterday, two missiles hit nearby," Andriy, a railroad worker on one of the lines leading from Poland to Lviv, told CNN. Andriy declined to give his last name due to concerns for his safety. The railroad is a strategic asset and its employees are not officially authorized to speak to the media.

Andriy, who has been working on the railway for 28 years, said he is incredibly proud to be part of the effort that keeps Ukraine moving.

As he dug out stones and soil underneath the rail, he spoke of his fear. "We just want to work in safety, nobody wants to be hit from the air," he said.

As the railroad plays such an important role in the conflict, Ukrainians have also used it tactfully, striking against key parts of their own network in Russian-occupied areas of the country.

Last Thursday, Ukrainian forces blew up a bridge that connects the Crimean Peninsula to a part of southern Ukraine occupied by the Russians in an attempt to disrupt their flow of weapons.

Serhiy Bratchuk, a spokesman for the Odesa military administration, said Russian forces were using the bridge to "supply weapons and fuel from Crimea."

Andriy's colleague Maksym is working on the railroad as part of his compulsory military service.

As a religious man, Maksym, who also declined to give his last name, said his faith doesn't allow him to take up arms. "So I am doing this as an alternative," he told CNN, saying that making sure that the trains keep running is his way of fighting.


© Petro Zadorozhnyy/CNN

Local residents stand next to a railway power station that was damaged by Russian strikes on Tuesday.

Canadian Natural Resources first-quarter profit more than doubles

STILL ASKING FOR TAXPAYER HANDOUTS FOR CARBON CAPTURE

CALGARY — Canadian Natural Resources Ltd.'s profits more than doubled from a year ago in the first quarter, as surging oil prices pushed the Calgary-based energy company closer to reaching its debt reduction target.

On Thursday, CNRL said it earned $3.1 billion or $2.63 per diluted share for the quarter ended March 31, up from $1.38 billion or $1.16 per diluted share in the same quarter last year.

With the war in Ukraine pushing oil prices to heights not seen in years, CNRL said it now expects its net debt level to fall below $8 billion in late 2022 or early 2023. The company's net debt sat at $13.8 billion at the end of the first quarter.

"It obviously depends on your forecast for pricing and lots of other factors that impact the ability to pay down the debt, but we are looking at significant free cash flow through the year," said chief financial officer Mark Stainthorpe on a conference call with analysts Thursday. "I would suggest sometime later this year or early next year."

CNRL's board has set $8 billion as a "base level" of corporate debt. Once that level is reached, additional free cash flow will be allocated as incremental returns to shareholders, the company says.

CNRL — which is now Canada's largest oil and gas company by market capitalization — paid out approximately $1.8 billion in shareholders in the first quarter of 2022, including $700 million in dividends and $1.1 billion in share repurchases.

"Of note, while we thought it could have been a possibility, the company did not raise its dividend for a third quarter in a row," said Eight Capital analyst Phil Skolnick in a research note.

Last year, CNRL indicated that to the extent its net debt is below $15 billion, such an amount would be made available for strategic growth and acquisition opportunities.

In the first quarter, the company completed a number of acquisitions, including the remaining 50 per cent interest in the Pike lands in the Jackfish and Kirby areas in northern Alberta, and the liquids-rich Montney lands in the Wembley area of northern Alberta.

On the call, CNRL president Tim McKay said the company intends to be disciplined when it comes to pursuing any future acquisitions.

"Up to this point, acquisitions have always been a part of our strategy," McKay said. "However, we have no gaps in our portfolio and acquisitions need to make sense and add long-term value."

CNRL reported product sales in the quarter of $12.13 billion, up from $7.02 billion in the first quarter of 2021.

Daily production, before royalties, averaged 1.28 million barrels of oil equivalent per day in the quarter, up from 1.25 million in the same quarter last year.

Adjusted net earnings from operations amounted to $2.86 per diluted share, up from $1.03 per diluted share in the first three months of 2021.

Analysts on average had expected an adjusted profit of $2.54 per share, according to financial markets data firm Refinitiv.

CNRL shares were trading at $80.81 on the Toronto Stock Exchange at midday Thursday, down $2.81 or 3.4 per cent.

This report by The Canadian Press was first published May 5, 2022.

Companies in this story: (TSX:CNQ)

Amanda Stephenson, The Canadian Press

Developer of Small Modular Nuclear Reactors looking at Chalk River site


Pembroke – A developer of small modular reactors is looking at opening a demonstration centre at Chalk River with an innovative product capable of powering about 5,000 homes in remote locations.

“They are one of our first and largest new investors to the county,” Director of Development and Property Craig Kelley said at Renfrew County council last Wednesday. “They are planning to design, develop and build their micro modular reactor (MMR) project at Chalk River Laboratories.”

Global First Power made a virtual presentation to the assembled mayors and reeves about the planned MMR project, including drawings of where the on-site demonstration model would be built and outlined the next steps as they seek approvals for the project. The company is a partnership of Ontario Power Generation (OPG) and Ultra Safe Nuclear Corporation of Seattle, Washington.

“They are the first company to develop and construct a small modular reactor in North America,” Mr. Kelley noted.

Global First Power Managing Director Yos Diening explained the MMR demonstration project at the Chalk River Canadian Nuclear Laboratories (CNL) site would supply 15 megawatts of heat energy which is approximately five MW of electricity.

“These are designed for off grid locations,” he said.

The project includes an MMR and adjacent plant. The lifespan of the demonstration site is about 20 years, he noted. It will be decommissioned then and the site restored to its original configuration. At present they have applied to the Canadian Nuclear Commission for a license and once approvals are completed will be moving forward with next steps leading to construction.

“This is clean nuclear energy,” he said.

The small modular reactors could be used in remote communities and would make it easier to heat homes and run the community, he explained. It could also be for mining communities up north or First Nations communities. The modules are also scalable depending on need.

The demonstration unit will be constructed and tested off site and assembled at Chalk River. It also has a small footprint of less than the size of two Olympic running tracks.

“Our MMR unit could replace up to 200 million litres of diesel,” he said.

The reactor uses salt to carry the heat in and out. The salt stays in a closed loop.

“The reactor only supplies the heat that is demanded,” he added.

Mr. Diening said the proposed site for the demonstration plant is at a parking lot at Chalk River. It has the least impact on the site of the different locations considered since no trees need to be removed, he said.

Each stage of site preparation, construction, operation, decommissioning and release from licensing requires authorization through the Canadian Nuclear Safety Commission.

He noted the site work would likely be done in 2024 and the operation would commence between 2026 and 2027.

Renfrew Reeve Peter Emon said it is good to see the activity at Chalk River.

“It is nice to see additional investment and additional utilization of that site,” he said.

Mayor Jed Reinwald of Laurentian Hills, where Chalk River is located, questioned the 20-year lifespan and what could happen after that. “Can they be refueled or disposed of?” he asked.

Mr. Diening said there are no plans to refuel the reactor, but this could be considered in the future. If it was refueled it may or may not be done on-site, he said.

“This will be a demonstration site,” he said.

He stressed the plants also cannot be refueled while they are in operation.

Warden Debbie Robinson said it is very nice to have the presentation on what is being planned.

“I’m certainly intrigued by the fact it is going to be a training site as well,” she said.

This will give people a chance to see what is happening at Chalk River, she noted.

Debbi Christinck, Local Journalism Initiative Reporter, The Eganville Leader

Microsoft opens new Toronto headquarters, doubles down on its investment in Canada

MobileSyrup - Tuesday

Microsoft has officially opened its new headquarters in Canada, located in the heart of Toronto, Ontario.

Microsoft’s new headquarters is a 132,000-square-foot state-of-the-art office. It’s located at 81 Bay Street within the CIBC Square office complex. Toronto Mayor John Tory joins the company in celebrating the opening. Microsoft incorporates designs to “engage with the community and support Microsoft’s inclusive hybrid culture.” It has a Team Based Space that pairs innovative technology with collaborative workplaces, empowering employees.

“With the launch of our new headquarters, official opening of our Data Innovation Centre of Excellence and expansion of our regional presence, even more organizations of all sizes and sectors can leverage the power of cloud and data to accelerate their organization’s growth and drive new economic opportunity for Canada,” said Kevin Peesker, the president of Microsoft Canada, in a statement.

The Microsoft headquarters hosts an Envisioning Centre and the first-of-its-kind Data Innovation Centre of Excellence (DICE). The company explains that it enables company experts to co-innovate with clients and partners on “cutting edge data, AI and mixed reality technology solutions.” The new headquarters plays a substantial role in assisting local startups, students, and community organizations within the GTA and across Canada.

The opening of the new headquarters coincides with the release of EY’s research on Microsoft’s impact on the Canadian economy. The research states that Microsoft and its ecosystem contribute more than $37 billion to Canada’s GPD. Microsoft’s ecosystem includes more than 15,000 partners and nearly 300,000 Canadian jobs. Microsoft also supports 30 projects, valued at $190 million.

Microsoft’s impact on Canadian innovation and industry growth has been persistent. Over the past three years, Microsoft has doubled its Canadian workforce and employs 5,000 full-time staff members across the country.

In 2021, Microsoft donated more than $125 million in cash, software, and technology services to non-profits.

Image credit: Microsoft

Source: Microsoft Canada

Musk secures over $7 billion funding from investors including Larry Ellison

(Reuters) -Elon Musk has secured $7.14 billion in funding from a group of investors that includes Oracle Corp co-founder Larry Ellison and Sequoia Capital to fund his $44 billion takeover of Twitter Inc, according to a filing on Thursday.

Saudi Arabian investor Prince Alwaleed bin Talal, who had initially opposed the buyout, also agreed to roll his $1.89 billion stake into the deal rather than cashing out, the filing https://www.sec.gov/Archives/edgar/data/1418091/000110465922056055/tm2214608-1_sc13da.htm showed.


Illustration shows Elon Musk's Twitter profile on smartphone and printed Twitter logos

The move comes as Musk's margin loan was reduced to $6.25 billion from $12.5 billion announced earlier, according to the filing.

Musk's $21 billion financing commitment was also revised to $27.25 billion.

Musk will continue to hold talks with existing shareholders of Twitter, including the company's former chief Jack Dorsey, to contribute shares to the proposed acquisition, the filing showed.

Qatar Holding and Dubai-based Vy Capital, also an investor in Musk's other venture The Boring Company, are also part of the investor group.

Reuters last week reported Musk was in talks with large investment firms and high net-worth individuals about taking on more financing for his Twitter acquisition and tying up less of his wealth in the deal.

Larry Ellison, a board member at Tesla and a self-described close friend of Elon Musk has committed $1 billion for the funding.

Twitter's shares were up about 2.9% at $50.5 before the bell, still below Musk's offer of $54.20.

(Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)