Business News at a Glance

Twitter Plans Purges of Fake Followers to Restore the Power, and Value, of Influence

Twitter will begin removing tens of millions of suspicious accounts from users’ followers on Thursday, signaling a major new effort to restore trust on the popular but embattled platform. The reform takes aim at a pervasive form of social media fraud. Many users have inflated their followers on Twitter or other services with automated or fake accounts, buying the appearance of social influence to bolster their political activism, business endeavors or entertainment careers. Twitter’s decision will have an immediate impact: Beginning Thursday, many users, including those who have bought fake followers and any others who are followed by suspicious accounts, will see their follower numbers fall.

Comcast and Fox Raise Bids for Sky

Comcast’s bid to acquire the bulk of 21st Century Fox’s entertainment assets appears to be over. Instead, the cable giant will focus on fighting Fox for control of Sky, one of Europe’s most prized media companies. The Philadelphia-based Comcast increased its offer for Sky on Wednesday, valuing the satellite broadcaster at $34 billion, or 26 billion pounds. That topped a bid from 21st Century Fox, Rupert Murdoch’s media empire, that came earlier in the day. Fox’s offer valued Sky at about $32.5 billion. Sky’s independent board had already recommended Comcast’s new terms.

Alphabet Making Big Strides Refining Balloons and Drones

Google’s efforts to build delivery drones and internet-beaming balloons are no longer just science projects. Both ventures are becoming their own independent businesses within Alphabet, the technology conglomerate that owns Google and now 13 other units, the company said Wednesday. Their so-called graduation from Alphabet’s research lab, X, means the teams may now be on a path to soon offer commercial services. The delivery-drone unit, named Wing, has built 11-pound drones with fixed wings for gliding to destinations and 12 rotors for hovering while winching down deliveries. The other new unit, called Loon, is building high-altitude balloons that deliver internet connections to rural or disaster-stricken areas.

Broadcom Reaches Deal to Buy CA Technologies

Broadcom has agreed to buy the software maker CA Technologies for nearly $19 billion, according to the two companies. The acquisition by Broadcom, which has become a formidable competitor in the semiconductor market, would be the first major move by the company since its $117 billion bid for Qualcomm was blocked by the Trump administration in March over national security concerns. Broadcom is offering CA Technologies’ shareholders $44.50 a share, about 20 percent higher than their closing price Wednesday. CA Technologies, formerly known as Computer Associates, has a broad range of software products from mainframe programs to cloud-based software for computer security.

Papa John’s Founder Apologizes for Slur Against Blacks

John Schnatter, the founder of Papa John’s Pizza, apologized Wednesday for using a racial slur in a comment about black people during a conference call in May, describing his words as “inappropriate and hurtful” in a statement provided by the company. The apology was prompted by a report in Forbes that described the call, which was with the Laundry Service marketing agency. “Regardless of the context, I apologize,” he said. “Simply stated, racism has no place in our society.” Schnatter also resigned from the board of trustees for the University of Louisville. He declined to comment further.

Billboard CEO Resigns as Coverage Is Questioned

The resignation of the top executive at Billboard magazine was announced Wednesday, amid an investigation into how the publication handled coverage of harassment allegations in the music industry. Valence Media, the magazine’s parent company, said in a statement that John Amato had resigned as the chief executive of its Hollywood Reporter-Billboard Media Group. In a memo circulated to employees and obtained by The New York Times, Asif Satchu and Modi Wiczyk, Valence’s co-chief executives, gave no explanation for Amato’s resignation. They added only that a new leadership plan would be announced “in the near future.”