Tupperware investors are unlikely to be partying right now. And that’s kind of the issue. The company lifted the lid on its financial problems, saying it may struggle to stay in business due to various issues, including ‘a sharp decline in the number of sellers’. It has also been unable to contain costs.

The lowdown

• 🍱 Tupperware warns the market that it may go out of business.

• ⏳ EY given more time to conduct review into exam cheating scandal.

• 🔋 Tesla to build new ‘Megapack’ battery factory in Shanghai.

Featured stories

Twitter and Substack go to war

Last week, newsletter platform Substack announced it will launch a new feature called ‘Notes’, which allows newsletter writers to post and discuss short form content – it sounded suspiciously like Twitter.

Substack admits that Notes will look like other social media feeds. Twitter, already struggling under the load of $13 billion in debt ($), appears not to have taken the news of a credible competitor well. The company limited the promotion and visibility of tweets with links to Substack posts.

While others have tried to compete with Twitter (Mastodon, Truth Social), they have found little success. Substack has an advantage over Twitter in that it does not need to show ads. Instead, its revenue comes from its more than 500,000 paid newsletter subscribers.

Substack isn’t the only one that’s been busy, though: Twitter has been working hard on a new sign.

The content we're consuming today

• The Economist: The resistible lure of the family business ($).

• Odd Lots podcast: What commercial real estate stress means for banks and bond funds.

• FT: Can Warner Bros Discovery win back Hollywood? ($).

Off-balance sheet items

• If you are planning on building your own environmentally sustainable dream home (or if you are just a fan of Grand Designs), then you should look at this feature by the FT: Into the wild: building an off-grid, on-trend home ($).

The bottom line