Is Tucker Carlson Too Hot for Twitter to Handle?

Tucker Carlson: ‘I’m back’

Tucker Carlson says he’s back: The conservative Firebrand announced on Twitter Tuesday that it will be launching a new show on Elon Musk’s social media platform, two weeks after being fired from Fox News.

But Mr. Musk’s less enthusiastic reaction — and his hasty pointing out that the social media platform has no deal with Mr. Carlson suggests that even Twitter’s outspoken owners have reservations.

Mr. Carlson’s new show is going to be an attack on his old boss. The moderator said the program is very similar to what it has done before and may violate its non-compete clause with Fox News. Tuesday’s announcement ends in January 2025 It indicates that negotiations to end the contract with Mr. Carlson, worth $25 million a year, may have broken down.

things can get spicierMr. Carlson accused Fox executives of: violate his contractFox made little mention of Carlson’s departure in Tuesday’s quarterly earnings call, according to Axios. , CEO Lachlan Murdoch said only that the company’s primetime programming strategy remains unchanged.

Mr. Musk is in no hurry to embrace the new star. Carlson praised Twitter for being a forum for free speech, saying, “Everyone is allowed here. I think that’s a good thing.”

But Musk, who appeared on Mr. Carlson’s Fox News show last month, tweeted, “We haven’t signed any kind of contract.” He added that Carlson would receive the same rather than getting a special deal. SUBSCRIPTION REVENUE SHARE AGREEMENT as someone else.

Being tied up with Mr. Carlson presents risks and rewards for Twitter. his popularity — his announcement It has been viewed more than 78 million times so far and has the potential to reach more users. A successful subscription-only broadcast could also bring in more revenue for Twitter as it seeks to build out other revenue streams beyond advertising.

But Twitter is still dealing with a sharp drop in ad revenue as Musk’s sweeping changes to the social network’s content policies angered many domestic brands. Openly embracing Mr. Carlson, who was shunned by mainstream advertisers on Fox News’ show, could hurt Twitter’s business even more.

This perhaps explains both Mr. Musk’s warning that anything misleading will be subject to Twitter’s joint fact-checking feature, and his call for political balance. ”

Some commentators warned Mr. Carlson about his new boss. “Sooner or later, Elon will attack him too,” wrote tech and media reporter Kara Swisher. twitter threadMusk added, “It’s a show and if you cross him, he’ll show you the door.”

this is what is happening

Donald Trump has been accused of sexually abusing a writer. A jury in Manhattan found that the former president sexually abused and defamed E. Gene Carroll. Trump was ordered to pay $5 million in damages, but he said he would appeal. And he’s still scheduled to appear at the CNN Town Hall on Wednesday.

Steve Schwartzman has reportedly refrained from endorsing Ron DeSantis for president. Schwartzman, a billionaire and co-founder of investment giant Blackstone and a major Republican contributor, recently met with the governor of Florida. Unconvinced About his chances of success, according to Bloomberg. Other Republican supporters are unhappy with DeSantis’ policy position as he prepares to declare his candidacy.

George Santos faces criminal charges. Federal prosecutors have indicted a first-term Republican congressman from New York, reports The Times. Although the specific charges are not yet known, authorities have conducted a months-long investigation into Santos’ finances and campaign activities.

SoftBank is said to be close to selling its Fortress division. Transaction Underway to Sell Investment Business to Abu Dhabi Wealth Fund Mubadala for up to $3 Billion late discussion, according to the Financial Times. If a deal is reached, it would be the latest unwind in SoftBank’s wealth management ambitions. The Japanese tech giant is due to report earnings tomorrow.

Billionaire challenges BlackRock over ESG

Hedge fund mogul Boaz Weinstein Rocking closed-end fundsa class of exchange-traded investment vehicles that can sometimes be traded at a significant discount to their net asset value.

Now his $4.4 billion company, Saba Capital Management, is challenging BlackRock. Weinstein is seeking a seat on the boards of his three funds at the fund and is forcing changes he says will improve stock performance. The twist: He argues that the investment giant, who has championed good corporate governance over the past decade, has not lived up to his original ideals.

Weinstein is attacking how money is managed. He criticized the provision of three vehicles known by their ticker symbol. Biggs, BFZMore and ECAT — Allow only some of the directors (known as trustees) to stand for election each year, allow those trustees to sit on dozens of other boards at the same time, and allow some shareholders to vote restrict rights.

Weinstein called on the fund’s fellow shareholders to back the four people his hedge fund has named to the trustee role. A date for the fund’s annual meeting has not yet been set.

Weinstein accuses BlackRock of hypocrisy. While asset management giants have established themselves as investor advocates, particularly by embracing environmental, social and corporate governance trends or ESG, Weinstein disagrees when firms are held accountable. I say take action.

“After clearly defining the ESG criteria we demand as a shareholder and publicly stating that we will set the standard for the industry, BlackRock will be expected to maintain even higher standards,” Weinstein told DealBook in a statement. “But it turns out that when it comes to their own funds, they do exactly the opposite.”

BlackRock has urged investors to reject Weinstein’s candidate. The company told DealBook that the company and its fund trustees “will fully discharge their fiduciary responsibilities and act in the best interests of all fund shareholders” and that they “are qualified and experienced stewards.” , has demonstrated its ability to create sustainable longs.” -Term value.

The two clashed before. 2019, Weinstein sued After trying to prevent him from appointing a trustee, BlackRock claimed that, as it is now, it is not practicing the principles of good governance they preach.

Weinstein won the rights nominate a candidatea Delaware court allowed BlackRock to reject them on technical grounds, but an investment firm later got what he wanted took the steps he preferred End rating discount.

A pivotal inflation report awaits

U.S. inflation has been easing in recent months as consumers spend less and banks lend less. But economists said Wednesday’s consumer price index report, due out at 8:30 a.m. ET, will show progress has stalled and put more pressure on the Fed to continue aggressive rate hikes. I expect.

What to see: Consensus forecasts headline CPI rose 5% on an annualized basis last month. Core inflation, which excludes more volatile food and fuel price data, rose 5.5%, well above the Fed’s target. If that happens, the central bank may be forced to raise interest rates to keep prices down.

High inflation can increase market volatility. Wall Street remains divided on whether the Fed has completed raising borrowing costs, with some market bulls predicting rates cut Later this year. However, the optimistic forecast is starting to look like wishful thinking as last week’s jobs report showed strong job and wage growth and inflation could remain high.

Lisa Charlett, Morgan’s chief investment officer, said: “Inflation is unbridled, so the rationale for cuts of this magnitude is either a recession (bad news) or a debt ceiling, local banks, or other black swans. It’s one of the crises that have caused it.” Stanley Wealth Management wrote to clients this week. “None of these scenarios are good news.”

The Federal Reserve keeps options open. The central bank has suggested it may pause rate hikes next month as long as inflation and employment data back it up. But New York Fed President John Williams said on Tuesday that could take time. 2 more years Inflation returns to the Fed’s 2% target, leaving the door open for further rate hikes.

“You can’t build a product just for a 41-year-old tech founder. It’s really not a big market. So you have to remember me at 26 when I started the company and didn’t have a lot of money.” not.”

— Brian Cheskythe Airbnb co-founder and CEO has put renewed focus on room rentals as the company reboots after the pandemic. A cautious outlook on bookings sent shares lower in pre-market trading.

Debt limit deadline fast approaching

The US on Wednesday is no closer to avoiding a default crisis.

House Speaker Kevin McCarthy told journalists on Tuesday that he had “only two weeks left” after decisive negotiations between congressional leaders and President Biden fell apart. Biggest breakthrough: They’re scheduled to meet again on Friday.

Neither side is swayed from its original position. Republicans want spending cuts linked to the removal of the debt ceiling, while Democrats are calling for a “clean” bill with budget talks.

Expectations for a quick resolution are low. Treasury Secretary Janet Yellen has warned that the ‘X-date’ could come as early as June when the US would run out of money to pay its bills, causing an ‘economic and financial catastrophe’. rice field.

Still, negotiations are likely to drag on. “In this political moment, it’s not just the content of the agreement or deal that counts, but the zeal with which you fought for your position,” Senate Majority Leader Mitch McConnell told DealBook.

Debt crises usually escalate into the worst. The 2011 deal closed two days before the X date, not enough time to avoid a market-shaking credit downgrade by rating agency S&P Global. President Biden on Tuesday made a reassuring statement on the status of negotiations, addition Its default was “not an option”. Mr. McCarthy said the same thing.

So far, investors have shown no signs of panic. But the clock is ticking.

speed lead

Information of sale

• Apollo said it probably wasn’t enough $25 billion funding target For the latest private equity funds. (Bloomberg)

• European low-cost airline Ryanair has purchased 150 Boeing 737 Max 10s, with an option to buy another 150. (NYT)

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