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Elon Musk in talks with Linda Yaccarino to be new Twitter chief

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Elon Musk in talks with Linda Yaccarino to be new Twitter chief

Elon Musk is in talks to hire Linda Yaccarino, NBCUniversal’s head of advertising, as Twitter’s new chief executive, according to two people familiar with the matter.

The billionaire has been Twitter chief executive since his $44bn acquisition of the company in October but signalled his position would be temporary. Without naming a successor, Musk wrote on Twitter on Thursday: “Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!”

NBCUniversal on Friday morning announced that Yaccarino would be leaving the company “effective immediately”. Her abrupt exit comes just a few days before NBCUniversal’s annual “upfronts” presentation — the biggest event of the year in television advertising.

Yaccarino, who had been rumoured as a candidate to take over as chief executive of NBCUniversal after the departure of Jeff Shell last month, said on Friday: “It has been an absolute honour to be part of Comcast NBCUniversal.” The company did not give a reason for her exit.

The Wall Street Journal first reported she was in discussions for the Twitter job.

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Musk and Yaccarino recently appeared together at a conference in Miami where they gave a keynote speech titled “Twitter 2.0: From Conversations to Partnerships”. They seemed to have a good rapport onstage, with Yaccarino displaying a flair for showmanship, according to people who saw the presentation.

The announcement comes as shareholders of Tesla, the electric-car maker that Musk also runs, have increasingly put pressure on him to return his focus to that company, whose shares have fallen 30 per cent over the past year. Tesla’s stock jumped about 2 per cent on news of the Twitter chief.

Musk said that he would be moving to the roles of Twitter’s executive chair and chief technology officer, “overseeing product, software and sysops [systems operations]”.

Twitter investors and bankers have also been keen for Musk to select new management as soon as possible, according to people familiar with the matter.

Yaccarino, a well-regarded advertising executive, would bring to Twitter a tight relationship with marketers and ad agencies. Daniel Ives, analyst at Wedbush Securities, said it would be a “home run hire” and “a major step forward with Musk finally reading the room”.

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Musk in December said he would resign as Twitter’s chief executive as soon as he found someone “foolish enough to take the job”, after polling users over whether he should quit the role. The poll drew 17.5mn votes, with 57.5 per cent calling for him to step aside.

His six months at the helm of Twitter have been marked by a significant shake-up in which he reduced its headcount by about 90 per cent and relaxed content moderation. The moves alienated some high-profile users and advertisers, hitting the social media platform’s revenue.

Musk has oscillated between attempting to court advertisers in order to bolster Twitter’s main source of revenues and taking public swipes at marketers for pulling back from the platform over their moderation concerns.

Yaccarino, who has been at NBCUniversal for nearly 12 years, is one of few advertising executives to come out batting for Musk. In November, shortly after the takeover, she said she “wouldn’t bet against” Musk and that people should “give the guy a minute”, according to reports at the time.

Musk in March said Twitter’s finances were improving following his cost-cutting efforts, to the point that the company could return to posting positive cash flow next quarter. He has also announced several new features in recent weeks, including encrypted messaging.

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Standard Chartered beats profit forecasts on back of higher interest rates

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Standard Chartered beats profit forecasts on back of higher interest rates

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Trump faces prospect of additional sanctions in hush money trial as key witness resumes testimony

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Trump faces prospect of additional sanctions in hush money trial as key witness resumes testimony

NEW YORK (AP) — Donald Trump faces the prospect of additional sanctions in his hush money trial as he returns to court Thursday for another contempt hearing followed by testimony from a lawyer who represented two women who have said they had sexual encounters with the former president.

The testimony from attorney Keith Davidson is seen as a vital building block for the prosecution’s case that Trump and his allies schemed to bury unflattering stories in the run-up to the 2016 presidential election. He is one of multiple key players expected to be called to the stand in advance of prosecutors’ star witness, Michael Cohen, Trump’s former lawyer and personal fixer.

What to know about Trump’s hush money trial:

Prosecutors are seeking $1,000 fines for each of four comments by Trump that they say violated a judge’s gag order barring him from attacking witnesses, jurors and others closely connected to the case. Such a penalty would be on top of a $9,000 fine that Judge Juan M. Merchan imposed on Tuesday related to nine separate gag order violations that he found.

It was not immediately clear when Merchan might rule on the request for fresh sanctions, but the prospect of further punishment underscores the challenges Trump the presidential candidate is facing in adjusting to the role of criminal defendant subject to rigid courtroom protocol that he does not control. It also remains to be seen whether any rebuke from the court will lead Trump to adjust his behavior given the campaign trail benefit he believes he derives from painting the case as politically motivated.

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During a one-day break from the trial on Wednesday, Trump kept up his condemnation of the case, though stopped short of comments that might run afoul of the gag order.

“There is no crime,” he told supporters in Waukesha, Wisconsin. “I have a crooked judge, is a totally conflicted judge.”

Former President Donald Trump speaks to the media outside the courtroom of his trial at Manhattan criminal court, Tuesday, April 30, 2024, in New York. (Curtis Means/Pool Photo via AP)

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The trial, now in its second week of testimony, has exposed the underbelly of tabloid journalism practices and the protections, for a price, afforded to Trump during his successful run for president in 2016.

The case concerns hush money paid to squelch embarrassing stories, including from a porn actor and a former Playboy model, and reimbursements by Trump that prosecutors say were intentionally fraudulent and designed to conceal the true purpose of the payments and to interfere in the election.

The former publisher of the National Enquirer, David Pecker, testified last week that he offered to be the “eyes and ears” of the Trump campaign and described in detail his role in purchasing a sordid tale from a New York City doorman that was later determined to not be true as well as accusations of an extramarital affair with former Playboy model Karen McDougal.

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Republican presidential candidate former President Donald Trump speaks at a campaign rally in Freeland, Mich., Wednesday, May 1, 2024. (AP Photo/Paul Sancya)
FILE - Pedestrians walk past the Nasdaq building as the stock price of Trump Media & Technology Group Corp. is displayed on screens, March 26, 2024, in New York. A Delaware judge on Tuesday, April 30, granted a request by attorneys for Donald Trump and Trump Media & Technology Group, parent company of his Truth Social platform, to slow down a lawsuit filed by two cofounders of the company. (AP Photo/Frank Franklin II, File)

The goal was to prevent the stories from getting out, a concern that was especially pointed in the aftermath of the disclosure of a 2005 “Access Hollywood” recording in which he was heard describing grabbing women without their permission.

A separate $130,000 payment was made by Cohen, Trump’s former lawyer and personal fixer, to porn actor Stormy Daniels, to prevent her claims of a 2006 sexual encounter with Trump from surfacing.

Trump’s company then reimbursed Cohen and logged the payments to him as legal expenses, prosecutors have said in charging the former president with 34 felony counts of falsifying business records — a charge punishable by up to four years in prison.

Returning to the stand Thursday will be Keith Davidson, a lawyer who represented both Daniels and McDougal in their negotiations with the National Enquirer and Cohen.

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He testified that he arranged a meeting at his Los Angeles office during the summer of 2016 to see whether the tabloid’s parent company American Media, Inc. was interested in McDougal’s story. At first, they demurred, saying she “lacked documentary evidence of the interaction,” Davidson testified.

Former President Donald Trump speaks to the media outside the courtroom of his trial at Manhattan criminal court, Tuesday, April 30, 2024, in New York. (Curtis Means/Pool Photo via AP)

Former President Donald Trump speaks to the media outside the courtroom of his trial at Manhattan criminal court, Tuesday, April 30, 2024, in New York. (Curtis Means/Pool Photo via AP)

But the tabloid at Pecker’s behest eventually bought the rights, and Davidson testified that he understood — and McDougal preferred — it would never be published. One reason for that, he said, is that there was an “unspoken affiliation” between Pecker and Trump and a desire by the company that owned the Enquirer to not publish stories that would hurt Trump.

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The morning will begin with another gag order hearing. The four statements at issue were made by Trump before Merchan warned on Tuesday that additional violations could result in jail time.

They include comments to reporters and in interviews assailing Cohen’s integrity.

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UCLA cancels classes as clashes over Gaza war spread across US campuses

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UCLA cancels classes as clashes over Gaza war spread across US campuses

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University campuses from New York to Los Angeles simmered with rage and recriminations on Wednesday as they dealt with the fallout from police operations to quash protests over the war in Gaza.

The University of California, Los Angeles cancelled classes for the day after a violent night-time attack by counter-protesters on an encampment set up by pro-Palestinian student demonstrators.

In New York, mayor Eric Adams blamed “outside agitators” for escalating anti-Israel demonstrations at Columbia University as he defended his police department’s conduct. New York police made 282 arrests at Columbia and further uptown at New York’s City College on Tuesday night.

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Columbia said its exams and classes would be remote for the remainder of the academic year, with a police presence remaining on campus until May 17 — two days after graduation.

As the situation eased at Columbia and City College, a new encampment sprung up at Fordham University’s campus in midtown Manhattan, prompting further warnings of police action.

Pepper spray and fireworks were used during the clashes on UCLA’s campus, which began just before midnight. Police arrived in riot gear at about 1.40am but the clashes continued until about 3am.

LA mayor Karen Bass called for a full investigation into the “abhorrent and inexcusable” violence. “Those involved in launching fireworks at other people, spraying chemicals and physically assaulting others will be found, arrested and prosecuted, as well as anyone involved in any form of violence or lawlessness,” she said. “Free speech will be protected. Violence and bigotry will not.”

Gavin Newsom, California’s governor, criticised the response by the university and its security guards, saying “the limited and delayed campus law enforcement response at UCLA last night was unacceptable — and it demands answers”.

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The Jewish Federation of Los Angeles called the attack by the counter-protesters “abhorrent”, saying they “do not represent the Jewish community or our values”. But it also criticised the UCLA administration and called for the immediate closure of encampments.

“People are sad and upset,” said one UCLA faculty member. “Everybody wants freedom of speech and the right to protest but it’s getting out of hand. It was a surprise to everybody that violence broke out.”

The clashes at UCLA came after two weeks of controversy at the nearby University of Southern California, where administrators cancelled the graduation speech by the valedictorian, Asna Tabassum, a Muslim woman, citing security concerns.

In New York, officers equipped in riot gear stormed the Columbia campus late on Tuesday in a dramatic raid to oust protesters from two encampments and Hamilton Hall, a building they had seized the previous night.

Adams told MSNBC: “Many people thought that this was just a natural evolution of a protest. It was not. These were professionals that were here and I just want to send a clear message out that there are people who are harmful and trying to radicalise our children and we cannot ignore these outside influences.”

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The NYPD did not immediately release any details about the individuals involved, but Ben Chang, a Columbia spokesperson, echoed the mayor’s comments, saying the group that seized Hamilton Hall had been “led by individuals not affiliated with the university”.

Minouche Shafik, Columbia’s president, defended the decision to call in the police, writing to the university’s staff and students that protesters had “pushed the university to the brink” and her move came only after multiple attempts to de-escalate the situation through negotiations.

“Students and outside activists breaking Hamilton Hall doors, mistreating our public safety officers and maintenance staff, and damaging property are acts of destruction, not political speech,” she wrote on Wednesday. The university also said it was limiting access to campus, calling Hamilton Hall “an active crime scene”.

Protesters at Columbia had demanded the university divest from companies that profit from Israel and cut ties with an Israeli university. Many Jewish students complained vigorous activism had often boiled over into blatant antisemitism that would not have been tolerated by the administration if directed at other minority groups.

On Wednesday morning, the neighbourhood around the university was quiet after two weeks of drumbeating protests that prompted comparisons with the anti-Vietnam war demonstrations that rocked Columbia in 1968.

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The only sign of the previous night’s raid was the military vehicle used by the police to breach the second floor of Hamilton Hall. It was parked across the street from the campus.

Inside the gates, Columbia’s main lawn appeared to have been cleared of the dozens of tents, draped in signs and banners, that formed the “Gaza solidarity encampment”.

A student who did not want to be named said he found the occupation of Hamilton Hall to be “disruptive” but the police response “disproportionately” large nonetheless. Another student said “it was about time” to clear the encampment and that Shafik could have acted earlier to prevent the protests from escalating.

In another sign that the stand-off had ended, Columbia’s student radio station, WKCR, which became a mainstay for its round-the-clock news coverage of the protest, switched back to jazz and classical music on Wednesday morning.

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