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MrBeast is hitting the brakes on his relationship with his talent-management company, Semafor reported. Talent firm Night Media has been working with the superstar YouTuber for six years. Two sources told Semafor that Night would "no longer be his primary talent management agency." AdvertisementSuperstar YouTuber MrBeast and his talent-management company, Night Media, are growing apart, according to a new report from Semafor. At the same time, MrBeast's empire has continued to expand: the YouTuber told Time earlier this year he makes between $600 and $700 million in revenue a year.
Persons: Semafor, YouTuber, , YouTuber MrBeast, Jimmy Donaldson, Donaldson, Reed Duchscher, Reed, Duchscher, Safiya Nygaard, It's, Kai Cenat, He's, Burger, Beast, Preston Arsement, Charli D'Amelio Organizations: Media, Service, Night Media, Bloomberg, Beast Investments, Amazon Prime Locations: Semafor, Texas, Feastables
George Santos will be making Cameo videos as his drag persona, Kitara Ravache, he said. After being expelled from Congress, Santos has used Cameo to earn money. AdvertisementDisgraced former Congressman George Santos announced on Monday that he is bringing his drag persona Kitara Ravache "out of the closet" for a limited time. AdvertisementRochard said that she had known Santos as a drag queen and that he'd competed in drag in a beauty pageant as Kitara Ravache in 2008. AdvertisementFollowing his expulsion from Congress, Santos turned to Cameo as a source of income.
Persons: George Santos, Kitara Ravache, Santos, , Y'all, I've, Roch, "Ru Organizations: Congress, Service, New, Acc, e, eni Locations: y
Read previewEmma Tucker's arrival at The Wall Street Journal a little over a year ago was met with enthusiasm. This story is available exclusively to Business Insider subscribers. Business Insider talked to a dozen insiders for this story; many of them said they had felt a shift from optimism to angst regarding Tucker and the newsroom generally. A Journal spokesperson said Tucker wasn't available to comment but offered an interview with Taneth Evans, Tucker's associate editor. Evans told Business Insider that the changes were drawn out to give the new leadership time to understand how the newsroom works.
Persons: , Emma Tucker's, Tucker, She's, effused, Liz Harris, Dow Jones, IAPE, Tucker wasn't, Taneth Evans, Tucker's, Evans, I've, Harris, Emma Tucker, Joy Malone, Rupert Murdoch, Matt Murray, Murray, Elon, Taylor, I'm, OpenAI's Sam Altman, Michael Bloomberg's, Lachlan Murdoch, Adrian Edwards, Axel Springer Organizations: Service, Wall, Business, Dow, Independent Association of Publishers ' Employees, CWA, Associates, Sunday Times, The New York Times, Times, Boeing, News Corp Locations: New York, London, Tesla, Gaza, New York City
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump allies' plans to erode Fed's independence is 'incredibly dangerous': Semafor's Liz HoffmanLiz Hoffman, Semafor business and finance editor, joins 'Squawk Box' to discuss reports of Trump allies quietly drafting proposals that would attempt to erode the Fed's independence if the former president wins the 2024 election, how plausible the scenario would be, and more.
Persons: Liz Hoffman Liz Hoffman Organizations: Email Trump, Trump
Intel reported first-quarter earnings on Thursday that beat Wall Street expectations for earnings per share, but came up light in sales. Intel gave a weak forecast for the current quarter. That forecast compares to analysts' expected earnings per share of 25 cents, on $13.57 billion in sales. In the first quarter, Intel reported a net loss of $400 million, or 9 cents per share, versus a net loss of $2.8 billion, or 66 cents per share, last year. Intel said last month that it had reported a $7 billion operating loss in its foundry in 2023.
Persons: Pat Gelsinger Organizations: Intel, Summit, Revenue, Intel Foundry, Intel's Foundry, Intel's, Data Center, Nvidia, Gaudi Locations: Washington ,
The 2-year Treasury yield was last at 4.9622% after falling by more than two basis points. U.S. Treasury yields declined on Friday as investors considered the latest economic data and remarks from Federal Reserve officials, and considered what this could mean for monetary policy. Investors digested the latest economic data and remarks from policymakers as they considered the outlook for interest rates. Fed officials have in recent days and weeks indicated that interest rates may remain elevated for longer than previously anticipated. Elsewhere, Atlanta Fed President Raphael Bostic said rate cuts may not come until the end of the year, and that he was "comfortable being patient," while Minneapolis Fed President Neel Kashkari suggested rate cuts may not begin until 2025.
Persons: John Williams, Raphael Bostic, Neel Kashkari, Jerome Powell Organizations: Treasury, U.S, Federal Reserve, New York Fed, Atlanta Fed, Minneapolis, Investors, NBC News Locations: Philadelphia, Israel
President Joe Biden's top economic advisor said Thursday that the White House will "make sure gas prices remain affordable" when asked whether the administration would consider tapping the Strategic Petroleum Reserve. We'll continue to monitor closely and want to make sure that those gas prices remain in current ranges," Brainard said. U.S. crude oil hit a high of $87.67 per barrel this year before pulling back to around $83 a barrel. The White House is keeping a close eye on "geostrategic risk" in the Middle East, Brainard said. Daniel Yergin, vice chairman of S&P Global, said oil prices above $90 presents a problem for the broader market.
Persons: Lael Brainard, Joe Biden's, Brainard, Biden, Lloyd Austin, John Podesta, Tuesday Biden, , Daniel Yergin, It's, Yergin, CNBC's Organizations: AAA, Summit, Strategic Petroleum Reserve, JPMorgan, Brent, P Global Locations: East, Eastern Europe, Israel, Ukraine, Iran
Tesla's awful 2024 is getting much worse
  + stars: | 2024-04-17 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Tech: A "social walkie-talkie" app is the newest thing tech insiders are excited about . Tesla's awful 2024 got much worse this week when the company cut 10% of its workforce , and a major executive resigned after 18 years at the EV maker. AdvertisementSlaven Vlasic/Getty Images for The New York Times; Chelsea Jia Feng/BIIn the meantime, Tesla's stock keeps falling. Even worse, people who are in the market for EVs aren't necessarily interested in Teslas .
Persons: , NASA's Chandra, Tesla, we've, Elon Musk, Steve Granitz, Scott Olson, Jia Feng, Graham, Elon Musk's, robotaxis, Slaven, Chelsea Jia Feng, Tesla's, Musk, Andy Sieg, Merrill Lynch, Abanti Chowdhury, who's, Piper Sandler, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Tech, Adobe Stock, The New York Times, EVs, Teslas, Trump, SWANSON, Apple, Microsoft, BI, CNBC, Economy Summit Locations: Chelsea, China, Teslas ., States, New York, London
Trump Media stock tanks: Here's what investors need to know
  + stars: | 2024-04-16 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump Media stock tanks: Here's what investors need to knowLiz Hoffman, Semafor business and finance editor, joins 'Squawk Box' to discuss Trump Media & Technology Group as the company's stock plunged after announcing massive share sale.
Persons: Liz Hoffman Organizations: Email Trump Media, Trump Media & Technology Group
There is already an effort underway by wealthy Biden donors to recruit Haley's bundlers and contributors. The Biden Victory Fund raises money for the Biden campaign, the Democratic National Committee and dozens of state parties. "Everyone, including Republican voters who reject Trump's chaos, division, and violence, has a home in President Biden's campaign," said Munoz, the Biden campaign aide. The ads will feature onetime Trump voters explaining why they decided not to vote for him again. A political action committee called "Haley Voters for Biden" is also trying to persuade Haley voters to support Biden, according to Semafor.
Persons: Joe Biden, Sara Stathas, Donald Trump, Biden, Nikki Haley's, Kevin Munoz, Haley, Trump, Nikki Haley, Allison Joyce Allison Joyce, Liz Cheney, Chris Christie, Cheney, Christie, Biden outraised Trump, Haley's bundlers, Haley bundlers, MAGA, X George Conway, Conway, Biden's, Munoz, Bill Kristol, Reagan, Team Biden, Bill Kristol Michael Brochstein, Mike Madrid, Chris Sununu, Joseph Prezioso Organizations: Hillside Boys, Girls Club, Bloomberg, Getty, Democratic, Republican Party, Republican, CNBC, Former U.S, United, REUTERS, Reuters, Democratic Biden, Trump, Biden, New, New Jersey Gov, Republicans, Democratic National Convention, CNN, Trump Republican, South, GOP, Biden Victory Fund, Fund, Democratic National Committee, Haley Republicans, WI, Team, Against Trump, Trump PAC, Lincoln, UN, New Hampshire, Winnacunnet, School, AFP Locations: Milwaukee , Wisconsin, Charleston , South Carolina, U.S, Wyoming, New Jersey, South Carolina, Madrid, Hampton , New Hampshire
Read previewFormer President Donald Trump is backing a last-minute change to Nebraska's election law that could deprive President Joe Biden of an Electoral College vote that would loom large in a close race. The rest of the state is heavily conservative and has consistently handed its four other electoral votes to Republican nominees. Republicans could make Biden's reelection path more difficult if they successfully changed the law. It's worth being skeptical that Republicans can push this throughNebraska Republicans have gnashed their teeth over the law for years. Pete Ricketts to the US Senate, a move that angered some Nebraska Republicans given that Ricketts had endorsed Pillen over Herbster.
Persons: , Donald Trump, Joe Biden, Jim Pillen of, Jim Pillen, Trump, Don Bacon, Semafor, Pillen, Charlie Kirk's, Kirk, hasn't, Barack Obama, Sen, Loren Lippincott, it's, Lippincott, Machaela Cavanaugh, Mike McDonnell, Megan Hunt, Hunt, McDonnell, Charles Herbster, Trump's, Pete Ricketts, Ricketts Organizations: Service, Electoral, Trump, Business, Congressional, GOP, Republican, Nebraska, White, Representatives, Nebraska Republicans, Democratic, Electoral College, Democrat, Congressional District, Lincoln Journal Star, Democratic Party, Republican Party, Nebraska Republican, Getty, Gov, Senate Locations: Jim Pillen of Nebraska, Nebraska, Omaha, Wisconsin , Michigan, Pennsylvania, Georgia, Arizona, Nevada, Herbster, Maine
Advertising guru Martin Sorrell has questioned the prospects of Donald Trump's newly public Truth Social platform, saying it was currently "unfathomable" that clients would want to buy ads on the site. Sorrell, founder and executive chairman of digital marketing firm S4 Capital, said when asked if clients were likely to advertise. Trump Media & Technology Group (TMTG), the company behind Truth Social, went public Tuesday after merging with shell company Digital World Acquisition in a deal known as a special purpose acquisition (SPAC). A spokesperson for TMTG firmly dismissed claims that the share price move defied logic when contacted by CNBC. Truth Social lost $10.6 million in the first nine months of 2023 on revenues of $3.4 million.
Persons: Martin Sorrell, Donald Trump's, Sorrell, ", TMTG, Semafor, Trump Organizations: CNBC, Trump Media & Technology, Truth, Associated Press, WPP, Twitter Locations: British, U.S
A recent global report found a decline in young people's happiness in North America. That's upending the idea that happiness in life follows a U shape. In North America, it now looks more like a J. Related storiesShe added that "younger adults in North America also reported lower levels of trust in the government, higher levels of concerns around corruption. AdvertisementThe idea of dual peaks in contentedness came from a 2010 article in The Economist called "The U-bend of life."
Persons: That's, , Laura Aknin, Aknin, They're, Vivek Murthy, Christopher Wong Michaelson, Thomas Organizations: Service, Gallup, US, University of St, New York University Locations: North America, contentedness, Finland, Czechia, Lithuania, Slovenia
Don Lemon said Elon Musk was "mad" over their interview when Musk canceled an X partnership. AdvertisementDon Lemon said Elon Musk abruptly canceled his partnership with X because the billionaire was "mad" at him over their recent interview, which he subsequently described in a video posted to Instagram as "tense." AdvertisementX and Musk have said Lemon is still free to post his show on X without the support of a formal partnership. Lemon shared a few clips of the interview on CNN's Erin Burnett "OutFront" on Wednesday evening. In a post on X in August, Musk said he had a ketamine prescription for when his "brain chemistry sometimes goes super negative."
Persons: Don Lemon, Elon Musk, Musk, , Lemon, Erin Burnett, X, Don, Donald Trump, Trump, hasn't Organizations: CNN, Service, SpaceX, X, Business Locations: Florida
But there are some signs of hope. The new class of news start-ups — Puck, Punchbowl News, The Ankler and Semafor are among the most prominent — have kept spending down and hired carefully. They have attracted top journalists by putting them at the heart of the enterprise, sometimes as part owners in the companies. “There was possibly a mismatch 10 or 15 years ago between funding structures and media companies,” said Jon Kelly, the co-founder and editor in chief of Puck, whose 14 reporters write about topics including politics, finance and media. “And I think that the entire industry has learned from that.”
Persons: , fatefully, , Jon Kelly, Puck Organizations: Punchbowl News Locations: Punchbowl
After building a global newspaper empire and witnessing the ratings and profits success of the right-wing Fox News Channel in the US, Murdoch sought to break into the UK television business, replicating the opinion-driven talk format. “A large proportion of our live viewing is already through streaming on televisions and we intend to continue to grow this. Clips will continue to be shared through social media,” Taunton said. “More and more, audiences are consuming video news and opinion online through their phones and this evolution is set to continue. “Creating professional quality, TV-like video that does well digitally – via streaming services and social media – will be the focus of future investment for all our brands, including Talk.”
Persons: Rupert Murdoch, Scott Taunton, , Murdoch, ” Taunton, Piers Morgan, Morgan, ” Morgan, that’s, Tucker Carlson, Don Lemon, It’s, Organizations: New, New York CNN, Fox News, CNN, Fox News Channel, BBC, Sky News, YouTube Locations: New York, TalkTV
Google CEO Sundar Pichai says the company got it wrong after its flagship AI system Gemini showed bias, which sparked backlash from some users. In a memo sent to employees, which Business Insider obtained, Pichai acknowledged the recent controversy over Gemini. Pichai said in the memo: "I want to address the recent issues with problematic text and image responses in the Gemini app (formerly Bard). Pichai appeared to acknowledge some of this criticism in the memo sent to staff. Read the full memo that Pichai sent to staffers:
Persons: Sundar Pichai, Pichai, Semafor, Bard, Elon Musk, Adolf Hitler, Gemini, Hitler Organizations: Google, BI, Tesla, Business
Google CEO Sundar Pichai speaks in conversation with Emily Chang during the APEC CEO Summit at Moscone West on November 16, 2023 in San Francisco, California. In a memo Tuesday evening, Google CEO Sundar Pichai addressed the company’s artificial intelligence mistakes, which led to Google taking its Gemini image-generation feature offline for further testing. Google introduced the image generator earlier this month through Gemini, the company’s main group of AI models. Over the past week, users discovered historical inaccuracies that went viral online, and the company pulled the feature last week, saying it would re-launch it in the coming weeks. This has to be our approach for all our products, including our emerging AI products.”Read the full text of the memo here:
Persons: Sundar Pichai, Emily Chang, Pichai, , ” Pichai, Bard, Gemini, “ We’ve, Organizations: APEC, Summit, Moscone West, Google, Semafor, Gemini Locations: San Francisco , California
Google CEO Sundar Pichai says the company got it wrong as controversy swirls over its Gemini AI. Pichai made the comments in a memo sent to staff and obtained by Business Insider. Google faced backlash after users complained Gemini was generating historically inaccurate images. AdvertisementGoogle CEO Sundar Pichai says the company "got it wrong" after its flagship AI system Gemini showed bias, which sparked backlash from some users. In a memo sent to employees, which Business Insider obtained, Pichai acknowledged the recent controversy over Gemini.
Persons: Sundar Pichai, Pichai, Gemini, , Semafor, Bard Organizations: Gemini, Business, Google, Service
Democratic former Rep. Tom Suozzi won Tuesday night's special election in New York. As a result, Trump took to Truth Social to insult the GOP's losing candidate, Mazi Pilip. AdvertisementFormer President Donald Trump railed against the GOP's losing candidate in New York's 3rd Congressional District's special election on Tuesday, attributing her loss to not having supported him enough. Democratic former Rep. Tom Suozzi bested Republican candidate Mazi Pilip on Tuesday by just under 8 percentage points, surpassing expectations set from prior polling amid a heavy New York snowstorm. Trump wrote, referring to Pilip being registered to vote as a Democrat for over a decade when chosen as the GOP's nominee.
Persons: Tom Suozzi, Trump, Mazi, , Donald Trump, Mazi Pilip, Republican Party's, lambasting Pilip, Mazi Melesa, George Santos, MAGA, Santos, Semafor Organizations: Democratic, Rep, Service, New, Republican, Republicans, THE REPUBLICAN, House, New York House Republicans, Base Locations: New York, America, New York's, York, New
Look no further than Tuesday night when House Republicans plowed ahead with two votes that they didn't have to hold. AdvertisementAcross the Capitol, Senate Minority Leader Mitch McConnell is facing increasing calls for him to step aside after conservatives nuked a bipartisan border security-Ukraine aid deal that some Republicans themselves said they had wanted. After all, it was Trump who instructed Republicans to kill the bipartisan immigration deal before the text was actually released. "Politics used to be the art of the possible," Sen. Mitt Romney, a Utah Republican, told reporters, per Semafor. "Some of them have been very clear with me that they have political differences with the bill," Lankford said in a floor speech on Wednesday.
Persons: Mike Johnson, befuddled, Al Green, it's, Johnson, Mitch McConnell, nuked, McConnell, Trump, Donald Trump, George W, Bush, Sen, Mitt Romney, We've, James Lankford, Lankford, Joe Biden Organizations: Service, Republicans, Republican Party, Business, GOP, Texas Democrat, Politico, Democratic, Democratic Senate, Utah Republican, Chamber of Commerce, Border Patrol Union, Trump, Oklahoma Republican Locations: Washington, Texas, Ukraine, Iraq, Utah, Oklahoma
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNY Community Bancorp plunge: What it means for regional banking sector at largeLiz Hoffman, Semafor business and finance editor, joins 'Squawk Box' to discuss turmoil facing New York Community Bancorp, what it means for the regional banking sector at large, and more.
Persons: Liz Hoffman Organizations: Bancorp, New, Community Bancorp
The Messenger, a startup digital news website that launched in May, is shutting down after reports that it was running out of money, an executive at the outlet who has been briefed on the matter told NBC News on Wednesday. The Messenger launched in May with Jimmy Finkelstein, who previously owned The Hollywood Reporter and The Hill, at the helm. It promised to provide "thorough, objective, non-partisan, and timely news coverage" in a time of bias and misinformation. Earlier this month, Semafor reported that The Messenger's board was considering shutting down the website as the outlet was set to run out of funds by the end of January. A day before staff were informed they were now without jobs, The New York Post reported that Finklestein was working to secure deals to inject new revenue into The Messenger to keep the site going.
Persons: Jimmy Finkelstein, Semafor, Finklestein, Conde Nast Organizations: NBC News, Hollywood, New York Post, Los Angeles Times, Forbes, Time, Sports Illustrated, Tech Crunch, Business
Listen, I'm not saying that all the good vibes Americans are suddenly feeling about the economy boil down to stocks, gas prices, and eggs. What improved America's economic vibes was basically three things: the soaring stock market, falling gas prices, and eggs. Research shows that consumers feel more pessimistic when gas prices go up — James Surowiecki points out in The Atlantic that high gas prices also make people less happy and more likely to hate the president. If oil prices stay relatively low and, in turn, keep gas prices down, less exasperated drivers could help Joe Biden keep his job come November. There are all sorts of geopolitical threats and unknowns that could throw global trade and oil prices (and thus gas prices) into chaos.
Persons: I'm, there's, There's, Jordan Weissmann, , It's, James Surowiecki, Joe Biden, they're, Emily Stewart Organizations: University of, Dow, Federal Reserve Bank of San, AAA, Research, Bureau of Labor Statistics, Times, Business Locations: America, The
Read previewAnna Wintour is famous for her intimidating black shades — and one writer says she didn't remove them while laying off workers at music site Pitchfork. This story is available exclusively to Business Insider subscribers. Allison Hussey, a former staff writer for Pitchfork, wrote on X that the longtime Vogue editor kept her sunglasses on in a meeting informing staff they were losing their jobs. Wintour was elevated to global chief content officer of Condé Nast and global editorial director of Vogue in 2020. Condé Nast did not immediately respond to a request for comment from Business Insider, made outside normal working hours.
Persons: , Anna Wintour, Allison Hussey, Wintour, Condé Nast, Anna Wintour —, Hussey, Puja Patel, Semafor, Meryl Streep's, Wears, Meryl Streep, Catherine Martin, Baz Luhrmann, Vittorio Zunino Celotto, Lauren Indvik Organizations: Service, Pitchfork, Business, Vogue, GQ, Fox, CNN, Financial, Ritz Locations: London
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