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Here are the headlines you Need2Know for Tuesday, April 26, 2022:
MUSK SEALS DEAL ON TWITTER
$44 BILLION PRICE TAG: Elon Musk has officially bought Twitter for roughly $44 billion, at $54.20 per share. The historic transaction caps off a month-long whirlwind where Musk became one of Twitter's largest shareholders, was offered a seat on its board, turned down that seat, then ultimately put in a rocky-but-successful bid to buy the company. The outspoken Tesla CEO, who is also the world’s wealthiest person, said he wants to privatize Twitter because he thinks it’s not living up to its potential as a platform for free speech. Twitter stock was up nearly 6% following the announcement, hovering around $52. One of the first ripple effects came as value of the meme cryptocurrency Dogecoin (a Musk favorite) jumped 27% after news broke. The deal is expected to close by the end of the year. CHEDDAR
TO TELL THE TRUTH: Former President Donald Trump says he won’t rejoin Twitter given the opportunity, but instead will post exclusively to his own Truth Social network. However, some Trump advisers don’t believe he can stay away: “He loved his Twitter. Don’t let anyone tell you otherwise.” WASHINGTON POST
UKRAINE-U.S. UNITY
Russia launched a barrage of missiles on at least five railway stations across central and western Ukraine hours after Secretary of State Antony J. Blinken and Defense Secretary Lloyd J. Austin III met with Ukraine President Volodymyr Zelensky in a high-stakes visit to Kyiv. Speaking after the trip to Ukraine’s capital, Austin offered a rare message of hope, declaring that Russia is failing and Ukraine is succeeding. Russia has warned the U.S. to stop sending military aid to Ukraine, saying it's only inflating the conflict, but Blinken and Austin told Zelensky that more than $322 million in new military financing is on the way. NY TIMES
CHINA’S COVID COMEBACK
Beijing has kicked off mass Covid testing after a spike in cases. Chaoyang, one of the city's largest districts, is launching three rounds of mass testing for its 3.5 million residents after 11 cases were detected in a 24-hour period, sparking panic buying. Shanghai, meanwhile, continues to grapple with new waves of infections, even as the country works to abolish the virus under a zero-Covid policy. On Sunday alone, Shanghai reported more than 19,000 new cases and 51 deaths, causing authorities to erect fences around buildings to limit people’s movement. AXIOS
TRUMP HELD IN CONTEMPT
A judge held former President Donald Trump in contempt, fining him $10,000 per day for failing to comply with a subpoena requiring him to turn over documents to New York Attorney General Letitia James as part of a sprawling civil probe of Trump’s business practices. James did not seek to jail Trump, but asked New York Supreme Court Justice Arthur Engoron to penalize him financially. Engoron agreed to fine Trump $10,000 daily starting today until he complies. Trump's attorney said they plan to appeal. CHEDDAR
DEATH PENALTY DELAYED
Texas' highest criminal court delayed the execution of Melissa Lucio, who was set to die tomorrow after being convicted of capital murder in the 2007 death of her toddler daughter, Mariah. Prosecutors argued Lucio was an abusive mother who likely caused her daughter's fatal injuries, while Lucio’s attorneys said the injuries stemmed from a fall down a staircase. The case has gained national attention after the release of the 2020 documentary "The State of Texas vs. Melissa," and celebrities like Kim Kardashian have come to Lucio’s defense. Now, a lower court will review Lucio's claims that her execution should be halted due to new evidence that could exonerate her. AP
ELECTRIC CORVETTE
General Motors will produce an “electrified” Chevrolet Corvette next year, followed by an all-electric version soon after that. The automaker has announced electric versions of other Chevy models such as the Silverado, Equinox and Blazer, so it’s no surprise that Corvettes have been added to that list as GM works toward its goal of exclusively selling EVs by 2035. Though Corvette enthusiasts may balk at the idea of electrifying the iconic sports car, they might understand it from a business perspective: When GM rival Ford released an electric version of the Mustang, they sold out. CNBC
ARKANSAS CORPORATIONS INCENTIVIZE
Tyson Foods is providing free education to all of its U.S. employees. It’s a four-year, $60 million investment for the food-processing company that will allow employees to earn college degrees at no cost. Tyson Foods is the second largest employer in Arkansas; the first is Walmart, which announced last July that it will pay 100% of associates' college tuition in a billion-dollar investment. As the labor market tightens, Arkansas’ top two employers are using free college and career advancement opportunities in the battle for employees. FORBES
The Arkansas Bowl: Tyson Chicken Wings vs. Walmart Supercenters.
CINEMACON KICKS OFF
CinemaCon 2022 is happening this week at Caesars Palace in Las Vegas. The self-proclaimed “largest and most important gathering of movie theater owners from around the world” is a trade show that serves as a hub for high-level conversations surrounding the state of the film industry. It also features upcoming film debuts, award shows and roundtables spotlighting Hollywood stars. This year, as theaters look to ride a post-pandemic wave, much of the chatter will likely surround Netflix’s recent stumble. Is this the demise of Netflix? Or is it just a speedbump? Are movie theaters in the midst of a major comeback? VARIETY
Theater owners claim they're The Good Guys of cinema.
NFL HOLIDAY TAKEOVER
CHRISTMAS: Apparently the NFL wants to be on TV during every holiday. It already owns Thanksgiving, but now, America will get three football games on Christmas. On a holiday typically designated for a full day of NBA games, the NFL has announced football will take place on Christmas 2022 and 2023. BLEACHER REPORT
BLACK FRIDAY: They aren’t stopping at Christmas, either. Amazon is hoping to broadcast an NFL game on Black Friday in what would be a match made in heaven for targeted ads. The NFL and Amazon want to take advantage of Black Friday’s shift to digital, as consumers move to online shopping rather than standing in line at Best Buy at 5 a.m. YAHOO
The footballs were hung by the chimney with care.
LEFTOVERS: CHIEF TACO OFFICER
Favor, a Texas-based food-delivery company, is looking for a CTO — not a chief technology officer, but a "Chief Taco Officer." The employee will be compensated $10,000 for taste-testing tacos and documenting the experience on social media this June and July. The chief taco officer will drive across Texas, staying in cities for two days while eating tacos delivered by Favor for at least two meals per day. However you spend your day outside the taco deliveries is up to you, and Favor will pay for lodging, travel and activities. The CTO will also receive free delivery from Favor for a year. To qualify, you must be a savvy content creator who is a current Texas resident. APPLY
Call me when they start looking for a Chief Pizza Officer.
CHEDDAR EXPLAINS:
Why American Gas Stations Are Turning Into Supermarkets
American gas stations are massive and only getting bigger. That's because most chains like Wawa, Sheetz and Buc-ee's sell way more than just gas. So when and why did gas stations change from single-pump service garages to supersized, all-in-one travel hubs? YOUTUBE
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