Connect with us

Government

It’s Official: Top NBCUni Ad Exec And World Economic Forum Taskforce Chair Is Twitter’s New CEO

It’s Official: Top NBCUni Ad Exec And World Economic Forum Taskforce Chair Is Twitter’s New CEO

Update: It’s official – moments ago NBC confirmed…

Published

on

It's Official: Top NBCUni Ad Exec And World Economic Forum Taskforce Chair Is Twitter's New CEO

Update: It's official - moments ago NBC confirmed that its head of advertising is leaving the company...

NBCUniversal today announced that Linda Yaccarino is leaving the company, effective immediately. Mark Marshall, currently President, Advertising Sales and Client Partnerships, will become interim Chairman of NBCUniversal's Advertising and Partnerships group, reporting to Mark Lazarus, Chairman, NBCUniversal Television and Streaming.

Mike Cavanagh, President of Comcast Corporation said, "We are grateful for Linda Yaccarino's leadership of NBCUniversal's Advertising Sales business, and for the innovative team and platform she has built. Linda has made countless contributions to the company during her twelve year tenure, and we wish her the best."

Linda Yaccarino said, "It has been an absolute honor to be part of Comcast NBCUniversal and lead the most incredible team. We've transformed our company and the entire industry—and I am so proud of what we've accomplished together, and grateful to my colleagues and mentors, especially Brian Roberts, Mike Cavanagh and the entire NBCU leadership team."

Mark Lazarus was named Chairman, NBCUniversal Telvision and Streaming in May

... with WaPo also confirming that her next stop is Twitter:

  • *MUSK PICKS NBCUNIVERSAL'S YACCARINO TO BE NEW TWITTER CEO: WAPO

* * *

Are Twitter's days of encouraging free speech and independent thought numbered... or is Musk, just days after unveiling that Tucker is joining, playing 4D chess?

Just hours after Elon Musk announced he had picked a new female Twitter CEO candidate, the WSJ revealed the identity of the person in talks to become the next CEO of the world's most important social network: it is Linda Yaccarino, who is currently NBCUniversal’s influential head of advertising.

Yaccarino, who is chairman of global advertising and partnerships at NBCU, has been with NBCU for more than a decade, where she has been an industry advocate for finding better ways to measure the effectiveness of advertising. As head of NBCU’s advertising sales, she was key in the launch of the company’s ad-supported Peacock streaming service.

Elon Musk, Twitter’s owner, said in a tweet Thursday that he had hired a new CEO, but didn’t say who it was. “She will be starting in ~6 weeks!” Mr. Musk said in the tweet.

In some ways, Musk's pick of Yaccarino is not a surprise: as Chair of the Advertising Council's Board of Directors and arguably NBCU's top advertising exec, she is meant to fill a critical void at the new Twitter: that of advertising. After all, despite having massive traffic, Musk's social network - which as a reminder cost him $44 billion - has been hemorhaging ad revenue as woke brands have abandoned the website.

Of the top 100 advertisers on Twitter before Mr. Musk bought the company, 37 spent nothing on Twitter advertising during the first quarter of this year, according to market-intelligence firm Sensor Tower, while an additional 24 brands reduced their average monthly Twitter ad spending by 80% or more.

As such, it will be Yaccarino's job to convince advertisers to return: Yaccarino, who oversees roughly $13 billion in annual ad revenue, is well-known for her tight relationship with marketers and ad agencies. Yaccarino has a reputation for hard-nosed negotiating tactics, and media buyers have described her as the “velvet hammer.”

Musk's announcement of the new CEO came days before one of the biggest events of the year for NBCU, the company’s annual pitch event for advertisers, known as the upfront, which is scheduled for Monday in New York. And according to the WSJ, an NBCU spokesman said Ms. Yaccarino is in back-to-back rehearsals for NBCU’s upfront.

On the other hand, the hiring of Yaccarino to head the social network which in recent months has become the bane of liberals and progressives through its encouragement of free speech and independent thought, both of which are despised and suppressed by the left, could be a problem.

For one, according to her LInkedIn profile, Yaccarino is the "Chairman of the WEF's Taskforce on Future of Work and sits on the WEF's Media, Entertainment and Culture Industry Governors Steering Committee. She is also highly engaged with the Value in Media initiative." Most recently, she delivered the following speech in Jan 2020: 'World Economic Forum: Creating the Workplace of the Future by Focusing on People."

Source: LinkedIn

Additionally, in 2014 Yaccarino joined the Ad Council Board of Directors and became a member of the Executive Committee in 2015. She first served as Vice Chair before her appointment to Board Chair from 2021-2022.

And then there's this: in 2021-2022, as Ad Council Chair, "Yaccarino partnered with the business community, the White House, and government agencies to create a COVID-19 vaccination campaign, featuring Pope Francis and reaching over 200 million Americans."

And finally:

As an industry advocate, Yaccarino has called for a return to values-based, trusted partnerships, spotlighting the most important issues facing her colleagues and peers. As 2021-2022 Ad Council Chair, Yaccarino partnered with the business community, the White House, and government agencies to create a COVID-19 vaccination campaign, featuring Pope Francis and reaching over 200 million Americans. At NBCU, she uses the power of media to advance equity and helps to launch DEI-focused initiatives, including BOLD, a program for employing veterans; #ShesMy, a campaign to uplift women and girls; Scene in Color, a collaboration with Target to elevate emerging BIPOC film creatives; and a partnership with Telemundo to release a Latina-centric storytelling guide. 

Things get a little more complicated however, when one considers that in May 2018 Trump Named Yaccarino (alongside Bill Belichick and a bunch of other folks) to a two-year term on the President's Council on Sports, Fitness and Nutrition. It wasn't immediately clear how long she lasted in this particular role.

Bottom line: despite that last rather odd detour, which can be attributed to Trump's habitual lack of due diligence, Yaccarino appears to be the perfect establishment hire, one who will help Twitter recover most of its lost ad revenue... the trade-off may very well be that in the process twitter may just become the same company it was before its acqusition by Trump.

In response to the news of her hiring, the outcry has been - as one would imagine - extremely polarized.

Finally, the boss himself:

In conclusion, while it is certainly possible that Musk is playing 4D chess here, a prevailing sentiment among the replies is that "Twitter was fun for a few months. See you guys in the gulag." One can only hope that it is wrong.

Tyler Durden Fri, 05/12/2023 - 09:05

Read More

Continue Reading

International

Analyst reviews Apple stock price target amid challenges

Here’s what could happen to Apple shares next.

Published

on

They said it was bound to happen.

It was Jan. 11, 2024 when software giant Microsoft  (MSFT)  briefly passed Apple  (AAPL)  as the most valuable company in the world.

Microsoft's stock closed 0.5% higher, giving it a market valuation of $2.859 trillion. 

It rose as much as 2% during the session and the company was briefly worth $2.903 trillion. Apple closed 0.3% lower, giving the company a market capitalization of $2.886 trillion. 

"It was inevitable that Microsoft would overtake Apple since Microsoft is growing faster and has more to benefit from the generative AI revolution," D.A. Davidson analyst Gil Luria said at the time, according to Reuters.

The two tech titans have jostled for top spot over the years and Microsoft was ahead at last check, with a market cap of $3.085 trillion, compared with Apple's value of $2.684 trillion.

Analysts noted that Apple had been dealing with weakening demand, including for the iPhone, the company’s main source of revenue. 

Demand in China, a major market, has slumped as the country's economy makes a slow recovery from the pandemic and competition from Huawei.

Sales in China of Apple's iPhone fell by 24% in the first six weeks of 2024 compared with a year earlier, according to research firm Counterpoint, as the company contended with stiff competition from a resurgent Huawei "while getting squeezed in the middle on aggressive pricing from the likes of OPPO, vivo and Xiaomi," said senior Analyst Mengmeng Zhang.

“Although the iPhone 15 is a great device, it has no significant upgrades from the previous version, so consumers feel fine holding on to the older-generation iPhones for now," he said.

A man scrolling through Netflix on an Apple iPad Pro. Photo by Phil Barker/Future Publishing via Getty Images.

Future Publishing/Getty Images

Big plans for China

Counterpoint said that the first six weeks of 2023 saw abnormally high numbers with significant unit sales being deferred from December 2022 due to production issues.

Apple is planning to open its eighth store in Shanghai – and its 47th across China – on March 21.

Related: Tech News Now: OpenAI says Musk contract 'never existed', Xiaomi's EV, and more

The company also plans to expand its research centre in Shanghai to support all of its product lines and open a new lab in southern tech hub Shenzhen later this year, according to the South China Morning Post.

Meanwhile, over in Europe, Apple announced changes to comply with the European Union's Digital Markets Act (DMA), which went into effect last week, Reuters reported on March 12.

Beginning this spring, software developers operating in Europe will be able to distribute apps to EU customers directly from their own websites instead of through the App Store.

"To reflect the DMA’s changes, users in the EU can install apps from alternative app marketplaces in iOS 17.4 and later," Apple said on its website, referring to the software platform that runs iPhones and iPads. 

"Users will be able to download an alternative marketplace app from the marketplace developer’s website," the company said.

Apple has also said it will appeal a $2 billion EU antitrust fine for thwarting competition from Spotify  (SPOT)  and other music streaming rivals via restrictions on the App Store.

The company's shares have suffered amid all this upheaval, but some analysts still see good things in Apple's future.

Bank of America Securities confirmed its positive stance on Apple, maintaining a buy rating with a steady price target of $225, according to Investing.com

The firm's analysis highlighted Apple's pricing strategy evolution since the introduction of the first iPhone in 2007, with initial prices set at $499 for the 4GB model and $599 for the 8GB model.

BofA said that Apple has consistently launched new iPhone models, including the Pro/Pro Max versions, to target the premium market. 

Analyst says Apple selloff 'overdone'

Concurrently, prices for previous models are typically reduced by about $100 with each new release. 

This strategy, coupled with installment plans from Apple and carriers, has contributed to the iPhone's installed base reaching a record 1.2 billion in 2023, the firm said.

More Tech Stocks:

Apple has effectively shifted its sales mix toward higher-value units despite experiencing slower unit sales, BofA said.

This trend is expected to persist and could help mitigate potential unit sales weaknesses, particularly in China. 

BofA also noted Apple's dominance in the high-end market, maintaining a market share of over 90% in the $1,000 and above price band for the past three years.

The firm also cited the anticipation of a multi-year iPhone cycle propelled by next-generation AI technology, robust services growth, and the potential for margin expansion.

On Monday, Evercore ISI analysts said they believed that the sell-off in the iPhone maker’s shares may be “overdone.”

The firm said that investors' growing preference for AI-focused stocks like Nvidia  (NVDA)  has led to a reallocation of funds away from Apple. 

In addition, Evercore said concerns over weakening demand in China, where Apple may be losing market share in the smartphone segment, have affected investor sentiment.

And then ongoing regulatory issues continue to have an impact on investor confidence in the world's second-biggest company.

“We think the sell-off is rather overdone, while we suspect there is strong valuation support at current levels to down 10%, there are three distinct drivers that could unlock upside on the stock from here – a) Cap allocation, b) AI inferencing, and c) Risk-off/defensive shift," the firm said in a research note.

Related: Veteran fund manager picks favorite stocks for 2024

Read More

Continue Reading

International

Major typhoid fever surveillance study in sub-Saharan Africa indicates need for the introduction of typhoid conjugate vaccines in endemic countries

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high…

Published

on

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

Credit: IVI

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

 

The findings from this 4-year study, the Severe Typhoid in Africa (SETA) program, offers new typhoid fever burden estimates from six countries: Burkina Faso, Democratic Republic of the Congo (DRC), Ethiopia, Ghana, Madagascar, and Nigeria, with four countries recording more than 100 cases for every 100,000 person-years of observation, which is considered a high burden. The highest incidence of typhoid was found in DRC with 315 cases per 100,000 people while children between 2-14 years of age were shown to be at highest risk across all 25 study sites.

 

There are an estimated 12.5 to 16.3 million cases of typhoid every year with 140,000 deaths. However, with generic symptoms such as fever, fatigue, and abdominal pain, and the need for blood culture sampling to make a definitive diagnosis, it is difficult for governments to capture the true burden of typhoid in their countries.

 

“Our goal through SETA was to address these gaps in typhoid disease burden data,” said lead author Dr. Florian Marks, Deputy Director General of the International Vaccine Institute (IVI). “Our estimates indicate that introduction of TCV in endemic settings would go to lengths in protecting communities, especially school-aged children, against this potentially deadly—but preventable—disease.”

 

In addition to disease incidence, this study also showed that the emergence of antimicrobial resistance (AMR) in Salmonella Typhi, the bacteria that causes typhoid fever, has led to more reliance beyond the traditional first line of antibiotic treatment. If left untreated, severe cases of the disease can lead to intestinal perforation and even death. This suggests that prevention through vaccination may play a critical role in not only protecting against typhoid fever but reducing the spread of drug-resistant strains of the bacteria.

 

There are two TCVs prequalified by the World Health Organization (WHO) and available through Gavi, the Vaccine Alliance. In February 2024, IVI and SK bioscience announced that a third TCV, SKYTyphoid™, also achieved WHO PQ, paving the way for public procurement and increasing the global supply.

 

Alongside the SETA disease burden study, IVI has been working with colleagues in three African countries to show the real-world impact of TCV vaccination. These studies include a cluster-randomized trial in Agogo, Ghana and two effectiveness studies following mass vaccination in Kisantu, DRC and Imerintsiatosika, Madagascar.

 

Dr. Birkneh Tilahun Tadesse, Associate Director General at IVI and Head of the Real-World Evidence Department, explains, “Through these vaccine effectiveness studies, we aim to show the full public health value of TCV in settings that are directly impacted by a high burden of typhoid fever.” He adds, “Our final objective of course is to eliminate typhoid or to at least reduce the burden to low incidence levels, and that’s what we are attempting in Fiji with an island-wide vaccination campaign.”

 

As more countries in typhoid endemic countries, namely in sub-Saharan Africa and South Asia, consider TCV in national immunization programs, these data will help inform evidence-based policy decisions around typhoid prevention and control.

 

###

 

About the International Vaccine Institute (IVI)
The International Vaccine Institute (IVI) is a non-profit international organization established in 1997 at the initiative of the United Nations Development Programme with a mission to discover, develop, and deliver safe, effective, and affordable vaccines for global health.

IVI’s current portfolio includes vaccines at all stages of pre-clinical and clinical development for infectious diseases that disproportionately affect low- and middle-income countries, such as cholera, typhoid, chikungunya, shigella, salmonella, schistosomiasis, hepatitis E, HPV, COVID-19, and more. IVI developed the world’s first low-cost oral cholera vaccine, pre-qualified by the World Health Organization (WHO) and developed a new-generation typhoid conjugate vaccine that is recently pre-qualified by WHO.

IVI is headquartered in Seoul, Republic of Korea with a Europe Regional Office in Sweden, a Country Office in Austria, and Collaborating Centers in Ghana, Ethiopia, and Madagascar. 39 countries and the WHO are members of IVI, and the governments of the Republic of Korea, Sweden, India, Finland, and Thailand provide state funding. For more information, please visit https://www.ivi.int.

 

CONTACT

Aerie Em, Global Communications & Advocacy Manager
+82 2 881 1386 | aerie.em@ivi.int


Read More

Continue Reading

International

US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

Earlier today, CNBC’s…

Published

on

US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever... And Debt Explodes

Earlier today, CNBC's Brian Sullivan took a horse dose of Red Pills when, about six months after our readers, he learned that the US is issuing $1 trillion in debt every 100 days, which prompted him to rage tweet, (or rageX, not sure what the proper term is here) the following:

We’ve added 60% to national debt since 2018. Germany - a country with major economic woes - added ‘just’ 32%.   

Maybe it will never matter.   Maybe MMT is real.   Maybe we just cancel or inflate it out. Maybe career real estate borrowers or career politicians aren’t the answer.

I have no idea.  Only time will tell.   But it’s going to be fascinating to watch it play out.

He is right: it will be fascinating, and the latest budget deficit data simply confirmed that the day of reckoning will come very soon, certainly sooner than the two years that One River's Eric Peters predicted this weekend for the coming "US debt sustainability crisis."

According to the US Treasury, in February, the US collected $271 billion in various tax receipts, and spent $567 billion, more than double what it collected.

The two charts below show the divergence in US tax receipts which have flatlined (on a trailing 6M basis) since the covid pandemic in 2020 (with occasional stimmy-driven surges)...

... and spending which is about 50% higher compared to where it was in 2020.

The end result is that in February, the budget deficit rose to $296.3 billion, up 12.9% from a year prior, and the second highest February deficit on record.

And the punchline: on a cumulative basis, the budget deficit in fiscal 2024 which began on October 1, 2023 is now $828 billion, the second largest cumulative deficit through February on record, surpassed only by the peak covid year of 2021.

But wait there's more: because in a world where the US is spending more than twice what it is collecting, the endgame is clear: debt collapse, and while it won't be tomorrow, or the week after, it is coming... and it's also why the US is now selling $1 trillion in debt every 100 days just to keep operating (and absorbing all those millions of illegal immigrants who will keep voting democrat to preserve the socialist system of the US, so beloved by the Soros clan).

And it gets even worse, because we are now in the ponzi finance stage of the Minsky cycle, with total interest on the debt annualizing well above $1 trillion, and rising every day

... having already surpassed total US defense spending and soon to surpass total health spending and, finally all social security spending, the largest spending category of all, which means that US debt will now rise exponentially higher until the inevitable moment when the US dollar loses its reserve status and it all comes crashing down.

We conclude with another observation by CNBC's Brian Sullivan, who quotes an email by a DC strategist...

.. which lays out the proposed Biden budget as follows:

The budget deficit will growth another $16 TRILLION over next 10 years. Thats *with* the proposed massive tax hikes.

Without them the deficit will grow $19 trillion.

That's why you will hear the "deficit is being reduced by $3 trillion" over the decade.

No family budget or business could exist with this kind of math.

Of course, in the long run, neither can the US... and since neither party will ever cut the spending which everyone by now is so addicted to, the best anyone can do is start planning for the endgame.

Tyler Durden Tue, 03/12/2024 - 18:40

Read More

Continue Reading

Trending