it all got very difficult for elon musk. a of criticism. hought it's not worth it, i bit off more than i could you, the deal is musk les financial than it used to look at i just get financial than it used to look at ijust get out of it. this way all of these spam accounts on twitter is the best way for elon musk to do that. we don't know what's going on in elon musk said but that certainly what many speculate. interesting stuff. as you say, the courts is the next step. thank you very much. president biden has signed an executive order to help safeguard women's access to abortion. this is in response to the supreme court overturning the landmark ruling that made the procedure legal across the united states back in 1973. speaking at the white house, mr biden again condemned the supreme court's decision. what we are witnessing is not a constitutional judgment, it was an exercise in raw political power. 0n the day the decision came down, i immediately announced what i would do but i also made it clear that based on the reasoning of the courts, t

elon musk is terminating his deal to buy twitter. we have alex sherman from cnbc.com reporting for you on the newsline and can share a bit more about what we have just learned in the last couple of minutes. alex, what is going on here? what was the final breaking point for elon musk? >> this has been a drumbeat for several months, where there has been a lot of smoke that elon musk was unhappy, with the arrangement of buying twitter. he has put in a filing with the sec saying he is terminating the deal. basically, what he is claiming is that he has asked twitter for data and other information for several months. twitter has failed to provide this data to him but he is claiming that this is a material adverse effect on the deal. there is of course, a clause that elon musk can get out of the deal, if such a clause is broken, in other words, if this information is not received he can get out of the deal, paying a $1 billion break fee. that is his contention. now, we are likely to see a lot of litigation following this, because, even thou

it is not just elon musk.here are entire teams of people passing information, that have been in contact daily about this kind of stuff. i think today it has been, what is twitter giving elon and what is elon demanding? i think twitter has said we will give you the firehose of tweets. we will give you every public tweet on the service. elon is clearly saying that is not sufficient for calculating what i need to calculate which is the percentage of bots. i think the real issue is they do not see eye-to-eye on the bot issue and clearly that is big enough for him to pull the offer. it feels like we have been building to this for some time. i have to imagine he had some buyer's remorse given he made his bid in april and we have seen what the market has done since then. caroline: it feels this is destined for the courts. >> i think so. twitter has said repeatedly we plan to enforce the merger agreement. they had come to an agreement. even him saying i am pulling out, my understanding is twitter legally can try and f

elon musk. "russia, hello?" johnson'. but even though he'll soon be gone, there's still hope that britain will continue to back ukraine. translation: now we're - defending western values here. modernising our army and providing sufficient weapons will bring peace to your country, to you in britain. russia's already targeting the city of slovyansk. it still outguns ukraine and has the advantage in electronic warfare. home—grown ingenuity and western support is making a difference. but is it sufficient to halt the russian advance? jonathan beale, bbc news, the donbas. russia has vetoed a un security council issued to keep a crucial border crossing to syria open. the authorisation is due to expire on sunday. it has been in effect since 2014. aid agencies and engineers say it risks putting billy as a people into starvation. the list of potential candidates to succeed borisjohnson as leader of the conservative party and become the next british prime minister has grown. rishi sunak, who resigned as finance minister on

elon musk. "russia, hello?" there's still hope that britain will continue to back ukraine. translation: now we're - defending western values here. modernising our army and providing sufficient weapons will bring peace to your country, to you in britain. russia's already targeting the city of slovyansk. it still outguns ukraine and has the advantage in electronic warfare. home—grown ingenuity and western support is making a difference. but is it sufficient to halt the russian advance? jonathan beale, bbc news, the donbas. let's get some of the day's other news. officials in indian—administered kashmir say at least 13 hindu pilgrims have died and dozens are missing in a flash flood triggered by a cloudburst near the amarnath cave shrine. a torrent of water rushed through the mountains inundating a base camp set up for hundreds of worshippers. reports say around 40 people are unaccounted for. a major network outage at one of canada's biggest telecom operators has caused chaos. banking, transport and government serv

elon musk has already put _ for the company. elon musk has already put pen _ for the company.o paper on - for the company. elon musk has already put pen to paper on thisj already put pen to paper on this deal, how can he get out of it now? if you talk to lawyers, which i have been doing, they are very sceptical about his arguments. he knew about the box before this deal, and now he is saying that the bot problem is why he wants to get out of the deal. of course, elon musk is shown over the years that he is willing to fight hard in a court of law to have his way, even when lawyers are telling him, dude, slow down, you're not going to win this one. he is more than willing to go and fight all the way. it is possible that it could be so painfulfor twitter that they do say fine, pay a smaller fee, they do say fine, pay a smaller fee, the $1 billion break—up fee, and we willjust walk away. the $1 billion break-up fee, and we willjust walk away.— willjust walk away. thank you for “oininu willjust walk away. thank you for joining us. _ willjust walk away. thank you for joining us. and

ann: well, elon musk is so singular.hing about this deal unfolded the way deals normally do. this sort of overnight purchase, where he was pressuring the company on twitter and it was signed almost immediately. if there is any lesson here, it is that if you have an erratic buyer to be a little bit more careful, at least in the drafting of the merger agreement, which is always tightly drafted, but a billion-dollar damages cap maybe they should not have included that part. i'm not sure how many lessons there are for the future because i'm not sure how many impulsive eyes of a 44 billion-dollar company would ordinarily see. -- impulsive buys of a company. the impression that must gave that he was buying it simply because he wanted to personally, they make this so extraordinary and hard to figure out what the next steps are. caroline: and of course the only winners are the lawyers. ann: well, they will certainly do pretty well. i think elon musk will win if he gets to walk away from this for $1 billion and nothing more. beca

. >> shareholders threatening to sue elon musk and we will be joined by their lawyer. >> a dangerous mission to save pets trapped in ukraine. >> what i basically was doing was flying the infrared drone over the cities and bombed out buildings and looking for any signs of life. >> incredible. an exclusive. we talked to the drone pilot who returned from the war zone. >>> good evening. thank you for being with us on this monday. we start off this week with one of our natural jules, the disaster unfolding now in yosemite and the wildfire is threatening now some of the world's oldest trees and they are the giant sequoias and forcing evacuations in the southern part of the park including this area where there is smoke and some of it is mated here to the bay area. it is hazy especially in the east and north bay with updates on the air-quality and saving those trees and a few minutes. >>> we will catch you up on some of the other headlines right now. schools in the east bay ransacked. richmond police investigated a string of attacks targeting elementary schools. this is what it looked like i

so that elon musk's position. how has - things. so that elon musk's position.as twitter responded? _ position. how has twitter responded? twitter - position. how has twitter responded? twitter has l responded ? twitter has responded? twitter has responded as they have pretty much been responding through this tumultuous deal. they have said repeatedly that they would enforce this merger which means they would sue and today, they said they intend to sue him, so unless something is either, i imagine there are very dramatic talks happening as we speak but unless something comes to fruition over the weekend, they come to some sort of terms, maybe a renegotiated price for this kind of deal, i imagine a lawsuit is being drafted currently and is being filed or will be filed on monday. it looks like a bit of a legal stand is imminent. what happens next? ~ ., , stand is imminent. what happens next? ., , ., stand is imminent. what happens next? ~ ., , ., ., stand is imminent. what happens next? ., , .,. , next? well, it goes to a very secific next? well, it goes to a very

coming up, twitter agreement to take elon musk to court and fast. we will talk about what is next in twitter v musk and out very own kurt wagner. this is bloomberg. ♪ round one goes to twitter. the company granted its request to fast-track his lawsuit against elon musk as they attempt to walk away from the $44 billion deal. kathy mccormick's at a five day trial to start in october. for more, we are joined by the columbia law school professor and faculty codirector along with kurt wagner. what happened in court today? the judge actually has covid. >> i was listening on the public tile. it felt really interesting to listen to arguments that way. there have been elements to this. the judge took a little time to review and think about things and issued a pretty quick verdict. based on the evidence and the argument they make. >> i understand that the judge is a stellar friendly judge or at least has made stellar friendly decisions in the past. what can you tell us about her? >> she is largely right down the middle as far as her elections. she is very good

the social media that form shares falling after elon musk walked away from a 44 billion-dollar deal to buy the company. muska alleges that they sent new data. twitter plans to send musk to close transaction. just ahead of our conversation, we understand from a lawyer for twitter that is to be said, twitter's lawyers saying musk's termination is invalid in wrongful and says that twitter has reached a no obligation. where are you out with this? >> we are getting to the fun part of the deal where all the lawyers are just going to start sending each other letters back and forth and we will have to parse through all this legally. you are right, now it's twitter's turn. on friday we were talking, -- you and i were live on air when we were reading the letter from elon musk's lawyers basically saying, twitter, you violated this agreement, now twitter has filed its response and basically said the opposite, we have upheld our version of the agreement, our part of the agreement, and it's you who has been misleading or violated rights, so we are clearly headed to a fork in both sides will get to a

elon musk is there. there's been a lot of talk about how awkward that might be, i spoke with a source today he says executives not interacting with each other and they're both on the grounds about 300 total. elon musk is supposed to talk tomorrow, saying all been venture capitalist will be interviewing him onstage. we may learn at that moment staff, where he started to talking what might have been, and what condition he might leave this company. i think the hope is, those who were there if it's close to a profit, we'll see if anyone talks afterwards. we can hear from eli mask about what he hopes and when he was to perceive. >> everyone else at that conference says what the heck? what's with this guy the way behaves publicly on twitter, if they ever did that they would be in serious hot water. david, girth anchor so much. always great that's an understatement. coming up, with roe overturned, america is already overturned when it comes to our foster care system. now it is going to brace for a whole lot wor

there has been some speculation that elon musk has an ulterior motive. increasingly bad one for the world's richest man. whether mr musk now has to buy twitter will be decided in a us court with some very expensive lawyers — which, fortunately for him, elon musk can very much afford. james clayton, bbc news, san francisco. earlier, i spoke to gerrit de vynck, a tech reporter at the washington post. he gave me his view on how elon musk withdrawal from the deal might actually work out. it's likely this will go to court, which could take months, years to come to fruition. it'll be very painful — especially for twitter, which has already been very distracted over the last several months, people have been quitting saying they don't want to work for mr musk. the company hasn't been able to make any major moves from a business perspective because it's been wrapped up in this deal — and it looks like this potential legal fight could drag out. and so, the board have said they want to enforce this deal, they want elon musk�*s money because they've gone through all

that may be in part due to their argument talking about the damage elon musk could potentially do hereit's deftly true there has long been this question about whether mr. musk has some sort of exceptionalism that would not make him bound to the same rules that apply to everyone else. this is an early shot across the bow to suggest this judge is willing to treat this case just like she would any other case. when you've got a deal that has gotten signed up on seller-friendly turns with verily -- friendly terms, with a drummed up reason to walk away, the muska team probably has an uphill battle to -- the musk team has an uphill battle to climb here. the delaware court is widely reputed to be the place where grown-ups go to transact with one another. if you put something down on paper and you promise it, they are going to hold you to it. on some level, yes, elon musk has a larger-than-life presence but that has a countervailing effect delaware court might have an opportunity to say even for this person, we are going to hold him to his agreement. emily: i am sure there will be many more twi

elon musk. "russia, hello?"nian troops is boris johnson. but even though he'll soon be gone, there's still hope that britain will continue to back ukraine. translation: now we're defending - western values here. modernising our army and providing sufficient weapons will bring peace to your country, to you in britain. russia's already targeting the city of slovyansk. it still outguns ukraine and has the advantage in electronic warfare. home—grown ingenuity and western support is making a difference. but is it sufficient to halt the russian advance? jonathan beale, bbc news, the donbas. this is bbc news, the headlines: a standoff between the world's richest man and twitter, as elon musk says he wants to pull out of his $a0—billion deal to buy the company. president biden signs an executive order to help safeguard american women's access to abortion. in the uk, the list of potential candidates to succeed boris johnson as leader of the conservative party and become the next british prime minister has grown. rishi su

ed: elon musk geithner sous, it could go to trial very quickly. -- elon musk counter sues.for years, some are bracing for. emily: what happens to twitter in that time? ed: it is a real financial headwind, it is a public relations headwind for them. emily: for employees? they are trying to recruit people, keep the trains running. ed: that was part of what twitter ceo said two employees on wednesday could we are facing a changing economy and a difficult case. raise yourself. emily: what are we hearing from employees? i know you were talking to a lot of people. ed: if feel like twitter's management has been on the back burner this whole time, they should have been more proactive. that elon musk's whole hand a few weeks ago -- it was the final straw for a lot of employees. and they have frozen hiring, cut projects. it is not as happy -- a happy place to work. emily: indeed. all right, ed ludlow, thank you. that does it for this edition of bloomberg technology. tomorrow, we will be joined by kate reiner, she will talk about the role telehealth will play in the state-by-state deb

elon musk saying he wants that moved to february or later.er wants the child to start in september. elon musk saying twitter drag its feet on the deal and is now rushing this trial. i want to bring back ed ludlow. not surprising that elon musk would not want to rush to court on tuesday. ed: most of the lawyers bloomberg has spoken to felt twitter had a pretty good case to hold muska to account to the deal -- musk to account to the deal. the expectation is this will be a protracted legal proceeding. elon musk is accusing twitter of having drag its feet over the negotiation of the deal and now rushing to court. the sticking point for him is -- and what people argue -- is twitter was not forthcoming in the timing, frequency, or what they shared on the issue of bots on the platform and he is going to argue that is adverse effect, thus avoiding the deal. emily: we were speaking with a professor earlier who said not surprising that the judge granted this request for a tuesday hearing. what is 20 happen on tuesday will be more surprising. he suggest

he waved due diligence, elon musk did. that has always been something that has not made any sense to a lot of people. katie: is there a possibility that someone not named elon musk could come in here and make a bid on twitter? >> that would be complicated, it would have to be pretty brave to make that decision. the interesting piece of reporting that we forget quickly about is that according to the washington post, elon musk started speaking to potential equity partners last week. as at that point, there were lots of across the world private capital, strategic investors, silicon valley names participating in a deal. what about all those people? now, his decision to terminate the merger agreement, and i guess the other one, twitter is rolling with this, they want to fight this. but a legal battle? this could go up to 10 years in a worst-case scenario. katie: that will keep you busy. thank you so much for your time. for more on twitter, we are going to welcome the senior equity analyst. he has a whole rating on the stock. an

suing elon musk, ed ludlow with the latest.w you have been coming through the complaint and twitter came out swinging. ed: it's interesting to see the share price reaction, because we are both hearing that it's not twitter trying to get damages or twitter trying to save face. this is twitter saying elon musk, we are holding you to the deal. emily: pay up, 44 billion. ed: you know, they are at pains in his long court document to point out they did hand over lots of information to elon musk and they tried to donate it -- demonstrate that it was elon musk who was not cooperating. he was not engaging with them, he was not for filling his obligations under the deal. emily: so instead of saying we gave him all this information, he did not even look at it? ed: there are screenshots throughout the filing, where they basically say we engage with you. we handed over data, we tried to explain it to you. remember that last week, thursday, twitter executives gave a briefing on bots. if you hours later, the washington post story comes out sa

ed ludlow is out there where elon musk is meant to be landing soon. >> the thrust is that elon musk'seam working on this deal do not believe the data twitter is providing about the level of bots on the platform is reliable according to the washington post reporting, that they stopped engaging with potential equity partners, and you look to the reaction on twitter stop down five percentage points, this does put the deal in serious doubt. >> i thought they just reiterated guidance about them. >> the timing of this is bizarre and spectacular because earlier today, twitter executives reiterated that less than 5% of users on the platform are bots. it is a mixture of public and private data twitter holds. as have been reported by multiple media outlets, they have been going above and beyond to give elon musk extra data. if that washington post report is to believed, it is going to make for an awkward situation here. >> it could last years because he cannot just back out of the deal he said he did not need do diligence on anyway. >> this is interesting. i have been speaking to folks in the m

obviously, elon musk needs to go back to the table and renegotiate. things are in a much different place. or maybe one of the sberinternst the high-priced law firm have said, you know, elon, you can actually get twitter for free in the app store. >> it's interesting, john and i were debating this morning what kind of precedent would be set by this case and i'm curious what you're looking at in terms of precedent-setting here and to me, it seems like it's not just about whether or not you can walk away from a deal, but whether or not you're allowed to disparage or not or what disparagement means >> i think elon is a very unique character here most people trying to buy a company don't -- and after signing the deal, don't run around trashing the thing they're about to own that they say could be the light of conscious ness for humanity. that is just out of character for any company. i think here, i just keep coming back to the idea that this is a pretty simple contracts case and pretty simple contracts case have the weight of precedent, the weight of histo

taylor: they have been writing about the binary options that maybe elon musk or twitter is facing.here could be a billion-dollar breakup fee. what are the options you see here? >> as a legal matter, the parties have decided to cap their damages at $1 billion. the real driver of the leverage and the key to this fight is that elon musk agreed that twitter has the right to get specific performance and force the company -- and force him to buy the company at $54.20 per share. what that really does is structure the negotiations of settlement. when we do that math here, it looks like shareholders could be affected by $15 billion. we think twitter has a 60% chance of winning. then you wind up in a category of 5-8 billion dollars but i think elon musk would have to pay if he wants to walk away. jon: let me ask this slightly differently from the vantage point of what elon musk has put on the table. there is so much focus on spam. how strong do you think his case is? >> he made his case on friday and he set out three points to suggest that twitter has breached its side of the agreement. i am

. >>> and elon musk mocks twitter on twitter taking to the platform to blame inaccurate user data for his attempt to terminate the $44 billion deal sending shares sharply lower in frankfurt. >>> good morning happy monday welcome to "street signs." let's get to the data on friday. all of the action dominated from the non-farm payrolls which came in higher. 372,000 which in a way was a bit of bad news for markets. they priced in a more aggressive fed tightening cycle we'll talk more about that on the show as far as the week is concerned, a positive week for equities not so much the case today a whole sea of red behind me all of the stoxx 600 is in the negative territory you see that behind me the basket as a whole, the index is down 1% in the early hours of trading. up 2% on the week last week. down .50% in the first hour of trading. many things on the agenda today. of course, we focus on the weak handover from chinese equities we will get to that in a moment. a tech crackdown there fears about the growth prospects and many of the eurozone economies particularly as we head to the closur

that separate titanic legal battle between twitter and elon musk.nic has hired a merger law heavyweight as it raises to sue elon musk for dropping his 44 billion dollars takeover of the company. let's bring in bloomberg's laura wright. was this expected? >> it is not a surprise. elon musk's enthusiasm for the social media platform has decreased while its credit -- while his criticism has increased. in the termination filing we saw on friday, elon musk's team attributed his reticence to a trio of issues. he feels tread -- he feels twitter's management has not been forthcoming regarding the number of accounts on the platform and they feel twitter has misrepresented's spambots. elon musk is also unhappy with a number of recent dismissals over at twitter. over the weekend, twitters share person shared that they are working under the assumption that the deal will go ahead at the agreed offer price. twitter expected to file in a delaware court today kicking off the legal proceedings. in terms of what happens now, there are a number of potential options. e

, it will be the focus of another long-time partnership with the arena, we will be talking about elon muskt's talk about the deal. apparently twitter is in serious jeopardy. twitter is saying that it intends to close the deal with with musk on agreed terms. they will continue to share information with elon musk around the box. twitter also confirming -- as previously reported by reuters. plenty more on that deal. this is bloomberg. ♪ caroline: tech giants including apple, microsoft, google are facing questions about whether they can hand over user data to authorities pursuing abortion-seekers. bloomberg pause gish dena bass wrote all about this in a fabulous piece for bloomberg. we want to dig in. what are some of the issues you are expecting to pop up? guest fish we have to remember what is different now than free pre-roe. everybody keeps everything online. there is this digital trail of breadcrumbs investigators could use if they wanted to get to someone who had an abortion or someone who helped them, which is increasingly becoming illegal. the problem is all these tech companies have li

it's not as simple as elon musk saying i will pay 1 million billion-dollar break free, thank you. twitter would have to also sign off on the and they have not. >> either musk wins and doesn't have to do anything, or he has to pay the billion-dollar breakup fee or $44 billion to take over this company. because those are extreme outcomes that seem not to be ideal for anyone involved, is there a possibility of a settlement here at the end with him or someone else buying the company at a lower price? there are two things i would say are settled. one, there is a negotiated deal where elon musk says i will pay you something more than $1 billion, which is the break fee, i don't know what that number would be. it would have to be high enough that the board could argue that it did not breach its own fiduciary duty to accept the settlement rather than pushing the case for elon musk to buy the company at $44 billion. if you take a look at where twitter is today, twitter is valued more than $10 billion less. almost 20. so, in order to say look, there's a risk of winning, of losing, whatever th

schedule now. >> singers: ♪ safelite repair, safelite replace. ♪ ♪ ♪ ♪ ♪ >> elon musk and twitter gearinge company. twitter allegedly suing the musk to make sure the deal still goes through. "they said it couldn't buy twitter, then they would not disclose were about to go, and now they want me to force me to buy it and now -- in court." this chuck norris meme declaring it truck-mate -- [laughter] i like this. i don't know why twitter doesn't tell people how many there are. imagine if fox news declared their ratings, and then half of them were robots. >> careful. [laughter] comments. >> i just want to take a moment to recognize how much they will get paid. this is what you dream about in law school. you have the richest man in the world sued by a billion-dollar company, and this could go on for years. i would frame this and put it in my office. i carried an interview with him and said while he was answering the question who is thinking about propulsion technology for his jet at the same time thinking about an algorithm for ai and thinking about a new add-on to his electric car battery. whe

begin with elon musk billing on twitter. the deal site expected to move from the boardroom to the courtroom. costco is expecting another month of strong sales. its ceo will join us exclusively. and are we talking ourselves into a recession? the biden aministration is saying yes. we are going to dig into the latest. let's start with elon musk, claiming the company has failed to provide complete information on spam accounts. in result the chairman did tweet the board is committed and plans to pursue legal actions. musk replying with meme's, laughing at the process. >> i think the delaware chancery , and david you can argue with this, but they have to protect the notion of delaware as a place for corporations. as much as musk is poking fun, i do not think the chancery is going to be a role. >> there are so many different things to discuss here. this happened late on friday. there has been a lot of opportunity for people to write about it in the last couple of days. we are going to end up in the record, probably pretty soon. we

is not going to let this go away and tesla investors have not been pleased about the commitments elon musk made. now he is tried to pull out of them. steve: tesla and elon are making great cars, i hope they stay focused on that. twitter has been a diversion and the more they can stay focused on executing -- whoever wins the electric car race is going to own a 50 year franchise. tesla is sitting pretty now but a lot of people are coming after you. we will have to be on our toes and i hope tesla is up to the task. emily: steve westly, thank you as always for your insights. coming up, after twitter wins round one against elon musk, what is coming in round two. the swarmer -- the former cfo of twitter will share his views of the saga and the recent market meltdown next. this is bloomberg. ♪ emily: october is when twitter and elon musk will face off in court. will twitter succeed in forcing elon musk to do the deal and is that good for twitter? for more insight, i want to bring in ali rowghani, former twitter cfo and coo. what is your take? twitter won round one. that potentially means they hav

elon musk backs away from the deal to buy the company into legal battle ensues. it is rampant. one is the dollar and one is the euro. you decide. good morning. dani: good morning. you definitely see energy jitters throughout the market and also concerns of covid, and on top of that, some cpi housecleaning. probably the worst cap secret in the market right now -- worst kept secret in the market right now. this is all rippling through markets this morning. mse i asia-pacific down 1.5%. tech continues to selloff, concerned not just about demand. europe, i know you will dig into the euro in a moment. for the s&p 500, it was crushed yesterday on the lowest volume of 2022. that shows you how much liquidity has been a problem beyond just stocks. asset classes in general facing that problem. we have heard microsoft worn last week that the strong dollar could hurt them. we are looking at nasdaq futures underperforming. microsoft says they trimmed less than 1% of the workforce. they say it's not because of the global angst, but an update to strategy ahead of earnings. even so, with the d

what was the final breaking point for elon musk? >> this has been a drumbeat for several months, where there ha

the real story seems to be elon musk and twitter. elon musk as we've been telegraphing on the show for some time, nixing that bid for twitter, the 44 billion-dollar deal. it is hitting twitter stock. it has been hitting tesla stock. go back to the very inabouting on all of this, think about it. i would like to go back to the initial investment. that was unknown to a lot of people until sometime later. tesla stock declined 36 1/2%. that also means that elon musk overall wealth fell about 36%. so if you look at him with spacex and all valuing you know, all of his investments at around 300 billion, that is like losing more than 100 billion in net worth. it still means you're the richest man on the planet. because other technology ceos have seen their holdings evaporate right now under the big tech selloff, he maintain as substantial lead. if you're a twitter shareholder, looking at this, you're not getting any big break now, down 32% from the first hint of an investment that the world didn't know about for sometime to come. kelly o'grad

because elon musk was already threatening to back out. if the twitter deal falls through, that lawsuit goes forward. tonight, we spoke to an attorney representing those shareholders. >> there is everyday people that are shareholders in twitter. and everyday people that are being harmed by elon musk backing away from this transaction. people have money in their retirement accounts and pension funds for instance. >> those shareholders say that elon musk deal promised them $54 per share, that is about $20 million more than what their stock is worth if he pulls out. elon musk and his attorneys claim that twitter violated its contract because it has too many bots or fake users and that impacts the company's bottom line. >>> let's take you outside and give you a live look at the capitol. hours from now, more bombshell testimony is expected coming out of the january 6th committee. lawmakers will cover the involvement of far right groups and the potential connection with the white house. the committee will also watch the recorded testimony of for

if elon musk ends up having to hold up his end of the deal and twitter wins, is that good for anyone? jason: no. it's not good for anyone. it's not good for twitter if elon ends up owning the company because he doesn't have a real plan for what he wants to do with it. he has revealed that over time. there were any number of silicon valley luminaries that lined up a hind elon owning the companies and pledged to be equity partners, whether that's entries in the horowitz or sequoia, all of those folks have been remarkably silent in terms of their belief in elon as the ultimate owner of this company because in his conversations, he showed he was not serious about what he would do it that. elon owning it is not good. a settlement is likely to equal any amount of value that equals the damage done. the real problem is there are actual employees who want to make a better product and make the company better but they just don't have the leadership that will enable them to do that. emily: let's be clear -- there are so many, including elon musk co. love twitter and love using butter. but twitter

at the heart of this for elon musk is how many fake accounts or bots there are on there. s estimated at around 5% but mr. musk believes the number is a lot higher and the metrics are is usi is not really very effective and doesn't tell the whole story. it is under that reasoning mr. musk believes he will be able to pull out of the deal. it does seem like there's going to be long, protracted legal battle because if you look at the climate right now in terms of where tech companies are, it makes sense for her to make sure mr. musk goes good on the deal. ros: let's speak to bob o'donnell joining me from foster city in california. like me, you are not short of people telling you i told you so, it felt like the story was coming. guest: indeed. almost everybody predicted this was going to happen. to make excuses that something has somehow changed other than the share price, which is the obvious thing that has changed, since announcing the deal until now and then the regret that happened as a result of that, elon musk is a person that makes decision based on emotions clearly in a

we appreciate it take care. >> thank you >>> we have a lot to do on monday much more on elon musk's attempt to now back out of the deal to buy twitter. what it means for you and investors and what musk is tweeting this morning as twitter builds its own legal team. >>> why markets are on pace to do something they have not done in at least 50 years it's truly a history making year and not in a good way. 'lte y autt en we come back. another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities. >>> welcome back to "worldwide exchange." we want to bring you the latest headlines on the europe energy crisis here are a few key things that happened in the last 48 hours. electric prices

elon musk does not get to choose.ke in a courtroom. >> if he digs in his heels, twitter will take him to court. how do you see it playing out? how potentially ugly could it get? >> i assume that elon musk has every incentive to drag it out as long as possible, because every second he is not paying money is benefit to him. he will want to make a litigation expensive and painful and embarrassing to twitter, to make twitter want to settle on something less than what he promised. this could go on for months at the very least and that is quick for litigation. delaware courts can move quickly when they need to. there could be an appeal to the delaware supreme court if the parties do not resolve matters. the question is whether a delaware court will, first of all, whether twitter can prove its case that elon musk is the one threatening to breach the deal, and whether a court will go ahead and order specific performance. >> what a mess. all right. thank you so much. >>> ahead, russia's war on ukraine is taking a devastating t

and still ahead, twitter said it is going to court to hold elon musk to the deal. >> i mean -- >> -- shocked that elon backed out. >> and there was a lot of bots. >> how could you know about the bots. >> got to know about the bots. all right. cnbc andrew ross sorkin will explain why the billionaire wants to back out. >> because it was a stupid deal that he stumbled into. >> maybe it is the wrong time of day. and it is a four-pete for novak djokovic as his opponent does his best john mcenroe impression. >> but except he wins. that was crazy stuff yesterday. crazy stuff. this guy had to run for a republican like a -- n for a n for a republican so you only pay for what you need. (emu squawks) if anyone objects to this marriage, speak now or forever hold your peace. (emu squawks) (the crowd gasps) no, kevin, no! not today. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ it wasn't me by shaggy ♪ for unauthorized ese only pay for what you need. purchases on your discover card. do you have a life insurance policy you no longer need? now you can sell your policy - even

it is escalating between elon musk and former president trump, elon musk and hunter biden, and elon muskor. congressman jason smith talks to us about it coming up on "the evening edit." ♪. i'm mark and i live in vero beach, florida. my wife and i have three children. ruthann and i like to hike. we eat healthy. we exercise. i noticed i wasn't as sharp as i used to be. my wife introduced me to prevagen and so i said "yeah, i'll try it out." i noticed that i felt sharper, i felt like i was able to respond to things quicker. and i thought, yeah, it works for me. prevagen. healthier brain. better life. ♪ well, the stock is bubbling in the pot ♪ ♪ just till they taste what we've got ♪ ♪ ow, ow ♪ ♪ with a big, fresh carrot ♪ ♪ and a whole lot of cheese ♪ ♪ and the mirror from your van is halfway down the street ♪ ♪ well, you can say that -- ♪ wait, what? i said, "someone just clipped the side view mirror right off the delivery van." when owning a small business gets real, progressive gets you right back to living the dream. now, where were we? why, you were fixin' to peel me. [ laughter ] bubbl

emily: you have some interesting analysis on the elon musk-twitter debate. think the drama in general could be good for twitter's relationship with china, which is interesting given that twitter has been blocked in china since 2010. what do you mean? isaac: musk, for someone who is such a free-speech avatar, has a massive blind spot when it comes to china and refuses to criticize the chinese communist party in a way that is especially egregious for someone who is so open and no holds barred with so many other people. it feels like employees of twitter will read between the lines and say we don't need to be so aggressive in labeling chinese accounts, we don't need to push back against this kind of information and see this as misinformation. tesla is in china, why can't twitter be in china? and make a lot of sacrifices that musk has made vis-À-vis tesla in china. emily: so you think of elon musk's does the deal as he promised and takes over twitter it could be an entrÉe for twitter back into china? isaac: i don't think it will necessarily be good for twitter's

donald trump says it's a ron contract elon musk has called it a b.s. love it. >> like i said, there's a wide range. >> he claimed elon told him personally that he had voted for him even though elon's been out there saying he hasn't voted for a republican in forever, even though now in the midterms he plans to. >> right what a world yeah i copped the voting for jimmy carter the first time. >> i know you have. >> i think of all the things we did in our youth. >>> coming u sp,tarbucks running into trouble with a new product. we'll have the details coming up next another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities. box. starbucks has i

twitter has now responded to what elon musk had to say. think saint -- where do you think things stand right now? jeff: it's a battle of two sides. twitter today basically said that mr. musk's arguments that they had not turned over enough information on spam and robot bots with the customer base was basically irrelevant, and a relevant slideshow, and he knew all along how many bots there were and this is a pretext to walk away. basically we are at the stage now where the judge is going to have to decide whether to fast-track it and go for a trial in september or february or somewhere in between. emily: in another twist, the judge who would run the hearing now has covid. so the hearing that was supposed to be in person is still going to happen but it is going to be on zoom, is that right? >> that's right, the judge sent a letter out today saying she tested positive. we are pretty familiar with this. we did zoom hearings for the better part of two years, so it will be fine. emily: so what exactly is going to happen at this hearing? what wil

and what elon musk offered 44 billion dollars before. by the way, the market kind of started to tank was what they believe to be the best deal that they could get. they still believe it's the best deal. and now they have said that they're willing to take him to court to make sure that he pays for this. >> i guess you have to pay a billion dollars if. he loses that, that the deal well out. so there's a billion dollars breakup fee, which is what the to come. you know, he and twitter agreed to when this first started and those break up these existing essentially too. >> force the marriott, if you will. but there's a issue that exists, which is that twitter really has been spending the last few months being trashed by elon musk. he's gone all over twitter at that tweeting about how terrible the company is, how awful the executives are. and now also a claiming in this letter that he sent to the sec and 2. >> it's a twitter that he believes they're lying about critical data about how many users on the platform, which, by the way could be its o

they're going to pursue this suit which they think is so strong, might they win the battle versus elon musk but lose the war for the business revival of twitter do they have to keep the business pretty much as it is as a cost of arguing that elon should buy it? >> look, it sounds like you're asking me, john, whether or not they'd be better off to settle so they can focus on fixing up the business i asked this question of some of my sources one thing i kept hearing them come back to is this idea of they do have an airtight case. if they do, they'd be crazy for the benefit of their shareholders not to pursue that $44 billion and simply because of their fiduciary duty to their shareholders, they have to go forward with the suit for the $44 billion. who knows what's going to happen now? there could be a sale and we don't know what elon musk is going to do. still plenty of unknowns i think their confidence in the case and the fact that they feel like they've done every possible thing they could do to make sure that they were following every part of the terms that elon musk had agreed to means th

twitter has scored an early win against elon musk. to make them complete his buyout, a delaware judge has agreed to fast-track the case with an october trial date. musk's legal team argued that they were pushing the trial. controlling stake in a taiwanese retail operation is being sold to enterprises. it is a value of $2 billion and is expected to close in the middle of next year. it is refocusing on the core region in europe and latin america, and is it up their first outlet in 1989. airbus and boeing are working on securing big deals from air india. they are growing more confident off of securing a landmark purchase of 51 body jets. boeing is working on a deal for as many as 100 50 of its 737 max. coming up in the next hour, as a principal global allocation shares his view on the u.s. position and next year. the plans to more than double bubble generation capacity. that is it for daybreak australia. daybreak asia is next. this is bloomberg. ♪ vo: when times get dark, we can't see the help that's all around us. let 2-1-1 be your guid

>> we do have a statement from elon musk attorney.ote twitter has failed and refused to provide this information. sometimes twitter has ignored mr. musk's request but sometimes it has rejected them for reasons that appear to be unjustified. and sometimes it has climbed to comply at will giving mr. musk incomplete or unusable information. nicole this is the weirdest tug-of-war. >> it is tit-for-tat with the world's richest man probably most eclectic man as well with the larger social media platforms. that's really what's playing out right now. we may beat making into something much bigger than it really is pretty comes down to the business details of it all. elon musk, he had been a proponent for free speech are saying it's really he was embodying up to dorsey who obviously was not a component for free speech that comment we played earlier on msnbc where he is essentially saying it elon musk takes over all the said there's going to be censorship of the political party it's like oh my gosh. your own data shows conservative voices are th

. >> we'll start with elon musk looking to back out of this deal for twitter setting up a legal fight in delaware courts he's not the only one separating himself from the social media company recently sheryl sandberg preparing to leave meta and jack-doers, of course, leaving the twitter board entirely, focusing instead on crypto and block, formerly square our julia boorstin is here it's not just the musk drama whether it's ad targeting, content monitorization, so much of the social media business is in question. >> that's right, jon, and i would say each of the social media platforms you ran through, they are in very different situations right now, but they are all in a moment of transition i mean, just to go with the smallest one first which is pinterest. they are in a movement transition of trying to figure out how to make money from commerce, and that's the big opportunity there. then, of course, meta, shifting to focus on the metaverse, managing all of these apple operating system changes that is making it harder for them to target ads which is something they have been grappling w