kelly o'grady is live in davos. we have a host of guests coming up along with kelly.ak and operation fly formula lands in indiana but the much needed products will not be ready for another week. we're talking about the baby formula shortage. indiana governor eric holcomb is here to weigh in, he's live in davos. back in a moment. if you used shipgo this whole thing wouldn't be a thing. yeah, dad! i don't want to deal with this. oh, you brought your luggage to the airport. that's adorable. with shipgo shipping your luggage before you fly you'll never have to wait around here again. like ever. that can't be comfortable though. shipgo.com the smart, fast, easy way to travel. what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of pu

kelly o'grady with the latest. kelly? >> hey, great to see you, charles.witter. in the week following the deal announcement, daily clicks rose 263% according to glass door data. some are not thrilled with the pending takeover. musk says he will double down on software, engineering, information security and design. suggesting after slashing head count, twitter would hire in those area and reach over 11,000 employees by 2025. elon shared a new warning. he said work ethic expectations would not be more than what he demands on himself. the social platform raked in just 5.1 billion last year. he's forecasting to quintuple revenue. he faces opposition at every turn. the ftc's investigation will lead to nothing. >> the sec has no authority to block this transaction. the other administrations have been looked. i'm not an expert in their legal authorities. i'd be surprised if they have any legitimate authority to block this transaction. >> and the questions of a deal reprising and all of this opposition, you can add the russians. the kremlin saiding that they will

kelly o'grady in davos this week. break down how much each individual lost in the hot topic buzz when we come back. ♪ big game today! everybody ready? alexa, ask buick to start my enclave. starting your buick enclave. i just love our new alexa. dad, it's a buick. i love that new alexa smell. it's a buick. we need snacks for the team. alexa, take us to the nearest grocery store. getting directions. alexa will get us there in no time. it's a buick. let's be real. don't make me turn this alexa around. oh my. it's painful. the buick enclave, with available alexa built in. ask “alexa, tell me more about buick suvs.” desert mountain energy, an advanced development company with helium, hydrogen and noble wigas assets, is looking toin. capitalize on the historically high cost of helium, an element critical to healthcare, the high-tech industry and green initiatives. desert mountain energy is currently developing their project in northeastern arizona and constructing a solar-hydrogen-powered finishing facility that will make t

kelly o'grady.could be a scary moment. the eagle pass texas mayor here and only here at this. hey you two, go outside and play. ♪ ♪ create a season full of playfulness. your happiest spring starts at lowe's. ♪ ♪ ♪ ♪ introducing the all-new infiniti qx60. take on your wild world in style. ♪ i was trying to refinance my mortgage. take on your wild world in sti went to check my credit score and i found a couple of inquiries that i had not initiated. within a few weeks of working with creditrepair.com, my credit score went up about 60 points. get started at creditrepair.com >> neil: less than two weeks away from title 42 going away at the border. many are concerned. the eagle pass texas mayor here with us. what happens on that day assuming there's no extension there or no alternative plan? >> what happens -- first off, thanks for having me. we're getting prepared as a city to have thousands of people cross the border. right now what we're doing is working together with border patrol, and we have created

fox business correspondent kelly o'grady tells us why are from los angeles. hello, kelly. >> good evening, mike. now, the drama continuing today in a wild week for elon musk twitter takeover. the billionaire sending shock waives with the news that he is putting the twitter deal on ice for now this morning tweeting, quote: twitter deal on hold pending details supporting the calculation that spam and fake accounts do indeed represent less than 5% of users this announcements follows comments earlier in the week that had investors raising eyebrows. >> there are still questions that need to be resolved and so it is certainly not a done deal. i don't own twitter yet. so this is not like a thing that will definitely happen. what if i don't own twitter. >> musk following up with a tweet today that he is still quote committed acquisition. twitter under the assumption that the takeover is happening. just yesterday firing key executives and freezing hiring but investors are abandoning the stock down nearly 10% as the price drops significantly below musk 54.20 cents offer

i noticed that kelly o'grady, she can explain those weeds. kelly, what's going on here? here. the drama continues. on friday the 13th no less. elon musk sending shock waves that the twitter deal is on hold. he said twitter deal on hold supporting the calculation that fake accounts represent 5% of users. the company confirmed less than 5% was accurate but admitted it was an estimate. this has inspectors spooked. twitter closed down nearly $14 below elon's offer. that shows how much leverage musk has. if if deal falls through, twitter's stock may not recover. this could be a tack tech to renegotiation for a lower purchase price with tech stocks being down. musk followed up with the tweet saying he's committed to the acquisition. if he looking to walk, it will be difficult for him to get out of the deal without getting sued by twitter as he declined due diligence to close the deal faster. the $1 billion breakup fee could be greater. if it's services that the company misrepresented info, that gives him cause. twitter is operating under the assumption that the takeover is hap

elizabeth: great as always, kelly o'grady. gop strategist, ford owed connell. that elon musk pushing back on other news networks censoring the harvey weinstein story early on and matt lauer story. that was elon musk talking about that. what is your take on elon musk pushing back in that way? >> well he absolutely should push back on it. he considers himself a free speech absolutist, frankly the media in this country last 10 years, corporate media and social media has been biased towards one way, towards democrats. he is absolutely right. he is new sheriff in town to allow speech going forward. >> he was on brian stelter's show, this went viral, you cannot let these guys meaning elon musk control discourse in this country. quote, we're headed to hell. trump opened the gates of hell, they're chasing us down. how will we control the channels of communication in this country? he said how are we going to control that? what do you think of that? >> this is classic liberal hypocrisy and over the top hyperventilation. what this cnn media analyst is saying that elon mus

maria: a major topic the growing food shortage kelly o'grady live on the ground in davos this week, kelly morning. >> good morning, maria. well, we spoke about food security, we have been talking about that all week. i wanted to bring you an update because it's one of the most important topics in davos, massive inflation and war in europe compassion herbating a difficult situation according to the united nations global food prices have spiked one-third and the number of food insecurity has doubled since the pandemic began affecting 276 million people worldwide. european commission president ursula claiming russia, wheat prices are skyrocketing, food shipments can't get to somalia and russia is weponizing a basic human need. >> today's russia artillery is bombarding grain war houses in ukraine. on top of this russia is howarding its own food exports as form of blackmail holding back supplies to increase global prices or trading wheat in exchange for political support. this is using hunger and grain to reel power. >> the executive director of un food program echoed statements issuing severe

thanks very much, kelly o'grady. all right.and i saw the s&p number. i thought it's getting better. the dow is down 1,300. tech stocks having a very bad day. the worst day for the market since june of 2020. it adds to the concerns about the economy. more than 77% of americans say the economy is in bad shape. cnn says president biden is close to the point of no return with americans. a new poll shows that 77% number says the economy is in poor condition under the currents white house. with that, we bring in david asman. we're about 11 minutes away from the close. it's got a long way to go before it bounces back. what is going on? >> we're looking at dow jones. that's down 4%. nasdaq is down 5.5%. a lot of people, if you check your 401(k)s, apple and other stocks in there. you mentioned the poll. people's opinions matter, their sentiments matter. people stop buying things if they're not sure they can afford them. when inflation is high and we're not worried about the economy, if there's a recession, all the surplus jobs may disap

let's go to kelly o'grady live in los angeles with the latest on the twitter bot battle and he's already intumated to that 20% number on twitter himself, so this is interesting, kelly. reporter: it definitely is cheryl. the bot battle is a main stick ing point of the takeover, the billionaires questioning if the platform misrepresented the number of fake accounts and now despite musk putting the deal on ice i do want to know that twitter is moving forward and reports are surfac ing they will not re negotiate the price. now drawing down on that number is key, as users of the product, not only can bots amplify certain view points and compromise musk's free speech vision but having an accurate idea of monetizable users is crucial. elon has lost revenue alongside his big financing push and legitimate users determine the company valuation. >> we have an account that looks exactly like a human account, or is being operated where one person is operating a thousand accounts or something, but that person can only buy one toaster. they aren't going to buy a thousand toasters, so you care about num

liz: kelly o'grady, thank you very much.g the sails of more aggressive future interest rate hikes, it's now stirring up gael force winds for -- gale force winds for stocks. all right. is the u.s. jobs picture and its smooth sailing about to face a big wave indicating the fed is off course? we're bringing in top economist diane swamp, she's here next to sort things out and tell us whether the soft landing on a beautiful beach is really in the forecast. closing bell 27 minutes away, dow jones industrials -- again, as i said, this is a constantly shifting target but going south, down 1,280 points, s&p losing 4.5% or 181 points. nasdaq down 737. so when we come back, we are going to go commercial-free so we can get every tick of this very significant day in for you. ♪ ♪ meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they ha

thank you very much, kelly o'grady.tocks slammed as investors pullback, but a firm believes if the fintechs firewall because its buy now pay later model sets it apart from all the others, the ceo explains why he believes the firm can survive the federal reserve's rate tightening cycle. that's next. closing bell 29 minutes away. now the s&p is lower by 6 points , nasdaq down 110. the dow is the one area of green here because the russel is also lower dow is up 87 points. another crazy day? of course it is—you're a cio in 2022. so what's on the agenda? morning security briefing—make that two. share that link. send that contract. see what's trending. check the traffic on your network, in real time, with the next generation in global secure networking from comcast business. lunch? -sure. you've got time. onboard 37 new people, with 74 new devices. does anybody have any questions? and just as many questions. shut down a storm of ddos attacks. protect headquarters and the cloud. with all your data on the nation's largest ip ne

but kelly o'grady on how customers and you are feeling. kelly. >> reporter: hi, neil.ell, week we saw new inflation data with april's consumer price index out. the 8.3% year-over-year number was worse than expected, leading the way, shelter, new vehicles, airline tickets. let's look at where americans see this every day though. 9.4%, the largest increase for food prices in over 40 years. viewers are likely making breakfast. eggs up 22.6%, bacon up 17.7% and cough pee increasing 13.5 -- coffee increasing 13.5%. empty shelves are just as big of a challenge. energy is a pawn point. with the summer months approaching, gas is up 44% year-over-year. regular unleaded hit another record today, $445, and so did diesel at $5.57. that's important because near rhode island everything we buy travels -- nearly everything we buy travels on a truck using diesel. that pain at the pump is not reflected in the ppi numbers. we may not have reached peak inflation. now, neil, those are some of the key numbers, but what does that mean in everyday life? this week i visited a discount store in

neil: yeah i could see why, kelly o'grady thank you so much to susan li and looking at the comegabbard in technology stocks and you'd love to see this have follow-through what are folks telling you? >> well i can tell you that markets are trying to search for a bottom right now so technology on the way up, after a really brutal week as you can imagine so big tech yes, that includes apple, falling into bear market territory yesterday, so that's down 20% from those recent peaks, and apple is having one of its worst weeks in two years, losing over 10% and up until today, with a pretty strong rally, in fact apple and the rest of the may cap tech names are all down 20%-plus, amazon, tesla down 40% from those record highs, and the big five, they are pretty influential as you can imagine so some of the last to turn at least, but given that apple and the other big tech names represent around 15% to 20% of the s&p 500, that means that the s&p is now close to teeter ing into bear market, but recovering today, thanks to the recovery in technology. apple still is the largest u.s. company around. t

we'll watch it closely, kelly o'grady in los angeles thank you so much for that. take a quick peek at oil prices. one of the reasons why the dow is having a tough time getting out of the range here, continuing to advance, a a lot has to do with inflation still rampant out there across the globe but now this eu plan to eventually ban all russian oil. the caveat here though is not right away. that is the goal at least uneventually unload a lot of russian oil. we do know what in the past, what vladmir putin done with countries cutting off natural gas shipments. they were so slow-going about it, he more or less intervened in the case of poland, bulgaria i will take it away from you right now. we have the latest on all of this with lucas tomlinson. this is not a surprise decision out of the eu what would be a surprise how quickly they could take the oil off the market and that is no guaranty, is it? >> that's right, neil. the european union gets about 25% of its oil from russia and the top official making this announcement this policy will have challenges being impleme

kelly o'grady is live on the ground in davos with more. good afternoon to you. >> reporter: he yes, and good morning to you, maria. yes, of course, energy policy is one of the big themes here in davos. but there are differing opinions on how to handle that russian energy threat. some here say we need to double down on our green goals with u.s. climate envoy john kerry arguing, quote, we should not afalse narrative to be created that what happened in ukraine somehow object i have yachts -- obviates what we have going forward. i spoke with the director of the international energy agency and he argues for a more practical approach. >> the fight against climate change will be weakened in a short period of time but rightly so in some cases, even in europe. the countries are going to use coal for the winter. it's a crisis and we have to provide some solution to that. >> reporter: and much buzz here focuses on alternative fuel optionses to russian energy, nuclear energy being a big topic and the need from traditional energy producers. >> one of t

let's go to kelly o'grady right now.s why the staff calls me popeye. i apologize for that. you're talking about wine in napa and it sounded like in my intro before i was taking too much wine but i apologize for that. what's going on? reporter: [laughter] hey, neil yeah, not a bad assignment right i'm in napa valley, the cpi number came out this morning highlighting how high inflation is and the supply chain snarls are a key driver of that. it's affecting every industry, california wine is no different and you've got folks struggling to get their hands-on key packaging materials to prevent that wine from spoiling everything from barrels to bottles and most difficult of all, corks. we're here at port-a-cork, one of the largest cork harvesters and processors and struggling with a severe inventory problem with shipping times so unpredictable there's 138 million corks stranded at sea or at port. that's up from just 90 million a month ago and shipping costs are skyrocketing as well. they get their corks from portugal and it's

first to kelly o'grady. hi, kelly. >> hi, martha.tion around what motivated elon musk to initiate this twitter takeover. he's been very vocal about his open town square vision. who motivated him is even more murky. reports are surfacing that musk did not confirm or deknee that he was receiving behind the scenes encouragement from influential billionaires, investors like jack dorsey to the platform's lack of clarity since stepping down. musk was also growing extremely frustrated by key accounts and much of the conservative reaction to the bid expressing hopes of the billionaire reinstating former president donald trump. the truth social founder confirmed he will not return to twitter regardless of his ownership. the "new york post" said devin nunes claimed the former president urged musk to buy it. reports are surfacing that the article musk announced took those out of context. this comes out of the truth social backed company sits in the high 140 on the app store down52. it's unclear how musk's acquisition will impact truth social in

hold pending details and what twitter's account is less than 5% of users as twitter has said, kelly o'gradyer this with great journalism, great to have you on, what's going on now? >> we've been talking about whether the deal will go through and now the outlook is turning even more murky. shockwaves with the news of the twitter deal on hold, this morning tweeting twitter deal on hold pending details supporting the calculation fake accounts represent less than 5% of users and the company confirmed what the 5% was accurate and admitted it was an estimate. he's still committed to the acquisition and twitter ceo says he expected to close but it was enough to sound the alarms that will go through. that's what former president trump is floating today, taking news by calling donald trump twitter been a mistake but donald trump thinks musk getting cold feet saying there's no way elon musk is going to buy twitter, as such a ridiculous price especially since realizing that the company based on spam accounts. if it weren't for ridiculous they got the elon would have already been long gone. looking to

kelly o'grady in los angeles. hey, kelly.l, it is particularly tough time to be a homebuyer with prices up nearly 20% year-over-year and things may get worse. all eyes on the fed as they begin meeting today. the rate on 30-year fixed mortgage is up to 5.5% from 3.2% at the start of the year. experts think if rates rise 50 basis points more, affordability would reach a all-time high. markets are expected the fed to hike a hike of that magnitude tomorrow. this hasn't been this bad since july of 2006. 95% of the 100 largest u.s. housing markets are less affordable than the long-term level. that is up 6% from the start of the pandemic. as of april a monthly mortgage payment took a third of median income. historically, anything above 21% caused the market to cool off. reaction, consumers are turning to adjustable rate mortgages for lower rates in the earlier years. shays up 8% from 2 1/2% in december. those were quite popular back in the 2008 housing crisis. if they do have the cash, borrowers are also making higher down payments

kelly o'grady now with the details. any have focused -- have questioned if the deal would indeed go through to this point. now the outlook is turning for murky. he sent shock waves with the news the twitter deal is on hold tweeting twitter deal on hold pending details the calllation that spam accounts represent 5% of users, the company confirmed less than 5% was and musk indicated his push to rid the platform of the bots all together. it has investors spook. twitter stock is down 8% on the news. 13 belowy lon's office. he is still committed to the dealer investors are pulling their money to prevent learning more. his comments didn't help earlier this week. >> there are still some outstanding questions that need to be resolved. and it is not a done deal. i don't own twitter yet. what if i don't own twitter? >> outstanding questions are part of it. musk hasn't been able to poke under the hood and needs to insure the product he is buying can live up to the lofty target he has and any fears investors may have. with the price

kelly o'grady with the latest developments for us. kelly? reporter: great to see you, jackie. up. a group of 26 organizations including bln, the women's march urging advertisers to boycott twitter as elon musk delivers on promise to bring unfettered free speech to the platform. targeting apple and hbo, the groups argue your brand risks association with a platform amplifying hate, extremism, health misinformation and conspiracy theorists. under musk, twitter becomes a cesspool of misinformation. the groups signing letters, are left-leaning or undisclosed ngo by former clinton and obama staffers. musks can address the hypocrisy. who funds the organizations that want to control your access to information? let's investigate. the list includes everyone from foreign governments to big tech itself. access now counts european governments, germany, denmark, george soros, twitter itself amongst its donors. for context similar past efforts against platforms against meta have not proven effective. 2020 boy cot, 1000 of nine million brands publicly joined the efforts. jackie: kelly, thank

kelly o'grady has more, kelly >> great to see her, was it.ding a facebook funded advocacy group is planting pop ads to lobby washington. we've done this type of thing but this time targeting the bipartisan antitrust regulation seeks to prevent big tech from boosting their own products over rivals. american edges launched a full ad campaign commissioning like he does in this local newspapers the messaging ranging from how big tech supports middle america businesses to the role it plays in combating players like china and russia. but are arguing and american itself says it's advocating for hard-to-reach communities. quote our coalition represent small business owners, trade associations, everyday americans and yes innovative companies. the american edge project started with a seat at grant from meta. we have more than one funder and expect additional entities to contribute as we grow. the tech transparency project is solely funded by the conglomerate filings show a singular port million dollar donation from meta. their methods are not new as we

kelly o'grady with more in los angeles. kelly? reporter: great to see you, liz.to work at twitter. daily clicks on job postings rose 263% according to glass door data, even though some inside are not thrilled with the pending takeover. musk giving an indication he will double down on software engineering, information security and design. a leaked pitch, after slashing headcount twitter would hire in those areas and reach over 11,000 employees by 2025. that is up from 7500 today but elon shared a warning with current and potential staff, tweeting quote, also work expectations would be extreme but much less than i demand of myself. that is because musk will need to make good on promises to equity investors. while the social platform raked in 5.1 billion last year, he is forecasting to quintuple revenue to 26.4 billion by 2028. that is a huge jump. the billionaire is known for missing his targets. it won't be without opposition. now you can add the russians. the kremlin threatening to hold the billionaire accountable for providing starlink terminals to ukrainian mil

anything can happen, with kelly o'grady in los angeles with the very latest.'re looking at financing he got for this, number of shares he is pledging. controversy whether he dotted the is, crossed the ts on all of that. what is the latest. reporter: it is ominous music i agree. it has been one week since elon musk reached agreement on the massive twitter buyout an new insight on his motivations are coming to light. according to reports tesla ceo was receiving influence from a group of influential billionaires including, peter neil, david saks and frustration surrounding the content moderation gore gore and banning key accounts is what drove over the takeover bid. his key friendship to jack dorsey, the lack of clarity since stepping down as ceo. dorsey recently tweeting a quote a transparent system both in policy and operations is the right way to earn trust whether it is owned by a company or open protocol doesn't matter as much as deliberately deciding to be open about every decision and why it was made but to fix the company musk will contend with intense pu

kelly o'grady in long peach california, with more on that. kelly.s are soaring. delta saw its best sales on record in march. american expects business travel revenue to be 90% of pre-pandemic levels by summer but rising prices you know, could cause americans to change their travel, especially with inflation. now air fares rose 33% year-over-year according to the latest inflation data released yesterday. the number that is particularly shocking though is the month over month number. airline prices jumped 18.6% in the month of april alone. that is the highest jump we ever recorded. despite being forced to pay these higher prices travel demand is still high. airbnb revenue is up 80% over the same period in 2019. a record 100 million bookings. this particular listing is one of them. it is worth $10 million in rent for roughly 10,000 a night. biggest interest from extended family groups wanting reunion. the owner got the idea in super bowl with phone ringing off the hook. >> after super bowl is over we're still getting calls. >> they want a nice place. t

kelly o'grady fox business.t is one of nature's true wonders like tahoe 72 miles around and 1600 plus feet deep, gorgeous, but it also recently had tons of garbage removed from its icy blue water. your long effort where over £25,000 of junk trash some crazy items, all taken out of tahoe and catalog with gps. it's a first of its kind effort. learn about the harm caused by plastics and pollutants on the california nevada state line, joining us now, with some inside his column west, he's the founder and the executive director of clean up the leg. good to have you with us, colin oh, thank you so much for having me. alright well, let's dive in headfirst. were you amazed at what you pulled out of lake tahoe? and what did you find down there? you know, absolutely . it's always kind of surreal and a bit saddening to see how much litter is underneath the surface of tahoe on, you know, we pulled out over £25,000 of submerged letter from the lake and definitely some interesting items from under the surface. can you let us

kelly o'grady has been all over the story. she has more. reporter: great to see you, liz. okay it is a key resource in funding the liberal agenda but now they're using it to police free speech as well. 26 activist groups and n gos sending a letter to twitter's biggest advertisers urging them to boycott if elon musk refuses to uphold the current censorship standards. the billionaire questioned hypocrisy who is behind it all? the list, includes everyone in big business, foreign countries, election watchdogs, european governments like germany, denmark, george soros, even twitter amongst itself as donors. another is accountable tech, dark money are unclear but founder is former foreign policy spokesperson for hillary clinton's campaign. this is not a new tactic this is a new focus. we have another target now the supreme court. white house linked dark mony group, demand justice, pop-up groups organizing protests aimed at pressures those justices. if you follow the funds, dems are leveraging dark money as creatively as republicans if not more, whether policy or business. i do wa

kelly o'grady has been speaking with mergers and acquisition attorneys and experts who are in the known this. kelly? reporter: hey, liz. well, i find this fascinating because there's been a popular view he would nearly have to eat that $1 billion breakup fee and that's chump change for elon but the reality is he could face a far steeper price should he try to walk. now the issue is two-fold. the contract has a specific performance clause. twitter had the right to force musk to close and put up the committed equity. it also gives the company the right to take the tesla ceo to court, to try to get that debt financing. however, specific performance clauses are rarely enforced. instead in these large mergers a company will most often sue for damages. in this case twitter could potentially argue the stock took a hit. the second issue gets to your point around his waving due diligence. this normally takes months in an army of bankers. he accepted what public filings said about spam bots to close quickly, but experts say, sec law would still apply. >> under sec rule 10b 5, there's a duty to d

i want to go to kelly o'grady right now. the other drama is elon musk, the bid for twitter. tesla stock is dropping here. best i can figure, kelly, a lot has to do the with notion he raised he would be running twitter for a little while, maybe a few months. some might have interpreted that, beneficial for twitter as it gets closer to his offering price, maybe not so much for tesla if he takes his eye off the ball. meantime he is lining up financiers and those willing to help him so where does this stand? reporter: yeah. so i think that's a really good point about the ceo piece. there is reports that once he takes over, once the deal closes he will be the temporary ceo for a few months and i think what you see going on with the twitter stock right there, people are excited about that. the fact he has been able to raise i think 7.14 billion in equity i announced today in an sec filing, you're seeing that there's a lot of credibility and people are excited about this, that he will be able to to focus on moon at -- monetizaton as wel as larger town square of vision you hit on abo

economic crisis taking center stage at this week's world economic frurm in davos, switzerland kelly o'gradysion. listen to this. >> well, let's start with u.s., of course, that is fed starting to raise rates what are you doing how long do you think this is going to lastly. >> i would say most companies now are learning how to scenario plan on this issues because as started seeing some drivers of inflation, late last year, you know, our viewpoint viewpoint of companies is that these are temporal, shocks will go away i do think one thing that is happening is did we think -- people are more pragmatic could be a series of shocks that keep coming, that is sort of why you almost have to plan for it. >> do you think we are going to go into a recession? ive heard differing opinions throughout time here in davos the same question all your clients are asking you, what is your perspective. >> you know, i actually -- take the position i am not sure it is that relevant a question partly because we make economic cycles don't go one direction forever, a chief economist predicted ten of last five recession

kelly o'grady has the details for us now. kelly. >> hi, john.der's comments this weekend. the deal is on hold while musk investigates whether spam bots represent only 5% of the platform's users. he speculates it could be 20%, which would make the transaction more difficult to execute. twitter's c.e.o. is defending the platform's numbers, claiming the company shared the bot estimation methodology with musk a week ago. he is also dismissing elon's push to perform his own audit. "unfortunately we don't believe it could be performed externally, given the public and private information, externally it's not possible to know what accounts are counted on any given day." in addition to someone refuting the claims, how do advertisers know what they are getting for their money. it's curious, the future with agrawal's future with the company is unclear, due a $42 million payout if he's fired after musk's takeover, but a criticism of the billionaire. platform lacks transparency. it may be trying to negotiate a lower purchase price, $15 billion below the deal

kelly o'grady reporting for fox business on this. ation over musk's take over. he wants to double down on software information and security and design emphasizing he will hire managers with deep technical expertise. it won't come without slashing head count. he shares with investors his intent to shed hundreds but hire in those areas. it could have over 11,000 employees by 2025 up from 7500 today. he shared a warning with current and potential staff tweeting, work expectations would be extreme but much less than i demand of myself. and that's not surprising. musk is looking to achieve lofty goals. it raked in 5.1 billion last year he is forecasting to go to 20.4 billion by 2028. a huge jump. he is known for missing his targets. all of this musk is facing a laundry list of opposition and now you can add the russians even. the kremlin threatening to hold him accountable for employing star link terminals to the ukraine military. he said if i die under mysterious circumstances it has been nice knowing you. >> dana: that is not funny at al

kelly o'grady is live in santa rosa, hey, kelly. >> hi, jacqui. that's right.he store is $6 today, it's going to be $4 tomorrow, and what's left on saturday which is you can see is not much, is going to be $0.25. and you can feel the excitement here, right. i mean, every day is -- every tuesday is like black friday, and that's because inflation is eating at american's wallets. massive shortages of everything from fuel to baby formula, and when you can't find the items you are looking for they are more expensive than last year. waiting on now numbers tomorrow but march sees record increases for necessity. here the merch is brand-new and comes as overstock from retailer warehouses like amazon and target. bigger ticket items go to online auction, but everything from pet food to shoes. and there was even baby formula available, probably not now, but it's worth waiting in line for that. the owner here says something for everyone no matter what the budget is. >> tuesday when everything, the store is packed and everything is new, a line of 2, 300 people and the end of

kelly o'grady joins us now. what is going on, kelly? reporter: hey, good to see you, david.ith elon. many current employees are expressing frugs strays at the takeover but those outside may be lining up to get in. the days following announcement, daily clicks on job posts rose 263% according to grass door data. he will look to double down on software engineering, security and design. after slashing headcount twitter woe hire in those areas and reach over 11,000 employees by 2025. that is up from 7500 today. elon shared a warning with current and potential staff, quote, work expectation was be extreme but much less than i demand of myself. that is because musk will need to make good on promise of equity investors. the platform raked in 5.1 billion last year, he is forecasting to quintuple revenue to 26.4 billion by 2028. that is a huge jump. the billionaire is known for missing his targets. one piece of good news, experts suggest that the fcc investigation will lead to nothing. >> the fcc has absolutely no authority to stop this transaction. doj, ftc is called to take a look

kelly o'grady is live in los angeles with the latest. lly. >> that's a big deal amongst all this push back as it gives credibility to his ideas and physician -- larry ellison coming in with a billion dollars and private equity firms buying in. sources tell me musk made a compelling case for kostunicaing. the review while routine could provide a wrinkle as open markets institute, former employee of the sec chair criticizes the bid claiming the deal poses a number of immediate and direct threats to american democracy and free speech. now antitrust experts pushing back on the charge argue the law doesn't address free speech but competition. musk's portfolio does that have a threat. >> he is not a competitor with twitter. he is not a supplier to twitter. >> the last year has seen unprecedented investigations by the quest to bring social dynamics. broadening the scope of security knee. the growing uncertainty could impact the musk dealer. he plans to become temporary ceo of twitter they are concerned of split focus. how much fallout will musk

anyway, want to go right now to kelly o'grady all the way in davos. sausage and peppers there, probably not. that doesn't seem like a daf the vos thing. but apparently there's an energy thing and a worry going on there that it's going to spill over, they fear i guess, right? that it's going to spill over to the rest of the world for quite some time. kelly is in davos with more. hey, kelly. >> reporter: hi, neil. yeah, the energy crisis was, of course, a big topic here in davos, but there are differing approaches on how to best handle the russian energy threat. some here, including john kerry, think that we need to double down on our between goals. take a listen. >> the world's greatest transformation ever as we move to a new energy economy. we need to move. we need to accelerate. we need to do more. now ukraine is being used as a lever to make the argument that, oh, wow, see? you've got to have this energy security. >> reporter: but with energy inflation up more than 40% year-over-year in the u.s. and russia ravaging ukraine, other industry experts em

kelly o'grady is live in los angeles. >> what this all means is a legal battle may be brewing that couldm. musk calling on the sec to investigate the number of real users under the act situation twitter misstated their filings. a popular view he would have to eat the fee if he walks. the contract has a specific performance clause which allows twitter to enforce the agreement. more likely to result in suing for damages. twitter will argue that tesla ceo waived his right to due diligence because he wanted to close quickly. if he is right about the bots. >> there is a duty to disclose if the twitter board were to know, management knows and not disclosing, there is potential fraud. in that, if it were to come up, waiver of due diligence does not waive his flight relation to what might have been misstated publicly. >> if musk is able to prove the platform's numbers is wrong and there is external evidence that may be true. there is claiming almost half of president biden's followers are fake and elon blaming the administration for inflation and accusing biden of not getting things done. the wh

kelly o'grady has the details. >> the drama continues. friday 13th no less. elon musk sending shock waves the twitter deal on hold pending details supporting the calculation that spam fake accounts represent less than 5% of users. the company had confirmed less than 5% was but twitter stock is plummeting in pre-market trading as much as 11% on the news roughly $15 below the share purchase price, which is 30% below the value of elon's $44 billion deal. a couple of things to highlight. it is part of a routine evaluation once a hostile takeover deal is extended. there is a thorough review. up to this point musk hasn't been able to look under the hood. a couple things the billionaire could be managing. he is raising equity and investors will have a lot of questions about the metrics prompting musk to dig further. with the price plummeting it is clear he holds the power. if the deal falls through twitter may not recover. he could use it to renegotiate a lower price. musk says he is still committed to the acquisition and yesterday the company announced they are lay

kelly o'grady has that for us. >> hi, sandra, about dark money.ir own agenda and playing out how groups are targeting the supreme court. white house linked dark money group demand justice pushing to expand the court and a number of groups like ruth sent us and for choice, aim at the pending decision and you find yourself down a rabbit hole hopping from organization to organization, some dark money experts say the source is the george soros' backed arabella advisors. an they can produce little pop-up entities that are based on the issues of today. so, whether or not, if today we are dealing with the supreme court draft leak, in a week we might be dealing with something else. >> it's not a new tactic, just a new focus. hundreds of millions were raised in 2020, majority donated by dems, and now coming for free speech as well, and urging twitter to boycott if elon musk will not have the censorship standards, questioning who is behind it and and he tweeted interesting. i wonder if those sending organizations are fully aware of what they are doing. if y

kelly o'grady live in los angeles with the details on this . there are two prevailing narratives at circulating right now. in one muscat says the deal is on hold but twitter is telling shareholders the transaction is likely to close at $54.20 per share. the platform violin a statement ahead of the shareholder vote. at implies things are full stea ahead. that's in stark contrast to wha muscat saying saying. engaging in a tweet wear. over the latter's refusal to di in percentage of bots on the platform. the billionaire tweeting that this deal could not move forwar unless the company can prove that their public filings are accurate. must walk or is a state theatrical ploy to renegotiate the price. he left the door open for that possibility. >> in making the twitter offer was reliant upon the truth and accuracy of the public filing said those filings are not accurate it simply not the best you can't pay the same price. if so at a different price it might be totally viable deal. >> it's not out of the question. >> and with twitter shares training ro

kelly o'grady has the details for us. >> the consensus for now is the deal will likely go through buturchase price with twitter trading well under $40. one of the issues with twitter their algorithms should be made public and he reiterated that warning users you are being manipulated by the algorithm in ways you don't realize and how to set your timeline to be chronologically driven. it is only showing you what it thinks you want to see. the big question is whether the investigation could kill the deal. musk doesn't believe the platform has less than 5% of spam accounts. he says it could be as much as 90% of users, a lot more difficult to exercise the deal. twitter isn't happy with the billionaire's latest tweet. he shared twitter legal called to complain i violated their nda by revealing the sample size is 100. this actually happened. this acquisition is garnering doubt. one is former president trump. musk breaking news saying he would reinstate his account and trump weighed in about the latest twitter developments. >> i believe he is going to buy twitter. you have so many fake accou

fox business's kelly o'grady is live in long beach, california to explain. >> hi, julie.ngs are soaring now. delta had its best sales on record in march and american airlines expect business travel to be at 90% of pre-pandemic levels by summer but americans are bracing for price increases and inflation could impact how people travel. airfare is up 33% year-over-year. but the number that's shocking is the number month over month. what you said earlier. airline prices jumped 18.6% in april alone. the highest jump we've ever recorded and has some industry leaders skittish. >> we have a concern. if we look at the sectors of our business, certainly the restaurant, hotel divisions, retail divisions we have the ability to raise prices. we are hopeful we can navigate through the challenging times but i think the emotion i can challenges that are in front of us are real. >> it hasn't hit yet despite being forced to pay higher prices travel demand is high. air b and b's revenue is up 80% and 100 million bookings. this particular listing is one of them worth roughly $10 million. wen

ahead of that though, kelly o'grady at davos event in switzerland on how this is effecting and the marketssion, global slowdown, you name it a big topic there. kelly? reporter: good to see you, neil. the question i ask everyone here is are we going into a recession the response has been a mixed bag, but i think the ceo of citi said it best here, the three r's everyone is worried about are russia, recession, and rates. that is certainly a concern of chief economist a new survey revealing 96% expect high or very high inflation for the remainder of 2022 for the united states and 92% for europe, and while some warn a recession is imminent the imf managing director arguing it is not yet likely for major economies, but it is moreso for low income countries. further exacerbating the divide and making them more vulnerable to geopolitical dynamics, but amidst this debate the intersection of security in the economy continues to be the prevailing theme in davos. earlier today, the secretary general of nato addressing the forum, emphasizing that freedom is more important than trade, that the war in u

kelly o'grady joins me. all this news is hurting the stocks price.has been below 40 bucks. reporter: yeah, his offer is $54.20. that is quite below that. david, this weekend the algorithm was front and center. one of his biggest issue with twitter it should be made public. musk warned users in a tweet, quote you are being manipulated by the algorithm in ways you don't realize. he said how to set your timeline to be chronologically driven. the algorithm only shows you what it thinks you want to see. that will reinforce biases. the bigger investigation whether the bots investigation will kill the deal. musk doesn't believe the platform has 5% less. he says it could be 90% of monetizable users that would make the revenue target extremely difficult to execute. twitter is not happy with the billionaire's latest tweets. musk, twitter legal called to complain i violated their nda revealing the bot sample size is actually 100. this actually happened. the deal will go through but musk may be attempting to renegotiate a lower purchase price as you pointed out

kelly o'grady is live in los angeles with more. how are we not surprised? >> great question, right?e's facing yet another challenge to the takeover with this. reportedly reviewing the $44 billion deal and will decide next month whether to do an in-depth probe. the review is routine, comes as antitrust law criticizes the bid claiming "the deal poses a number of immediate and direct threats to american democracy and free speech." ohio congressman jim jordan condemning the statement. and antitrust experts are pushing back on the charge arguing the law instead focusses on competition, not free speech. so the portfolio does not pose a threat how the body has historically operated. >> over the last two decades under any administration and based, again, based on the free press, i don't see a competitive problem. >> this last year has seen traditionally uncontroversial mergers subjected to f.t.c. investigations. driven by the redefining, and factoring in social dynamics like equity and digital age challenges like data privacy, and experts worry the growing uncertainty could complicate the m

kelly o'grady joining me now with the back and forth on this.ot some good points here. they're not proving it yet, have they? reporter: no, they haven't. this really depends on who you ask if this deal is indeed even going through. elon musk says it is on hold. but twitter this morning telling shareholders in a proxy filing the transaction is likely to close at $54.20 a share in stark contrast what musk was saying. he was engaging yesterday in a tweet war with ceo. pa rag agrawal. it is unreasonable that human accounts represented over95%. the billionaire tweeting this morning the deal cannot move forward unless the company can prove their public filings are accurate. at the podcast yesterday he shared why that is so important to the company's financial health. >> something doesn't add up here and my concern is not that is it like, is it five or seven or 8%, but is it potentially 80% or 90% bots. brand advertising, awareness advertisings, it ma thers whether humans see that or not. reporter: investor disagree with shares losing all gains with mu

really get scrutinized because after all, his dough, his money, no doubts but apparently big doubts kelly o'gradyow on the sniffing around that big purchase and the guy whose making it. what's going on here? reporter: hey, neil, yeah, so listen, elon musk is facing yet another challenge to his take over. the ftc reportedly viewing the $44 billion deal to decide next month whether to do an in depth probe, if it does it could delay closing by months. while the review is routine it comes as anti-trust law defender open markets institute, a former employer of the ftc chair might add criticizes the bid claiming "the deal poses a number of immediate and direct threats to american democracy and free speech." now anti-trust experts pushing back on that arguing the law instead focuses on competition and this isn't a scenario of one pharmaceutical company taking over another, so musk's portfolio of tesla, spacex and star link does not pose a threat >> it's not a competitor competing platform, competing with twitter, he's not a supplier to twitter. reporter: but this last year has seen traditionally un cont

kelly o'grady is that a company called port of cork in napa, california. there is a cork shortage.t challenges they are facing is shipping, supply chain snarls are hitting every industry. born you wine business is no different, folks are having trouble getting their hands on bottles, labels and quarks. this is one of the world's largest cork harvesters and processors of quarks and they are struggling with that severe inventory problem, shipping times are so untreatable, they have all those quarks branded at the port. some have support for a month buried in a massive container where trucking is not available and shipping costs skyrocketing. they get their quarks from portugal and shipped into oakland. that used to cost $2,500 a container. today $14,000 a container with little explanation as to why. we spoke to the ceo and despite labor shortages and inflation, shipping he's dealing with the most. >> biggest challenge we are faced with is the shifting line, tremendous pressure, telling customers we can't deliver for another month or several weeks so that is put from it is hit, the su

kelly o'grady is here with the story and kelly, some companies have been largest donors to the campaignsers. >> according to open secret, alphabet, amazon, meta and microsoft were five of the top 10 contributors to president biden's candidate committee giving more than $10 million in total, but it's not just president biden, take a look at the 2020 midterm spending. heavy spending for democratic campaign some exclusion --ly and history repeating itself when you take a look at the current midterm cycle. much of the same you see there. i wouldn't be surprised if they are suffering from a little buyers remorse given how much the big tech stocks are down this year. but this is the economy they put their money behind. over the last 5 days the stocks combined have lost half a trillion in value. some pandemic darlings and concerns over missing earnings, rising interest rates and recession, investors are pulling money from growth stocks, meta down over 40% just this year. amazon down roughly 34% and the list goes on. this comes on reports also that meta is expected to announce layoffs to metaver