The Elon Musk News fire hose continues. We have more about the access to sensitive IRS data that Musk's cost-cutting team is looking for, and the resignation of senior Social Security officials over similar issues.
And in case you missed it, there were two obvious long readings about the internal battles of the Murdoch family: One in Times Magazine Based on more than 3,000 pages of secret court transcripts, Another atlantic It included direct details from James Murdoch. Finally, there is a great weekend watch: Homage to Adam Sandler Saturday Night Live to Lorne Michaels The person we introduced Last year, the show's 50th anniversary special was held.
Who can access it?
Elon Musk's cost-cutting team continues to dig up federal officials for what the tech mogul says is trillions of potential cost-cutting.
However, the organization's latest achievements, including the potential gains of access to sensitive IRS and Social Security Management Data, have more to do with how much power masks have accumulated and what the outcome is. raised concerns.
latest: The IRS is preparing Gavin Kliger, a young software engineer who works with the so-called government's Ministry of Efficiency, to provide access to sensitive taxpayer information as a senior adviser to the IRS' representative. The IRS is still formulating the terms for his allocation, but on Sunday evening he still had no access to the data.
Separately, Michelle King, the top Social Security officer, has resigned after Musk's team asked for access to an internal database containing personal information about Americans.
Critics were worried that such a move would give extraordinary surveillance to Operation Musk. Lily Bachelder, a Biden administration's Treasury official, wrote to X that he could not recall the political appointees who accessed the IRS database.
The big concern is whether it could lead to potential punishment for political enemies and potential leaks of data for civilians. Batchelder wrote that such moves could violate federal laws that prohibit administrative agencies from obstructing taxpayer audits, but Oregon's Democratic Sen. Ron Wyden and Massachusetts' Elizabeth Warren requested more information about the access granted.
The problem of accessing IRS data has been accrued at musk angles in recent years. The 2014-2018 billionaire returns were leaked to Propublica by an IRS consultant.
The White House remains by Musk's side. “Wash, fraud and abuse have long been deeply entrenched in broken systems,” White House spokesman Harrison Fields said in a statement. “To identify and fix it, you can access the system directly.”
However, it remains unclear why cost-cutting initiatives need to access this information. (White House officials don't give the Wall Street Journal a reason.) Critics are worried that Musk's team is working with false assumptions and online misinformation.
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Related news does not say who is in charge of the cost-cutting team, except that it is not technically musk. And the advocacy group's common cause said the Washington Post had scrapped the ad that encouraged Trump to fire musks.
This is what's going on
The New York governor is questioning the future of Mayor Eric Adams after another departure. Gov. Kathy Hochul said four New York City officials will step down following the Justice Department's move to drop on the mayor in an apparent exchange seeking help in deportation, and said, “The Path.” A meeting will be convened on Tuesday to discuss the Forward. . Hochul has the power to eliminate Adams, but it is unclear how the Trump administration will respond if she does.
Openai is reportedly weighing measurements to maintain control. The creators of ChatGpt may adopt corporate governance measures, including special voting rights for nonprofit boards, the Financial Times reports. Such provisions likely include strong Openai investors' remarks, including Microsoft and SoftBank, to block hostile bids like Elon Musk created.
Chipmakers are said to be considering deals that could potentially disband Intel. According to the Wall Street Journal, TSMC and Broadcom have not been submitted to Intel, but have not yet been proposed. The idea is to remake Intel as a chip design or manufacturing expert, but not both.
Tesla reportedly faces a major obstacle to its self-driving ambitions. Musk's electric car maker is delaying its operation of “fully autonomous” technology, delaying obtaining permission from China. The potential delay has vowed President Trump to increase the trade war with Beijing and worsen already tense economic ties.
Argentine President Javier Mairei faces the call for each of his code bonds. Opposition leaders and others cried out a foul over their support of $libra on Friday. Milei deleted his original post and called for an investigation, but opponents said the scandal placed the ability to question his abilities.
Bystander Europe
High-ranking American and Russian officials met in Riyadh, Saudi Arabia on Tuesday for a high stakes meeting. On the agenda: End the battles in Ukraine, Europe's most deadly generational war.
do not have There are representatives from Europe and Ukraine, but their absence raises doubts about the rifts of the Western Alliance.
latest: The State Department is discussing it as exploratory. However, Russia held a meeting as an opportunity to break Moscow's isolation and restructure business ties with the West.
Kiril Dmitriev, head of the Russian sovereign wealth fund in Riyadh, returned to the country with the invitation of the American oil giant. He hangs “access to Russia's natural resources” and is likely trying to appeal to President Trump's attachment to “liquid gold.”
Investors often look at it. European defence stocks spiked on Monday. This is because Trump's threat to reduce US military support for the Americas and NATO, and he raised the prospects for an increase in military spending. It helped push the Pan-European Stoxx 600 to the record. The Stoxx Europe Total Market Aerospace & Defense Index has grown by 19% this year.
“I think there's just a little more to go here,” said Sharon Bell, a stock strategist at Goldman Sachs.
Surge believes in the permeation of European darkness. Even before they were locked out of Ukrainian negotiations, Europe felt increasingly on the sidelines. Vice President JD Vance surprised attendees at the Munich Security Conference last week, targeting European allies. (He had little to say about Trump's vision for Ukraine's story.)
In WhatsApp Message Group, email chains, opinion articles, experts and commentators question the future of US-European relations. Their great fear is that Russian President Vladimir Putin has the upper hand in Ukraine talks. It puts Europe at risk, especially when Trump is trying to secure a blow-up of mineral resources.
Europe was already brave because of the Bruise Trump trade war. The tariffs are considered to keep the area a rut of low growth. They were also able to drive wedges among EU members, such as when America plays ideological allies and favorites.
“I think Trump's strategy is to break up Europe,” Penati said. “He's already very successful in doing that.”
Delaware legislators take the court
Delaware has long been the capital of the United States. However, the growing frustration among businesses over recent judicial decisions has led to a threat to leave and risk incomes that incorporate key businesses in First State.
Now, Delaware lawmakers have brought a response to the threat. And it elicited mixed reactions from the business world and observers, reports Lauren Hirsch of Dealbook.
what's happening: A group of Delaware Senators proposed a bill that would reshape the business that would be required by managers who can afford the companies that control shareholders. It would effectively override long-standing case law by the Delaware Chance courts, including divisive things like last year's decision to reject Tesla's Elon Musk's big compensation package.
Typically, selected members of the Delaware Bird Draft will be changed to a corporate code approved by lawmakers. But lawmakers who at least appear to be out of public consultation with these practitioners were quick to address “specific concerns lawmakers have been receiving since the gusts of their relocation in late January” on Monday. He said he moved to.
They added that the law is open to reviews, comments and recommendations.
The bill relaxes standards for scrutinizing transactions with shareholder controls. It proposes narrowly defining who is the controlling shareholder and loosening the requirements for transactions in which such investors are involved. (If the measure is retroactive, according to Yale Law School professor Jonathan Macy, the mask could help him in his fight for compensation.)
The law also limits the types of internal communications shareholders can request in litigation. Formal documents containing minutes of the Board of Directors' meeting are permitted. Email and other internal communications probably aren't.
You could place a damper in a shareholder lawsuit. It may be rushing to reconfigure elsewhere, but it will likely limit the number of cases brought to Delaware courts.
“There's an excess in shareholder litigation, but if the board needs to do less and get more protection from scrutiny, that's not good for regular shareholders,” says Boston College Law School professor. Brian Quinn told the dealbook. “It's a huge concession for public shareholders to set back and take control of shareholders.”
It raises questions about the power of American businesses. Did Delaware lawmakers override case law in favor of business interests? Or did they try to correct the overactivity court?
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At one camp: “This is the corporate manager. He says, 'I don't need your laws, and I'm not bound by it,'” Tulane University Law School, blogging about the move. Ann Lipton told DealBook.
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On the other hand, “I think this is back to the traditional respect of Delaware due to shareholder advantage,” Macy said.
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