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Bloomberg
3 minutes ago
- Bloomberg
Auto Tariffs Stoke Layoff Angst in Canada's Once-Proud Motor City
An hour from Toronto, downtown Oshawa seems to exude the vibe of a pleasant small town. But signs of economic stress are multiplying in the place that once fashioned itself as Canada's motor city. Lines form early outside the food bank on Simcoe Street where customers load strollers with pasta and bags of bread. Homeless encampments dot the river trail. Inside local food joints like Ciao Amici, a lunch stop serving Italian specialties, conversations drift toward layoffs. On that front, there's a lot to talk about.
Fox News
3 minutes ago
- Fox News
Former CBS anchor warns Paramount merger marks 'the end' of the network and 'honest' journalism
Former CBS anchor Connie Chung warned on CNN Friday that the recent merger between Paramount Global and Skydance Media could be the "end" of journalism as she once knew it. The FCC announced it approved an $8 billion merger between the two companies on Thursday with the deal set to close on August 7. This came after several controversies involving CBS, which Paramount owns, such as a lawsuit settlement with President Donald Trump over a "60 Minutes" segment and canceling "The Late Show with Stephen Colbert." Based on the newly formed company Paramount Skydance Corp., the former "CBS Evening News" anchor suggested the network she was a part of could lose all of its independence. "I fear the end of CBS as I knew it," Chung said on "CNN News Central." "CBS was always a standalone network. It was autonomous. The news division was autonomous, and it was always unencumbered by pressures from politicians, including presidents, and unencumbered by bean counters. But now? I can see very clearly that the days that I remembered are long gone." She continued, "Honest, unbiased, fact-based journalism is being tainted and those who practiced that journalism, like Edward R. Murrow and Walter Cronkite, that kind of journalism has disappeared. I also fear that gone are the days of Frank Stanton, who was the president of CBS, who defended the rights of the journalism, the First Amendment, the fourth estate before Congress, and he represented all journalists in many ways." Chung placed more blame on Paramount's controlling shareholder Shari Redstone and Skydance Media CEO David Ellison for having "tainted journalism" with their "greed." She also called out company's pledge to not implement any new DEI initiatives as an insult to her and other women and minorities at CBS. Several journalists have accused CBS and Paramount of acquiescing to Trump ahead of the merger through its settlement and cancellations, including Chung. "I have difficulty believing what they claim, which is that the '60 Minutes' agreement had nothing to do with the merger, or a settlement had nothing to do with the merger, and also that the disappearance of Steve [sic] Colbert had nothing to do — it had only to do with financial issues. It all smells," Chung said. Paramount has been facing an intense backlash for its recent decisions, even from some of its own employees. Veteran "60 Minutes" producer Rome Hartman told Fox News Digital earlier this month that he thought the company's settlement with Trump was a "cowardly capitulation by the corporate leaders of Paramount" and a "fundamental betrayal" of CBS News. Senators Bernie Sanders, I-Vt., Elizabeth Warren, D-Mass. and Ron Wyden, D-Ore., also sent a letter to Ellison demanding answers about the Trump settlement and the Colbert cancellation, suggesting anti-bribery laws may have been broken in order for the merger to proceed with FCC approval.
New York Times
3 minutes ago
- New York Times
Rosenthal: In looking to add a top reliever at the deadline, contenders face a conundrum
Here's the conundrum for the Los Angeles Dodgers, Toronto Blue Jays and all the other contenders with at least a passing interest in adding a top reliever: Do you overpay for an elite, controllable late-inning weapon such as the Athletics' Mason Miller, Cleveland Guardians' Emmanuel Clase or Minnesota Twins' Jhoan Duran and Griffin Jax? Advertisement Or, for maybe 30 percent of the price, do you acquire the St. Louis Cardinals' Ryan Helsley as a rental? Many teams would prefer Helsley, who is not quite what he was last season when he won the Trevor Hoffman Award as the best reliever in the National League, but is still pretty darned good. Relievers are so volatile, so prone to fluctuate from season to season, even month to month, additional years of club control matter less than they do with more stable performers. The teams peddling those pitchers, of course, see it differently, valuing them as long-term assets in trade discussions and asking for big returns. The deadline is Thursday at 6 p.m. ET. And the game of chicken, particularly in the bullpen market, is on. Will the Dodgers, who placed five prospects in Keith Law's latest top 60, leverage their deep farm system for a Clase or Duran when they spent more than $100 million on their 'pen last offseason precisely to avoid making an uncomfortable trade? Will the Blue Jays take the plunge to address their most glaring need in what is shaping up to be a special season? How about the Detroit Tigers, whose bullpen ranks 28th in strikeout rate? The New York Yankees, who face the potential losses of Devin Williams and Luke Weaver in free agency? The Philadelphia Phillies, who still need help after signing free agent David Robertson? The only other potential free-agent closers known to be available are the San Diego Padres' Robert Suarez, who leads the majors in saves and is expected to decline a pair of $8 million options at the end of the season; the Atlanta Braves' Raisel Iglesias, whose results are poor even though his strikeout and walk rates are similar to what they were the past two years; and the Washington Nationals' Kyle Finnegan, who has a declining strikeout rate and 4.50 ERA. Perhaps the Los Angeles Angels will trade Kenley Jansen if owner Arte Moreno figures out his team isn't winning the World Series. And perhaps some team will jump for the Baltimore Orioles' Seranthony Domínguez, who is more of a setup type. Helsley and Suarez are probably the only short-term, difference-making closers. Predictably, teams seeking late-inning help are complaining that the prices for the long-term options are exorbitant. What else would they be with the deadline still days away? Where this all gets interesting is in the final 24 to 48 hours, when teams realize they might get shut out. The sellers prey on the buyers' panic. And even some buyers who pride themselves on discipline and efficiency turn somewhat irrational. The controllable options, at least, are plentiful. Miller is under club control for four additional seasons through arbitration. Clase is under contract for three more. Duran and Jax have two years of arbitration eligibility remaining, Pittsburgh Pirates closer David Bednar and setup man Dennis Santana one. Not all of those relievers will change teams. The perception within the industry is that the Guardians and Twins will not move one or more of their top relievers unless they win the deal. As The Athletic's Andy McCullough writes, the Guardians can be such a difficult trade partner; some other front offices refer to them as 'The Cleveland Grind Machine.' The Twins, Pirates and Rockies are not exactly known for their deal-making prowess. Advertisement That said, those clubs have every right to set high prices on their relievers, anticipating a buyer or two might turn desperate. The Phillies' Dave Dombrowski might be so inclined. Even the Dodgers' Andrew Friedman, who hates overpaying at the deadline, might need to go against his instincts. His position-player roster is the oldest in the majors. The Dodgers' bullpen, beset by injuries and underperformance, entered Sunday having allowed the seventh-highest OPS in the majors, and the highest of any contender. The return of Blake Treinen will help. Tanner Scott and Michael Kopech are expected back in August, Brusdar Graterol possibly in September. And with the return of left-hander Blake Snell looming, the Dodgers also hold the option of moving one of their current starters, most likely Dustin May, to the bullpen. All that, of course, is subject to change, and likely will change for a team that struggles to keep its pitchers healthy. The Dodgers succeeded in the past by acquiring lesser-known relievers such as Adam Kolarek, Chris Martin and Ryan Brasier during the season, then getting the most out of them. But they also were burned in some of those deals — Yordan Alvarez for Josh Fields, Oneil Cruz for Tony Watson and arguably, even Zach McKinstry for Martin. The Blue Jays are another team fully aware that with relievers, it's buyer beware. During the offseason, they signed free agent Jeff Hoffman to a three-year, $33 million contract and Yimi Garcia to a two-year, $15 million deal. Hoffman has a 4.78 ERA and has allowed 10 homers, one more than in his two previous seasons combined. Garcia has had three injuries this season, the latest being ulnar nerve symptoms in his right elbow. Even with Hoffman's inconsistency and Garcia's continuing absence, the Blue Jays own the best record in the majors. They probably need to add two relievers to maximize their chances of winning their first World Series since 1993 — an outcome that team president Mark Shapiro, in the last year of his contract, surely desires. Advertisement Just as there is risk in acquiring relievers, there also is risk in playing it too safe. The Boston Red Sox did just that at last year's deadline, and their trades for two journeymen, Luis Garcia and Lucas Sims, proved detrimental. So, if the Dodgers, Blue Jays or Tigers get too cute, that also could bite them. When a deadline trade for a reliever works, the price is almost incidental. The Chicago Cubs do not regret giving up Gleyber Torres as part of a package for Aroldis Chapman in 2016. Nor do the Texas Rangers regret giving up Cole Ragans for Chapman in 2023. Those were steep costs for a World Series title, and both times Chapman was a rental. The controllable relievers who are currently available are not as accomplished as Chapman, but one could provide the same type of impact this season and possibly beyond. It's a tempting proposition. Particularly when there are only so many quality rentals to go around. (Top photo of Jhoan Duran: Matt Krohn / Getty Images)
