Pink's Bottom Line on Media, Money and Sports

Twitter and Russian state-owned media, gas prices and global soccer reaction to the Russian invasion of Ukraine

In today’s newsletter, I discuss Twitter and Russian state-owned media, gas prices and global soccer reaction to the Russian invasion of Ukraine.

MEDIA: Twitter and Russian State-Owned Media

Yoel Roth, Twitter’s Head of Site Integrity, today tweeted that the social media company will label Tweets that link to content from Russian state-owned media.

Roth tweeted that the company is taking this measure “to significantly reduce the circulation of this content on Twitter.”

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It is just the latest action by big tech in the past few days to limit the spread of content from Russian state-owned media.

These kinds of actions also underscore the power of social media companies, and the outsized influence these platforms have on setting the global narrative for major world events like Russia’s invasion of Ukraine.

MONEY: Gas Prices

Gas prices in the United States soared yet again last week, as oil prices surged following Russia’s invasion of Ukraine.

According to AAA, the average price of a gallon of unleaded regular gasoline in this country now stands at $3.61, up about eight cents from a week earlier.

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For some context, a gallon of regular gas cost $3.35 a month ago, and cost $2.71 the same week one year ago.

The oil markets will remain under pressure as the Russian invasion continues, which means that US consumers will face higher prices at the gas pump for the foreseeable future.

SPORTS: Global Soccer Reaction to Russian Invasion

FIFA, the governing body of international soccer, today said that it will ban Russian teams from playing in international competition.

That ban means that Russia’s national team won’t be eligible to qualify to play in the World Cup later this year in Qatar.

Pink's Bottom Line

Additionally, UEFA, the European governing body of soccer, said that, effective immediately, it will end its partnership with Gazprom, a large Russian oil company.

These moves by FIFA and UEFA indicate solidarity among the world’s sports governing bodies in response to Russia’s invasion of Ukraine.

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Jeremy Pink is the former CEO of private-equity backed Broadcast Sports International where he helped lead the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore. He is currently CEO of Essay Group.

The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.

(Newsletter Editor: Karina Pink)