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Bloomberg is launching a 24/7 news channel... on Twitter

Richard Drew / AP

Bloomberg LP is launching a 24/7 news live-streaming news service on Twitter, The Wall Street Journal reports. The channel, yet to be named, is set to launch this fall. According to Bloomberg Media CEO Justin Smith, it will be focused on "the most important news for an intelligent audience around the globe."

What to expect: A mix of global live news reporting from Bloomberg and a "curated and verified mix" of video posted by users on Twitter.

Why this is different: A lot of news channels have 24/7 streaming, but the content is typically distributed on their own apps, and can be accessed by a user by signing into their account with their TV service provider. Twitter is free. Users won't need to buy a cable package to access this news channel.

What's in it for Twitter? A 24/7 live-streaming partner to drive video ad revenue. Twitter has been trying to beef up its live-streaming business, especially given the impact of live-streaming on its video ad revenue last quarter, but the company has failed to land a major contract. Most notably, its major NFL Thursday night live-streaming deal was handed to Amazon for the 2018 season.

What's in it for Bloomberg? A chance to broaden its reach. Smith says the Twitter channel will have a broader focus than Bloomberg's existing TV network, which focuses primarily on financial news. It also gives Bloomberg and opportunity to optimize its second-screen TV audience, by serving users Bloomberg content when they are flipping through their phones while watching TV or during commercials.

Steve LeVine 5 hours ago
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Self-driving lab head urges freeze after "nightmare" fatality

Uber self-driving car in Pittsburgh. Photo: Jeff Swensen / Getty

Carmakers and technology companies should freeze their race to field autonomous vehicles because "clearly the technology is not where it needs to be," said Raj Rajkumar, head of Carnegie Mellon University's leading self-driving laboratory.

What he said: Speaking a few hours after a self-driven vehicle ran over and killed a pedestrian in Arizona, Rajkumar said, "This isn't like a bug with your phone. People can get killed. Companies need to take a deep breath. The technology is not there yet. We need to keep people in the loop."

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Trump, Sessions & GOP lawmakers to meet about sanctuary cities

Jeff Sessions claps behind Donald Trump's blurry profile at a speech
Attorney General Jeff Sesssions, Donald Trump, Melania Trump. Photo: Mandel Ngan / Getty

The White House is hosting a roundtable on sanctuary cities Tuesday afternoon with the President, Attorney General Jeff Sessions, Secretary Kirstjen Nielsen of the Department of Homeland Security, Republican lawmakers and others, Axios has learned.

Why it matters: Conservatives tried to use this week’s massive government spending bill to cut federal funds from sanctuary cities, but they failed, according to sources involved in the process. But Trump officials want to use Tuesday’s event to highlight the issue and put pressure on cities that don't comply with federal immigration law enforcement.