Paramount Skydance has prevailed in the high-stakes takeover battle for Warner Bros. Discovery after Netflix declined to match the David Ellison-led group’s improved offer, reshaping the competitive landscape of the global media and streaming industry. Warner’s board determined that Paramount’s $31-per-share all-cash proposal for the entire company was superior to Netflix’s earlier agreement to purchase
Warner Bros. Discovery reported lower revenue and a wider-than-expected loss in its latest quarter, as pressure across its traditional television businesses overshadowed continued growth in streaming. The results come as the media group remains at the centre of a high-stakes takeover contest involving Netflix and Paramount Skydance. The company posted a fourth-quarter net loss of
US equities advanced on Wednesday, supported by strength in major technology names, as investors looked to extend gains from the previous session. The Dow Jones Industrial Average rose 224 points, or 0.5%. The S&P 500 gained 0.5%, while the Nasdaq Composite added about 0.7%, reflecting broad-based buying across growth-oriented sectors. Market sentiment was underpinned by
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said growing competitive pressures across finance are beginning to resemble conditions that preceded the 2008 financial crisis, raising concerns about risk-taking in lending markets. Speaking to investors during a company update, Dimon said some lenders appear to be loosening standards in pursuit of profit growth, particularly
Millions of people on GLP-1 weight-loss drugs know the weekly routine by heart: a new injector pen, a new box, another reminder to refill, and one more item for the sharps bin. Eli Lilly is trying to make that routine feel less like a chore. The company says it has launched a new Zepbound KwikPen
The most noteworthy cryptocurrency developments in the region this week came from Argentina, Brazil, and El Salvador. El Salvador is planning a $100 million tokenised investment program for local SMEs, Brazil is considering a bill to eliminate crypto taxes and establish a strategic Bitcoin reserve, and Argentina’s fintech industry suffered a blow when lawmakers revoked
Progress around key crypto legislations in the US remains stuck in limbo, effectively capping price action as institutional capital remains on the sidelines. After a year of blistering gains that saw Bitcoin soar from under $70,000 to an all-time high of $126,000 in October, the flagship crypto has crashed to multi-month lows. Bitcoin’s rally last
Washington moved to wind down a controversial immigration surge in Minnesota as federal agents began pulling back after weeks of backlash. Markets, meanwhile, remain tense: Bitcoin is stuck near $65,000 as traders debate whether another leg lower lies ahead. In corporate news, SoftBank-backed PayPay has filed for a blockbuster US IPO, while AI heavyweight Anthropic
Global markets and corporate developments offered a mixed picture on Wednesday as investors balanced resilient Asian equities against political tensions in Washington and mounting corporate upheaval across technology and media sectors. A rally in Asia came despite soft US consumer data and artificial-intelligence concerns on Wall Street, while Elon Musk’s artificial-intelligence startup lost key founders,
Bitcoin, Ether, and XRP are all in the red as the broader cryptocurrency market shed billions in market cap over the last 24 hours. The bearish performance has spread to other leading cryptocurrencies, with Stellar (XLM) down by nearly 2%. XLM is trading below $0.1600 at the time of writing on Wednesday, extending its correction