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
Billionaire hedge fund manager David Tepper has taken his frustration with Whirlpool public after the appliance maker moved to raise fresh equity, a step that dilutes existing shareholders. Tepper’s Appaloosa disclosed a near 10% Whirlpool stake last fall, but more recent filings show that position is smaller, highlighting how quickly the trade has shifted from
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
Kalshi is moving into the sports insurance sector through a partnership with specialist broker Game Point Capital, signalling a shift in how insurers hedge financial exposure tied to sports performance. The regulated prediction market exchange is positioning itself within a fast-growing industry valued at around $9 billion annually and expected to double by 2030. The
Gold prices rose more than 1% on Wednesday as a weaker dollar and falling bond yields boosted sentiment. Gold prices climbed back over $5,100 per ounce, while silver rose more than 4% as investors digested key employment data from the US. Meanwhile, oil prices also jumped more than 2%, with Brent hitting $70 per barrel
Gold and silver prices were in the red on Tuesday as investors remained on the edge before the release of a string of key US economic data. Over the past week, precious metals have experienced significant volatility, as prices retreated from all-time highs due to a combination of profit-taking and excessively bullish positioning. Meanwhile, oil