The much-anticipated merger between Paramount Global and Skydance has come to a screeching halt as National Amusements, owned by Shari Redstone, has decided to stop talks with Skydance regarding the proposed deal. The news, reported by CNBC’s David Faber, sent shockwaves through the industry as stakeholders awaited the outcome. The merger, which was on the
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The United Auto Workers President, Shawn Fain, is currently under investigation by a federal court-appointed watchdog, Neil Barofsky. The investigation is focused on whether Fain has abused his power as the union president. Additionally, accusations have been made against union leaders, including Fain, for obstructing the investigation and interfering with the watchdog’s access to information.
The Covid-19 pandemic exposed both vulnerabilities and resilience within the American economy, particularly in the child care sector. As daycares closed and schools shifted to remote learning, parents struggled to balance work and caring for their children. While employment in the child care industry has returned to pre-pandemic levels, there is still a shortage of
The recent bankruptcy of Synapse, a fintech middleman, has revealed an $85 million shortfall between what partner banks are holding and what depositors are owed. This has caused a significant disruption in the fintech sector, with over 100,000 customers being locked out of their savings accounts. The missing funds have raised questions about the operational
Rivian Automotive recently announced significant changes to its all-electric R1 pickup and SUV models, set to be released in 2025. The company has made improvements in various aspects including range, performance, and computing power, with the assistance of Nvidia chips. The CEO, RJ Scaringe, emphasized the evolution of their flagship R1 vehicles, boasting about the
Walmart, the nation’s largest private employer, has recently announced that it will be offering new training programs and certifications to fill high-demand roles across its business. This includes positions such as HVAC technicians, opticians, and software engineers. The retail giant is making this move in an effort to retain market share gains, particularly in the
In a recent announcement, Warner Bros. Discovery’s Max revealed that it will be increasing the prices of its ad-free options. This decision comes amidst a trend where various streaming services are raising the cost of their memberships. The timing of this price increase is significant, given that it is just 12 days before the highly
Recently, Paramount and Skydance have reached an agreement on the terms of a merger, with CNBC’s David Faber reporting that a deal could be announced in the near future. This merger involves a special committee from Paramount and a buying consortium led by David Ellison’s Skydance, supported by private equity firms RedBird Capital and KKR.
When Adam Moelis co-founded a fintech startup named Yotta in 2019, he had noble intentions of providing Americans with a new way to save money and build financial security. However, his vision quickly turned into a nightmare as the company became embroiled in a crisis that left thousands of customers in dire straits. The ordeal
The recent approval by the Food and Drug Administration of Moderna’s vaccine for respiratory syncytial virus (RSV) for adults aged 60 and above marks a significant milestone in the company’s journey to diversify its product offerings. This approval comes at a crucial time for Moderna, as it seeks to address the declining demand for its