Warner Bros. Discovery Reports Narrowed Loss Despite Industry Challenges
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Warner Bros. Discovery Reports Narrowed Loss Despite Industry Challenges

Warner Bros. Discovery, facing ongoing challenges in the media industry, revealed a significantly reduced loss in the final quarter of 2023 compared to the same period the previous year. However, the company’s loss was wider than analysts had anticipated. The media conglomerate, which boasts CNN among its assets, reported a net loss of $400 million…

Nvidia CEO Jensen Huang Jumps Up Billionaire List Amid Company’s Stock Surge
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Nvidia CEO Jensen Huang Jumps Up Billionaire List Amid Company’s Stock Surge

Nvidia CEO Jensen Huang experienced a significant surge in wealth on Thursday as the tech company he helped found in 1993 witnessed a remarkable increase in its stock value. Ranked by Bloomberg as the 21st wealthiest individual globally, Huang’s net worth soared by approximately $8.5 billion in a single day, propelled by a 15% surge…

Jeff Bezos Completes $8.5 Billion Amazon Share Sale Plan
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Jeff Bezos Completes $8.5 Billion Amazon Share Sale Plan

Amazon’s founder, Jeff Bezos, has finalized another phase of his share sale plan, disposing of approximately 14 million Amazon shares valued at around $2.4 billion (£1.9 billion). This recent sale marks Bezos’s divestment of approximately 50 million Amazon shares over the past nine trading days, totalling approximately $8.5 billion. Bezos had previously disclosed intentions to…

Capital One Makes a Bold Move, Acquires Discover Financial Services in $35.3 Billion Deal
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Capital One Makes a Bold Move, Acquires Discover Financial Services in $35.3 Billion Deal

Capital One, a major player in the financial services industry, has announced its acquisition of Discover Financial Services for a whopping $35.3 billion in an all-stock transaction. This strategic move is set to bolster Capital One’s position in the fiercely competitive credit card market. The deal, unveiled on Monday evening, entails Discover shareholders receiving slightly…

Walmart Ventures Beyond Retail, Acquires Vizio in $2.3 Billion Deal
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Walmart Ventures Beyond Retail, Acquires Vizio in $2.3 Billion Deal

Walmart, the retail giant known for its expansive presence in the grocery and retail sectors, is making a bold move into the media and advertising landscape with its recent acquisition of TV manufacturer Vizio for $2.3 billion. The strategic purchase, announced on Tuesday, underscores Walmart’s ambition to expand its advertising arm and position itself as…

Currys Rejects £700 Million Takeover Bid from US Firm Elliott
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Currys Rejects £700 Million Takeover Bid from US Firm Elliott

Currys, the electrical goods retailer, has turned down a £700 million takeover offer from US investment firm Elliott, stating that the bid significantly undervalued the company and its potential for growth. The proposed acquisition, which aimed to acquire Currys for approximately £700 million, was rebuffed by the company’s board, highlighting their belief that the offer…

McDonald’s Says Middle East Turmoil is Hurting its Business
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McDonald’s Says Middle East Turmoil is Hurting its Business

Fast-food giant McDonald’s has reported that its business is being affected by the escalating tensions in the Middle East. While announcing overall growth in sales and earnings for the fourth quarter, the company highlighted that the regional turmoil has put pressure on its sales in the Middle East, prompting McDonald’s to closely monitor the evolving…

UPS Announces Job Cuts of 12,000 in Effort to Save $1 Billion in Costs
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UPS Announces Job Cuts of 12,000 in Effort to Save $1 Billion in Costs

In a strategic move aimed at reducing costs, UPS has revealed plans to cut 12,000 jobs, primarily targeting manager and contractor positions. The decision comes as the company seeks to save $1 billion, addressing challenges and disappointing sales projections for the upcoming year. UPS has adjusted its sales outlook for the year, anticipating global revenue…

Tesla Shares Plummet, Wiping Out $80 Billion Amidst Gloomy Earnings Call
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Tesla Shares Plummet, Wiping Out $80 Billion Amidst Gloomy Earnings Call

Tesla witnessed a sharp decline in its shares, plummeting by 12% on Thursday and erasing a staggering $80 billion in market value. The dip followed the electric car giant’s cautionary statements about decelerating growth in electric car sales and the looming threat posed by Chinese competitors. Closing at its lowest level since December 2022, Tesla’s…

Cyberattack Disrupts Wall Street, Knocks Systems Offline
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Cyberattack Disrupts Wall Street, Knocks Systems Offline

EquiLend, a prominent Wall Street firm processing trillions of dollars in securities transactions monthly, has fallen victim to a cyberattack, disrupting some of its systems, the company confirmed on Wednesday. Owned by major financial institutions including Goldman Sachs, JPMorgan, BlackRock, and Bank of America, EquiLend issued a statement to CNN, revealing that it may take…