Paramount’s $108 billion bid for Warner Bros. has got Late Show host Stephen Colbert curious about its economics. The bid, led by CEO David Ellison, is significantly lower than Netflix’s $82.7 billion deal to buy the studios and assets. Despite the large price tag, Paramount’s offer includes $24 billion from wealthy funds controlled by Saudi … Read more
The US Treasury Department has accelerated a deregulatory push by asking the Financial Stability Oversight Council (FSOC) to ease regulations that they claim are strangling economic growth. The move comes as President Trump looks to jump-start economic output ahead of midterm elections next year. Treasury Secretary Bessent is directing the FSOC to create working groups … Read more
Two rival bids for Warner Bros. Discovery are on the table – a $108 billion bid from Paramount and an $83 billion offer from Netflix. The outcome is uncertain, with the Trump administration likely to review both proposals under antitrust laws. The review process could take several months to over a year. Government officials will … Read more
Investment Lieutenant Todd Combs Leaves JPMorgan for Bank of America – A top lieutenant of Warren Buffett’s investment firm, Berkshire Hathaway, has left his role at JPMorgan Chase. Todd Combs, who manages around $60 billion in investments on behalf of Berkshire Hathaway, is now joining Bank of America as its head of the asset manager … Read more
Meta plans to reduce its investments in the metaverse unit by 10-30% due to financial struggles. The company aims to redirect funds towards augmented reality glasses, which have been successful since their introduction in 2021. Despite this shift, Meta does not plan to abandon the metaverse project. Reality Labs, a division of Meta, has posted … Read more
US Treasury Secretary Scott Bessent has announced plans to overhaul the Financial Stability Oversight Council (FSOC), shifting its focus from regulatory policies to a more deregulatory approach to boost economic growth. The council, established after the 2008 financial crisis, will now work with agencies to identify burdens and negative impacts on stability, while exploring how … Read more
A new attack dubbed “ConsentFix” uses the Azure CLI OAuth app to hijack Microsoft accounts without needing a password or bypassing multi-factor authentication (MFA) verifications. Cybersecurity firm Push Security discovered this variant, which steals OAuth 2.0 authorization codes used to obtain an Azure CLI access token. The ConsentFix attack starts with a fake Cloudflare Turnstile … Read more
Mayor Eric Adams has secured a major developer, GFP Real Estate, to redevelop a city-owned office building in Lower Manhattan into 3,700 units of mixed-income housing. The deal is worth millions, but the price tag and terms are not publicly known. The Gural family, who own GFP Real Estate, have contributed over $45,000 to Empower … Read more
The United States seized an oil tanker off the coast of Venezuela on Wednesday, marking a significant escalation in President Donald Trump’s pressure campaign against the Maduro regime and its oil-dependent economy. The tanker, identified as Triton, was sanctioned by the US for its involvement in an illicit oil shipping network supporting foreign terrorist organizations. … Read more
The Department of Homeland Security (DHS) has signed a contract worth $140 million to purchase six Boeing 737 planes for deportation operations. The move will allow the agency to operate its own fleet, which is part of a larger funding increase approved by Congress earlier this year. The planes are funded through the $170 billion … Read more