Shari Redstone reveals details of the $8 billion sale of Paramount Global to Skydance Media, highlighting a challenging negotiation process. A major hurdle was President Trump's $10 billion lawsuit against CBS News, which Paramount settled for $16 million. Redstone expressed surprise at the low settlement amount and professed ignorance...
Air Canada suspended operations and cancelled hundreds of flights affecting 500,000 passengers after 10,000 striking flight attendants defied a government back-to-work order. The dispute centers on unpaid boarding time, a practice Air Canada maintains while some US airlines have recently adopted boarding pay. The strike, deemed unlawful by...
The Federal Trade Commission (FTC) sued Maryland-based Key Investment Group (KIG) for allegedly violating the Better Online Ticket Sales Act (BOTS Act). KIG is accused of using fraudulent methods to acquire nearly 380,000 concert tickets, including Taylor Swift's Eras Tour, and reselling them for millions in profit. The...
Soho House, the exclusive private members' club chain, has been acquired for $2.7 billion (£2 billion) by a consortium including actor Ashton Kutcher. The deal, orchestrated by MCR Hotels and Apollo, takes Soho House private again, with existing shareholders retaining their stakes. Kutcher will join the board alongside MCR's...
JPMorgan warns investors to prepare for market volatility despite current optimism. While recent inflation data eased concerns, the firm's Fabio Bassi notes the market is pricing in a 'Goldilocks scenario' and is vulnerable. He anticipates a 5-10% S&P 500 pullback, potentially to 5800-6000, though this could present a...
MSNBC is rebranding as MS Now (My Source News Opinion World) and dropping its peacock logo before the year's end. This name change, part of parent company Versant's separation from Comcast's NBCUniversal, aims to distinguish MSNBC from NBC News. The network is aggressively hiring and establishing its own...
Chili's, a Tex-Mex restaurant chain, defied industry trends by reporting a 24% sales jump this year, adding to a 39% increase over the past two years. This success is attributed to attracting younger customers with affordable menu options like a $10.99 three-plate deal and a $14.39 burger meal, competing...
Qantas, Australia's flagship airline, has been slapped with a record A$90 million fine for illegally terminating 1,700 ground staff during the COVID-19 pandemic. The Federal Court ruling, welcomed by the Transport Workers' Union, aims to deter similar actions by other employers. The fine is the largest ever imposed...
Air Canada suspended its Sunday flight resumption plan after the Canadian Union of Public Employees (CUPE), representing 10,000 flight attendants, defied a return-to-work order from the Canada Industrial Relations Board (CIRB). The strike, impacting 130,000 daily travelers, began Saturday. The government intervened, ordering a return to work, but...
The Powerball jackpot soared to $605 million after Saturday's drawing yielded no winners. Monday night's drawing offers a chance at the massive prize, payable either as a $605 million annuity over 30 years or a $273.4 million lump sum. However, significant taxes reduce the lump sum to approximately...
