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SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line outside Disney Studios in Burbank, California, U.S., July 25, 2023. The union representing roughly 11,500 film and television writers and the group that represents the studios and streaming companies announced the preliminary agreement on Sunday. The three-year deal, whose details were not disclosed, needs to be approved by the leadership of the Writers Guild of America and union members to officially end the strike. But even after the approval, it will take longer for productions to resume as Hollywood actors are still on strike. Its shares have dropped nearly 14% since the writers' strike started on May 2, while Paramount, Disney and Netflix have lost between 20% and 45%.
Persons: Mike Blake, Walt Disney, Susannah Streeter, Hargreaves Lansdown, WBD, David Zaslav, Craig Huber, Yuvraj Malik, Zaheer Kachwala, Arun Koyyur Organizations: Writers Guild of America, Disney Studios, REUTERS, Warner Bros Discovery, Paramount Global, Netflix, SAG, Hargreaves, Paramount, Disney, Media, Huber Research Partners, Thomson Locations: Burbank , California, U.S, Bengaluru
[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 22, 2023. The MSCI All-World index (.MIWD00000PUS), which is heading for its worst monthly performance this year, with a 3.6% drop, was down 0.2% on the day. U.S. 10-year Treasury yields have nudged at 4.5% for the first time since October 2007, and on Monday were up 5 basis points at 4.491%, set for their largest monthly rise in a year, reflecting investor unease over the economic outlook. The dollar index got a boost from the rise in Treasury yields, rising 0.1% on the day. Brent crude futures rose 0.2% to $93.48 a barrel, while West Texas Intermediate rose 0.1% to $90.16.
Persons: Jerome Powell, Frederik Ducrozet, Ducrozet, Powell, Evergrande, Andrew Lilley, Kazuo Ueda, Stella Qiu, Himani Sarkar, Jacqueline Wong, Miral Fahmy, Mark Heinrich Our Organizations: REUTERS, Staff, Global, European Central Bank, Bank of England, Federal Reserve, Treasury, Pictet Wealth Management, Nasdaq, Barrenjoey, Bank of Japan, Brent, West Texas, Thomson Locations: Frankfurt, Germany, U.S, Europe, CHINA
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Uncertainty around the trajectory for interest rates, including a potential hike by year-end and expectations for fewer cuts next year, have pushed the 10-year Treasury yield to a 16-year high, hurting growth stocks. ET, Dow e-minis were down 13 points, or 0.04%, S&P 500 e-minis were down 1.75 points, or 0.04%, and Nasdaq 100 e-minis were down 11 points, or 0.07%. HP Inc (HPQ.N) dipped 2.7% after Warren Buffett's Berkshire Hathaway (BRKa.N) sold nearly 4.8 million shares of the PC maker. Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Arun Koyyur and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Berkshire Hathaway, Jerome Powell, dampening, Raffi Boyadjian, Walt Disney, Warren Buffett's Berkshire Hathaway, Jefferies, JD.com, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies Media, Nike, Dow, Nasdaq, Federal Reserve, Nvidia, Investors, Traders, XM, Dow e, Media, Warner Bros Discovery, Paramount Global, Netflix, HP Inc, PDD Holdings, Baidu, Thomson Locations: New York City, U.S, Berkshire, Bengaluru
Why you should be traveling to Europe in fall, not summer
  + stars: | 2023-09-25 | by ( Terry Ward | ) edition.cnn.com   time to read: +9 min
And now it’s fall, when the continent really comes into its own as the leaves – and visitor numbers – start to drop. A recent report from luxury travel network Virtuoso named Paris, London and Florence as the most booked cities for fall travel. “Fall is one of the best times to visit Europe because of the vast variety of interests [the season] can cater to,” says Mina Agnos, president of luxury travel company Travelive. If you’re ready for a different take on Europe this fall, we’ve got ideas. Fall also means it’s harvest time in Rebland – an area southwest of Baden-Baden famous for its Riesling.
Persons: , Mina Agnos, foodies, Brian Young, we’ve, Sérgio Duarte, Octant, Val, Culinarium Urtijei, Christopher Hill, Holger Leue, it’s, Jack Ezon, Samantha Pearson, Notte Bianca, Valery Bareta, Belle, Caracalla Organizations: CNN, EMEA, G, Gran Canaria, UNESCO, ADLER, Mallorca Locations: Europe, Paris, London, Florence, Spain, Portugal, Turkey, Croatia, Greece, Sicily, Slovenia, Gibraltar, Tenerife, Ibiza, Mallorca, Gran, Alentejo, Douro, Val Gardena, Dolomites, Italy, Northern Italy, South, Ortisei, Romania, Brasov, Baia Mare, Saxon, Moșna, Mallorcan, Pollença, Palma . Thessaloniki, Thermaic, Santorini, Greece’s, Balkans, Mount Olympus, Thessaloniki, Malta Malta, Malta, Gozo, Comino, Valletta, Madeira, Morocco, Terrabona, Funchal, Savoy, Baden, Germany Baden, Black, Friedrichsbad
A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. S&P 500 futures , however, rose 0.3% while Nasdaq futures gained 0.4%, after Hollywood's writers union reached a preliminary labor agreement with major studios. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.5%, edging back to a 10-month low plumbed just last week. U.S. central bank officials will be out in force this week, starting with Minneapolis Fed President Neel Kashkari on Monday. Brent crude futures rose 0.6% to $93.79 per barrel.
Persons: Issei Kato, Kazuo Ueda, HSI, Louis Kuijs, Neel Kashkari, Andrew Lilley, Stella Qiu, Himani Sarkar, Jacqueline Wong Organizations: REUTERS, Bank of Japan, Nasdaq, Japan's Nikkei, Hengda, Estate Group Co, U.S, Minneapolis, European Central Bank, Brent, . West Texas, Thomson Locations: Tokyo, Japan, Europe SYDNEY, China, U.S, Europe, Asia, Pacific, firming, U.S . Federal
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Persons: Dow Jones
Writers Guild of America members walk the picket line on the first day of their strike in front of Amazon studios on Tuesday, May 2, 2023, in Culver City, CA. Talks between the Writers Guild of America and the Alliance of Motion Picture and Television Producers resumed last week after months of starts and stops, ultimately leading to a tentative deal that would end the ongoing writers strike. Television and film writers sought protections against the use of artificial intelligence, in addition to increases in compensation for streamed content. Then, the board and council will vote on whether to authorize a contract ratification vote by membership. SAG-AFTRA members have been on strike since mid-July and are seeking contract updates similar to those requested by the writers.
Persons: Television Producers, AMPTP, AFTRA Organizations: Guild of America, Amazon, Writers Guild of America, Alliance, Television, WGA, Disney, Paramount, Universal, Warner Bros . Discovery . Television, WGAW, WGAE, SAG, Screen, American Federation of Television, Radio Artists, Comcast, CNBC, Television Producers Locations: Culver City , CA, NBCUniversal
The tentative WGA deal increases pressure on SAG-AFTRA to reach an agreement along the same lines, although the actors union still has enough leverage to keep productions shut down. The studio’s resolution with WGA will likely pave the way for a deal with SAG-AFTRA within the next few weeks. The writers guild was going to fight the big fight, and the actors will use the gains writers made and customize them for their needs.”SAG-AFTRA has been on strike since July 14, joining the fray a little more than two months after the writers strike began. A major issue for the actors union is a wage increase of 11% in the first year of the proposed contract term, while the studios have only agreed to a 5% pay raise. According to Nunan, talks with the WGA will likely make studios more amenable to collaborative talks with SAG-AFTRA.
Persons: , Tom Nunan, AFTRA, Nunan, , we’ve, , ’ ”, “ It’s, It’s Organizations: CNN, Writers Guild of America, Alliance, Television Producers, Hollywood, SAG, WGA
But when will your favorite shows return? Late-night talk shows were the first to be affected when the strike began, and they may be among the first to return to air now. The actors strike limits promotional appearances that are the lifeblood of late-night shows. “Real Time with Bill Maher.” The host plotted a return without writers but ended up postponing once last week’s negotiations were set. Director Quentin Tarantino's 10th film, “The Movie Critic,” is among the scripts that are written whose makers are awaiting actors' return to sets.
Persons: , Quentin Tarantino, JIMMY KIMMEL, Jimmy Fallon, ” ABC’s, Jimmy Kimmel, Stephen Colbert ”, Drew Barrymore, Bill Maher, ” “ Severance, “ Abbott, Quentin Tarantino's, BARRYMORE, Jennifer Hudson, Barrymore Organizations: ANGELES, Hollywood, CBS, Apple, ABC, Writers Guild of America
Explainer: Is the Hollywood writers' strike over?
  + stars: | 2023-09-25 | by ( ) www.reuters.com   time to read: +2 min
Sept 25 (Reuters) - The Hollywood writers' strike is nearing its end after a preliminary agreement with studios and streaming companies on Sunday after five months of disruption. Writers will also no longer be on the picket lines as the union has asked them to stop protesting. SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line outside Disney Studios in Burbank, California, U.S., July 25, 2023. But for everything else, it could take longer as the actors and performers' union is still on strike. The Screen Actors' Guild (SAG) is considerably larger than the WGA with 160,000 film and television actors, stunt performers and other media professionals.
Persons: Analysts, Mike Blake, Jimmy Kimmel, Jimmy Fallon, Yuvraj Malik, Arun Koyyur Organizations: Hollywood, Writers ' Guild of America, Writers, SAG, Writers Guild of America, Disney Studios, REUTERS, Media, Guild, WGA, Abbott, Thomson Locations: Burbank , California, U.S, Bengaluru
Hollywood writers reach a preliminary labor agreement with major studios. Thousands of ethnic Armenians flee the breakaway region of Nagorno-Karabakh after Azerbaijan takes control. In Kosovo, Serb gunmen on the run after deadly monastery siege. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. Further ReadingStriking Hollywood writers reach tentative deal with studiosNagorno-Karabakh's Armenians start to leave en masse for ArmeniaSerb gunmen battle police in Kosovo monastery siege; four deadUS government shutdown: What is it and who would be affected?
Organizations: Apple, Google, Reuters, Thomson, Striking Hollywood, Armenia Serb Locations: Nagorno, Karabakh, Azerbaijan, Kosovo, masse
The Writers Guild of America reached a tentative deal with top entertainment companies on a new contract, ending one of Hollywood’s longest labor disputes and moving the industry closer to restarting. The Writers Guild was able to secure concessions on most of their demands from the studios, including increases in royalty payments for streaming content and guarantees that artificial intelligence will not encroach on writers’ credits and compensation. After 146 days on strike, the deal was reached after five consecutive days of negotiations. The use of A.I., one of the main drivers for writers to call a strike, was the last sticking point. Over the weekend, the studios proposed a few paragraphs to be inserted into the new contract that addressed a guild concern about A.I.
Persons: there’s Organizations: Guild of America, Hollywood, Guild
Hollywood’s brief thaw belies a long winter
  + stars: | 2023-09-25 | by ( Jennifer Saba | ) www.reuters.com   time to read: +4 min
The union representing movie and TV writers tentatively agreed to a new contract on Sunday, setting the stage to end a five-month impasse. Content production is back on the budget line for streaming services. They too want to share in the spoils of a successful movie or TV series on streaming services. Charter now doesn’t have to carry eight Disney networks including FXX and Disney Junior, while Disney also is giving Charter’s customers access to its ad-supported streaming services for no additional charge. The brief thaw belies a long winter.
Persons: Fran Drescher, Duncan Crabtree, Walt Disney, Bob Iger, Ted Sarandos, David Zaslav, Donna Langley, , Lauren Silva Laughlin, Aditya Sriwatsav Organizations: SAG, Writers Guild of America, Hollywood, Netflix, Reuters, Guild of America, Walt, Warner Bros Discovery, NBC Universal, Charter Communications, Disney, Disney Junior, WWE, Paramount Global, Paramount, Alliance, Producers, WGA, Thomson Locations: Los Angeles , California, U.S
Demonstrators carry signs during the WGA strike in New York City in May. Leonardo Munoz/AFP via Getty ImagesWhatever the outcome of this battle, though, there are signs Hollywood overall is losing the war. Now with streaming gains slowing, the revenues from those new subscribers aren’t fully offsetting what’s being lost. That’s bad for the creative class.”So, were there “winners” and “losers” in the writers’ strike? To the extent the strike left their fall TV lineups looking relatively bare, this was a loss for them and gift to the streaming services.
Persons: , Frederic J . Brown, Leonardo Munoz, they’re, “ Barbie ”, “ Oppenheimer, Indiana Jones, , CHRIS DELMAS, , Bloomberg’s Lucas Shaw, Strong ”, Oscar, Drew Barrymore, Bill Maher, Barrymore Organizations: CNN, Guild of America, WGA, Netflix, , Getty, Hollywood, Disney, Charter Communications, ESPN, SAG, Warner Bros, of America Locations: AFP, New York City
That's even as he's accused Beijing of pushing TikTok as “digital fentanyl” to Americans and wants the app banned entirely. A spokeswoman for Ramaswamy's campaign defended both the decision to join TikTok and Ramaswamy's criticisms that the app is dangerous. While he is trying to make himself attractive to younger voters, Ramaswamy has promoted policy ideas that would directly target them. It creates short clips criticizing and mocking Republicans and recycles Biden clips originally posted on other social media networks such as Instagram. “I’m hopeful that as more younger conservative candidates run for office, they’ll embrace social media more and be more comfortable with it," she said.
Persons: TikTok, Vivek Ramaswamy, he's, ” Ramaswamy, , Tricia McLaughlin, , Ramaswamy, , ByteDance, Donald Trump, Joe Biden, Biden’s, recycles Biden, Ryan Calo, Calo, ” Calo, Trump, John Brabender, ” Brabender, Brabender, Clarkson Lawson, Lawson, ” Erica Choinka, Choinka, we’ve, we’re, ” ___ Kinnard, Gomez Licon, Michelle L, Price, Linley Sanders Organizations: U.S, Washington, ByteDance Ltd, Authorities, Democratic National Committee, University of Washington, GOP, Trump, Las, Associated Press Locations: China, Beijing, U.S, France, Iraq, Las Vegas, Florida, Columbia , South Carolina, Miami, New York, Washington
A Deal in Hollywood
  + stars: | 2023-09-25 | by ( German Lopez | Lauren Jackson | More About German Lopez | ) www.nytimes.com   time to read: 1 min
A writers’ strike has frozen Hollywood for months. Writers and studios have reached a tentative deal, the Writers Guild of America announced yesterday. The tentative deal includes most of what the writers sought. In the coming days, union members will vote on whether to approve the agreement. “We can say, with great pride, that this deal is exceptional — with meaningful gains and protections for writers in every sector of the membership,” the W.G.A.
Organizations: Studios, Writers Guild of America
PBS acquired the docuseries “ Becoming Frida Kahlo,” about the artist, to replace it and it premiered last week. Political Cartoons View All 1179 ImagesPBS has also bought a few more scripted series that were made outside of the U.S., she said. Most of them are aimed at PBS' streaming service, although the Danish series “Seaside Hotel” has aired on the television network. A British drama about the lives of people fighting World War II, “World on Fire,” is premiering its second season in October. Other scripted series are on the docket, including “Unforgotten,” “Van Der Valk,” and “Little Bird,” the latter about an adopted woman who tries to investigate her personal history.
Persons: Ken Burns, , Paula Kerger, John Leguizamo, Kerger, Frida Kahlo, Burns, Jerry Brown, Floyd Abrams, Max Roach, , Vladimir Putin's, Nova, “ Unforgotten, Van Der Valk Organizations: PBS, Hollywood, Public Broadcasting Service, , Elon Musk's, Twitter, Houston Astros, Associated Press Locations: American Buffalo, U.S, Danish, , Boston, Elon, Mariupol
Morning Bid: Fed's hawkish pause keeps pressure on markets
  + stars: | 2023-09-25 | by ( ) www.reuters.com   time to read: +3 min
Global markets have been feeling the heat as U.S. bond yields surged and a strengthened dollar hit a six-month high following the Federal Reserve's hawkish tone last week. The euro zone central bank also struck a relatively dovish tone. But markets will have plenty of material to pore over this week as they try to glean future Fed moves. In the euro zone, ECB President Christine Lagarde kicks off a string of speeches and remarks this week. Markets are expecting that the euro zone's central bank is done hiking.
Persons: Jonathan Ernst, Brigid Riley, Neel Kashkari, Christine Lagarde, Francois Villeroy de Galhau, Isabel Schnabel, Fed's Neel Kashkari, Edmund Klamann Organizations: . Federal, REUTERS, Brigid, Brigid Riley Investors, Global, Federal Reserve, U.S, Minneapolis, China, HK, ECB policymaker, Bank of France, ECB, Thomson Locations: Washington, U.S, Europe, Britain, Switzerland, Japan, China, Hollywood
AstraZeneca — Shares rose 1.4% after Jefferies upgraded the stock to buy from hold. Dow — Shares of the petrochemicals company rose 1.6% Monday during premarket trading. Chinese e-commerce stocks — U.S.-traded shares of JD.com and PDD Holdings lost 3.1% and 2.3%, respectively, as sentiment around China's economy worsened. HP — Shares of the computer company fell about 3% after Berkshire Hathaway sold 4.8 million shares, or approximately $130 million, of HP. Sealed Air — The food packaging company jumped 2.7% after Citi upgraded shares to buy from neutral.
Persons: Jefferies, Locker, Berkshire Hathaway, Anthony Pettinari, Nio, , Alex Harring, Jesse Pound Organizations: WGA, Guild of America, SAG, Paramount Studios, AstraZeneca —, Urban Outfitters, Dow —, JPMorgan, Nike, Jefferies, Citi, U.S, PDD Holdings, Media, — Media, Paramount, Warner Bros, Disney, HP —, Berkshire, HP Locations: Los Angeles , California, China, JD.com, U.S
The work stoppage isn’t officially over yet, and actors remain on strike. attained suggest that as organized labor enjoys a surge in popularity across a variety of industries, its muscle-flexing is achieving results. “We can say, with great pride, that this deal is exceptional,” the W.G.A. News reports suggest the deal includes provisions for residual payments from streaming, minimum staffing of shows and limits on the use of artificial intelligence. Until then, writers are still on strike, though they’re not actively picketing.
Persons: isn’t, they’re Organizations: Guild of America, Hollywood
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. The indexes also eyed their first quarterly declines so far this year heading into the last days of September. Consumer staples (.SPLRCS) and utilities (.SPLRCU) were the worst hit among the major S&P 500 sector indexes, while energy (.SPNY) was the top gainer. Meanwhile, Chicago Fed president Austan Goolsbee in an interview on CNBC stressed on the need to brining inflation back to the 2% target, after some Fed policymakers last week warned of further hikes. The S&P index recorded no new 52-week highs and 37 new lows, while the Nasdaq recorded 16 new highs and 225 new lows.
Persons: Brendan McDermid, Jerome Powell, Thomas Martin, Austan Goolsbee, Walt Disney, Jefferies, JD.com, advancers, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies Media, Nike, Dow, Nasdaq, Major U.S, Federal Reserve, Microsoft, GLOBALT Investments, Traders, Dow Jones, Chicago Fed, CNBC, Media, Netflix, PDD Holdings, Baidu, NYSE, Thomson Locations: New York City, U.S, Major, Bengaluru
The actors’ union offered congratulations to the Writers Guild of America, which represents more than 11,000 screenwriters, in a statement on Sunday night, adding that it was eager to review the tentative agreement with the studios. Neither SAG-AFTRA nor the studio alliance immediately responded to requests for comment on Monday. “The deal that the Writers Guild and the studios struck economically could have been worked out in May, June. Discovery said this month that the impact from the labor disputes would reduce its adjusted earnings for the year by $300 million to $500 million. Additionally, share prices for other major media companies like Disney and Paramount have taken a hit in recent months.
Persons: , , Bobby Schwartz, Quinn Emanuel, we’ve, , Gavin Newsom Organizations: Writers Guild of America, Alliance, Television Producers, Hollywood, Writers Guild, SAG, Gov, Warner Bros, Discovery, Disney, Paramount
Movie theater shares popped Monday following news of a tentative labor deal between the Writers Guild of America and the Alliance of Motion Picture and Television Producers. Extremely good news that progress is being made," AMC CEO Adam Aron said Sunday in a post on X, the site formerly known as Twitter. Shares of AMC were up roughly 7% Monday. The Screen Actors Guild – American Federation of Television and Radio Artists is still on strike after failure to reach a labor agreement with AMPTP. The summer season saw a 19% year-over-year increase, due in large part to the success of "Barbie" and "Oppenheimer."
Persons: Adam Aron, it's, Kraven, Hunter, Oppenheimer, Eric Wold, AFTRA, — CNBC's Sarah Whitten Organizations: AMC, Regal Cinemas, Writers Guild of America, Alliance, Television Producers, Twitter, Disney, Comcast, Warner Bros, Discovery, Hollywood, – American Federation of Television, Radio Artists, AMPTP, SAG, Riley Securities, WGA, Netflix, CNBC Locations: Square , New York, NBCUniversal
The Writers Guild of America (WGA), which represents roughly 11,500 film and television writers, reached a preliminary three-year deal with major studios on Sunday. While actors remain on strike, late-night and daytime talk shows may resume production once their writers receive the Guild's greenlight to return to work in the coming days or weeks. Film and television producer Todd Garner said he expects that once actors reach a deal, scores of productions will race to restart at once. Major television shows and movies are contractually in first position with actors, Garner said. Its shares have dropped nearly 14% since the writers' strike started on May 2, while Paramount, Disney and Netflix have lost between 20% and 45%.
Persons: David Swanson, Drew Barrymore, Barrymore, Jimmy Fallon, Todd Garner, Garner, " Garner, Walt Disney, Susannah Streeter, Hargreaves Lansdown, Rosenblatt, Barton Crockett, Lisa Richwine, Dawn Chmielewski, Yuvraj Malik, Zaheer Kachwala, Arun Koyyur, Sandra Maler Organizations: Netflix, Writers Guild of America, REUTERS, Hollywood, Guild of America, SAG, Long, Warner Bros Discovery, Comcast, Hargreaves, Paramount, Disney, Thomson Locations: Los Angeles , California, U.S, California, Los Angeles, Bengaluru
In the week ahead , Club name Costco (COST) reports its quarter after the closing bell Tuesday. The analysts also remove their price target, saying the generative AI narrative is "too positive a force to contend with." Club name Oracle (ORCL) gets a price target cut to $130 per share from $132 at BMO Capital, which keeps market perform (hold) rating. Jefferies downgrades Club name Foot Locker (FL) to hold from buy and cuts price target to $18 per share from $28. Citi lowers price target on Club name Starbucks (SBUX) to $104 per share from $112.
Persons: Jim Cramer, Guggenheim, Morgan Stanley, , Max, CloudWorld, Jefferies, Jim Cramer's, Jim Organizations: Dow, Nasdaq, Costco, Hollywood, Disney, Paramount, Comcast, Universal, Warner Bros Discovery, Writers Guild of America, Alliance, Television Producers, United Auto Workers, General Motors, Chrysler, Ford, UAW, Ford ., Club, Microsoft, OpenAI, Guggenheim, Apple, Pro, Oracle, BMO Capital, Jefferies, Nike, Citi, Starbucks, Jim Cramer's Charitable, CNBC Locations: Canada
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