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☆ Hong Kong is "on the ascendancy" in entertainment, says events CEO
▼ + stars: | 2024-11-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHong Kong is "on the ascendancy" in entertainment, says events CEOMichael Denmark of Great Entertainment Group talks about the recovery of Hong Kong's events economy and its status as a destination of choice for live entertainment.

Persons: Michael Denmark of Organizations: Hong, Michael Denmark of Great Entertainment Group Locations: Hong Kong

☆ Cleveland launches formal bid for a WNBA team
▼ + stars: | 2024-11-20 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

Dan Gilbert Cleveland Cavaliers owner talks during a press conference introducing new head coach John Beilein at Cleveland Clinic Courts on May 21, 2019 in Independence, Ohio. Dan Gilbert, owner of the Cleveland Cavaliers, wants to bring a WNBA team to Northeast Ohio. Rock Entertainment Group, the umbrella company that hosts Gilbert's sports and entertainment properties, told CNBC on Wednesday that it intends to submit a proposal for a WNBA expansion team. The Cavs also have an existing practice facility in Independence, Ohio, which they said could be ready-made for a WNBA team. The Cleveland Cavs are off to their best start in history, currently sitting in first place in the Eastern Conference with a 15-1 record.

Persons: Dan Gilbert Cleveland, John Beilein, Dan Gilbert, Cathy Engelbert, Nic Barlage, Barlage, Cleveland, David Gilbert, that's, Engelbert, We're, Allen, Gilbert Organizations: Dan Gilbert Cleveland Cavaliers, Cleveland Clinic Courts, Cleveland Cavaliers, WNBA, Rock Entertainment Group, CNBC, NBA's Cavaliers, NFL's Browns, MLB's, American Hockey, Cleveland Clinic, Center, Cleveland Sports Commission, Eastern Conference, Golden State, Fortune, Allen & Company, Company Locations: Independence , Ohio, Northeast Ohio, Cleveland, Ohio, Denver, Miami, Milwaukee, St, Louis, Philadelphia, Toronto, Portland , Oregon

☆ Utah Hockey Club is beefing up Salt Lake City's roster as a sports hub
▼ + stars: | 2024-11-20 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Salt Lake City checked all the boxes for a new professional sports team — particularly in the National Hockey League. Salt Lake City kicked off its first season in the NHL this year after the Utah Hockey Club relocated from Phoenix. The early excitement of the fanbase, marked by sellout crowds and high merchandise sales, is solidifying Salt Lake City as a sports market. So far, every one of the 11,131 unobstructed view seats at Delta Center has been sold out, according to the Utah Hockey Club. The Utah Hockey Club generated the highest retail sales on its opening night of any hockey team this season, including the Florida Panthers, the 2023-24 Stanley Cup champions, according to the Utah Hockey Club.

Persons: Ryan Smith —, Ryan, Ashley Smith, Smith, Gary Bettman, —, Chad Hutchinson, Hutchinson Organizations: National Hockey League, Salt Lake City, NHL, Utah Hockey Club, National Basketball, Utah Jazz, Major League Soccer's, National, Soccer League's Utah Royals, Smith Entertainment Group, Arctos Partners, Delta Center, Delta, NBA, Florida Panthers, Utah Hockey Club's, Vegas Golden Knights Locations: Salt Lake City, U.S, —, Salt Lake, Phoenix, Salt, Utah

☆ A K-pop star was photographed kissing a woman. Fans decided he should be fired for it.
▼ + stars: | 2024-10-22 | by ( Larissa Gao | Larissa Gao Is An Associate Social Newsgathering Reporter Based In Hong Kong. | ) www.nbcnews.com time to read: +8 min

Within two days of his return, SM Entertainment said Seunghan was out again, leading fans to post triumphant videos showing them dancing in front of the funeral wreaths. “Many fans, mostly international fans, want him back in the group.”SM Entertainment did not respond to an emailed request for comment. “He made those teenage mistakes.”This is far from the first time that K-pop idols have fallen afoul of fans for having personal relationships. In March, Karina from Aespa, another SM Entertainment group, apologized for letting fans down after Korean media revealed her relationship with actor Lee Jae-wook. International fans are less invested in K-pop stars both emotionally and financially, said Stephanie Choi, a faculty expert on K-pop music at the University at Buffalo.

Persons: Seunghan, ” Seunghan, Shotaro, Anton, ” Tarryn McMurray, Arianna, ”, Jung, Yeon, “, RIIZE, sunbae, Yuki Shu, ” Hye Jin Lee, ” Lee, “ We’re, Karina, Aespa, Lee Jae, EXO’s Chen, HyunA, Dawn, ’, ” McMurray, Stephanie Choi Organizations: SM Entertainment, Getty, NBC News, Annenberg School for Communication, Journalism, University of Southern, Pentagon, Cube Entertainment, University at Buffalo, USC Locations: Korean, Seoul, Japan, United States, South Korea, British, Wisconsin, Seunghan, University of Southern California

Comcast CEO Brian Roberts chose Shell to replace Steve Burke as NBCUniversal CEO in 2019. Soon, Shell, 59, will be at the helm of Paramount and paired with Ellison, who has already expressed his desire to transition Paramount into a more modern media company. The 10 p.m. hourAt Paramount, Shell will be given an asset mix similar to what he oversaw at NBCUniversal — save the theme parks. Wolf's shows were also significant moneymakers for NBCUniversal, according to a person familiar with the matter. Some media analysts, such as LightShed Partners' Rich Greenfield, have argued Paramount Global should shut down Paramount+ and instead license Paramount content to other streamers with more scale.

Persons: Jeff Shell, Eric Gaillard, NBCUniversal, David Ellison, Ellison, Comcast's NBCUniversal, Shell, Brian Roberts, Steve Burke, RedBird, Andrew Brandon, Gordon, Shell's, —, Skydance, NBC —, CNBC's David Faber, George Cheeks, Hollywood creatives, Dick Wolf, Kevin Dietsch, Stephen Colbert, it's, we've, Pluto, Rich Greenfield, Shell's playbook, We've, Peacock, Roberts, Andrew Wilson, Brian L, Eric Charbonneau, Wall, Mark Hoffman, Shepard Smith, Hoffman Organizations: NBCUniversal, Cannes Lions International, Creativity, Reuters, Paramount Global, Skydance Media, Shell, CNBC, Paramount, Fox, Comcast, NBCU International, Universal, Entertainment Group, RedBird Capital Partners, NFL, CBS, Paramount Pictures, NBC, Local, Journal, FBI, Hollywood, TV, Allen & Company Sun Valley, Getty, LightShed Partners, Warner Bros ., Viacom, WarnerMedia, Netflix, EA, Entertainment, Comcast Corporation, Universal Pictures, Invision, Bravo, MSNBC, MTV, VH1, Comedy Central, Fox News, NBC Sports, NBA, CBS Sports, Big Ten, UEFA Champions League Locations: Cannes, France, Shell, NBCUniversal, Sun Valley , Idaho, Toronto

☆ Stocks making the biggest moves premarket: Home Depot, Starbucks, Hormel Foods, Chipotle and more
▼ + stars: | 2024-08-13 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Starbucks , Chipotle Mexican Grill — Shares of the coffee chain popped more than 11% in the premarket after the company replaced its chief executive, Laxman Narasimhan, with Chipotle CEO Brian Niccol . Chipotle shares were down about 10%. The company reported earnings of 0.14 Swiss francs per share, or about $0.16, below the StreetAccount estimate of 0.16 Swiss francs. However, revenue of 567.7 million Swiss francs was better than the 562.1 million expected. Kodiak Gas Services — The natural gas services company dipped 2.7% after posting a year-over-year fall in earnings and a top-line miss.

Persons: Laxman Narasimhan, Brian Niccol, Riley, —, Jesse Pound, Fred Imbert Organizations: Home Depot, Entertainment Group, Kodiak Gas Services, Kodiak, Revenue, Citigroup, Riley, SEC, Securities and Exchange Commission Locations: StreetAccount

☆ Stocks making the biggest moves midday: Starbucks, Chipotle, Home Depot, Tencent and more
▼ + stars: | 2024-08-13 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Starbucks , Chipotle Mexican Grill — Starbucks stock shot up 21% after the coffee chain ousted CEO Laxman Narasimhan effective immediately and replaced him with Chipotle CEO Brian Niccol, who will step in Sept 9. Three Wall Street firms already upgraded Starbucks stock after the news. Revenue of 567.7 million Swiss francs topped the 562.1 million expected by analysts polled by StreetAccount. The filings showed that the shareholders, including the Ontario Teachers' Pension Plan Board, were working with Morgan Stanley to sell a total of about 11 million shares of ViaSat. Rumble — Shares advanced more than 5% after the video sharing company's second-quarter results beat expectations on the top and bottom lines.

Persons: Laxman Narasimhan, Brian Niccol, Morgan Stanley, Carlyle, Riley, — CNBC's Sean Conlon, Michelle Fox, Alex Harring, Hakyung Kim, Jesse Pound Organizations: Starbucks, Home Depot, Depot, Dell Technologies, Barclays, Entertainment, Mobile, Citigroup, StreetAccount, ViaSat, Ontario, Board, Garden, Madison, Garden Sports, Baxter, Baxter International, Riley, SEC Locations: China, FactSet, Madison

☆ Nollywood aims to become a global cultural phenomenon like Afrobeats
▼ + stars: | 2024-07-30 | by ( Stephanie Busari | ) edition.cnn.com time to read: +6 min

New Orleans, Louisiana CNN —Nollywood, Nigeria’s vibrant film industry, is setting its sights on achieving global recognition akin to the meteoric rise of Afrobeats. As the third-largest film industry in the world by number of films produced annually, Nollywood has long been a significant cultural force within Africa. Global aspirationsToday, Nollywood is not just about entertainment; it’s about cultural representation and storytelling on a grand scale. Nollywood at the Essence Film FestivalAt the Essence Film Festival, a recent addition to the wider festival celebrating Black culture and achievements, Nollywood stars and stakeholders discussed their vision for international expansion. 3 on Netflix’s global film charts in 2023, garnering over 20 million views worldwide.

Persons: Louisiana CNN —, Nollywood, ”, Toyosi Etim, “ Afrobeats, Simisola, Uche, Omotola, “, , “ I’ve, ” Gbadamosi, Disney’s, it’s, Effiong, Moses Babatope, FilmOne, Babatope Organizations: Louisiana CNN, Netflix, Good Media, CNN, Essence, Academy, Hollywood, Nile Media Entertainment Group, Disney, Warner Bros Locations: Orleans, Louisiana, Africa, New Orleans, New Orleans , Louisiana, scriptwriting

After 23 years, Braun announced the end of his management career. He described himself as "a father first, a CEO second, and a manager no more." Scooter Braun at Crypto.com Arena on December 6, 2023. Allen Berezovsky/Getty ImagesNearly one year after Bieber, Lovato, Grande, and more severed ties with Braun, the mogul said his time as a manager had come to an end. So for my entire adult life I played the role of an artist manager on call 24 hours a day, 7 days a week.

Persons: Braun, Scooter Braun, Allen Berezovsky, Bieber, Lovato, Yael Cohen, he'd Organizations: Crypto.com Arena Locations: America

☆ International Disney parks target U.S. customers with American influencers and bloggers
▼ + stars: | 2024-05-17 | by ( Kat Tenbarge | ) www.cnbc.com time to read: +6 min

As they were originally conceived, Disney's international parks were meant to "bring the unforgettable Disney magic to an international audience," according to the company. While the international parks themselves have always taken steps to accommodate diverse audiences — providing shows and attractions in multiple languages — Disney appears to be marketing the international parks to American audiences in more direct ways. In addition to the content creator efforts, Disney has begun to include its international parks in its own content consumed by Americans. In the Disney+ show "Behind the Attraction," which premiered in 2021, numerous variations on American rides at international parks were discussed and digested for American audiences. Disney creators around the world grew their followings, and demand for content from international Disney parks rose alongside them.

Persons: Peter Pan, Disney, Quincy Stanford, AllEars, Stanford, Emma Kenner, Kenner, Taylor Swift, Rolling Stone Organizations: Disney, Tokyo Disney, YouTube, Disney Parks, NBC, Tokyo Disneyland, Magic, Tokyo Disney Resort, Stanford, Walt Disney Co, Paris La Défense, Rolling, Swift Locations: China, Japan, Tokyo, Shanghai, Hong Kong, U.S, California, Florida, Tokyo ., Paris

☆ Inflation data commands center stage next week and provides a test for the market rally
▼ + stars: | 2024-05-11 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

All three major U.S. stock indexes closed higher for the week, led by the Dow Jones Industrial Average . The Nasdaq Composite added 1.14% while the S & P 500 advanced 1.85% in a relatively quiet week of economic updates. Within the portfolio, Disney and Wynn Resorts released quarterly numbers; we took issue with the stock reaction to both reports. It also raises the stakes around major economic releases, such as next week's consumer inflation report. In the week ahead, earnings season continues — headlined by Walmart on Thursday — and inflation data will dominate the economic calendar.

Persons: We've, Jim Cramer, Dow Jones, we'll, We'll, Stanley Black, Decker, Jack, JACK, Arcutis, Spero, JD.com, Armour, Jim Cramer's, Jim, Carlo Allegri Organizations: Dow Jones, Nasdaq, Disney, Wynn Resorts, Procter, Procter & Gamble, Walmart, CPI, PPI, Club, Home Depot, Biotech Corporation, Music Entertainment, Central Puerto S.A, TeraWulf Inc, Paysafe Group Holdings, QuickLogic Corporation, Kopin Corp, Royalty Corp, Agilysys Inc, Crop Solutions Corp, Inovio Biomedical, Intercorp Financial, Lithium, Argentina ) Corp, Sea, Sony Group Corporation, SONY, Holding, HudBay Minerals, Autolus Therapeutics, Game Technology, Nu Holdings, Dragonfly Energy Holdings Corp, Bakkt Holdings, Prestige Consumer Healthcare, SilverCrest Metals, Inc, Mining Corp, Acurx Pharmaceuticals, Cresco Labs, Dole plc, DOLE, Arcos Dorados Holdings, ARCO, Cisco Systems, Grab Holdings, Copa Holdings S.A, Technologies, Iris Energy, KORE Group, Super, Spero Therapeutics, ZTO, Baidu, Deere & Company, NICE, Lightspeed Commerce, Ship Lease, Canada Goose Holdings, Drainage Systems, Consolidated Water Co, Outlook Therapeutics, Despegar.com, Corp, DXC Technology Company, Flowers Foods, Bruker Corporation, WYNN, CNBC, Foods Locations: Procter &, Central, Cayman, Lithium Americas, Argentina, Manhattan, New York City

☆ Stocks making the biggest premarket moves: Berkshire Hathaway, Paramount, Spirit Air, Victoria's Secret and more
▼ + stars: | 2024-05-06 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Paramount — Shares popped 2.4% following a report that the owner of Paramount Pictures and CBS Entertainment Group began formal acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo. Morgan Stanley downgraded Victoria's Secret to underweight and cut its price target, citing expectations for negative EPS revisions and a tough second half for specialty retail. EHang Holdings — The autonomous aircraft stock advanced 3.2% on the heels of a bullish initiation of research coverage from Morgan Stanley. United States Steel — Shares of the Pittsburgh-based steelmaker rose more than 2% after Morgan Stanley upgraded it to overweight from equal weight. U.S. Steel shares have room to rise thanks to internal improvements, even if the Nippon Steel buyout deal collapses, Morgan Stanley said in a note.

Persons: Warren Buffett, Li, Tyson, Howard Shultz, Morgan Stanley, Coinbase, Bausch, Johnson, —, Sarah Min, Tanaya Macheel, Jesse Pound, Michelle Fox, Samantha Subin Organizations: Berkshire Hathaway, Paramount, Paramount Pictures, CBS Entertainment Group, Sony Pictures Entertainment, Spirit Airlines, Li Auto, StreetAccount, Starbucks, EHang Holdings, United States Steel, . Steel, Nippon Steel, Barclays, UBS Locations: Berkshire, China, Pittsburgh

☆ Stocks making the biggest moves midday: Berkshire Hathaway, Micron, Tyson Foods, Spirit Airlines and more
▼ + stars: | 2024-05-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Spirit also forecast second-quarter revenue between $1.2 billion and $1.34 billion, below a FactSet estimate of $1.46 billion. Paramount — Shares popped 3.3% following a report that the owner of Paramount Pictures and CBS Entertainment Group began formal acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo . U.S. Steel shares have room to rise due to internal improvements, even if the Nippon Steel buyout deal collapses, Morgan Stanley said in a note. Morgan Stanley said the market is likely overlooking the Canadian-based company's progress on improving core profit margins. Morgan Stanley downgraded the intimate apparel maker to underweight due to expectations for negative earnings per share revisions.

Persons: Baird, Warren Buffett, Morgan Stanley, Tyson, StreetAccount, Bausch, Coinbase, Li Auto, Alex Harring, Jesse Pound, Samantha Subin, Hakyung Kim, Sarah Min, Matthew Staver Organizations: Berkshire Hathaway, Berkshire, Micron Technology, Spirit Airlines, Paramount, Paramount Pictures, CBS Entertainment Group, Sony Pictures Entertainment, United States Steel, . Steel, Nippon Steel, Medical Properties, Health Care, EHang Holdings, Barclays, Micron Technology Inc, Bloomberg, Getty Locations: The Boise , Idaho, Berkshire, Pittsburgh, China, Weibo, Boise , Idaho

☆ Kyle MacLachlan on His Best Movie & TV Roles: 'Dune,' 'Twin Peaks'
▼ + stars: | 2024-04-18 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +9 min

For a veteran muse of David Lynch, old habits die hard. On 'Dune,' then and nowKyle MacLachlan in David Lynch's "Dune." Then of course, because it's David Lynch, he wants to spend some time in his creative universe, and that's really what you got. Our "Dune" is the amalgam of David Lynch and his creativity, and Frank Herbert and his creativity. David Lynch and Kyle MacLachlan at the premiere of "Twin Peaks: The Return" in 2017.

Persons: Jeffrey Beaumont, Dale Cooper, Kyle MacLachlan, David Lynch, MacLachlan, Lynch, Hank MacLean, Lucy, Ella Purnell, isn't, David Lynch's, it's David Lynch, Frank Herbert, Frank, it's, David, Isabella Rosselini, Timothée Chalamet, haven't, Scorsese, Alberto E, Rodriguez, Robert Redford You've, Chris, Oliver Stone's, didn't, Robert Redford, he's, would've, Hank, You've, Kristin Davis, HBO You've, Trey, there'd, Dennis Hopper, Dennis Organizations: De Laurentiis Entertainment, Getty, HBO Locations: Hollywood

☆ Sean ‘Diddy’ Combs lawsuits: A closer look at the sexual misconduct lawsuits
▼ + stars: | 2024-03-31 | by ( Eric Levenson | Nicki Brown | ) edition.cnn.com time to read: +11 min

CNN —Even before law enforcement raided his homes, the rapper, producer and businessman Sean “Diddy” Combs faced a host of legal issues. The investigation stems from many of the same sexual assault allegations put forth in the civil lawsuits, according to a second law enforcement source familiar with Monday’s searches. Ventura v. CombsCassie Ventura has accused Diddy, her former boyfriend, of rape and abuse. Gardner v. CombsSean "Diddy" Combs has been accused of misconduct in multiple lawsuits filed since November. O’Marcaigh v. Christian and Sean CombsChristian Combs is accused of sexual assault in a lawsuit filed April 4 in Los Angeles Superior Court.

Persons: Sean “ Diddy ” Combs, Aaron Dyer, –, Mr, Combs, ”, Diddy, Ventura, Combs Cassie Ventura, Ethan Miller, Cassie, Ben Brafman, “ Mr, “, ” Brafman, Dickerson, Neal, Joi Dickerson, drugging, Gardner, Combs Sean, Shareif Ziyadat, Liza Gardner, Aaron Hall, Jane, Guy, Hall, Jane Doe, Harve Pierre, Daddy’s, Doe, Pierre, ” Pierre, Rod, Rodney Jones, videographer, Lil Rod, Jones, ” Jones, Cuba Gooding, Shawn Holley, Gooding, Sean Combs, Gareth Cattermole, Grace O’Marcaigh, Christian Combs, O’Marcaigh, Dyer Organizations: CNN, New York, Authorities, Department of Homeland Security, of, Diddy, Bad Boy Records, Bad Boy Entertainment, Combs Enterprises, Epic Records, Doe Corps, New York Supreme, Syracuse University, MCA Inc, MCA Music Entertainment Group, Geffen Records, Universal Music Group, ABC Corps, ” CNN, Inc, Bad Boy Entertainment Holdings, Plaintiff, Bad Boy Entertainment Holdings Inc, Los Angeles Superior Court Locations: Southern, of New York, New York, Los Angeles

The two companies recently teamed up for the “ABBA Voyage” show in London, in which fans could attend a full concert by the Swedish band — as performed by their digital avatars. He says the band won't be on stage during the virtual performance because “that’s the key thing,” of the future-seeking technology. That’s what you could do with this.”Political Cartoons View All 1277 ImagesIn order to create their digital avatars, who are depicted as a kind of superhero version of the band, Kiss performed in motion capture suits. Aespa, the K-pop girl group, frequently perform alongside their digital avatars — the quartet is meant to be viewed as an octet with digital twins. The band deserves to live on because the band is bigger than we are,” Kiss frontman Paul Stanley said in roundtable interview.

Persons: Paul Stanley, Gene Simmons, Tommy Thayer, Eric Singer —, George Lucas ’, ABBA’s Björn Ulvaeus, —, “, Kiss, Mark Tuan, ”, Tuan, we’ve, Paul Organizations: New York, Kiss, Industrial, Pophouse Entertainment, Machines Locations: New, Madison, London, Swedish

☆ 'Boomerang' CEOs of major companies
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Nov 22 (Reuters) - Sam Altman reached an agreement with OpenAI to return as CEO on Wednesday, after a tumultuous few days following his ouster by the company's board. He joins a list of big name "boomerang" chief executives who have made comebacks at a later date. DELL (DELL.N) - MICHAEL DELLMichael Dell founded Dell Inc in 1980s and held the position of CEO until 2004, when he stepped down to serve as chairman. He returned as CEO in 2007 and led the company through the merger with EMC, which resulted in the emergence of Dell Technologies. He returned as CEO in 2023 amid challenges related to UBS's takeover of peer Credit Suisse.

Persons: Sam Altman, OpenAI, Steve Jobs, John Sculley, DELL, MICHAEL DELL Michael Dell, ROBERT IGER Robert Iger, HOWARD SCHULTZ Howard Schultz, JACK DORSEY Jack Dorsey, Evan Williams, Dorsey, SERGIO ERMOTTI Sergio Ermotti, Ralph Hamers, Boleslaw Lasocki, Victor Goury, Milla Nissi, Jane Merriman Organizations: Apple, Dell Inc, EMC, Dell Technologies . DISNEY, NBA, TWITTER, Twitter, UBS, Suisse, Thomson Locations: U.S, Swiss, Laffont, Gdansk

☆ Blackpink's contract renewal sent YG shares on a wild ride. Why K-pop contracts matter
▼ + stars: | 2023-11-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

(Photo by Emma McIntyre/Getty Images for Coachella)In the oversaturated K-pop music scene, groups come as quickly as they go. Most contract renewals take place without much fanfare — but not for Blackpink, one of the biggest girl groups in the world. When members of the girl group were due to renew their contracts, shares of their label YG Entertainment went on a wild ride. In September, shares of the Kosdaq-listed YG Entertainment plunged on two separate occasions. Shares of YG climbed about 3% on that news.

Persons: Jennie, Jisoo, Lisa, Emma McIntyre Organizations: Coachella, Valley Music, Arts Festival, YG Entertainment, Ilbo, YG Locations: INDIO , CALIFORNIA, Indio , California, Korean

☆ China's Tencent Music beats revenue estimates on paid subscriber growth
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

The logo of China's Tencent Music Entertainment Group is seen next to an earphone in this illustration picture taken March 22, 2021. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsNov 14 (Reuters) - China's Tencent Music Entertainment (1698.HK) beat estimates for third-quarter revenue on Tuesday, helped by steady growth in paid subscriptions on its music streaming platform. Tencent Music, which includes platforms such as QQ Music, Kugou Music, Kuwo Music and WeSing, has won listeners over by bundling everything from karaoke platforms to live concert streaming services. Total revenue of the Tencent Holdings Ltd-controlled (0700.HK) company, however, fell to 6.57 billion yuan ($900.9 million) in the third quarter. Net profit attributable to equity holders of the company rose to 1.71 billion yuan, from 1.06 billion yuan a year earlier.

Persons: Florence Lo, Harshita Mary Varghese, Akash Sriram, Pooja Desai Organizations: Entertainment, REUTERS, HK, Kugou, Tencent Holdings, Thomson Locations: Bengaluru

☆ Dotdash Meredith union members marched on a top exec at the publisher of People, Entertainment Weekly, and more, as their 2-year contract battle heats up
▼ + stars: | 2023-11-09 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

On Wednesday, organizers of the Dotdash Meredith Union took a step to show they're ready to escalate their efforts. Dotdash Meredith sources requested anonymity to speak freely about the status of negotiations and the union's thinking, citing sensitivity over the ongoing talks. Dotdash Meredith spokespersons did not respond to requests for comment. "We've spoken to management across the table and we've appealed to their common sense," a second union source said, adding, "People should see this as us saying, 'We've tried to bargain. The union sources said workers are seeking a provision to prevent the use of AI in generating journalistic content, but the publisher had so far refused to agree to such a clause.

Persons: Dotdash Meredith —, Meredith Union, We're, that's, Dotdash Meredith, —, Meredith, Leah Wyar Romito, Martha Stewart, we've, We've, That's, Wyar, Leah Wyar, we're, Leah, Romito, Neil Vogel, Dotdash, Vogel Organizations: Entertainment, company's Entertainment, Zoom, People, TV, National Labor Relations Board, Dotdash Meredith Union, NLRB, New York Times Locations: Manhattan, Wyar, New York

The idea behind the Ryder Cup task force that was formed after the 2014 matches was to build some continuity among the U.S. teams. He had been an assistant four times in the Presidents Cup and Ryder Cup. The key is to see whom Furyk, the 2018 Ryder Cup captain and now the Presidents Cup captain for 2024 in Montreal, selects as his assistants for next year. Former PGA champion David Toms was overlooked as a Ryder Cup captain, just like another PGA champion, Larry Nelson, was before him. DIVOTSRickie Fowler is one of four Americans to have been on a losing Ryder Cup team in Europe at least four times.

Persons: GUIDONIA MONTECELIO, Luke Donald, Bernard Gallacher, Tiger Woods, Phil Mickelson, LIV, Woods, Ben Hogan, Johnson, Jordan Spieth, Justin Thomas, John Lindert, Don Rea, Seth Waugh, Steve Stricker, Davis Love, Fred Couples, Jim Furyk, Stewart Cink, Marco Simone, Matt Kuchar, David Duval, David Toms, Larry Nelson, Toms, he's, Max Homa, Brooks Koepka, ” Jordan Spieth, “, ” Spieth, Si Woo Kim, Kim, Yubin Jang, Wooyoung Cho, “ I've, Danny Oh, Rory McIlroy, McIlroy, Jon Rahm, Collin Morikawa, Xander Schauffele, Arthur Blank, Steve Cohen, DIVOTS Rickie Fowler, Danny Willett, ”, LIV Golf, Louis Oosthuizen, Ludvig Aberg, Swede, ’, ___ Organizations: — Team, Bethpage, Bethpage Black, U.S, Ryder, PGA, FedEx, BMW PGA, South Korea, Asian Games, South, Games, Asian, Sports, SoFi Technologies, ESPN, Atlanta Falcons, New York Mets, SoFi, Ryder Cup, Dunhill, Sanderson, Texas Tech, PGA Tour University, Indiana, Italian Golf Federation Locations: Italy, Saudi, Adare Manor, Ireland, U.S, Montreal, Paris, Europe, England, France, Wentworth, South, China, Thailand, South Florida, Los Angeles, Atlanta , New York, Boston, Saudi Arabia, Mississippi

☆ Morgan Stanley names the global stocks set to be 'disadvantaged' from rising yields
▼ + stars: | 2023-09-28 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

The U.S. Federal Reserve struck a hawkish tone at its latest meeting and Treasurys have risen to multi-year highs . According to Morgan Stanley, those conditions could put certain stocks in Asian and emerging markets at a disadvantage. "We believe large cap growth stocks, particularly the low quality and unprofitable ones, could come under pressure," they said. More specifically, those set to be "disadvantaged" are high-growth names "with low balance sheet quality" and low free cash flow yield. Morgan Stanley had an underweight rating for Alibaba Health Information Technology , a Chinese integrated pharmaceutical services provider.

Persons: Morgan Stanley, Meituan, Xero, CNBC's Michael Bloom Organizations: U.S . Federal Reserve, Sony, Hong, New, Nio, HK, Alibaba Health, Technology Locations: U.S, Hong Kong, New Zealand

☆ Australia's Star Entertainment to raise $481 million in equity
▼ + stars: | 2023-09-25 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

(Reuters) - Australia’s Star Entertainment Group said on Monday it was raising A$750 million ($481.43 million) via equity placement under its broader refinancing process to improve its funding arrangements and capital structure. ($1 = 1.5579 Australian dollars)

Organizations: Reuters, Australia’s Star Entertainment

☆ Pinault’s Hollywood foray is untimely distraction
▼ + stars: | 2023-09-08 | by ( Pierre Briancon | ) www.reuters.com time to read: +4 min

REUTERS/Charles Platiau Acquire Licensing RightsLONDON, Sept 8 (Reuters Breakingviews) - The story of European business trying to mingle with Hollywood has often led to unhappy endings. The Pinault family, which controls $61 billion luxury group Kering (PRTP.PA), thinks it can buck the trend. Pinault may have overpaid for CAA, especially in the middle of a major strike of Hollywood writers and actors. The transaction, through holding company Artemis, adds Hollywood's premiere talent agency to Pinault’s family empire which spans fashion, wine and contemporary art. CAA was valued at $1.1 billion when TPG acquired a majority stake in 2014, four years after having originally invested in the talent agency.

Persons: Francois, Henri Pinault, Kering, Charles Platiau, Tom Hanks, Steven Spielberg, François, Ari Emanuel’s, Artemis ’, Gucci, Alessandro Michele, Pinault, Jean, Kering’s, Valentino, Brad Pitt, Salma Hayek, Lisa Jucca, Streisand Neto Organizations: REUTERS, Reuters, Hollywood, Universal Studios, Creative Artists Agency, CAA, Gucci, TPG, Endeavor, Thomson Locations: Paris, France, bask

☆ A China fund from Fidelity is beating the crowd. How it plans to keep doing it
▼ + stars: | 2023-09-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Fidelity's China Focus Fund is setting up for another year of outperformance, after ranking first last year among China equity funds tracked by Morningstar. With minimal losses of 0.66% for the year as of Aug. 31, the China Focus Fund has held up far better than the China equity category's decline of 9.45% during that time, according to Morningstar. The China Focus Fund is a "value contrarian strategy," said Catherine Yeung, a Hong Kong-based investment director focused on equities at Fidelity International. Consumer discretionary is the largest sector within the China Focus Fund's holdings, at about one-fourth of the names. Fidelity also has a dedicated China Consumer Fund, which is down by 8.75% year-to-date, only slightly better than its peers, according to Morningstar.

Persons: outperformance, Morningstar, Catherine Yeung, Yeung, hasn't, it's Organizations: Fund, Morningstar, China Focus, China, Fidelity International, CNBC, China Focus Fund, Galaxy Entertainment, Fidelity, China Consumer Fund Locations: China, Hong Kong, expansionary, Macau

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