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☆ Warner Bros. Discovery is laying off workers and making some train their foreign replacements, with about 175 hires planned in Mexico
▼ + stars: | 2023-01-25 | by ( Lucia Moses | ) www.businessinsider.com time to read: +2 min

Warner Bros. Warner Bros. All of Warner Bros. The cuts have varied by business unit: CNN eliminated 400 jobs, or about 10%, while Warner Bros. In 2008, Warner Bros. Entertainment struck a deal with Capgemini to outsource back-office operations.

Catalano's brother, Agostino, was a policeman who died in a 1992 bomb that killed anti-mob magistrate Paolo Borsellino - a attack that prosecutors say Messina Denaro helped mastermind. The last confirmed sighting of Messina Denaro was in 1993, making it difficult for police to identify the most wanted man in Italy. Only one of them decided to collaborate with justice," said Roberto Piscitello, a prosecutor who tried to capture Messina Denaro from 1996 to 2008. FALSE IDENTITYPolice say they managed to catch Messina Denaro after learning from wiretaps of his relatives that he had cancer. BUSINESS CONTACTSMagistrates said they found evidence that Messina Denaro had visited Spain, Greece and Austria over the years.

☆ Kim Kardashian Partners With Italian Actresses From ‘The White Lotus’ for Skims Campaign
▼ + stars: | 2023-01-24 | by ( Joseph Pisani | ) www.wsj.com time to read: 1 min

Kim Kardashian said she hired the actresses to promote a line of Valentine’s Day undergarments. The actresses who played Lucia and Mia, the scheming sex workers from “The White Lotus,” have a new job: modeling for Skims. Kim Kardashian , the co-founder of Skims, said she hired Simona Tabasco and Beatrice Grannò to promote a line of Valentine’s Day undergarments.

☆ Vox Media is in talks to raise $200 million as it considers asset sales and acquisitions
▼ + stars: | 2023-01-24 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +2 min

Private equity giant CVC Capital is discussing a $200 million investment into Vox Media. Vox Media, which owns New York magazine, Recode, The Verge and more, recently laid off more than 100 staffers. Both CVC Capital and Group Black had talks aimed at acquiring the digital media company, according to reports. Vox Media, the digital media venture that houses assets including New York magazine, The Verge, Eater, and SB Nation, is looking to raise around $200 million, according to two people familiar with talks. The sources said they believe Vox Media CEO Jim Bankoff wants to use the money to acquire new assets while also potentially putting some Vox Media properties on the block.

☆ Netflix is thinking about a free streaming service to boost its ads business, insiders say
▼ + stars: | 2023-01-24 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Netflix said it's open to adding a free, ad-supported streaming service. A FAST offering could help Netflix scale its nascent ads business, which has been slow to take off. Could Netflix launch a free, ad-supported service? A FAST channel — free, ad-supported television — is a linear stream, a model media companies are increasingly using to complement traditional TV and paid streaming services. For Netflix, a FAST could be a quick way to scale its ads business.

☆ Kim Kardashian's Skims campaign with 'The White Lotus' breakout stars shows the power of pop culture in marketing
▼ + stars: | 2023-01-24 | by ( Alexandra York | ) www.businessinsider.com time to read: +4 min

Kim Kardashian's shapewear brand, Skims, launched a campaign with stars of "The White Lotus." Watson added that with this campaign, Skims is leveraging characters who are both relatable and aspirational to evoke that perception of the products. Here's why the latest Skims campaign works and what other business owners can learn for their brand marketing, according to Watson. For fans of 'The White Lotus,' we feel this source of pride, like 'here's our friend getting a platform.'" "You're not going to be able to emulate the reach of Kim Kardashian overnight," he said.

☆ U.S. existing home sales lowest since 2010; price growth slows
▼ + stars: | 2023-01-20 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

Existing home sales fell 1.5% to a seasonally adjusted annual rate of 4.02 million units last month, the lowest level since November 2010, the National Association of Realtors said on Friday. Economists polled by Reuters had forecast home sales falling to a rate of 3.96 million units. Home resales, which account for a big chunk of U.S. housing sales, tumbled 34.0% on a year-on-year basis in December. But the worst of housing market rout is probably behind. The 30-year fixed mortgage rate retreated to an average 6.15% this week, the lowest level since mid-September, according to data from mortgage finance agency Freddie Mac.

☆ After laying off scores of workers, Warner Bros. Discovery is rehiring — in Mexico
▼ + stars: | 2023-01-20 | by ( Lucia Moses | ) www.businessinsider.com time to read: +2 min

Warner Bros. Warner Bros. Discovery is shifting some work to Mexico after laying off scores of people in the US post-merger. The cuts have varied by business unit: CNN eliminated 400 jobs, or about 10%, while Warner Bros. In 2008, Warner Bros. Entertainment struck a deal with Capgemini to outsource back-office operations.

☆ Netflix insiders applaud new co-CEO Greg Peters, 'the only real visionary' in the C-suite, but scratch their heads over what other exec changes mean for the company
▼ + stars: | 2023-01-20 | by ( Elaine Low | Lucia Moses | Claire Atkinson | ) www.businessinsider.com time to read: +5 min

Netflix's elevation of Greg Peters to co-CEO shows the importance of its advertising sales effort. But Bela Bajaria's rise to content chief has caused some confusion about the future of the TV and film organization. The Netflix veteran now shares the role with current co-CEO Ted Sarandos, as company cofounder Reed Hastings steps down and settles into an executive chairman position. The move made a lot of sense to industry insiders, and even publicly, Netflix had been signaling the ascension for some time. Netflix insiders said Bajaria's new title underscored the importance of TV versus film in the streaming wars.

Layoffs have been hitting the ad industry as marketers trim spending amid a softening economy. Insider is tracking which ad and marketing companies have laid off staffers, and how many. Layoffs have been hitting the ad industry since early this year as marketers reined in their spending over growing economic concerns. Marketing is typically the first expense companies cut in downturns and times of uncertainty, and the industry's biggest trend forecasters have revised down their estimates for global ad revenue growth next year. Insider is tracking which companies across the ad industry are cutting staff and how many.

☆ Apple is looking for a top sales executive to spearhead a giant advertising push in sports and streaming. Here are 16 execs who could score the job.
▼ + stars: | 2023-01-19 | by ( Claire Atkinson | Lucia Moses | Lara O'Reilly | ) www.businessinsider.com time to read: +15 min

Netflix also conducted a search before hiring two Snap executives, Jeremi Gorman and Peter Naylor, to lead its new ads business. XandrLesser, a longtime digital ad executive, has extensive experience working on issues around the future of digital marketing. McDonald has a ton of other digital ad sales and publishing experience. She helped launch Modi Media, ad buying giant GroupM's addressable TV business, before joining TV adtech startup Cadent. UnivisionValentino runs Disney's digital ad business as EVP, client and brand solutions.

☆ U.S. economy losing momentum as retail sales post biggest drop in 12 months
▼ + stars: | 2023-01-18 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The second straight monthly decrease in retail sales, which are mostly goods, is undercutting production at factories. Retail sales plummeted 1.1% last month, the biggest drop since December 2021. REUTERS/Jeenah Moon 1 2Retail salesMANUFACTURING OUTPUT FALLSExcluding automobiles, gasoline, building materials and food services, retail sales fell 0.7% last month. The weakness in core retail sales is likely to be offset by anticipated gains in services spending. The government reported last week that monthly consumer prices fell for the first time in more than 2-1/2 years in December.

☆ U.S. business inventories rise in November as sales fall
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 18 (Reuters) - U.S. business inventories increased in November as higher interest rates depressed sales, boosting the inventory-to-sales ratio to the highest level in nearly two years. Inventories increased 15.1% on a year-on-year basis in November. Wholesale inventories increased 1.0% in November. Business sales fell 0.8% in November after rising 0.4% in October. At November's sales pace, it would take 1.35 months for businesses to clear shelves.

☆ U.S. producer prices fall more than expected in December
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Jan 18 (Reuters) - U.S. producer prices fell more than expected in December as the costs of energy products and food declined, offering more evidence that inflation was receding. The producer price index for final demand decreased 0.5% last month, the Labor Department said on Wednesday. Data for November was revised lower to show the PPI rising 0.2% instead of 0.3% as previously reported. Goods, which gained 0.1% in November, were pulled down by a 7.9% plunge in energy and a 1.2% drop in food prices. Excluding the volatile food, energy and trade services components, producer prices gained 0.1% in December.

☆ U.S. retail sales drop more than expected in December
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +3 min

The Commerce Department said on Wednesday that retail sales dropped 1.1% last month. Retail sales were also likely hurt by a cold snap in December as well as lower gasoline prices, which impacted on receipts at service stations. Excluding automobiles, gasoline, building materials and food services, retail sales fell 0.7% last month. Data for November was unrevised to show these so-called core retail sales sliding 0.2% as previously reported. Core retail sales correspond most closely with the consumer spending component of gross domestic product.

☆ Netflix with ads got off to a slow start, but the streamer could still win at advertising
▼ + stars: | 2023-01-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Analysts are eagerly anticipating updates on Netflix's ads tier during its 4Q earnings call January 19. Netflix Basic with Ads has gotten off to a slow start, initially missing viewership targets. Subscriptions to the ad tier are expected to grow once the streamer cracks down on password sharing. The stock initially fell 9% on reports that Netflix was letting advertisers take money back after some ad campaigns fell far short of their viewer targets. And Netflix's Basic with Ads was the least popular tier in its first month, according to an Evercore ISI survey.

☆ Factbox: How top Mafia boss Messina Denaro escaped justice for 30 years
▼ + stars: | 2023-01-18 | by ( Alvise Armellini | ) www.reuters.com time to read: +4 min

ROME, Jan 18 (Reuters) - Matteo Messina Denaro, a brutal Sicilian Mafia boss who was Italy's most wanted criminal before his capture on Monday, had been on the run for 30 years. Messina Denaro, 60, was the last runaway member of a generation of mobsters who masterminded a string of bombings and murders that terrorised Italy in the early 1990s. Nobody knows for sure, but there have long been suspicions that Messina Denaro had his back covered by politicians and other establishment connections. Crime writer Roberto Saviano has pointed out that a former junior justice minister, Antonio D'Ali, has been convicted for collusion with the Messina Denaro family. Messina Denaro was eventually caught outside a clinic in Palermo after police discovered he was sick with cancer.

Discovery CEO David Zaslav has assembled a Discovery-heavy leadership team to transform the company. Here are the 20 corporate, creative, and business execs charged with helping him pull it off. Discovery merger, CEO David Zaslav faces massive challenges as he tries to pump out cash to pay down debt while slashing billions in costs. Many of the corporate and business leaders Zaslav has assembled are Discovery execs he's worked with closely for years and who were given bigger roles after the merger. These 20 execs, listed alphabetically, are the power players Zaslav has put in place to help him get there.

☆ Perfumes and fancy clothes found in mafia boss Messina Denaro's hideout
▼ + stars: | 2023-01-17 | by ( Wladimir Pantaleone | ) www.reuters.com time to read: +2 min

[1/5] Carabinieri police stand guard near the hideout of Matteo Messina Denaro, Italy's most wanted mafia boss, after he was arrested, in the Sicilian town of Campobello di Mazara, Italy, January 17, 2023. REUTERS/Antonio ParrinelloPALERMO, Italy, Jan 17 (Reuters) - Perfumes and designer label clothes were found on Tuesday in an apartment which investigators believe was the last hideout of Sicilian mafia boss Matteo Messina Denaro, judicial sources said, a day after the arrest of the 60-year-old fugitive. Messina Denaro was known for his taste for luxury goods, including sun glasses and clothes. Investigators believe Messina Denaro was driven on Monday to Palermo's La Maddalena hospital from Campobello di Mazara to be treated for cancer. Despite his illness, prosecutors said Messina Denaro was fit enough to serve time in prison where he will carry on with his cancer treatment.

☆ New York state manufacturing collapses, monthly survey finds
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Jan 17 (Reuters) - The New York Federal Reserve said on Tuesday its barometer on business activity in New York state fell in January to the lowest level since mid-2020 as orders plunged and employment growth stalled. The regional Fed's "Empire State" index on current business conditions plummeted to -32.9 this month from -11.2 in December. That was lowest level since mid-2020 and the fifth worst reading in the survey's history. A reading below zero signals the New York manufacturing sector is contracting. Inventories rose, while employment growth stalled and the average workweek shortened.

☆ Illness is what ultimately snared Italy's top Mafia fugitive
▼ + stars: | 2023-01-16 | by ( Alvise Armellini | ) www.reuters.com time to read: +3 min

Messina Denaro, 60, was caught just outside a private clinic in Palermo together with an accomplice. Illness "is one of the events in the life of a (fugitive) individual that forces them to come out into the open," Palermo Prosecutor Paolo Guido told a press conference. Officers found a man who looked well-groomed, in apparent good health, with a luxury watch worth 35,000 euros ($37,840). In police pictures, Messina Denaro was seen wearing a brown fur-lined jacket, glasses and a brown and white woolly hat. Meanwhile, Messina Denaro seems set for a life behind bars.

☆ 'Developmentally disabled' woman found three weeks after going missing in New York on subway
▼ + stars: | 2023-01-15 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Mirna-Alsharif-Byline-Jm.Jpg | Mirna Alsharif | ) www.nbcnews.com time to read: +2 min

A 47-year-old "developmentally disabled" woman was found on Saturday three weeks after going missing in New York on the subway in lower Manhattan, officials say. She was also taken to the Queens Hospital Center by a team of New York Fire Department medics and "discharged only a few hours later," according to the consulate general. Primus was finally found in Manhattan on Saturday a little over three weeks after going missing, according to police and the consulate general. It's not clear where Primus stayed in the weeks she was missing. Primus' family did not immediately respond to requests for comment.

☆ Winning lottery ticket for $1.35 billion Mega Millions jackpot was sold in Maine
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 14 (Reuters) - A single winning ticket for a Mega Millions lottery jackpot ofat least $1.35 billion, the second largest jackpot in U.S. history, was sold in Maine, lottery organizers said on Saturday. "Congratulations to the Maine State Lottery, which has just won its first-ever Mega Millions jackpot," Ohio Lottery director Pat McDonald, lead director for the Mega Millions Consortium, said in a statement. "It's the fourth billion-dollar jackpot in Mega Millions history." Most winners go for the lump sum, which comes with a hefty tax bill, according to the Mega Millions website. The winning numbers for the jackpot were 30, 43, 45, 46 and 61, plus the power ball 14.

☆ How Warner Bros. Discovery layoffs, content cuts, and reorganization shocked Hollywood and fired up Wall Street
▼ + stars: | 2023-01-13 | by ( Lucia Moses | Elaine Low | ) www.businessinsider.com time to read: +5 min

David Zaslav has been enjoying a stock runup after Wall Street analysts expressed increased optimism about Warner Bros. Discovery, with much cost-cutting behind it and growth ahead as it plans to launch a new streaming service. AT&T's WarnerMedia merged with Discovery in 2022 in a $43 billion deal, creating a content behemoth combining Warner's HBO, CNN, and famed Warner Bros. film studio with Discovery's lifestyle and reality fare. Read more:A new content strategy that could tarnish crown jewel HBOWBD also looked for savings and revenue by shifting its content strategy ahead of combining HBO Max and Discovery+ into a mega streaming service to launch this spring. WBD shocked entertainment insiders by canceling high-profile projects like "Batgirl" and yanking episodes of shows including "Sesame Street" from HBO Max, and it has made other moves that concerned Hollywood creatives.

☆ U.S. consumer inflation expectations fall in January
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

The University of Michigan Surveys of Consumers said the one-year inflation outlook slipped to a preliminary reading of 4.0% this month from 4.4% in December. Inflation is abating as the Federal Reserve's aggressive interest rate hikes cool demand, and supply chain bottlenecks ease. With inflation subsiding, consumers' spirits are perking up. The University of Michigan's preliminary January reading on the overall index of consumer sentiment came in at 64.6, up from 59.7 in the prior month. Economists polled by Reuters had forecast a preliminary reading of 60.5.

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