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But, the announcements, which included a new iPhone 15 and an Apple Watch refresh, further strengthened the company's best-in-class ecosystem. New iPhone features Apple unveiled the iPhone 15 and iPhone 15 Plus, complete with USB-C charging instead of the propriety lightning port, starting at $799 and $899, respectively. The iPhone 15 Pro starting at $999 was unchanged from the previous model as well. The iPhone 15 Pro can capture special videos, providing for enhanced viewing on the upcoming Vision Pro mixed reality headset. The new Apple Watch models have more a powerful silicon chip as well, which allows for smoother graphics and more processing power.

Persons: Jim Cramer, Jim, Max —, Apple, Max, Tim Cook, Jim Cramer's, Apple Tim Cook, Kevin Dietsch Organizations: Apple, Vision, Apple Watch, CNBC, Allen & Company Sun Valley, Getty Locations: Cupertino , California, China, Tuesday's, Sun Valley , Idaho

☆ Insider Today: Big Tech goes on trial
▼ + stars: | 2023-09-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +10 min

Speaking of Big Tech, it's a big day for the industry as the DOJ's antitrust trial against Google starts today. It's also a strategy the Department of Justice argues is "anticompetitive and exclusionary" in a landmark trial for Big Tech kicking off today. The trial is the biggest to hit the tech industry since the government sued Microsoft in the late 1990s. AdvertisementAdvertisementMore broadly, the case is a bellwether for how the government could argue future cases against Big Tech companies in the modern era. Each case is unique, but their focus on monopolistic behavior means the Google trial could set precedents followed by both sides.

Persons: Tayfun, it's, there's, you'll, It's, Hugh Langley, Kent Walker, Hugh, Walker, Chelsea Jia Feng, Henry Farrell, Abraham Newman's, Walter Wriston's, Gil Perez, Jamie Dimon, JPMorgan doesn't, Dimon, Elon, Franz von Holzhausen, Musk, Walter Isaacson, Yossakorn Kaewwannarat, VCs, they're, Nicki Minaj, Shakira, Beyoncé, Karol G, Frances Tiafoe, Austin Krajicek, Mackenzie McDonald, Tommy Paul, Rajeev Ram, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Big Tech, Google, Anadolu Agency, Getty, Department of Justice, DOJ, Microsoft, Apple, Federal Trade Commission, Amazon, Meta, Deutsche, JPMorgan, Street, Workers, Gallup, Startup, MTV, Team, Amtrak Locations: Wall, Silicon, Chelsea, New York City, San Diego, London, New York

☆ Disney, Charter reach distribution deal ahead of 'Monday Night Football'
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

Rival media companies Warner Bros Discovery (WBD.O) and Paramount Global (PARA.O) gained 2.3% and 2%, respectively. That deprived nearly 15 million Spectrum video subscribers of access to the U.S. Open tennis tournament, college football and other programming. Charter pays Disney more than $2.2 billion annually for the right to distribute the media giant's channels to subscribers. Companies like Charter say rising distribution fees are forcing cable companies to increase prices, causing consumers to leave. It wants to keep as many cable subscribers as possible while it prepares to offer ESPN directly to consumers on an app.

Persons: Brendan McDermid, Walt Disney, Robert Iger, Chris Winfrey, Akash Sriram, Maju Samuel Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Charter Communications, ESPN, NFL, Disney, Warner Bros Discovery, Paramount Global, ABC, U.S, Buffalo Bills, New York Jets, Charter, Companies, NBA, Thomson Locations: New York, U.S, New York City, Los Angeles, Bengaluru

Alibaba Group sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. Zhang also handed over the role of group CEO to Wu on Sunday as scheduled. "Alibaba Cloud has lost some ground with government and state-owned enterprise clients, which were previously a stronghold for the company," Li said. "During his leadership tenure, Alibaba Cloud's business did not improve significantly despite his efforts. Zhang likely realised that the challenges facing Alibaba Cloud's lacklustre growth were beyond what he could influence or control as an individual executive."

Persons: Aly, Daniel Zhang, Alibaba, Eddie Wu, Zhang, Wu, Canalys, Li Chengdong, Li, Sern Ling, Union Bancaire Privee, Donny Kowk, Josh Ye, Yelin, Anne Marie Roantree, Brenda Goh, Muralikumar Anantharaman, Christopher Cushing Organizations: Artificial Intelligence, REUTERS, China's, Reuters, DAMO Academy, Huawei Technologies, Union Bancaire, HK, Thomson Locations: Shanghai, China, HONG KONG, Hong Kong, HK, Alibaba, Beijing, Yelin Mo

☆ Citi says favorable setup for this Big Tech stock should send it higher in the next 90 days
▼ + stars: | 2023-09-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

There's a "rich" catalyst path ahead for Microsoft shares, according to Citi. The firm initiated a positive 90-day catalyst watch on Microsoft shares. While the tech giant's stock is up nearly 40% year to date, it has lagged on a relative basis since it issued disappointing quarterly revenue guidance in July. Microsoft shares have declined 5% since, while other shares in its peer group have gained 4.9%. Radke's initial read on fiscal first-quarter earnings is more positive owing to inputs on cloud consumption trends and stabilization in the PC market.

Persons: Tyler Radke, Radke, — CNBC's Michael Bloom Organizations: Microsoft, Citi, CoPilot

☆ JetBlue agrees to sell Spirit assets in Boston, Newark to Allegiant
▼ + stars: | 2023-09-11 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Airplane model is placed on displayed Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21, 2022. REUTERS/Dado Ruvic/Illustrations/File Photo Acquire Licensing RightsSept 11 (Reuters) - JetBlue Airways Corp (JBLU.O) said Monday it had agreed to sell all of Spirit Airlines (SAVE.N) assets at Boston and Newark Liberty airports to Allegiant (ALGT.O), as it works to win approval for its tie-up with Spirit. JetBlue said it had agreed to transfer two gates in Boston, two gates in Newark, and 43 takeoff and landing authorizations in Newark to Allegiant. JetBlue said in July it would not challenge a U.S. judge's May order that it end an alliance with American Airlines. JetBlue argued terminating its alliance with American renders "entirely moot" the government's objections to its deal to buy Spirit.

Persons: Dado Ruvic, Robin Hayes, judge's, David Shepardson, Mehr Bedi, Anil D'Silva, Mark Potter Organizations: Airlines, jetBlue Airways, REUTERS, JetBlue Airways Corp, Spirit Airlines, Newark Liberty, Spirit, JetBlue, Hollywood International Airport, Broward County Aviation Department, The Justice Department, U.S, American Airlines, US Airways, Thomson Locations: Boston, Allegiant, Newark, Fort Lauderdale, Massachusetts, New, LaGuardia, Frontier, U.S, Washington, Bengaluru

☆ Telesat buys SpaceX launches for Lightspeed internet satellites
▼ + stars: | 2023-09-11 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

PARIS – Competitors or not, SpaceX continues to be willing to launch for other satellite internet companies. The agreement covers 14 launches of the Canadian venture's Lightspeed internet satellites. SpaceX has used its rockets to launch communications satellites for companies that compete directly or indirectly with its global Starlink internet network. These deals come as an Amazon shareholder alleges the company snubbed SpaceX for launch contracts of the tech giant's Kuiper internet satellites. Earlier this summer Telesat announced a swap in the manufacturer of its Lightspeed satellites, with Canadian space company MDA taking the place of French-Italian manufacturer Thales Alenia Space.

Persons: Elon Musk's, Dan Goldberg, Goldberg, Jeff Bezos, Glenn, Starlink, Telesat Organizations: PARIS, SpaceX, Elon, Elon Musk's SpaceX, Canadian, Lightspeed, CNBC, Viasat, Glenn, New Glenn, SpaceX's, MDA, Thales Alenia Space Locations: Italian

☆ US stocks end higher but Wall Street closes out losing week amid interest rate concerns
▼ + stars: | 2023-09-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Major indexes ended Friday higher but were down on the week as rate fears persisted. Signs of a tight labor market renewed fears of further interest rate hikes this year. Apple fell 5% during the week on fears of a widening crackdown in China on the use of iPhones. Through the week, the S&P 500 fell 1.26%, the Dow fell 0.53%, and the Nasdaq dropped 2.11%. According to the CME FedWatch Tool, 43.5% of investors are expecting an interest rate hike in November.

Persons: John Williams, Apple Organizations: Apple, Service, Dow, Nasdaq, New York Fed, Here's, Dow Jones Locations: China, Wall, Silicon

☆ From BMW to Porsche: Take a look at the cars on display at one of the world's biggest auto shows
▼ + stars: | 2023-09-08 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +6 min

BMW Vision Neue KlasseBMW revealed the BMW Vision Neue Klasse, a concept electric vehicle that will underpin its foray into battery-powered cars. Mercedes-Benz Vision One ElevenThe Mercedes-Benz Vision One Eleven on display at the IAA Mobility show in Munich, Germany. GTI ConceptThe all-electric Volkswagen ID GTI Concept car on display at the IAA Mobility 2023 show in Munich, Germany. Porsche Mission XThe Porsche Mission X on display at the IAA Mobility 2023 show in Munich, Germany. Lego Lamborghini Sián FKP 37A Lego version of the Lamborghini Sián FKP 37 on display at IAA Mobility 2023 in Munich, Germany.

Persons: Olaf Scholz, Ola Källenius, Mercedes, Sven Hoppe, Arjun Kharpal, Leapmotor, Zhu Jiangming, BYD, Warren Buffett, Kharpal, Lucid, Cyberster Organizations: Management, Mercedes, Benz AG, Getty, Mobility, BMW, Neue, CNBC, Benz, IAA, Leapmotor, Opel, CNBC Stellantis, Air, Volkswagen, IAA Mobility, Porsche, Carrera GT, Shanghai Auto, Lamborghini Locations: Munich, GERMANY, Germany, Xpeng, BYD, Hangzhou, Europe

☆ Goldman Sachs plans fresh round of job cuts for underperformers - FT
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 7 (Reuters) - Goldman Sachs (GS.N) is planning for another round of job cuts for employees who are deemed underperformers, which could come as soon as late October, the Finanical Times reported on Thursday, citing people familiar with the matter. The bank cut 500 employees in September 2022, Reuters had reported earlier, citing sources. Goldman Sachs did not immediately respond to a Reuters request for comment on the report. Reporting by Juby Babu in Bengaluru and Saeed Azhar in New York; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Goldman Sachs, Andrew Kelly, Goldman, Juby Babu, Saeed Azhar, Rashmi Organizations: New York Stock Exchange, REUTERS, Finanical Times, Reuters, Thomson Locations: New York City , New York, U.S, Bengaluru, New York

CEO of Goldman Sachs David Solomon participates in a panel titled "Empowering Women as Entrepreneurs and Leaders" at the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington, U.S., April 13, 2023. Goldman Sachs is shedding its consumer businesses after its foray into retail banking flopped. "I definitely do feel better about the capital markets," Solomon said in the wide-ranging interview. Solomon also said U.S. regulatory proposals for stricter bank capital rules have "gone too far." "I am focused on Goldman Sachs," he said.

Persons: Goldman Sachs David Solomon, Elizabeth Frantz, Goldman Sachs, David Solomon, that's, Solomon's, Solomon, SoftBank, Banks, Saeed Azhar, Lananh Nguyen, Jonathan Oatis, Jamie Freed, Deepa Babington Organizations: World Bank Group, International Monetary Fund, REUTERS, CNBC, T Arm Holdings, Federal Reserve, Thomson Locations: Washington , U.S, U.S

☆ Apple’s Stock Is Having a Rough Week
▼ + stars: | 2023-09-07 | by ( ) www.wsj.com time to read: 1 min

The tech giant's stock finished the day down nearly 3%, marking once of its worst two-day stretches of the year. China has ordered officials at some government agencies not to use iPhones at work, the Journal reported yesterday. Meanwhile, the company is gearing up for an annual promotional event next week. And a new Huawei phone is gaining notice in China.

Organizations: Huawei Locations: China

☆ Australian regulator sues PayPal unit over unfair term in small business contracts
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The PayPal logo is seen at an office building in Berlin, Germany, March 5, 2019. The Australian Securities and Investments Commission (ASIC) said it has started proceedings against PayPal Australia Pty Ltd in a case that highlights a contract term that gives PayPal business account holders 60 days to notify discrepancies in fees charged. The regulator views the term as unfair as it authorises PayPal to retain fees it has inaccurately charged. "We allege this term is unfair because it allows PayPal to escape the consequences of its own errors in overcharging small businesses, and places additional burdens on small businesses to detect and correct charging errors," ASIC Deputy Chair Sarah Court said. As at June 30, there were about 608,275 business account contracts between PayPal and active users in the country.

Persons: Fabrizio Bensch, Sarah Court, Roushni Nair, Poonam Behura, Shailesh Organizations: PayPal, REUTERS, Australian Securities and Investments Commission, PayPal Australia, Reuters, Thomson Locations: Berlin, Germany, Bengaluru

☆ Disney's succession mess: The inside story of Iger and Chapek
▼ + stars: | 2023-09-06 | by ( Alex Sherman | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney's succession mess: The inside story of Iger and ChapekCNBC's Alex Sherman explains the inside story of the C-suite chaos at Disney over the past few years, and what it means for the entertainment giant's future.

Persons: Chapek CNBC's Alex Sherman Organizations: Disney

☆ BlackRock voted against Glencore's climate progress report
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

A specialist trader works at the post where BlackRock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 21, 2022. REUTERS/Brendan McDermid Acquire Licensing RightsCompanies BlackRock Inc FollowGlencore PLC FollowLONDON, Sept 6 (Reuters) - Major Glencore shareholder BlackRock Inc (BLK.N) was among investors to reject the mining giant's (GLEN.L) climate progress report at its annual meeting in May, citing inconsistencies, a voting disclosure page on the asset manager's website shows. BlackRock allows many clients to cast their own votes at companies' annual general meetings. The page also showed BlackRock did not back a shareholder resolution seeking more disclosure on progress in scaling back thermal coal production, which got 29% support, without saying why. But BlackRock in August reported a further decline in its support for shareholder resolutions on environmental and social themes, citing corporate progress on the areas and poorly crafted measures.

Persons: Brendan McDermid, Glencore, company's, Clara Denina, Simon Jessop, Josie Kao Organizations: BlackRock, New York Stock Exchange, REUTERS, BlackRock Inc, BIS, Thomson Locations: New York City, U.S, Paris

“No company is too big to play by the rules, including Google. In November, Google settled with 40 states over the tracking of user location, paying $391 million. Although its app commissions are similar to Apple's, Google has tried to distinguish itself by allowing consumers to download apps from other places than its Play store. Apple, by contrast, doesn't allow iPhone users to install apps from any other outlet than its own store. But the states’ lawsuit took issue with Google’s claim that its Android software is an open operating system that allows consumers more choices.

Persons: Letitia James, “, ”, Peter Shottenfels, Apple Organizations: of Columbia, Google, Epic, Department of Justice, Apple, Facebook, U.S . Justice Department, Inc Locations: Puerto Rico, Utah, Colombia, Northern California, , California

☆ EU lists Alphabet, Amazon, Meta and three other tech giants as 'gatekeepers' under strict competition rules
▼ + stars: | 2023-09-06 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

The logos of Google, Apple, Facebook, Amazon and Microsoft displayed on a mobile phone with an EU flag shown in the background. The European Commission on Wednesday said it designated six tech giants as "gatekeepers" under its new Digital Markets Act — a strict set of rules that could shake up the business models of large digital platforms. Amazon, Alphabet, Apple, Microsoft, Meta and ByteDance will have six months to bring their core platform services into compliance with the obligations laid out in the EU's DMA, the Commission said. The Commission said that it deems Amazon , Apple , Alphabet , Meta , Microsoft and China's ByteDance as "gatekeepers." The EU believes that Microsoft's Bing, Edge and Microsoft Advertising platforms and Apple's iMessage service meet the bar to be considered gatekeepers.

Persons: Microsoft's Bing, Apple's iPadOS Organizations: Apple, Facebook, Microsoft, European Commission, Meta, EU, Edge, Commission, Google, Spotify, Games, Digital, CNBC, Wednesday Locations: EU, Cupertino, Beijing

☆ Wells Fargo says this could be a good long-term buying opportunity for Disney, sees more than 30% upside
▼ + stars: | 2023-09-05 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Investors should look to Disney as an investment for the future, Wells Fargo says. Analyst Steven Cahall maintained his overweight rating on the stock and lowered his price target to $110, a $36 cut. With kids and families comprising two-thirds of core Disney+ subscribers, Cahill thinks the story of Disney+ will now be about its price and margins, not its subscriber growth. The Wells Fargo analyst added that Disney's direct-to-consumer business's longer-term DTC earnings and margins will "emerge as the key reason" to own the stock. Additionally, if ESPN does not transition well to Disney's DTC business, the analyst said that could create a "long-term EPS hole."

Persons: Wells Fargo, Steven Cahall, Cahill, Wells, Michael Bloom Organizations: Disney, DIS, Media, Communications, ABC, ESPN, FX Locations: Hulu

☆ 13 brands, from Coca-Cola to REI, that are pouring money into movies and TV to reach consumers with Hollywood-style storytelling
▼ + stars: | 2023-09-01 | by ( Lucia Moses | ) www.businessinsider.com time to read: +10 min

Mattel's Barbie is just one of many big brands getting serious about making Hollywood-style entertainment. "Barbie" may be the movie of the summer, but lots of other big brands are getting serious about making Hollywood-style entertainment. Brands are also getting more systematic about tracking the projects' outcome so they can justify the cost. Neutrogena: Neutrogena Studios launched in 2021 and is J&J Consumer's first brand-funded content studio to make feature documentaries and scripted shorts. Showtime/PepsiPepsiCo: PepsiCo's Content Studio is led by veteran PepsiCo marketer Lou Arbetter.

Persons: Barbie, Ron Howard, Brian Grazer's, Oscar, Michael Sugar, Brian Newman, REI, Michael Sugar's, Jae Goodman, Lauren Denowitz, Coke, Brian Grazer, Ron Howard's, Selman Careaga, John Deere, Mara Downing, Al Roker, Jill Wilfert, Robbie Brenner, J.J, Abrams, Lena Dunham, Barney, Daniel Kaluuya, J, Sebastian Garcia, Laurie Hernandez, Matt Damon, Ben Affleck's, Entertainment —, Justin Biskin —, Howard, Lou Arbetter, Max, Robert Rodriguez, Nadia Hallgre, Stanley Nelson, Arbetter, It's, Procter, Kimberly Doebereiner, Paolo Mottola, Kyra Sedgwick, Watiti, Saint Laurent, Anthony Vaccarello, Saint, Pedro Almodóvar, Ethan Hawke, Pedro Pascal, it's, Paolo Sorrentino, David Cronenberg, Kelly Mullen, Bryce Dallas Howard, Lena Waithe, WePresent, Holly Fraser, Moses Sumney, Solange Knowles, Riz Ahmed, Aneil, Fraser Organizations: Hollywood, Procter, Gamble, Brands, Unilever, InBev, Waffle Iron Entertainment, draftLine Entertainment, Netflix, Coca Cola, Entertainment, Global, Deere, Warner Bros, Warner Brothers, Universal Studios, Mattel, Neutrogena Studios, Studio, Kerry, Seattle Film, Ghetto Film, HBO Nike, Nike, Waffle, Apple, HBO, Showtime, Pepsi PepsiCo, PepsiCo, Pepsi Super, Pepsi, G Studios, Imagine, Amazon's, Hulu, Paramount, Blue Fox Entertainment, Saint Laurent Productions, Unilever Entertainment, Imagine Entertainment, Monotype Locations: Hollywood, Kerry Washington, American, Cannes, Britain

☆ Salesforce CEO Marc Benioff thanked 'boomerang' employees for the company's turnaround
▼ + stars: | 2023-08-30 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +3 min

CEO Marc Benioff thanked "boomerangs," employees who left and came back, for the fast-tracked growth. Salesforce overachieved its profit margin goals in the second quarter, earlier than planned for — and CEO Marc Benioff says "boomerang" employees played a big part in the results. Three high-profile Salesforce boomerangs have re-joined the company in recent months: president and chief revenue officer Miguel Milano, chief marketing officer Ariel Kelman, and chief business officer and chief of staff to Marc Benioff, Kendall Collins. Collins worked for Salesforce from 2004 to 2012, leaving as executive vice president of Salesforce Cloud. Over the last decade, he has worked in various roles across the tech industry, most recently as chief marketing officer of Okta.

Persons: Marc Benioff, boomerangs, Benioff, Salesforce, It's, Miguel Milano, Ariel Kelman, Kendall Collins, Milano, Celonis, Kelman, Collins, Ellen Thomas Organizations: —, Salesforce International, Oracle, Amazon Web Services, AWS, Salesforce, ethomas Locations: Salesforce

☆ Amazon VP who was previously Uber's CTO has taken a sudden leave of absence less than 2 years into the job
▼ + stars: | 2023-08-29 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

The VP in charge of Amazon's ecommerce technology services has taken a sudden leave of absence. Sukumar Rathnam, an Amazon VP who was formerly Uber's chief technology officer, is taking a sudden leave of absence, Insider has learned. Rathnam was most recently VP of eCommerce services at Amazon, overseeing the retail giant's backend technology. It was his second stint at Amazon, after having spent almost 10 years in a retail VP role previously. Many Amazon employees voiced their opposition to RTO over the past 6 months, both publicly and privately, sparking an internal petition and a public walkout.

Persons: Sukumar Rathnam, Rathnam, Dave Treadwell, Ramesh Manne, Treadwell, Sukumar, Sundeep Jain, Rathnam's, Dave Clark, Jay Carney, Andy Jassy, Jeff Bezos, Brad Glasser, Glasser, Jassy Organizations: Amazon, Amazon's Locations: Amazon's

☆ AI bros are at war over declarations that Google's upcoming Gemini AI model smashes OpenAI's GPT-4
▼ + stars: | 2023-08-29 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

The researchers behind the SemiAnalysis blog say Google's upcoming AI Gemini smashes GPT-4. That might explain OpenAI boss Sam Altman's defensive response to a post published over the weekend titled : "Google Gemini Eats The World – Gemini Smashes GPT-4 By 5X, The GPU-Poors." Gemini is a next-gen, multimodal AI model being worked on by researchers at Google's AI arm DeepMind, and is expected to be released later in 2023. In response, SemiAnalysis' Patel posted on X that he got data on Google's GPU stores from a supplier of Google — rather than Google itself. But to say Gemini Smashes GPT-4 by 5x makes it sound like it is 5x better than GPT-4, it's not, its 5x compute.

Persons: Sam Altman, Sam Altman's, Dylan Patel, Daniel Nishball, Google's, Patel, OpenAI's, Altman, SemiAnalysis, Sundar Pichai, Sundar, G86ZRjnNmS, dtS0Bw3I92 — Dylan Patel, dethrones OAI, it's, ChatGPT Organizations: Google, Hacker

But Indian billionaire Mukesh Ambani snatched IPL rights away in a $2.9 billion bid last year, and then streamed games for free. Soon, Disney subscribers fled - out of 61 million users in October, roughly 21 million had left by July. It retains digital streaming rights but last year licensed the TV broadcast rights to Indian's Zee Entertainment (ZEE.NS) for around $1.5 billion, a source said. In the United States, ad-free Disney+ streaming service subscription rates are set to rise by 27% to $13.99 per month. By contrast in India, Disney+ Hotstar service costs $3.62 a month.

Persons: Anushree, India's Ambani Hotstar, Walt Disney, Disney, Mukesh Ambani, That's, JioCinema, Sivanandan, Daoud Jackson, Bob Iger's, Nancy Lee, Ambani, Aditya Kalra, Munsif, Dawn Chmielewski, Muralikumar Organizations: ICC Men's Cricket, REUTERS, Companies Disney India, Century Fox, Indian Premier League, Disney, Reuters, Asia, Cricket, Indian's Zee Entertainment, IPL, Blume Ventures, Hotstar, Staff, Media Partners, Netflix, JioCinema, Thomson Locations: Gurugram, India, Burbank, Disney India, United States, New Delhi, Bengaluru, Dawn, Los Angeles

☆ Nvidia's stock is the cheapest in 8 months, according to this key market metric
▼ + stars: | 2023-08-29 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Nvidia's earnings beat Wall Street's expectations last week, but that failed to translate into gains for its stock. The chipmaking giant's forward price-to-earnings ratio has dropped to its lowest level since December 2022, according to data from Refinitiv. Forward P/E ratios measure a company's stock price against its expected earnings over the next 12 months, helping investors to assess whether shares are over- or undervalued. Fellow Big Tech companies Apple, Microsoft, and Google parent Alphabet also have forward P/E ratios of around 30, per Refinitiv. But those stellar results didn't translate into significant gains for its share price – leading to its forward P/E ratio falling from 46-times expected earnings to 33-times expected earnings, according to Refinitiv.

Organizations: Service, Nvidia, Big Tech, Apple, Microsoft Locations: Wall, Silicon, Refinitiv

☆ iPhone 14 Pro Max tops global smartphone shipments as people shun budget phones for top-end devices
▼ + stars: | 2023-08-28 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

In the January-to-June period, Apple's iPhone 14 Pro Max shipped 26.5 million units — the most out of any model from any manufacturer — compared with 21 million unit shipments for the iPhone 14 Pro. That's according to Omdia's "Smartphone Model Market Tracker - 2Q23" report, which tracks sales of different models of phone. Apple accounted for all four of the top-shipping models, with the iPhone 14 coming in third on 16.5 million units, and the iPhone 13 selling 15.5 million units. This year, the iPhone 14 Pro Max, the most expensive of the Cupertino, California, tech giant's smartphone array, has taken the crown. Sky-high prices north of $1,000 attached to the top-end phones from companies like Apple, Samsung and Xiaomi have also put people off buying flagship phones more generally.

Persons: Max, That's Organizations: Max, Apple, Samsung Locations: Cupertino , California

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