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☆ Brookfield’s energy M&A loss is teachable moment
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Dec 4 (Reuters Breakingviews) - Brookfield Asset Management (BAM.TO), has some wounds to lick. On Monday the Canadian investment firm’s joint $13 billion offer with MidOcean Energy for Australian power generator and retailer Origin Energy (ORG.AX)failed after the bidders secured backing from 69% of voted shares, below the required 75% threshold. It could target smaller local energy firms, like Alinta Energy and EnergyAustralia, owned by Hong Kong-based Chow Tai Fook Enterprises and CLP (0002.HK) respectively. Brookfield has made other investments from its $15 billion global transition fund, including to co-buy Westinghouse Electric. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Bruce Flatt, Chow, Brookfield, Antony Currie, Neiman Marcus, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Brookfield Asset Management, MidOcean Energy, Origin Energy, Alinta, Chow Tai Fook Enterprises, CLP, HK, Westinghouse, X, Saks, Thomson Locations: Brookfield, Hong Kong

Her concert picture, “ Renaissance: A Film by Beyoncé,” opened in first place with $21 million in North American ticket sales, according to estimates from AMC Theatres Sunday. The 39-city, 56-show “Renaissance” tour, which kicked off in Stockholm, Sweden in May and ended in Kansas City, Missouri in the fall, made over $500 million and attracted over 2.7 million concertgoers. Toho's 33rd Godzilla film is set in the aftermath of World War II, stars Ryunosuke Kamiki and was directed by Takashi Yamazaki. “Trolls Band Together” landed in fourth place in its third weekend with $7.6 million, bringing its domestic total to $74.8 million. “Renaissance: A Film by Beyoncé,” $21 million.

Persons: Beyoncé, ”, Elizabeth Frank, “, John Woo, Paul Dergarabedian, “ Taylor Swift, it’s, Swift, Miley Cyrus, Justin Bieber, EntTelligence, ” Dergarabedian, Ryunosuke Kamiki, Takashi Yamazaki, Koji Ueda, Ridley Scott’s “ Napoleon ”, Joaquin Phoenix, “ Wonka, Comscore, “ Napoleon Organizations: North, AMC Theatres, AMC, Films, Comscore, Netflix, Swift's, Rotten, Toho International, Toho Global, Apple Original, Sony Pictures Locations: U.S, Canada, Stockholm, Sweden, Kansas City , Missouri, Japan

Even including the sale of Heathrow, this year is the slowest for airport transactions in the past decade, totalling $5.9 billion globally to date, according to Dealogic data. They have hired Mediobanca (MDBI.MI) and Credit Agricole (CAGR.PA) to find a buyer for a sale of their 49% stake in the company, the people said. Heathrow's sale valued the airport at 14.3 times EBITDA, according to JP Morgan analysis published on Wednesday. UK's Esken (ESKN.L), owner of regional Southend Airport, said in June it had started a process for the sale of the airport. On Thursday, Hungary's state-owned Corvinus and Vinci Airports notified the European Commission of a proposed joint takeover of Budapest's airport, according to a document posted on the EU website.

Persons: Andras Kranicz, GIP, Australia's Macquarie, Spain's, Ferrovial, Agata Lyznik, Mediobanca, Gianni, Origoni, Nico Torrisi, Morgan, UK's, France's Vinci, Vinci, Corvinus, Emma, Victoria Farr, Andres Gonzalez, Elisa Anzolin, Joanna Plucinska, Mathieu Rosemain, Anousha Sakoui, Elaine Hardcastle Organizations: LONDON, Heathrow, BNP, Global Infrastructure Partners, AGS Airports, Southampton, Australia's, International, ACI, Airports, Macquarie, Credit Agricole Assurance, 2i, Credit, SAC, Gatwick, Southend Airport, Global Infrastructure Fund, Vinci Airports, European Commission, EU, Thomson Locations: Edinburgh, Italy, FRANKFURT, Spanish, Europe, Aberdeen, Glasgow, Heathrow, France, Hungary's, Budapest's

☆ Amazon’s space dreams deserve to be grounded
▼ + stars: | 2023-12-01 | by ( Robert Cyran | ) www.reuters.com time to read: +4 min

Founder, Chairman, CEO and President of Amazon Jeff Bezos unveils his space company Blue Origin's space exploration lunar lander rocket called Blue Moon during an unveiling event in Washington, U.S., May 9, 2019. REUTERS/Clodagh Kilcoyne - RC153E11B8F0 Acquire Licensing RightsNEW YORK, Oct 16 (Reuters Breakingviews) - Amazon.com’s (AMZN.O) Project Kuiper is a misguided technological marvel. A recent U.S. government report warned that space junk from currently planned networks could start regularly falling back to Earth by 2035. Facing an uncertain payoff and the possibility that its efforts will burn up on reentry, Amazon’s best move is bowing out of a futile space race. The $1.3 trillion technology company plans to eventually launch over 3,200 satellites into low-earth orbit to provide high-speed internet globally.

Persons: Amazon Jeff Bezos, Clodagh, Jeff Bezos, SpaceX’s, Andy Jassy, Bill Gates, SpaceX honcho Elon Musk, OneWeb, Jonathan Guilford, Sharon Lam, Aditya Sriwatsav Organizations: Amazon, REUTERS, Reuters, SpaceX, Reuters Graphics Reuters, Kuiper, Eutelsat Communications, Origin, Thomson Locations: Washington , U.S, Bezos, China

☆ Bob Iger says Disney needs a reality check about box office success
▼ + stars: | 2023-11-30 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

"We got to the point where if a film didn't do a billion dollars in global box office, we were disappointed," he said. Iger also blamed Disney putting quantity before quality for its box office misses. In response to questions about the company's box office misses, the CEO said: "I'm not sure another studio will ever achieve some of the numbers that we achieved." Disney can claim 10 of the 20 highest-grossing films, each of which took more than $1 billion at the box office, per IMDb. However, the film's now made $383 million globally, per Box Office Mojo.

Persons: Bob Iger, Iger, —, That's, Indiana Jones, Bob Chapek, Iger's Organizations: Disney, Service, The New York Times, Summit, Netflix

LOS ANGELES (AP) — It’s her, hi — Taylor Swift is Spotify’s 2023 most-played artist. According to Spotify Wrapped, Swift was 2023's most-streamed artist globally, raking in more than 26.1 billion streams since January 1. It's not such bad news for Bad Bunny, however: his 2022 album “Un Verano Sin Ti” was Spotify's most-streamed album for the second year in a row, raking in 4.5 billion global streams. Political Cartoons View All 1270 ImagesMiley Cyrus' empowerment anthem “Flowers” is Spotify’s most-streamed song of the year with 1.6 million streams globally. “Kill Bill” by SZA is the second most-streamed song of the year, while Harry Styles' “As It Was,” BTS member Jung Kook featuring Latto's “Seven,” and Eslabon Armado and Peso Pluma's “Ella Baila Sola” came in third, fourth and fifth, respectively.

Persons: — It’s, Taylor Swift, Swift, Bunny, Drake, It's, Taylor Swift's, SZA's, ”, Karol G's “, Miley Cyrus, “, Bill ”, SZA, Harry Styles, Jung Kook, Latto's, Armado, Pluma's “ Ella Baila Sola ”, Morgan Wallen, Wallen's, Wallen’s, Luis Fonsi, Yankee, Justin Bieber’s “ Organizations: ANGELES, Spotify, Puerto, Apple Music Locations: He's, Mexican, Será, U.S

☆ ByteDance to wind down Nuverse in full retreat from gaming -sources
▼ + stars: | 2023-11-27 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The ByteDance logo is seen at the company's office building in Shanghai, China, July 4, 2023. The Chinese technology firm has no plan to return to the $185 billion global video games market, said the people, who declined to be identified as the information is not public. Casual gaming brand Ohayoo, whose games feature on Douyin - TikTok's sister app in China - will not be affected, neither will casual games that run on TikTok, one of the people said. ByteDance's 2019 creation of Nuverse was widely seen as a major push into global gaming and a strategic element of its competition with domestic rival Tencent Holdings (0700.HK), the world's biggest gaming company. Nuverse came into focus again in 2021 when ByteDance formalised its status as one of its six business units under a broader structural overhaul.

Persons: Aly, Will, ByteDance, Pico, Nuverse, Josh Ye, Brenda Goh, Christopher Cushing Organizations: REUTERS, Reuters, Moonton Technology, Tencent Holdings, HK, C4games, Thomson Locations: Shanghai, China, HONG KONG

☆ Eutelsat OneWeb gets Indian go-ahead for satellite broadband services
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Nov 21 (Reuters) - Eutelsat (ETL.PA) subsidiary Eutelsat OneWeb said on Tuesday it had won approval from India's space regulator to launch commercial satellite broadband services in the country. Prime Minister Modi's government, which is heading for elections next year, is pushing the development of India's space industry. Investors poured $119 million into Indian space startups in 2022, up from a total of just $38 million in all the years up to 2017. In March, OneWeb partnered with Indian Space Research Organization (ISRO) to launch 36 satellites. Amazon's Project Kuiper (AMZN.O) has also been in talks with regulators to offer satellite broadband services in India, the Economic Times newspaper reported last month.

Persons: Eutelsat OneWeb, Modi's, Sunil Bharti Mittal, Eutelsat, Mittal's, Mittal, OneWeb, Elon Musk's Starlink, Nivedita, Kanjyik Ghosh, Alexander Smith Organizations: Mittal's Bharti Enterprises, Airtel, Indian Space Research Organization, ISRO, Reuters, Ambani's, Economic Times, Thomson Locations: BENGALURU, India, Bengaluru

☆ Disney used to own the Thanksgiving box office. 'Wish' is trying to win it back
▼ + stars: | 2023-11-21 | by ( Sarah Whitten | ) www.cnbc.com time to read: +4 min

However, in the wake of the Covid pandemic, the box office has struggled to regain its foothold on the Thanksgiving holiday. "Thanksgiving films in this movie marketplace must rely more heavily on December moviegoing to determine their ultimate box office fate." Box office analysts often disregard 2020's $21.4 million Thanksgiving haul, as few theaters were open and there were few films to watch. Not to mention, box office expectations have not been particularly accurate this year. Trouble in the Magic Kingdom"Wish" has a lot riding on its opening weekend, as Disney looks to rebound from a slew of box office letdowns.

Persons: Ariana DeBose, Asha, Paul Dergarabedian, moviegoing, Ralph, Coco, TriStar's Eli Roth, Napoleon, Taylor, Shawn Robbins, Mario Organizations: Disney, BoxOffice.com, Mario Bros, Sony

“The Hunger Games: The Ballad of Songbirds & Snakes” topped the North American box office in its first weekend in theaters with $44 million in ticket sales, according to studio estimates Sunday. “The Ballad of Songbirds & Snakes” is an interesting case study for a franchise that’s been dormant for 8 years and is testing the waters for a new era. Its $44 million from 3,776 locations, including 1,610 premium screens, marks a low for films carrying “The Hunger Games” in the title. With an added $54.5 million from 87 international markets, the film has already earned $98.5 million out of the gates. “The Hunger Games: The Ballad of Songbirds & Snakes,” $44 million.

Persons: ”, Jennifer Lawrence, Katniss Everdeen, Tom Blyth, Rachel Zegler, Adam Fogelson, Suzanne Collins, Collins, Coriolanus Snow, Paul Dergarabedian, “, Anna Kendrick, Justin Timberlake, Eli Roth, Patrick Dempsey, Addison Rae, Michael Fassbender, Taika Waititi, Paul Giamatti, “ Priscilla, Sofia Coppola, Disney's, ” Ridley, Napoleon ”, ” Dergarabedian, Comscore, “ Taylor Swift Organizations: American, Lionsgate, Rotten, SAG, Universal, DreamWorks Animation, Marvel, TriStar Pictures, Spyglass Media, Walt Disney Co, Searchlight Pictures, Toronto Film Locations: Germany, Plymouth , Massachusetts

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. The company declined to comment on the plans but news conferences are planned in Alzey, where sources say the plant will be built, and Berlin on Friday. Other people familiar with the plans told Reuters that at least 1,000 jobs would be created. Eli Lilly said it would unveil "far-reaching investment plans" at Friday's news conference, which will be attended by Germany's economy and health ministers. Mounjaro's success helped Lilly post a 37% gain in third-quarter revenues to $9.5 billion, topping Wall Street estimates.

Persons: Eli Lilly, Mike Segar, Mounjaro, TSMC, Lilly's, Lilly, Rene Wagner, Klaus Lauer, Andreas Rinke, Ludwig Burger, Thomas Escritt, Madeline Chambers, Miranda Murray, Christina Fincher Organizations: Company, REUTERS, Basf, Reuters, BASF, U.S ., U.S, Intel, European Union, Novo Nordisk, U.S . Food, Drug Administration, Thomson Locations: Branchburg , New Jersey, BERLIN, Germany, Alzey, Berlin, U.S, Ukraine, European, Indianapolis, Danish, Eisai

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File Photo Acquire Licensing RightsBERLIN, Nov 15 (Reuters) - U.S. pharma company Eli Lilly (LLY.N) plans an investment in the single-digit billion dollar range in a new plant in western Germany, people familiar with the matter told Reuters after the company called a news conference for Friday. Eli Lilly said it would unveil "far-reaching investment plans" at Friday's news conference, which will be attended by Germany's economy and health ministers. Mounjaro's success helped Lilly post a 37% gain in third-quarter revenues to $9.5 billion, topping Wall Street estimates. The group's market value has ballooned to around $580 billion, up more than 65% so far this year.

Persons: Eli Lilly, Mike Segar, Mounjaro, TSMC, Lilly's, Lilly, Rene Wagner, Klaus Lauer, Ludwig Burger, Thomas Escritt, Chizu Nomiyama, Jane Merriman Organizations: Company, REUTERS, Rights, . pharma, Reuters, U.S ., U.S, Intel, European Union, Novo Nordisk, U.S . Food, Drug Administration, Thomson Locations: Branchburg , New Jersey, Germany, Rhineland, Palatinate, U.S, Ukraine, European, Indianapolis, Danish, Eisai

☆ Exclusive: China's Bytedance is talking to likely buyers about gaming unit Moonton's sale
▼ + stars: | 2023-11-15 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

Shanghai-based Moonton, which has developed the popular mobile game “Mobile Legends: Bang Bang”, was acquired by ByteDance in 2021. At the time, it was seen as ByteDance’s biggest commitment to become a major player in the $187 billion global video games market. ByteDance's foray into video games has proven to be rocky so far. Founded in 2014, Moonton found success with multiplayer online battle arena game "Mobile Legends". Last year, ByteDance disbanded its Shanghai-based game development unit 101 Studio.

Persons: Aly, ByteDance, Moonton, Pico, Josh Ye, Muralikumar Anantharaman, Kim Coghill Organizations: REUTERS, ByteDance, Companies, Reuters, Thomson Locations: Shanghai, China, HONG KONG, Saudi, Indonesia, Malaysia, Singapore, Hong Kong

☆ How Disney can save the Marvel Cinematic Universe
▼ + stars: | 2023-11-14 | by ( Sarah Whitten | ) www.cnbc.com time to read: +13 min

CEO Bob Iger suggested as early as March that the company should decrease the number of sequel films Marvel releases in favor of bringing newer characters and stories into the mix. Box office analysts aren't ready to wave the white flag on the MCU, which has left rival DC, owned by Warner Bros. The promise was that the events of the shows would come full circle and influence the content of Marvel's films. Brie Larson stars as Carol Danvers aka Captain Marvel in Disney and Marvel's "The Marvels." It is expected that this Deadpool film will follow carry an R rating, which would be a first for a Marvel Cinematic Universe feature.

Persons: Marvel Studios Kevin Feige, Jesse Grant, Captain America, It's, Marvel, Disney, Bob Iger, aren't, Kevin Feige, Paul Dergarabedian, Elizabeth Olsen, Paul Bettany, Wanda Maximoff, Sam Wilson, Loki, Knight, they've, Robert Thompson, Tony Stark, Steve Rogers, Robbins, Paul Rudd, Scott Lang, Johnathan Majors, Kang the, Kang, Jonathan Majors, Shawn Robbins, Josh Brolin, Chris Evans, Robert Downey Jr, Scarlett Johansson, Strange, Hugh Jackman, Brie Larson, Carol Danvers, Captain Marvel, James Bond, Marvel hasn't, hasn't, it's, America Chavez, Kate Bishop, Kamala Kahn, Cassie Lang, Riri Williams, Ryan Reynolds, Maya Lopez, Wilson Fisk, Lopez, Agatha Organizations: Marvel Studios, Walt Disney Studios, Disney, Getty, Marvel, DC, Warner Bros, Captain, Syracuse University, Guardians, Rotten, CNBC, Disney Marvel, Sony, Hollywood, Star Wars, Star, Young Avengers, Fox, Hulu Locations: ANAHEIM , CALIFORNIA, Anaheim , Calif, California, Shanghai, Quantumania

☆ OneCoin’s Compliance Head Pleads Guilty in $4 Billion Crypto Fraud Case
▼ + stars: | 2023-11-10 | by ( Mengqi Sun | ) www.wsj.com time to read: 1 min

OneCoin, which was started in 2014 in Sofia, Bulgaria, marketed and sold cryptocurrency by the same name. Photo: 360-Berlin/Jens Knappe/Zuma PressAn executive who held the title of compliance head at purported cryptocurrency issuer OneCoin pleaded guilty Thursday to wire fraud and money-laundering charges, the U.S. Justice Department said. Irina Dilkinska, a 42-year-old Bulgarian national, was the so-called “head of legal and compliance” for OneCoin. She pleaded guilty in Manhattan federal court to one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering for her role in what the prosecutors described as a $4 billion global multilevel-marketing scheme. She potentially faces a total of 10 years in prison on the two counts.

Persons: Jens Knappe, OneCoin, Irina Dilkinska Organizations: Zuma Press, U.S . Justice Department, Bulgarian, OneCoin Locations: Sofia, Bulgaria, Berlin, Manhattan

☆ Germany approves global minimum corporate tax
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thilo Schmuelgen Acquire Licensing RightsBERLIN, Nov 10 (Reuters) - The German parliament on Friday approved the implementation of a global minimum corporate tax, as part of an international deal to ensure large companies pay a minimum tax rate of 15%. This will apply to all such companies and large-scale domestic groups with turnover above 750 million euros ($800 million) per year. The law was approved in Germany with the support of all the coalition parties and the main opposition party. The Ministry of Finance estimated earlier this year that additional tax revenue of 910 million euros could be expected in Germany from 2026. In 2027 and 2028, the tax is forecast to bring in 535 and 285 million euros, respectively.

Persons: Thilo, Maria Martinez, Hugh Lawson Organizations: REUTERS, Rights, Economic Cooperation, Development, Google, European Union, EU, Finance, Thomson Locations: Germany, Cologne

☆ China has a sweeping vision to reshape the world — and countries are listening
▼ + stars: | 2023-11-09 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +23 min

All this coincides with longstanding calls from countries across the developing world for an international system where they have more say. Beijing, he added, sees the US as merely “paying lip service” to the “liberal order” to hurt other countries. Sergei Savostyanov/Sputnik/ReutersIn recent years, even some countries that have for decades embraced a close partnership with the US have drawn closer to China and its vision. “Is China really trying to promote multipolarity — or does China just want to (become a) substitute (for) US influence over the world?” he asked. They also raise questions about how a more militarily and economically powerful China would behave globally, if left unchecked.

Persons: Xi Jinping, —, Xi, Vladimir Putin, General Antonio Guterres, ” Xi, , Shen Hong, they’d, ”, Yun Sun, liberalize, Sanjit Das, Shen Dingli, ‘, ’ ”, Russia’s Putin, Bashar al, Assad —, Assad’s, Sergei Savostyanov, Ali Sarwar Naqvi, “ We’ve, James Marape, ’, Rubens Duarte, Li Zhiquan, “, Tong Zhao, Zhao, Ted Aljibe, Luiz Inácio Lula da Silva, Zhang Youxia, Beijing’s, Gilberto Teodoro Jr, BRICS, Weeks, Joe Biden, Sergio Lima, ” — Organizations: Hong Kong CNN, United Nations, Forum, China, Communist, CNN, Beijing, Washington, Getty, Stimson, Bank, World Trade Organization, . Riot, Bloomberg, Initiative, Asian, Global, Sputnik, Reuters, Center for International Strategic Studies, Papua New Guinea, multipolarity, China News Service, Carnegie Endowment, International Peace, Global Security Initiative, NATO, Russia, Philippine Defense, Shanghai Cooperation Organization, United, New, Seven, Ministry, Global Security, Group, UN, Communist Party Locations: China, Hong Kong, Beijing, United States, Ukraine, Gaza, Russian, Xinhua, Washington, South, Taiwan, Tibet, Xinjiang, America, Shanghai, West, Hangzhou, Israel, Pakistan, Pakistani, Islamabad, Papua New, Brazil, Indonesia, Europe, Asia, Scarborough, South China, AFP, Moscow, Russia, “, Saudi Arabia, Iran, Palestine, India, South Africa, Argentina, Egypt, Ethiopia, United Arab Emirates, New Delhi, Southeast Asia, Latin America, Caribbean, ” Beijing

☆ Warner Bros Discovery beats quarterly profit estimates amid strike, sluggish ad market
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

Discovery Atlanta campus is pictured after the Writers Guild of America began their strike against the Alliance of Motion Pictures and Television Producers, in Atlanta, Georgia, U.S. May 2, 2023. The media company forged by the union of WarnerMedia and Discovery posted adjusted core earnings of $2.97 billion, above estimates of $2.92 billion, as per LSEG data. The company had 95.1 million global direct-to-consumer customers at the end of the quarter, down from 95.8 million in the previous quarter. In May, it launched its Max streaming service - combining HBO Max's scripted entertainment with Discovery's reality shows. Reporting by Samrhitha Arunasalam in Bengaluru and Helen Coster in New York; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

Persons: Alyssa Pointer, David Zaslav, Samrhitha, Helen Coster, Saumyadeb Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, REUTERS, Warner Bros Discovery, SAG, HBO, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Bengaluru, New York

☆ Warner Bros. Discovery stock sinks 15% as ad revenue falls, Zaslav warns of 'generational disruption'
▼ + stars: | 2023-11-08 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Discovery shares fell Wednesday after the company reported a decline in advertising revenue, a bigger-than-expected loss and lackluster streaming subscriber numbers. Discovery reported a net loss of $417 million for the third quarter, or 17 cents per share, an improvement from the $2.31 billion loss the company reported in the year-ago quarter, or 95 cents per share. Ad revenue in Warner Bros. The company reported 95.1 million global direct-to-consumer subscribers, a 700,000 decrease from the previous quarter, and less than the analyst projection of 95.4 million subscribers, according to StreetAccount. Discovery also made headway on paying off its debt load, with $2.4 billion of repayments made during the quarter, the company said.

Persons: David Zaslav, Max, Gunnar Wiedenfels Organizations: Warner Bros, Discovery, Roku, Paramount, Disney, Warner Bros . Discovery, HBO Max Locations: U.S

The company reported free cash flow of $2.06 billion, compared with $1.72 billion in the prior quarter. The company posted a net loss of $417 million, narrowing from a $2.3 billion net loss from a year-ago period. Advertising revenue at its networks segment declined 12% to $1.71 billion as global conflicts and inflation created an uncertain climate for marketers. The company's streaming unit posted an adjusted core profit of $111 million, compared with a loss of $634 million a year ago. Warner Bros Discovery had 95.1 million global direct-to-consumer customers at the end of the quarter, down from 95.8 million in the previous quarter.

Persons: Mario Anzuoni, Gunnar Wiedenfels, there's, Wiedenfels, David Zaslav, Michael Schulman, Barbie, Thomas Hayes, Samrhitha, Helen Coster, Saumyadeb Chakrabarty, Anil D'Silva, Mark Porter Organizations: Paramount Pictures Studios, REUTERS, Warner Bros Discovery, SAG, Running, HBO, Thomson Locations: Los Angeles , California, U.S, Bengaluru, New York

☆ Gen Z is the most financially savvy generation
▼ + stars: | 2023-11-06 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +12 min

AdvertisementAdvertisementIn a May survey from the CFA Institute, a global trade association for investment advisors, more than half of Gen Z respondents said they were already investing, and 82% of American Gen Z investors said they began investing before they turned 21. And while there are plenty of pitfalls and missteps that could plague young people along the way, Gen Z is shaping up to be the most financially savvy generation yet. The estimated $60 billion wipeout caused many Gen Z investors to lose big. AdvertisementAdvertisementWhile Gen Z may not always be drawn to the safest investment choices, it's certainly getting some hands-on learning. In many respects, Gen Z is coming of age at a good time, graduating into a booming job market with strong wage growth.

Persons: Gen, Gen Zers, Gen Xers, Zers, It's, —, they'd, stashing, Gen Z, Erin Lowry, Z, there's Venmo, Lowry, Charlie Pastor, finfluencers, Pastor, Taylor Price, Price, it's, I'm, Eve Upton, Clark Organizations: CFA Institute, Federal Reserve's Survey, Consumer Finances, Transamerica Center, Retirement Studies, PayPal, YouTube, CFA, IRA, Interactive, UK Royal Mint, Barclays Smart Investor Locations: Canada, Chipotle, BlackRock

The North American box office had one of its slowest weekends of the year, due in large part to “Dune: Part Two’s” absence from the lineup. 1 movie and it would have been a bigger overall weekend,” said Paul Dergarabedian, the senior media analyst for Comscore. “Taylor Swift: The Eras Tour" took second place, with fourth weekend earnings at an estimated $13.5 million for the AMC release. "The overall box office is rather quiet, but there are so many interesting films out there," Dergarabedian said. “Independent film can really shine right now.”The effects of the ongoing strike at the box office are not easily quantifiable.

Persons: ”, “ Taylor Swift, Sofia Coppola’s “ Priscilla ”, “ Oppenheimer ”, Timothée Chalamet, Zendaya, Swifties, Martin Scorsese's, Alexander Payne's “, “, Paul Dergarabedian, Priscilla, ’, It's, That's, “ Priscilla, Priscilla Presley’s, Elvis, Cailee Spaeny, Jacob Elordi, Paul Giamatti, Eugenio Derbez, ” Dergarabedian, “ He’s, Ryan, David Duchovny, exes, Jackson's, Dergarabedian, haven’t, “ Priscilla ”, Brie Larson, Teyonah Parris, Lashana Lynch, Comscore Organizations: American, Warner Bros, SAG, Comscore, Universal Pictures, AMC, Apple, Paramount, Los Angeles, Marvel, “ Locations: New York, Los, England, Mexican

☆ Taylor Swift's Eras Tour concert film takes its final bow at the box office this weekend
▼ + stars: | 2023-11-03 | by ( Sarah Whitten | ) www.cnbc.com time to read: +1 min

Taylor Swift performs onstage during her The Eras Tour concert at Lumen Field in Seattle, Washington, on July 22, 2023. Taylor Swift takes her final bow at the movie box office this weekend. After a whirlwind four weeks in theaters, the singer's Eras Tour concert film has shattered records and helped the theater industry weather a light release calendar. Heading into its final weekend, the Eras Tour film has collected $150 million in domestic receipts and more than $200 million globally. So far, the Eras Tour film is the highest-grossing domestic and global concert film release of all time, but lags just behind "Michael Jackson's This Is It" concert documentary's global haul of $262.5 million.

Persons: Taylor Swift, Lumen, Read, It's, Shawn Robbins, Michael Jackson's Locations: Seattle , Washington

☆ Morgan Stanley’s new CEO inherits rich pickings
▼ + stars: | 2023-11-02 | by ( John Foley | ) www.reuters.com time to read: +7 min

A good place to start is outside Morgan Stanley’s home market. Morgan Stanley’s two last big acquisitions were chunky, at a combined $20 billion, but also filled niches. E*Trade, an online brokerage, brought millions of households and company employees that Morgan Stanley hadn’t previously served. Eaton Vance, a U.S. asset manager, peddles investment products that Morgan Stanley now funnels through sales teams in far-flung markets. CEO Jane Fraser shows no inclination to sell private banking, which for now sits within the group’s $756 billion global wealth management bucket.

Persons: Ted Pick’s, Morgan Stanley, Pick, James Gorman, Morgan, Gorman, Germany’s, Britain’s, Morgan Stanley’s, Morgan Stanley hadn’t, Eaton Vance, Smith Barney, watchdogs, Jane Fraser, It’s, Noel Quinn’s, Ping, Colm Kelleher, Ted Pick, Peter Thal Larsen, Thomas Shum Organizations: Reuters, Credit Suisse, McKinsey ., Morgan, Reuters Graphics Reuters, Infrastructure, Citi, U.S, HSBC, HK, UBS, Thomson Locations: U.S, American, Asia, Pacific, Japan, India, China, French, Europe, Switzerland, HK, Swiss

[1/2] A smartphone with displayed "Disney" logo is seen on the keyboard in this illustration taken March 24, 2020. Disney said it expected to pay NBCUniversal (NBCU) parent Comcast about $8.61 billion by Dec. 1. Hulu had 48.3 million subscribers at the end of Disney's third quarter, compared with 28 million paid subscribers for Comcast's Peacock streaming service at the end of Comcast's third quarter. Disney+ had 146.1 million global subscribers at the end of Disney's third quarter. If the value is determined to be greater than the guaranteed floor value, Disney will pay NBCU the difference.

Persons: Dado, Walt Disney, Disney, Bob Iger, Goldman Sachs, Brian Roberts, Dawn Chmielewski, Helen Coster, Sriraj Kalluvila, Sayantani Ghosh, Jamie Freed Organizations: REUTERS, ANGELES, Wednesday, Disney, Comcast, Hulu, Goldman, Thomson Locations: Hulu, Burbank , California, U.S, Los Angeles, New York

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