The bid from Edgar Bronfman Jr. for a controlling stake in Paramount Global has the potential to impact the future of the company significantly. The offer, if successful, could involve Shari Redstone, the current non-executive chairman at Paramount, remaining involved with the company. Bronfman’s consortium has raised $6 billion to challenge Skydance Media for ownership
Business
In a surprising turn of events, Cava has announced that it is raising its full-year outlook after reporting strong traffic at its restaurants. The Mediterranean restaurant chain’s quarterly earnings and revenue exceeded expectations, leading to a 7% increase in its stock price during extended trading. This remarkable performance has contributed to a more than doubling
Boeing’s Starliner capsule will be returning from the International Space Station (ISS) without the NASA astronauts it delivered in early June, as announced by the agency. This unexpected decision marks a significant shift in plans, with NASA astronauts Butch Wilmore and Suni Williams now set to return via SpaceX’s Dragon spacecraft. The upcoming mission is
In a much-needed move to curb the rising cases of Covid-19 in the United States, the Biden administration announced its plan to resume offering free at-home Covid-19 tests to American households starting in late September. This initiative comes at a time when the virus has gained a stronger foothold in the U.S. during the summer
The future of Paramount Global hangs in the balance as the special committee announced an extension of the “go shop” period for its merger agreement with Skydance. This move comes in response to a competing offer from Edgar Bronfman Jr. Initially offering $4.3 billion, Bronfman raised more funds and submitted a revised offer of $6
Ford Motor Company recently announced that they will be delaying production of a next-generation all-electric pickup truck at a new plant in Tennessee. In addition to this delay, they have also canceled plans for a three-row electric SUV. Instead, Ford will be prioritizing the development of hybrid models and electric commercial vehicles. The company plans
Alaska Airlines has successfully navigated through a crucial phase in its acquisition of Hawaiian Airlines. The U.S. Justice Department has given the green light for the merger to proceed, marking a significant milestone in the $1.9 billion deal between the two carriers. This development comes after months of anticipation and scrutiny, with the airlines now
Boeing recently announced that it has halted flight tests for its 777X aircraft due to the identification of structural damage in one of the planes. The damage was found in a custom part located between the engine and the airplane’s structure during routine maintenance. As a result, Boeing has grounded the remaining three 777-9 airplanes
Starbucks, a once-beloved coffee giant, is facing significant challenges in the digital age. One of the main concerns is the operational issues that have led to frustrated customers and overwhelmed baristas. With mobile orders accounting for roughly one-third of Starbucks’ total sales, the complexity of these orders has become a major obstacle in the smooth
Gilead Sciences recently made a shocking discovery regarding a dangerous drug-counterfeiting operation that involved tampering with its HIV medications and reselling them to unsuspecting patients. The operation, allegedly orchestrated by a convicted medical fraudster named Peter Khaim, took place in two New York City pharmacies – 71st RX and Best Scripts, located in Queens. This