Edgar Bronfman Jr.’s bid for a controlling stake in Paramount Global is sending shockwaves through the industry, as it could potentially keep Shari Redstone closely tied to the company. The offer, if successful, would allow Redstone to remain involved with Paramount as a non-executive chairman, as per sources familiar with the matter. With $6 billion
Business
Boeing’s Starliner capsule, which was intended to return NASA astronauts from the International Space Station, will now be returning empty. This decision came as a surprising announcement from NASA, as it revealed that the astronauts Butch Wilmore and Suni Williams will be returning via SpaceX’s Dragon spacecraft instead. The decision has brought about a significant
The Biden administration announced on Friday that it will resume offering free at-home Covid-19 tests to American households in late September. This decision comes as the virus has gained a stronger foothold in the U.S. this summer, with a significant increase in Covid cases. Americans will soon be able to request four free tests through
The future of Paramount Global hangs in the balance as a competing offer from Edgar Bronfman Jr. threatens to supersede the current merger agreement with Skydance. Initially offering $4.3 billion for Shari Redstone’s National Amusements, Bronfman has now upped the bid to $6 billion in an attempt to acquire a minority stake in Paramount. This
Ford Motor Company recently announced a significant strategic shift in its plans for electric vehicles. The company is delaying production of a next-generation all-electric pickup truck at a new plant in Tennessee and canceling plans for a three-row electric SUV. Instead, Ford will prioritize the development of hybrid models and electric commercial vehicles. Ford’s CFO,
Alaska Airlines recently announced that its plan to acquire Hawaiian Airlines has successfully cleared the U.S. Justice Department. This news comes after the antitrust regulators completed their investigation of the deal without filing a lawsuit to block the acquisition. The $1.9 billion agreement between the two carriers was announced eight months ago, marking a significant
Boeing recently made an announcement that it has decided to halt flight tests for its 777X planes due to the detection of damage in a structure of one of the wide-body aircraft. The damage was found in a custom part located between the engine and the airplane structure during routine maintenance. This prompted the company
The recent revelation by Gilead Sciences regarding a dangerous drug-counterfeiting operation has shed light on the alarming issue of tampering with HIV medications. The scheme, masterminded by Peter Khaim, a twice-convicted medical fraudster, operated out of two New York City pharmacies and involved the improper resale of Gilead medications. This revelation has raised concerns about
Starbucks, a once-beloved coffee chain, is now struggling to keep up with the demands of mobile orders, leaving frustrated customers and overwhelmed baristas in its wake. The incoming CEO, Brian Niccol, faces the daunting task of turning around the struggling giant, with operational issues at the forefront. Investors and executives have highlighted the challenges faced
Byron Allen, the media mogul known for his interest in acquiring various media assets, has been in the spotlight for consistently making late payments to network owners, causing frustration among his media allies. The media group owned by Allen has been reported to be as much as 90 days past due on payments to major