Paramount Global is trimming its U.S. workforce by 3.5% in a move to cut costs.  The company’s plans to cut jobs were announced Tuesday by its three co-CEOs in a company-wide memo viewed by FOX Business.Co-CEOs George Cheeks, Chris McCarthy and Brian Robbins said in the message that Paramount was "taking the hard, but necessary steps to further streamline our organization this week."     The effort to streamline Paramount’s organization will lead to 3.5% of the company’s U.S. employees losing their jobs, th ...

Group 1 - Warner Bros. Discovery (WBD) will split into two companies, separating its studios and streaming business from its cable TV networks to enhance competitiveness in the streaming market [1][5] - CEO David Zaslav will lead the streaming and studios business post-split, while CFO Gunnar Wiedenfels will oversee the global networks unit, aiming for sharper focus and strategic flexibility [2] - The split is structured as a tax-free transaction expected to be completed by mid-2026, with WBD shares rising by 8% during morning trading [5] Group 2 - The corporate split follows the 2022 merger of WarnerMedia and Discovery and aligns WBD with Comcast's strategy of spinning off cable TV networks [5][6] - WBD has initiated tender offers to restructure its existing debt, supported by a $17.5 billion bridge facility from JPMorgan, with plans to refinance before the separation [9] - The global networks division will retain up to a 20% stake in the streaming and studios business, which it intends to monetize to further reduce debt [9]

The number of job cuts announced in the first five months of 2025 increased 80% from the same period the prior year, according to a new report from Challenger, Gray & Christmas. Employers have announced approximately 696,000 job cuts through May. In 2024, that number was just over 385,000. According to the report, job cuts are only 65,000 away from matching the total for all of 2024."Tariffs, funding cuts, consumer spending, and overall economic pessimism are putting intense pressure on companies’ workforce ...

Core Insights - Walmart is expanding its drone delivery service to three additional states, aiming to compete with Amazon for the fastest delivery service [1] - The partnership with Google's Wing will enable Walmart to launch drone delivery at 100 stores across cities including Atlanta, Charlotte, Houston, Orlando, and Tampa, building on existing operations in Arkansas and Texas [2] - Walmart claims to be the first retailer to scale drone delivery across five states, emphasizing its goal to lead in tech-enabled retail [2] Delivery Service Details - Wing's drones can operate beyond visual line of sight, covering a range of up to 6 miles from the store, with delivery times under 30 minutes [3] - Walmart has conducted over 150,000 drone deliveries since 2021 in collaboration with Wing and Zipline, which initially partnered with Walmart for deliveries in Arkansas [6] - In addition to drone delivery, Walmart has launched other fast delivery options, including Express Delivery, Late-Night Delivery, and InHome Delivery [8] Competitive Landscape - Amazon has also been expanding its drone delivery services, recently deploying them in College Station, Texas, and the West Valley of Phoenix, Arizona [9] - Amazon reported record Prime delivery speeds in early 2024, with over 2 billion items delivered the same or next day to Prime members globally [10]

Procter & Gamble on Thursday said that it will cut up to 7,000 jobs, or 15% of its non-manufacturing workforce, over the next two years as part of a broader restructuring effort. "As always, employee separations will be managed with support and respect, and in line with our principles and values and local laws," P&G said. "Specific impacts by region or site are not available at this time." The two-year restructuring plan comes as consumer goods giants P&G and Unilever brace for muted demand in 2025, stemmin ...

Proctor & Gamble said on Thursday that it will cut up to 7,000 jobs, or 15% of its non-manufacturing workforce, over the next two years as part of a broader restructuring effort. "As always, employee separations will be managed with support and respect, and in line with our principles and values and local laws," P&G said. "Specific impacts by region or site are not available at this time." The two-year restructuring plan comes as consumer goods giants P&G and Unilever brace for muted demand in 2025, stemmin ...

Core Insights - Dollar General is attracting more higher-income households as consumers become more price-sensitive due to economic concerns [1][2][9] - The company reported that new customers are shopping more frequently and spending more per visit compared to last year, with a notable increase in discretionary spending [1][5] - Despite the influx of higher-income customers, the core customer base remains financially constrained, with 60% indicating they may need to sacrifice necessities in the coming year [6] Customer Demographics - The percentage of middle- and higher-income earners shopping at Dollar General has reached its highest level in four years [5] - CEO Todd Vasos expressed optimism about the company's ability to grow its market share among a diverse customer base [5] Market Trends - Economic pressures, including persistent inflation, are driving higher-income households to discount retailers [9] - Retailers are adapting their strategies to appeal to a broader income base, with Dollar General expanding its partnership with DoorDash to enhance delivery convenience for affluent shoppers [9] - Dollar Tree is also targeting higher-income customers by introducing more discretionary items at $3 and $5 price points [9]

Core Viewpoint - Citigroup is revising its policies regarding banking services for retail clients selling firearms and clarifying its stance on political affiliation discrimination, aiming to enhance fair access to banking services amid regulatory scrutiny [1][2][11]. Group 1: Policy Changes - Citigroup is removing its U.S. Commercial Firearms Policy established in 2018, which restricted services to retail clients and partners involved in firearms sales [6]. - The company is updating its employee Code of Conduct and Global Financial Access Policy to explicitly state that it does not discriminate based on political affiliation, similar to its non-discrimination stance on race and religion [9]. Group 2: Regulatory Context - The changes are in response to increasing scrutiny from federal lawmakers regarding allegations of banks denying services to certain industries or political groups, particularly since the return of President Trump [5][11]. - Citigroup's Head of Enterprise Services and Public Affairs emphasized the need to balance fair access to banking products while managing risks appropriately [2][3]. Group 3: Industry Reactions - The banking industry has faced accusations of discrimination, with banks arguing that outdated regulations complicate their ability to provide services or justify denials [5]. - Citigroup expressed hope that communities and lawmakers will continue to seek solutions to prevent gun violence while adhering to best sales practices [8].

Core Points - A federal judge has vacated the trial date for Boeing related to the 737 MAX crashes that resulted in nearly 350 fatalities [1] - The Department of Justice (DOJ) has filed a motion to dismiss the criminal fraud charge against Boeing as part of a non-prosecution agreement [1][4] - Boeing is set to pay $1.1 billion, which includes $445 million allocated to a fund for the families of crash victims [8] Summary by Sections Legal Proceedings - U.S. District Judge Reed O'Connor granted the request from Boeing and the DOJ to vacate the trial date originally scheduled for June 23 in Fort Worth, Texas [1] - The judge must still provide final settlement approval and has the option to reschedule a trial if the deal is not agreed upon [2] Financial Implications - Under the tentative deal, Boeing will pay a total of $1.1 billion, which includes significant compensation for the families affected by the crashes [8] - The DOJ stated that the deal secures meaningful accountability and delivers substantial public benefits [11] Company Commitments - Boeing has expressed its commitment to comply with the obligations under the resolution, which includes additional fines and investments to improve safety systems [8][9] - The company has acknowledged the losses suffered by the families and is committed to honoring their memories through changes in its safety culture [9]

Meta Platforms has entered a deal to purchase nuclear power from Constellation Energy Corporation’s Clinton Clean Energy Center in Illinois.  Constellation announced the deal with the tech giant on Tuesday, saying it "supports the relicensing and continued operations" of the nuclear power plant and Meta’s clean energy goals.  The power purchase agreement starts in 2027 and will span 20 years. NUCLEAR ENERGY UNDERGOING REVIVAL IN UNITED STATES Constellation said the deal will allow its Clinton Clean Energy C ...