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Paramount efforts to buy Warner Bros Discovery play out in background of latest CBS News drama
Fox Business· 2025-12-23 22:36
Core Viewpoint - The article discusses the controversy surrounding CBS News' decision to delay a "60 Minutes" segment about the Trump administration's deportation of Venezuelan migrants, raising questions about potential corporate influence and political motivations behind the move [1][6][12]. Group 1: CBS News and "60 Minutes" - CBS News delayed the airing of a "60 Minutes" segment that had already been promoted, leading to accusations of corporate censorship and political interference [3][6]. - Correspondent Sharyn Alfonsi criticized the decision, suggesting it was politically motivated and detrimental to journalistic integrity [6][19]. - CBS News editor-in-chief, Weiss, stated that the segment was not ready for air and called for more reporting, emphasizing the need for respectful disagreement among colleagues [7][20]. Group 2: Paramount and Warner Bros. Discovery - Paramount, backed by the Ellison family, has made a hostile bid of $108 billion for Warner Bros. Discovery, which is currently negotiating a deal to sell its assets to Netflix [2][10]. - The Ellisons are reportedly seeking favorable treatment from the Trump administration to facilitate their acquisition of Warner Bros. Discovery, potentially using antitrust power to block Netflix's deal [9][15]. - The Ellisons' connections to Trump and their recent acquisition of Paramount have raised concerns about the consolidation of media power and the influence of corporate interests on news coverage [10][12][15]. Group 3: Political and Corporate Dynamics - Reports suggest that Weiss' actions may be linked to the Ellisons' agenda to promote their business interests and right-wing ideology, with implications for media concentration [13][15]. - The article highlights a previous settlement between CBS News and Trump over an election interference lawsuit, which critics viewed as a means to secure corporate interests [17]. - There is ongoing scrutiny of Weiss' editorial decisions, with some defending her approach as reasonable while others question the motivations behind the delay [19][20].
US economy grew much faster than expected in the third quarter, delayed report shows
Fox Business· 2025-12-23 17:05
Economic Growth - The U.S. economy grew at an annualized rate of 4.3% in the third quarter, surpassing economists' expectations of 3.3% [1] - Real GDP rose at an annualized rate of 3.8% in the second quarter, following a contraction of 0.6% in the first quarter, indicating a 2.5% annualized growth rate for the first three quarters of 2025 [2] GDP Components - The increase in real GDP in the third quarter was driven by higher consumer spending, exports, and government spending, although this was partially offset by a decrease in investment [5] - Real final sales to private domestic purchasers rose by 3% in the third quarter, slightly above the 2.9% increase in the second quarter [8] Inflation Metrics - The price index for gross domestic purchases increased by 3.4% in the third quarter, up from a 2% increase in the second quarter [9] - The personal consumption expenditures (PCE) index rose by 2.8% in the third quarter, compared to a 2.1% increase in the prior quarter [9] Future Estimates - The third-quarter GDP figure is subject to revision, with the final estimate scheduled for release on January 22 [12][14]
Elon Musk takes dig at Waymo after San Francisco blackout
Fox Business· 2025-12-22 16:10
Core Viewpoint - Tesla's CEO Elon Musk criticized Waymo's self-driving cars for causing traffic jams during a power outage in San Francisco, highlighting Tesla's resilience during the incident [1][3]. Group 1: Incident Overview - Waymo temporarily halted its autonomous ride-hailing service in the San Francisco Bay Area due to a massive power outage affecting approximately 130,000 homes and businesses [2][12]. - The power outage was partly caused by a fire at a Pacific Gas and Electric Co. substation, leading to significant disruptions in the area [12][13]. - As of Sunday morning, about 110,000 customers had their electricity restored, leaving around 21,000 still without power [15]. Group 2: Company Responses - A Waymo spokesperson stated that the company is committed to improving its technology to better handle traffic flow during such outages [5][10]. - Waymo's autonomous driving technology is designed to treat non-functional traffic signals as four-way stops, but the scale of the outage led to longer-than-usual stops for their vehicles [7][8]. - Tesla's self-driving cars reportedly navigated intersections without issues during the power outage, as highlighted by Musk [3][4]. Group 3: Market Impact - Following the incident, Tesla's stock was reported at $481.20, reflecting a decrease of 0.45%, while Alphabet Inc.'s stocks showed slight increases [10].
Top Trump economist calls new inflation data ‘blockbuster,' says economy mirrors first term gains
Fox Business· 2025-12-20 14:16
Core Insights - The consumer price index (CPI) report indicated that inflation rose less than expected, with a 0.2% increase over the two months from September to November and a year-over-year increase of 2.7% [8] - Core inflation, averaged over the past three months and annualized, is reported at 1.6%, reflecting the effectiveness of the Trump administration's policies to enhance aggregate supply and lower prices [4][7] - The CPI report was praised as "astonishingly good," with comparisons drawn to previous economic conditions during Trump's first term, where growth and inflation were similarly favorable [7] Economic Performance - The Bureau of Labor Statistics reported that core prices, excluding volatile items like gasoline and food, rose by 0.3% month-over-month and 2.6% year-over-year, aligning with economists' expectations [9] - Despite the positive CPI report, consumers are still experiencing price increases, particularly in food, which rose by 2.6% compared to the previous year, along with higher costs in energy, transportation, and housing [10] Job Market - The U.S. added 64,000 jobs in November following a loss of 105,000 jobs in October, indicating a recovery in the job market [5]
Fed's Goolsbee says rates ‘could come down' if economy stays on ‘golden path'
Fox Business· 2025-12-19 17:11
Core Viewpoint - The Federal Reserve Bank of Chicago President Austan Goolsbee indicated that the potential for further interest rate cuts could arise if economic indicators continue on their current positive trajectories, particularly regarding inflation data [1][2]. Economic Indicators - Goolsbee highlighted the positive aspects of the recent Consumer Price Index (CPI) report, noting a 0.2% increase over two months from September to November and a year-over-year rise of 2.7%, which was below economists' expectations of a 0.3% monthly increase and a 3.1% year-over-year rise [2][4]. - The CPI report reflects a delayed reporting window due to a recent government shutdown, which did not include the standard one-month change from October to November [2]. Interest Rate Decisions - The Federal Reserve recently announced its third interest rate cut of the year, reducing the benchmark federal funds rate by 25 basis points to a range of 3.5% to 3.75%, following similar cuts in September and October [4]. - Goolsbee expressed discomfort with preemptively front-loading rate cuts before confirming a return to the 2% inflation target, suggesting that rates could be lowered significantly if full employment and stable inflation are achieved [5][8]. Labor Market Concerns - In response to concerns about the U.S. job market and rising unemployment rates, Goolsbee noted that most job market measures, aside from payroll employment, have shown steady but mild cooling [6][7]. - He emphasized the need for assurance that inflationary spikes are transitory and not indicative of a longer-term trend before considering further rate reductions [8].
Americans surge toward financial resolutions for 2026 amid household budget concerns
Fox Business· 2025-12-19 17:07
Core Insights - A growing number of Americans are considering financial resolutions for the new year, with 64% indicating this intention, up from 56% last year [1] - The top three financial resolutions remain consistent: 44% aim to save more money, 36% want to pay down debt, and 30% plan to spend less [2] Financial Sentiment - 55% of respondents feel overwhelmed by personal finances, with Millennials (68%) and Gen Z (64%) feeling the most pressure [5] - Financial stress is prevalent, with 35% worried about saving for goals after bills, 34% about paying monthly bills, and 30% about healthcare costs in retirement [6] Financial Setbacks - Nearly three-quarters of Americans faced a financial setback last year, with 20% reporting an unexpected non-health emergency [6] - In 2025, 72% experienced some type of financial setback, and 33% feel they have significantly less money due to rising prices [9] Optimism and Improvement - Despite financial challenges, 70% of Americans feel they are in a better or similar financial situation compared to last year [9] - 43% of respondents feel better about their finances than five years ago, an increase from 36% last year [10] Short-term Savings Focus - There is a notable prioritization of short-term savings goals, with 25% wanting to build an emergency fund and 23% aiming to adhere to a spending budget [15] - The trend towards short-term savings is attributed to recent market volatility and the need to dip into savings [14]
Gas prices hit cheapest December levels in 4 years as holiday travelers hit the road nationwide
Fox Business· 2025-12-19 17:07
Core Insights - Gas prices have decreased to an average of $2.89 per gallon, marking the lowest December prices since 2020, despite increased demand due to holiday travel [1][2] Gas Prices Overview - The national average for regular gasoline fell more than 4 cents last week to $2.89 [1] - AAA described the year as "stable" for gas prices, with no significant spikes [2] Crude Oil Supply and Prices - The drop in gas prices is attributed to a significant oversupply of crude oil, with prices falling below $60 per barrel [3] - West Texas Intermediate (WTI) crude oil is trading around $56.55 per barrel, while Brent Crude is near $59.82 per barrel [4] State-Specific Gas Prices - The states with the cheapest gas prices include: - Oklahoma: $2.34 - Arkansas: $2.46 - Iowa: $2.47 - Colorado: $2.49 - Wisconsin: $2.51 [5] - The states with the highest prices include: - Hawaii: $4.43 - California: $4.33 - Washington: $3.96 - Alaska: $3.59 - Oregon: $3.57 [5] Future Projections - EIA's November Short-Term Energy Outlook predicts Brent Crude prices will decline from $69 per barrel in 2025 to $55 per barrel next year, with retail gas prices expected to hover around $3 per gallon in 2026 [14]
Trump economist predicts ‘biggest refund cycle ever,' massive checks ahead
Fox Business· 2025-12-19 14:51
Economic Outlook - The administration anticipates the largest tax refund cycle in U.S. history, with significant refund checks expected for many Americans [1][2] - Families are projected to save between $11,000 and $20,000 annually due to tax changes [2] Wage Growth and Inflation - Real wages for typical workers are reportedly growing at a rate of about 2% to 2.5%, with a 3.7% increase in wages against a 1.6% core inflation rate [4] - Blue-collar workers have seen an estimated raise of nearly $2,000 this year after accounting for inflation [4] Economic Sentiment - Despite concerns from the public, with 44% feeling financially strained and 74% rating the economy poorly, the administration maintains a positive outlook on economic growth [4] - The administration's strategy focuses on increasing aggregate supply to exert downward pressure on prices, similar to trends observed during Trump's first term [6]
DoorDash unveils ChatGPT grocery app one week after Instacart debut
Fox Business· 2025-12-19 00:41
Core Insights - DoorDash is launching a grocery shopping app integrated within OpenAI's ChatGPT platform, following a similar initiative by Instacart [1][6] - The integration aims to connect ChatGPT's recipe suggestions with DoorDash's grocery network, enabling customers to convert meal ideas into grocery orders for delivery in as little as one hour [1][3] - The partnership is part of DoorDash's broader strategy to enhance AI usage in shopping, making the process more dynamic and personalized for consumers [2][3] Company Strategy - DoorDash co-founder Andy Fang emphasized that the partnership will streamline meal planning and shopping, enhancing the user experience through AI [2][3] - The company aims to expand AI tools across various shopping categories, focusing on saving time and simplifying local shopping [3][6] User Experience - The integration allows ChatGPT to customize recipes based on user preferences, generating a grocery list that can be ordered through the DoorDash app [3][4] - The app is currently available for select users on ChatGPT, with plans for expansion to iOS, Android, desktop, and mobile web in the coming weeks [9]
Southwest offering $67 flights in nod to viral internet meme: 'Trendy' sale
Fox Business· 2025-12-19 00:31
Group 1 - Southwest Airlines is launching a promotional sale offering $67 economy tickets on select domestic flights, referred to as the "Trendiest. Sale. Ever." This promotion is inspired by a viral internet meme popular among Gen Alpha [1][2] - The meme "6-7" gained popularity from the song "Doot Doot (6 7)" by rapper Jamille Edwards, also known as Skrilla, which went viral on social media [2] - The sale is available for travel on Tuesdays and Wednesdays between January 6 and March 4, 2026, with specific terms and conditions including a 21-day advance purchase requirement [5][6] Group 2 - The promotional tickets are for one-way Basic fares, which are nonchangeable and nonrefundable, and do not include checked bag fees [11][12] - The airline's assigned seating policy will be implemented on January 27, 2026, which may affect customer experiences during the sale period [8] - The meme "6-7" was also recognized as Dictionary.com's word of the year, reflecting its cultural significance [10]