Core Insights - A new joint sports streaming service is being launched by Warner Bros. Discovery, ESPN, and Fox, with Pete Distad appointed to lead the initiative [1][2] - The service aims to provide a differentiated product for sports fans in the US, moving away from traditional pay TV bundles [2] - The platform will feature games from major sports leagues and top college conferences, available on Max, Hulu, and ESPN+ [2] Company and Industry Summary - Pete Distad, previously a senior vice president at Hulu, will oversee strategy, distribution, marketing, and sales for the new service [1][2] - The collaboration between Warner Bros. Discovery, Fox, and ESPN is intended to leverage their extensive sports content to compete with major players like Amazon and Apple [2] - The anticipated price for the service is expected to be above $40 per month, although the exact cost has not yet been disclosed [2] - The new CEO will report to a board of directors comprising representatives from each of the three companies involved [4] - The venture will establish its offices in Los Angeles, where Distad will be based [5]

The federal government wants to make it legal for McDonald’s franchise owners to use a third-party hacking device to fix chronically broken ice cream machines after the fast-food giant was sued because it didn’t allow them to do so.The Federal Trade Commission and the antitrust unit of the Department of Justice are asking the US Copyright Office to approve an exemption to copyright law that would allow business owners to repair “commercial and industrial equipment.”The feds said that not allowing business o ...

Apple agreed to pay $490 million to settle a class-action lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by concealing falling demand for iPhones in China.A preliminary settlement was filed on Friday with the US District Court in Oakland, Calif., and requires approval by US District Judge Yvonne Gonzalez Rogers.It stemmed from Apple’s unexpected announcement on Jan. 2, 2019 that the iPhone maker would slash its quarterly revenue forecast by up to $9 billion, blaming US-China trade tens ...

JPMorgan Chase has been fined $348.2 million by a pair of US bank regulators over its inadequate program to monitor firm and client trading activities for market misconduct, the Federal Reserve announced Thursday.The Fed fined the bank alongside the Office of the Comptroller of the Currency (OCC), and said the misconduct occurred between 2014 and 2023. In a separate announcement, the OCC said JPMorgan failed to properly monitor billions of trades across at least 30 global trading venues.The Fed fined the ba ...

Citigroup is investigating workplace harassment allegations made by at least one employee against a senior US banker who works on initial public offerings, four people with direct knowledge of the matter said.Edward Ruff, a managing director in Citi’s equity capital markets group in New York, has been on leave since January, according to the people, who requested anonymity to speak freely.The bank is probing at least two instances of alleged abusive behavior by Ruff against several subordinates on the indus ...

A black, deaf Google employee – who had been celebrated at corporate events and on social media as a success story for the search giant’s inclusive workplace – has accused the company of discrimination based on her disability and race.In an explosive lawsuit filed in the US Northern District of California, Jalon Hall — the first and only black, deaf hire at Google, according to Wired — slammed Google for limiting her access to sign-language interpreters months after starting the job. In the complaint, the w ...

JPMorgan Chase CEO Jamie Dimon involved himself in the Disney-Trian Fund Management proxy fight by expressing his support for CEO Bob Iger.Dimon told CNBC on Wednesday that Iger was a “first-class executive and outstanding leader” who “knows the media and entertainment business cold and has the successful track record to prove it.”“It’s a complicated industry filled with creative talent, requiring the unique expertise and engagement skills that Bob possesses,” the bank CEO continued, according to the outlet ...

A Dollar General store in Wisconsin was forced to briefly shut down after its entire workforce quit, citing seven-day work weeks and a “lack of appreciation.”Trina Tribolet, who worked as manager at the Dollar General in Mineral Point for the past year, said that she and the store’s six other employees had been discussing their exit “for months,” according to Spectrum News 1.At the end of their shift on Friday, they finally left — and marked the occasion with a handwritten sign on the door that read, “We qu ...

Boeing is adding weekly compliance checks for every 737 work area and additional audits of equipment to reduce quality problems, the company said in a memo to employees on Tuesday.The memo from Boeing Commercial Airplanes President and CEO Stan Deal following the Federal Aviation Administration’s six-week audit of Boeing’s 737 MAX manufacturing processes that faulted numerous company processes. The FAA has curbed Boeing production following the mid-air panel blowout on a new Alaska Airlines 737 MAX 9 jet on ...

Google is restricting AI chatbot Gemini from answering questions about the global elections set to happen this year, the Alphabet-owned firm said Tuesday, as it looks to avoid potential missteps in the deployment of the technology.The update comes at a time when advancements in generative AI, including image and video generation, have fanned concerns of misinformation and fake news among the public, prompting governments to regulate the technology.When asked about elections such as the upcoming presidential ...