Australia's Westpac Banking Corp said on Friday its first-quarter underlying net profit rose 6% from an average of the previous two quarters, driven by solid growth across customer deposits and loans. ...

Core Viewpoint - Paramount Skydance is considering nominating Matthew Halbower, founder of Pentwater Capital Management, for a board seat at Warner Bros Discovery to challenge its proposed merger with Netflix [1] Group 1: Paramount's Strategy - Paramount is in discussions with Matthew Halbower, who is a significant investor in Warner Bros, to potentially run for a board position [1] - Pentwater Capital is the seventh-largest investor in Warner Bros, holding approximately 50 million shares [1] - Paramount aims to nominate enough directors to gain a majority on Warner Bros' 14-person board [1] Group 2: Investor Sentiment - Halbower has expressed support for Paramount's bid to acquire Warner Bros and has criticized the current board for rejecting the offer without negotiation [1] - He indicated that if the Warner Bros board fulfills its fiduciary duties, there would be no need for him to join the board [1] - Ancora Holdings, another hedge fund, has also expressed disapproval of the Netflix deal and may initiate its own proxy contest [1] Group 3: Financial Offers - Paramount has enhanced its offer to Warner Bros investors by providing an additional $650 million in cash for each quarter the deal is delayed beyond this year [1] - Paramount has agreed to cover a $2.8 billion breakup fee that Warner Bros would owe to Netflix if the deal falls through [1] - Netflix's offer to Warner Bros shareholders stands at $27.75 per share in cash, which is lower than Paramount's improved bid of $30 per share [1]

Core Insights - Eli Lilly has built a pre-launch inventory of its experimental oral weight-loss drug, orforglipron, valued at $1.5 billion ahead of an expected FDA decision in April [1] - This inventory has increased significantly from nearly $550 million reported last year, indicating strong preparation for a potential launch [1] - The company aims to have sufficient supply to launch the drug in multiple countries simultaneously if it receives U.S. approval [1] Company Developments - Eli Lilly's orforglipron has received a fast-track review voucher from the FDA, potentially reducing the review time to one to two months compared to the typical 10 to 12 months for new medicines [1] - The competitive landscape includes Danish rival Novo Nordisk, which recently launched its own weight-loss pill in the U.S., achieving over 26,000 prescriptions in the second week post-launch [1] Financial Implications - The pre-launch inventory is a strategic asset that reflects Eli Lilly's confidence in the drug's approval and market potential [1] - Such inventories are commonly included in financial statements to demonstrate the readiness of drug products prior to regulatory approval [1]

Mercedes-Benz to recall 11,895 vehicles in the US over fire hazard, NHTSA says | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]Item 1 of 2 The Mercedes-Benz logo is seen at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha/File Photo[1/2]The Mercedes-Benz logo is seen at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. REUTERS/Athit Perawongm ...

Group 1 - Venezuela is set to grant more oil drilling blocks to Chevron and Repsol, with the announcement expected as soon as this week [1] - The initiative follows U.S. President Donald Trump's statement that major U.S. companies would invest billions to rebuild Venezuela's oil sector [1] - Chevron and Repsol have not yet responded to requests for comments regarding the new drilling opportunities [1]

Core Insights - JPMorgan Chase has appointed Guy Halamish as Chief Operating Officer to lead the AI strategy across its commercial and investment banking division, reflecting the bank's commitment to modernizing its technology and improving efficiency through AI [1] Group 1: Leadership and Structure - Guy Halamish, an insider, has been appointed as COO to oversee data and AI strategy [1] - The new structure will have chief data and analytics officers for various sectors reporting jointly to Halamish and their respective business heads [1] Group 2: Focus Areas - The revamped team will concentrate on enhancing data quality, strengthening governance, preparing infrastructure for AI agents, and driving end-to-end transformation in areas such as credit and client onboarding [1] Group 3: Industry Context - There is a significant rush among banks and companies on Wall Street to deploy AI technologies, with increased investment pushing firms to modernize quickly and achieve tangible results [1] - JPMorgan has been expanding its data organization since 2023 as part of a broader initiative to maintain a competitive edge over its rivals [1]

Exclusive: Comcast-owned Sky's $2.2 billion ITV deal talks have slowed, sources say | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]Signage is seen on the side of an ITV office building at Media City in Manchester, Britain, May 13, 2024. REUTERS/Phil Noble/File Photo [Purchase Licensing Rights, opens new tab]- Companies- Summary- Comcast's UK investments include a new European theme park near London- The tie-up aims to create a top ...

Group 1 - The European Commission plans to present a strategy in March aimed at deepening the EU's single market, which serves 450 million consumers, to enhance operational ease for companies across the EU [1] - The initiative includes advancing the long-delayed capital markets union, which seeks to utilize approximately €10 trillion in savings currently held in bank accounts for more productive investments [1] - The Commission aims to complete phase one of the Savings and Investment Union, focusing on market integration, supervision, and securitization by June [1] Group 2 - If progress is insufficient among all 27 EU member states, the Commission is open to proceeding with a smaller group of at least 9 member states to expedite the project [1] - Enhanced cooperation will be considered if there is a lack of sufficient progress by the set deadline [1]

Core Viewpoint - The European Commission is investigating Google for potentially anti-competitive practices in its search advertising auctions, specifically regarding the artificial inflation of auction clearing prices to the detriment of advertisers [1]. Group 1: Investigation Details - EU antitrust regulators are focusing on Google's auction practices for search advertisements in Europe [1]. - The investigation is based on indications of concerns about how Google may be manipulating auction prices [1]. Group 2: Implications for Advertisers - The European Commission's findings suggest that advertisers may be adversely affected by Google's practices, leading to higher costs for advertising [1].

Core Viewpoint - Palo Alto Networks chose not to directly attribute a recent cyberespionage campaign to China due to concerns over potential retaliation from Beijing, opting instead to describe the hackers as a "state-aligned group that operates out of Asia" [1][2] Group 1: Company Actions and Decisions - The decision to soften the report's conclusions was made by Palo Alto executives following a software ban imposed by Chinese authorities on the company and other cybersecurity firms [1] - The original draft of the report by Palo Alto's Unit 42 indicated a connection to Beijing, but the final version refrained from naming China directly [1] - Palo Alto's vice president of global communications stated that the lack of attribution was not related to procurement regulations in China, emphasizing the need to inform and protect governments about the hacking campaign [1] Group 2: Cybersecurity Context - The hacking group identified as TGR-STA-1030 was first detected by Palo Alto in early 2025 and is believed to have conducted reconnaissance against nearly every country, successfully breaching government and critical infrastructure organizations in 37 countries [1] - External researchers noted that the hackers' activities align with patterns typically associated with Chinese state-sponsored espionage, suggesting a broader campaign linked to Beijing [1] - The report highlighted specific instances of hacking activity that coincided with diplomatic events, hinting at a strategic focus on countries of interest to China [1]