WH Smith is being investigated by the City watchdog after the company revealed accounting failures in its US operations.The Financial Conduct Authority (FCA) said: "The investigation concerns potential breaches of UK Listing Principles and Rules and Disclosure and Transparency Rules in relation to the matters announced by WH Smith PLC on 19 November 2025." On that day WH Smith revealed that Carl Cowling, its chief executive of six years who had presided over the sale of the company's UK high street business ...

Core Points - TikTok's Chinese owner, ByteDance, has signed a deal to sell its US arm to American investors, ensuring the platform's continued operation in the United States [1] - The deal is set to close on January 22, 2026, ending years of uncertainty regarding TikTok's future in the US [1] - The sale follows a law signed by President Joe Biden that mandated ByteDance to divest its US operations or face a ban [2][4] Company Structure - The deal involves the sale of just over 80% of TikTok's US assets to three major investors: Oracle, Silver Lake, and MGX, who will form a new venture called TikTok USDS Joint Venture LLC [5][6] - The new venture will be 50% owned by the consortium of US investors, with existing ByteDance investors holding 30.1% and ByteDance retaining 19.9% [6] - A new seven-member majority-American board of directors will be established, and the venture will implement terms to protect American data and national security [6] Data Management - User data from the US will be stored locally, addressing concerns regarding data privacy and security [7]

Core Points - The Oscars will be streamed live on YouTube starting in 2029, ending decades of broadcasting on ABC, making the awards accessible to YouTube's two billion users for free globally [1][3] - The exclusive global rights for the Oscars will be held by YouTube from 2029 to 2033, including all related events such as red-carpet coverage and the Governors Awards [1][2] - The partnership aims to expand access to the Academy's work and inspire a new generation of creativity and film lovers [4][5] Streaming Details - The Oscars will include live coverage, behind-the-scenes content, and will be available in multiple languages with closed captioning [3][7] - Last year's Academy Awards had 19.7 million viewers on ABC, a five-year high, but significantly lower than the peak of 57 million viewers in 1998 [7] Historical Context - ABC has been the primary broadcaster of the Oscars since 1961, with a brief period when NBC aired the show from 1971 to 1975 [8]

Core Viewpoint - Warner Bros is poised to reject a hostile $108 billion takeover bid from Paramount, as one of Paramount's financing partners has withdrawn from the offer, indicating a significant change in investment dynamics [1][2]. Group 1: Takeover Dynamics - The Warner Bros Discovery board is expected to advise shareholders to reject Paramount's bid, which would allow Netflix to proceed with its $72 billion deal [2]. - Paramount's offer includes a cash payment of $30 per share, which is $18 billion more than Netflix's offer, and is made directly to shareholders in a hostile takeover attempt [8]. Group 2: Strategic Implications - The outcome of the takeover battle is crucial for gaining a competitive edge in the streaming wars, with Warner Bros planning to split into two companies to better manage its assets [5]. - If Paramount's bid succeeds, it would consolidate CBS and CNN under the same parent company, further reshaping the media landscape [8]. Group 3: Financial Details - Netflix's agreement is priced at $27.75 per share, totaling $72 billion, with the overall asset value reaching $82.7 billion [6]. - The involvement of significant financial backers, including funds from Saudi Arabia and other Middle Eastern countries, highlights the international stakes in this acquisition [1]. Group 4: Regulatory Considerations - The final decision on the takeover will involve scrutiny from the U.S. Department of Justice's Antitrust Division, which oversees business deals to ensure fair competition [11].

Core Insights - The introduction of LED lighting in greenhouses in West Sussex allows for year-round strawberry production, reducing reliance on imported fruits [1][2] - The operation supports local employment, providing year-round work for 50 individuals [5] - The UK currently has low self-sufficiency levels in fruit and vegetables, with only 16% of fruit and approximately 50% of vegetables being domestically grown [7] Group 1: Technology and Production - LED lighting is crucial for successful strawberry growth, enabling energy absorption even on non-sunny days, resulting in optimal sweetness, shape, and size of the berries [2] - The greenhouses cover 36,000 square meters and are partially powered by renewable energy, enhancing sustainability [2] Group 2: Environmental Impact - While the new greenhouse technology reduces food miles, it still has an environmental impact due to the energy required to maintain warm growing conditions in winter [5][6] - The need for significant heat and light to replicate summer conditions raises concerns about the energy sources used [6] Group 3: Market and Consumption - An estimated 1.5 million punnets of strawberries are expected to be harvested during the winter season, allowing for British strawberries to be available during Christmas [9] - There is a cultural sentiment that strawberries should be consumed in summer, despite the benefits of local winter production [9]

OpenAI has signed its first major licensing deal to bring well-known characters to life on its Sora video generation tool.The company said the agreement with Walt Disney was part of a push to ensure the rights of creators in the generative artificial intelligence (AI) space amid growing concerns over copyright, fakes and misinformation. It forms part of a $1bn Disney investment in OpenAI, that will see the entertainment firm roll out ChatGPT to its staff and grow its AI capabilities.Money latest: Urgent war ...

Core Insights - The US Federal Reserve has indicated a pause in interest rate cuts, with only one rate cut expected in 2026, amidst pressures from high inflation and a weak job market [1][3][6] - The Fed's key interest rate has been reduced to approximately 3.6%, a near three-year low, despite dissenting votes advocating for no changes [2][6] - Economic growth in the US is anticipated to improve, with a projected jobless rate decline and inflation expected to decrease to 2.4% by the end of next year [3][4] Federal Reserve's Position - The Fed is cautious about future rate cuts due to the potential impact of trade tariffs on inflation and the overall economy [4][6] - Fed Chair Jay Powell noted that the current policy rate is within a neutral range, allowing the Fed to monitor economic developments before making further changes [6][12] Political Influence and Market Reactions - There is concern regarding the potential political influence on the Fed, especially with President Trump's efforts to appoint supporters of rapid interest rate reductions [7][9] - The upcoming succession of Fed Chair Powell has led to market uncertainty, with fears that a new chair could undermine the Fed's current guidance [9][12] - Market reactions have shown little movement in the dollar and US bond yields following the Fed's decisions, indicating a cautious outlook among investors [10][13]

Core Viewpoint - A significant takeover in the entertainment industry is unfolding, with Netflix and Paramount competing for Warner Bros Discovery (WBD), which has led to a bidding war that could reshape the media landscape [1][2]. Group 1: Bids and Offers - Netflix has proposed a $72 billion deal for WBD's film and TV studios, which includes rights to major franchises like Harry Potter and Game of Thrones [6]. - Paramount has countered with a $108.4 billion bid, which is characterized as a hostile offer directly to WBD's shareholders, proposing $30 per share compared to Netflix's $27.75 [9][10]. - The bids come amid WBD's plans to split into two companies, with the first division focusing on film and TV, while the second will handle legacy TV channels [4][5]. Group 2: Strategic Context - WBD's decision to explore a sale follows its struggles with an estimated $35 billion in debt and the challenges posed by the rise of streaming services [5]. - The split into two companies is intended to provide sharper focus and strategic flexibility to compete in the evolving media landscape [5]. Group 3: Political and Regulatory Concerns - The U.S. government, particularly the Department of Justice's Antitrust Division, is expected to scrutinize the deal due to concerns over potential monopolization in the streaming market [12][13]. - Politicians from both parties have expressed worries that a merger could lead to higher subscription prices and fewer choices for consumers [14][15]. Group 4: Next Steps - WBD must inform shareholders by December 22 whether Paramount's offer is superior, allowing Netflix the chance to match or exceed it [24]. - A termination fee of $2.8 billion would be payable to Netflix if WBD opts to pursue Paramount's offer [24].

Core Viewpoint - Vertical Aerospace is planning to introduce electric flying taxis, specifically the Valo aircraft, in the UK, aiming for commercial flights by 2028, with the potential to offer services at costs comparable to Uber rides [1][2][6]. Group 1: Company Overview - Vertical Aerospace is developing the Valo aircraft, which can carry up to six passengers and is designed for speeds of up to 150 mph [1][4]. - The aircraft is expected to initially serve as a premium product for airport transfers, with plans to become more affordable as production scales up [6][9]. Group 2: Industry Context - The UK government’s Future of Flight Action Plan suggests the possibility of pilotless flying taxi drones operating by 2030, indicating a broader trend towards innovative air transport solutions [3]. - Other cities, such as New York, are also exploring electric air taxi services, with plans to implement them by 2025/26 [3]. Group 3: Operational Details - The Valo aircraft will initially operate routes between London’s Canary Wharf and major airports like Gatwick and Heathrow, as well as other destinations [4]. - The aircraft is designed to be clean, quiet, and efficient, with a range of up to 100 miles [4][6].

Core Insights - Bolt Insight, a consumer insight platform, has raised £7 million in funding to support its expansion, with Pembroke VCT leading the round [1][2] - The platform utilizes AI-enabled workflows combined with human researchers to conduct qualitative studies rapidly, allowing real-time consumer engagement [2] - The company aims to enhance its global presence in a market valued at approximately $153 billion [4] Company Overview - Bolt Insight was co-founded by Hakan Yurdakul, a former Unilever executive with 14 years of experience in brand strategy, and Kerem Turgay, the chief technology officer [3] - The company has conducted interviews with over 5 million consumers and collaborated with more than 150 brands to date [3] Funding Details - The funding round included participation from investors such as 212, Active Partners, Velocity, and TIBAS Ventures [2] - Pembroke VCT contributed half of the total capital raised in this funding round [1] Market Position - The funding will be directed towards expanding BoltChatAI, reinforcing the company's position in the global insights market [4] - The CEO of Pembroke Investment Managers highlighted Bolt Insight as a prime example of how AI can transform traditional industries by integrating consumer feedback into decision-making processes [6]