Media mogul John Malone will step down as chair of Formula 1 owner Liberty Media and Liberty Global , the Financial Times reported on Wednesday, citing two people familiar with the matter. ...

Sanoma Corporation, Stock Exchange Release, 29 October 2025 at 4:00 p.m. EET Sanoma’s Board of Directors has decided the record date and payment date of the third instalment of the dividend for 2024 The Board of Directors of Sanoma Corporation has in its meeting decided the record date and payment date of the third instalment of the dividend for 2024, amounting to EUR 0.13 per share. The third dividend instalment shall be paid to a shareholder who is registered in the shareholders’ register of Sanoma Corpor ...

Paramount Pictures was expected to lay off 1,000 workers this week. (Brian van der Brug / Los Angeles Times) Paramount on Wednesday was expected to cut 1,000 employees, the first wave of a deep staff reduction planned since David Ellison took the helm of the entertainment company in August. People familiar with the matter but not authorized to comment said the layoffs will be felt throughout the company, including at CBS, CBS News, Comedy Central and other cable channels as well as the historic Melrose A ...

Valued at $15.1 billion by market cap, New York-based News Corporation (NWSA) operates as a global media and information services company that creates and distributes content across various platforms, including newspapers, digital media, book publishing, and subscription video services. The media giant is gearing up to report its first-quarter results after the markets close on Thursday, Nov. 6. Ahead of the event, analysts expect NWSA to report an adjusted EPS of $0.18, down a notable 14.3% from $0.21 re ...

LEXINGTON, Ky.--(BUSINESS WIRE)--Viamedia's antitrust case against Comcast will go to trial October 5, 2026, reinforcing the fight for open competition in TV and digital ad markets. ...

Core Insights - Major corporations like Amazon and UPS are undergoing significant layoffs, driven by a shift towards AI-driven automation that is reshaping corporate structures [1] Amazon Job Cuts - Amazon is cutting up to 30,000 jobs, with 14,000 layoffs already confirmed this year [2][3] - The layoffs primarily affect corporate and mid-level management staff, as the company leverages AI technologies to enhance efficiency by automating repetitive tasks [3] - CEO Andy Jassy has linked the workforce reduction to the rapid adoption of AI, with plans to automate 75% of fulfillment processes by 2033, potentially impacting hundreds of thousands of roles over the next decade [4] UPS Job Cuts - UPS has reduced its workforce by 48,000 roles this year, exceeding its initial estimate of 20,000 job cuts, including 14,000 positions from management [5] - These cuts are part of a significant strategic transformation aimed at increasing profitability and streamlining operations in response to declining revenues and market challenges [5] Impact on Management Roles - Companies are finding that AI can easily replace repetitive administrative tasks typically performed by management, leading to the elimination of middle-management roles [6] - While this shift offers cost savings and productivity gains, it raises concerns about the future of white-collar employment and the changing nature of managerial work in the AI era [6] Other Companies Announcing Layoffs - Other companies announcing layoffs include PricewaterhouseCoopers (5,600 cuts), Chegg (45% of workforce), Target (1,800 roles or 8% of corporate team), and Paramount Skydance (2,000 jobs) [7]

Group 1: US-Japan Relations and Rare Earth Deal - The US and Japan signed a framework agreement to secure the supply of rare earth elements, which are critical for technology and defense industries [2][20] - President Trump praised Japan's Prime Minister Sai Takahichi and expressed strong support for Japan's defense spending plans [3][20] - The agreement is seen as a strategic move to counter China's dominance in the rare earth market, where China controls approximately 90% of global supply [24] Group 2: Amazon Layoffs - Amazon announced plans to lay off around 14,000 workers as part of a strategy to streamline operations and reduce managerial layers [5][6] - The layoffs are focused on office roles rather than logistics or shipping positions, reflecting a broader trend in the tech industry towards flattening organizational structures [7][8] - This decision follows reports of Amazon's AI capabilities not meeting expectations, attributed to excessive organizational layers built during pandemic hiring [8] Group 3: PayPal and OpenAI Partnership - PayPal has signed a significant deal to become the first payment wallet integrated within ChatGPT, which is expected to open substantial business opportunities [9][10] - Following the announcement, PayPal's shares surged nearly 14% in pre-market trading, reflecting positive market sentiment [10] Group 4: Earnings Reports and Market Reactions - United Health reported Q3 results that exceeded Wall Street expectations and raised its earnings outlook for the year by $0.25 to at least $16.25 per share [11] - UPS also beat earnings expectations with adjusted EPS of $1.74, leading to a nearly 9% increase in pre-market shares [12] - Royal Caribbean's adjusted earnings guidance for the full year missed analyst estimates, causing shares to drop almost 7% in pre-market trading [13] Group 5: Federal Reserve Meeting - The Federal Reserve began a two-day meeting with expectations of a 25 basis point rate cut to be announced [15][52] - Market analysts suggest that the Fed is in a challenging position due to unclear economic data, with potential for multiple rate cuts through 2026 [17][18] Group 6: Apple and Supplier Developments - Apple is closely watched as it approaches a potential $4 trillion market cap, driven by strong sales of the new iPhone 17 [30][41] - Skywork Solutions is in talks to acquire Corvo for $8 billion, indicating consolidation among suppliers in the tech sector [31] - Foxconn announced a $1.37 billion investment to build a new AI supercomputing center, highlighting the industry's focus on AI advancements [32]

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Group 1 - David Zaslav is pushing back on Paramount's guidance due to expectations of higher financial returns and concerns regarding David Ellison's role as a buyer [1] - David Ellison has increased his offer for Warner Brothers Discovery three times, leading to a significant rise in the company's share price and initiating a potential bidding war [2] - Employees at Warner Brothers Discovery are accustomed to uncertainty surrounding corporate deals, with a history of mergers and layoffs contributing to a divisive internal atmosphere regarding Zaslav's leadership [3][4] Group 2 - The entertainment industry is experiencing a surge in interest, particularly with the return of K-Pop group BTS, which is set to release a new album and embark on a major tour with approximately 65 dates, including over 30 in North America [5][6]

Core Insights - Paramount Skydance is set to implement layoffs, eliminating approximately 1,000 positions, with potential for further cuts totaling 2,000 to 3,000 employees in the future [1][2]. Group 1: Layoff Details - The layoffs are scheduled for Wednesday, as confirmed by sources familiar with the plans [1]. - Paramount's president indicated that the cuts would be "painful" but swift, aiming to avoid quarterly layoffs in the future [2]. Group 2: Cost Savings and Leadership Changes - David Ellison, CEO of Paramount, promised investors $2 billion in cost savings following the merger with Skydance, which was finalized in August [2]. - New leadership has mandated a return to the office five days a week starting in January, offering severance packages to those unwilling to comply [7]. Group 3: Strategic Moves and Future Plans - Since the $8 billion merger, Ellison has made significant investments, including a $7.7 billion deal for UFC rights and hiring key talent from Netflix [8]. - Paramount has made three private offers to acquire Warner Bros. Discovery, which is currently undergoing a spinoff plan [9].