theguardian_business

Paramount concessions lead UK to approve takeover of Warner Bros

📰 source: theguardian_business · 💼 business

the uk culture secretary lisa nandy has cleared paramoun's $110bn takeover of warner bros discovery, dropping her opposition after the company made concessions. nandy had surprised markets in june by referring the deal to regulators, but she has now signed off with conditions: channel 5 stays a public service broadcaster until 2034, channel 5 news keeps editorial independence separate from cbs news and cnn international, and british commissioning roles stay put.

the deal already passed the eu and the uk's competition and markets authority. paramoun's ceo david ellison called the clearances proof the combination will enhance consumer choice and bring stories to worldwide audiences. but a bigger obstacle remains: a us lawsuit by states and writers' guilds, set for trial in march 2027, arguing the merger is anticompetitive. paramoun also faces shareholder payouts that keep accruing until closing.

ellison faces questions about political bias, having denied a pro-trump tilt in a recent essay. cbs news has reportedly dealt with job cuts and interference claims.

why it matters: uk approval clears a major regulatory hurdle for a $110bn media merger, but a us antitrust trial still looms in 2027.

source: theguardian_business
sentiment: +0.40 · impact: 0.70

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects