November 15, 2024
Business - 11/15
🧑‍⚖ī¸ Meta Faces Federal Antitrust Trial, 📈 Disney+ Adds 4.4 Million Subscribers...
🧑‍⚖ī¸ Meta Faces Federal Antitrust Trial Meta is facing a federal trial over claims that its acquisitions of Instagram and WhatsApp were meant to stifle competition, which could lead to a breakup if the FTC wins. 📈 Disney+ Adds 4.4 Million Subscribers Disney+ added 4.4 million subscribers in its fiscal Q4, contributing to a $321 million profit for its streaming division, alongside positive news from its movie business. 📉 Trump's Antitrust Efforts May Continue Antitrust efforts may continue under Trump's administration despite changes, with Vice President-elect JD Vance showing support for breaking up Google. 📜 Ben & Jerry's Sues Unilever Ben & Jerry's has filed a lawsuit against Unilever, alleging the company attempted to silence its support for Palestinian refugees. đŸĨŠ Netflix Tests Live Streaming Capabilities Netflix is testing its live event streaming capabilities with a boxing match between Mike Tyson and Jake Paul, a prelude to planned live NFL game streams. 🚗 Ford Fined $165M for Recall Delays Ford faces a $165 million civil fine for failing to recall defective vehicles promptly, receiving the second-largest fine from the NHTSA. đŸŽĨ Spotify to Pay Video Podcast Creators Spotify plans to pay video podcast creators for high-performing content as it eyes competition with YouTube. ❌ Tapestry and Capri Merger Aborted Tapestry and Capri's $8.5 billion merger was called off following an antitrust lawsuit by the Federal Trade Commission. 📈 Cava Stocks Surge in Fast-Casual Cava is outperforming in the fast-casual segment, leading to significant stock price increases. 🤝 Dimon and Trump Rule Out Partnership Jamie Dimon and Donald Trump have made it clear they will not be collaborating in any business ventures. đŸŽŦ Disney's Iger Rejects More Acquisitions Bob Iger of Disney announced that acquiring more assets is not necessary for navigating the media landscape. 📉 Market Drops After Powell's Comments The S&P 500 and Nasdaq dropped 0.6% as Powell's comments influenced traders' expectations for rate cuts. 🚗 Tesla Shares Fall on Tax Credit News Tesla shares declined on the news that the EV tax credit might be discontinued under the new administration.
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