Warner Bros rejects Paramount bid, sticks with Netflix, says terms of Netflix merger were better
Warner Bros. Discovery on Wednesday rejected a hostile takeover bid by Paramount launched last week to trump plans by streaming...
Business
Netflix’s $83 billion takeover of Warner Bros reshapes Hollywood as regulators prepare intense antitrust scrutiny
Streaming giant Netflix said Friday it will buy film and television studio Warner Bros. Discovery for nearly $83 billion, the...
Business
Business
Bid by Netflix for Warner Bros Discovery signals streaming giant’s ambition to dominate global content production
Streaming giant Netflix has made a mostly cash offer to buy TV and film group Warner Bros Discovery as the...
- Netflix joined Paramount Skydance and Comcast, the owner of NBCUniversal, in a second round of an auction that was being negotiated throughout the US Thanksgiving holiday
- The parent company of HBO, CNN and the Warner Bros film studio officially put itself up for sale in October after receiving multiple unsolicited offers
Business
UAE’s AI Office announces Google Gemini as top model in ‘AI in the Ring’ Index
Dubai, UAE - The UAE’s Artificial Intelligence, Digital Economy, and Remote Work Applications Office announced that Google Gemini has ranked...
- Gemini earned the top ranking following a review of over 400 questions and 5,200 generated responses from 11 major language models
- A Committee of Emirati experts evaluated the outputs to identify which models demonstrated the strongest cultural understanding
Business
Meta to remove under-16 Australians from Facebook, Instagram on December 4
Australians younger than 16 will be removed from Facebook and Instagram on December 4, tech giant Meta said Thursday, as...
- From December 10, Australia will force social media platforms, including Facebook, Instagram and TikTok, to remove users under the age of 16 or face hefty fines
- "From today, Meta will be notifying Australian users it understands to be aged 13-15 that they will lose access to Instagram, Threads and Facebook," Meta said in a statement
Business
Samsung plans $310 bn investment to power AI expansion
Seoul, South Korea -- South Korean conglomerate Samsung unveiled on Sunday a plan to invest $310 billion over the next...
- The business group's flagship Samsung Electronics is already one of the world's top memory-chip makers, providing crucial components for the AI industry.
- South Korea is also home to SK hynix, another key player in the global semiconductor market.
Business
EU approves ADNOC’s purchase of Germany’s Covestro
Brussels, Belgium -- The European Commission on Friday greenlit the takeover of German chemical firm Covestro by UAE state oil...
- Plastics maker Covestro accepted a bid from the Abu Dhabi National Oil Company in October, valuing the company at 12 billion euros ($14 billion).
- ADNOC has promised to inject around 1.2 billion euros into the chemicals firm through the issuance of new shares under the terms of the takeover.
Business
Google to invest $6.4bn
The investment is its biggest-ever in Germany.
- Google's plans include a new data center and expansion of an existing center in the western state of Hesse, providing computing power for artificial intelligence.
- It also plans to expand its offices in Berlin, Frankfurt and Munich, and outlined various projects aimed at reducing its greenhouse gas emissions.
Business
Pfizer poised to buy Metsera
The pharma giant improved its offer to $10bn.
- The Danish firm said Saturday that it "does not intend to make an increased offer to acquire Metsera."
- The company "will continue to assess opportunities for business development and acquisitions that... further its strategic objectives," it said.
Business
Ozempic maker lowers outlook
The company posted tepid Q3 results.
- It marked the latest bad news for the pharmaceutical giant, which has recently changed its CEO, announced plans to lay off 9,000 employees and replaced more than half of its board.
- The group now expects full-year sales in 2025 to grow by eight to 11 percent, versus the eight to 14 percent range it had expected previously, the company said.
Business
US AI firm Palantir announces joint venture in Dubai
Dubai, United Arab Emirates -- US software firm Palantir launched a joint venture with the Dubai government's investment arm on...
- The joint venture, named Aither, was unveiled a day after Microsoft announced $15.2bn in AI and cloud computing investments in the UAE, which seeks to become a global AI leader.
- Palantir has a reach that spans the global economy, with banks, hospitals, the US government and the Israeli military among its ever-expanding client roster.
Business
Microsoft unveils $15.2 billion AI, cloud computing investments in UAE
The deal sent US chip-maker Nvidia shares up 2.6 percent, buoyed by hopes the AI juggernaut could see access for...
- "This is not money raised in the UAE. It's money we're spending in the UAE," Smith wrote in a blog post published during a visit to Abu Dhabi.
- Smith said the investments had been encouraged by both the US and UAE governments and had involved a partnership with the country's G42 sovereign artificial intelligence company.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Warner Bros rejects Paramount bid, sticks with Netflix, says terms of Netflix merger were better
Warner Bros. Discovery on Wednesday rejected a hostile takeover bid by Paramount launched last week to trump plans by streaming...
Business
Company News
Latest News
Musk kicks Kanye West off Twitter for ‘incitement to violence’
West has made a series of anti-Semitic comments recently, as the one-time titan of fashion and music appears to have...
Oman sees hospitality industry revenue fall 3.5%
The National Centre for Statistics and Information says domestic guest have supported the Oman's hotels.
Proof of Covid-19 vaccination, PCR test needed to enter Expo Dubai
Expo 2020 visitors will need a coronavirus vaccination or a negative PCR test to enter, organisers in Dubai has said....
Cyberattack hits hundreds of US businesses
A US IT company urges customers to shut down their servers after the attack UN Security Council members recently warned...
Saudi Arabia to generate $150 billion in investments from its new transport policy
The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private...
Meta to remove under-16 Australians from Facebook, Instagram on December 4
Australians younger than 16 will be removed from Facebook and Instagram on December 4, tech giant Meta said Thursday, as...
Business
Samsung plans $310 bn investment to power AI expansion
Seoul, South Korea -- South Korean conglomerate Samsung unveiled on Sunday a plan to invest $310 billion over the next...
Business
EU approves ADNOC’s purchase of Germany’s Covestro
Brussels, Belgium -- The European Commission on Friday greenlit the takeover of German chemical firm Covestro by UAE state oil...
Business
Most Read
Business
Pfizer poised to buy Metsera
The pharma giant improved its offer to $10bn.
- The Danish firm said Saturday that it "does not intend to make an increased offer to acquire Metsera."
- The company "will continue to assess opportunities for business development and acquisitions that... further its strategic objectives," it said.
Business
Ozempic maker lowers outlook
The company posted tepid Q3 results.
- It marked the latest bad news for the pharmaceutical giant, which has recently changed its CEO, announced plans to lay off 9,000 employees and replaced more than half of its board.
- The group now expects full-year sales in 2025 to grow by eight to 11 percent, versus the eight to 14 percent range it had expected previously, the company said.
Business
US AI firm Palantir announces joint venture in Dubai
Dubai, United Arab Emirates -- US software firm Palantir launched a joint venture with the Dubai government's investment arm on...
- The joint venture, named Aither, was unveiled a day after Microsoft announced $15.2bn in AI and cloud computing investments in the UAE, which seeks to become a global AI leader.
- Palantir has a reach that spans the global economy, with banks, hospitals, the US government and the Israeli military among its ever-expanding client roster.