Get ready for Warner Bros. and Discovery Global. Warner...
Get ready for Warner Bros. and Discovery Global. Warner Bros. and Discovery have gotten past that awkward phase of determining who gets to keep what after the breakup, with the company announcing yesterday the names and leadership of the two companies that will remain after it splits itself in two. The streaming and movie studio will be known as Warner Bros., with WBD CEO David Zaslav at the helm, and the cable television business (which also includes the Discovery+ streaming service) led by the current company’s CFO will be called Discovery Global. The company expects to complete the rupture, which will effectively undo the blockbuster 2022 merger that created it, by the middle of next year.
At least four people, including a police officer, were killed in a shooting in a Midtown Manhattan office building that houses corporate offices for Blackstone and the NFL, CNN reports. The shooter, tentatively identified as a 27-year-old from Las Vegas, was also dead, according to authorities.
Spirit Airlines plans to furlough 270 pilots, demote another 140, and run fewer flights this fall as it seeks to cut costs after emerging from bankruptcy.
A Massachusetts federal judge blocked the Trump administration’s efforts to bar Planned Parenthood clinics from receiving Medicaid reimbursements while the organization challenges the defunding included in the Republicans’ recently passed tax bill.
The Las Vegas Sphere will show a version of the 1939 Wizard of Oz souped up by a team of technicians and AI to fit its giant screen. The film screenings begin in late August.
Oil rose after US President Donald Trump said he would move up the deadline...
Oil rose after US President Donald Trump said he would move up the deadline for Russia to agree to a truce in Ukraine, reigniting concerns that tensions between Moscow and the West will threaten flows of crude supplies.
West Texas Intermediate climbed by $1.55 to settle at $66.71 per barrel, the highest in a week, while Brent climbed $1.60, at $70.04 a barrel to end the session at the highest level in more than two weeks.
Trump said he would impose a new deadline of 10-12 days for Russian leader Vladimir Putin to reach a truce with Ukraine, after previously threatening Moscow with 100% “secondary tariffs” to create pressure toward a peace deal.
U.S. stocks end mixed ahead of Fed decision, key earnings and economic data
U.S. stocks finished mostly higher, with the S&P...
U.S. stocks finished mostly higher, with the S&P 500 and Nasdaq scoring records after the U.S. and European Union struck a trade deal and investors looked ahead to earnings reports from several Big Tech companies, the Federal Reserve’s interest-rate decision and upcoming inflation and employment data due this week.
The Dow Jones Industrial Average ended roughly 0.1% lower, according to preliminary closing data by FactSet.
The S&P 500 closed less than 0.1% higher, marking a sixth straight record close, if preliminary figures hold up. That matches the index's longest run of record finishes since a six-day run that ended on July 10, 2024, according to Dow Jones Market Data.
The Nasdaq Composite finished about 0.3% higher at a record close, marking its fourth straight daily gain.
Crude prices remain firm near $70 per barrel despite mounting warnings...
Crude prices remain firm near $70 per barrel despite mounting warnings of a supply glut later this year and into 2026, as strong seasonal demand and low inventories continue to support the market. The International Energy Agency and the Energy Information Administration both project surpluses of around 2 million barrels per day, driven by OPEC+'s rollbacks of supply cuts and increased production from non-OPEC sources.
US Gulf Coast refiners adjust crude sourcing strategies
More Middle Eastern and...
More Middle Eastern and South American crude is flowing to the US Gulf Coast as refiners in the region seek alternatives to scarce Venezuelan and Mexican barrels, ship tracking data show. Imports from South American countries, excluding Venezuela, climbed to a five-year high in July, while Middle Eastern volumes to the Gulf Coast reached 212,000 barrels per day, the most since January.
