Tag Archives: Stake

With Israel’s ethos at stake, 13-hour court hearing proves riveting, fateful TV drama – The Times of Israel

  1. With Israel’s ethos at stake, 13-hour court hearing proves riveting, fateful TV drama The Times of Israel
  2. Israel’s judicial reform: A country on the brink of a constitutional crisis? • FRANCE 24 English FRANCE 24 English
  3. Defending the rule of law, enforcing apartheid – the double life of Israel’s judiciary Amnesty International
  4. Israel’s Supreme Court hears arguments in showdown over judicial curbs | The World ABC News (Australia)
  5. Overhaul hearing sees court, gov’t in bitter fight for quasi-constitutional primacy The Times of Israel
  6. View Full Coverage on Google News

Read original article here

Comcast CEO says company will ‘more likely than not’ sell Hulu stake – CNN

  1. Comcast CEO says company will ‘more likely than not’ sell Hulu stake CNN
  2. Comcast will likely sell Hulu stake to Disney at the beginning of 2024, CEO Roberts says CNBC
  3. Brian Roberts Says Comcast “More Likely Than Not” To Sell Hulu Stake To Disney; Calls Mike Cavanagh, Who Stepped In For Fired Jeff Shell, “Calming Influence” Deadline
  4. Comcast CEO: “I Think It’s More Likely Than Not” We’ll Sell Hulu Stake to Disney Hollywood Reporter
  5. Disney likely to buy large stake in Hulu from Comcast Yahoo Finance
  6. View Full Coverage on Google News

Read original article here

Brian Roberts Says Comcast “More Likely Than Not” To Sell Hulu Stake To Disney; Calls Mike Cavanagh, Who Stepped In For Fired Jeff Shell, “Calming Influence” – Deadline

  1. Brian Roberts Says Comcast “More Likely Than Not” To Sell Hulu Stake To Disney; Calls Mike Cavanagh, Who Stepped In For Fired Jeff Shell, “Calming Influence” Deadline
  2. Comcast will likely sell Hulu stake to Disney at the beginning of 2024, CEO Roberts says CNBC
  3. Comcast CEO says company will ‘more likely than not’ sell Hulu stake CNN
  4. Disney likely to buy large stake in Hulu from Comcast Yahoo Finance
  5. Comcast CEO: “I Think It’s More Likely Than Not” We’ll Sell Hulu Stake to Disney Hollywood Reporter
  6. View Full Coverage on Google News

Read original article here

Disney’s Bob Iger Reveals “Cordial” And “Constructive” Talks Have Started With Comcast About Buying Out Its Hulu Stake – Deadline

  1. Disney’s Bob Iger Reveals “Cordial” And “Constructive” Talks Have Started With Comcast About Buying Out Its Hulu Stake Deadline
  2. Hulu content will be added to Disney+ to create a ‘one app experience,’ Iger says CNBC
  3. Disney will bring Hulu content into Disney Plus and raise its ad-free prices The Verge
  4. Disney+ Confirms Price Increase On The Way, As Well As A Huge Change For Hulu CinemaBlend
  5. Disney CEO Addresses Potential Hulu Purchase From Comcast, “We’ve Had Conversations” ComicBook.com
  6. View Full Coverage on Google News

Read original article here

Warren Buffett says the unusually quick sale of Berkshire Hathaway’s TSMC stake was driven by geopolitical tensions – Yahoo Finance

  1. Warren Buffett says the unusually quick sale of Berkshire Hathaway’s TSMC stake was driven by geopolitical tensions Yahoo Finance
  2. Buffett’s Japanese stock purchases could indicate a bigger plan, says Mobius Capital’s Mark Mobius CNBC Television
  3. Berkshire Set to Pay More for Yen Debt Amid BOJ Tightening Bets Bloomberg
  4. Warren Buffett has his eyes on this one country when it comes to his future investments—and he already owns 6% of its top 5 companies Yahoo Finance
  5. Cramer’s First Take: Warren Buffett doesn’t invest like us CNBC Television
  6. View Full Coverage on Google News

Read original article here

Tyler Perry Expressed Interest in Buying Majority Stake of BET Media Group From Paramount Global – The Wall Street Journal

  1. Tyler Perry Expressed Interest in Buying Majority Stake of BET Media Group From Paramount Global The Wall Street Journal
  2. Tyler Perry, Byron Allen Eye BET Majority Stake as Paramount Explores Sale Hollywood Reporter
  3. Paramount Global considers selling majority stake of BET Media Group, sources say CNBC
  4. Byron Allen & Tyler Perry Eyeing BET As Paramount Explores Sale Of Majority Stake – Update Deadline
  5. Tyler Perry in Talks to Buy Majority Stake in BET as Paramount Global Explores Sale, Byron Allen Also Pursuing Network Variety
  6. View Full Coverage on Google News

Read original article here

Tyler Perry, Byron Allen Eye BET Majority Stake as Paramount Explores Sale – Hollywood Reporter

  1. Tyler Perry, Byron Allen Eye BET Majority Stake as Paramount Explores Sale Hollywood Reporter
  2. Byron Allen & Tyler Perry Eyeing BET As Paramount Explores Sale Of Majority Stake – Update Deadline
  3. Paramount Global considers selling majority stake of BET Media Group, sources say CNBC
  4. Tyler Perry Expressed Interest in Buying Majority Stake of BET Media Group From Paramount Global The Wall Street Journal
  5. Tyler Perry in Talks to Buy Majority Stake in BET as Paramount Global Explores Sale, Byron Allen Also Pursuing Network Variety
  6. View Full Coverage on Google News

Read original article here

Tyler Perry in Talks to Buy Majority Stake in BET as Paramount Global Explores Sale, Byron Allen Also Pursuing Network – Variety

  1. Tyler Perry in Talks to Buy Majority Stake in BET as Paramount Global Explores Sale, Byron Allen Also Pursuing Network Variety
  2. Tyler Perry, Byron Allen Eye BET Majority Stake as Paramount Explores Sale Hollywood Reporter
  3. Paramount Global considers selling majority stake of BET Media Group, sources say CNBC
  4. Byron Allen & Tyler Perry Eyeing BET As Paramount Explores Sale Of Majority Stake – Update Deadline
  5. Tyler Perry Expressed Interest in Buying Majority Stake of BET Media Group From Paramount Global The Wall Street Journal
  6. View Full Coverage on Google News

Read original article here

GM shares surge after record earnings and new stake in lithium company


New York
CNN
 — 

General Motors reported a much stronger than expected fourth-quarter profit, lifting full-year results to record levels for the second straight year.

The largest US automaker also said Tuesday it is buying a $650 million equity stake in Lithium Americas, which will give it access to the raw material needed to build batteries to power 1 million electric vehicles a year in the first phase of production.

For the quarter, GM earned adjusted earnings of $3 billion, or $2.12 a share, up from $1.35 a share a year earlier and far better than forecasts of $1.69 a share from analysts surveyed by Refinitiv. That lifted full-year adjusted income to $11 billion, up from the $10.4 billion it earned in 2021, which had been its previous record.

The company said it expects strong earnings in 2023, though it expects it to slip a bit from the just posted levels, coming in at between $8.7 billion to $10.1 billion. But company CFO Paul Jacobson said its automotive business is expected to remain strong, with much of the decline likely to be at GM Financial. That’s due to the hit it will take from higher interest rates and the sinking value of used cars, as well as the higher interest rates resulting in an accounting hit to pension earnings.

“Actually that [guidance] is a strong statement about where we see things going, stronger than others” he told journalists on a call Tuesday.

Jacobson told journalists that GM does not expect to follow Tesla and Ford in cutting the prices for its electric vehicles.

“I don’t think there’s any surprise there’s increasing competition in the EV space,” he said. “Our customers are saying we’re priced well based on the demand that we’re seeing.”

The company’s investment in Lithium Americas is part of the company’s efforts to lock-up the supply of raw materials it will need to convert from traditional gasoline powered cars to electric vehicles. The Lithium Americas deal will not supply any lithium to the company until 2026, but Jacobson told media that “we’ve already achieved all the lithium we need through 2025.”

GM expects to build 70,000 EVs this year, a small fraction of its overall vehicle output. It sold 5.9 million vehicles in 2022, down about 6% from 2021 due to the shortage of parts needed to build all the vehicles for which there was demand.

“We continue to face some supply chain and logistics issues, but overall, things remain trending in the right direction,” said Jacobson.

But the company expects to be rapidly increasing its EV supply and offerings, with a new battery plant that opened last year, two more under construction and a fourth planned soon. GM has a target to build 400,000 EVs through the middle of 2024, and 1 million annually by 2025.

CEO Mary Barra predicted there will be more deals like the Lithium Americas one to be announced soon.

“We continue to pursue strategic supply agreements and partnerships to further secure our long-term needs,” she told investors.

GM said it will reduce its staff in 2023, part of its effort to cut $2 billion in costs over the next two years. But unlike a number of major companies that have announced layoffs in recent months, company officials stressed GM would not be shrinking through layoffs. Instead the reduction would be handled through attrition.

GM did not disclose how many jobs might be trimmed, with Jacobson saying the company would end this year “slightly lower” in headcount.

GM has 167,000 employees globally, with 124,000 in North America. That includes more than 42,000 members of the United Auto Workers union. Those workers will get profit sharing bonuses of an average of $12,750 for the year, up nearly 25% from the $10,250 they received a year earlier.

Shares of GM

(GM) soared more than 5% in pre-market trading on the results.

This story is developing and will be updated.

Read original article here

Renault slashes Nissan stake as the automakers overhaul their decades-long alliance

Renault and Nissan automobile logos are pictured during the Brussels Motor Show on January 9, 2020 in Brussels. (Photo by KENZO TRIBOUILLARD/AFP via Getty Images)

Kenzo Tribouillard | Afp | Getty Images

Automobile giants Renault and Nissan on Monday agreed to restructure their decades-long alliance, in a move that would see Renault’s shareholdings in Nissan reduced from around 43% to 15%.

The deal, which still pends board approvals, would equalize the companies’ cross-shareholdings, with the carmakers now able to “freely exercise the voting rights attached to their 15% direct shareholdings, with a 15% cap,” the companies said.

The new structure would also see Renault transfer 28.4% of Nissan shares into a French trust.

Voting rights in the trust would be “‘neutralized’ for most of the decisions, but the economic rights (dividends and shares’ sale proceeds) would still entirely benefit to Renault until such shares are sold,” according to the Monday announcement.

Renault would instruct the trustee to sell those shares if “commercially reasonable” and as part of a “coordinated and orderly process.”

The carmakers first signed their coalition in March 1999, expanding it to include junior partner Mitsubishi Motors in 2016. The Monday deal comes after months of intense discussions over the restructure of the Franco-Japanese alliance.

As part of the agreement, Nissan would also invest in Ampere, Renault’s electric vehicle arm, while the two companies will embark on “high-value-creation operational projects” in Latin America, India and Europe.

Renault announced in November that it had signed a non-binding framework agreement with China’s Geely to establish a new company producing hybrid powertrains and “highly efficient ICE [internal combustion engine] powertrains.”

The French giant has also entered into a long-term strategic cooperation with U.S. chipmaker Qualcomm.

Renault shares dropped 1.4% in early trade in Europe, while Nissan shares were down by around 0.7% during Asian trading hours overnight.

Read original article here