Hans Zimmer, the renowned composer of film scores such as The Lion King, Gladiator and Inception, has bought the BBC’s iconic Maida Vale Studios in London in a partnership with three film producers. The venue, which the BBC had owned since 1933, has played host to the likes of David Bowie, The Beatles, Led Zeppelin…
Category: Wire
News wire, ,nyse exchange, market newspaper, equities market news, financial news,
PayPal names Intuit executive Alex Chriss as new President and CEO
PayPal, the global online payments giant, has announced that it has appointed Alex Chriss, a senior executive from Intuit, as its new president and CEO, effective 27 September 2023. Chriss will succeed Dan Schulman, who has led PayPal since 2014 and announced his retirement in February. Schulman will remain on the board of PayPal until…
SoftBank in talks to buy back Arm stake from Vision Fund 1 ahead of IPO
SoftBank Group Corp is in talks to buy back the 25% stake in Arm Ltd it does not directly own from Vision Fund 1 (VF1), a $100 billion investment fund it raised in 2017, Reuters reported on Monday. The negotiations come as SoftBank, which currently owns 75% of Arm, is preparing to list the chip…
Tesla cuts Model Y prices in China amid falling sales
Tesla Inc has announced that it will reduce the prices of its Model Y long-range and performance versions in China starting from Aug. 14, according to a notice posted on its website on Monday. The electric car maker said it will lower the starting prices of both models by 14,000 yuan ($1,934.58), which represents a…
U.S. Steel explores strategic options after receiving takeover bids
United States Steel Corp. (U.S. Steel), one of the largest steel producers in the world, announced on Sunday that it is launching a formal review to evaluate strategic alternatives for the company, following multiple unsolicited takeover offers from potential buyers. The Pittsburgh-based company said in a press release that it has received “multiple unsolicited proposals…
X CEO Linda Yaccarino says the company is hiring and growing after Musk’s takeover
X, the social media platform formerly known as Twitter, is hiring again after slashing more than half of its workforce following its acquisition by Elon Musk. The company’s CEO, Linda Yaccarino, said in an interview with CNBC on Thursday that the company is shifting from cost-cutting to growth mode. “I get to come in and…
Disney hikes streaming prices and cracks down on password sharing
Disney, the entertainment giant, has announced that it will raise the prices of its ad-free streaming services, Disney+ and Hulu, by $3 per month, starting from October. The company also said that it will intensify its efforts to stop password sharing among its subscribers, which could generate more revenue in the long term. The price…
Mortgage rates fall as lenders compete for customers
Mortgage rates have fallen for the first time in two months, as several lenders have reduced their costs across both residential and buy-to-let ranges. The move could benefit homebuyers and homeowners who are looking to remortgage or switch to a better deal. According to Moneyfacts, a financial data provider, the average rates on two-year and…
National World eyes Telegraph Media Group as potential acquisition target
National World, the owner of the Yorkshire Post, the Scotsman and more than 100 other regional newspapers and websites, has expressed its interest in buying the Daily Telegraph and its sister titles, including the Sunday Telegraph and the Spectator magazine. The company, which was founded by former Mirror executive David Montgomery, said in a statement…
Tapestry to acquire Capri Holdings in a $8.5 billion deal to create a global luxury house
Tapestry, the parent company of Coach, Kate Spade and Stuart Weitzman, announced on Thursday that it has agreed to buy Capri Holdings, the owner of Michael Kors, Versace and Jimmy Choo, in a cash deal valued at $8.5 billion (€7.7 billion). The deal will create a new powerful global luxury house with six iconic brands…
Barretts Bakery, a popular Perth chain, faces liquidation over $2m tax debt
Barretts Bakery, a well-known bakery chain that has been operating in Perth for over 25 years, is in danger of being liquidated after owing $2 million to the Australian Taxation Office (ATO). The chain, which has seven stores across the city, was placed under administration on July 27, according to a notice published by ASIC1. The…
Southern Rail plans to scrap direct trains to Gatwick Airport
Southern Rail has announced proposals to change its West Coastway timetable, which would affect passengers travelling between Southampton and Gatwick Airport. Under the new plans, direct trains from Southampton Central to London’s second-biggest airport would be axed, and passengers would have to change at Barnham. The operator says this would improve reliability and capacity on…