• AT&T and Discovery to create new streaming giant

      AT&T and Discovery to create new streaming giant

      AT&T said Monday it will combine its massive WarnerMedia media assets, which includes HBO and CNN, with Discovery Inc. to create a new media heavyweight in a $43bn deal. The deal, which isn’t slated to close until next year, will create new publicly traded company that will enter a streaming arena that has been flooded in the past two years with new players including those owned by AT&T and Discovery, which operate HBO Max and Discovery+, respectively. 

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    • Amazon made $9bn offer for MGM

      Amazon made $9bn offer for MGM

      Amazon is into heavy negotiations to acquire MGM for about $9bn, industry sources told Variety today. According to the news outlet, the tech giant has reportedly been negotiating a deal for "weeks", which confirms information first reported on Monday that Amazon was in talks for a potential deal that could run between $7bn and $10bn.

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    • Nord Stream 2 given go ahead in German waters

      Nord Stream 2 given go ahead in German waters

      A German oversight agency on Monday gave the go-ahead for a 2-kilometre section of the Nord Stream 2 gas pipeline to be laid in German territorial waters, dpa reported. The Federal Maritime and Hydrographic Agency (BSH) ordered the immediate enforcement of a controversial permit issued in January that allowed pipe to be laid on the seabed in Germany's exclusive economic zone.

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    • Luxury industry eyes rebound from pandemic by end-2021

      Luxury industry eyes rebound from pandemic by end-2021

      Luxury brands worldwide bet on fast rebound from the Covid-19 slowdown as customer demand picks up due to huge stimulus packages and fast vaccination roll-out fuels optimism over economic recovery, AP reported, quoting a study by Bain & Co. consultancy. The rapid rebounding US economy together with China - already on an established growth trajectory - could push the global market for personal luxury goods back to or even beyond pre-pandemic sales levels as early as this year, Bain partner Claudia D’Arpizio said.

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    • Sanofi/GSK Covid-19 jabs on the verge of EU approval

      Sanofi/GSK Covid-19 jabs on the verge of EU approval

      New Covid-19 vaccine is on the verge of EU approval as French-English consortium Sanofi/ GlaxoSmithKline reported very high efficiency and good tolerability of its jabs, Reuters reported. The vaccine proved a robust immune response in early trials. The study is now scheduled for a late trial that precedes granting an approval for usage.

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    • BP lobbies to ease EU net-zero emissions target

      BP lobbies to ease EU net-zero emissions target

      British Petroleum lobbies for softer EU stance on carbon emissions as the company requested natural gas to be excluded from the list of greenhouse factors, Reuters reported. The BP position has earned some support from investors and calls for a wider European dispute about the role of the fossil fuel in the transition to a lower-carbon world. The European Commission has placed a target to achieve net-zero greenhouse gas emissions by 2050.

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    • Ryanair dips to a record €815m loss

      Ryanair dips to a record €815m loss

      Europe's largest budget carrier Ryanair announced a record annual loss, driven by shrinking travels due to pandemic restrictions, Reuters reported. The discount airline firm hopes to break even by the end of the current year, but it still remains uncertain when traveling will return to a full scale functioning and whether passengers will be more likely to spend money on air traveling. The slump of business activity forced Ryanair to cut capacity by some 80% and lay off some 1,000 people.

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    • Honda collects $2bn profit in Q1

      Honda collects $2bn profit in Q1

      The Japanese carmaker Honda managed to emerge from the pandemic slowdown and return to the profitable path, Reuters reported. It announced a $2bn profit in the first quarter of 2021, outpacing previous forecasts. Quarterly sales rose nearly 5% to $33 billion. Honda’s profit for the fiscal year that ended in March totaled $6 billion, up 44% from the previous fiscal year.

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