Famed money manager Mario Gabelli, one of the largest shareholders in Paramount Global, urged the Federal Communications Commission to halt its review of the transfer of broadcast licenses in the media giant’s $8 billion merger with Skydance. Gabelli requested the delay so that he could probe for “potential fiduciary and/or federal securities violations” against Paramount’s…
ALEXANDRIA, Va. — A U.S. jury on Tuesday awarded $42 million to three former detainees of Iraq’s notorious Abu Ghraib prison, holding a Virginia-based military contractor responsible for contributing to their torture and mistreatment two decades ago. The decision from the eight-person jury came after a different jury earlier this year couldn’t agree on whether…
Food and beverage manufacturer Kraft Heinz said Tuesday that it no longer is serving the Lunchables meals it created for U.S. schools. The company introduced the two packaged meals — one starring pizza and the other a turkey, cheddar cheese and cracker plate — at the beginning of the 2023-2024 academic year. At the time,…
Ark Invest CEO Cathie Wood sees a bright future ahead with President-elect Trump’s return to the White House and predicted over the weekend that his policy agenda will likely usher in economic growth not seen in decades. In a post-election message to investors released Sunday, Wood likened America’s current economic situation to the early 1980s when…
Spirit Airlines is preparing to file for bankruptcy protection after new merger talks with Frontier Airlines broke down, the Wall Street Journal reported, citing people familiar with the matter. The ultra-low cost carrier is in advanced discussions with bondholders to hammer out a bankruptcy plan that would have support from a majority of creditors, the report…
OpenAI co-founder Greg Brockman has returned to the artificial intelligence startup three months after taking a leave from his role as president, he said in a post on X on Tuesday. An OpenAI spokesperson confirmed Brockman’s return. Brockman has been working with CEO Sam Altman on creating a new role for him to focus on significant technical challenges, Bloomberg News said,…
New York bankers are expected to pocket bonuses as high as 35% as Wall Street deal-making roared back to life after the economic malaise after the COVID pandemic. Johnson Associates, a firm that specializes in banking compensation issues, said chunkier profits, a surging stock market and low interest rates will lead to the first bump…
James Dolan has abruptly nixed a tie-up with the company that manages his sports and entertainment venues after the firm disclosed plans to build a new arena in Las Vegas — a project that Dolan believes could compete directly against the Sphere, The Post has learned. The billionaire Knicks owner has quietly broken off an…
President-elect Donald Trump is reportedly expected to attempt to block a potential US ban of TikTok ahead of a looming January deadline, according to multiple sources including longtime ally Kellyanne Conway. TikTok is fighting in court to block a federal law that would require the app’s China-based parent ByteDance to divest its stake or face…
Ratings-challenged CNN is reportedly set for a major bloodbath — with boss Mark Thompson expected to lay off high-priced on-air talent as part of wide-ranging layoffs. The cable network — which lagged behind rivals MSNBC and Fox News during last week’s Election Night coverage — will implement “layoffs that will impact hundreds of employees across…
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