BUSINESS

PARAMOUNT GLOBAL AND SKY DANCE MEDIA AGREE ON NEW M&A DEAL TERMS WHICH AWAIT APPROVAL

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In a significant development in the media industry, Paramount Global and Skydance Media have agreed on the terms of a merger deal that could reshape the entertainment landscape. The special committee of Paramount Global’s board of directors and David Ellison’s Skydance Media, backed by private-equity firms RedBird Capital and KKR, have revised the merger terms to offer a more enticing proposition to Paramount’s nonvoting shareholders.

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ELON MUSK’S XAI RAISES $6 BILLION, SETTING STAGE FOR AI MARKET RIVALRY

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In a significant move that underscores the burgeoning importance of artificial intelligence, Elon Musk's AI firm, xAI, has successfully raised $6 billion from a diverse group of investors, including top Silicon Valley venture capitalists and Saudi Prince Alwaleed Bin Talal. This latest infusion of capital boosts xAI's valuation to an impressive $24 billion, positioning it as a formidable competitor in the AI industry.

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JEEP UNVEILS WAGONEER S AS FIRST ALL-ELECTRIC MODEL FOR $71,995

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Jeep has taken the wraps off the Wagoneer S, the brand's first fully electric vehicle offering for the United States market. Priced from $71,995, the Wagoneer S aims to bring Jeep's off-road capability and adventurous spirit to the growing electric SUV segment.

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TESLA'S GREENHOUSE GAS EMISSIONS SPIKE DESPITE NET ZERO GOALS

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Despite its well-publicized ambitions to achieve net-zero emissions, Tesla saw a significant increase in its greenhouse gas pollution levels in 2023, according to the company's latest environmental report.

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CRUDE OIL PRICES DIP DUE TO DEMAND CONCERS

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Oil prices eased on Thursday after resilient US economic activity pointed to borrowing costs staying higher for longer in a potential blow to demand, according to Reuters.

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RANGE ROVER ANNOUNCES IT’S FIRST FULLY ELECTRIC SUV WITH ADVANCED BATTERY TECHNOLOGY

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The automotive world is buzzing with anticipation as Range Rover prepares to launch its first fully electric SUV. Combining the brand’s signature luxury with eco-conscious performance, the Range Rover Electric promises an exciting driving experience.

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BMW UNVEILS THE M4 GT3 EVO, A SIGNIFICANT ADVANCE IN THE AUTOMOTIVE INDUSTRY

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BMW has taken a significant step forward in the world of GT racing with the unveiling of the M4 GT3 EVO, set to make its debut in 2025. This evolution of the M4 GT3 represents a commitment to performance, reliability, and customer satisfaction. Developed with input from factory drivers such as Augusto Farfus, Jens Klingmann, and Bruno Spengler, the EVO-spec car focuses on drivability and efficiency rather than just raw performance gains.

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RED LOBSTER FILES FOR CHAPTER 11 BANKRUPTCY PROTECTION

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Red Lobster has recently made headlines by filing for Chapter 11 bankruptcy protection. The company, grappling with over $1 billion in debt and less than $30 million in cash, plans to sell its business to lenders while receiving financing to stay afloat. The iconic chain, with 578 locations across 44 states and Canada, serves 64 million customers annually, generating $2 billion in sales.

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