BUSINESS

INTEL BOARD MEMBER RESIGNS AMID TENSIONS OVER WORKFORCE AND AI STRATEGY

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Lip-Bu Tan, a prominent semiconductor industry veteran, has resigned from Intel's board, citing personal reasons and a need to "reprioritize various commitments." However, sources close to the situation reveal that his departure was fueled by differences with Intel's CEO, Pat Gelsinger, and other directors over the company's workforce size, risk-averse culture, and lagging artificial intelligence (AI) strategy.

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CANADIAN RAIL LOCKOUT THREATENS ECONOMIC DISRUPTION ACROSS NORTH AMERICA

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Canada's two largest freight railroads - Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC) - locked out over 9,000 workers after failing to reach new labor agreements with the Teamsters Canada Rail Conference union. This unprecedented dual lockout has brought rail operations across Canada to a standstill, with potentially severe consequences for both the Canadian and U.S. economies.

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CANADA IMPOSES 100% TARIFF ON CHINESE-MADE ELECTRIC VEHICLES AMID GLOBAL TRADE TENSIONS

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Mirroring recent U.S. policy, Canada has announced a 100% tariff on Chinese-made electric vehicles (EVs). This decision, revealed on August 26, 2024, aligns with similar measures taken by the United States and planned by the European Commission, signaling a coordinated Western response to China's dominance in the EV market.

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S&P LOWERS WARNER BROS DISCOVERY OUTLOOK TO 'NEGATIVE' AMID CABLE TV STRUGGLES AND POTENTIAL NBA RIGHTS LOSS

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S&P Global Ratings has downgraded its outlook on Warner Bros Discovery (WBD) from "stable" to "negative," reflecting growing concerns over the company's declining cable TV business, which faces further risks from the potential loss of broadcast rights for National Basketball Association (NBA) games.

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NBA SEEKS TO SHUT DOWN WARNER'S LEGAL CHALLENGE OVER MEDIA RIGHTS

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In a dramatic turn of events, the National Basketball Association (NBA) has moved to dismiss Warner Bros. Discovery's (WBD) lawsuit over media rights, escalating tensions between the longtime partners. On August 24, 2024, the NBA filed documents in the Supreme Court of the State of New York seeking to shut down WBD's legal efforts to retain a portion of the league's media rights.

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ALIBABA'S QUARTERLY PROFIT DROPS 29% AMID ECONOMIC SLOWDOWN , REVENUE MISSES ESTIMATES

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Alibaba Group Holding, once the undisputed titan of Chinese online retail, finds itself grappling with economic headwinds and fierce competition. The company's latest financial results, released on August 15, 2024, paint a picture of a behemoth struggling to maintain its dominance amidst shifting consumer preferences and a sluggish economy.

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ALIBABA PLANS TO UPGRADE ITS HONG KONG LISTING

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Chinese e-commerce giant Alibaba said Friday it would upgrade its Hong Kong-listed shares to primary status, opening it up to China's huge army of investors that could potentially rake in billions of dollars for the firm.

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PRINGLES MAKER KELLANOVA TO BE ACQUIRED BY MARS FOR NEARLY $36 BILLION

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Mars, M&M's and Snickers maker said on Wednesday that it would acquire snack food business Kellanova, marking a multibillion dollar agreement set to result in a new industry giant.

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