Category World News

In a speech at the World Economic Forum in Davos, Switzerland, which avoided mentioning US President Donald Trump, the country’s rules-based order has been broken.

The Canadian leader’s words have been widely praised and analyzed despite Trump’s harsh criticism of Carney.

Is he correct, then?

Presenter: Adrian Finighan

Guests:

Lionel Barber, former Financial Times editor

Bessma Momani, University of Waterloo Professor of Political Science

In 2029, The Oscars intend to move their decades-long run on broadcast television to YouTube. Even the most significant cultural events are still being watched by audiences. However, it was already too soon to say that “live TV was dying,” so how will it continue?

In this episode: &nbsp .

Credits for each episode:

Farhan Rafid, Tamara Khandaker, Tracie Hunte, Tamara Khandaker, and Kevin Hirten, our guest host, were involved in the production of this episode. Noor Wazwaz edited it. &nbsp,

Alex Roldan is our sound designer. This episode was mixed by Joe Plourde. Hisham Abu Salah and Mohannad al-Melhemm, our video editors. Executive producer of The Take is Alexandra Locke. The head of audio for Al Jazeera is Ney Alvarez. &nbsp,

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The deadline for the Ellison-owned media company to consider its $77.9 billion offer to purchase Warner shares for $30 each in cash was moved to February 20. More than $ 108 billion in total, including debt, is the bid’s total enterprise value.

Since Paramount last challenged Warner’s merger agreement with Netflix last month, the deadline has been extended for the second time.

An amended Paramount bid by Larry Ellison, Oracle’s co-founder and father of Paramount CEO David Ellison, was rejected by Warner’s board earlier this month. Donald Trump’s US president also has a close relationship with Larry Ellison.

More than 168.5 million Warner shares had been tendered in support of its offer as of late on Wednesday, according to Paramount. With about 2.48 billion shares of the company’s Series A common stock still outstanding, that is still far below the required 50% to take control of the business.

In a statement released on Thursday, Warner stated in a statement that “it is clear our shareholders agree” that more than 93 percent of Netflix’s shareholders have so far rejected “Paramount’s inferior scheme” and that “Paramount continues to make the same offer our Board has repeatedly and unanimously rejected in favor of a superior merger agreement.”

Netflix made a $ 72 billion purchase of Warner’s studio and streaming business in December. The companies claim this week’s change from a cash-and-stock combination to an all-cash deal, which will speed up the process to a shareholder vote in April. The combined enterprise value of that agreement is approximately $ 83 billion, or $ 27.75 per share, including debt.

Paramount, however, claims its offer is better and that Warner’s board of directors has lied to shareholders about how transparent it is.

The company warned that debt from a previously announced spinoff of Warner’s networks business could lower the company’s stockholders’ approval of the Netflix merger on Thursday.

Netflix and Paramount are seeking various assets, complicating the fight for Warner.

By transferring control of the Friends to Batman franchises, as well as the HBO Max streaming service, to a single buyer, a successful deal would transform Hollywood.

The Netflix deal is still in effect.

Only HBO Max and its TV and film production divisions are included in Netflix’s bid, which includes Warner’s studio and streaming businesses. By contrast, Paramount’s offer covers the entire business, including its news and cable operations, potentially putting CNN under the same roof as CBS.

Warner’s networks would be merged into a separate company called Discovery Global under a previously announced strategy if Netflix were to prevail.

Warner Bros. Discovery’s sale is anticipated to take some time and be subject to intense antitrust scrutiny. Under Trump, who has made unheard of claims about his personal involvement in the approval process, politics are likely to play a role.

According to the Ellisons, Trump facilitates their regulatory transition. Ted Sarandos, the co-CEO of Netflix, stated on a Tuesday post-earnings call that the company had made progress in obtaining the necessary approvals.

After he quit as president of the United States in January 2021, Donald Trump filed a lawsuit against JPMorgan Chase and its CEO, Jamie Dimon, for $5 billion, alleging that JPMorgan had defrauded him and his businesses for political reasons.

The lawsuit was filed in Florida’s Miami-Dade County on Thursday. It claims that JPMorgan gave out no justification for the abrupt closing of several accounts in February 2021. Trump claims that doing so caused JPMorgan to cut off access to the president’s and his companies’ millions of dollars, stifled their operations, and forced them to move bank accounts to a different location.

According to the lawsuit, “JPMC debanked Trump and his businesses” because it believed the current political climate would encourage doing so.

JPMorgan said in a statement that it regrets Trump’s lawsuit, but that they won’t close the accounts for political reasons.

A bank spokesman said, “We think the suit has no merit.” For political or religious reasons, JPMC does not close accounts. Accounts are closed because they present a risk to the business in terms of law or regulations.

The White House announced that it would refer the issue to the president’s outside counsel.

In recent years, conservatives have voiced their opposition to banks because they improperly adopted “woke” political positions and, in some cases, discriminated against particular industries like firearms and fossil fuels.

During Trump’s second term, the Republican president claimed in interviews that some banks had refused to hire him and other conservatives for services. The banks have refuted the claim.

In a practice known as “debanking,” a US banking regulator reported last month that the nine largest US banks had previously imposed restrictions on providing financial services to some contentious industries.

In light of the Trump administration’s efforts to investigate banks over alleged debanking, JPMorgan announced last year that it was cooperating with inquiries from government agencies and other entities.

reputational risk

US regulators have examined themselves to see if excessive supervisory controls stifled the provision of services by banks to particular industries.

Federal bank regulators last year declared they would stop policing banks based on what is known as “reputational risk,” and Trump-led officials have also taken steps to relax oversight.

In accordance with that strategy, supervisors could impose sanctions on institutions that were otherwise prohibited from public view or that would result in expensive legal action.

Banks have voiced their frustration with the vague and subjective reputational risk standard, which enables supervisors to veer off specific groups or industries.