industries

Warner Bros. Takes $9.1 Billion Writedown on TV Networks
07 Aug

Warner Bros. Takes $9.1 Billion Writedown on TV Networks

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Warner Bros. Discovery Inc., the parent of CNN and TNT, posted a second-quarter charge of $9.1 billion after writing down the value of its traditional TV networks.The company, created in 2022 when Discovery Inc. acquired WarnerMedia, has concluded that cable channels like CNN and TNT are no longer worth what they were when the $42 billion merger was completed. Source link lol
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Byju’s US Judge Rejects Effort to Stop Payment to India Cricket
07 Aug

Byju’s US Judge Rejects Effort to Stop Payment to India Cricket

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A US judge refused to block a debt payment designed to free Byju’s from an insolvency case in India, telling American lenders to take their complaints about the transaction to a court in the home country of the educational tech firm.US Bankruptcy Judge Brendan Shannon rejected a lender request to block Riju Ravindran, brother of Byju’s founder, from paying more than $19 million to India’s governing board for cricket. A deal to clear the debt enabled Byju’s to win dismissal of an insolvency case in front of a judicial tribunal in India. Source link lol
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CIBC Plans Hiring Spree in Artificial Intelligence, Data Jobs
07 Aug

CIBC Plans Hiring Spree in Artificial Intelligence, Data Jobs

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Canadian Imperial Bank of Commerce plans to hire more than 200 employees in data and artificial intelligence over the next year as it expands its use of generative AI.The country’s fifth-largest bank has carried out a number of pilot programs using generative AI and is adding staff in Canada to accelerate those efforts, Christina Kramer, the bank’s head of technology and innovation, said in a statementBloomberg Terminal. Source link lol
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