Disney: Bob Iger’s startling return to the media titan

Creative Media NewsMonday, 21 November 2022, 23:000

Ex-Disney CEO Bob Iger is returning to the company less than a year after retiring. As the stock price has plunged and Disney+ continues to incur losses, he has been rehired by the media behemoth to guide it through these difficult times. He succeeds Bob Chapek, who assumed the role of CEO in February 2020....

Twitter’s Elon Musk bans Alex Jones

Creative Media NewsMonday, 21 November 2022, 21:000

According to Elon Musk, he won’t permit conspiracy theorist Alex Jones to rejoin Twitter. Former US president Donald Trump, artist Ye (formerly Kanye West), and influencer Andrew Tate all had their accounts revived over the weekend. To tweets questioning if Jones would be the next, Mr. Musk answered. His child had passed away, and he...

FTX cryptocurrency exchange owes its creditors $3.1 billion

Creative Media NewsMonday, 21 November 2022, 6:000

A court document indicates that cryptocurrency exchange FTX owes its 50 largest creditors over $3.1 billion (£2.6 billion). The troubled company, which filed for bankruptcy in the United States last week, claims it owes approximately $1.45 billion to its top 10 creditors but has not identified them. The implosion of the second-largest cryptocurrency exchange in...

Sorrell-backed fund invests in Tenovos

Creative Media NewsSunday, 20 November 2022, 19:000

S4S Ventures, which was co-founded by advertising magnate Sir Martin Sorrell, and a Bertelsmann subsidiary are leading a capital round for the New York-based startup. This week, a venture capital fund funded by advertising magnate Sir Martin Sorrell will announce its first public investment in a digital asset management platform in the United States. S4S...

Musk’s ‘chainsaw’ tactic is bad for Twitter’s future.

Creative Media NewsSunday, 20 November 2022, 17:000

Chris Kelly, an investor in SpaceX, opined that Elon Musk’s more effective strategies at SpaceX and Tesla would not transition well to Twitter. Elon Musk’s strategy “does not bode well” for Twitter’s future, according to an early investor in the billionaire’s SpaceX company. The social media site has been in a near-constant state of instability...

Rees-Mogg windfall in peril as Somerset sale discussions stall

Creative Media NewsSunday, 20 November 2022, 15:000

Negotiations over the sale of the asset management boutique co-founded by Jacob Rees-Mogg and Lord Johnson have halted. A multimillion-pound bonus to former business secretary Jacob Rees-Mogg is in peril due to stalled negotiations for the sale of the asset management firm he cofounded. Negotiations between Mr. Rees-company, Mogg’s Somerset Capital Management, and a potential...

Tesla recalls over 300,000 US vehicles over rear light issues

Creative Media NewsSunday, 20 November 2022, 6:000

According to the electric vehicle manufacturer based in Texas, there have been no reports of accidents or injuries, and it is believed the company will issue a wireless update to fix the problem. Tesla is recalling over 300,000 vehicles in the United States due to possible issues with their backlights. The electric car maker located...

Autumn statement highlights: energy bill relief, higher pensions, and more

Creative Media NewsSaturday, 19 November 2022, 14:000

Here are the key components of Jeremy Hunt’s £55 billion package of tax increases and spending cutbacks to put the United Kingdom “on a balanced path to stability.” Here are the key points from Chancellor Jeremy Hunt’s fall statement to the House of Commons: • Energy bill assistance for homes is extended under the energy...

According to IFS, higher taxes appear to be here to stay.

Creative Media NewsSaturday, 19 November 2022, 9:000

The UK has entered a “new era” of greater taxes, according to the Institute for Fiscal Studies (IFS). Director Paul Johnson stated that middle-income workers were “in for a rude awakening” due to rising taxes and costs. In his Autumn Statement, the chancellor outlined proposals to raise taxes to stabilize the state budget and provide...

Twitter bans employees from the office until next week

Creative Media NewsSaturday, 19 November 2022, 7:000

Twitter has informed its employees that the company’s office buildings will be closed indefinitely, effective immediately. Employees were informed that the offices would reopen on November 21. It did not explain the change. The announcement comes amid reports that a significant number of employees have resigned in response to new owner Elon Musk’s demand that...

According to IFS, higher taxes appear to be here to stay.

Creative Media NewsFriday, 18 November 2022, 17:000

As a result of the Autumn Statement, the Institute for Fiscal Studies (IFS) has concluded that higher taxes are “likely to remain” for the foreseeable future. According to the statement, the United Kingdom has entered a “new era” of greater taxes as the government strives to gather funds to bolster the economy and pay obligations....

Andrew Forrest’s $25bn rebuilding fund

Creative Media NewsFriday, 18 November 2022, 9:000

Andrew Forrest, an Australian mining magnate, has formed a $25 billion (£21 billion) investment fund to help rebuild war-ravaged Ukraine. Mr. Forrest and his wife have contributed $500 million to the fund, which according to its organizers might potentially reach $100 billion. The Ukraine Green Growth Initiative intends to invest in fundamental infrastructure, including electricity...

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