A Cypriot, ’s unexpected journey to the Emmys
Fact: Martinos Aristidou is the first Cypriot to be nominated for a Daytime Emmy Award and the only Cypriot with voting privileges at the Emmys.
disney
Sony shares leap 12 per cent on buyback and dividend plans, higher profit outlook
Shares in Sony Group jumped 12 per cent after pledging to boost shareholder returns and forecasting higher annual profit with a boost from its image sensors business. Sony will spend up to 250 billion yen on a share buyback and gradually increase dividends with a target of a 40 per cent total payout ratio by the financial year ending March 2027. Sony will allocate 1.8 trillion yen over the next three years to growth investments and share repurchases. Sony also plans to conduct a five-for-one stock split to expand its investor base.
TV upfront presentations clouded by digital video ad supremacy
Digital video advertising now surpasses spending on traditional television ads, with tech players like Amazon impacting media companies’ financial results. Ad companies are shifting their focus towards digital platforms like Netflix, TikTok, and YouTube TV, with digital video expected to reach .9 billion in U.S. ad spending by 2024. Traditional media companies are experiencing declines in television ad revenue, prompting them to develop new advertising tools to reach consumers across various platforms. Disney and Warner Bros Discovery are combining streaming services to compete with digital rivals like Amazon and Netflix, while media companies are partnering with tech giants like Google to sell more ads programmatically.
Warner Bros Discovery squeezed by studio slump, weak ad spending
Warner Bros Discovery posted a larger than expected quarterly loss due to slumping advertising sales at its cable TV unit and fallout from Hollywood strikes and poor demand for a “Suicide Squad” game.
‘Kingdom of the Planet of the Apes’ cast harnessed their inner apes
Freya Allan arrived on set for the first day of filming “Kingdom of the Planet of the Apes” and was surprised to see her co-star Owen Teague and other cast members already in costume as apes. The film is the 10th in the franchise and follows a young chimp named Noa as he tries to protect his clan from a corrupt monarch named Proximus Caesar. The actors attended “ape school” to prepare for their roles, with each learning about the movements and behaviors of different types of apes. The movie is set to be released in theaters on Friday.
Focus on earnings and data, gold continues retracement,
– Investors and traders are focusing on earnings and economic data, with the Dow Jones industrial average posting its fourth consecutive winning session.
– European markets are trading higher, with retail sales data in Europe showing better consumer confidence than expected.
– Traders are awaiting news from the Bank of England on Thursday regarding monetary policy, with expectations of no interest rate change but potential for a more hawkish stance.
– In the US, focus is on earnings, with Disney in the spotlight. Concerns are raised about their streaming business in a competitive landscape.
– Gold prices are dropping as the dollar index gains strength, with uncertainty about Fed’s interest rate decisions.
– Weekly jobless claims on Thursday will impact gold prices and Fed’s monetary policy decisions.
Corporate Taxes Before and After the Trump Tax Law
– America’s largest, consistently profitable corporations saw their effective tax rates fall from an average of 22.0 percent to an average of 12.8 percent after the Trump tax law went into effect in 2017.
– The 296 largest and consistently profitable U.S. corporations paid 0 billion less in taxes from 2018 to 2021 compared to before the Trump tax law.
– While profits for these corporations rose by 44 percent after the Trump tax law, their federal tax bills dropped by 16 percent.
– The number of corporations paying tax rates of less than 10 percent increased from 56 to 95 after the Trump tax law.
– Many well-known corporations, including Walmart, Verizon, Disney, and Meta, had the largest tax reductions after the Trump tax law.
FACTBOX-Who are the mega-rich donors backing Trump?
Mega-rich donors have emerged as key backers of Republican presidential candidate Donald Trump, collectively donating more than million to support his candidacy against Democratic incumbent Joe Biden.
Netflix slides as move to end sharing user count sparks growth worries
Netflix’s decision to stop sharing subscriber additions and average revenue per member from 2025 has caused concern among investors about growth peaking in some markets. The streaming pioneer’s stock fell 6.5% in early trading, leading to a potential market valuation drop of over billion. This move comes as Wall Street analysts anticipate subscriber growth for Netflix in North America and Europe to saturate. Despite this, Netflix added 9.3 million new customers in the first quarter, bringing the global total to 269.6 million at the end of March. The decision to withhold key metrics has sparked debate among investors about the streamer’s ultimate potential in the current landscape.
Netflix slides as move to end sharing user count sparks growth worries
Netflix shares fell on Friday after the company announced it would stop sharing subscriber additions and average revenue per member from 2025, leading to doubts about growth peaking in some markets.