Business
business
Max Knoblauch
6/3/25

Nio first-quarter earnings whiff proves Chinese competition isn’t just for foreign automakers

Chinese luxury EV maker Nio reported its first-quarter results on Tuesday, missing Wall Street’s revenue and earnings expectations. Sales of $12 billion were below the consensus estimate, while the adjusted loss per share of $3.01 was much larger than the anticipated loss per share of $2.54 that analysts polled by Bloomberg had penciled in.

Shares of the automaker were down about 3% in premarket trading, but since rebounded to about flat.

Nio reported 23,231 deliveries in May, its third straight month of declines.

It’s been a steep drop-off for Nio in recent years as Chinese market leader BYD has grown. Nio has tried to separate itself through battery progress — one of its batteries allows for 650 miles on a single charge, the world’s longest range — but its shares are still down more than 30% over the past 12 months.

At its peak in early 2021, Nio had a market value of more than $98 billion. But years of intense competition from the likes of BYD and Tesla have sent that plunging. Its market cap is now about $7.9 billion.

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business
Nia Warfield
2h

Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority-cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming & studios, the other for its traditional cable/TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming & studios, the other for its traditional cable/TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

Max Knoblauch
9/10/25
As tariffs take root, August new vehicle prices climb by the most in more than 2 years

According to data from Cox Automotive, 17 vehicle brands raised prices of their new vehicles by more than 3% in August.

Ford Issues Recalls On Some Of Its Mach-E Mustangs And Aviators
Nia Warfield
9/10/25
Netflix taps Amazon to sell streaming ads in new partnership

Starting this fall, brands will be able to access Netflix’s premium ad slots using Amazon’s buying tech.

Netflix Headquarters
Millie Giles
WITHDRAWALS
9/10/25
Bank branches are still closing at breakneck speed in the US

Institutions like Chase and Wells Fargo closed 76 locations in just six weeks over the summer, per the OCC.

Indianapolis - March 2016: Chase Bank III
business
Nia Warfield
9/9/25

Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

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