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Rani Molla

Ford slashes EV spending, kills plans for electric SUV

Ford is changing the roadmap for its electric vehicle strategy to focus more on profitability, downshifting EV spending to 30% of its capex budget from 40%. The move includes shifting some battery production to the US to capitalize on tax credits, pivoting more toward lower-priced and longer range vehicles, and scrapping a three-row electric SUV.

“We loved our three-row crossover,” CEO Jim Farley said. “But there was just no way it would ever meet our criteria of being profitable.”

Previously the company estimated it could lose $5.5 billion on its EV segment this year. In a press release, Ford mentioned a version of the word “profit” 10 times. Farley recently said that the company wouldn’t change its EV strategy based on who wins the upcoming election.

Ford Pulls Back Further From EVs With $1.9 Billion SUV Pivot

Ford Pulls Back Further From EVs With $1.9 Billion SUV Pivot

Previously the company estimated it could lose $5.5 billion on its EV segment this year. In a press release, Ford mentioned a version of the word “profit” 10 times. Farley recently said that the company wouldn’t change its EV strategy based on who wins the upcoming election.

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Paramount Announces It's Cutting 2,000 Jobs

Paramount improved its Warner Bros. offer to $31 per share

WBD confirmed receipt of the new offer on Tuesday and said it would review the proposal.

Max Knoblauch8h
Vertical Aerospace Valo Launch

Archer Aviation sues rival Vertical, alleging air taxi design patent infringement

Archer Aviation alleged that Vertical’s Valo aircraft “mimics” its own Midnight aircraft.

Max Knoblauch12h
Hyunsoo Rim
UNDER PRESSURE
2/23/26
Anglo American halves De Beers’ value as the natural diamond slump deepens

The miner has now written down De Beers by roughly $6.8 billion over the past three years.

Diamond in the Jaws
business
Max Knoblauch

Paramount is expected to raise its Warner Bros. offer to $32 per share

Paramount’s seven-day window to talk to Warner Bros. Discovery about its best and final offer is set to end at 11:59 p.m. ET on Monday, and the company is expected to finally raise the per-share dollar amount of its bid.

According to reporting by Variety, Paramount’s revised offer is likely to arrive at $32 per share for the HBO and CNN parent.

Paramount’s last major revision to its offer came earlier this month, when it said it would cover the $2.8 billion breakup fee that WBD would owe Netflix in the event of that deal falling apart, and would pay shareholders a “ticking fee” of $0.25 per share for every quarter the deal hasn’t closed after the end of 2026.

Netflix’s next move will be determined by the response of Warner Bros.’ board. Per reporting by Reuters, the streamer has ample cash to increase its own offer for its streaming rival. Analysts at MoffettNathanson Research last week said they expect Netflix to walk away from Warner Bros. if Paramount’s bid comes in “well beyond” $32.

As of Monday at 9 a.m. ET, prediction markets speculating on which company will ultimately come out on top of the bidding war have Netflix at a 46% chance over Paramount’s 43% odds.

Also potentially affecting prediction markets is a Truth Social post by President Trump on Sunday, in which Trump wrote that Netflix must fire board member Susan Rice immediately or "pay the consequences."

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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Paramount Is Expected to Raise Price of Warner Bros. Discovery Bid. Will Netflix Walk Away?

Paramount Is Expected to Raise Price of Warner Bros. Discovery Bid. Will Netflix Walk Away?

Paramount’s last major revision to its offer came earlier this month, when it said it would cover the $2.8 billion breakup fee that WBD would owe Netflix in the event of that deal falling apart, and would pay shareholders a “ticking fee” of $0.25 per share for every quarter the deal hasn’t closed after the end of 2026.

Netflix’s next move will be determined by the response of Warner Bros.’ board. Per reporting by Reuters, the streamer has ample cash to increase its own offer for its streaming rival. Analysts at MoffettNathanson Research last week said they expect Netflix to walk away from Warner Bros. if Paramount’s bid comes in “well beyond” $32.

As of Monday at 9 a.m. ET, prediction markets speculating on which company will ultimately come out on top of the bidding war have Netflix at a 46% chance over Paramount’s 43% odds.

Also potentially affecting prediction markets is a Truth Social post by President Trump on Sunday, in which Trump wrote that Netflix must fire board member Susan Rice immediately or "pay the consequences."

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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business
Max Knoblauch

Microsoft makes dramatic shake-up to its gaming division as gaming CEO Phil Spencer and Xbox President Sarah Bond depart

Microsoft’s gaming division underwent a major shake-up on Friday, as the tech giant announced the departure of gaming CEO Phil Spencer, who led the division for 12 years and championed its Game Pass subscription service.

Xbox President Sarah Bond is also out, according to Spencer’s memo to employees.

Xbox has fallen significantly behind rivals Sony and Nintendo in recent years. Microsoft raised Xbox console prices twice last year and bumped subscription fees up 50%. In November, the console was even outsold (in unit sales) by the motion-controlled Nex Playground console.

The pair have overseen a shift at Xbox from standard consoles to an array of consoles, handhelds, and various devices and screens accessed via cloud gaming.

Spencer’s replacement as the head of gaming is Microsoft’s president of CoreAI product, Asha Sharma. In a memo to staff, Sharma made three commitments: great games, the “return of Xbox,” and to “invent new business models and new ways to play.”

Xbox chief Phil Spencer is leaving Microsoft

Xbox chief Phil Spencer is leaving Microsoft

Xbox has fallen significantly behind rivals Sony and Nintendo in recent years. Microsoft raised Xbox console prices twice last year and bumped subscription fees up 50%. In November, the console was even outsold (in unit sales) by the motion-controlled Nex Playground console.

The pair have overseen a shift at Xbox from standard consoles to an array of consoles, handhelds, and various devices and screens accessed via cloud gaming.

Spencer’s replacement as the head of gaming is Microsoft’s president of CoreAI product, Asha Sharma. In a memo to staff, Sharma made three commitments: great games, the “return of Xbox,” and to “invent new business models and new ways to play.”

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