DJ WEEKEND OVERVIEW Company/15. and July 16, 2023
The top corporate stories from the Dow Jones Newswires weekend programming.
Erwe Immobilien agrees on haircut
Erwe Immobilien AG has agreed on a haircut with the elected joint representative of the bondholders. The company announced that the nominal value of the 2019/2023 bond would be reduced to EUR 7 million.
Twitter loses half of its advertising revenue
Twitter has lost half of its ad revenue, according to owner Elon Musk, as competition intensifies between the microblogging platform and meta-competitor Threads. Musk said Twitter still has negative cash flow due to its high debt burden. The social media site needs to be cash flow positive “before we can afford the luxury of doing anything else,” Musk said in a tweet.
US actors picket outside film studios in Los Angeles
On the first day of their strike, Hollywood actors and actresses picketed outside major US film studios in Los Angeles. Hundreds of strikers marched with placards to the Netflix building on legendary Sunset Boulevard and in front of the HBO, Amazon and Paramount studios on Friday.
Microsoft takes an important step closer to acquiring Activision
An appeals court on Friday rejected a recent attempt by the US antitrust authority FTC to prevent Microsoft’s planned takeover of video game producer Activision Blizzard for 75 billion US dollars. In a brief ruling, the Ninth Circuit Court of Appeals denied the FTC’s request for an injunction blocking the merger of Microsoft and Activision.
United pays pilots up to 40 percent higher salaries
The US airline United Airlines Holdings has provisionally agreed with its pilots on salary increases of 34.5 to around 40 percent. Airlines are currently struggling with a pilot shortage. The settlement underscores the new momentum for pilots in the now-booming airline industry, as the Delta Air Lines and American Airlines Group pilot unions also signed new collective bargaining agreements that include significant pay increases and other benefits.
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(END) Dow Jones Newswires
July 16, 2023 11:30 AM ET (3:30 PM GMT)
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2023-07-16 16:04:32
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:format(jpeg):focal(1315x1125:1325x1115)/cloudfront-us-east-1.images.arcpublishing.com/gfrmedia/MWDEH2VJPNGJNFIYYM2HSEB4MY.jpg "Entertainment Industry Grinds to a Halt as Actors and Writers Strike for New Contracts")
