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Paramount Skydance is taking another step in its hostile takeover bid of Warner Bros. Discovery, saying Monday that it will name its own slate of directors before the next shareholder meeting of the Hollywood studio. Paramount also filed a suit in Delaware Chancery Court seeking to compel Warner Bros. to disclose to shareholders how it values its bid and the competing offer from Netflix. Warner Bros. is in the middle of a bidding war between Paramount and Netflix. Warners leadership has repeatedly rebuffed overtures from Skydance-owned Paramount and urged shareholders to back the sale of its streaming and studio business to Netflix for $72 billion. Paramount, meanwhile, has made efforts to sweeten its $77.9 billion hostile offer for the entire company. Last week, Warner Bros. Discovery said its board determined Paramounts offer is not in the best interests of the company or its shareholders. It again recommended shareholders support the Netflix deal. David Ellison, the chairman and CEO of Paramount Skydance, said Monday that it’s committed to seeing through its tender offer. We do not undertake any of these actions lightly,” he said in a letter to shareholders of Warner Bros. Warner Bros. has yet to schedule its annual meeting or a special meeting to consider the Netflix offer, and Paramount did not name any potential candidates for the board. Associated Press
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E-Commerce
Muhammad Ali once joked that he should be a postage stamp because thats the only way Ill ever get licked. Now, the three-time heavyweight champion’s quip is becoming reality. Widely regarded as the most famous and influential boxer of all time, and a cultural force who fused athletic brilliance with political conviction and showmanship, Ali is being honored for the first time with a commemorative U.S. postage stamp. As sort of the guardian of his legacy, Im thrilled. Im excited. Im ecstatic, Lonnie Ali, the champ’s wife of nearly 30 years, told The Associated Press. Because people, every time they look at that stamp, they will remember him. And he will be in the forefront of their consciousness. And, for me, that’s a thrill. This image released by the United States Postal Service shows a commemorative Muhammad Ali stamp featuring a 1974 Associated Press photo of Ali. [Photo: United States Postal Service via AP] A fighter in the ring and compassionate in life Muhammad Ali died in 2016 at the age of 74 after living with Parkinson’s disease for more than three decades. During his lifetime and posthumously, the man known as The Greatest has received numerous awards, including an Olympic gold medal in 1960, the United Nations Messenger of Peace award in 1998 and the Presidential Medal of Freedom in 2005. Having his face on a stamp, Lonnie Ali said, has a particular significance because it’s a chance to highlight his mission of spreading compassion and his ability to connect with people. He did it one person at a time, she said. And that’s such a lovely way to connect with people, to send them a letter and to use this stamp to reinforce the messaging in that life of connection. Stamp to be publicly unveiled A first-day-of-issue ceremony for the Muhammad Ali Forever Stamp is planned for Thursday in Louisville, Kentucky, the birthplace of the famed boxer and home to the Muhammad Ali Center, which showcases his life and legacy. That’s when people can buy Muhammad Ali Forever Stamps featuring a black-and-white Associated Press photo from 1974 of Ali in his famous boxing pose. Each sheet of 20 stamps also features a photo of Ali posing in a pinstripe suit, a recognition of his work as an activist and humanitarian. Twenty-two million stamps have been printed. Once they sell out, they won’t be reprinted, U.S. Postal Service officials said. The stamps are expected to generate a lot of interest from collectors and noncollectors. Because they’re Forever Stamps, the First-Class Mail postage will always remain valid, which Lonnie Ali calls an ultimate tribute. This is going to be a Forever Stamp from the post office, she said. It’s just one of those things that will be part of his legacy, and it will be one of the shining stars of his legacy, getting this stamp. Creating a historic stamp Lisa Bobb-Semple, the USPS director of stamp services, said the idea for a Muhammad Ali stamp first came about shortly after his death almost a decade ago. But the process of developing a stamp is a long one. The USPS requires people who appear on stamps to be dead for at least three years, with the exception of presidents. As the USPS was working behind the scenes on a stamp, a friend of Ali helped to launch the #GetTheChampAStamp campaign, which sparked public interest in the idea. We are really excited that the stars were able to align that allowed us to bring the stamp to fruition, said Bobb-Semple, who initially had to keep the planned Ali stamp secret until it was official. Its one that weve always wanted to bring to the market. Members of the Citizen Stamps Advisory Committee, appointed by the postmaster general, are responsible for selecting who and what appears on stamps. Each quarter, they meet with Bobb-Semple and her team to review suggestions submitted by the public. There are usually about 20 to 25 commemorative stamp issues each year. Once a stamp idea is selected, Bobb-Semple and her team work with one of several art directors to design the postage. It then goes through a lengthy final approval process, including a rigorous review by the USPS legal staff, before it can be issued to the public. Antonio Alcalá, art director and designer of the Muhammad Ali stamp, said hundreds of images were reviewed before the final choices were narrowed to a few. Finally, the AP image, taken by an unnamed photographer, was chosen. It shows Ali in his prime, posing with boxing gloves and looking straight into the camera. Alcalá said there’s a story behind every USPS stamp. Postage stamps are miniature works of art designed to reflect the American experience, highlight heroes, history, milestones, achievements and natural wonders of America, he said. The Muhammad Ali stamps are a great example of that. A candid figure on war, civil rights and religion Beyond the boxing ring, Ali was outspoken about his beliefs when many Black Americans were still fighting to be heard. Born Cassius Clay Jr., Ali changed his name after converting to Islam in the 1960s and spoke openly about race, religion and war. In 1967, he refused to be inducted into the U.S. Army, citing his religious beliefs and opposition to the Vietnam War. That stance cost Ali his heavyweight championship title and barred him from boxing for more than three years. Convicted of draft evasion, he was sentenced to five years in prison but remained free while appealing the case. The conviction was overturned by the U.S. Supreme Court in 1971, further cementing his prominence as a worldwide figure. Later in life, Ali emerged as a global humanitarian and used his fame to promote peace, religious understanding and charitable causes, even as Parkinsons disease limited his speech and movement. Ali’s message during a time of strife The commemorative postage stamp comes at a time of political division in the U.S. and the world. Lonnie Ali said if her husband were alive today, he’d probably block a lot of this out and continue to be a compassionate person who connects with people every day. That approach, she said, is especially important now. We have to mobilize Muhammads life and sort of engage in the same kinds of acts of kindness an compassion that he did every day, she said. Susan Haigh, Associated Press
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E-Commerce
On the red carpet of the 2026 Golden Globes, several celebrities used their garments as vehicles of protest against the Immigration and Customs Enforcement (ICE) agency and spoke openly about their dissent against the current Trump administration. But on the events actual stage, political commentary was noticeably absent compared with years past. Popular American awards shows have long been criticized for primarily uplifting the voices of white, male, affluent creators. But, equally, the stages of these events have been used as platforms for public figures to speak out about current politics and social justice. In 1973, Marlon Brando famously rejected his best actor Oscar statuette at the Academy Awards and sent Sacheen Littlefeather, a Native American woman, to deliver a speech on his behalf. More recently, in 2018, Seth Meyers made numerous jokes at Trumps expense at the Golden Globes. This year, though, political commentary on the Golden Globes stage was kept to a few passing comments and oblique references. It’s a shift that reflects a broader trend of Hollywoods elite seemingly turning a blind eye to the current state of affairs during Trumps second term. “The most important thing in the world” To glean any kind of political statement from last nights show, one might have needed to perform a close reading. Comedian Nikki Glasser opened the ceremony with a vague allusion to pretty much everything happening outside of Hollywood, calling the Golden Globes without a doubt the most important thing happening in the world right now. Others followed with similarly discreet jabs, including one comment from director Judd ApatowI believe were in a dictatorship nowneatly sandwiched within a stream of jokes. Even when the film One Battle After Anothera satire about revolution that critiques anti-immigration groupswon multiple awards, no statement was made directly about the current administration. Compare that tenor to 2017, when, just months after Trump was elected for his first term, one of the Golden Globes’ most viraland impactfulmoments came when Meryl Streep used her acceptance speech to publicly call out the president. Hollywood is crawling with outsiders and foreigners, and if we kick them all out, well have nothing to watch except football and mixed martial artswhich are not the arts,” Streep said. Her speech came years before Trumps National Guard ever brutalized protestors in the streets, before the Department of Homeland Security separated thousands of children from their parents, before ICE agents starting showing up at schools and community centers across the country, and before agent Jonathan Ross shot and killed Minneapolis resident Renee Nicole Good just last week. Yet, somehow, it would have looked out of place at last nights comparatively apolitical event. “Of course, this is for the mother” To be fair, several celebrities did make an effort to speak up. Stars including Wanda Sykes, Natasha Lyonne, and Jean Smart wore pins reading Be Good as a reference to Renee Nicole Good. Others sported pins with the phrase Ice Out. In a preshow interview with Variety, Sykes explained her pin: Of course this is for the mother who was murdered by an ICE agent, and its really sad.” Mark Ruffalo also spoke more directly, telling Entertainment Tonight: Weve got, literally, storm troopers running around terrorizing. And as much as I love all this, I dont know if I can pretend like this crazy stuff isnt happening.” In another interview with USA Today, Ruffalo added: “[Trump is] a pedophile. He’s the worst human being. If we’re relying on this guy’s morality for the most powerful country in the world, then we’re all in a lot of trouble.” But, notably, these comments were shared on the red carpet, to be consumed by readers at disparate news outletsrather than on the main stage itself, to millions of viewers at home. When the evenings stars got their moments in the limelight, they largely opted to stay quiet. “Am I brave, or are they cowards?” The literal sidelining of political commentary at the 2026 Golden Globes may be disappointing to fans who want celebrities to speak out about injustices, but it’s not surprising, given Hollywoods about-turn since Trumps second term began. Celebs like Jennifer Lawrence, Robert De Niro, Barry Jenkins, and others who once strongly criticized the president have lately been quiet. Lawrence herself recently spoke on this change, stating in an interview with The New York Times The Interview podcast that weve learned election after election, celebrities do not make a difference whatsoever on who people vote for. But as Refinery 29 aptly observes in a recent article, thats not entirely true. Taylor Swifts endorsement of Kamala Harris ahead of the 2024 presidential election drove more than 400,000 people to the vote.gov site in 24 hours, it points out. And Bridgerton actress Nicola Coughlans advocacy for Palestine aid organizations has helped raise more than $2 million to date. Speaking to Refinery 29 after this years Golden Globes show, actress and activist Jameela Jamil refuted the idea that her own advocacy is brave. Am I brave, or are they cowards? she said. I think theyre being greedy and weird and disappointing. Look at the billions of eyeballs on all of us collectivelythere should be no outliers of the industry who are the outspoken ones . . . out there on their own with this amount of privilee.
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E-Commerce
Shares of the budget airline Sun Country were flying today after the carrier announced an upcoming merger with Las Vegas-based competitor Allegiant. In a press release published on January 11, Allegiant shared its plan to acquire Minneapolis-based Sun Country in a $1.5 billion cash and stock transaction, which is expected to close in the second half of 2026. Per the release, the merger will bring together a shared customer pool of nearly 22 million annual fliers across 175 cities and more than 650 routes. It will also give Allegiant access to Sun Countrys multi-year partnership delivering packages with Amazon Prime Air, which Allegiant CEO Greg Anderson told CNBC was a major part of the deal. News of the acquisition comes as other budget carriers, like Spirit Airlines, struggle to compete in an increasingly exclusive airline industry. As of market close on Monday, Allegiants stock was down about 6%, whereas Sun Countrys shares soared by over 10%. Budget air carriers fight an uphill battle For small, low-cost air carriers, profitable business is a turbulent affair. According to October data from the U.S. Bureau of Transportation, a whopping 68.5% of total airline market share in the U.S. is cornered by four major companies: Delta, American, Southwest, and United. As those four powerhouses leverage their outsized financial power to battle it out over offering more and more premium perks for fliers, smaller companies are left struggling to keep up. One example of this pattern is Spirit Airlines, the beleaguered carrier that has filed for Chapter 11 bankruptcy twice since November 2024. Spirit hasnt made a profit since 2019indeed, as of late 2024, it had lost more than $2.4 billion since that time as it was unable to recover from pandemic-based losses. The company attempted to lessen its debt load through a proposed sale to JetBlue, but that ultimately fell through in 2022 when it was challenged by the Department of Justice. In recent months, Spirit has announced its second bankruptcy, canceled all routes to 12 major cities, and furloughed 1,800 flight attendants. While corporate mishandling is certainly partially responsible for Spirits troubles, its difficulties reflect larger hurdles for small air carriers in an industry where resources have become increasingly siloed. One way to address those issues is, as demonstrated by Spirits attempted sale to JetBlue, to merge with another company. Now, Allegiant and Sun Country appear to be attempting something similar by pooling their aircrafts, routes, and flier bases to meet traveler demands. The combination will create a leading leisure-focused U.S. airline, the press release reads, expanding service to more popular vacation destinations across the United States, as well as international destinations, and providing more people with access to affordable, convenient air travel.
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E-Commerce
The Justice Department has threatened the Federal Reserve with a criminal indictment over the testimony of Fed Chair Jerome Powell this summer regarding its building renovations, Powell said over the weekend. It is a major escalation by the administration after repeated attempts by President Donald Trump to exert greater control over the independent institution. Trump has repeatedly attacked Powell for not cutting the short-term interest rate, and even threatened to fire him. Powells caution has infuriated Trump, who has demanded the Fed cut borrowing costs to spur the economy and reduce the interest rates the federal government pays on its debt. That anger has not subsided even after the Fed cut interest rates in three of the final four months of 2025. Trump has also accused Powell of mismanaging the U.S. central banks $2.5 billion building renovation project. In a sharp departure from his previous responses to attacks by Trump, Powell described the threat of criminal charges as simple pretexts to undermine the Feds independence when it comes to setting interest rates. While there has been a limited response from Republican lawmakers, there have been several early breaks with the party. If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none, said North Carolina Sen. Thom Tillis, who sits on the Banking Committee, which oversees Fed nominations. Trump is already seeking to fire Federal Reserve Governor Lisa Cook over unproven allegations that she committed mortgage fraud. The allegation was made over the summer by Bill Pulte, a Trump appointee to the Federal Housing Administration. Here are some reasons why the independence of the U.S. Federal Reserve is guarded so closely. Why the Fed’s independence matters The Fed wields extensive power over the U.S. economy. By cutting the short-term interest rate it controls which it typically does when the economy falters the Fed can make borrowing cheaper and encourage more spending, accelerating growth and hiring. When it raises the rate which it does to cool the economy and combat inflation it can weaken the economy and cause job losses. Economists have long preferred independent central banks because they can more easily take unpopular steps to fight inflation, such as raise interest rates, which makes borrowing to buy a home, car, or appliances more expensive. The importance of an independent Fed was cemented for most economists after the extended inflation spike of the 1970s and early 1980s. Former Fed Chair Arthur Burns has been widely blamed for allowing the painful inflation of that era to accelerate by succumbing to pressure from President Richard Nixon to keep rates low heading into the 1972 election. Nixon feared higher rates would cost him the election, which he won in a landslide. Paul Volcker was eventually appointed chair of the Fed in 1979 by President Jimmy Carter, and he pushed the Fed’s short-term rate to the stunningly high level of nearly 20%. (It is currently 3.6%, the lowest it has been in nearly three years.) The eye-popping rates triggered a sharp recession, pushed unemployment to nearly 11%, and spurred widespread protests. Yet Volcker didn’t flinch. By the mid-1980s, inflation had fallen back into the low single digits. Volcker’s willingness to inflict pain on the economy to throttle inflation is seen by most economists as a key example of the value of an independent Fed. Investors are watching closely An effort to fire Powell would almost certainly cause stock prices to fall and bond yields to spike higher, pushing up interest rates on government debt and raising borrowing costs for mortgages, auto loans, and credit card debt. The interest rate on the 10-year Treasury is a benchmark for mortgage rates. All major U.S. markets slid Monday at the opening bell, bond yields edged higher and the value of the U.S dollar declined. Most investors prefer an independent Fed, partly because it typically manages inflation better without being influenced by politics, but also because its decisions are more predictable. Fed officials often publicly discuss how they would alter interest rate policies if economic conditions changed. If the Fed was more swayed by politics, it would be harder for financial markets to anticipate or understand its decisions. While the Fed controls a short-term rate, financial markets determine longer-term borrowing costs for mortgages and other loans. And if investors worry that inflation will stay high, they will demand higher yields on government bonds, pushing up borrowing costs across the economy. In Turkey, for example, President Recep Tayyip Erdogan forced the central bank to keep interest rates low in the early 2020s, even as inflation spiked to 85%. In 2023, Erdogan allowed the central bank more independence, which has helped bring down inflation, but short-term interest rates rose to 50% to fight inflation, and remain high. The Fed’s independence doesn’t mean it’s unaccountable Fed chairs like Powell are appointe by the president to serve four-year terms, and have to be confirmed by the Senate. The president also appoints the six other members of the Fed’s governing board, who can serve staggered terms of up to 14 years. Those appointments can allow a president over time to significantly alter the Fed’s policies. Former president Joe Biden appointed four of the current seven members: Powell, Cook, Philip Jefferson, and Michael Barr. A fifth Biden appointee, Adriana Kugler, stepped down unexpectedly on Aug. 1, about five months before the end of her term. Trump has already nominated his top economist, Stephen Miran, as a potential replacement, though he will require Senate approval. Cook’s term ends in 2038, so forcing her out would allow Trump to appoint a loyalist sooner. Trump will be able to replace Powell as Fed chair in May, when Powells term expires. Yet 12 members of the Feds interest-rate setting committee have a vote on whether to raise or lower interest rates, so even replacing the Chair doesnt guarantee that Fed policy will shift the way Trump wants. Congress, meanwhile, can set the Fed’s goals through legislation. In 1977, for example, Congress gave the Fed a dual mandate to keep prices stable and seek maximum employment. The Fed defines stable prices as inflation at 2%. The 1977 law also requires the Fed chair to testify before the House and Senate twice every year about the economy and interest rate policy. Could the president fire Powell before his term ends? The Supreme Court last year suggested in a ruling on other independent agencies that a president can’t fire the chair of the Fed just because he doesn’t like the chair’s policy choices. But he may be able to remove him for cause, typically interpreted to mean some kind of wrongdoing or negligence. It’s a likely reason the Trump administration has zeroed in on the building renovation, in hopes it could provide a for cause pretext. Still, Powell would likely fight any attempt to remove him, and the case could wind up at the Supreme Court. Christopher Rugaber, AP economics writer
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E-Commerce
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