Month: August 2024

Aug
17
2024
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By Lily Chang
Embracer Group records sharp decline in show revenues and finalizes exit from Russian market

Embracer Group records sharp decline in show revenues and finalizes exit from Russian market

Culture and Entertainment
Embracer Group, the entity that owns the rights to The Lord of the Rings, has reported a significant decline in revenue in its Entertainment and Services segment in the first quarter of 2024. The Sweden-based company reported entertainment sales of SEK 848 million ($81 million), down 54 percent from the same period last year, in the months of April through June. Total net sales fell 24% to SEK 7.93 billion, with declines recorded across its various divisions, including PC/Console Games, Mobile Games, and Tabletop Games. The company reported a loss before interest and taxes of SEK 1.44 billion, a stark…
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Aug
17
2024
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By Lily Chang
U.S. considers structural changes at Google after antitrust violations

U.S. considers structural changes at Google after antitrust violations

Science and Technology
WASHINGTON AND SAN FRANCISCO — Following a final court ruling that Google violated antitrust laws by monopolizing the online search market, the U.S. Department of Justice, along with state prosecutors, is actively considering remedies. Possible strategies could include segmenting core Google components, such as the Chrome web browser and Android operating system, according to several sources familiar with the matter, who asked not to be identified because of the sensitivity of the ongoing discussions. Further measures under consideration force Google to provide competitive access to its valuable data and dismantle agreements that establish Google as the default search engine on…
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Aug
17
2024
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By Lily Chang
The City of Angels prepares to receive the Olympic torch: A look at LA28

The City of Angels prepares to receive the Olympic torch: A look at LA28

Politics
Los Angeles is gearing up to host the 2028 Summer Olympics, marking its historic third time on the world stage. This article explores the city's plans and preparations for the upcoming games. Looking Back: Los Angeles' Olympic Legacy Los Angeles has a rich Olympic history, having successfully hosted the Games in 1932 and 1984. The 1932 Games, held during the Great Depression, featured iconic moments such as the gold medal performances of Babe Didrikson Zaharias. The 1984 Games, dubbed the "Good Olympics," were a financial and cultural triumph, with memorable events such as Rafer Johnson's torch lighting and a theme…
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Aug
17
2024
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By Lily Chang
Market rallies on softer inflation data, Dow jumps more than 350 points

Market rallies on softer inflation data, Dow jumps more than 350 points

Social Responsibility
Stocks rose on Tuesday, boosted by encouraging inflation data and a renewed sense of optimism among investors. The Dow Jones Industrial Average rose more than 350 points, bringing the broader market closer to its all-time high. The producer price index (PPI), a measure of wholesale inflation, came in lower than expected, boosting investor confidence and fueling expectations of a less hawkish monetary policy stance from the Federal Reserve. The positive PPI reading set the stage for Wednesday's release of the consumer price index (CPI), a closely watched gauge of headline inflation. The S&P 500 led the rally, gaining more than…
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