Author: Press Room

Stay informed with free updatesSimply sign up to the Media myFT Digest — delivered directly to your inbox.A US judge has temporarily blocked the launch of a sports streaming service formed by Disney’s ESPN, Warner Bros and Fox, finding that it was likely to “substantially lessen competition” in the market. The service, dubbed Venu, was expected to launch later this year. But FuboTV, a sports-focused streaming platform, filed an antitrust suit in February to block it, arguing its business would “suffer irreparable harm” as a result.On Friday, US District Judge Margaret Garnett in New York granted an injunction to halt the launch of the service while…

The first presidential debate of 2024 upended the race for the White House, effectively terminated the reelection aspirations of President Joe Biden and perhaps forever altered the direction of the country. With so much potentially at risk at next month’s debate – which will be the first time former President Donald Trump and Vice President Kamala Harris encounter each other at close range – the planning for the high-stakes showdown has already begun. Harris held her first formal debate training session earlier this week at Howard University, the historically Black college in Washington, DC, she attended nearly four decades ago, and she is working closely with a seasoned Trump stand-in. Trump, meanwhile,…

Retirees with more guaranteed lifetime income spend more in retirement and do so without worrying about running out of money. The additional spending is meaningful, according to researchers David Blanchett and Michael Finke, who recently updated research they produced in 2021. Retirees who receive steady income from Social Security, pensions, and annuities spend about twice as much as retirees who have the same amount of savings positioned in the investment markets. The researchers found that most people think differently about guaranteed income than they do about money in savings and investments. About 60% of retirees surveyed said they’re more comfortable…

Mortgage rates moved up a bit this week but are still at the lowest point they have been in more than a year. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage edged up to 6.49% this week from 6.47% last week. The average rate on a 30-year loan was 7.09% a year ago. “While rates increased slightly this week, they remain more than half a percent lower than the same time last year,” said Sam Khater, Freddie Mac’s chief economist. “In 2023, the 30-year fixed-rate mortgage nearly hit 8…

President Joe Biden’s administration has asked the Supreme Court to lift a block on the Saving on a Valuable Education (SAVE) plan, which is designed to ease the burden of student loan debt for millions of borrowers. Biden introduced SAVE after the Supreme Court struck down Biden’s student loan forgiveness plan. The White House said that the SAVE plan could lower borrowers’ monthly payments to zero dollars, reduce monthly costs in half and save those who make payments at least $1,000 yearly. Additionally, borrowers with an original balance of $12,000 or less will receive forgiveness of any remaining balance after…

Palo Alto Networks stock has been on a tear into Monday’s fourth-quarter earnings report, entering Friday’s session up nearly 17% since Aug. 5 compared to a roughly 7% gain for the S & P 500 . Translation: Investor expectations of the cybersecurity leader are high. Is this the quarter the company gets back to beating Wall Street estimates — revenues of $2.16 billion and earnings per share of $1.41, per LSEG — and raising its guidance? We sure hope so. But considering the stock’s big move since we bought more around $303 a share Aug. 2, we downgraded Palo Alto…

Billionaire Republican megadonor Miriam Adelson appears to have a blank check policy when it comes to her support of former President Donald Trump, as she aims to help get him back to the White House.Adelson’s political aide Andy Abboud was overheard telling attendees at a campaign event at Trump’s golf club in Bedminster, N.J. on Thursday that whatever Trump needs from Adelson, he’s going to get in support from his boss, according to Abboud and a person with direct knowledge of the matter.This person and one other in this story were granted anonymity in order to speak freely about private…

A federal judge on Friday temporarily blocked the launch of Venu Sports, the forthcoming joint sports streaming venture from Warner Bros. Discovery, Disney and Fox Corporation, dealing a major blow to the effort. The decision follows a request by Fubo, a smaller rival sports streaming service, for a preliminary injunction against the forthcoming streamer, halting its planned launch just weeks before the start of the NFL season. “It appears to the Court that Fubo is likely to succeed on its claims that by entering into the [joint venture], the [joint venture] Defendants will substantially lessen competition and restrain trade in…

Globant S.A. (NYSE:GLOB) Q2 2024 Earnings Conference Call August 15, 2024 4:30 PM ET Company Participants Arturo Langa – IRMartin Migoya – Co Founder and CEODiego Tartara – Chief Technology OfficerPatricia Pomies – COOJuan Urthiague – CFO Conference Call Participants Tien-Tsin Huang – JP MorganJim Schneider – Goldman SachsMaggie Nolan – William BlairBryan Bergin – TD CowenJason Kupferberg – Bank of AmericaJonathan Lee – GuggenheimDivya Goyal – ScotiabankArvind Ramnani – Piper SandlerSean Kennedy – MizuhoSurinder Thind – JefferiesLeonardo Olmos – UBSThiago Kapulskis – Itau Operator Good day and welcome to Globant’s Second Quarter 2024 Earnings Conference Call. I am Arturo…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseDonald Trump has dismissed calls for him to rein in personal attacks on Kamala Harris, insisting in a press conference lasting more than an hour in New Jersey that he was “leading in the polls” and would defeat the vice-president by a wide margin in November.Senior Republicans have urged the former president to tone down his rhetoric against Harris, who has opened up a lead in this year’s White House race since replacing Joe Biden as the Democratic party’s…