Welcome back to
CHS opening that everyone
here. The New York Stock Exchange is the day at the NY CD
Way. The Rock Johnson celebrating the open
I here at the NYC. Let's talk more about that in today's top business headlines.
Why was doing the Rock Johnson here
with Tko celebrating the open.
Well, live wrestling is coming to Netflix and WW
raw will move to Netflix next year in the streaming services. Biggest splash yet
into live entertainment.
So according to reports,
the deal is 10 years and is estimated at more than $5 billion.
Netflix has found major success and
originally produced sports shows in recent years
with shows like Formula One Drive to survive full swing and quarterback.
Well, this is the first long term sports right deal.
And it's also worth noting that Netflix earnings,
they will be out after the bell today.
We will keep you posted on that
the
way the Rock Johnson here at the stock exchange because he's been added
as a board member to Tko, a publicly traded company,
which is the parent company of WW
and UFC. So a lot of happy faces down here to see the rock officially in person
elsewhere.
New research shows that the world's top hedge funds
had their most profitable year ever last year.
According to analysis by LCH investments,
they say that the top 20 fund managers made $67 billion in profits
and the previous high was 65 billion in 2021.
While the industry as a whole saw gains of $218 billion after fees,
record profits came amid last year's market rally
and TurboTax is under fire after the Federal trade Commission ruled yesterday
that it engaged in deceptive advertising by calling their services free.
Many customers were not in fact qualified to receive
free services to the FTC banned turbotax from using free
in advertisements unless it is universally true.
Now,
the FTC says that that company could instead disclose the
percentage of people that do qualify for the free service.
And TurboTax parent company in into it said in a
statement that the decision is deeply flawed and plans to appeal
last year in into it reached a settlement with all 50 states to pay
out millions of consumers for allegedly steering
low income Americans to use their paid service
instead of free one.
And turmoil
continues in the largest newsroom on the west coast.
The L A Times saw its executive editor leave earlier this month
and in recent days, two other senior managing editors have left the company
as uncertainty persists.
Staffers are now speaking out publicly and anonymously
about the level of chaos at the paper
on Friday Union employees took part in a one
day walkout as news of mass layoffs did loom large
managing editor Julia Turner reportedly reached out to
staff yesterday saying senior staff were quote,
advocating for editorial interest in conversations with the company
about the financial crisis we face end quote.
Now. Meanwhile, the owner of the L A Times Doctor Patrick Shux
has said that his commitment to the newspaper
hasn't wavered
and sticking on the west coast yesterday,
thousands of faculty members at California State University walked off the
job on the first day of classes for the spring semester.
Members of the California Faculty Association Union came together to
see wages that keep pace with the cost of living
and set a livable minimum standard for our lowest paid faculty.
Well, in addition to their fight for fair wages,
faculty members at CAL State are also seeking more manageable workloads,
additional mental health services for students at the school
and expanded paid parental leave. Now,
California State University is the biggest university system
in the US and maintains about 450,000 students.