Netflix shares jump after walking away from Warner Bros Discovery deal, clearing way for Paramount – business live

Good morning, and welcome to our rolling coverage of business, the world economy and the financial markets.Every good drama needs a few twists and turns. And the race for ownership of Warner Bros Discovery has certainly delivered.Overnight, Netflix has walked way from the deal, declining to match a new, improved takeover offer from its rival, Paramount Skydance.Netflix’s hopes were blown away by Paramount lifting its offer for the whole of Warner Bros to $31 per share, beating Netflix’s bid of $27

Ocado failing to deliver on its potential as one of UK’s great technology hopes

Only six years ago, the boss of Ocado Group was writing the obituary for supermarkets as he predicted that a surge in online grocery shopping during the pandemic had brought forward the hi-tech future.“Not every store will disappear, but there will be a dramatic shift,” Tim Steiner said at the height of the Covid pandemic, when shopping from the sofa became the only option for many.Fast-forward to today and the prospect seems distant as the UK grocery technology group again slashes jobs as it battles heavy losses.Shares in the group slumped more than 6% to 220p on Thursday, as it revealed worse than expected annual losses and 1,000 job cuts, half of which are in research and development. At that price, shares are 22% above Ocado’s stock market float price of 180p in 2010 and a staggering 90% lower than their pandemic peak

Woman at heart of US trial says she was addicted to social media at age six

The young woman at the heart of the landmark trial about the addictive nature of social media testified for the first time on Thursday, saying she got hooked on YouTube starting at age six and Instagram at nine. By the time she was 10, she said, she had become depressed and was engaging in self-harm.The woman, who is now 20 and known by her initials KGM, is the lead plaintiff in an expansive lawsuit against YouTube and Meta, which owns Instagram and Facebook. The crux of the case alleges social media companies intentionally create addictive products, leading to mental health issues in young people.KGM testified on Thursday that her use of social media made her anxious and insecure, and features like beauty filters distorted her self-image

Riaz Hasan obituary

My father, Riaz Hasan, who has died aged 87, was a water resources engineer with a distinguished career working across 40 countries – in the 1970s with the British firm Halcrow and, from the 80s, at the UN and the World Bank.Originally from Hyderabad, Riaz arrived in the UK in 1965 with £3 and an A–Z, invited, like many engineers in India at that time, by the government. After completing a master’s degree in water resources at Bradford University, where he developed a love of Yorkshire pudding and received his degree from Harold Wilson (which he described as a real privilege), he embarked on his career designing life-saving, long-term water and food solutions for the most vulnerable and those affected by war, famine and natural disasters.Born in the small town of Warangal, near Hyderabad, to Mohammed, an English professor, and his wife, Khadija, Riaz went to Nizam college. He did his engineering degree at Osmania University, graduating in 1960, then got his first job at the Central Water Power Commission (CWPC) in Delhi

Australia v India: second women’s one-day cricket international – live

A perfect yorker from Kashvee catches Healy’s back foot and deflects on to the stumps. A disappointing way to go for the captain, but a great ball from Kashvee – her first ODI wicket.4th over: Australia 20-0 (Healy 6, Litchfield 14)Healy gets her first look at the strike since the first over and starts by punching one over midwicket – but not very far over! It just evades a diving Jemimah to run away for four. She scales back her risk-taking endeavours after that, with three dot balls in a row before a nice pull shot finds the gap and she gets Litchfield back on strike for a harmless defensive shot to end the over.3rd over: Australia 15-0 (Healy 1, Litchfield 14)Kashvee resumes her spell after a tight first over

Birmingham City’s owners explore moving into rugby union and buying Prem franchise

Birmingham City’s owner, Knighthead Capital Management, is among a number of American investors exploring the purchase of potential new franchises in Prem Rugby before a radical shake-up of the sport due to be ratified by the Rugby Football Union on Friday.The RFU council will vote at Twickenham on proposals to ringfence the 10-team Prem with no promotion or relegation until 2030, when a staged expansion is planned, beginning with the addition of two more teams.While former top-flight sides such as London Irish, Wasps and Worcester Warriors as well as ambitious Champ clubs like Ealing Trailfinders will be given the opportunity to apply, Prem Rugby is also keen to secure new additions. New York-based merchant bank, The Raine Group, and Deloitte have been engaged with a brief to discuss franchise opportunities with potential new owners, as well as bringing new investment into Prem Rugby itself.Knighthead is understood to have expressed interest in acquiring a franchise as the next stage of its multisport strategy that has seen it buy a 49% share in the Birmingham Phoenix Hundred franchise, and a majority share in Netball Super League club Birmingham Panthers