BUSINESS

WARNER BROS DISCOVERY SUES NBA OVER REJECTED MEDIA RIGHTS BID

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Warner Bros Discovery (WBD.O) and its sports division, Turner Broadcasting System, filed a lawsuit on Friday against the National Basketball Association (NBA) in New York, challenging the league's refusal to accept its matching bid for media rights. The media company contends that the NBA's decision violates its agreement with Turner Broadcasting.

STRIPE'S VALUATION SOARS TO $70 BILLION AS SEQUOIA CAPITAL EYES SHARE PURCHASE

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In a significant development for the fintech industry, payment processing giant Stripe has reportedly reached a valuation of $70 billion. This comes as venture capital firm Sequoia Capital is poised to offer early investors an opportunity to cash out their shares.

SOUTHWEST AIRLINES TO START ASSIGNING SEATS

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Southwest Airlines plans to drop its tradition of more than 50 years and start assigning seats and selling premium seating for customers who want more legroom.

AT&T DISCLOSES MAJOR DATA BREACH AFFECTING CUSTOMER CALL RECORDS

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AT&T recently announced a significant data breach that impacted a vast majority of its wireless customers. The telecommunications giant revealed that unauthorized parties gained access to files containing call and text message records, raising concerns about customer privacy and data security.

ELON MUSK ANNOUNCES TESLA'S PRODUCTION OF HUMANOID ROBOTS STARTING NEXT YEAR

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Tesla CEO Elon Musk has announced that the electric car manufacturer will begin producing and using humanoid robots as early as next year. In a social media post, Musk revealed that these robots, named Optimus, will initially be deployed within Tesla's own operations, with plans to start selling them commercially by 2026.

IEA SAYS OIL DEMAND GROWTH IS SLOWING, MOSTLY IN CHINA

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The International Energy Agency trimmed its forecasts Thursday as it said world oil demand growth continues to slow and consumption in China dipped.

DISNEYLAND CELEBRATES 69TH ANNIVERSARY WITH SPECIAL $69 TICKET OFFER FOR ANAHEIM RESIDENTS

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Disneyland, in honor of its 69th anniversary, is extending a special offer to Anaheim residents, inviting them to experience the magic for as little as $69 with a one-day ticket. The limited-time promotion, announced on Wednesday, coincides with the park's historic opening on July 17, 1955, fulfilling Walt Disney's visionary dream. This landmark event saw Disneyland emerge as a beacon of joy, drawing over a million visitors within its initial weeks and now welcoming nearly 20 million guests annually across its global locations.

ARCHEGOS FOUNDER BILL HWANG GUILTY IN FRAUD CASE

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The founder of US investment firm Archegos, Bill Hwang, was found guilty Wednesday of fraud and market manipulation in a case focused on the fund's 2021 implosion that cost major banks billions of dollars.