Economy

Associated media - Associated media Terms of the agreement were not disclosed. Sony bought Alamo from Altamont Capital Partners and Fortress Investment Group, as well as the chain’s founder, Tim League. Mr League said the cinema chain was “more than thrilled” with the deal. This comes at a time of financial difficulty for the Alamo and the film industry as a whole. Many of Alamo’s franchised locations filed for bankruptcy and closed this month, making Sony’s move a potential lifeline for the struggling chain. Alamo filed for Chapter 11 bankruptcy in 2021 before a private equity firm intervened. The theaters…

Linked media - Linked media Summer at the spa – a ritual that has lasted nearly 200 years – began early in Saratoga Springs, New York, with the third leg of the Triple Crown, the Belmont Stakes, held Saturday for the first time at Saratoga Race Course , a revered relic where elites and others mingle, but horses rule. Broadway, the city’s central thoroughfare, was abuzz with activity. Lines for picnic tables along the trail formed before dawn. A new color, Belmont green, blends with the track’s signature red and white trim. Owners, trainers, riders and loyalists all hailed the…

Associated media - Connected media Tesla could use shareholder approval to support Musk’s pay case in court. If it wins the vote on Musk’s compensation, the company is likely to turn to Chancellor Kathaleen McCormick, the Delaware Court of Chancery judge who rejected the compensation plan, and argue that shareholders, armed with information she says don’t had had when they approved the package, they ratified the proposal again. This, according to the company, makes the issue moot. If McCormick were to declare the plan acceptable, it is likely that the plaintiffs who initially sued will appeal to the Delaware Supreme…

Related media - Related media The oil industry in the United States, the world’s largest producer of crude oil, is made up of many small and medium-sized oil companies, ranging from family businesses with a few wells in one state to global giants like Exxon Mobil. Wall Street values ​​ConocoPhillips at about $140 billion, or about 10 times larger than Marathon Oil but about a quarter of Exxon. Oil companies have completed some of the largest acquisitions in the past year despite regulatory scrutiny from the Biden administration and oil market volatility. U.S. giants have capitalized on record profits, giving…

Connected media - Linked media Ms. Bongiorno and Mr. Chaudhri said Humane had been working on problems with the device. The startup has added more voice navigation options to the device, as well as sound effects, to make it easier to use. The updates include the integration of OpenAI’s latest chatbot system, GPT-4o, designed to improve battery life by 25% and reduce device response time to two seconds. Those updates addressed questions raised by auditors, the founders said. Ms. Bongiorno called the reviews and feedback “a gift given to us.” Companies are interested in the device, he added. Within 48…

Associated media - Related media The humiliation of Modi’s party resonates in part as an expression of popular frustration that India remains a land of economic peril for hundreds of millions of people, as well as a country characterized by startling contrasts in wealth. In big cities, five-star hotels boasting lavish spas look down on teeming, unplumbed slums. In rural areas, malnutrition prevails under many roofs and families struggle to find the money to send their children to school. Even though its working-age population numbers about a billion, India has only 430 million jobs, according to the Center for Monitoring…

Connected media - Associated media For months, Nvidia, Microsoft and OpenAI have largely escaped the brunt of the Biden administration’s regulatory scrutiny. But things started to change when generative AI, capable of producing human-like text, photos, video and audio, hit the scene in late 2022 and created a frenzy in the industry. Regulators have recently signaled that they want to get ahead of developments in artificial intelligence. In July, the FTC opened an investigation into whether OpenAI had harmed consumers through data collection. In January, the FTC also launched a broad investigation into strategic partnerships between tech giants and AI…

Related media - Associated media George Bochetto, a Philadelphia lawyer who said he owned the house with his late partner’s widow, bought it in 2016 for $60,000. “It was abandoned for many years. He was run down,” Mr. Bochetto said in an interview Tuesday. He marveled at how “this little house on the western edge of Louisville, modest as it was, could produce a magnificent world figure.” He added: “Muhammad Ali was one of my heroes as a child.” Mr. Bochetto said he wants the new owners to “make sure the house is preserved” as an honor to him. The…

Related media - Linked media According to a recording obtained by the New York Times, one of the Washington Post’s political stars, Ashley Parker, asked how the paper had arrived at its decision, adding that a skeptical interpretation might be that Mr. Lewis was simply hiring his associates to help manage the Post. Mr. Lewis is in many ways orchestrating a reunion with the people he worked with in the early chapters of his career. As publisher of the Wall Street Journal, he appointed Murray to the paper’s top editorial position in 2018. And he worked with Winnett for years,…