The Way of Water’ tops $2 billion at the global box office

The Way of Water’ tops $2 billion at the global box office

Avatar: The Way of Water Courtesy: Disney Co. Disney‘s “Avatar: The Way of Water” has topped $2 billion at the global box office, making it the third James Cameron film to reach this benchmark. Only five other films have hit this metric — the original “Avatar,” “Avengers: Endgame,” Cameron’s “Titanic,” “Star Wars: The Force Awakens” and “Avengers: Infinity War.” As of Sunday, “The Way of Water” had tallied $598 million from domestic ticket sales and $1.426 billion from foreign markets. The film is the sixth highest-grossing film of all time and will likely move up in the rankings as its...

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GM, LG end plans for fourth U.S. battery cell plant; automaker seeks new partner

GM, LG end plans for fourth U.S. battery cell plant; automaker seeks new partner

GM CEO and Chairman Mary Barra and LG Chem Vice Chairman and CEO Hak-Cheol Shin at the automaker’s battery lab in Warren, Mich., where the companies announced a new $2.6-billion joint venture on Dec. 5, 2019. GM DETROIT – General Motors and LG Energy Solution have indefinitely shelved plans to build a fourth battery cell plant in the U.S., as talks between the two sides recently ended without an agreement, a person familiar with the plans confirmed to CNBC. The Detroit automaker is expected to continue with its plans to build the plant but is searching for another partner, according...

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Martin Shkreli faces FTC contempt demand in drug case

Martin Shkreli faces FTC contempt demand in drug case

Martin Shkreli, former chief executive officer of Turing Pharmaceuticals AG, center, pauses while speak to members of the media with his attorney Benjamin Brafman, right, outside federal court in the Brooklyn borough of New York, U.S., on Friday, Aug. 4, 2017. Peter Foley | Bloomberg | Getty Images The Federal Trade Commission on Friday asked a judge to hold notorious “pharma bro” Martin Shkreli in contempt of court for forming a new drug company in violation of a ban on the convicted fraudster from working in the pharmaceuticals industry. Shkreli, who was released from prison last year, had been banned...

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The whole West is threatened if an aggressor isn’t challenged, Dutch PM says

The whole West is threatened if an aggressor isn’t challenged, Dutch PM says

Europe needs to do more to support Ukraine, according to the Dutch prime minister. Bloomberg / Contributor / Getty Images Dutch Prime Minister Mark Rutte said Thursday it was imperative that Europe continued to stand up to Russia’s aggression, saying the region had to do “everything we can to help Ukrainians.” “If an aggressor is not challenged and can go about his business, it won’t end with Ukraine. The whole West is threatened,” Rutte told CNBC, as he discussed Europe’s response to the war in Ukriane at the World Economic Forum in Davos. Rutte referenced the 1938 Munich Agreement in...

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Microsoft, Amazon, Meta, others have cut more than 60,000 employees

Microsoft, Amazon, Meta, others have cut more than 60,000 employees

Microsoft CEO Satya Nadella speaks at the company’s Ignite Spotlight event in Seoul on Nov. 15, 2022. SeongJoon Cho | Bloomberg | Getty Images The job cuts in tech land are piling up, as companies that led the 10-year bull market adapt to a new reality. Microsoft said Wednesday that it’s letting go of 10,000 employees, which will reduce the company’s headcount by less than 5%. Amazon also began a fresh round of job cuts that are expected to eliminate more than 18,000 employees and become the largest workforce reduction in the e-retailer’s 28-year history. The layoffs come in a period...

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Hungary’s foreign minister says Brussels has failed on Russia sanctions

Hungary’s foreign minister says Brussels has failed on Russia sanctions

Hungary’s foreign minister strongly criticized the European Union’s sanctions against Russia, arguing they have damaged its members’ economies more than their target’s as well as failing to stop the war in Ukraine. “If we make an assessment, an analysis, about the impact of sanctions, it’s obvious that they have not fulfilled expectations,” Péter Szijjártó told CNBC’s Geoff Cutmore at the World Economic Forum in Davos. “Because what was the expectation at the beginning of March, end of February, when we discussed the first package of sanctions? That they will put Russia’s economy on its knees, therefore the war will be...

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Why is bitcoin (BTC) rallying in January?

Why is bitcoin (BTC) rallying in January?

A number of factors are behind bitcoin’s New Year rise, according to analysts, including an increased probability of interest rates being lowered and purchases by large buyers known as “whales.” Filip Radwanski | Sopa Images | Lightrocket | Getty Images Bitcoin has begun 2023 on a positive note, with the price of the world’s largest digital token up roughly 26% since the start of January. On Saturday, bitcoin’s price rose above $21,000 per coin for the first time since Nov. 7. It’s still a far cry from the $68,990 record high bitcoin notched in Nov. 2021. But it has given...

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Oil CEO Sultan Al Jaber is ideal person to lead COP 28

Oil CEO Sultan Al Jaber is ideal person to lead COP 28

ABU DHABI — If the world gets lucky, this could be the year fossil fuel producers and climate activists bury their hatchets and join hands to reduce emissions and ensure our planet’s future. If that sounds hopelessly Utopian, take that up with the leaders of this resource-rich, renewables-generating Middle Eastern monarchy. The United Arab Emirates is determined to inject specificity, urgency, and pragmatism into a process that often has lacked all three: the 28th convening of the United Nations Climate Change Conference, known as COP 28, which the UAE will host from November 30 to December 12.  To kick off...

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Trump denied E. Jean Carroll rape claim in testimony

Trump denied E. Jean Carroll rape claim in testimony

Former U.S. President Donald Trump speaks at a rally to support Republican candidates ahead of midterm elections, in Dayton, Ohio, November 7, 2022. Gaelen Morse | Reuters Editor’s note: This story includes a description of sexual assault. A federal judge in New York on Friday rejected an effort by lawyers for former President Donald Trump to keep sealed a portion of the transcript of his deposition in a lawsuit by a writer who accuses him of raping her in the mid-1990s. Trump’s arguments for keeping sealed the nearly three dozen pages of his Oct. 19 deposition “are entirely baseless,” Judge...

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Citigroup’s fourth-quarter profit declines by 21% as bank sets aside more money for credit losses

Citigroup’s fourth-quarter profit declines by 21% as bank sets aside more money for credit losses

Citigroup said it had identified the cause of the flash crash and corrected the error “within minutes.” Jim Dyson | Getty Images News | Getty Images Citigroup said fourth-quarter net income decreased by more than 21% from a year ago as the bank set aside more money for potential credit losses. Shares were up 0.74% as investors looked to some positives in the report including a record fourth quarter for fixed income trading. related investing news Here are the fourth-quarter numbers versus what Wall Street expected: Net income: $2.5 billion versus $3.2 billion a year ago. Earnings: $1.10 a share,...

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