Tag: billion

  • A $111 Billion Hollywood Takeover With a Murky Future | After a bruising battle for Warner Bros.,…

    A $111 Billion Hollywood Takeover With a Murky Future | After a bruising battle for Warner Bros.,…

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    After a bruising battle for Warner Bros., David Ellison faces daunting challenges in Hollywood

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    Last week’s settlement of the antitrust lawsuit between state attorneys general and Paramount Skydance over its planned merger with Warner Bros. Discovery marked a clear victory for David Ellison.

    If approved by a judge, the settlement would clear the way for the emerging Hollywood mogul to complete the blockbuster $111-billion purchase after months of uncertainty over whether the deal would overcome intense opposition in Hollywood.

    What’s more, Ellison achieved the settlement without having to agree to any so-called structural remedies that California Atty. Gen. Rob Bonta had been seeking.

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  • Inside the crackdown on a $23 billion black market | Fisherman fined $10,000 and boat destroyed a…

    Inside the crackdown on a $23 billion black market | Fisherman fined $10,000 and boat destroyed a…

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    Inside the crackdown on a $23 billion black market

    Black market fishing costs legal operators billions of dollars globally per year.

    Australian authorities are cracking down on the industry, issuing large fines and crushing boats.

    Authorities are looking to scale up their surveillance equipment to combat the issue.

    He looks like an ordinary angler, but this 43-year-old man is anything but.

    In the waters between Brisbane and Russell Island, he was caught poaching mud crabs and selling them in south-east Queensland.

    "Mud crabs can retail anywhere up to $64 a kilo for high-quality, top-grade mud crabs," said Graeme Bolton, director-general of Queensland's Department of Primary Industries. 

    Last year, other seafood species such as threadfin salmon, molluscs and mulloway were uncovered at the man's house following a raid by fisheries officers.

    Fisherman fined $10,000 and boat destroyed amid crackdown on illegal trend in Aussie waters

    As one Aussie state continues cracking down on the illegal seafood trade, fishers are being warned they could lose their boats and face hefty fines.

    A Queensland man was fined $10,000 after Queensland Boating and Fisheries Patrol (QBFP) officers uncovered an illegal seafood operation involving the sale of mud crabs, king threadfin salmon and mulloway.

    The marine animals were taken from Queensland waters without the required commercial authority, QBFP said.

    The man was targeted and surveilled by officers who suspected wrongdoing as part of their ongoing crackdown on the black market seafood trade.

    Australia's illicit seafood trade is estimated to be worth tens of millions of dollars annually.

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    Australia Steps Up Fight Against Illegal Fishing

    According to ABC News, Australian authorities are increasing enforcement against illegal fishing, an illicit trade that damages legal fishers and marine ecosystems. Globally, organised illegal fishing is estimated to cost legal fisheries up to $23 billion each year. The activity can include fishing in protected reserves, breaching catch quotas, using banned gear and international smuggling, and can be linked to labour exploitation, human rights abuses and trafficking of illicit goods.

    In Queensland, a 43-year-old man caught poaching mud crabs in waters between Brisbane and Russell Island and selling them in south-east Queensland was convicted, fined $10,000 and had his boat destroyed. Fisheries officers had also found species including threadfin salmon, molluscs and mulloway at his home following a raid. Queensland Department of Primary Industries director-general Graeme Bolton said high-quality mud crabs can retail for up to $64 a kilogram, making them valuable, easy to transport and readily sold on the black market.

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  • Inside the crackdown on a $23 billion black market | Fisherman fined $10,000 and boat destroyed a…

    Inside the crackdown on a $23 billion black market | Fisherman fined $10,000 and boat destroyed a…

    Explore the latest developments concerning Inside the crackdown.

    Inside the crackdown on a $23 billion black market

    Black market fishing costs legal operators billions of dollars globally per year.

    Australian authorities are cracking down on the industry, issuing large fines and crushing boats.

    Authorities are looking to scale up their surveillance equipment to combat the issue.

    He looks like an ordinary angler, but this 43-year-old man is anything but.

    In the waters between Brisbane and Russell Island, he was caught poaching mud crabs and selling them in south-east Queensland.

    "Mud crabs can retail anywhere up to $64 a kilo for high-quality, top-grade mud crabs," said Graeme Bolton, director-general of Queensland's Department of Primary Industries. 

    Last year, other seafood species such as threadfin salmon, molluscs and mulloway were uncovered at the man's house following a raid by fisheries officers.

    Fisherman fined $10,000 and boat destroyed amid crackdown on illegal trend in Aussie waters

    As one Aussie state continues cracking down on the illegal seafood trade, fishers are being warned they could lose their boats and face hefty fines.

    A Queensland man was fined $10,000 after Queensland Boating and Fisheries Patrol (QBFP) officers uncovered an illegal seafood operation involving the sale of mud crabs, king threadfin salmon and mulloway.

    The marine animals were taken from Queensland waters without the required commercial authority, QBFP said.

    The man was targeted and surveilled by officers who suspected wrongdoing as part of their ongoing crackdown on the black market seafood trade.

    Australia's illicit seafood trade is estimated to be worth tens of millions of dollars annually.

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    Poacher intercepted off Northern Territory

    A foreign vessel has been detained, its crew suspected of fishing illegally in the Arafura Sea, in an interception by The Australian Border Force (ABF) as part of the ongoing Operation Lunar crackdown.

    A patrol intercepted the vessel near the Australian Exclusive Economic Zone (AEEZ) boundary, north of the Wessel Islands in the Northern Territory. A boarding party identified evidence of suspected fisheries offences and seized 100kg of fresh and dry reef fish, and roe.

    Following consultation with the Australian Fisheries Management Authority (AFMA), the vessel was seized and its crew detained.

    The crew have been transported to Darwin for further investigation by AFMA in relation to suspected offences against the Fisheries Management Act 1991.

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  • $500 billion to be wiped off Australia’s debt | Chalmers’ $500b debt turnaround relies on ‘…

    $500 billion to be wiped off Australia’s debt | Chalmers’ $500b debt turnaround relies on ‘…

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    Chalmers’ $500b debt turnaround relies on ‘unrealistic’ forecasts

    Claims in the upcoming Intergenerational Report that Australia is on track for a $500 billion improvement in the federal government’s long-term debt outlook hinge on an overly optimistic assumption about the nation’s productivity potential, economists say.

    They say the report, to be released on Monday, would instead have revealed a deterioration in the federal government’s debt position over the next 40 years had Treasury used a more realistic forecast for productivity growth than its current assumption of 1.2 per cent.

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    Chalmers wipes more than $500b off nation’s debt – in four decades’ time

    Hundreds of billions of debt that would weigh on future taxpayers is likely to be avoided, a long-term forecast on the state of the federal budget will reveal, even as the government faces growing spending pressures and a blowout in the nation’s interest bill.

    The seventh release of the intergenerational report, to be released by Treasurer Jim Chalmers on Monday, will show gross government debt far lower than expected and deep spending cuts in this year’s budget improving the budget bottom line into the 2060s.

    Yet the immediate pressure on the budget is growing with another step-up in the interest rate on Australian government debt amid a global repricing of public debt exposing fiscal problems in the United States.

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  • Meta to pay $23 billion to settle teen social media addiction cases | A landmark US deal could ch…

    Meta to pay $23 billion to settle teen social media addiction cases | A landmark US deal could ch…

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    Meta to pay $23 billion to settle teen social media addiction cases

    Mark Zuckerberg had been expected to provide evidence at the trial. (Reuters: Mike Blake)

    Meta has settled a landmark court battle over teen social media addiction by agreeing to pay $23.6 billion and adding further child-safety measures to its Facebook and Instagram apps.

    The agreement came ahead of Meta chief executive Mark Zuckerberg being expected to take the stand before a jury in federal court.

    Meta is urging competitors like TikTok and YouTube to adopt similar measures.

    Meta has agreed to pay $US17 billion ($23.6 billion) and add child-safety measures to its Facebook and Instagram platforms to end a landmark trial over teen social media addiction and settle claims filed by 47 US states, state attorneys-general have announced.

    A landmark US deal could change social media forever

    SBS acknowledges the Traditional Custodians of Country and their connections and continuous care for the skies, lands and waterways throughout Australia.

    Meta Platforms will pay up to US$18 billion ($25 billion) over the next decade and strictly limit how teenagers use Facebook and Instagram under an agreement with nearly all 50 US states that took it to trial to resolve claims it designed those social media platforms to addict children.

    The settlements announced on Wednesday end a federal trial over allegations Meta's products harmed children, and the company misled the public about their safety. Four of the states — California, Colorado, Kentucky and New Jersey — were expected to seek close to US$200 billion ($279 billion) in civil penalties.

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  • Rinehart almost doubles US shares to $8 billion, led by backing Elon Musk’s SpaceX | Gina Rineh…

    Rinehart almost doubles US shares to $8 billion, led by backing Elon Musk’s SpaceX | Gina Rineh…

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    Rinehart almost doubles US shares to $8 billion, led by backing Elon Musk’s SpaceX

    Australia’s richest person, Gina Rinehart, has almost doubled her bet on the US stock market, with her portfolio of shares there now worth $US5.7 billion ($8 billion).

    Filings to the US Securities Commission overnight reveal that Rinehart’s ownership of US shares increased from $US3.3 billion at the end of March to $US5.7 billion at the end of June.

    The massive jump in the value of her portfolio was driven in part by the $US1.4 billion value of her investment in technology billionaire Elon Musk’s SpaceX.

    Rinehart spent $US1 billion buying shares in the sought-after float on Nasdaq in June, equating to about 7.4 million SpaceX shares. The mining magnate’s friendship with Musk has evolved via their mutual support of Donald Trump during the 2024 US presidential election. Rinehart has described Musk as a “truly exceptional person”.

    Gina Rinehart reveals $1.9b SpaceX bet as US market splurge tops $7.5b

    Mining magnate Gina Rinehart has revealed the full extent of her bet on Elon Musk’s recent market debutant SpaceX, as Australia’s richest person continues to pile her fortune into the US market under President Donald Trump.

    Hancock Prospecting, owned by Rinehart, disclosed 8 million SpaceX shares valued at the end of June at $US1.4 billion ($1.97 billion) in the company’s filings to the US Securities and Exchange Commission overnight on Friday (early Saturday AEST).

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  • TSMC Sits on $1 Billion of Apple Chips as It Waits for DRAM | Shortage of DRAM could limit iPhone…

    TSMC Sits on $1 Billion of Apple Chips as It Waits for DRAM | Shortage of DRAM could limit iPhone…

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    Shortage of DRAM could limit iPhone 18 Pro availability at launch – GSMArena.com news

    Continuing the thread of yesterday's report that Apple is short on DRAM for its upcoming iPhones, there's more to the story. Apple could likely have limited iPhone 18 Pro and 18 Pro Max availability at launch.

    Per Culpium, the iPhone 18 Pro models and the foldable iPhone Ultra will use the new A20 Pro SoC, based on TSMC's N2 node. TSMC has reportedly been able to progress well with volume and yields, but wafers are piling up waiting for DRAM to be packaged on the chips. Apple is scrambling to supply DRAM from Micron, SK Hynix, and Samsung, and is even exploring Chinese-sourced avenues like CMXT. Waiting for DRAM could cause delays when the new iPhone models arrive in a few weeks.

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    Apple’s iPhone 18 Pro, iPhone 18 Pro Max, and foldable ‘iPhone Ultra’ likely to sell out fast due to memory shortages

    Apple and its suppliers are scrambling to secure enough DRAM (mobile memory chips) ahead of the expected September 2026 launches of the iPhone 18 series and the foldable iPhone Ultra, according to semiconductor analyst Tim Culpan’s exclusive reporting for Culpium.

    With under six weeks to the anticipated debut, assemblers are rushing shipments of DRAM. Apple primarily sources from Micron, with additional supply from SK Hynix and Samsung. Severe shortages due to RAMageddon have left processor wafers sitting idle, awaiting packaging—creating pressure to avoid launch shortages.

    The issue stems from Apple’s A20 Pro chips (built on TSMC’s 2nm process), which use Wafer-Level Multi-Chip Module (WMCM) packaging that integrates the processor and DRAM at the wafer level. This means DRAM must be available for packaging; unfinished dies cannot simply be stockpiled and completed later. Reports indicate TSMC is holding roughly $1 billion worth of unpackaged Apple processors delayed by the missing memory.

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  • NRL on the verge of signing historic $5 billion broadcast deal | Nine, Foxtel win NRL rights in m…

    NRL on the verge of signing historic $5 billion broadcast deal | Nine, Foxtel win NRL rights in m…

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    NRL on the verge of signing historic $5 billion broadcast deal

    The NRL is one the verge of securing a history making broadcast deal that will deliver a record $5 billion bonanza to the game, as the ARL Commission prepares to discuss – and potentially ratify – the new deal.

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    Nine, Foxtel win NRL rights in massive Australian sport media deal

    Nine and Foxtel are on the cusp of a multibillion-dollar agreement to keep airing the NRL in what could be the most expensive rights deal for an Australian sporting code in history.

    The pending deal, which is set to run until 2034, could make the sport more valuable than the AFL, a longstanding goal of the Australian Rugby League Commission chairman Peter V’landys.

    Sources familiar with the matter said the seven-year $5 billion deal included $150 million annually from Nine for the free-to-air TV rights, and Foxtel paying $520 million annually for the pay TV component.

    While the deal is yet to be signed and it is unclear how much of the headline figure will be made up of free advertising, the pact stands to amount to about $700 million a year, including the rights to broadcast the game in New Zealand.

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    'Record' TV deal: Sky in box seat as part of massive new NRL, Warriors rights agreement

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    Warriors Charnze Nicoll-Klokstad and Dallin Watene-Zelezniak celebrate one of the side's many tries so far this NRL season; Sky TV chief executive Sophie Moloney with NRL chief executive Andrew Abdo (left) and chair Peter V'landys (right). Photos / Photosport, Sky TV

    A massive $A5 billion NRL TV rights deal is about to be confirmed in Australia – just what does that mean for New Zealand viewers?

    Sky TV appears to be in the box seat – as it happens, literally – to retain NRL and Warriors broadcast rights for the next
    seven years, as part of a massive new deal.

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  • $3.6 billion childcare pay deal staves off pay cuts, fee hikes and a strike | Government to exten…

    $3.6 billion childcare pay deal staves off pay cuts, fee hikes and a strike | Government to exten…

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    $3.6 billion childcare pay deal staves off pay cuts, fee hikes and a strike

    Tens of thousands of childcare workers will avoid pay cuts after the Albanese government agreed to double its $3.6 billion election pledge to prop up early educator salaries, due to expire this year.

    Funding for the two-year deal to give early educators a 15 per cent pay rise, announced ahead of the 2025 election, was to expire in December. Sixty-thousand workers were facing pay cuts of 5 to 6 per cent, according to the United Workers Union, which was threatening to strike next month if the subsidy wasn’t extended.

    A cap on how much providers could hike fees was also due to end in August, leading to calls from advocates for a new deal to prevent further price rises for families.

    Government to extend pay subsidy to avoid childcare worker walk-off

    The federal government has agreed to extend its subsidy for childcare worker wages by 18 months.  (Pixabay)

    Childcare workers will no longer walk off the job in July because the federal government has agreed to fund a 15 per cent pay rise for an additional 18 months. 

    The scheme, which affects the wages of 200,000 early educators, would have ran out in November. 

    A Fair Work Commission decision on gender-based undervaluation means childcare workers will get a permanent pay rise funded by employers in 2029. 

    Childcare workers have scrapped a plan to walk off the job in July after the federal government agreed to fund a 15 per cent pay rise for another 18 months at a cost of $3.6 billion.

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    Taxpayers to foot bill for another $3.6b childcare wage subsidy

    Taxpayers will fund another $3.6 billion in childcare wage subsidies over the next 18 months, after a supposedly one-off injection of the same amount over the past two years backfired, leaving workers exposed to a pay cut unless it was renewed.

    The new funding, which will take to $7.2 billion the gross amount spent on childcare wage subsidies in less than four years, will be unveiled by the Albanese government on Wednesday, along with a signature announcement on Medicare, at the same time the ascendant Pauline Hanson makes her first keynote address to the National Press Club.

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  • $28 billion and counting: Europe tallies the cost of another energy crisis | EU plans to cut elec…

    $28 billion and counting: Europe tallies the cost of another energy crisis | EU plans to cut elec…

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    $28 billion and counting: Europe tallies the cost of another energy crisis

    The European Union has unveiled a raft of planned emergency measures to cushion its economy from soaring energy costs.

    The proposals, announced Wednesday, underscore the economic damage the Iran war is inflicting on Europe, which only recently emerged from the energy crunch precipitated by Russia’s 2022 invasion of Ukraine. Some industries are already fighting for survival.

    “For the second time in less than five years, Europeans are paying the price of Europe’s dependency on imported fossil fuels,” the European Commission, the EU’s executive arm, said in a statement detailing the measures.

    The bloc has spent an additional €24 billion ($28 billion) on energy imports since the start of the war due to higher prices – or more than $587 million a day – “without receiving a single extra molecule of energy,” it added.

    EU plans to cut electricity taxes to shield households from Iran war energy crisis

    Brussels will relax state aid rules to allow member countries to offer ‘targeted and temporary’ support

    The EU will cut electricity taxes and provide consumers with fresh incentives to ditch fuel-burning cars and boilers, the European Commission has announced, as the energy crisis from the Iran war speeds a shift to a clean economy.

    The plan, which foresees tweaking rules so that electricity is taxed less than oil and gas, aims to bring down bills while encouraging the move away from polluting devices that prolong reliance on foreign fuels.

    The commission said it would adopt temporary state aid rules to allow member countries to directly shield consumers and businesses from high energy prices, but it warned that any support must be “targeted, timely and temporary”.

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    How to read the European Commission’s Iran crisis energy emergency plan

    EU countries should coordinate measures to offset rising energy prices from the Iran conflict, while using the crisis to drive longer-term change

    A plan published on 22 April by the European Commission to deal with the energy shock triggered by the war in Iran and related blockade of the Strait of Hormuz seeks to turn the crisis into a catalyst for long-term change. The plan, known as AccelerateEU, pushes the European Union to go further in reducing its high dependence on volatile fossil-fuel imports, while transitioning to an energy system based on clean, homegrown sources.

    In particular, AccelerateEU shows that the European Commission wants to use the Iran crisis to foster electrification in the context of the share of electricity in final EU energy consumption being stuck at around 20% for a decade. Importantly, the Commission’s analysis of the risks of the EU’s dependence on fossil fuels is ultimately correct. This contrasts with statements since the start of the Iran crisis from some national governments – including Germany – which seem to advocate continued use of fossil fuels and a slowdown in the transition.

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