All posts tagged: Netflix Inc

Tax-free status of movie, music and games traded online is on table as WTO nations meet in Abu Dhabi

Tax-free status of movie, music and games traded online is on table as WTO nations meet in Abu Dhabi

GENEVA (AP) — Since late last century and the early days of the web, providers of digital media like Netflix and Spotify have had a free pass when it comes to international taxes on films, video games and music that are shipped across borders through the internet. But now, a global consensus on the issue may be starting to crack. As the World Trade Organization opens its latest biannual meeting of government ministers Monday, its longtime moratorium on duties on e-commerce products — which has been renewed almost automatically since 1998 — is coming under pressure as never before. This week in Abu Dhabi, the WTO’s 164 member countries will take up a number of key issues: Subsidies that encourage overfishing. Reforms to make agricultural markets fairer and more eco-friendly. And efforts to revive the Geneva-based trade body’s system of resolving disputes among countries. All of those are tall orders, but the moratorium on e-commerce duties is perhaps the matter most in play. It centers on “electronic transmissions” — music, movies, video games and the …

WWE boss Vince McMahon sued over alleged sexual assault, trafficking

WWE boss Vince McMahon sued over alleged sexual assault, trafficking

TKO Executive Chairman of the Board Vince McMahon is seen during a ceremony announcing Dwayne “The Rock” Johnson has joined the Board of Directors for TKO at New York Stock Exchange on January 23, 2024 in New York City. Michelle Farsi | UFC | Getty Images WWE boss Vince McMahon was accused in a graphic lawsuit Thursday of sexual assault, trafficking, and physical and emotional abuse of a woman who previously worked at the pro wrestling giant. The suit by Janel Grant — which alleges McMahon directed her to have sex with a WWE “superstar” and other men — seeks to void a nondisclosure agreement Grant said she reached with McMahon in 2022. Grant’s suit in U.S. District Court in Connecticut says the billionaire McMahon agreed to pay her $3 million as part of that deal, but ended up only paying her $1 million in exchange for her silence about his conduct. In addition to McMahon, 78, the complaint names as defendants WWE and John Laurinaitis, the company’s former head of talent relations and general …

Netflix to stream WWE Raw starting next year

Netflix to stream WWE Raw starting next year

Netflix and TKO Group Holdings said Tuesday that the streaming platform will air WWE’s flagship program “Raw” starting next year, in Netflix’s first major foray into live sports. The 10-year deal is valued at more than $5 billion, according to a company filing. Netflix will have the option to exit the deal after five years and to extend it for another decade. The streaming platform will be able to stream “Raw” globally, and will start the agreement with exclusive rights to it in the U.S., Canada, U.K. and Latin America. Netflix will also become the home for all WWE shows and specials outside the U.S., including “SmackDown” and “NXT” as well as “WrestleMania,” “SummerSlam” and “Royal Rumble.” TKO shares spiked more than 15% following the news and a separate announcement that actor and former wrestling superstar Dwayne Johnson would join its board of directors. Netflix shares rose about 1%, ahead of the company’s fourth-quarter earnings report after the bell Tuesday. Netflix, which is trying to drive revenue by cutting down on subscription sharing and pushing viewers toward its ad-tier membership, …

5 things to know before the stock market opens Monday

5 things to know before the stock market opens Monday

Here are the most important news items that investors need to start their trading day: 1. Record run The S&P 500 closed at a record high on Friday. Now Wall Street will find out if the good times can last. The Federal Reserve has so far managed to curb inflation without tipping the U.S. economy into a recession, fueling stocks as investors bet the central bank will start to cut interest rates later this year. But equities may need a delicate mix of conditions to notch fresh records: slower price increases, combined with a solid — but not roaring — economy. The Fed will get two key data points about the economy this week, as the preliminary read on fourth-quarter GDP is due Thursday, and the personal consumption expenditures price index is set for Friday. Follow live market updates here. 2. Planes, streams and electric automobiles Corporate earnings reports this week will also shape the stock market and give a glimpse into the health of multiple key sectors. United kicks off a packed week for …