The Scene Warner Music Group CEO Robert Kyncl joins Mixed Signals — with Semafor business editor Liz Hoffman filling in for Ben — to explain what a record label actually does in a world where anyone can upload a song to Spotify. Max and Liz ask Robert why Warner struck ...
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Gulf stuck in war-and-peace limboGulf stuck in war-and-peace limbo
The “region cannot remain in a state of neither war nor peace indefinitely,” Anwar Gargash, diplomatic adviser to UAE President Sheikh Mohamed bin Zayed, warned this week. But this limbo looks likely to persist. US President Donald Trump is taking a “low-key” approach to squeezing Iran economically, while his energy ...
Phillips 66, Marathon held now-scuttled merger talksPhillips 66, Marathon held now-scuttled merger talks
The Scoop Phillips 66 and Marathon Petroleum held merger talks earlier this year in a deal that would have created a $180 billion oil-and-gas giant, according to people familiar with the matter. The talks ultimately fizzled out and are unlikely to be resurrected anytime soon, the people said. Spokespeople for ...
OpenAI annual revenue set to top $40 billionOpenAI annual revenue set to top $40 billion
OpenAI’s annualized revenue is set to top $40 billion, Bloomberg reported, one of the quickest growth stories in history, though rivals are fast gaining ground. The figures bolster the ChatGPT maker’s plans for a blockbuster market debut as early as this year. However, cost-conscious customers are increasingly turning to Chinese ...
Ebola outbreak spreads to new province in DR CongoEbola outbreak spreads to new province in DR Congo
The Ebola outbreak in the Democratic Republic of Congo spread to a sixth province as the overall death toll surpassed 2,100 and cases topped 4,500. Experts say the virus may have been transmitted undetected for months, while health workers have struggled to contain the outbreak with poor medical supplies and ...
US accuses allies of helping China to skirt tariffsUS accuses allies of helping China to skirt tariffs
The US heightened its trade pressure on allies and lashed out at China, raising tensions ahead of a summit of the superpowers’ leaders next month. Washington said Beijing was running a “Great Transshipment Scam,” accusing some of its closest partners of enabling China’s efforts to ferry goods via third countries ...
US to intensify economic and military pressure on IranUS to intensify economic and military pressure on Iran
Washington signaled it will ramp up economic and military pressure on Tehran, dashing hopes of any imminent respite to the conflict. The US Treasury secretary said he would soon unveil restrictions “that have never been seen,” while the country’s defense chief insisted a naval blockade could be maintained “indefinitely.” Yet ...
Leadership changes signal Iran expects a long warLeadership changes signal Iran expects a long war
Iran’s recent reshuffle, as well as its shifting battlefield tactics, suggest it is adapting for a lengthening conflict with the US. Tehran has reordered its leadership in part because of repeated assassinations of its top brass by American and Israeli strikes. But recent moves point to how Iran is “preparing ...
Houthis claim strikes on Saudi refineryHouthis claim strikes on Saudi refinery
Yemen’s Houthi rebels claimed new attacks on a Saudi Arabian oil refinery Thursday, as the US-Iran war threatened to expand further. The strikes could impact the kingdom’s efforts to maintain shipping volumes amid ongoing disruptions in the Strait of Hormuz, Bloomberg reported. Riyadh is weighing support for a new ground ...
US develops cheaper drones in arms shiftUS develops cheaper drones in arms shift
The US has lost upwards of 25% of its Reaper drones during the Iran war, The Washington Post reported Thursday, as the conflict taxes diminishing American stockpiles. Costing up to $50 million each, the slow, low-flying drones present easy pickings, and represent something of a bygone era. The Pentagon is ...