Business and Finance News - 1.7.25

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Disney will merge Hulu+ Live TV with Fubo, creating a larger live TV streaming service with 6.2 million subscribers. Disney will hold a 70% stake, while Fubo shareholders retain 30%, and the deal is expected to close in 12 to 18 months, boosting Fubo’s financial position and market influence. (CNBC)

Key Insight → Disney’s merger of Hulu+ Live TV with Fubo marks a significant shift in the streaming landscape, consolidating services that replicate the traditional cable bundle. This move positions Disney as a dominant player in live TV streaming, strengthening its foothold in both entertainment and sports content while increasing market competition against platforms like YouTube TV. For the broader market, it signals continued consolidation in the streaming industry, which could lead to fewer, but more comprehensive, options for consumers and greater negotiating power for content providers.

Dana White, UFC CEO and Trump ally, is joining Meta’s board along with John Elkann and Charlie Songhurst. Meta CEO Mark Zuckerberg highlighted White’s success in growing the UFC, and the new board members are expected to help guide Meta’s efforts in AI, social media, and technology expansion. (CNBC)

Key Insight → Dana White’s addition to Meta’s board highlights the growing intersection of sports, entertainment, and tech leadership, reflecting Meta’s focus on expanding its influence beyond traditional tech sectors. White’s business acumen and close ties to influential political figures could strengthen Meta’s strategic positioning in regulatory and cultural spheres. This move also signals Meta’s intent to align with dynamic, high-growth industries to drive future innovation and engagement.

U.S. Steel and Nippon Steel are suing the Biden administration for blocking their $14.9 billion merger, alleging political interference in the national security review process. They also filed a separate lawsuit against Cleveland-Cliffs and union leaders, accusing them of colluding to prevent the deal and monopolize the domestic steel market. (Reuters)

Key Insight → The lawsuit by U.S. Steel and Nippon Steel against the Biden administration highlights tensions between economic policy, national security, and political influence. Blocking the $14.9 billion merger raises concerns about government interference in corporate deals, potentially deterring foreign investment. The outcome could reshape competition in the steel industry and influence future regulatory decisions.

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Here’s how the major indexes did yesterday:

• Dow Jones Industrial Average: 42,706.56 -25.57 (-0.06%)

• S&P 500: 5,975.38 +32.91 (+0.55%)

• Nasdaq Composite: 19,864.98 +243.30 (+1.24%)

• Russell 2000: 2,266.65 -1.83 (-0.08%)

Here’s how The Magnificent Seven did yesterday:

• Apple (AAPL) [3.703T]: 245.00 +1.64 (+0.67%)

• Nvidia (NVDA) [3.66T]: 149.43 +4.96 (+3.43%)

• Microsoft (MSFT) [3.181T]: 427.85 +4.50 (+1.06%)

• Alphabet (GOOGL) [2.41T]: 196.87 +5.08 (+2.65%)

• Amazon (AMZN) [2.393T]: 227.61 +3.42 (+1.53%)

• Meta Platforms (META) [1.591T]: 630.20 +25.57 (+4.23%)

• Tesla (TSLA) [1.319T]: 411.05 +0.61 (+0.15%)

Here’s how Bitcoin and Ethereum did yesterday:

• Bitcoin (BTC): $102,146.82 (4:10PM PST on 1/6/25)

• Ethereum (ETH): $3,678.13(4:10PM PST on 1/6/25)