Happy New Year 2025

Category: Business

Trump’s AI deal fueling early cancer detection: Oracle’s Larry Ellison

As Trump announced “Project Stargate,” a $500 billion AI joint venture, Ellison detailed how it will enable early cancer detection and the overall treatment of cancers in what is being considered a breakthrough healthcare technology.

Oracle founder Larry Ellison said the massive artificial intelligence (AI) infrastructure project dubbed Stargate is helping to fuel the development of a cancer vaccine.

President Donald Trump announced this week that Oracle, OpenAI and Softbank joined forces to launch Stargate, which will build data centers in the U.S. to power AI.

Ellison, also Oracle’s chief technology office, said during an interview that his company is leveraging tools from OpenAI and Softbank to develop a cancer vaccine.

TRUMP ANNOUNCES LARGEST AI INFRASTRUCTURE PROJECT ‘IN HISTORY’ INVOLVING SOFTBANK, OPENAI AND ORACLE

“One of the most exciting things we’re working on – again using the tools that Sam and Masa are providing – is our cancer vaccine,” Ellison said during a news conference with Trump in the Roosevelt Room of the White House on Tuesday.

Ellison said early cancer detection can be provided with a simple blood test, and artificial intelligence can be leveraged to look at the blood test and find the cancers that are seriously threatening someone’s health.

Oracle founder Larry Ellison speaks during a news conference with President Donald Trump in the Roosevelt Room of the White House on Jan. 21, 2025, in Washington, D.C. (Andrew Harnik/Getty Images / Getty Images)

“Then beyond that, once we gene-sequence that cancer tumor, you can then vaccinate the person, design a vaccine for every individual person to vaccinate them against that cancer,” Ellison continued. “And you can make that vaccine, that mRNA vaccine, you can make that robotically again using AI in about 48 hours.”

US CEOS HAVE ‘NOTHING BUT HOPE’ THAT TRUMP BRINGS ‘CRAZY GOOD GROWTH’ FOR BUSINESSES

He continued saying, “imagine early cancer detection, the development of a cancer vaccine for your particular cancer aimed at you and have it have that vaccine available in 48 hours. This is the promise of AI and the promise of the future.”

Oracle founder Larry Ellison listens to President Donald Trump speak in the Roosevelt Room at the White House on Jan. 21, 2025, in Washington, D.C. (JIM WATSON/AFP via Getty Images / Getty Images)

The initial investment for the project will be $100 billion, with plans to expand to $500 billion over the next four years. The first data center built under the initiative will be in Texas, and it will eventually expand to other states.

Trump said it is “the largest AI infrastructure project, by far, in history.”

Trump was working to drum up private business investments in the U.S. prior to his second term. Last month, Softbank’s Masayoshi Son joined Trump in announcing Softbank’s plans for a $100 billion investment in America aimed at generating 100,000 new jobs.

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A White House official told FOX Business that post-election, Trump has now secured $1 trillion in private investment for the U.S. in various projects.

FOX Business’ Breck Dumas contributed to this report.

January 23, 2025
CNN’s net worth cut in half between 2021 and 2023, forensic economist reveals during defamation trial

Dominari Financial CEO Kyle Wool explains how President Trumps economic policies will influence the stock market on Varney & Co.

A Florida jury found that CNN defamed U.S. Navy veteran Zachary Young last week, allowing a rare peek in the network’s books that revealed its net worth was cut in half from 2021 to 2023.

Young successfully alleged CNN smeared him by implying he illegally profited when helping people flee Afghanistan on the “black market” during the Biden administration’s military withdrawal from the country in 2021. The six-person jury ruled Young was to be awarded $4 million in lost earnings and $1 million in personal damages, and it also found punitive damages were warranted against CNN.

Before punitive damages were awarded, both sides had a chance to argue their case to the jury. The plaintiff called acclaimed forensic economist Robert W. Johnson to break down the current condition of CNN’s finances and the network’s ability to pay punitive damages.

JURY FINDS CNN COMMITTED DEFAMATION AGAINST NAVY VETERAN, SETTLEMENT REACHED ON PUNITIVE DAMAGES

A Florida jury found that CNN defamed U.S. Navy veteran Zachary Young last week.

Johnson, who was a paid witness, used the “standard method of economic analysis” that is “used and relied upon by economists to quantify the financial condition” of CNN. He said in a perfect world he would have seen CNN’s balance sheets and income statements, but those were “never provided.”

Instead, CNN provided 1120 U.S. Corporate Income Tax returns for the years 2021 through 2023. Johnson said he would have preferred to also receive the 2024 tax statement, but he would rely on the information that was provided.

“We believe them to be accurate, valid and truthful,” Johnson said of the documents he was provided.

CNN was worth $4.4 billion in 2021 but dropped to $2.3 billion in 2023, according to Johnson.

CNN DEFAMATION TRIAL: EDITOR WHO SAID STORY WAS ‘FULL OF HOLES LIKE SWISS CHEESE’ GRILLED ON WITNESS STAND

Before punitive damages were awarded in Zachary Young’s victory over CNN, both sides had a chance to argue their case to the jury. The plaintiff’s paid witness showed the jury CNN financial data from 1120 U.S. Corporate Income Tax returns for the yea

CNN’s net worth was cut in half from 2021 to 2023, according to data shown to jurors.

During that time, CNN has had multiple leadership changes as it struggled to attract viewers during the Biden administration. CNN has seen significant turnover since 2021, with high-profile hosts like Don Lemon and Chris Cuomo out the door.

Former parent company WarnerMedia merged with Discovery to create Warner Bros. Discovery in 2022.

Johnson’s data also showed that CNN’s revenue dropped from $2.2 billion in 2021 to $1.8 billion in 2023. CNN’s net income over the same period dropped from $0.6 billion in 2021 to $0.4 billion in 2023, according to the network’s tax returns provided to Johnson.

Washington Post media reporter Jeremy Barr responded to the data on X, writing “these are not numbers we normally get.”

CNN DEFAMATION TRIAL: PLAINTIFF ACCUSES NETWORK OF FAKING CRITICAL PHONE CALL FOR ‘THEATER’

Forensic economist Robert W. Johnson.

CNN still had a $424.9 million cash flow profit in 2023 despite widespread struggles to attract an audience. CNN and Young reached a settlement before the jury could decide on punitive damages.

CNN dismissed Johnson’s findings.

“The numbers represent the Plaintiff’s interpretation of a subset of data as presented in litigation, and they do not represent financial data for the whole of CNN’s business,” a CNN spokesperson told Fox News Digital.

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January 23, 2025
Trump requires federal employees to return to in-person work

Rep. Mark Harris, R-N.C., expresses confidence in passing Trump’s legislative priorities through both Republican-controlled chambers and the ‘strong indication’ that America is a world leader again.

As promised on the campaign trail, President Donald Trump signed an executive order requiring federal employees to return to in-person work.

The order comes after Trump indicated that he planned to push back on former President Joe Biden’s move allowing federal workers to remain in a hybrid work arrangement through 2029.

“Heads of all departments and agencies in the executive branch of Government shall, as soon as practicable, take all necessary steps to terminate remote work arrangements and require employees to return to work in-person at their respective duty stations on a full-time basis, provided that the department and agency heads shall make exemptions they deem necessary,” the order reads.

Agencies must begin the move to fully in-person work by 5 p.m. on Friday, the order stated.

TRUMP WILL FIGHT BIDEN REMOTE WORK DEAL; UNION VOWS TO FIGHT BACK

President Donald Trump signs a series of executive orders at the White House on Jan. 20, 2025, in Washington, D.C. (Jabin Botsford /The Washington Post via Getty Images / Getty Images)

Elon Musk leads the Department of Government Efficiency (DOGE) and is tasked with finding ways to cut government spending and improve the efficiency of federal initiatives.

One of those initiatives was ending remote work and viewing the requirement that federal workers return to the office as a way of spurring voluntary layoffs.

THOUSANDS OF GOVERNMENT EMPLOYEES LAND DEAL TO CONTINUE TELEWORK WITH BIDEN ADMIN APPOINTEE: REPORT

“Requiring federal employees to come to the office five days a week would result in a wave of voluntary terminations that we welcome: If federal employees don’t want to show up, American taxpayers shouldn’t pay them for the COVID-era privilege of staying home,” Musk wrote in an op-ed published with Vivek Ramaswamy, former DOGE co-leader, in The Wall Street Journal last month.

President Donald Trump delivers his inaugural address after being sworn in as the 47th President of the United States on Jan. 20 in Washington, D.C. (Chip Somodevilla/Pool/AFP via Getty Images / Getty Images)

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In addition to the return-to-work order, Trump also signed an order freezing the hiring of federal civilian employees, to be applied throughout the executive branch.

The order stated, “As part of this freeze, no Federal civilian position that is vacant at noon on January 20, 2025, may be filled, and no new position may be created except as otherwise provided for in this memorandum or other applicable law.”

The freeze excludes military personnel and positions related to immigration enforcement, national security and public safety.

January 23, 2025
Saudi prince eyes $600B investment in US over next 4 years: report

Khalid Al-Falih, minister of investment of Saudi Arabia, on boosting non-oil investments, Middle Eastern conflict and President Donald Trump’s relationship with Saudi Arabia.

Saudi Arabia’s Crown Prince Mohammed bin Salman told President Donald Trump the kingdom plans to sink $600 billion into new investments and trade with the U.S. over the next four years, according to reports.

The Saudi State news agency reported that, during a phone call between the two leaders, bin Salman said expected reforms from the Trump administration could create “unprecedented economic prosperity.”

The agency also said Saudi Arabia would like to capitalize on these conditions, though it did not say where the $600 billion would come from, how it would be deployed and if it would be public or private spending.

Bin Salman told Trump the investment “could increase further if additional opportunities arise,” the report noted.

TRUMP SPOTTED SITTING WITH HEAD OF SAUDI ARABIA’S PUBLIC INVESTMENT FUND AT UFC FIGHT

Saudi Arabia’s Crown Prince Mohammed bin Salman shakes hands with President Donald Trump at the G20 leaders summit in Osaka, Japan, June 29, 2019. (Reuters/File photo / Reuters Photos)

During his first term, President Trump built close ties with Saudi Arabia and other Gulf states. In fact, Saudi Arabia invested $2 billion in a firm created by Trump’s son-in-law and former aide, Jared Kushner, after Trump had left office.

During his inauguration Monday, Trump said he would consider making Saudi Arabia his first destination for a foreign visit if the capital city of Riyadh agreed to purchase $500 billion in American products.

PGA TOUR AND LIV GOLF COMBINATION: THE PLAYERS, INVESTORS, MONEY

Russian President Vladimir Putin presents a gift made of a mammoth tusk to Saudi Arabia’s Crown Prince Mohammed bin Salman as the head of the Chechen Republic, Ramzan Kadyrov, looks on in Riyadh, Saudi Arabia, Oct. 14, 2019. (Reuters/File Photo / Reuters Photos)

“I did it with Saudi Arabia last time because they agreed to bury $450 billion worth of our product,” Trump said in reference to his 2017 visit to the country. “I said, ‘I’ll do it, but you have to buy American product,’ and they agreed to that.”

After winning his way back to the Oval Office in November, Trump and several others attended a UFC fight at Madison Square Garden.

Those in attendance with Trump included Elon Musk, Kid Rock, RFK Jr., Tulsi Gabbard, House Speaker Mike Johnson and the head of Saudi Arabia’s Public Investment Fund (PIF), Yasir Al-Rumayyan.

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The PIF is the sovereign wealth fund of Saudi Arabia, which is controlled by bin Salman and governed by Al-Rumayyan.

According to Reuters, the PIF was estimated to have about $925 billion in assets in July.

Reuters contributed to this report.

January 23, 2025
J&J ketamine-derived nasal spray approved to treat depression

Cardiol Therapeutics Inc. President and CEO David Elsley discusses the rise in heart failure deaths among young adults on ‘Making Money.’

The Food and Drug Administration (FDA) approved Johnson & Johnson’s ketamine-derived nasal spray to help millions of U.S. patients suffering from severe depression.

Spravato, approved as a standalone treatment, is “the first and only monotherapy for adults living with major depressive disorder who have had an inadequate response to at least two oral antidepressants,” the pharmaceutical giant said Tuesday.

An estimated 21 million adults in the U.S. are living with major depressive disorder, one of the most common psychiatric disorders, but one-third of them will not respond to oral antidepressants alone, hindering their quality of life, according to Johnson & Johnson.

ARRESTS IN MATTHEW PERRY’S DEATH PUT SPOTLIGHT ON KETAMINE DANGERS

“Treatment-resistant depression can be very complicated, especially for patients who do not respond to oral antidepressants or cannot tolerate them. For too long, healthcare providers have had few options to offer patients much-needed symptom improvement,” Bill Martin, global therapeutic area head of Neuroscience at Johnson & Johnson Innovative Medicine, said in a statement.

Patients could experience improvements in their symptoms as early as 24 hours without the need for daily oral antidepressants.

Johnson & Johnson’s recently approved nasal spray, Spravato. (Johnson & Johnson)

MAIL-ORDER KETAMINE INJECTIONS CAN BE ‘EXTREMELY DANGEROUS,’ WARNS DR. MARC SIEGEL

The approval, granted following FDA priority review, comes after more than a decade of research and almost six years of real-world evidence. As of Tuesday, it has been administered to more than 140,000 patients worldwide.

The drug “has proven to be a transformational treatment option for many patients with TRD by reducing depression symptoms in as little as 24 hours and reducing the time to relapse for patients who stay on treatment,” the company said.

There has been a growing use of using ketamine – described as a “dissociative drug” – to combat depression. It also made headlines due to its use by high-profile figures, including Elon Musk.

A Johnson & Johnson building in Irvine, California, Jan. 24, 2017. (Mike Blake/File / Reuters Photos)

In March 2024, the head of Tesla and SpaceX said in an interview that he uses ketamine to boost his mental health.

“There are times when I have sort of… a negative chemical state in my brain, like depression, I guess,” Musk said, adding that he uses a “small amount once every other week.”

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“Ketamine is useful for getting one out of a negative frame of mind,” Musk went on, referring to his depression as “chemical tides” and saying it wasn’t “negative news.”

However, off-label use of the drug has “skyrocketed” in recent years, “despite limited data supporting the safety and efficacy of that practice,” according to a report from Yale School of Medicine.

FOX News’ Melissa Rudy contributed to this report.

January 23, 2025
Barron Trump business partner clarifies future of luxury real estate venture

White House press secretary Karoline Leavitt joins ‘Fox & Friends’ to preview President Donald Trump’s upcoming infrastructure announcement.

A luxury real estate venture that Barron Trump, the youngest son of President Donald Trump, was part of will not be relaunched, one of his partners in the project said.

The New York Post initially reported that the younger Trump planned to launch Trump, Fulcher & Roxburgh Capital Inc. with two business partners, Carter Fulcher, and Cameron Roxburgh, his former high school classmate.

The company was incorporated in the state of Wyoming on July 15, 2024, according to business filings reviewed by FOX Business. The filings show the company was then dissolved shortly after the election on Nov. 14, 2024.

“As of now, the company will not be relaunched,” Roxburgh told FOX Business.

SEE IT: BUSINESS LEADERS AT TRUMP’S INAUGURATION

Barron Trump, son of President Donald Trump, appears during a campaign event at Trump National Doral Golf Club in Miami on July 9, 2024. (Eva Marie Uzcategui/Bloomberg via Getty Images / Getty Images)

The company was reportedly planning to primarily focus on high-end real estate projects, including golf courses and properties in Utah, Arizona and Idaho.

The venture was listed in Mar-a-Lago in Palm Beach, Florida, as its principal address, according to business records.

Roxburgh previously told Newsweek that the venture was briefly paused to avoid election-related media attention. However, when FOX Business reached Roxburgh for comment, he said the company will not be relaunched.

PRESIDENT DONALD J. TRUMP, VICE PRESIDENT JD VANCE OFFICIALLY SWORN INTO OFFICE

The Trump Building at 40 Wall Street in the Financial District of New York is seen on Feb. 22, 2024. (Getty Images / Fox News)

Fulcher, a luxury real estate expert whose family runs a prominent real estate firm in Idaho, was the third partner in the venture. Fulcher is also the cousin of U.S. Rep. Russ Fulcher, an Idaho Republican who was not involved in the venture, a spokesperson for his office told FOX Business.

FOX Business has reached out to Carter Fulcher for comment.

President Trump followed in his father’s footsteps when he took over his residential real estate company in 1971, which came before he launched multiple Trump luxury high-rise buildings, hotels and casinos and solidified the Trump brand.

Construction work on the Trump International Hotel on Pennsylvania Avenue in Washington, D.C., continues as the hotel prepares to open to the public on Sept. 12, 2016. (Bill Clark/CQ Roll Call / Fox News)

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Days before the younger Trump incorporated his venture, his half-brother, Eric Trump, also incorporated ET Talks LLC.

January 23, 2025
Trump announces major AI infrastructure investment

President Trump makes a major infrastructure announcement on his second day in office.

President Donald Trump unveiled a massive artificial intelligence (AI) infrastructure project from the private sector on the first full day of his second term in office on Tuesday.

During a speech at the White House, Trump announced that Softbank, OpenAI and Oracle have joined forces for a project called Stargate, to build data centers in the U.S. for powering AI.

Then-President-elect Donald Trump speaks during a meeting with the House GOP conference, Nov. 13, 2024, in Washington. (Allison Robbert/Pool via AP, File) (Allison Robbert/Pool via AP, File) / AP Newsroom)

The CEOs of all three tech firms – OpenAI’s Sam Altman, Oracle’s Larry Ellison, and Softbank’s Masayoshi Son – joined Trump from the Roosevelt Room at the White House for the announcement.

The initial investment for the project will be $100 billion, with plans to expand to $500 billion over the next four years. The first data center built under the initiative will be in Texas, and it will eventually expand to other states.

Trump said it is “the largest AI infrastructure project, by far, in history.”

US CEOS HAVE ‘NOTHING BUT HOPE’ THAT TRUMP BRINGS ‘CRAZY GOOD GROWTH’ FOR BUSINESSES

Trump was working to drum up private business investments in the U.S. prior to his second term. Last month, Son joined Trump in announcing Softbank’s plans for a $100 billion investment in America aimed at generating 100,000 new jobs.

A White House official told FOX Business that post-election, Trump has now secured $1 trillion in private investment for the U.S. in various projects.

Kona Ice CEO Tony Lamb and Layne’s Chicken Fingers CEO Garrett Reed share why they believe President Trump will be beneficial for their businesses.

As a candidate in 2016, Trump promised to push a $1 trillion infrastructure bill through Congress. He talked about the topic as president often during his first term from 2017 to 2021, but it did not come to fruition.

BUSINESS, ENERGY GROUPS PRAISE TRUMP’S DAY 1 ACTIONS

His Democratic successor, Joe Biden, signed a $1 trillion infrastructure bill into law in 2021 with Republican and Democrat lawmakers to fund thousands of projects to rebuild roads and bridges and fund new climate resilience and broadband initiatives.

Then-President Joe Biden speaks during an event at the South Court Auditorium in the Eisenhower Executive Office Building at the White House on October 23, 2023 in Washington, DC. During the event Biden spoke on how his administration’s “Bidenomics” (Anna Moneymaker/Getty Images / Getty Images)

The second Trump administration and the new Congress will have opportunities to put their stamp on the infrastructure law Biden passed. Agency officials will be able to award tens of billions of dollars in remaining competitive grants, Brookings Institution said in a blog in November.

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Meanwhile, Trump has signed dozens of executive orders since he was sworn into office on Monday, advancing his administration’s goals on issues from illegal immigration to withdrawing from the World Health Organization.

FOX Business Edward Lawrence, Fox News Digital’s Paul Steinhauser and Reuters contributed to this report.

January 23, 2025
Ben & Jerry’s co-founder launches contest to support Elon Musk’s Dept of Government Efficiency: ‘DOGE vs Blob’

Andreessen Horowitz general partner Katherine Boyle discusses the impact of leadership change on the defense sector on ‘The Claman Countdown.’

Ben & Jerry’s co-founder Ben Cohen threw his support behind Elon Musk and the Department of Government Efficiency (DOGE) with the launch of a new meme contest on Monday.

On the day of President Donald Trump’s inauguration and the establishment of DOGE, Cohen posted on X that he would be launching the “DOGE vs. Blob” website as a way of backing the department.

“Pentagon bureaucrats torch $2 million of taxpayer money every minute. In honor of @DOGE, I’m launching @dogevsblob, a meme contest highlighting the biggest gov’t spender + waster. We’re giving away 1,000 @dogecoin a day. If anyone can slash the Pentagon budget, @elonmusk can. Let’s support him,” Cohen wrote.

VERMONT NATIVE AMERICAN CHIEF SAYS BEN & JERRY’S HEADQUARTERS ON ‘STOLEN’ LAND

Cohen linked to the website and told followers that they could enter for free up to nine times a day for the next 100 days. He wrote that he will select the two best memes for the grand prize of 10,000 DOGE coins each.

The “DOGE vs. Blob” website highlighted multiple examples of government waste at the Pentagon, stressing how the DOD had failed its seventh consecutive audit in a row.

“Unelected bureaucrats in Washington are torching $2 million of taxpayer money every minute — fueling endless wars, lining their pockets, and drowning the nation deeper into debt. Over $6 trillion has gone to disastrous war efforts, malfunctioning weapons systems, and crony contracts. That ends now,” the website says.

President Donald Trump established Elon Musk’s Department of Government Efficiency (DOGE) after his inauguration on Monday. (Getty Images / iStock / Getty Images)

It continued, “Elon created DOGE to take down the Pentagon’s bloated budget, nicknamed the Blob for its uncontrollable sprawl. Join the coalition of Blob slayers by spreading facts that inform, shock, and move the needle on Washington’s most wasteful farce — and stack some dogecoin while you’re at it.”

BEN & JERRY’S GETS ‘BUD LIGHT TREATMENT’ AFTER CLAIMING JULY 4 THAT US SITS ON ‘STOLEN INDIGENOUS LAND’

In a comment to FOX Business, Cohen said, “I’m supporting an issue and I’m happy to work together with anyone else who supports that issue… I think the key to get anything done in the country is to work with people of any political persuasion where you have common ground. And that’s what I’m looking to do.”

Cohen and his company have often supported progressive politicians and causes, such as Ben & Jerry’s controversial July 4th tweet in 2023 calling for the U.S. to return “stolen Indigenous land.”

However, Cohen has also previously voiced his disdain for U.S. involvement in Ukraine’s war with Russia and called for peace negotiations, which Musk has endorsed.

Ben & Jerry’s co-founder Ben Cohen launched the “DOGE vs. Blob” website. (Pavlo Gonchar/SOPA Images/LightRocket via Getty Images / Getty Images)

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“In the end, money won,” Cohen said in 2023. “And today, not only are they providing weapons to all the new NATO countries, but they’re providing weapons to Ukraine.”

“I’m not supporting Russia, I’m not supporting Ukraine,” he added. “I’m supporting negotiations to end the war instead of providing more weapons to continue the war.”

January 23, 2025
American-made space heaters sold on Amazon recalled due to electric shock, fire hazards

Home appliance expert shares tips

Nearly 8,000 American-made space heaters were recalled in the U.S. after officials found they could cause electric shock and fire hazards.

The U.S. Consumer Product Safety Commission on Thursday recalled 7,780 Vornado VH2 Whole Room Heaters, which are sold exclusively on Amazon.

The CPSC claims the power cord can “partially detach” from the heater enclosure, potentially leading to cord damage over time, posing electric shock and fire hazards.

The U.S. Consumer Product Safety Commission recalled thousands of Vornado VH2 Whole Room Heaters. (Photo courtesy of the U.S. Consumer Product Safety Commission / Fox News)

MORE THAN 500,000 ELECTRIC SPACE HEATERS RECALLED DUE TO OVERHEATING CONCERNS

No injuries have been reported, as of Tuesday afternoon, according to officials.

The recall involves Vornado VH2 Whole Room Heaters with a “JUL24” or “AUG24” date code and “TYPE VH2” printed on the silver rating label on the bottom of the heater, according to the commission.

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AMZN AMAZON.COM INC. 235.01 +4.30 +1.86%

The heaters are off-white and have thermostatic temperature control, automatic or continuous fan operation, and two heat settings, according to the CPSC. “Vornado” with a red “V” behind it is printed on the front of the unit. Only units with a “JUL24” or “AUG24” date code are included in the recall.

The heaters in question were sold on Amazon from August to October for about $90, according to the commission.

The U.S. Consumer Product Safety Commission recalled thousands of Vornado VH2 Whole Room Heaters. (Photo courtesy of the U.S. Consumer Product Safety Commission / Fox News)

AMAZON’S RING RECALLS 350,000 VIDEO DOORBELLS FOR FIRE HAZARD

The product was sold by Vornado Air LLC, of Andover, Kansas, and manufactured in the United States, according to officials.

“Consumers should immediately stop using the recalled heaters and contact Vornado to confirm that their product is part of the recall and receive instructions on how to receive a free replacement heater,” according to the CPSC.

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To receive a replacement, contact Vornado by calling 844-205-7978 or by emailing [email protected].

January 23, 2025
Netflix raises U.S. subscriber prices, attributes success to ‘Squid Game,’ NFL games, Paul-Tyson fight

Evercore ISI senior managing director Mark Mahaney analyzes Uber and explains why he’s raising his Netflix price target on ‘Varney & Co.’

Netflix subscribers will see a noticeable jump in their monthly subscription fees, as the streaming company revels in new viewership.

In a letter to shareholders on Tuesday, the company announced it had increased prices across most plans in the U.S., Canada, Portugal and Argentina.

Standard monthly memberships jumped a dollar, up to $7.99 a month, according to Gregory K. Peters, Netflix co-CEO, president and director.

Lucas Bahdi and Armando Casamonica fight during Netflix: Jake Paul vs. Mike Tyson at AT&T Stadium in Arlington, Texas, on Nov. 15, 2024. (Sarah Stier/Getty Images for Netflix / Getty Images)

NETFLIX CO-CEO TED SARANDOS TO MEET WITH TRUMP

Memberships without ads will increase more than two dollars, up to $17.99 per month, Peters said. Premium subscribers will have to shell out an extra two dollars a month, bringing the monthly fee to $24.99.

Peters described the company’s new pricing as “highly accessible.”

“You’ve seen us take up price across a number of markets in EMEA and APAC and LatAm over the last couple of quarters across most plans and including ads, too. And those changes have gone smoothly,” Peters said. “We certainly expect the same for these latest changes.

“I think it’s worth noting and reiterating that we believe that our starting price — it’s $7.99 in the U.S., $17.99 in Canada for standard with ads — is an incredible entertainment value and it’s a highly accessible entry point.”

The new prices are already reflected on the streaming service’s website.

The Netflix logo is seen on a TV remote controller in this illustration taken Jan. 20, 2022. (Reuters/Dado Ruvic / Reuters)

Netflix saw a whopping 19 million new subscribers in the fourth quarter, contributing to its total 302 million subscribers globally.

Live events, including the Jake Paul vs. Mike Tyson fight and two NFL games, contributed to the company’s recent success, according to leadership.

The fight was the most-streamed sporting event of all time, and on Christmas Day, the platform delivered the two most-streamed NFL games in history.

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NFLX NETFLIX INC. 953.99 +84.31 +9.69%

TECH LEADERS BEZOS, ZUCKERBERG, COOK AND PICHAI LOOK FOR FACE TIME WITH TRUMP

Ted Sarandos, co-CEO, president and director, noted the underlying economics of full-season big league sports is challenging, but if there was a way to make it work, Netflix would explore it.

In addition, the company saw success with the second season of its original series, “Squid Game,” which garnered nearly 166 million views.

Other top performing shows included: “The Diplomat” season 2 with 21.4 million views, “Senna” with 16.2 million views, “The Empress” season 2 with 21 million views, “Outer Banks” season 4 with 36.8 million views, “The Lincoln Lawyer” season 3 with 33.9 million views, and “Virgin River” season 6 with 27.5 million views.

Netflix CEO Ted Sarandos, left, and actor Lee Jung-jae attend Netflix’s FYSEE event for “Squid Game” at Raleigh Studios Hollywood in Los Angeles on June 12, 2022. (Charley Gallay/Getty Images for Netflix / Getty Images)

Leadership noted the company only earns 6 percent of the revenue opportunity in the countries and segments it currently serves.

By improving and expanding its offerings, the company hopes to increase the share every year.

“As we continue to invest in programming and deliver more value for our members, we will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix,” investors were told in the letter.

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Revenue in the fourth quarter jumped 16% year-over-year, reaching $10.25 billion, according to company data. A $15 billion stock buyback pushed shares up 13% on Tuesday afternoon.

January 23, 2025