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2025

Ellison steps in with personal guarantee as Paramount fights for Warner Bros

Ellison steps in with personal guarantee as Paramount fights for Warner Bros 150 150 admin

Dec 22 (Reuters) – Oracle co-founder Larry Ellison has stepped in to personally guarantee $40.4 billion in Paramount Skydance’s latest effort to pry Warner Bros Discovery away from selling its prized Hollywood assets to streaming giant Netflix.

The guarantee, disclosed in a filing on Monday, seeks to allay the Warner Bros board’s doubts about Paramount’s financing and the lack of full Ellison family backing, which had pushed it toward the competing cash-and-stock offer from Netflix.

Here’s what analysts and market experts are saying about the latest development:

SETH SHAFER, PRINCIPAL ANALYST AT S&P GLOBAL, NASHVILLE, TENNESSEE

“I don’t think the revised bid from Paramount Skydance significantly alters the current status quo. I doubt many WBD shareholders that are on the fence or planning to vote ‘no’ were holding out due to issues the revised bid addresses such as a guarantee from Larry Ellison on the funding front.”

“We’re still likely months away from a shareholder vote on the Paramount offer and the planned closing date of the deal agreed with Netflix would be in the second half of 2026. There will likely be many more twists and turns ahead and both Paramount and Netflix have a chance.”

MICHAEL PACHTER, MANAGING DIRECTOR, STRATEGIC PLANNING AT WEDBUSH SECURITIES, CALIFORNIA

“The WBD Board rejected the last offer because they thought it was speculative and revocable. This one makes the offer irrevocable and directly addresses the Board’s concern.

“If the board is rational and ethical (a big if), it must accept the offer, since the $108 billion PSKY offered is more than the $83 billion offered by Netflix. We;ll see what the Board does, but PSKY is right to make this offer directly to them.”

“Yes, Paramount has a chance to win, approaching 100%”

ROSS BENES, SENIOR ANALYST AT EMARKETER, NEW YORK

“The updated offer from Paramount doesn’t change the fact that WBD’s executives prefer Netflix. The new offer does make Paramount’s case more compelling to the board and shareholders. But WBD executives will keep fighting to maintain the Netflix deal as long as they can. This battle will be prolonged.”

PAOLO PESCATORE, ANALYST AT PP FORESIGHT, LONDON

“Paramount remains in a precarious position and is making a last-ditch effort to avoid being left out in the shadows. It cannot afford to lose out and be a weaker player compared to its stronger rivals.”

“The improved offer is a step in the right direction, but it is unlikely to be enough.”

REUBEN MILLER, HEAD OF ANTITRUST AT DEALREPORTER, WASHINGTON DC

“The financing from the sovereign wealth funds opens a regulatory box that needs to be checked. Having these players involved will bring another dimension of scrutiny, as well as a big diplomatic question – how far will using money from Middle Eastern sovereign wealth funds bring them into partnership with one America’s cultural touchstones?”

“Paramount has claimed that any influence from the funds will be neutralised due to their lack of voting rights, but there are other questions at play which make the picture far murkier. Notably, the access of these funds, as key stakeholders, to WBD and Paramount’s data, as well as the wider diplomatic implications of foreign bodies having a vested stake in such a huge entity in U.S. media production and consumption.”

(Reporting by Kritika Lamba in Bengaluru, compiled by Arpan Varghese; Editing by Anil D’Silva)

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South Africans dragged into Russia’s war in Ukraine dig trenches, dodge bullets

South Africans dragged into Russia’s war in Ukraine dig trenches, dodge bullets 150 150 admin

By Tim Cocks

DURBAN, South Africa, Dec 22 (Reuters) – South African father-of-three Dubandlela was overcome with pride when his 20-year-old son signed up in July to receive elite training as a VIP bodyguard in Russia.

Five months later, Dubandlela is in despair. His son had fallen for an alleged recruitment scam in which he and at least 16 other South African men say they were conscripted by an unspecified mercenary group and sent to join Russian forces in Ukraine. 

“I blame myself,” Dubandlela, who had been unable to afford university fees for his son, told Reuters at his home in Durban on South Africa’s eastern coast.

The Russian foreign ministry did not respond to a written request for comment on the alleged scam or the current circumstances of the 17 South Africans. 

PICTURES FROM NEAR THE FRONT LINE

President Cyril Ramaphosa’s spokesman Vincent Magwenya said the case was “receiving the highest possible attention.”

“The process to retrieve those young men remains a very sensitive process,” he said. “They are facing grave, grave danger to their lives and we are still in discussions with various authorities, both in Russia as well as in Ukraine, to see how we can free them from the situation they are in.

“In fact, the emphasis is more with the authorities in Russia and less so with the authorities in the Ukraine, because the information that we have is that they were bungled into the Russian military forces,” he told a press briefing this month.

On Dubandlela’s phone are photos that he said his son had sent earlier this month from what he said was a location near the front line in the eastern Ukrainian region of Donbas.

One shows his son in combat fatigues, awkwardly holding an AK-47 assault rifle. 

Another shows his son trying to sleep in his underwear on the concrete floor of a cupboard-sized basement after taking cover from Ukrainian drones. He looks so thin that his ribs are visible.

Dubandlela, 56, declined to let his full name or that of his son be used in this article over fears for his son’s safety.

He said his son had told him that he and other South African recruits spent all day digging trenches in the freezing cold. 

“Sometimes there’s no food, even for a week; sometimes no water,” Dubandlela said. 

He said his son often cried on the phone. 

“‘I want to come back home…Please, Daddy, talk to someone’,” he quoted his son as saying.   

Reuters was unable to independently confirm some aspects of the accounts provided in interviews by Dubandlela and two South African recruits interviewed by telephone from Donbas.

Much of the Donbas region is now controlled by Russian forces and fighting has been heavy there since Russia invaded Ukraine in February 2022. 

RUSSIAN-LANGUAGE CONTRACTS

The scam that Dubandlela said ensnared his son came to light on November 6, when South Africa said it had received distress calls from 17 men aged between 20 and 39 who said they were trapped in Donbas. 

An investigation into the scam by an elite police unit known as “Hawks” focused on the alleged involvement of one of former President Jacob Zuma’s daughters, Duduzile Zuma-Sambudla. 

Zuma-Sambudla later resigned as lawmaker in the Umkhonto weSizwe opposition party led by her father. She has denied knowing of the scam. 

Zuma-Sambudla did not respond to multiple requests for comment. Her lawyer, Dali Mpofu, declined to comment.

In a police affidavit on November 24, she said she had been “a victim of deception”. Her party told a press conference four days later that her resignation was not an admission of guilt, that it had nothing to do with the scam.

A police spokesperson said they are treating the probe, which is active and ongoing, as a suspected crime against the state, because it is unlawful for South Africans to provide unauthorised military assistance to foreign states, armed groups or mercenaries. 

Days after arriving in Russia on July 11, the 17 recruits were presented with contracts in Russian in the southern city of Rostov-on-Don, two recruits told Reuters by telephone from Donbas.    

They were reluctant to sign, because there was no translator available, but said that Zuma-Sambudla, who was present, persuaded them to do so, saying they were contracts for security training, both recruits said.

Zuma-Sambudla did not respond to a Reuters request for comment about her presence at the meeting in Donbas.

When the recruits found out they were going to war, “we were shocked,” one told Reuters by telephone from Donbas.

“THERE IS NO STRESS”

In August, both South African recruits said, they were told they were going to war.

WhatsApp exchanges shared with Reuters between one of the recruits and Zuma-Sambudla – on her verified account with her phone number and picture – show a message in which the recruit says “as we speak now, we are packing and preparing to move to war.” 

“It’s not the front line. They are just scaring you,” comes the reply from a person whose identity Reuters could not establish, and an explanation that the recruits will “only patrol.”

“Ok, now they are taking our stuff, like bank cards and phones,” writes the recruit, who is told: “it’s fine, there’s no stress”.

The recruit who shared the exchange with Reuters is a 40-year-old South African bodyguard with children of 17, 11 and 3 who declined to be identified for safety reasons. He said the exchanges with Zuma-Sambudla happened in the late morning of August 28. Zuma-Sambudla did not respond to Reuters’ queries about the messages.

The man said he and the other recruits frequently had their phones taken off them and often ate just bread and tinned fish.

They loaded artillery shells into launchers, had basic military equipment and feared for their lives, he said. The man said he was in Donbas when Reuters last spoke to him on Dec. 18.

DEATH ON THE FRONT LINE  

It is not just South Africans who unwittingly ended up in Ukraine’s war. Kenya said on Nov. 12 over 200 of its citizens were fighting for Russia in Ukraine, and that recruiting agencies were still actively working to lure more Kenyans into the conflict. Authorities in Botswana have said two men were duped into joining the war under false promises of jobs.

Russia’s foreign ministry did not respond to a written request for comment. Russia does not comment on foreign mercenaries fighting in Ukraine.

Ukraine’s foreign minister said last month that more than 1,400 citizens from three dozen African countries were fighting alongside Russian forces in Ukraine. Russia does not provide details of non-Russians fighting in Ukraine. 

Among those who went to fight, in August, was 22-year-old Kenyan David Kuloba. His mother, Susan, shared a copy of his contract in Russian with Reuters. 

David agreed to “voluntarily … enter military service for the period stipulated by this contract period, … be true to the military oath, selflessly serve the Russian people, and courageously and capably defend the Russian Federation,” the contract states.

When he realised he would be sent to Ukraine, he reassured his mother he’d be safe, she told Reuters. 

That was the last she heard from him. 

Responding on Friday to Reuters questions on David’s whereabouts, a spokesperson for the Kenyan foreign ministry said “investigations are still ongoing and multi-agency-led (so) we can are only await more details.”

Yet on September 30, Susan received a voice message from one of David’s fellow combatants on WhatsApp who had witnessed what happened: David was killed in an explosion on the front line.

(Additional reporting by Sisipho Skweyiya in Durban, Siyabonga Sishi, Nqobile Dludla and Alexander Winning in Johannesburg, Vincent Mumo Nzilani in Nairobi, Brian Benza in Gaborone and the Moscow newsroom, Editing by Silvia Aloisi and Timothy Heritage)

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Trian, General Catalyst to buy Janus Henderson for $7.4 billion

Trian, General Catalyst to buy Janus Henderson for $7.4 billion 150 150 admin

Dec 22 (Reuters) – Nelson Peltz’s Trian and VC firm General Catalyst have agreed to buy asset manager Janus Henderson for $7.4 billion, the companies said on Monday, bringing to close a more than five-year activist campaign by the billionaire’s hedge fund.

The deal highlights a broader push for asset managers to merge as they struggle to compete with cheap index funds run by firms like BlackRock and Vanguard.

Janus Henderson shareholders will receive $49 per share in cash, reflecting an 18% premium to the closing price on October 24, the last trading day before the first proposal from Trian and General Catalyst was revealed.

Shares of the company rose 3.4% in early trading. They have outperformed peers T. Rowe Price and AllianceBernstein this year.

Janus Henderson formed in May 2017 when Henderson Group merged with Janus Capital, in a deal that initially underwhelmed investors as the asset manager continued to face outflows and internal disputes.

Peltz joined Janus Henderson’s board in 2022 after building a significant stake. He has long advocated consolidation in the fragmented asset-management sector, where a larger asset base can translate into higher fees and margins.

Trian, which made headlines last year after an unsuccessful proxy battle for Disney board seats, is Janus Hendersons’ largest shareholder with a 20.6% stake after first investing in 2020.

After going private, current CEO Ali Dibadj will continue to lead the company.

The investor group taking Janus private also includes Qatar Investment Authority and Hong Kong-based alternative investment company Sun Hung Kai & Co.

The deal is expected to close in mid-2026.

(Reporting by Ateev Bhandari in Bengaluru; Editing by Sahal Muhammed, Anil D’Silva and Tasim Zahid)

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Singer-songwriter Chris Rea, known for ‘Driving Home for Christmas,’ dies at 74

Singer-songwriter Chris Rea, known for ‘Driving Home for Christmas,’ dies at 74 150 150 admin

LONDON (AP) — Chris Rea, the singer and songwriter best known for the hit “Driving Home for Christmas,” has died at 74, his family said Monday.

Rea died in the hospital following a short illness, according to a statement from his family to Britain’s Press Association news agency.

Rea found fame in the 1980s in Britain with hits such as “Fool (If You Think It’s Over)” and “Let’s Dance.”

Two of his studio albums, “The Road to Hell” in 1989 and “Auberge” in 1991, went to number one in the country.

“Driving Home for Christmas,” did not become an overnight hit when it was first released in 1986, but the gentle track proved to be an enduring success over the decades and remains one of the U.K.’s most-loved festive songs. It featured in a TV advertisement for the retailer Marks and Spencer just this year.

The musician was born in 1951 in Middlesbrough, in northeast England, to an Italian father and Irish mother. He took various jobs after leaving school and helped out in his family’s ice cream business.

He came late to the guitar, picking one up at 21, and played in bands before going solo.

He had suffered from health problems including pancreatic cancer, and in 2016 he suffered a stroke. In more recent years he turned away from pop and released several bluesy records.

Rea is survived by his wife and two daughters.

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12/21: Sunday Morning

12/21: Sunday Morning 150 150 admin

Hosted by Jane Pauley. Featured: the town that inspired “It’s a Wonderful Life”; Sean Ono Lennon on his parents’ legacy; the a capella group Pentatonix; a New Mexico monastery; remembering Rob Reiner; and the Rockettes.
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12/21/2025: The Sherpas of Everest; Presenting the Kanneh-Masons

12/21/2025: The Sherpas of Everest; Presenting the Kanneh-Masons 150 150 admin

First, a report on Sherpas risking their lives to help climbers reach Everest’s summit. Then, the Kanneh-Masons: Meet the musical siblings.
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CBS News: Rob Reiner – Scenes from a Life

CBS News: Rob Reiner – Scenes from a Life 150 150 admin

CBS News celebrates the life and legacy of Hollywood legend Rob Reiner in a one-hour special featuring emotional new interviews with Kathy Bates, Annette Bening, Albert Brooks, Michael Douglas, Jerry O’Connell, Mandy Patinkin and Kiefer Sutherland. Plus, hear from Reiner in his own words as CBS News draws on its vast archive of interviews with the iconic filmmaker through the years.
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Trump appointee inspired by conservative media outlet to push for probe of Democratic congressman

Trump appointee inspired by conservative media outlet to push for probe of Democratic congressman 150 150 admin

(Corrects story for clarity, moves prior paragraph 6 on expert comments under subhead and includes more of the quote from Gateway Pundit author)

By Chris Prentice and Marisa Taylor

NEW YORK/WASHINGTON, Dec 20 (Reuters) – A mortgage fraud probe of a Democratic congressman began last month after William Pulte, the Republican head of the Federal Housing Finance Agency, referred allegations from a conservative news site to his agency’s inspector general for possible criminal investigation, government emails seen by Reuters show.

On November 12, The Gateway Pundit published an article alleging U.S. Representative Eric Swalwell had improperly listed his Washington, D.C., home as his “principal residence” on mortgage paperwork. Swalwell, a critic of President Donald Trump who represents a Northern California district and is now running for governor of California, an office that requires residency in that state, has said he is a permanent resident of California. According to loan documents, however, Swalwell had listed his home in Washington as his “principal residence.”

An email reviewed by Reuters shows Pulte sent a link to the article to the FHFA’s acting inspector general that day, urging him to take all appropriate action “including – if warranted -engagement with the Department of Justice regarding potential mortgage, tax or other fraud related to the representations made in mortgage documents or other items in the below article.”

That same day, Pulte also referred the issue to the Justice Department, said a source familiar with the matter who spoke on the condition of anonymity because they were not authorized to discuss the matter publicly.

The FHFA and Pulte did not respond to requests for comment. Pulte has previously defended the initiative, saying mortgage fraud undermines the U.S. housing market.

The Gateway Pundit contributor who wrote the article said he is “happy to see more coverage of Swalwell’s residency problems”. A spokesperson for the Justice Department declined to comment.

Banks generally offer lower interest rates to principal residences when compared to vacation homes or investment properties, allowing owners to save money on mortgage payments.

REFERRAL FITS BROADER PATTERN

The allegation against Swalwell echoes those Pulte has leveled against several prominent Democrats and public officials, including New York Attorney General Letitia James, U.S. Senator Adam Schiff of California and Federal Reserve Board Governor Lisa Cook. All have come under sharp fire from Trump, a Republican, in his fierce campaign against perceived opponents.

Ethics experts have criticized Pulte’s tactics in seeking to target individuals for mortgage misstatements, historically rare prosecutions.

“This has been part of the broader pattern of the politicization of the Department of Justice. It’s highly unethical to try to go after political enemies like this,” said Richard Painter, the chief White House ethics lawyer under former Republican President George W. Bush. 

“It’s an abuse of public office and an abuse of public trust.”

A congressional watchdog this month said it will open a probe to examine if Pulte abused his authority as he circumvented the FHFA’s traditional investigative process in what critics say are politically motivated attacks.

The FHFA office of inspector general typically investigates mortgage fraud and refers matters to criminal prosecutors as needed, but Reuters previously reported Pulte has bypassed that office in making such referrals. 

The communications between Pulte and the FHFA OIG were obtained by Democracy Forward, a legal organization with prominent Democrats on its board, and reviewed by Reuters. 

Swalwell in late November pushed back, suing Pulte and the agency for violating his privacy in retrieving his mortgage records and for retaliating against him for exercising his First Amendment rights. 

In the lawsuit, Swalwell has said that he is a permanent resident of California and “disclaimed any intent to occupy the District of Columbia home as his primary residence in a sworn affidavit attached to his mortgage agreement.”

“Trump and his team’s allegations against me are nonsense,” Swalwell told Reuters in a statement. “Pulte’s newly revealed conduct only reinforces why I brought this case. I intend to see it through.”

A federal judge has dismissed a fraud case against New York Attorney General Letitia James that emerged from Pulte’s referral, and two subsequent grand juries have declined to indict her again. James and the other targets of Pulte’s mortgage fraud campaign have denied wrongdoing.

(Reporting by Chris Prentice and Marisa TaylorAdditional reporting by Sarah N. Lynch; editing by Diane Craft)

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Malaysia court dismisses ex-PM’s bid to serve sentence under house arrest

Malaysia court dismisses ex-PM’s bid to serve sentence under house arrest 150 150 admin

KUALA LUMPUR, Dec 22 (Reuters) – A Malaysian court on Monday dismissed jailed ex-premier Najib Razak’s bid to serve the remainder of his sentence at home, saying a royal document allowing the move was invalid as it was not made according to procedure.

Najib, imprisoned since August 2022 for his role in the multi-billion dollar 1MDB scandal, was bidding to compel authorities to confirm the existence of and execute a royal order that he said was issued last year as part of a pardon by the then-king, entitling him to serve the remainder of his sentence at home. 

Kuala Lumpur High Court judge Alice Loke said the existence of the order was not in dispute, but the former king should have consulted the country’s pardons board before making the order to allow Najib house arrest.

The decision to deny him house arrest comes just days before Najib faces his biggest trial in the 1MDB scandal, with another court set to deliver its judgement on Friday. Najib has denied all of the charges brought against him.

(Reporting by Ashley Tang; Writing by Rozanna Latiff; Editing by Martin Petty)

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U.S. pursuing third oil tanker off Venezuela coast, official says

U.S. pursuing third oil tanker off Venezuela coast, official says 150 150 admin

The U.S. Coast Guard is pursuing another sanctioned oil tanker near Venezuela, a U.S. official tells CBS News. It’s another move by the Trump administration to put pressure on Venezuela’s Nicolas Maduro. Willie James Inman reports.
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