The writers' deal included minimum pay increases of 5%-4%-3.5% over 3 years, 50% residual viewership-based bonus, and AI protections. Yahoo Finance’s Alexandra Canal notes that although the WGA and SAG are different, “the threadline is similar, in terms of what they were fighting for.” Some elements in the actors' deal included, 7% general wage hike, AI protections, and $40 million a year streaming residual bonus. The WGA went on strike in May and the SAG joined the writers on the picket line in July. Union Strikes (00:02:15) The entertainment and automotive industry were both impacted by strikes this year as Writers Guild of America, Screen Actors Guild, and United Auto Workers went on strike. Yahoo Finance named Novo Nordisk as the 2023 Company of the Year, as the company's Ozempic and Wegovy are very popular drugs in the weight loss space. ![]() “There’s type 2 diabetes drugs and weight loss drugs that make up the class of GLP-1 drugs… The diabetes drugs are Novo Nordisk’s (NVO) Ozempic and Eli Lilly’s (LLY) Mounjaro, which are both available off-label for weight loss,” Khemlani notes. Yahoo Finance Health Reporter Anjalee Khemlani discusses the GLP-1 drugs. Weight Loss Drug Craze (00:01:56) Weight loss drugs have grown in popularity this year. Process errors made up 27 percent and unknown reasons made up the last seven percent. Organized retail theft made up 36 percent of that number, while internal theft made up 29 percent. According to the National Retail Federation, there was $112.1 billion of losses in fiscal year 2022, which was up 1.6 percent year-over-year. We won’t know retail theft’s impact for 2023 till next year, but Yahoo Finance’s Brooke DiPalma takes a look at the average shrink rate in 2022. Retail Theft (00:01:37) Retailers such as Walmart (WMT), Target (TGT), and The Home Depot (HD) all noted retail theft this year. In October, the criminal trial began and in November, Bankman-Fried was found guilty on all counts. In August, Bankman-Fried’s bail was revoked and he was transferred from house arrest to prison. In January 2023, Sam Bankman-Fried pleaded not guilty. Bankman-Fried was found guilty of 7 criminal counts and is facing 110 years in prison. Sam Bankman-Fried Goes on Trial (00:01:14) Yahoo Finance Legal Reporter Alexis Keenan discusses Sam Bankman-Fried’s fraud trial. On July 21, Moody’s analytics published “Swiftflation – An Unprecedented Boost” and on July 26, Federal Reserve Chair Jerome Powell was asked a question about Taylor Swift and the Barbie movie in regards to consumer spending. On July 12, Swift received a mention in the Fed Beige Book as the Philadelphia Fed noted the boost in hotel sales and the economy when her Eras Tour came to town. Yahoo Finance’s Josh Schafer breaks down some of Swift’s recognitions in the world of finance news. Swift also received several mentions in financial news for her impact on the economy and consumer spending. Taylor Swift and the Taylor-made economy (00:00:56) It was a big year for Taylor Swift as she embarked on her Eras Tour and released Taylor Swift: The Eras Tour concert film. Number 1: Who will own Hulu? Number 2: What is the future of ESPN? Number 3: What is Disney’s streaming strategy? Number 4: Will Iger reverse Chapek-era theme park updates? And number 5: How to fend off DeSantis? 8. Canal breaks down the 5 questions Iger answered in 2023. ![]() Bob Iger returns to Disney (00:00:29) Disney (DIS) CEO Bob Iger “has addressed several key issues that were big question marks at the end of 2022,” Yahoo Finance’s Alexandra Canal notes. ![]() In July, Musk changed Twitter’s name to X. In May, Elon Musk named Linda Yaccarino the new CEO of Twitter. ![]() In March of 2023, Twitter’s valuation dropped to $20 billion from $44 billion. Yahoo Finance’s Dan Howley breaks down some of the top moments for X, formerly known as Twitter, this year. Twitter Becomes X (00:00:06) Twitter took on a new name and CEO this year. Yahoo Finance breaks down the top 10 stories of the year. As 2023 comes to a close, there were several stories that dominated headlines this year.
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