Amazon Considers Launching Ad-Supported Prime Video Tier, Google & Microsoft Face Backlash For Ad Inclusion In AI Trials, Airbus Records One-Third Jump In May Deliveries: Today's Top Stories

Wall Street Journal

Balancing Profitability and Entertainment: Amazon Considers Launching Ad-Supported Prime Video Tier

• Amazon.Com Inc AMZN looks to launch an advertising-supported Prime Video streaming service tier to build its ad business further and generate more entertainment revenue.
• Advertising has been an area of continued growth for Amazon, growing by 21% year over year to $9.5 billion in the first quarter.
• Advertisers expressed interest in Amazon offering an ad tier for Prime Video service, likely to inspire other streaming platforms, including Netflix Inc NFLX and Walt Disney Co DIS.
• Specifically, ad buyers claimed more access to premium movies and programs that have mainly remained ad-free.

 

Reuters

Dilemma of Ad Transparency: Google and Microsoft Face Backlash for Ad Inclusion in AI Trials

• Alphabet Inc GOOG GOOGL Google and Microsoft Corp's MSFT inserting of ads into AI trials without any opt-out option has irked some brands.
• Microsoft is testing ads in the Bing AI chatbot by migrating some traditional search ads and inserting them into the AI responses.
• Both companies are in the early stages of testing ads in generative AI features in their race to revamp their search engines with AI capable of written responses to open-ended queries.

BlackRock Seeks $7B For New Global Renewable Power Fund

• BlackRock Inc BLK plans to raise up to $7 billion for its fourth Global Renewable Power Fund.
• The fund, which focuses on projects in Organisation for Economic Co-operation and Development nations, might invest in wind and solar power and other green technology like batteries and grid infrastructure.
• The U.S. and the European Union introduced significant financial backing for clean energy to help curb carbon emissions in the fight against global warming, which has fueled the movement.

Toshiba Board Urges Shareholders To Approve $14B Takeover

• Toshiba Corp TOSBF TOSYY board reportedly recommends shareholders take up a tender offer from a group led by Japan Industrial Partners.
• The $14 billion buyout will take the Japanese conglomerate private. The tender offer is expected to launch in late July.
• In light of unfavorable circumstances, such as the sluggish leveraged loan market and increased interest rates, the board concluded on Thursday that the price was "fair and reasonable," with no prospects of a better offer or rival bid.

 

Benzinga

Airbus Records 34% Growth In May Deliveries

• Airbus SE EADSY delivered 63 airplanes to 36 customers in May, up 34% year-over-year. The total number of deliveries this year totaled 244 airplanes to 70 customers. For May 2023, gross orders were 17.
• The company has recently received a firm order for 43 helicopters from business aviation operator Air Corporate in Italy. 

FDA Signals Support for Eisai-Biogen Alzheimer's Drug Data Confirms Benefits For Complete Approval

• FDA Peripheral and Central Drugs Advisory Committee is meeting Friday (June 9) to discuss a supplemental marketing application for Leqembi (lecanemab) submitted by Eisai Co Ltd ESALY for Alzheimer's disease, initiated in patients with mild cognitive impairment or mild dementia stage of the disease.
• Wednesday, the FDA released briefing documents ahead of the meeting that appears to support a full FDA approval for Leqembi.
• In the study, Leqembi was tested against a placebo in patients with mild cognitive impairment due to Alzheimer's or mild Alzheimer's dementia. 

Novartis' Sandoz Foresees Rapid Growth Post-Spin-Off in Generics Market Amid Upcoming Patent Expirations

• Novartis AG's NVS generics unit Sandoz tells investors it can add $3 billion in annual sales over the next five years from launching new products after it spins out of its parent company later this year.
• Sandoz says the biosimilar pipeline has trebled in size over recent years, with 24 products, on top of a core generic pipeline of more than 400 products.
• Novartis confirmed it expected Sandoz to generate mid-single-digit net sales growth this year and anticipated that the growth rate would remain in this range between 2024 - 2028.

BlackRock Boosts Global Credit Business With Kreos Capital Buyout

• BlackRock Inc BLK announced a deal to acquire Kreos Capital for undisclosed terms.
• Kreos offers growth and venture debt financing to companies in the technology and healthcare industries.
• Kreos is headquartered in London, and its 45-person team will join BlackRock as part of the transaction.
• The acquisition will complement BlackRock's Global Credit business and enhance its position as a global credit asset manager.

 

Bloomberg

Amid Industry Trend, Microsoft Markets Times Square Offices for Sublease

• Microsoft Corp MSFT prepared to sublease offices in Manhattan's Times Square as peers pared back real estate.
• The tech firm is marketing over 42,000 square feet (3,900 square meters) of offices at 11 Times Square.
• Microsoft, which has been downsizing its workforce, reduced its real estate presence, including abandoning plans for a new office complex in London.

 

Techcrunch

Uber Launches Peer-to-Peer Car Sharing in North America, Marking Sustainability Efforts

• Uber Technologies Inc UBER disclosed plans to bring peer-to-peer car sharing to North America, starting with Toronto and Boston, at its Go-Get product event in London Thursday. 
• It marks the company's sustainability move and part of its effort to curb emissions— goals it repeatedly mentioned during the event.
• Customers in Uber Carshare cities can use the app to browse and reserve vehicles, which will be available for rent by the hour or the day. 

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