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Yahoo
20 hours ago
- Business
- Yahoo
Warner Bros. Discovery CFO to head cable division in planned split
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. Warner Bros. Discovery's newly unveiled plan to split itself into two is expected to bring about a big promotion for the company's CFO. The New York City-based media giant on Monday said it intends to split itself into two publicly traded companies — one overseeing the company's streaming offerings and the other leading its cable networks, including CNN and TNT. Gunnar Wiedenfels, who has served as CFO since Warner's merger with Discovery in April 2022, is set to become president and CEO of the cable division. Wiedenfels, who previously served as an executive at a German media company, first started working as finance chief for Discovery in 2017. In a news release, Wiedenfels said the division will enable the spinoffs to 'leverage their strength and specific financial profiles' and 'pursue important investment opportunities.' As head of the cable division, Wiedenfels said he intends to find 'innovative ways to work with distribution partners to create value for both linear and streaming viewers globally while maximizing our network assets and driving free cash flow.' The tax-free split is expected to be completed in mid-2026, according to the release. David Zaslav, president and CEO of Warner Bros. Discovery, will lead the streaming division. The company hasn't yet disclosed who will make up the rest of the executive team of the new spinoffs. The cable division, referred to as 'Global Networks' in company documents, is expected to take most of Warner Bros. Discovery's reported $37 billion debt with it. In a media call cited by The Hollywood Reporter, Wiedenfels said it's 'safe to assume that the majority' of the company's current debt load will go to the cable division, although a 'not-insignificant' portion would remain with the streaming side. Ahead of the proposed split, Warner Bros. Discovery also said it plans to take out $17.5 billion in short-term financing provided by J.P. Morgan. 'Each company will have well-capitalized structures to support their businesses,' Warner Bros. Discovery officials said in the release. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Many Americans unlikely to quit over RTO mandates
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. Return-to-office mandates may no longer be a dealbreaker for American workers. That's the upshot of recent research by Dutch recruiting and talent firm Randstad. In a survey of 750 U.S. workers, 63% said they're unlikely to quit their jobs if their employers ask them to report to the workplace three or more days a week. More important than the option to work remotely, according to the study, is the concept of 'employability,' which Randstad defined as 'the ability to stay skilled, relevant and secure in a changing job landscape.' To wit: 70% of respondents said they'd prefer greater employability over the ability to work remotely. The research may mark a reversal in worker preferences amid shifting economic conditions over the last few months. The Pew Research Center in January, for instance, reported that 'many American workers say they'd rather find a new job than give up working from home.' 'While remote work was a priority for talent at the beginning of 2025, we're seeing a shift,' said Randstad North America CEO Marc-Etienne Julien in an email to 'As the economic outlook becomes more uncertain, the majority of American workers are now prioritizing employability over remote work. It's not that they no longer value remote work, it's that they're starting to weigh it against other factors that affect their future.' At the same time, respondents in Randstad's study were apparently willing to trade higher pay for less stress. 'The survey also indicated that workers are moving away from high-stress positions, with almost two-thirds (61%) of respondents preferring less stress over higher pay, and nearly half (41%) saying they have already taken pay cuts for lower-stress jobs,' the report stated. When it comes to retention, though, pay still matters: Randstad found a pay raise was the 'top retention driver' for 79% of respondents. It's worth noting, too, that retention factors appeared to differ among industries. 'When asked what would influence them to stay in their current role for five years, annual pay raises in line with or above inflation are more important to manufacturing workers (90%) than to any other industry, highlighting how financial stability is the foundation of long-term loyalty in this sector,' the survey said. 'In today's uncertain economic environment, it's no surprise that employability remains a top priority to workers,' Randstad's Julien said in a news release. 'But what really stands out… is the growing emphasis on flexibility, wellbeing and setting boundaries. These factors are becoming just as critical, if not more, for employers looking to attract and retain talent.' Though American workers may not give up their jobs over a return-to-office mandate, they're still asking for more flexibility in other ways. For instance, Randstad's survey of U.S. workers found 63% expect 'more flexibility with work hours' if they're asked to report to the office on a full-time basis. About 62% said they'd expect more paid time off and a higher salary if working in the office full time. Randstad surveyed American workers across 17 industries. Most of them were white-collar workers (41%), followed by grey-collar (34%) and blue-collar (25%). The findings derive from Randstad's wider Workmonitor Pulse survey, which was conducted between late March and mid-April. That annual survey queried 5,250 workers in Australia, Germany, Italy, Japan, Poland, the United Kingdom and the United States. Recommended Reading Return to office policies create real estate cost efficiencies Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
76% of workers have seen senior colleagues resist new tech
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. If you're looking for cues as to how your employees will adapt to new technology tools, consider the age profile of the organization's workforce. In a survey of 500 U.S. professionals across various industries conducted by Yooz, a provider of purchase-to-pay automation, more than three-quarters (76%) of all workers witnessed senior colleagues push back against new technology. Furthermore, 55% of millennials (those born 1981 to 1996) said they're 'excited and eager' to try new tools, while only 22% of baby boomers (those born 1946 and 1964) said the same. More than a third (35%) of the baby boomers said they feel cautious or annoyed, or prefer sticking to the old system, when new technology is plugged in. Not a single Gen Z survey participant (those born 1997 and 2012) selected that response. At the same time, about a quarter of Gen Z employees have refused to use a new workplace tool, more than any of the other generations, which Yooz characterized as Gen Z not being 'afraid to say no.' About AI specifically, 35% of Gen Z workers said they 'love' new tools, versus 13% of Boomers. Still, 40% of employees overall said they find AI helpful but unreliable. 'The takeaway: skepticism is still widespread, but younger employees see clear value,' Yooz wrote in its survey report. The report said organizations 'need to manage rollouts carefully: leverage the enthusiasm of younger adopters to build momentum, but also address the concerns of veteran staff who may need more reassurance to get on board.' The key to winning over anyone reluctant to embrace AI is building trust through real-world use cases and support, showcasing quick wins such as an AI tool that saves everyone time on a tedious task, Yooz wrote. Among employees, the most commonly cited need with regard to new technologies is better training on AI tools. More than half (52%) of those polled said their company takes a 'learn-as-you-go' approach, providing only some basic training or documentation. Relatively few employees said their employer provides 'a lot' of training on new tools. This embedded content is not available in your region. And, almost half (48%) of the employees said better training for all would be among the most effective ways to help a company adopt new technology more effectively. The research also delved into the question of who should drive decisions to implement new workplace technology. While younger employees are craving clear direction from the C-suite, at the same time, there is 'a call for more bottom-up input in tech decisions,' according to the survey report. More than a third (35%) of Gen Z respondents said new workplace tools should be chosen by leadership with input from younger employees. Additionally, more than a quarter of Millennial and Gen Z respondents said adoption would improve if leadership embraced change faster and more visibly. A sizable minority (28%) of Gen Z employees said they feel older employees are actively holding back innovation at their company. Yooz advised a collaborative approach to the issue, pairing 'tech-savvy younger employees with veteran staff to share knowledge and encourage cross-generational support during rollouts.' Yooz partnered on the research with Pollfish, a third-party survey platform, and it was conducted in February 2025. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
The 6 a.m. CFO: How Rimini Street's Michael Perica starts his day
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. Welcome to The 6 a.m. CFO, where finance chiefs share how they jump-start their days and engage with the tasks that are in front of them. Today, Rimini Street's CFO, Michael Perica, shares his morning routine. Be sure to check out the entire 6 a.m. CFO series, and if you'd like to be featured in a future post, please email us here. A global provider of end-to-end enterprise software support and innovation solutions and the leading third-party support provider for Oracle, SAP and VMware software. Year founded: 2005 Number of employees: Over 2,000 Revenue: $ 400M+ Weekday wake-up time: My daily wake-up time is 6:30 a.m. Morning beverage choice: I am a fan of simple black coffee in the morning to get my day going. Non-work-related morning activities: I am very fortunate to be able to get my daughter ready and take her to elementary school most mornings. My daughter is a big 'Swiftie.' Not only do we go to Taylor Swift concerts together, but every morning that I drive my daughter to school, we sing along to her songs too. It's a wonderful morning when we can listen to Taylor Swift's music together, and an even better morning when we just chat. Workday start time: I like to begin my day between 7:30 a.m. and 8 a.m. Depending on whether I have school drop-off duty. How I usually spend the first hour of my day: I start my day by reviewing all the emails that came in overnight. Most of my company's business is international, so it's my priority to review the 30 or 40 emails that came in from our partners and customers across the globe. When I send out my first email: I like to send my emails out late in the evening, versus starting off the day sending them. I prefer to have my emails in the recipient's inbox before they log in the next day. This is a global strategy for me. Best advice for writing an effective email: Brevity and summary. An email's primary function is to share data. You're better off discussing and reviewing that data in person or on a call. First dashboard I review: I first look at how we're trending on new bookings. How I structure my morning meetings: I prefer to use minimal PowerPoint slides that include sets of data. I like to have my meetings structured around a pre-set list of key discussion points and tackle those with my teammates. Of course, making sure my camera and everyone else's is on to increase engagement. Mid-morning snack of choice: I enjoy a banana mid-morning. They fill me up and keep me energized. Tell us about a recent morning that didn't go as planned and how you adjusted: If your mornings are going exactly as planned, something's not right. Having a morning go as planned is a rare blessing. Throughout my career, I've learned the importance of adaptability and the ability to adjust. To do that effectively, I need to prioritize. New priorities can emerge overnight, so being able to prioritize is essential for staying on top of the most important tasks. Favorite quote or mantra: I have an acronym — DOTI. This means, don't overthink it. I sometimes have team members who get on the phone with me and ask me, 'Is this a DOTI situation?' And most often it is. Favorite leadership lesson: Most effective leaders have humility, they can motivate and they are persistent. In my career, I've found those traits present in the most effective leaders that I have worked with. Something important to know about me that you wouldn't know from my business bio: I am a Formula 1 junkie, and I enjoy skiing with my daughter. My wife doesn't ski, so it's special for me and my daughter. It's our thing. Or, one of our things, aside from our Taylor Swift sing-along sessions. Favorite number: 1057. This is the time my daughter was born. Ten fifty-seven a.m. to be exact. Not many people know what time they were born, and this is how I remember it for her. Most noteworthy items in my workspace: My chair. I had back surgery back in the day, and a chair is the most important item for those who sit during the day. I have tried all the high-end chairs, but the most comfortable chair I found and still use is a chair from IKEA. That's another lesson I've learned over the years: just because it costs a lot doesn't mean it's great. Do you have a pet? I do not. My wife and I travel frequently for work, and we also travel a lot as a family. But it may be a possibility in the future. Favorite app on my phone that is not related to business: The F1 app, where I can watch F1 with Sam Collins. This app really lets me dive into my lifelong hobby of cars and my fascination with car racing. The year, make and model of your first car: A 1992 Mustang GT convertible. A switch-up from my current car, which is a Mercedes 4-door. It is still a sports car, but safe and comfortable for my daughter and wife. Most influential person you've ever met: That would be the first individual I worked for. His name was Ernie Olde. He's passed now, but he was a stand-up man. He gave me wonderful career advice while I was working on my undergrad. There's actually a podcast where I discussed The Billionaire's Apprentice, and it was written about my relationship with Ernie. He, very early in my career in capital markets, opened my eyes to the opportunity. I was fortunate to learn from the captains of industry in the C-suite, and this changed my direction as a professional from that point forward. Most inspirational person in your life: My father. He left Yugoslavia post-World War II to join the U.S. military and make it to the U.S. It was illegal to leave that country during that time, and he took a big risk. I am where I am because of his bravery. He had to leave his family in his late teens and truly build a new, better life for himself. Recommended Reading The 6 a.m. CFO series Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
7 days ago
- Business
- Yahoo
Chinese CFO arrested in the Philippines amid embezzlement accusations: Trial Balance
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. The Trial Balance is weekly preview of stories, stats and events to help you prepare. A Chinese national identified only as Ziwén, 37, was arrested on May 28 in Makati City for allegedly embezzling hundreds of millions of Philippine pesos from a Philippine Offshore Gaming Operator where he served as CFO. Authorities have not disclosed the company's name, consistent with common practice in the Philippines where corporate identities are often withheld during active investigations. However, a local news outlet was given exclusive access to the arrest. Ziwén, who told police he was unaware of the charges, declined to comment to local media, stating he would consult his lawyer. Reports indicate he now faces 18 counts of qualified theft tied to an estimated 181 million pesos in missing funds, equivalent to about $3.2 million. Reports suggest the total may exceed 1 billion pesos, or roughly $17.9 million, when including diverted cash and cryptocurrency assets allegedly transferred to wallets under his control. The POGO, now shut down, was part of a sector that facilitates online bets for overseas clients from inside the Philippines, often targeting Chinese gamblers barred from such activity in their home country. The case adds to growing scrutiny of the POGO industry, which is in the midst of a crackdown by authorities in both the Philippines and China. The POGO industry and its structure has long faced criticism for weak regulatory oversight, suspected money laundering and links to transnational criminal networks. Here's a list of important market events slated for the week ahead. Monday, June 2 S&P final U.S. manufacturing PMI, May ISM manufacturing, May Dallas Fed President Lorie Logan speech Tuesday, June 3 Factory orders, April Job openings, April Wednesday, June 4 ADP employment, May S&P final U.S. services PMI, May ISM services, May Fed Beige Book Thursday, June 5 Initial jobless claims, week of May 31 U.S. trade deficit, April U.S. productivity, Q1 Friday, June 6 U.S. employment report, May U.S. unemployment rate, May On June 5, will publish a Q&A with Sudhanshu Priyadarshi, CFO of Keurig Dr Pepper. He breaks down how the company is navigating areas like tariffs and new health regulations across the globe, finance's role in managing a global supply chain, why it's important for CFOs to be able to tell stories about their data and more. Recommended Reading CFO crimes, litigation, financial control failures, ethics violations and more Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
