Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain 
Australia Trade Balance Swings to Surprise Deficit as Imports Outpace Exports in May 
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert 
Buffett Delays Gates Foundation Donation Pending Epstein Ties Review 
South Korean Stocks Tumble as AI Chip Selloff Hits Asian Markets 
TSMC CoWoS Capacity Forecast Raised as Mizuho Sees AI Server CPU Demand Surging Through 2027 
US Stock Futures Hold Steady Ahead of June Jobs Report as Fed Rate Outlook Remains in Focus 
Trump Administration Declines USMCA Renewal, Opens Talks on New Trade Changes 
South Korea Alleges Google Abused Android App Store Dominance, Eyes Major Fine 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
Gold Price Drops to Eight-Month Low as Fed Rate Hike Bets Weigh on Bullion. Source: Photo by Michael Steinberg via Pexels 
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists 
NATO Albania Summit Faces Uncertainty as Trump, Defense Spending Concerns Loom 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Nike Q4 Earnings Beat Estimates as Wholesale Growth Offsets Direct Sales Weakness 
Anthropic Brings Claude AI Models to Microsoft Azure Foundry With NVIDIA Blackwell GPUs 
ViacomCBS announces a name change as part of its rebranding plans. The American mass media company said on Tuesday, Feb. 15, that its new corporate name is "Paramount," and the change is taking effect on Feb. 16.
ViacomCBS also said that its move to change its name is also an effort to adopt "an iconic global name" to mirror its increasing focus on the worldwide stage. The new moniker was also revealed to celebrate the company's launch of its streaming service called Paramount Plus.
As per CNN Business, ViacomCBS will be legally called "Paramount Global" but will also be referred to as Paramount. The news of the rebranding was dropped on the same day when the company hosted an investor presentation that lasted for almost three hours.
The event was held to promote its streaming strategy, globally. It also shared its plans for the expansion of its streaming service and other businesses in the U.S. and overseas.
With its new label, it will trade on the NASDAQ index under the PARA ticker for class B common shares, PARAA for class A, and PARAP for class A preferred. All of these changes were jointly announced by ViacomCBS' president and chief executive officer, and chairman of the board through a memo addressed to the employees.
The executives said that an iconic international company should also have an iconic global name thus, it deserves the "Paramount" label that truly reflects the power of ViacomCBS' content.
"Paramount is an idea: A promise to be the best," ViacomCBS' non-executive chair of the board of directors, Shari Redstone, said in a press release. "That promise has always been at the center of what we aspired to build as the steward of more than a century of cinematic excellence, and with businesses and brands that have defined and redefined entertainment for generation after generation. We have made enormous progress, and I have never been more excited about the future of this company."
Meanwhile, ViacomCBS' Paramount Plus is going global with its streaming service. Reuters reported that it is set to launch four versions of the reality series "The Challenge: War of the Worlds" and air them via TV networks in the United States, the United Kingdom, Australia, and Argentina, to localized content and gain more viewers.
Lastly, the company plans to debut Paramount Plus in 45 markets in the last quarter of this year. This move is part of the scheme to catch up with rival streaming service firms.
