BUSINESS

Pixar Animation Studios, the vanguard of animated storytelling, has recently undergone a significant restructuring, resulting in the layoff of 175 employees, which constitutes 14% of its workforce.  This move is part of a larger initiative by Disney CEO Bob Iger to refocus on quality over quantity, steering Pixar back to its roots in feature film production and away from short-form series for Disney+.

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OpenAI, the AI research lab behind the conversational model ChatGPT, has recently announced a deal with Reddit, the popular social media platform known for its vibrant communities and discussions. This partnership is set to provide OpenAI with real-time access to Reddit's posts, which will be used to train and enhance its AI models. In exchange, Reddit will gain access to OpenAI's technology to develop new AI features for its platform.

In a bold move that intertwines the rich tapestry of Ukrainian folklore with contemporary storytelling, FILM.UA Group has announced the development of a live-action film based on the character Mavka, already celebrated in the animated feature “Mavka. The Forest Song.” The animated version, which has been showcased in 148 countries and grossed over $21 million globally, is just the beginning of a multiplatform, cross-media intellectual property.

Photo Credit:Jeffrey Neal Johnson

In a bold move that underscores its commitment to growth and shareholder value, Sony Group has announced a series of strategic initiatives that are set to reshape the company’s financial landscape. The Tokyo-based tech giant has pledged to boost
shareholder returns through a significant share buyback and a progressive dividend policy, alongside a promising outlook for higher annual profits driven by its thriving image sensors business.

Phillips recently concluded its Modern and Contemporary Art Evening Sale in New York, showcasing a diverse array of artworks and yielding notable results amidst a dynamic art market landscape. Here's an overview of the highlights, trends, and significant sales from the auction.