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By WYATTE GRANTHAM-PHILIPS, AP Business Writer

NEW YORK (AP) — Warner Bros. Discovery said that Paramount has raised the price of its takeover offer to $31 per share, in addition to other revisions.

That’s a $1 per share increase from Paramount’s previous offer, which stood at $30 per share since December — when the Skydance owned company launched its hostile bid to challenge a studio and streaming deal Warner had reached with Netflix.

Beyond upping its proposed purchase price, Warner said Tuesday afternoon that Paramount had increased its regulatory termination fee to $7 billion, in case the transaction falls through. Paramount also agreed to move up a previously-promised “ticking fee” payable to shareholders.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

NEW YORK (AP) — Warner Bros. Discovery says it’s reviewing a new takeover offer from Paramount, but it continues to recommend a competing proposal from Netflix to its shareholders in the meantime.

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By PAUL WISEMAN, AP Economics Writer

WASHINGTON (AP) — The Supreme Court’s stunning rebuke of President Donald Trump’s most sweeping tariffs means he can’t conjure up new import taxes on a whim anymore.

But the justices’ ruling on Friday is nonetheless unlikely to ease the uncertainty over Trump’s trade policy that has paralyzed businesses over the past year. “It’s only gotten more complicated for everybody,’’ said trade lawyer Ryan Majerus, partner at King & Spalding and a former U.S. trade official.

Vexing questions remain: How will the president use other laws to reconstruct the tariffs the Supreme Court knocked down, and will those attempts withstand legal challenges? What does the decision mean for the trade deals Trump strong-armed other countries into accepting, using his now-defunct tariffs as leverage? Can importers collect refunds for the tariffs they paid last year, and if so, how?

Then there’s Trump’s own unpredictability. Even though he had weeks to prepare for an unfavorable Supreme Court ruling, his response was still chaotic: On Friday, he said he’d use other legal authority to impose 10% levies on imports from other countries. Saturday, he ratcheted it up to 15%. read more

LONDON (AP) — Britain’s data privacy watchdog slapped online forum Reddit on Tuesday with a fine worth nearly $20 million for failures involving children’s personal information.

The Information Commissioner’s Office said it issued the penalty worth $19.5 million because the failures resulted in the platform using children’s data “unlawfully.”

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“Children under 13 had their personal information collected and used in ways they could not understand, consent to or control. That left them potentially exposed to content they should not have seen,” said Information Commissioner John Edwards. “This is unacceptable and has resulted in today’s fine.” read more

By DAVID KLEPPER, MATT O’BRIEN and KONSTANTIN TOROPIN, Associated Press

WASHINGTON (AP) — Defense Secretary Pete Hegseth gave Anthropic’s CEO a Friday deadline to open the company’s artificial intelligence technology for unrestricted military use or risk losing its government contract, according to a person familiar with their meeting Tuesday.

Anthropic makes the chatbot Claude and is the last of its peers to not supply its technology to a new U.S. military internal network. CEO Dario Amodei repeatedly has made clear his ethical concerns about unchecked government use of AI, including the dangers of fully autonomous armed drones and of AI-assisted mass surveillance that could track dissent.

Defense officials warned they could designate Anthropic a supply chain risk or use the Defense Production Act to essentially give the military more authority to use its products even if it doesn’t approve of how they are used, according to the person familiar with the meeting and a senior Pentagon official, who both were not authorized to comment publicly and spoke on condition of anonymity. read more

By MELISSA GOLDIN

President Donald Trump will deliver the first State of the Union address of his second term on Tuesday. Priorities for the Republican’s administration have centered largely on the economy, immigration, crime, energy and national security.

Trump has spent the last year touting his accomplishments while mocking the record of his predecessor, former President Joe Biden. But much of this bluster is based on false and misleading claims — many of which are likely to be a part of the president’s address to the nation.

Here’s a look at some of the false and misleading statements Trump has made at recent public appearances.

Economy

Trump often says the U.S. is now “the hottest country anywhere in the world” after years as a “dead country.” The U.S. economy was hardly “dead’’ when Trump returned to office last year. But in his second term, it’s generally performed strongly — after getting off to a bumpy start.

In 2024, the last year of Biden’s presidency, U.S. gross domestic product grew 2.8%, adjusted for inflation, faster than any wealthy country in the world except Spain. It also expanded at a healthy rate from 2021 through 2023. read more