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Beware of online ads with elaborate backstories. They may not be from a real small business

Beware of online ads with elaborate backstories. They may not be from a real small business

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By MAE ANDERSON, AP Business Writer

Melia & Co appears to be a small family-run business. The sweaters on its website feature a photo of a woman hand-knitting a Christmas design. The caption says that after decades of creating knitwear that tells “quiet stories of care and beauty,” she is closing her little studio and the pieces on offer are her last.

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The website of Olivia Westwood Boutique also spotlights a charming backstory. The “About Us” section states that twin sisters run the shop their mother opened in 1972 and share her commitment to a a business “rooted in family, community and women uplifting women.” Shoppers could take advantage of a sale honoring the boutique’s late founder on what would have been her 95th birthday. read more

Netflix intensifies bid for Warner Bros making its $72 billion offer all cash

Netflix intensifies bid for Warner Bros making its $72 billion offer all cash

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By MICHELLE CHAPMAN and WYATTE GRANTHAM-PHILIPS, AP Business Writer

Netflix is now offering to buy Warner Bros. Discovery’s studio and streaming business in all cash — in an effort to win over the Hollywood giant’s shareholders for its $72 billion merger and potentially thwart a hostile bid from Skydance-owned Paramount.

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Back in December, Netflix struck a cash and stock deal with Warner valued at $27.75 per share, giving it a total enterprise value of $82.7 billion, including debt. But on Tuesday, the companies announced that they would be revising the transaction to simplify its structure, provide more certainty of value for Warner stockholders and speed up the path to a shareholder vote — which they said could arrive by April. read more

Bankruptcy court approves Sun Terra purchase of planned Whispering Hills site in Leesburg

Bankruptcy court approves Sun Terra purchase of planned Whispering Hills site in Leesburg

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Oviedo-based developer Sun Terra Communities is moving to purchase the proposed site of the huge, 1,088-acre Whispering Hills community in Leesburg out of bankruptcy court for $62 million.

According to documents from the U.S. Bankruptcy Court Middle District of Florida, Orlando-based Marsan Real Estate Group — which owns the property as Bellaviva at Whispering Hills LLC — filed for Chapter 11 in October. A liquidation plan was filed last week, a move to clear the way for the controversial development which has lain dormant for four years, according to a report in GrowthSpotter.

Sun Terra Principal Richard Jerman said the developer is currently in its due diligence stage of acquiring the property over the next few weeks and has not yet closed on the purchase.

Early plans for Whispering Hills indicated developer Jean Marsan planned the community as a mixed-use development on the site of the former Journey M Circle Ranch in Leesburg, just east of U.S. 27 and north of Dewey Robbins Road. The property has zoning approvals for a golf and equestrian community with nearly 3,000 residential units and up to 451,000 square feet of commercial hotel, medical and office uses. read more

Wall Street slumps and Europe stocks sink as Trump threatens tariffs on 8 NATO members

Wall Street slumps and Europe stocks sink as Trump threatens tariffs on 8 NATO members

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By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — Stocks slumped in morning trading on Wall Street Tuesday after President Donald Trump threatened to hit eight NATO members with new tariffs as tensions escalate over his attempts to assert American control over Greenland.

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The S&P 500 fell 1.2%, pulling back further from the record it set early last week. It was the first time U.S. markets could react to the escalation from Trump, as they were closed on Monday for Martin Luther King Jr. Day.

The Dow Jones Industrial Average fell 536 points, or 1.1%, as of 10:56 a.m. Eastern. The Nasdaq composite slumped 1.5%. read more

Oldest astronaut Buzz Aldrin turns 96 as new moon astronauts share Apollo inspirations

Oldest astronaut Buzz Aldrin turns 96 as new moon astronauts share Apollo inspirations

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Buzz Aldrin, the second man and only one of 12 to ever walk on the moon, turns 96 today. He’s just one of four living moonwalkers and the oldest remaining astronaut still making trips around the sun.

Edwin Eugene Aldrin Jr. followed Neil Armstrong onto the lunar surfaces as part of the Apollo 11 landing in 1969 as a 39-year-old. He was born on Monday, Jan. 20, 1930, in Glen Ridge, New Jersey, the only son and youngest of three children of Edwin Aldrin and wife Marion, whose maiden name was Moon.

According to History.com, his nickname Buzz was the shortened version of “Buzzer,” the result of a mispronunciation of “brother” by one of his older sisters. He changed that to be his legal first name in 1988.

While this past year has not been kind to Aldrin, who lost his wife last fall after a battle with cancer, he’s remained a cheerleader to NASA, which is primed to soon add to the list of humans who have traveled to the moon with the upcoming Artemis II mission.

After landing on July 20, 1969, Aldrin spent 93 minutes walking on the moon along with Armstrong, the first two of 12 men across six successful moon landing missions between 1969-1972. Armstrong died in 2012 while their command module pilot Michael Collins, who orbited the moon while they ventured to the surface, passed away in 2021. read more