Stellantis Faces Setback Amid EV Plans Rollback and DOJ's Netflix Probe
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Stellantis, the automotive giant behind Jeep and Chrysler, has seen its stock plummet by 24% as it embarks on a $26 billion reset of its electric vehicle (EV) strategy. This shift comes in response to declining consumer demand for EVs, prompting the company to scale back its ambitious plans. Meanwhile, the U.S. Justice Department is investigating potential monopolistic practices in Netflix's proposed acquisition of Warner Bros. Discovery's studios and HBO Max, raising concerns about competition in the streaming landscape. On a positive note, the biotech sector has rebounded impressively, outpacing broader market performance and achieving its strongest annual returns since the pandemic. These developments signal significant shifts in the automotive and entertainment industries that could directly affect American families.
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Key Entities
- • Stellantis - Automotive manufacturer known for its popular brands including Jeep and Chrysler
- • Netflix - Leading streaming service currently under investigation by the DOJ
- • Warner Bros. Discovery - Media conglomerate involved in Netflix's proposed acquisition
- • Justice Department - U.S. government agency examining potential anti-competitive practices
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