Formula 1

The market faced pressure due to regional bank concerns tied to loan quality highlighted by JPMorgan CEO’s comments. Zions and Western Alliance saw sharp declines. U.S.-China trade tensions and Bolton’s indictment added to uncertainty. Tariffs are projected to cost businesses $1.2 trillion. Apple is reportedly pursuing Formula 1 streaming rights. EssilorLuxottica credits Meta’s smart glasses for revenue growth, while Oracle benefited from a cloud deal with Meta.

Apple is reportedly finalizing a $140 million deal for Formula 1’s U.S. broadcast rights, signaling its aggressive push into live sports. Apple aims to revolutionize sports broadcasting, departing from traditional fragmented models. Eddy Cue emphasizes the need for a modernized, integrated viewing experience, criticizing the current subscription overload. Apple seeks exclusive control over sports leagues, exemplified by the F1 deal and its MLS partnership, aiming to attract younger audiences and reshape content consumption.