Press Digest: New York Times business news - February 27

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27/02/2026 06:27

Feb 27 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

- Netflix NFLX.O walks away from its $83 billion bid for Warner Bros. Discovery WBD.O, clearing the path for Paramount Skydance's PSKY.O $111 billion offer to take control of the Hollywood giant.

- Block XYZ.N will lay off 40% of its workforce, about 4,000 jobs, as Jack Dorsey says new AI tools make smaller teams more efficient, marking one of tech's biggest AI-driven job cuts yet.

- FedEx FDX.N says it will pass any court-ordered tariff refunds back to customers, as companies rush to reclaim billions collected under Trump's now-invalidated import duties.

- Revel, a startup building modern software to control hardware like rocket engines, raises $150 million at a $1 billion valuation as investors bet on next-gen industrial automation.

 (Compiled by Bengaluru newsroom)

 ((globalnewsmonitoring@thomsonreuters.com))