LOS ANGELES (AP) — The Walt Disney Co. will cut about 7,000 jobs as part of an ambitious companywide cost-savings plan and "strategic reorganization" announced Wednesday by CEO Bob Iger. The job cuts amount to about 3% of the entertainment giant's global workforce and were unveiled after ...
NEW YORK (AP) — Stocks fell on Wall Street Wednesday, giving back some of their recent gains as uncertainty about interest rates and inflation continues to reign. Investors also reviewed another set of mixed earnings reports from big companies. The latest round of financial results and forecasts could help give Wall Street a clearer picture of how inflation is shaping consumer spending and business plans. The S&P 500 fell 46.14 points, or 1.1%, to 4,117.86 and is now on track for weekly losses after a few days of choppy trading. The Dow Jones Industrial Average fell 207.68 points, ...
NEW YORK (AP) — A bevy of booze brands will be in the Super Bowl ad lineup this year, now that Anheuser-Busch has ended its exclusive advertising sponsorship after more than 30 years. In addition to celebrities hawking Budweiser and Michelob Ultra, viewers will see some famous folks touting the qualities of Heineken and Coors, and even suggesting they drink cognac or whiskey — responsibly, of course. Anheuser-Busch, parent of the Bud, Ultra and Busch beer brands, said in June it would end the exclusivity deal it first struck in 1989. The company is still a big presence at NFL ...
TALLAHASSEE, Fla. (AP) — Gov. Ron DeSantis would take control over the board of a special governing district Walt Disney World operates in Florida under a bill introduced Monday, as the Republican governor punishes the company over its opposition to the so-called “Don’t Say Gay” law. ...
Facebook parent company Meta posted lower fourth-quarter profit and revenue on Wednesday, hurt by a downturn in the online advertising market and competition from rivals such as TikTok. But the company’s stock soared in extended trading, as its revenue beat Wall Street’s muted expectations and the Menlo Park, California-based company announced a $40 billion stock buyback. Meta Platforms Inc. said it earned $4.65 billion, or $1.76 per share, in the final three months of 2022. That’s down 55% from $10.29 billion, or $3.67 per share, a year earlier. Analysts were expecting ...
YOKOHAMA, Japan (AP) — A Japanese whaling operator, after struggling for years to promote its products amid protests from conservationists, has found a new way to cultivate clientele and bolster sales: whale meat vending machines. The Kujira (Whale) Store, an unmanned outlet that recently ...
