Disney to cut 7,000 jobs and slash $5.5 billion in costs as it unveils vast restructuring
Disney unveiled a vast corporate restructuring, and CEO Bob Iger said the company isn’t considering a spinoff of ESPN.
Financial News
Fed Chair Powell says inflation is starting to ease, but interest rates still likely to rise
Fed Chairman Jerome Powell spoke Wednesday in a question-and-answer session at the Economic Club of Washington, D.C.
Google announces Bard A.I. in response to ChatGPT
Google Bard comes as the company tries to compete with the popularity of ChatGPT.
Optimism on Chinese stocks soars to five-year highs
Money is flowing into mainland Chinese and Hong Kong stocks in ways not seen since 2018, according to research firm EPFR Global.
Tech stocks just finished a five-week rally — the longest stretch since market peak in November 2021
Cost cuts have replaced growth on Wall Street’s checklist, and tech executives are being celebrated for efficiency over innovation.
Some of Wall Street’s biggest names are exposed to the Adani Enterprises plunge
Shares of India’s Adani Enterprises have plummeted over the past week after the publication of an extensive critical report from U.S. short-seller Hindenburg Research.
Apple sales drop 5% in largest quarterly revenue decline since 2016
Apple’s overall sales for the holiday quarter were about 5% lower than last year’s, the first year-over-year sales decline since 2019.
Meta shares soar almost 20% on fourth-quarter revenue beat
Facebook-parent Meta reported revenue for the fourth quarter that topped estimates and gave a forecast suggesting that sales could rise in the first quarter.
AMD beats on sales and profit but warns of a 10% revenue decline in Q1
AMD reported earnings as many of its rival chipmakers have stumbled in recent weeks, citing lower consumer demand for finished electronics.
Everyone’s watching Meta’s earnings report for a hint at how online ads are doing
Meta, Apple, Google, Amazon and Snap are slated to report earnings this week as an economic slowdown and Apple privacy changes weigh on prospects.