Walt Disney said Tuesday its marquee streaming service, Disney+, gained more subscribers than Wall Street had expected, but investment costs dragged quarterly earnings below analysts’ targets. Shares in Disney fell 5% in after-market trading. The entertainment company is spending billions to compete with Netflix and others for streaming television customers as traditional TV declines in popularity. Disney+…
More than 200 Gannett staffers are staging a day-long strike on Friday as they demand better wages and benefits — a fresh burst of unrest following recent layoffs at the newspaper giant. The NewsGuild, which represents staffers at Gannett — which owns USA Today and a slew of local papers…
The one-time tech visionary who invented Snapchat’s disappearing-photos feature vanished from the public eye after a nasty legal battle with his co-founders — and has since been accused of running amok in a swanky gated community, The Post has learned. Reggie Brown, who co-founded Snapchat with Evan Spiegel and Bobby…
Some of Wall Street’s top CEOs spent the last week on a diplomatic mission to Saudi Arabia. It wasn’t touted as diplomacy, of course. The financiers who attended the Future Investment Initiative in Saudi Arabia, known as “Davos in the Desert,” are a well-scripted bunch who prefer to keep their…
A substantial plunge in US home prices is likely “just beginning” as decades-high mortgage rates cause a downturn in the housing market, a prominent economist cautioned Friday. The warning from Pantheon Macroeconomics chief economist Ian Shepherdson followed more dismal data that showed a slowdown in housing activity. Pending home sales…
CNN anchor Don Lemon revealed Thursday that he felt the political focus of his nixed primetime show had gotten stale prior to his move to the struggling cable network’s revamped morning show. Lemon, who is set to serve as co-host of the new “CNN This Morning” beginning Nov. 1, said…
US homebuilding fell more than expected in September, led by a 13.1% decline in multi-unit projects, according to Census Bureau data released on Wednesday. Housing starts dropped 8.1% to a seasonally adjusted annual rate of 1.439 million units last month. Data for August was revised down to a rate of 1.566 million units from the previously reported 1.575 million units. Economists polled…
Spirit Airlines shareholders voted Wednesday to accept a $3.8 billion buyout from JetBlue Airways, but the deal could still face a challenge from federal antitrust regulators. JetBlue emerged as the winner in a bidding war with Frontier to acquire Spirit, the nation’s biggest budget airline. Spirit announced the outcome after…
John Schnatter, the founder of Papa John’s Pizza who was forced to step down as CEO after uttering a racial slur during a conference call, was slammed on Tuesday for telling a cable news channel that he had “lost a home” in Florida as a result of Hurricane Ian. Schnatter,…
Stocks rose sharply on Wall Street Tuesday, clawing back more of the ground they lost in a miserable several weeks. The Dow Jones Industrial Average surged 825.43 points, or 2.8%, to 30,316.32 and the Nasdaq jumped more than 350 points, or 3.3%. The S&P 500 rose 3.1%. The benchmark index…
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