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☆ The rule capping credit card late fees at $8 is on hold — here’s what it means for you
▼ + stars: | 2024-05-10 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

The U.S. banking industry won a key victory in its effort to block the implementation of a Consumer Financial Protection Bureau rule that would've drastically limited the fees that credit card companies can charge for late payment. The CFPB estimates that the rule would've saved American families $10 billion a year in fees paid by those who fall behind on their bills. It would've capped late fees that are typically $32 per incident to $8 each and limited the industry's ability to hike the fees. "Consumers will shoulder $800 million in late fees every month that the rule is delayed — money that pads the profit margins of the largest credit card issuers," a CFPB spokesman told CNBC on Friday. The CBA said it will continue to press its case in the courts on why the CFPB rule should be "thrown out entirely."

Persons: Rohit Chopra, Mark Pittman, would've Organizations: Consumer Financial Protection Bureau, Banking, Housing, Urban Affairs Committee, Washington , D.C, Financial, Bureau, Northern, Northern District of Texas, U.S . Chamber of Commerce, U.S, CNBC, Consumer Bankers Association, District, CBA Locations: Washington ,, U.S, Northern District

☆ Americans are shopping less but they’re still spending on flights, hotels and Disneyland
▼ + stars: | 2024-05-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Consumers may be fed up with high prices at the store, but they’re still willing to splurge on travel. Other key players in the travel industry have reported a similar trend this earnings season. Americans, especially lower-income consumers, have pulled back spending at retailers as goods inflation outpaces wage growth. They’ve even become frugal with some experience-based spending like dining out, opting instead to eat at home. “We saw a healthy but more normalized market environment for travel globally,” CEO Peter Kern told analysts on May 2.

Persons: they’re, ”, Hugh Johnston, it’s, Ed Bastian, Kathleen Oberg, “, Peter Kern, ” FTX, FTX, Sam Bankman, Fried, Olesya Dmitracova, Read, Tesla, Anna Cooban, André, Elon Musk’s Organizations: CNN Business, Bell, New York CNN, Delta Air, ” United Airlines, Marriott International, Marriott, Disney, Expedia Group, Alameda Research, CNN, RTL Locations: New York, Hong Kong, California, Florida, Alameda, Berlin, Germany, Europe

☆ CFPB rule to save Americans $10 billion a year in late fees faces possible last-minute freeze
▼ + stars: | 2024-05-09 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

A Consumer Financial Protection Bureau regulation that promised to save Americans billions of dollars in late fees on credit cards faces a last-ditch effort to stave off its implementation. Led by the U.S. Chamber of Commerce, the card industry in March sued the CFPB in federal court to prevent the new rule from taking effect. That could hold up the regulation, which would slash what most banks can charge in late fees to $8 per incident, just days before it was to take effect on Tuesday. The credit card regulation is part of President Joe Biden's broader election-year war against what he deems junk fees. Big card issuers have steadily raised the cost of late fees since 2010, profiting off users with low credit scores who rack up $138 in fees annually per card on average, according to CFPB Director Rohit Chopra.

Persons: Tobin Marcus, Joe Biden's, Rohit Chopra Organizations: Financial, Bureau, U.S . Chamber of Commerce, D.C, Northern District of, Wolfe Research Locations: Texas, Washington, Northern District, Northern District of Texas

☆ Apple apologizes for its controversial iPad Pro ad
▼ + stars: | 2024-05-09 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —Apple has apologized and admitted it “missed the mark” with its latest iPad Pro advertisement. The ad, posted on social media Tuesday by Apple CEO Tim Cook, was met with backlash from internet users who felt that the ad celebrated technology’s destruction of human creativity and art. As the metal slabs of the hydraulic press lift, Apple’s new iPad Pro is revealed. “Meet the new iPad Pro: the thinnest product we’ve ever created, the most advanced display we’ve ever produced, with the incredible power of the M4 chip. Actor Hugh Grant wrote on social media that Apple’s ad represented “the destruction of the human experience.”Apple no longer plans to run the ad on TV, according to AdAge.

Persons: Apple, “, Tim Cook, Tor Myhren, ” Myhren, ” Apple, ” Cook, ”, Hugh Grant Organizations: CNN, Apple

☆ Jim Cramer says guidance really matters as Wall Street senses a slowdown
▼ + stars: | 2024-05-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Wednesday said a company's guidance can make or break its stock in this tricky market environment. As Wall Street senses a slowdown, guidance can have more impact on a stock than it should, according to Cramer. Cramer said that investors could potentially buy some of these stocks if the Federal Reserve were to start cutting interest rates. But to him, it's important to keep in mind how much soft guidance can affect stocks right now. "You need to understand that in this market, even though the guidance is just the guidance, right now the guidance is all that matters."

Persons: CNBC's Jim Cramer, aren't, Cramer, Walt Disney, Datadog, Uber, Hugh Johnston Organizations: Disney, Federal Reserve

☆ Opinion: What ‘Unfrosted’ reveals about my growing unease about Jerry Seinfeld
▼ + stars: | 2024-05-08 | by ( Gene | ) edition.cnn.com time to read: +6 min

I love “Seinfeld.” As for the actual comedian Jerry Seinfeld, however it’s…complicated. In most of his activities outside his eponymous classic sitcom (1989-1998), Seinfeld bemuses more than amuses me. This ambivalence only obliquely affects my opinion of “Unfrosted,” Seinfeld’s recently-released feature-length Netflix comedy. Still, I’ve always had the disquieting sense of Seinfeld somehow always Getting Away With Something when he pulls off this suave, impeccably creased act. Seinfeld isn’t about unsettling his viewers and I’m in no way suggesting he should be.

Persons: Gene Seymour, —, Seinfeld, Jerry, George, Elaine, Kramer, Gene Seymour Jeremy Freeman, “, Jerry Seinfeld, he’s, I’d, ” Seinfeld’s, Barbie ”, ”, Seinfeld’s, Tony, Tiger, Hugh Grant, Thurl Ravenscroft, Andy Daly, Variety’s Owen Gleiberman, Unfrosted ”, Kyle Dunnigan’s Walter Cronkite, Bill Burr’s, Grant, Melissa McCarthy, James Marsden, Amy Schumer, Christian Slater, Jon Hamm, John Slattery, Larry David, David, don’t, that’s, I’ve, John Mulaney, snags, ” Seinfeld, he’d Organizations: The New York Times, Newsday, Entertainment, The Washington, CNN, Quaker Oats, Bill Burr’s JFK, Seinfeld, Netflix, Twitter Locations: Israel

☆ Internal document shows Google using uncertainty over a TikTok ban to try to win more ad dollars for YouTube
▼ + stars: | 2024-05-08 | by ( Hugh Langley | ) www.businessinsider.com time to read: +4 min

YouTube, TikTok, and Meta are fighting for ad spendA TikTok ban could have huge upside for YouTube. While YouTube is eating up more ad dollars, the platform is still behind Meta in terms of total video ad spend in the US, based on projected data from eMarketer. AdvertisementMeanwhile, TikTok has been gaining ground, with eMarketer predicting TikTok will have almost caught up to YouTube in terms of video ad dollars by 2025 in the US (assuming TikTok isn't banned). And like YouTube, the Chinese-owned app is also trying to take ad dollars away from TV networks and video streamers. It's still not clear how many ad dollars are moving to YouTube Shorts, but Google Chief Business Officer Phillip Schindler talked up the service on the company's latest investor call.

Persons: —, Joe Biden, YouTube's, Sundar Pichai, Zuckerberg, TikTok, isn't, eMarketer, Meta's, It's, Phillip Schindler Organizations: Service, Google, YouTube, Business, Apple, BI, Pew Research Locations: USA

☆ Disney CFO Hugh Johnston on Q2 results, strength of consumer and streaming growth
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney CFO Hugh Johnston on Q2 results, strength of consumer and streaming growthDisney CFO Hugh Johnston joins 'Squawk Box' to discuss the company's quarterly earnings results, state of the consumer, sports business, streaming growth, and more.

Persons: Hugh Johnston

☆ Disney shares tumble on light guidance. But here's why we're raising our price target
▼ + stars: | 2024-05-07 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Disney Why we own it: We value Disney for its best-in-class experiential entertainment Parks business, which has proven to have immense pricing power. In the second quarter, the combined business — Disney+, India's Disney+ Hotstar, Hulu and ESPN+ — saw losses of $18 million, far better than the $659 million loss in the year-ago period. DTC profitability benefited from Disney+ core subscriber growth, higher retail subscription prices, increased advertising revenue on the back of higher impressions, and lower distribution costs. Clearly, Disney still has a big opportunity in sports as they execute on their DTC streaming strategy for ESPN. The atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022.

Persons: —, Nelson Peltz, wouldn't, Hugh Johnston, Jim Cramer's, Jim Cramer, Jim, Presley Ann Organizations: Club, Revenue, LSEG, Disney, Parks, ESPN, Comcast, Netflix, Warner Bros Discovery, Paramount Global, CNBC, seasonality, Entertainment, Hulu, Hulu Live, Sports ESPN, College Football, National Football League, Walt Disney World, Disney Cruise, Disneyland, Hong Kong, Getty Locations: Hulu, India, Florida, California, Hong, Los Angeles

☆ Britain’s ‘ugliest dog’ will feature in ‘Deadpool & Wolverine,’ says Ryan Reynolds
▼ + stars: | 2024-05-07 | by ( Dan Heching | ) edition.cnn.com time to read: +1 min

CNN —While Marvel fans are excited for the super-heroic teamup between Ryan Reynolds and Hugh Jackman in this summer’s “Deadpool & Wolverine,” there is another character – of the four-legged variety – set to make her debut in the movie as well. “Her real name is Peggy, and she won the award for Britain’s Ugliest Dog,” Reynolds told Empire Magazine in an article published on Tuesday. “It was one of those things where you just keep listening to the movie, and Dogpool became a staple.”According to BBC, Peggy won the unique title of Britain’s ugliest dog in January of 2023. Equipped with her very own “Dogpool” Instagram page, Peggy also appeared in a still from the new movie on Reynolds’ own Instagram in December of last year. “It’s love at first sight,” he told Empire of the bond between his character Deadpool and the pup.

Persons: Ryan Reynolds, Hugh Jackman, Reynolds, “, Peggy, ” Reynolds, Wade Wilson, ”, Dogpool “, Deadpool, Wolverine ”, Dogpool, – Organizations: CNN, Marvel, Empire Magazine, BBC Locations: Leven, Hornsea, East Yorkshire

☆ In a Surprise, Disney+ Becomes Profitable
▼ + stars: | 2024-05-07 | by ( Brooks Barnes | ) www.nytimes.com time to read: +1 min

When Disney reported robust earnings in February, the activist investors then circling the company essentially called it a stunt — a temporary, heat-of-battle effort to fend them off and not, as Robert A. Iger maintained, proof that a struggling Disney had finally “turned the corner.”The Disney chief’s argument just got a lot stronger. Disney blew past Wall Street’s expectations for a second consecutive quarter on Tuesday, in part because its flagship streaming service made money — a first. Disney+ had been expected to lose more than $100 million in the most recent quarter, widening losses since its 2019 arrival to roughly $12 billion. The company had previously predicted that Disney+ would become profitable in September; some investors and analysts have been skeptical about that, putting downward pressure on Disney shares. Disney’s per-share earnings for the most recent quarter rose 30 percent increase from a year ago.

Persons: Robert A, Iger, “, —, ” Hugh Johnston Organizations: Disney

☆ What earnings beat? Disney's streaming slowdown is all anyone on Wall Street cares about
▼ + stars: | 2024-05-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

But that wasn't enough for Wall Street, with the stock diving as much as 11% following the earnings report, its worst daily decline in 18 months. Related storiesWhile Disney+ added 6.3 million new subscribers in the quarter, its total number of streaming subscribers, 153.6 million, was below Wall Street estimates by about 2 million. AdvertisementThe sharp move lower highlights the high standard Wall Street has set for Disney's streaming portfolio, which includes Disney+, Hulu, ESPN, and India's Hotstar. So far, that doesn't appear to be happening, at least not at a quick enough pace for Wall Street. And while Disney's streaming business is moving in the right direction overall, it will likely still be a bumpy ride ahead for the unit to deliver consistent profits.

Persons: —, India's, Hugh Johnston, Geetha Ranganathan, Kevin Organizations: Service, Business, Disney, ESPN, Netflix, Wall, Wall Street, Bloomberg Intelligence Locations: Hulu, India

☆ Citigroup CEO Jane Fraser says low-income consumers have turned far more cautious with spending
▼ + stars: | 2024-05-06 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Citigroup CEO Jane Fraser said Monday that consumer behavior has diverged as inflation for goods and services makes life harder for many Americans. Fraser, who leads one of the largest U.S. credit card issuers, said she is seeing a "K-shaped consumer." "We're seeing a much more cautious low-income consumer," Fraser said. That means Americans must live with higher rates for credit card debt, auto loans and mortgages for longer. "It's hard to get a soft landing," the CEO added, using a term for when higher rates reduce inflation without triggering an economic recession.

Persons: Jane Fraser, Fraser, CNBC's Sara Eisen Organizations: Citigroup, Federal Reserve

☆ Man Behind California Forever, Silicon Valley's City of the Future
▼ + stars: | 2024-05-05 | by ( Hugh Langley | Adam Rogers | ) www.businessinsider.com time to read: +29 min

He sees California Forever. And if he can't undo the damage, there may never be a California Forever. California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. But here's the thing: California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. Places like California Forever aren't being opposed by the people who are desperate for a place to live.

Persons: Jan Sramek's, Goldman Sachs, Sramek, Reid Hoffman, Laurene Powell Jobs, Marc Andreessen —, They've, Christie Hemm, Peter Thiel, Jan Sramek, Jan, Thiel, Goldman, CheatSheet, Sramek's, hadn't, Jonas Rave, who's, —, Guy Saidenberg, Evernote, Marc Andreessen, Jane Jacobs, He's, he'd, Robert Moses, growth.y Christie Hemm, Flannery, Bronson Johnson, David George, Andreessen Horowitz, Marilyn Farley, Farley, Solano County's, Kathleen Threlfall, Bill Mortimore, California Forever's, Jessica Christian, he's, Lyle Lanley, Solano, Sam Houston, weren't, Gabriel Metcalf, You've, John Garamendi, Garamendi, isn't, they'll, latte, Christie, Travis, I've, aren't, They're Organizations: Silicon, California, BI Development, University of Cambridge, London School of Economics, Party, Rising Star, Facebook, York, Sramek's, BI Sramek, Google, American, Planners, Sacramento -, Travis Air Force Base, Area, titans, Farmers, councilwoman, California Forever, Sacramento Municipal Utility District, Air Force, Flannery Associates, Disney, San Francisco, Vallejo Naval, Historical Museum, Rep, BI, Solano, Sierra, Goldman Locations: San Francisco, It's, Sramek, California, Rio Vista, Solano County, Napa, Sacramento, Silicon Valley, America, London, Zurich, England, Czech Republic, Dřevohostice, York, British, Eastern Europe, Cambridge, Bay Area, Hayes Valley, America's cutest, Atlanta, Phoenix, Copenhagen, Barcelona, New York, Sacramento - San Joaquin, San Francisco Bay, Lake Tahoe, Toledo , Ohio, Silicon, Google's, Toronto, Big Tech, China, Calif, Springfield, Vallejo, He's, Atherton, Foreverville, Fairfield, Austin, Solano, Valley, Europe

☆ The global synthetic drugs crisis has hit West Africa, where people are digging up human bones to make a drug called 'kush'
▼ + stars: | 2024-05-05 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +8 min

Cemeteries are bolstering their security measures because gravediggers are stealing human bones to make powerful synthetic drugs, local journalists told Business Insider. AdvertisementA vendor sells daily necessities at a market in Freetown, Sierra Leone, Feb. 21, 2024. Formaldehyde also has euphoric properties, says the National Library of Medicine, which explains why kush users could be raiding Freetown's cemeteries. JOHN WESSELS | Getty ImagesJalloh noted that the use of synthetic drugs was not unique to Sierra Leone. ReutersIn 2015, BI's Erin Brodwin covered the rise of these synthetic drugs, marketed as "spice," "K2," "black mamba," or "crazy clown."

Persons: —, Sierra, Julius Maada, Michael Cole, Sally Hayden, JOHN WESSELS, Cole, Mabinty Magdalene Kamar, Abdul Jalloh, HUGH KINSELLA CUNNINGHAM, Thomas Dixon, Jalloh, Salifu Kamara, kush, BI's Erin Brodwin, Brodwin, tranq Organizations: Service, Business, Xinhua News Agency, Getty, Anglia Ruskin University, The Irish Times, National Library of Medicine, Politico, Sierra, Sierra Leone Psychiatric Teaching Hospital, Police, Getty Images Local, Salone Times, BBC, Freetown Police Force, National Drug Agency, NPR, Guardian, Disease Control, Prevention, Reuters, Financial Times Locations: Freetown, African, Sierra Leone, West Africa, Mabinty, Waterloo , Sierra Leone, kush, New York City, New York, Kensington, North Philadelphia

☆ Opinion: What people don’t understand about being bisexual
▼ + stars: | 2024-05-04 | by ( Opinion Natalie Schriefer | ) edition.cnn.com time to read: +6 min

CNN —In her 2024 Netflix special “Have It All,” stand-up comedian Taylor Tomlinson has a bit about coming out as bisexual. It can sour otherwise happy events, such as Pride Month in June or Bi Visibility Day in September. I attended my first Pride events, ranging from campus events in 2014 to local parades in 2019, as the straight person I was pretending to be. I continued second-guessing myself, so much so that I could hardly enjoy Pride events. It’s the piece I was missing at my early Pride events, when I was too busy quantifying my behavior and assuming I came up short.

Persons: Natalie Schriefer, CNN —, Taylor Tomlinson, someone’s, ’ ”, Tomlinson, ” Natalie Schriefer, Natalie Schriefer It’s, Hugh Jackman, she’s, —, Privately, unworthiness, Margot Robbie Organizations: CNN, Netflix, Rights, Bisexual Resource, Connecticut Gay, American, of, Twitter, Facebook Locations: Pride, bi.org, U.S

☆ Dating a celebrity is the ultimate fantasy. A PR expert and a therapist explain if it can actually work.
▼ + stars: | 2024-05-04 | by ( Olivia Singh | ) www.businessinsider.com time to read: +11 min

But being in a relationship with a celebrity isn't all it's hyped up to be in the movies. "It's not the people in the relationship," Anderson said. AdvertisementThis persistent surveillance can be exhausting and strain a relationship, Anderson said. To work, these relationships need time out of the spotlightEven though the odds might seem stacked against a celebrity and civilian couple, these relationships aren't necessarily doomed. AdvertisementIn a public setting, Anderson said that the normal person has to accept that they'll be sidelined by their famous partner.

Persons: —, Anna Scott, William Thacker, I'm, Julia Roberts, Hugh Grant, Tad Hamilton, Solène, Anne Hathaway, Hayes Campbell, Nicholas Galitzine, Robinne, Harry Styles, Matt Damon, Luciana Barroso, Taylor Lautner's, Tay, Edward, Jon Stewart, Tracey McShane, they're, Alisha Wetherill, Clay Cockrell, who's, — Cockrell, we've, Liza Anderson, Anderson, Taylor Swift, Travis Kelce, Jennifer Lopez, Ben Affleck, Cockrell, Danny Moder, Patrick Dempsey, Jillian Fink, Keanu Reeves, Alexandra Grant, He's, Reeves, he's, It's, they'll Organizations: Service, Disney, Business, Coachella, Anderson Group Public Relations Locations: Notting, Miami, Hollywood, LA, New York

☆ Berkshire Hathaway’s big mystery stock wager could be revealed soon
▼ + stars: | 2024-05-03 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Berkshire Hathaway , led by legendary investor Warren Buffett, has been making a confidential wager on the financial industry since the third quarter of last year. The identity of the stock — or stocks — that Berkshire has been snapping up could be revealed Saturday at the company's annual shareholder meeting in Omaha, Nebraska. So the 93-year-old Berkshire CEO may decide to explain his rationale to the thousands of investors flocking to the gathering. The bet, shrouded in mystery, has captivated Berkshire investors since it first appeared in disclosures late last year. Under Buffett, Berkshire has trounced the S&P 500 over nearly six decades with a 19.8% compounded annual gain, compared with the 10.2% yearly rise of the index.

Persons: Berkshire Hathaway, Warren Buffett, Buffett, —, Bill Stone Organizations: Glenview Trust Co, Buffett Locations: Berkshire, Omaha , Nebraska, U.S, Glenview

Big tech companies have pulled back on PERM applications, often the first step to a green card. AdvertisementBig tech companies have backed off green card applications in a big way because the process has become tougher and there's less competition for talent. "If some of these people say 'yes, I'm interested,' then you're out of luck with the green card application." So this makes the green card process potentially easier outside of places like the Bay Area and NYC, she explained. Are you a foreign tech worker struggling with a green card application?

Persons: Ava Benach, —, Googlers, Benach, It's, Hugh Langley, Kali Hays, Eugene Kim Organizations: Big, Google, Service, Department of Labor, Washington DC, Amazon, Business, Meta, Companies, Citizenship, Immigration Services, Supply, Bay, Labor, Area, Big Tech, US, Department, Labor Department, Software Engineer, Research Locations: PERM, Silicon Valley, New York City, Washington, khays@businessinsider.com

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the Fed expects more bank failuresOf about 4,000 U.S. banks analyzed by the Klaros Group, 282 banks face stress from commercial real estate exposure and higher interest rates. The majority of those banks are categorized as small banks with less than $10 billion in assets. "Most of these banks aren't insolvent or even close to insolvent. They're just stressed," Brian Graham, Klaros co-founder and partner at Klaros. "That means there'll be fewer bank failures.

Persons: They're, Brian Graham, Klaros Organizations: Fed, Klaros

☆ Google says immigration rules are making it hard to hire top AI talent
▼ + stars: | 2024-05-01 | by ( Hugh Langley | ) www.businessinsider.com time to read: +4 min

Google wants the US to change immigration rules to help it hire AI talent. The company said its need for AI roles will "increase significantly" in the coming years. AdvertisementAs the AI wars heat up, Google says immigration rules must change if the US is to attract the talent needed to stay ahead. AdvertisementConsequently, companies have cut back on offering to put employees on US green card tracks. Amazon recently suspended new green card sponsorships until the end of 2024.

Persons: — Organizations: Google, US Department of Labor, Service, Department, Software Engineer, Research, Department of Labor, Companies, Amazon Locations: PERM

☆ NYCB shares jump after new CEO gives two-year plan for 'clear path to profitability'
▼ + stars: | 2024-05-01 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

The first-quarter loss, equal to 45 cents per share, compared to net income of $2.0 billion, or $2.87 per share a year earlier. When adjusted for charges included merger-related items, the loss was $182 million, or 25 cents per share, deeper than the 15 cents per share loss estimate from LSEG. "Since taking on the CEO role, my focus has been on transforming New York Community Bank into a high-performing, well-diversified regional bank," CEO Joseph Otting said in the release. "While this year will be a transitional year for the company, we have a clear path to profitability over the following two years." The bank will have higher profitability and capital levels by the end of 2026, Otting said.

Persons: Joseph Otting, Otting, Steven Mnuchin, NYCB Organizations: York Community Bank, New York Community Bank Locations: New

☆ Disney just named 2 new top execs to advise on strategy and M&A as it considers its future: Read the memo
▼ + stars: | 2024-05-01 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Disney has appointed two senior executives to oversee corporate strategy as it considers the future of its linear business and contends with streaming losses. Veteran Disney exec Justin Warbrooke, meanwhile, was named EVP and head of corporate development, overseeing M&A as well as divestitures, among other areas. Mayer was Disney's EVP of corporate strategy and business development before going on to run strategy and the DTC and international businesses. As such, we are evolving the Corporate Strategy function to better align with this vision, which includes two leadership roles — one focused on Corporate Strategy and another focused on Corporate Development — both reporting directly to me. In addition to strategy, Andre has advised clients on the topics of operations, organization, customer journey design, and M&A.

Persons: Disney, Nelson Peltz, It's, Bob Iger, Bain, Andre James, Justin Warbrooke, James, Marvel, Hugh Johnston, Kevin Mayer, Mayer, Iger, Tom Staggs, —, Andre, Justin, Hugh Organizations: ESPN, Business, Veteran Disney, Coopers, Lybrand's, DTC, Century Fox, Disney, Media, Walt Disney Company, Corporate, Strategy, Development, of Media, Entertainment, Bain & Company, Consumer, Marvel, Reliance, Fox, Warner Bros . Discovery, Finance Locations: Hulu, India

☆ How ‘The Idea of You’ nailed age-gap dressing
▼ + stars: | 2024-04-30 | by ( Leah Dolan | ) edition.cnn.com time to read: +8 min

Films such as “What Price Hollywood” and “A Star is Born” first dabbled in the idea of famous and non-famous relations almost 100 years ago. Now, director Michael Showalter breathes new life into the trope with “The Idea of You,” out on Amazon Prime May 2. But more than just a piece of starry-eyed fan-fiction, “The Idea of You” is a Bildungsroman in disguise. It was the first look Hathaway tried on during fittings with Demetrio in New York. As for Hathaway, we find her in Chanel and leave her, happily ever after, in a rust-red Gabriela Hearst suit.

Persons: It’s, ”, Richard Curtis, Julia Roberts, Hugh Grant, lister, Michael Showalter, Robinne Lee, Anne Hathaway, Solène Marchand, Nicholas Galitzine, Hayes Campbell, Moon, Demetrio, Alisha Wetherill, Hayes, Solène, Harry Styles, Olivia Wilde, Lee, Styles, “, Jacqueline Demetrio, …, “ She’s, Hathaway, Isabel Marant cardigan, suede Isabel Marant, ’, Etro, Gabriella Hearst, Valentino, Demetrio —, Hathaway —, heartthrob, David Bowie, ” Demetrio, he’s Harry, “ Nick, Matty Healy, Loewe, Isabel Marant, it’s, Nick, Constance Bennett, Lowell Sherman, ” Grant, Roberts, Gabriela Hearst Organizations: CNN, Hollywood, Disney Channel, BBC, Amazon, Vogue, SXSW Locations: LA, Isabel, New York, streetwear, Coachella, cardigan, It’s, “

☆ Google's 'fastest-growing' moonshot that spun out into an AI earbuds startup aims to ship its first product this year
▼ + stars: | 2024-04-26 | by ( Hugh Langley | ) www.businessinsider.com time to read: +7 min

Read previewA team inside X, Google's moonshot factory, was working on a revolutionary hearing device, Business Insider reported in 2021. A few months later, Wolverine's lead, Jason Rugolo, spun the project out of Alphabet and formed a startup named Iyo. Rugolo says the company plans to ship its first product by the end of this year. Rugolo told BI he hired Kraft for a stint at Google X to work on what would become Iyo. Iyo isn't the first X project to fly from Alphabet's nest, and it probably won't be the last.

Persons: —, Google's, Jason Rugolo, Rugolo, Iyo, Lockheed Martin, Sergey Brin, Noah Kraft, Kraft, we're, X Organizations: Service, Business, Lockheed, Horizons Ventures, US, ARPA, Research Projects Agency, Energy, Google, Doppler Labs, Spotify, TED, Wolverine, BI

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