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☆ 10 Israeli soldiers hospitalized for wasp stings after their tank ran over a swarm's nest in Gaza
▼ + stars: | 2024-05-11 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

A swarm of wasps in the southern Gaza Strip injured twelve IDF soldiers. Sheba Medical Center in Tel Aviv treated the wounded soldiers, with one requiring intensive care. AdvertisementTwelve IDF soldiers were injured after being attacked by a swarm of wasps in the southern Gaza Strip, the Times of Israel reports. Sheba Medical Center in Tel Hashomer admitted 10 of the wounded soldiers for treatment, with one requiring intensive care, said the report. In the wasp incident, the swarm was provoked by a tank rolling over its nest.

Persons: —, Efrat Katz Organizations: Gaza, Gaza Division's Southern Brigade, Sheba Medical, Service, Gaza Division's, Brigade, Sheba Medical Center, IDF, US Marine, Business Locations: Gaza, Tel Aviv, Israel, Tel Hashomer, Kentucky, Nirim, Hamas

☆ Russian advances could give it a shot at Ukraine's eastern 'fortress belt,' war analysts warn
▼ + stars: | 2024-04-29 | by ( Chris Panella | ) www.businessinsider.com time to read: +3 min

Read previewRussian troops appear to be making tactical advances just northwest of Avdiivka toward a so-called "fortress belt" of Ukrainian cities, war analysts report. Though it remains to be seen whether Russian command will turn its focus its troops on that area, they're setting the stage for offensive operations in that direction. With Russian forces continuing to solidify their positions northwest of Avdiivka, a war-torn town they captured in February, they now have choices on which objectives to pursue. "The Russian military command could decide that advances north along the H-20 highway would allow Russian forces to conduct subsequent complementary offensive operations from the east and south against the southern edge of the Ukrainian fortress belt in Donetsk Oblast," ISW wrote. The potential for advances in this sector comes ahead of an expected Russian offensive this summer, when Moscow's troops could have the opportunity to make significant gains in the Chasiv Yar area and beyond.

Persons: —, Chasiv Yar, ISW Organizations: Service, Business, Russian, The Institute, Washington DC Locations: Avdiivka, Ukraine, Russia, Bakhmut, Washington, Chasiv Yar, Donetsk Oblast, Duzhkivka, Ukrainian

☆ Andy Sieg is quickly shaking up Citi's wealth business. At least 11 senior execs have left since his arrival.
▼ + stars: | 2024-04-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Citi's wealth unit has seen at least 11 senior execs exit since Merrill Lynch veteran Sieg joined in September. The latest departure is David Bailin, chief investment officer for the global wealth division, who announced his departure on Monday. Sieg's mandate is to turn around the wealth business, which was barely profitable this past quarter. Sieg also plans to expand Citi's already successful wealth business in Asia. At least two other senior Asia executives have left.

Persons: Andy Sieg, Merrill Lynch, Sieg, David Bailin, Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merril Lynch, Don Plaus, Hale Behzadi, Citi David, Eduardo Martinez Campos, Keith Lee Hong, Fernando Lopez Munoz, Luigi Pigorni, Jeff Sutton, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Citi, Business, Bankers, Citi Wealth, Citi Global Wealth, North America, Eduardo Martinez Campos Head, Mark, Mark Mills Regional, Fernando Lopez Munoz Head, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Keith Lee Hong Kong, Mark Mills, Shyam Sambamurthy South Asia, America, West China, hcuccinello@businessinsider.com

☆ A woman who suffered a brain injury after a fall lost out on $750,000 compensation after a judge branded her 'dishonest'
▼ + stars: | 2024-04-14 | by ( Cameron Manley | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA woman who suffered a brain injury after falling from a seaside pier lost out on $750,000 in compensation after she was found to be "thoroughly dishonest" in her claim, said a judge. In the US, an estimated $308.6 billion annually is lost to insurance fraudulent insurance claims, according to Forbes. Healthcare insurance fraud (including Medicaid and Medicare insurance fraud) is the most common type, estimated at $105 billion annually. But Ritchie said that "overall" he found Williams-Henry to have been "dishonest and manipulative," so he could dismiss the case.

Persons: —, Kirsty Williams, Henry, Williams, division's, Ritchie, Christel Williams, Ms Williams Organizations: Service, Aberavon Pier, Business, British Ports Holdings, Forbes . Healthcare Locations: Cardiff

☆ Citi's plan to turn its wealth business around: get 'low performing' bankers to meet expectations and push investment products
▼ + stars: | 2024-04-12 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAndy Sieg has been quick to make his mark on Citi's ailing wealth unit since taking over the business in September. Some of his efforts are paying off, such as pushing investment products for existing clients to reduce reliance on loans and deposits. AdvertisementIn late September, Citi promoted its North American investment head, Kris Bitterly, to a new role overseeing investments globally. Adding investment assets has become a bigger part of private banker bonuses, according to The Wall Street Journal.

Persons: —, Andy Sieg, Mark Mason, Mason, Jane Fraser, Fraser, Kris, Sieg, Hale Behzadi, Merrill Lynch, Don Plaus Organizations: Service, Revenue, Business, Citi, London, North, Wall Street

☆ Disney's parks are its top money maker — and it plans to spend $60 billion to keep it that way
▼ + stars: | 2024-04-07 | by ( Sarah Whitten | ) www.cnbc.com time to read: +12 min

It had been more than a year since the Covid pandemic had forced Disney's domestic parks to shutter, but D'Amaro, chair of Disney's experiences division, was confident guests would flood back in when the gates reopened. Revenues fell 35% in 2020, a nearly $10 billion decrease from the $26.2 billion the experiences division had tallied in the year before the pandemic. The experiences division posted record revenue of $32.5 billion in fiscal 2023, a 16% increase from the prior year. Its innovations, from ride mechanics and animatronics to creature design and immersive architecture, have made Disney's parks a standout in the industry. Storytelling is at the heart of everything across Disney's experiences division.

Persons: Mickey Mouse, Ian Langsdon, Josh D'Amaro, D'Amaro, Bob Chapek, D'Amaro —, Walt Disney, King Arthur Carousel, Christian Thompson, you've, it's, Bob Iger, Nelson, Walt Disney Imagineering, Rey, Kylo Ren, Judy Hopps, Imagineers, CNBC —, Lewis, Disney, Imagineering, Matt Stroshane, Alan Bergman Organizations: Paris, Afp, Getty, Gibson, Disney, Walt Disney Imagineering, Hong Kong Disneyland, Walt Disney, Guardians, Magic Kingdom, Epcot, Star Wars, California Disneyland's, Walt Disney Imagineering's, Disney Engineers, Force, Southwest, CNBC, Galactic, Marvel Locations: California, Burbank, Disneyland, Hong Kong, Shanghai Disneyland, Florida, Epcot, Magic, Wharf, Disneyland's, Disney's, Edge

☆ Disney beat back activist investor Nelson Peltz. Now the real work begins
▼ + stars: | 2024-04-04 | by ( Alex Sherman | ) www.cnbc.com time to read: +8 min

That would mark a milestone for the company, which launched Disney+ on Nov. 12, 2019. It would be the first time Disney showed it can make money from Disney+, Hulu and ESPN+. Disney will need to sustain and grow streaming profit to justify Iger's five-year-old strategy to go "all in" on the segment. Disney has already offered ESPN+, a sports streaming service that has some but not all of ESPN's content. Trian Partners' Nelson Peltz, who failed to join Disney's board Wednesday after securing just 31% of the vote, publicly questioned what he has called Disney's "woke" content strategy.

Persons: Bob Iger, Sun Valley , Idaho David A, Iger, Disney, they've, Cowen, Doug Creutz, Needham, Laura Martin, Gabby Jones, David Greenbaum, Sean Bailey, Alan Bergman, Indiana Jones, Nelson Peltz, Peltz, shouldn't, Bob Chapek, He'll, Bergman, Jimmy Pitaro, Josh D'Amaro, Dana Walden, They've, Cowen's, you've, That's, it's, — CNBC's Sarah Whitten, Needman's Martin Organizations: Disney, Allen & Company Sun Valley Conference, Grogan, CNBC Disney, Disney Disney, Hulu, ESPN, Co, Warner Bros . Discovery, Fox, CNBC, Athletic, Bloomberg, Getty, Marvel, Star Wars, Searchlight, Walt Disney Motion, Disney Entertainment, Century Fox, Sony, Disney's Marvel Studios, Trian Partners, Financial Times, Resorts, Iger Locations: Sun Valley , Idaho, Brooklyn , New York, Iger, Parks, Disney

☆ Tax pros brace for ‘tidal wave’ of crypto tax scrutiny from the IRS. What investors need to know
▼ + stars: | 2024-03-04 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

As the IRS bolsters its cryptocurrency expertise, tax professionals are bracing for increased scrutiny of digital currency. The IRS announced it hired two former crypto executives to beef up its digital currency service, reporting, compliance and enforcement programs. "Everybody's been waiting for the tidal wave of this enforcement activity," said James Creech, an attorney and senior manager at accounting firm Baker Tilly. More from Personal Finance:IRS targets wealthy 'non-filers' with new wave of compliance letters4 red flags for an IRS tax audit — and how to avoid the 'audit lottery'IRS aims to close 'inequity gap' for unpaid taxes. These actions will trigger a "significant amount" of crypto enforcement, said Hylton, who is a former IRS commissioner for the agency's small business and self-employed division.

Persons: Everybody's, James Creech, Baker Tilly, Eric Hylton, John Doe, Hylton Organizations: IRS, Finance, Alliantgroup

☆ US Army attack helicopters are making 150-mile deep strike runs in the Arctic, where pilots grapple with frozen equipment and whiteout landings
▼ + stars: | 2024-03-02 | by ( Chris Panella | ) www.businessinsider.com time to read: +7 min

Helicopter pilots also have to be able to land in confined spaces, such as a small openings located in dense forests. AH-64D Apache Longbow attack helicopters fly over a mountain range near Fort Wainwright, Alaska, on June 3, 2019. Army via APTowards the end of the recent JPMRC rotation in Alaska, Eifler told reporters about a 150-mile deep strike conducted with attack helicopters. The opportunities, particularly for helicopter pilots, are limitless, Burke told BI. As soldiers told Business Insider during the training in Alaska, if you can master warfighting in the Arctic, you can wage war anywhere.

Persons: —, Thomas E, Burke, Charles Flynn, Brian S, Eifler, Alejandro Peña, Natalie Doan, Cameron Roxberry Organizations: Service, Army, 11th Airborne Division, Business, Pacific Multinational Readiness, Airborne, Readiness, Alaska Army National Guard UH, 1st Battalion, 207th Aviation Regiment, Base Elmendorf, . Air Force, Blackhawks, Aircraft, Paratroopers, U.S . Army 2nd Infantry Brigade Combat Team, 36th Airlift Squadron, Yokota Air Base, Helicopter, U.S . Army, AP, Apache Locations: Alaska, Brig, Gen, Wainwright , Alaska, China, Russia, North Korea, Richardson , Alaska, Wainwright, Japan, Fort Wainwright , Alaska

☆ PlayStation is laying off 900 people globally — read the full email employees received about it
▼ + stars: | 2024-02-28 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

AdvertisementSony Interactive Entertainment is laying off about 900 people from the PlayStation division. PlayStation Studios' London studio will close, Ryan wrote. Ryan will retire at the end of March, as he wrote in a press release shared in September. In January, Microsoft announced it's laying off 1,900 staff members across Activision Blizzard, Xbox, and ZeniMax. All employees who are part of the collective consultation will be made aware of the next steps today.

Persons: Jim Ryan, Ryan, Jim Organizations: Sony Interactive Entertainment, PlayStation, Asia Pacific, PlayStation Studios, Microsoft, Activision Blizzard, Unity, Business, Sony Locations: Americas, Europe, Japan, Asia, EMEA

☆ Morgan Stanley wealth head Jed Finn just laid out his vision to win over more dollars from clients. Here's what you need to know.
▼ + stars: | 2024-02-23 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

Read previewMorgan Stanley's wealth business is the envy of Wall Street, with $5.1 trillion in assets. The wealth management division has buoyed Morgan Stanley's stock during the market slowdown, but its growth has slowed. Finn added that wealth management clients would soon have access to more customized and tax-efficient portfolios through Parametric, a direct indexing provider it acquired via Eaton Vance in 2021. AdvertisementThis is part of Finn's broader strategy to get customers across the bank to use as many Morgan Stanley products as possible. "The challenge with our model, historically, is we had a great wealth management firm if you wanted to work with a financial adviser," he said.

Persons: —, Morgan, Jed Finn, Finn, Andy Saperstein, James Gorman, Ted Pick, Morgan Stanley's, Vince, Chad Turner, OpenAI, it's, It's, Eaton Vance, Morgan Stanley Organizations: Service, Bank of America, Business, McKinsey, AIMS

☆ Layoffs could be coming to Morgan Stanley's wealth management business at a critical time
▼ + stars: | 2024-02-15 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

Layoffs could be coming to Morgan Stanley's crucial wealth management business — a prudent step to improving the bank's overall cost structure amid uncertainty over Federal Reserve interest rate moves. During his tenure at the helm, Gorman pivoted Morgan Stanley to rely less on investment banking by building up wealth management, which has a more predictable revenue stream. MS YTD mountain Morgan Stanley (MS) year-to-date performance Possible layoffs in wealth management are important because it's Morgan Stanley's largest operating segment — making up roughly half of companywide revenue. "Morgan Stanley's paying you to wait with that 4% yield, and they're right in there buying with you thanks to their aggressive buyback." Ted Pick, CEO Morgan Stanley, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024.

Persons: Morgan Stanley's, Morgan Stanley, Ted Pick, CNBC's, James Gorman, Jan, Gorman, it's Morgan, Pick, Jim Cramer, Jim Cramer's, Jim, Adam Galici Organizations: Wall Street, Silicon Valley Bank, Currency, CNBC Locations: Silicon, management's, U.S, Wells Fargo, Davos, Switzerland

☆ 'I will bleed Goldman Sachs forever': Wall Street banker Jim Esposito tells GS partners why now is the time to step down — and reflects on brushes with everyone from 'Buffett to Beckham'
▼ + stars: | 2024-01-29 | by ( Reed Alexander | Dakin Campbell | ) www.businessinsider.com time to read: +2 min

Goldman Sachs on Monday said that Jim Esposito, one of the bank's three co-heads of global banking and markets and a potential CEO contender, would be stepping down . He said he's developed a sense of restlessness and suggested he's leaving because he's eager for a change of pace. Goldman Sachs is one of the most powerful investment bank on Wall Street and its leaders often go on to do great things, including heading up firms or taking on leading roles in government. "As the pace of innovation accelerates at a mind blowing speed, there's a strong pull to explore new adventures," Esposito wrote, concluding later: "Keep winning as our results will always define us. I will bleed Goldman Sachs forever."

Persons: Goldman Sachs, Jim Esposito, he's, I've, Esposito, Buffett, Beckham, Berkshire Hathaway, Warren Buffett, David Beckham, Goldman's Organizations: Business

SAVANNAH, Ga. (AP) — The company seeking permits to mine minerals near the edge of the Okefenokee Swamp and its vast wildlife refuge has agreed to pay a $20,000 fine to Georgia environmental regulators, who say the company violated state laws while collecting soil samples for its permit application. The plan is required for Twin Pines to qualify for a permit. Twin Pines has insisted it can mine without harming the swamp. An attorney for Twin Pines said Wednesday the company denies any wrongdoing. The Army Corps entered an agreement with Twin Pines to maintain its hands-off position in 2022.

Persons: “, Lewis Jones, Josh Marks, EPD, ” Marks, Donald Trump, Joe Biden Organizations: Georgia Environmental, Twin, Twin Pines Minerals, Twin Pines, Regulators, Refuge, ”, National Park Service, UNESCO, U.S . Fish, Wildlife Service, and Wildlife Service, Army Corps of Engineers, Army Corps Locations: SAVANNAH, Ga, Georgia, Twin Pines, Alabama, Twin, Mississippi, Atlanta, blackwater

☆ An upgrade, a 'top pick' and a potential deal: 3 of our stocks make news Tuesday
▼ + stars: | 2024-01-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

We're taking a closer look at a few of our stocks in the headlines on Tuesday: Starbucks, Constellation Brands and Walt Disney. The firm said it is looking beyond the current quarter, noting that Starbucks is "underearning vs its potential." Constellation Brands News: Bernstein named Constellation Brands its top pick for 2024 in a Tuesday research note. That's why a potential partnership that would give equity ownership of ESPN to a professional sports league would be so interesting. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Walt Disney, Morgan Stanley, Bernstein, Jim, Bob Iger, Wells Fargo, Nelson Peltz, Jim Cramer's, Jim Cramer, Spencer Platt Organizations: Starbucks, Constellation Brands, Walt, Modelo, Disney, ESPN, National Football League, New York, NFL Media, NFL Network, Players Association, NFL, Netflix, CNBC, People, Starbucks Workers United, Getty Locations: Israel, China, Corona, Pacifico, New, New York City

☆ Warner Bros. Discovery's games chief shares plans to capitalize on 'Hogwarts Legacy' and boost the division's growth
▼ + stars: | 2024-01-16 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Discovery's gaming division is on a winning streak with two of the biggest console games in 2023: "Hogwarts Legacy," the year's No. In an interview with Business Insider, Haddad, who is president of Warner Bros. Interactive Entertainment — a position he's held since 2015 — framed the challenge and how he plans to keep WBD games' streak going. It can take the form of new events to keep people playing a strategy game like "Game of Thrones: Conquest" or new characters and tournaments in a fighting game like "Mortal Kombat." WBD's success with games separates it from other legacy media companies that have stumbled in the arena, most notably Disney. Nevertheless, analysts have speculated that given its past success and need for growth, WBD could buy another gaming company such as EA or Take-Two Interactive.

Persons: —, execs, David Haddad, Haddad, We're, Harry Potter, it's, They've, Michael Pachter, Shaggy, David Zaslav, people's, Jefferies, Andrew Uerkwitz, LightShed, Haddad wouldn't, we've Organizations: Service, Warner, Business, Discovery, Warner Bros, Interactive Entertainment, Wedbush Securities, Disney, Netflix, Thrones, EA, Embracer Locations: WarnerMedia

☆ A ‘digital handshake’ for the planet: How one asset management firm adopted a new framework for ESG
▼ + stars: | 2023-12-19 | by ( Hakyung Kim | ) www.cnbc.com time to read: +8 min

Now, San Francisco-based asset manager Newday Impact Investing believes that using what it calls an Ecological Benefits Framework (EBF), or "a shared market architecture," could provide a new way forward in social investing. "One of the challenges has been that there are a whole bunch of different [ESG] frameworks. But they're all super complicated oftentimes even from organization [to] organization, as impact interpretations are very, very different," said Doug Heske, CEO of Newday Impact. By 2027, the goal is to have 70% of McKesson suppliers (measured by spending), have their own SBTi-approved GHG emissions reduction targets. By 2027, the goal is to have 70% of McKesson suppliers (measured by spending), have their own SBTi-approved GHG emissions reduction targets.

Persons: EBF, Douglas Gayeton, Doug Heske, there's, McKesson, Newday, paperless invoicing, Heske Organizations: Newday, . Healthcare, Equity, McKesson Foundation, Parkland Health, RedBird Health, Energy, Environmental Locations: San Francisco

☆ China's Alibaba shakes up cloud unit management after scrapping the division's IPO
▼ + stars: | 2023-11-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Alibaba will put a bigger emphasis on three business units within the cloud space — public cloud, hybrid cloud and cloud infrastructure. Weiguang Liu will lead the public cloud division, a person familiar with the matter who was not authorized to speak publicly on it told CNBC, while Jin Li will lead the hybrid cloud unit. Daniel Zhang stepped down from the CEO role in September, then quit as the head of the cloud business weeks later. "The cloud intelligence group will resolutely implement a strategy of driving growth with AI and of prioritizing public cloud. "In the future, incremental demand for cloud computing will be driven by demand for AI, and most AI computing will run in the cloud."

Persons: Alibaba, Weiguang Liu, Jin Li, Eddie Wu, Jiangwei Jiang, Jingren Zhou, Daniel Zhang, Wu Organizations: CNBC Locations: China

Miniatures of windmill and electric pole are seen in front of Siemens Gamesa logo in this illustration taken January 17, 2023. One Frankfurt-based trader said the investor event, where Siemens Gamesa disclosed around 400 million euros in cost cuts by 2026, was bringing "no new insights". At 1610 GMT, shares in Siemens Energy, in which Siemens AG (SIEGn.DE) owns a direct 25.1% stake, were still down 6.3%. Siemens Gamesa will likely cut onshore turbine capacity outside Europe and outsource the production of some components, the division's Chief Executive Jochen Eickholt said, outlining the group's restructuring roadmap. Reuters last month reported that Siemens Gamesa was considering shutting plants and sales offices as well as outsourcing some production.

Persons: Dado Ruvic, Siemens Gamesa, Christian Bruch, Jochen Eickholt, Eickholt, Christoph Steitz, Tom Kaeckenhoff, Danilo Masoni, Madeline Chambers, Miranda Murray, David Evans Organizations: Siemens, REUTERS, Siemens Energy, Siemens Gamesa, Siemens AG, Reuters, Thomson Locations: Europe, FRANKFURT, DUESSELDORF, Frankfurt

☆ An appeals court lifted Trump's gag order, clearing the way for him to insult the judge's staff again
▼ + stars: | 2023-11-16 | by ( Laura Italiano | Jacob Shamsian | ) www.businessinsider.com time to read: +5 min

An appellate judge in New York temporarily lifted Trump's limited gag order in his NY fraud trial. The gag had barred Trump and his lawyers from spoken or written attacks on the judge's law staff. AdvertisementOn November 3, Engoron extended the gag order to include Trump's lawyers after Trump's lawyers made what the judge called "on the record, repeated, inappropriate remarks" about the same clerk. Trump and his lawyers are now free to make written and spoken criticisms of the judge's staff members pending the full appellate decision. Trump's lawyers must respond by November 27, after which a full panel of the New York Appellate Division's First Department will decide if the gag stays or goes permanently.

Persons: Trump, —, Donald Trump, Arthur Engoron, Alina Habba, overreach, Habba, Chuck Schumer, Engoron, Christopher Kise, David Friedman, Friedman, Lisa Evans Organizations: Service, Trump, New, Appellate, Department Locations: New York

☆ Judge lifts Trump gag order in $250 million New York business fraud case
▼ + stars: | 2023-11-16 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

A New York judge on Thursday temporarily suspended a gag order barring former President Donald Trump from commenting on court staff in his $250 million civil business fraud trial. She seeks $250 million in damages and wants to permanently bar Trump Sr., Donald Trump Jr. and Eric Trump from running a New York business. Trump has already violated the narrow gag order twice, catching a total of $15,000 in fines. That gag order barred Trump from making statements targeting the prosecutors, likely witnesses and court staff in the case. A federal appeals court temporarily paused the D.C. gag order earlier this month.

Persons: Donald Trump, Judge Arthur F, David Friedman, Letitia James, James, Arthur Engoron, Trump, Christopher Kise, Kise, Donald Trump Jr, Eric Trump, Engoron Organizations: U.S, Trump Organization, Court, New, Appellate, Department, Trump, CNBC, Washington , D.C Locations: New York, Manhattan, New York City, U.S, York, New, Washington ,

☆ Unity shares slide as the company posts a revenue miss and skips guidance
▼ + stars: | 2023-11-09 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Unity Software shares fell as much as 15% in extended trading on Thursday after the video-game engine maker reported a third-quarter revenue miss and refrained from issuing guidance. "Our results in the third quarter were mixed," Unity said in a letter to shareholders. Whitehurst sold Red Hat to IBM for $34 billion in 2019. He said he sees some parallels between Red Hat and Unity, including market leadership and revenue growth. Notwithstanding Thursday's move, Unity shares are down about 12% this year, while the S&P 500 index has gained 13%.

Persons: John Riccitiello, Jim Whitehurst, Whitehurst, Luis Felipe Visoso Organizations: Unity Software, StreetAccount, Unity, Red Hat, Management, Hat, IBM, Whitehurst Locations: China

☆ ESPN shows strength as Disney's other networks report lower revenue
▼ + stars: | 2023-11-08 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

That compares to Disney+ and Hulu, Disney's other streaming services, which lost $420 million in the quarter. "It's on a great trajectory," Iger said about ESPN, in an interview with CNBC's Julia Boorstin on Wednesday. While linear network advertising fell, ESPN advertising had a "modest increase" in the quarter, Disney said in its earnings statement. Disney has also had discussions with other technology companies "that can add either marketing support, technology support or possibly content support," Iger said in a CNBC interview Wednesday. 1 brand on TikTok with about 44 million followers, which is an incredible statistic," Iger said during Disney's earnings conference call.

Persons: foundering, Bob Iger, Iger, CNBC's Julia Boorstin, That's, Disney Organizations: ESPN, Disney, Revenue, ESPN isn't, National Football League, National Basketball Association, National Hockey League, Major League Baseball —, CNBC Locations: Hulu

NII at the French retail division fell by 27% in the quarter, excluding two regulated savings accounts, "well below expectations," JP Morgan said in a note to clients. The French lender said it now saw NII of its French retail, private banking and insurance division falling by more than 20% in 2023. The French retail division's earnings also suffered from hedging contracts against the risks of low interest rates. SocGen's shares had edged up 0.6% by 0924 GMT. The bank has also finalised the merger of its two French retail networks.

Persons: Gonzalo Fuentes, JP Morgan, SocGen, Slawomir Krupa, Jefferies, Krupa, ALD, Mathieu Rosemain, Silvia Aloisi, Ingrid Melander, Emelia Organizations: Societe Generale, La Defense, REUTERS, European Central Bank, BNP, Deutsche Bank, Barclays, Thomson Locations: La, Paris, France

☆ SocGen Q3 earnings beat estimates as investment bank offsets French slump
▼ + stars: | 2023-11-03 | by ( ) www.cnbc.com time to read: +3 min

Societe Generale , France's third-biggest listed bank, posted better-than-expected quarterly earnings onFriday, as a resilient performance from its investment bank offset the steep downturn seen at its French retail division. SocGen's third-quarter reported group net income came in at 295 million euros ($313.2 million), above the 168 million-euro average of 13 analyst estimates compiled by the company. The bank has also finalised the merger of its two French retail networks. NII at the French retail division fell by 27% in the quarter, excluding two regulated savings accounts. In this context, the 0.4% drop in sales seen at SocGen's investment bank, compares well with some of its European peers.

Persons: Slawomir Krupa Organizations: Generale, BNP, Deutsche Bank, Barclays

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