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☆ 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

☆ What activist investor Nelson Peltz can bring to the board of underperforming Disney
▼ + stars: | 2024-01-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Trian officially nominated Peltz and former Disney CFO Jay Rasulo as directors for consideration at the company's upcoming annual meeting. Trian oversees about $3 billion worth of Disney stock. The board oversight is awful," the activist investor told Jim, who agrees. In March 2018, Peltz joined the board of Procter & Gamble — a relationship that led to market share gains and improved financial performance. Peltz has been pushing Disney board representation since the beginning of 2023 .

Persons: Trian, Nelson Peltz, Peltz, Jay Rasulo, Disney, Morgan Stanley, James Gorman, Ike Perlmutter's, Bob Iger, Jim, we've, Procter & Gamble, there's, Iger, Bob Chapek, Jim Cramer's, Jim Cramer, David A Organizations: Trian Partners, Disney, Marvel Entertainment, missteps, CNBC, ESPN, DIS, Procter &, Netflix, Alpha, Grogan Locations: New York

"I'm very, very lucky because I wouldn't have had the courage to go and do that acquisition, but I give all the credit in the world to Dave Clark," Petersen said. "There's a perfect complement of skill sets," Petersen told Forbes in June 2022. Petersen told Clark he should engage with Shopify's team, according to a person with direct knowledge of the negotiations. Clark, Petersen and Wagers met in Texas in mid-August to fine-tune the forecasts. Flexport told CNBC that an employee's politics are not relevant in personnel decisions.

Persons: Dave Clark, Ryan Petersen, he'd, Petersen, Clark, excoriated Clark, we've, Clark wasn't, Jeff Bezos, It's, Flexport, Clark overspent, Flexport's, He'd, Sanne Manders, Dave, Shopify, Tobias Lutke, Lutke, Shopify's, glanced, didn't, Fund's Trae Stephens, Michael Ronen, SoftBank, Andreessen Horowitz, Bob Swan, Samyukta Lakshmi, Kenny, Stuart Leung, pare, Leung, —, Lindsey Wasson, Clark's, Stephens, Peter Thiel, Trump's, Petersen's, Sen, Joe Manchin, Chris Ferro, Ferro, Parisa Sadrzadeh, couldn't, Amazon, Sadrzadeh, Burak Yolga, Yolga, Nelly Organizations: North, Amazon, Twitter, CNBC, UPS, FedEx, Milken Institute Global Conference, Bloomberg, Getty, Forbes, Deliverr, Shopify's, Anduril Industries, Intel, Intel Corp, U.S ., Clark, Republican, Founders Fund, Democratic, Street Journal, Flexport Locations: Phoenix, Silicon, Clark, Beverly Hills , California, U.S, Flexport, Deliverr, Miami, Flexport's Bellevue , Washington, Bengaluru, India, Flexport's, Asia, U.S . West Coast, Texas, Ohio, Arizona, Thiel's, West Virginia, Seattle, integrations

☆ OPEC excludes some WSJ, Reuters and Bloomberg reporters from meeting
▼ + stars: | 2023-06-01 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

OPEC reporters from three large news organizations have not been invited to the oil producing alliance's meetings this weekend, sources told CNBC. The OPEC Secretariat, which oversees media accreditation, on Tuesday issued invitations to some journalists to cover the June 3-4 meetings on-site. Two Wall Street Journal reporters who do not regularly cover OPEC received invitations. Spokespeople for the OPEC Secretariat and Wall Street Journal did not immediately respond to a request for comment. OPEC+ ministerial meetings often see news agencies such as Reuters, Bloomberg and the Wall Street Journal compete to break the results of the meetings before they have been concluded.

Persons: —, Russia —, Prince Abdulaziz bin Salman, Alexander Novak Organizations: CNBC, OPEC Secretariat, Reuters, Bloomberg, Wall Street, Street, CNBC —, Financial Times, OPEC, Wall Locations: OPEC, Russia, China, Saudi Arabia, Saudi

☆ Gen Z isn't afraid of unemployment — and they don't trust their employers, Suzy Welch says. Her late husband, Jack Welch, slashed 112,000 jobs at General Electric.
▼ + stars: | 2023-05-22 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

The NYU Stern professor Suzy Welch told CNBC that "funemployment" showed a shift in how Gen Z work. Suzy Welch told CNBC that Gen Z, those born from the mid-1990s to early 2010s, wasn't afraid of unemployment like previous generations. Welch told CNBC that while Gen Z wasn't promoting joblessness by choice, their perspective on the issue had shifted "far away" from previous generations. They think: 'We're going to be together for as long as we're together, then I'm going to be funemployed, and then I'm going to move on to my next engagement.'" However, Gen Z has indicated they're more concerned about work-life balance and less willing to put up with toxic work culture.

☆ Gen Z isn't afraid of unemployment — and they don't trust their employers, Suzy Welch says. Her late husband Jack Welch slashed 112,000 jobs at GE.
▼ + stars: | 2023-05-22 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

NYU Stern professor Suzy Welch told CNBC that "funemployment" shows a shift in how Gen Z views work. Welch said in an interview with CNBC that Gen Z — those born from mid-1990s to early 2010s — isn't afraid of unemployment like previous generations. Welch told CNBC that while Gen Z isn't promoting joblessness by choice, their perspective on the issue has shifted "far away" from that of previous generations. They think: 'We're going to be together for as long as we're together, then I'm going to be funemployed, and then I'm going to move on to my next engagement.'" However, Gen Z has indicated they're more concerned about work-life balance and less willing to put up with a toxic work culture.

☆ Elon Musk says he's a 'pro-Semite, if anything' when questioned about his public attacks on George Soros
▼ + stars: | 2023-05-17 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +4 min

His comments came after he compared George Soros to the "X-Men" villain Magneto on Monday. Elon Musk tried to defend his statements on the Jewish billionaire George Soros a day after likening Soros to a comic-book villain. On Monday, Musk tweeted that Soros reminds him of the "X-Men" villain, Magneto, while claiming that Soros "hates humanity." Musk then doubled down on his criticism of Soros, saying he thinks it's true that Soros does hate mankind, but offered no further substantiation for the claim. —nikki mccann ramírez (@NikkiMcR) May 16, 2023Musk's tweet on Monday saying "Soros reminds me of Magneto," has been viewed 39 million times as of press time.

☆ Removing shoes, reclining seats? What's deemed ‘unacceptable’ on flights may depend on where you’re from
▼ + stars: | 2023-04-12 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +3 min

Conversely, only 32% of respondents in the UAE considered seat-reclining unacceptable, lower than the global survey average of 53%. Only 19% deemed crying babies to be "unacceptable" and less than one-third were troubled by noisy kids over the age of four. However, there was one issue that bothered UAE respondents more than European travelers. Only 21% labeled crying babies as unacceptable, less than the 25% of men in the survey. What's 'unacceptable' to American flyersAmericans are more likely than the global average to view acts like personal grooming and shoe removal on flights as unacceptable.

☆ Azeri BTC crude loadings suspended at a major oil export hub in Turkey after earthquakes
▼ + stars: | 2023-02-08 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Crude oil loadings from Turkey's Baku-Tbilisi-Ceyhan terminal in the Mediterranean have been suspended following a twin set of earthquakes that devastated Turkey and Syria on Monday, leaving over 9,000 dead. The BTC terminal loads Azeri BTC Blend crude, which is transported to the Ceyhan port through the BTC pipeline. A force majeure notice seen by CNBC — which removes contractual liability from exporters or producers for circumstances outside of their control — was issued on Tuesday evening. The BTC pipeline was not impacted by the earthquakes, the Botas International Company that operates its Turkish section said on Monday. The BTC crude oil loadings schedule that is typically published on the 8th of every month will be delayed, two trade sources said.

☆ Worker demands for more money on the job hit a record level, a New York Fed survey finds
▼ + stars: | 2022-12-20 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

The level surpassed the $73,283 record reached earlier this year in March, which it had more recently dipped below. The continued strength in the labor market will will put pressure on companies to keep using price as a lever to make back some of the margin lost to labor costs. This approach to offering more pay doesn't tie them into salary increases which can't be easily reversed, and also does not factor into the wage inflation trend for long. But for now Powell is stuck with a labor market that isn't relenting to Fed policy as quickly as hoped. "We do see a very, very strong labor market, one where we haven't seen much softening, where job growth is very high, where wages are very high.

☆ The CIO of the world's largest wealth manager shares 9 places to put your money in the near-term as a sustained rally in stocks looks 'unlikely' and uncertainty remains high
▼ + stars: | 2022-10-15 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Mark Haefele said this week that he doesn't see a sustained rally in stocks. Stocks went on a face-ripping rally on Thursday, with the S&P 500 rising more than 4.2% after market open. In stocks, Haefele said these include defensive — or recession-proof — areas of the market like the consumer staples and healthcare sectors. He also said he likes UK value stocks, and value stocks around the world, with inflation and rates still elevated. Finally in stocks, Haefele is still bullish on the energy sector because of OPEC's recently-announced production cuts and what they should do to keep crude prices higher.

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