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☆ Ethiopian Airlines to manufacture parts in venture with Boeing
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +1 min

An Ethiopia’s Airlines Boeing 737 Max 8 plane to take off on a demonstration trip to resume flights from the Bole International Airport in Addis Ababa, Ethiopia February 1, 2022. REUTERS/Tiksa Negeri Acquire Licensing RightsNAIROBI, Aug 18 (Reuters) - Ethiopian Airlines will start manufacturing aircraft parts in a venture with Boeing (BA.N) at an initial cost of $15 million, the government's investment agency said on Friday. The state-owned carrier, which is the biggest in Africa, has already signed the deal that also involves the local state Industrial Parks Development Corporation, the Ethiopian Investment Commission said on X, formerly known as Twitter. The venture will make "aerospace parts, including aircraft thermo-acoustic insulation blankets, electrical wire harnesses, and other parts," the commission said. It was not immediately clear if Ethiopian Airlines has also suffered from similar lack of parts.

Persons: George Obulutsa, Duncan Miriri, Angus MacSwan Organizations: Ethiopia’s Airlines Boeing, Max, REUTERS, Tiksa, Acquire, Rights, Ethiopian Airlines, Boeing, Industrial Parks Development Corporation, Ethiopian Investment Commission, Twitter, Kenya Airways, Thomson Locations: Bole, Addis Ababa, Ethiopia, Rights NAIROBI, Africa, Ukraine

Xinhua/Shutterstock‘Absolutely safe’As heavy rains moved toward the region in late July, China’s top flood control officials met to hash out their response plan. The flood was caused by flood water discharge, not by heavy rainfall.”CNN has reached out to the Zhuozhou and Bazhou governments for comment. Rescuers use rubber boats to transfer Zhuozhou residents trapped by flood waters after days of downpours brought by Typhoon Doksuri on August 2. In the recent rains, at least three upstream reservoirs released flood waters into rivers flowing into Baiyingdian from the west and the south, according to state media. Many countries have systems that involve discharging pent up flood waters into otherwise dry land after major storms.

Persons: Xi Jinping, Xi’s, ”, It’s, Xiong’an, Jade Gao, Ni Yuefeng, downpours, Typhoon Doksuri, Zhai Jujia, Li Guoying, Hongzhang Xu, Xiao, Li Na, Zhu Xudong, it’s, Xiong’an –, Xu, Baiyangdian Lake, Kevin Frayer, “, Meili Feng, Simon Song, Deng Xiaoping, Jiang Zemin, Xu Kuangdi, Yi Haifei, Andrew Stokols Organizations: CNN, Xinhua, Getty, Censors, China News Service, China’s, Water, Australian National University, Authorities, China’s Ministry of Water Resources, Hebei Provincial Department of Water Resources, Geographical Sciences, University of Nottingham, Shanghai’s Pudong New, Chinese Academy of Sciences, Urban Computing Center Locations: Beijing, China, Hebei, Xiong’an’s, Xiong'an, Zhuozhou, AFP, Bazhou, Xiong’an, Tianjin, ”, Xinhua, Baiyingdian, Baiyangdian, Mississippi, University of Nottingham Ningbo, “, Hebei province, Shenzhen, Shanghai’s Pudong, Shanghai

☆ Analysis: Country Garden undone by promise to bring 5-star life to China's hinterland
▼ + stars: | 2023-08-16 | by ( Clare Jim | ) www.reuters.com time to read: +4 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Smaller Chinese cities, whose revenues have already been deteriorating, could have a glut of unfinished homes, a social problem Beijing is trying to avoid. But as China's economy started slowing during and after its COVID-19 lockdowns, property sales in those areas has plummeted along with values of the homes themselves. Country Garden's sales in 2020 were 570.7 billion yuan ($78.22 billion), but that slipped to 357.5 billion yuan in 2022. Country Garden has nearly 1 million homes to complete, according to estimates from Japanese investment bank Nomura.

Persons: Aly, HONG KONG, Oscar Choi, Yang Huiyan, Lu Ting, Nomura, Gerwin Bell, Clare Jim, Liangping Gao, Matt Tracy, Davide Barbuscia, Christian Schmollinger Organizations: Shanghai Country Garden, REUTERS, Country, HK, National Bureau, Statistics, Partners Capital, China Evergrande, Oxford Economics, Nomura, Thomson Locations: Shanghai, China, HONG, Beijing, Dezhou, Hong Kong, Asia, Washington, New York

☆ New York City Bans TikTok on Government-Owned Devices
▼ + stars: | 2023-08-16 | by ( Sapna Maheshwari | More About Sapna Maheshwari | ) www.nytimes.com time to read: +1 min

New York City on Wednesday joined a wave of states and federal agencies in banning TikTok from government-owned devices based on security concerns, snuffing out some popular city-run TikTok accounts in the process. Jonah Allon, a spokesman for Mayor Eric Adams, said in a statement that the city’s Cyber Command determined that the app “posed a security threat to the city’s technical networks.” City agencies must remove the app within 30 days and employees will lose access to TikTok and its website from city-owned devices and networks. The TikTok accounts of Mr. Adams, the city’s Department of Sanitation and the Department of Parks and Recreation all updated their bios with this message: “This account was operated by NYC until August 2023. It’s no longer monitored.”Numerous government officials have been restricting access to TikTok in reaction to concerns that the app, which is owned by the Chinese company ByteDance, could give Beijing access to sensitive user data. New York State has banned TikTok on state-issued mobile devices for more than three years, with some exceptions.

Persons: Jonah Allon, Eric Adams, Adams, It’s Organizations: Wednesday, Command, city’s Department of Sanitation, Department of Parks, Recreation, New York State Locations: York City, City, Beijing

☆ You Can Take Your Dog to a National Park, but You’ll Both Need to Be Very, Very Good
▼ + stars: | 2023-08-15 | by ( Lauren Sloss | ) www.nytimes.com time to read: +1 min

Yes, dogs are allowed in most national parksFirst things first: Dogs are, by and large, allowed in national parks. In all parks, dogs must be on leashes no longer than six feet, and picking up and disposing of pet excrement is a must. In Yosemite and Yellowstone National Parks, dogs are largely restricted to developed car campgrounds and paved roads, while others, like White Sands, in New Mexico, have more areas open to dogs, though they must be leashed. They make a point to speak to park rangers on arrival to get the most up-to-date information and suggestions on which areas to visit. “In Joshua Tree, the rangers directed me to a four-wheel-drive road that no one goes on,” Ms. LaFleur said.

Persons: Danielle LaFleur, Brodin Ramsey, Chia, “, Joshua Tree, Ms, LaFleur, ” Organizations: Park Service, Yellowstone National Parks, Service Locations: Yosemite, White, New Mexico

☆ An upcoming video game is so realistic it simulates a homelessness crisis, getting laid off, and Gen Z going broke
▼ + stars: | 2023-08-15 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +4 min

Gameplay footage shows a simulation of Gen Z being broke, road accidents, and prison labor. The developers of the upcoming video game Cities Skylines 2 say they're trying to make "the most realistic city simulation ever" — one which involves homelessness, Gen Z going broke, and tragic car accidents. A screenshot from the upcoming video game Cities Skylines 2. Cities Skylines 2/Colossal OrderThe developers previously released footage on the game's realistic elements, such as Gen Z being broke and prison labor. Colossal Order's previous game, Cities Skylines, was released in 2015 and sold over 12 million copies till mid-2022.

Persons: Z, Gen Z, it's Organizations: Morning, Cities, YouTube

The day is “full of honor and pride for Afghans,” Taliban deputy spokesperson Bilal Karimi told CNN. “Afghanistan was freed from occupation, Afghans were able to regain their country, freedom, government and will. “There is no such thing as women’s freedom anymore,” said Mahbouba Seraj, an Afghan women’s rights activist and 2023 Nobel Peace Prize nominee. “The women in Afghanistan are being slowly erased from society, from life, from everything – their opinions, their voices, what they think, where they are.”Video Ad Feedback 'They can't go to school? “The only reason why I’m in Afghanistan and I’m staying here is to be next to my sisters and try to help them,” said Seraj, the women’s rights activists.

Persons: Zahra, ”, “, ” Zahra, Bilal Karimi, Zahra –, Mahbouba Seraj, CNN “, I’m, who’ve, ” Zabiullah Mujahid, haven’t, Heather Barr, Seraj, Mahbouba, “ They’re, they’re, Barr, what’s Organizations: CNN, “, Nations, United Nations, CNN “ I’m, UN, Taliban, Human Rights Locations: Afghanistan, Kabul, States, “ Afghanistan, Zahra, Afghan, United

☆ Reviving the Redwoods
▼ + stars: | 2023-08-15 | by ( Jim Robbins | Ian C. Bates | ) www.nytimes.com time to read: +1 min

The redwoods in this area are much larger in diameter and far more robust, the understory greener and more diverse. “In the untreated forest, trees are not vigorous and are susceptible to stressors — fire, wind and bugs,” said Jason Teraoka, the forester. “But here with more diameter growth and crown growth, it’s a much more vigorous forest and less susceptible to disturbance.”The thinned forest is part of a project called Redwoods Rising, which is aimed at creating old growth redwood forests for the future. Carried out by Redwood National and State Parks and Save the Redwoods League, a nonprofit, crews are using chain saws and logging equipment and planning prescribed fires, to mimic the traits of a young healthy redwood forest and undo the damage from decades of unbridled logging and indiscriminate reseeding. Treated forest stands, or communities of similar trees like this, researchers believe, will grow into the classic cathedral-like groves of redwoods over the next few centuries.

Persons: ”, Jason Teraoka Organizations: National Park Service, Redwood National, State Parks, Redwoods League Locations: redwoods

[1/4] Taliban soldiers stand guard at the second-anniversary ceremony of the takeover of Kabul by the Taliban in Kabul, Afghanistan, August 15, 2023. Taliban parades were expected through the day and several departments, including the education ministry, held gatherings to celebrate. For many women, who enjoyed extensive rights and freedoms during the two decades of rule by Western-backed governments, their plight has become dire since the return of the Taliban. OBSTACLE TO RECOGNITIONGirls over the age of 12 have been mostly excluded from classes since the Taliban returned to power. For many Western governments, the ban is a major obstacle to any hope of formal recognition of the Taliban administration.

Persons: Ali Khara, Ashraf Ghani, Zabihullah Mujahid, Mujahid, It's, Amina Mohammed, Matiullah, Mohammad Yunus Yawar, Charlotte, Robert Birsel Organizations: REUTERS, Taliban, Islamic, U.S . Federal Reserve Bank of New, Swiss, Thomson Locations: Kabul, Afghanistan, Ali Khara KABUL, U.S, Western, U.S . Federal Reserve Bank of New York, Charlotte Greenfield, Islamabad

☆ UN envoy urges world court to prosecute Afghan gender discrimination
▼ + stars: | 2023-08-15 | by ( Michelle Nichols | ) www.reuters.com time to read: +2 min

A beauty salon with defaced pictures of women is seen in Kabul, Afghanistan, July 6, 2023. On the second anniversary of the Taliban's return to power as U.S.-led forces withdrew after 20 years of war, Brown said he had written to ICC prosecutor Karim Khan to argue his point. Girls over the age of 12 have been mostly excluded from school classes since the Taliban returned to power. "The International Criminal Court should recognize this gender discrimination as a crime against humanity and investigate it with a view to the arraignment and prosecution of those responsible," said Brown, a former British prime minister. Khan is investigating suspected war crimes committed in Afghanistan over the past 20 years.

Persons: Ali Khara, Gordon Brown, Brown, Karim Khan, Khan, We've, Michelle Nichols, Grant McCool Organizations: REUTERS, UNITED NATIONS, Criminal Court, ICC, Girls, Taliban, Muslim, Thomson Locations: Kabul, Afghanistan, British, Kandahar

☆ DeSantis urges Bob Iger to drop Disney lawsuit, accept the end of 'special privileges'
▼ + stars: | 2023-08-14 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Ron DeSantis on Monday said that Disney CEO Bob Iger should drop his company's lawsuit accusing the Republican governor of political retaliation. They're going to lose that lawsuit," DeSantis said in an interview with CNBC's "Last Call" set to air in full at 7 p.m. "So what I would say is, drop the lawsuit," the governor said when asked what he would tell Iger if he were to give him a call today. They have not had the same special privileges as you have," DeSantis said he'd tell Iger. But I'm not fine with giving extraordinary privileges, you know, to one special company at the exclusion of everybody else," he said.

Persons: Ron DeSantis, Bob Iger, They're, DeSantis, CNBC's Organizations: Florida Gov, Disney, Republican, Sunshine State, Business, Universal, SeaWorld Locations: Florida, States

☆ A cruise expert that's been on over 300 ships shares his top tips and tricks for your next trip
▼ + stars: | 2023-08-14 | by ( Hannah Towey | ) www.businessinsider.com time to read: +8 min

Cruise ships and their destinations are overflowing with travelers this summer. Cruise ships — and their destinations — are jam-packed with travelers this summer. Pick a cruise line that matches your personality and expectationsNot all cruise lines, or cruise ships for that matter, cater to the same kind of clientele. Buy travel insurance if you're going on an international cruiseChiron said he never travels internationally without purchasing trip insurance. Weigh the pros and cons of booking airfare through the cruise lineSome cruise lines have access to discounted flights and allow you to bundle your airfare with your cruise.

Persons: Guy, Stewart Chiron, Chiron, Don't, I've Locations: Mykonos, Santorini, It's, Miami, Seattle, Los Angeles, Rome

☆ Disney's future, a hot topic among Hollywood elite
▼ + stars: | 2023-08-14 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +5 min

[1/2] Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. REUTERS/Hannah McKay/File PhotoAug 14 (Reuters) - Hollywood's favorite parlor game of the week: What will Bob Iger do next? Another veteran media executive predicted Disney would spin off the television asset to its shareholders as a separate, publicly traded company by 2024, with private equity potentially playing a role. "You sell the parts, then sell what's left," said the veteran. Reporting by Dawn Chmielewski in Los Angeles; Editing by Kenneth Li and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Bob Iger, Hannah McKay, Walt Disney, Iger, Jeff Bewkes, what's, It's, Laura Martin, Dawn Chmielewski, Kenneth Li, Richard Chang Organizations: Walt Disney Company, Leicester Square, REUTERS, U.S ., Walt, CNBC, Reuters, ESPN, Disney, ABC, Disney Channel, NBA, Comcast, Hulu, Time Warner, Google, Facebook, Apple, Netflix, MGM, Needham, Thomson Locations: London, Britain, Culver City, New York City, U.S, Hulu, Hollywood, Los Angeles

Days after the deadliest American wildfire in more than a century ignited on West Maui, killing dozens and leveling more than 2,200 buildings, increasingly frustrated residents said that they were receiving far more help from an ad hoc network of volunteers than they were from the government. After the fire destroyed the town of Lahaina, hundreds of local residents — a group that includes evacuees along with nearby residents who found themselves cut off from power and internet service — remained affected in West Maui, miles beyond the highway checkpoints. Some evacuees slept in parks; others stayed in their own homes that survived the disaster or with friends in the wider community of that part of the island. They have been searching desperately for gasoline, phone reception and hot food, especially after power outages rendered refrigerators and microwaves useless. In many cases, they have leaned on church groups, community organizations and volunteers to track down missing relatives, get rides to shelters or access supplies brought in on private boats and airplanes.

Locations: West Maui, Lahaina

☆ Woman attacked by 'vicious' otter in Montana
▼ + stars: | 2023-08-12 | by ( Sara Smart | ) edition.cnn.com time to read: +4 min

All three women received treatment for their injuries, some of which were more serious than others. The three women were in the middle of a wide stretch of the river on Wednesday evening when the otter appeared behind one of them and attacked, Royce explained. “I didn’t even get a chance to get the words, ‘There is an otter behind you,’ out of me before it attacked her,” Royce said. Royce’s face, arms, ears, hands, legs and ankle were all bit by the otter as it attacked for about five minutes. The Montana Fish, Wildlife and Parks has posted signs at various recreational fishing sites advising people of otter activity in the area.

Persons: Jen Royce, Royce, “, ” Royce, ”, Montana FWP Organizations: CNN, Wildlife, Parks Locations: Montana, Butte, “

The Perseid meteor shower lights up the sky this weekend. Dark sky parks and IDA-certified locations are the best places to view this show and many others. From Alaska to Wyoming, here's a list of some of the darkest skies in each of the 50 US states. These are often officially zoned "dark sky parks", which have clear views of the night sky when the weather permits. Only the clearest of night skies, unimpeded by light pollution, are allowed the honorable IDA-certified title.

Persons: We've Organizations: IDA, Service, Sky Association Locations: Alaska, Wyoming, Wall, Silicon, Utah, Michigan

Two long-time industry executives told Reuters that Yellow's rates were roughly 10% to 20% below those of rivals. Loads in the so-called LTL market do not trade on the spot market and they vary based on the type and size of shipments, they said. "Yellow was way below" market rates, said Ken Adamo, chief of analytics at DAT Freight and Analytics, which operates one of North America's largest truck freight marketplaces. Unlike the highly fragmented trucking market, LTL is dominated by about a dozen players. Some providers are already raising rates, which could send LTL rates up 10% to 15% from current levels, Pickett said.

Persons: Mike Blake, Ken Adamo, Chris Pickett, Pickett, Adamo, Thomas Schmitt, Schmitt, Lisa Baertlein, Marguerita Choy Organizations: U.S, Rivals, Reuters, Analytics, Flock, Walmart, International Brotherhood of Teamsters, Forward, Forward Air, Thomson Locations: Mexico, San Diego , California, U.S, North, Los Angeles

☆ Rewild the Run: ‘Rewilding’ shoes can help restore nature as you run
▼ + stars: | 2023-08-11 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +8 min

CNN —What if you could help nature by simply going out for a run? That’s the idea behind Rewild the Run, a 3D-printed shoe outsole that fits over regular sneakers. The hope is that by spreading seeds, shoes fitted with the outsole could help with rewilding, a form of nature restoration that enables the environment to take care of itself, with reduced human intervention. “How will these shoes distinguish between the seeds of native and non-native plant species?”Carver is skeptical about the principle of urban rewilding itself. She also shares the vision of rewilding taking place at scale and by giving nature space, and says that would be the ideal in cities such as London.

Persons: It’s, ”, Kiki Grammatopoulos, “, Tom Mannion, Grammatopoulos, George de Mestral, cockleburs, IVN, Thomas Heatherwick, ROSLAN RAHMAN, David Fielding, Shirley Rodrigues, Ralph Fyfe, Fyfe, ” Fyfe, Stephen Carver, ” Carver, Carver, wilder, ” Grammatopoulos Organizations: CNN, Central Saint Martins, Environmental Education, Heatherwick, Singapore, Getty, Force, Enfield, Geospatial, University of Plymouth, University of Leeds Locations: London, Velcro, Netherlands, Nottingham, England, AFP, London's, rewilding

☆ Disney hikes streaming prices, focuses on costs as Iger moves to reassure investors
▼ + stars: | 2023-08-10 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +5 min

Disney also posted quarterly revenue below expectations and fell slightly behind analyst projections for U.S. subscribers of Disney+. A sign is shown at one of the entrances to Disney Studios in Burbank, California, U.S., July 25, 2023. It added 800,000 Disney+ subscribers, 100,000 subscribers shy of analyst estimates, and shed 12.5 million subscribers to the Disney Hotstar service in India, or nearly a quarter of its subscribers, as it gave up rights to Indian Premiere League cricket matches. Disney's direct-to-consumer business reported a 9% increase in revenue to $5.5 billion, as the average revenue per subscriber rose at Disney+ and Hulu. The unit had lower operating income at its domestic parks, due to decreases at Walt Disney World Resort in Orlando, Florida.

Persons: Walt Disney, Bob Iger, ’, “, I've, ” Iger, Wall, Iger, Mike Blake, Jesse Cohen, Dawn Chmielewski, Chavi Mehta, Aditya Soni, Peter Henderson, Sayantani Ghosh, Matthew Lewis Organizations: ESPN, Disney, Hulu, Netflix, Disney Studios, REUTERS, Indian Premiere League, Investing.com, Shanghai Disney Resort, Walt Disney World, Thomson Locations: Hollywood, Europe, Canada, Burbank , California, U.S, India, Disney's, Orlando , Florida, Los Angeles, Bengaluru

☆ Art therapy offers relief to Afghan women struggling with mental health
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +4 min

But she sank into depression since the Taliban closed tertiary institutions to women in December, requiring psychiatric treatment where she was recommended art therapy classes. But many women, particularly in urban areas, who gained opportunities in education and work during the 20-year presence of foreign troops and a Western-backed government are now struggling with a deep sense of despair and mental health challenges, Afghan women and mental health experts say. There are few reliable figures on mental health trends but anecdotally doctors and aid workers say more women are struggling with mental health in the wake of the orders restricting women's work and education. Not only did I make good friends here, I also receive art therapy," said a former university student at the class. Khushi said the art therapy gave her a respite from home and a little hope for the future.

Persons: Khushi, I'm, Charlotte Greenfield, Raju Gopalakrishnan Organizations: Health, Reuters, Thomson Locations: MAZAR, SHARIF, Afghanistan, Balkh province's, Islamic Emirate, Balkh's, Mazar

☆ Disney just hiked streaming prices by almost 30% and Wall Street is thrilled
▼ + stars: | 2023-08-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Disney announced higher prices for its streaming services, and Wall Street is loving it. The entertainment company hiked prices for Disney+, Hulu, and ESPN by almost 30%. Here's what Wall Street is saying about Disney's price hikes and 3rd-quarter earnings results. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Here's how Wall Street reacted to Disney's earnings report and streaming price hikes.

Persons: Disney, Goldman Sachs, JPMorgan Organizations: Disney, ESPN, Service, Hulu, Bank of America, PENN, ESPN BET, " Bank of America, JPMorgan Locations: Hulu, Wall, Silicon, Parks

☆ 'Our favorite name:' Why analysts are still bullish on Disney after latest earnings report
▼ + stars: | 2023-08-10 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Despite a mixed fiscal third-quarter report, Wall Street analysts are positive on Disney going forward. Morgan Stanley's Benjamin Swinburne maintained an overweight rating with a $105 per share price target, or 20% upside from Wednesday's close. JPMorgan's Philip Cusick similarly reiterated an overweight rating with a $125 per share price target on Disney, which implied upside of 43%. Goldman Sachs' Brett Feldman, meanwhile, has a buy rating on Disney stock with a price target of $128 per share, or 46% upside from Wednesday's close. Citi's Jason Bazinet reiterated a buy rating on Disney stock accompanied by a $125 per share price target.

Persons: Morgan Stanley's Benjamin Swinburne, Swinburne, JPMorgan's Philip Cusick, " Cusick, Goldman Sachs, Brett Feldman, Jessica Reif Ehrlich, Bob Iger's, Ehrlich, Jason Bazinet, Disney's, Michael Bloom Organizations: Wall Street, Disney, DIS, Media, ESPN . Bank of America, ESPN Bet

☆ Why you shouldn’t buy stocks just because you think the Fed is done hiking rates
▼ + stars: | 2023-08-10 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Hold Estee Lauder Estee Lauder (EL) remains a hold despite a difficult operating environment on weakening demand in China. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m.

Persons: Jim Cramer, Bob Iger's, Estee Lauder Estee Lauder, Fabrizio Freda, Estee Lauder, Jim Cramer's, Jim Organizations: CNBC, Disney Disney, Disney Locations: China

☆ Disney cost cuts exceeding targets but quarterly revenue misses
▼ + stars: | 2023-08-09 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +4 min

The entertainment conglomerate also said it fell slightly behind analyst projections for U.S. subscribers of Disney+. It added 800,000 Disney+ subscribers, 100,000 subscribers shy of analyst estimates, and shed 12.5 million subscribers to the Disney Hotstar service in India, or nearly a quarter of its subscribers, as it gave up rights to Indian Premiere League cricket matches. Disney's traditional television business continued its decline, with lower revenue and operating income across the company's broadcast and cable TV business. TV revenue for the quarter decreased 7% to $6.7 billion, while operating income fell 23% to $1.9 billion. Disney's direct-to-consumer business reported a 9% increase in revenue to $5.5 billion, as the average revenue per subscriber rose at Disney+ and Hulu.

Persons: Mike Blake, Walt Disney, Bob Iger, Iger, Disney, Strange, Disney's, Dawn Chmielewski, Chavi Mehta, Aditya Soni, Peter Henderson, Sayantani Ghosh, Matthew Lewis Organizations: Disney Studios, REUTERS, Disney, Indian Premiere League, Hulu, Guardians, Shanghai Disney Resort, Walt Disney World, Thomson Locations: Burbank , California, U.S, India, Orlando , Florida, Los Angeles, Bengaluru

☆ Here's how analysts say to trade Disney ahead of its earnings announcement
▼ + stars: | 2023-08-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

DIS YTD mountain Disney shares' YTD performance Ahead of the company's quarterly release, several Wall Street analysts have lowered their performance forecasts. The new price target suggests shares could rally 45% from Tuesday's close. He cut his price target to $105 from $110. Finally, Deutsche Bank analyst Bryan Kraft lowered his price target, citing lower advertising revenue and underperformance at the box office. His new price target is $120, down from $131.

Persons: Wednesday's, Goldman Sachs, Goldman, Brett Feldman, John Hodulik, Vijay Jayant, Morgan Stanley, Benjamin Swinburne, Bryan Kraft, Kraft, — CNBC's Michael Bloom Organizations: Disney, Investors, Penn Entertainment, ESPN, ESPN Bet, Disney World's, UBS, Hollywood, Deutsche Bank, Kraft Locations: Tuesday's

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