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☆ Inside the Disney drama as CEO Bob Iger returns, replacing protege Bob Chapek
▼ + stars: | 2022-12-26 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Bob Iger returned to Disney as CEO in November, ending Bob Chapek's rocky tenure. In one of the most dramatic reversals in corporate history, the Walt Disney Co. board reinstated Bob Iger as CEO in November, ousting his predecessor Bob Chapek. Disney had just reported a $1.5 billion loss in its streaming business on a November 8 earnings call. Wall Street faulted him for waiting until after the 3Q earnings call to announce that layoffs were planned, for example. Read more about what Disney, Hollywood, and Iger expect from Iger:

☆ Travel abroad is poised 'for a big comeback' in 2023 as Americans eye trips to Asia, Europe
▼ + stars: | 2022-12-25 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Jackyenjoyphotography | Moment | Getty ImagesAmericans are poised to travel overseas in a big way in 2023. Why travel abroad is poised 'for a big comeback'D3sign | Moment | Getty ImagesThirty-one percent of Americans are more interested in international than domestic travel, according to a recent poll by tourism market research firm Destination Analysts. It cited international travel among the top three trends for 2023, saying it's poised "for a big comeback." Karl Hendon | Moment | Getty Imageswatch nowWhere travel is ramping up mostHo Chi Minh City, Vietnam. Global demand for travel has played out similarly, with most interest directed at Europe and Asia, according to Expedia data.

☆ Taliban ban women from working for domestic, foreign NGOs
▼ + stars: | 2022-12-24 | by ( ) www.cnbc.com time to read: +5 min

The Taliban government on Saturday ordered all foreign and domestic non-governmental groups in Afghanistan to suspend employing women, allegedly because some female employees didn't wear the Islamic headscarf correctly. It was not immediately clear if the order applies to all women or only Afghan women working at the NGOs. More details were not immediately available on the latest Taliban ban amid concerns that it could be a stepping-stone to more restrictive measures against women in Afghanistan. Also Saturday, Taliban security forces used a water cannon to disperse women protesting the ban on university education for women in the western city of Herat, eyewitnesses said. Afghan women have since demonstrated in major cities against the ban, a rare sign of domestic protest since the Taliban seized power last year.

☆ King Charles' III property empire includes 7 McDonald's, a Victoria's Secret, and an Apple store
▼ + stars: | 2022-12-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

The Crown Estate owns properties worth $17.6 billion, including farmland and seabeds. It also owns retail parks with stores including McDonald's, Starbucks, KFC, and Victoria's Secret. The Crown Estate, which generates profits for the UK Treasury, is owned by the reigning monarch and control was passed down from Queen Elizabeth II to King Charles III upon her death in September. Lingerie and sex-toy shop Ann Summers also has a store at the Westgate shopping mall in Oxford, as does Victoria's Secret. Regent Street in central London, which is owned by the Crown Estate.

☆ Emmett Till and his mother honored with congressional medal
▼ + stars: | 2022-12-22 | by ( Associated Press | ) www.nbcnews.com time to read: +2 min

The House unanimously passed a bill Wednesday to posthumously award the Congressional Gold Medal to Emmett Till, the Chicago teenager murdered by white supremacists in the 1950s, and his mother, Mamie Till-Mobley. The bill, which passed the Senate in January, is meant to honor Till and his mother — who had insisted on an open casket funeral to demonstrate the brutality of his killing — with the highest civilian honor that Congress awards. The medal will be given to the National Museum of African American History where it will be displayed near the casket Till was buried in. The killing galvanized the civil rights movement after Till’s mother insisted on an open casket and Jet magazine published photos of his brutalized body. The designation comes months after President Joe Biden signed the first anti-lynching legislation, named after Till, into law.

☆ Saudi Arabia and Turkey condemn Taliban university ban for women
▼ + stars: | 2022-12-22 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

In another sign of domestic opposition, several Afghan cricketers condemned the university ban. The latest condemnations of the university ban came from Turkey and Saudi Arabia. The Saudi foreign ministry expressed “astonishment and regret” at Afghan women being denied a university education. Another show of support for female university students came at Nangarhar Medical University. Local media reported that male students walked out in solidarity and refused to sit exams until women’s university access was reinstated.

☆ Why America’s economy remains surprisingly strong – but you don’t realize it
▼ + stars: | 2022-12-22 | by ( Christine Romans | ) edition.cnn.com time to read: +2 min

New York CNN Business —Each week brings head-scratching contradictory news about the economy. This past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience. Yes, the economy is strong. “The labor market is incredibly strong again,” Federal Reserve Chairman Jerome Powell in a speech last month. That means the next year will no question be a challenge as all that tightening continues to work its way through the economy.

☆ Don't despair, here are five US counties where homeownership won't cost you more than 15% of your paycheck
▼ + stars: | 2022-12-22 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

Cambria County, PennsylvaniaPercent of wages needed to afford a home: 14.1%Typical annual wage: $44,746Typical mortgage payment per month: $5254. St. Lawrence County, New YorkPercent of wages needed to afford a home: 13.6%Typical annual wage: $55,172Typical mortgage payment per month: $6233. Peoria County, IllinoisPercent of wages needed to afford a home: 13.5%Typical annual wage: $69,238Typical mortgage payment per month: $7802. Schuylkill County PennsylvaniaPercent of wages needed to afford a home: 12.8%Typical annual wage: $50,336Typical mortgage payment per month: $5361. Macon County, IllinoisPercent of wages needed to afford a home: 12%Typical annual wage: $62,686Typical mortgage payment per month: $625

☆ Female students turned away as Taliban fighters enforce university ban
▼ + stars: | 2022-12-21 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

The country’s Taliban rulers a day earlier ordered women nationwide to stop attending private and public universities effective immediately and until further notice. Rahimullah Nadeem, a spokesman for Kabul University, confirmed that classes for female students had stopped. Taliban fighters stand guard at the entrance gate of a university in Jalalabad on Wednesday. AFP - Getty ImagesMembers of an activist group called the Unity and Solidarity of Afghanistan Women gathered outside the private Edrak University in Kabul on Wednesday morning, chanting slogans in Dari. AFP - Getty ImagesQatar and Pakistan, both Muslim countries, have expressed their disappointment at the university ban and urged authorities to reconsider their decision.

☆ Women banned from universities in Afghanistan by the Taliban
▼ + stars: | 2022-12-20 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

KABUL, Afghanistan — Women are banned from private and public universities in Afghanistan with immediate effect and until further notice, a Taliban government spokesman said Tuesday, the latest edict cracking down on their rights and freedoms. Despite initially promising a more moderate rule and women’s and minority rights, the Taliban have widely implemented their harsh interpretation of Islamic law, or Sharia. They have banned girls from middle school and high school, restricted women from most employment and ordered them to wear head-to-toe clothing in public. Women are also banned from parks and gyms. The university ban comes weeks after Afghan girls took their high school graduation exams, even though they have been banned from classrooms since the Taliban took over the country last year.

☆ Hong Kong to drop COVID test for bars, entertainment venues
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Dec 20 (Reuters) - People in Hong Kong will from Thursday no longer need to show a negative COVID-19 test to get into bars and restaurants while cinemas and performing venues will be allowed to operate at full capacity, health authorities said. Hong Kong has for nearly three years largely followed China's lead in tackling the novel coronavirus. While Hong Kong has effectively dismantled many of its stringent COVID rules in recent months, masks are still compulsory in public places unless exercising, and a vaccine pass is required to enter many venues. Lee will go on a four-day duty visit to Beijing on Wednesday where he said he would report on Hong Kong's political and economic environment as well as the COVID situation. A closely anticipated full reopening of Hong Kong's border with mainland China and quarantine free travel between both places is expected to be on the agenda.

☆ Disney stock has plunged 45% this year, putting it on track for its worst performance in nearly 5 decades
▼ + stars: | 2022-12-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Disney stock is down 45% this year and on track for its worst annual performance since 1974. The shares have been hit by pandemic disruptions, management issues, and the wider market downturn. The painful selloff has erased about $200 billion from Disney's market capitalization since March 2021. Yet investors have balked at the streaming service's rising costs, which fueled a hefty $1.5 billion operating loss in Disney's streaming division last quarter. Disney stock has also been caught up in a wider market downturn.

☆ Disney should spin off ESPN and ABC, analyst says
▼ + stars: | 2022-12-20 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

But one Wall Street analyst has an idea for how Disney could get back on track. Wells Fargo’s Steven Cahall thinks Disney should spin off cable sports giant ESPN and traditional TV network ABC… two slow-growth (and some would argue, dying) businesses. Cahall wrote in his report that “we think Bob Iger is returning to {Disney] ready to make big changes. ESPN, in theory, may have an easier time negotiating with sports leagues as part of a pure play media network. “We think ESPN and ABC are integrally linked as the broadcast [network] improves negotiations in sports rights, and we’re seeing more of those sports on both networks,” he wrote.

Insider has compiled a list of six cities where you can live for $1,000 or less per month. Insider has compiled a list of six cities where you can live for $1,000 a month, using data from the comparison website Numbeo, which provides a crowdsourced summary of the cost of living in major cities across the world. In Rio, you'll need about $940 a month to cover an apartment in the city center and your living expenses. An apartment in the city center and living expenses would set you back around $700 a month. A one-bedroom apartment outside the city center and living expenses would set you back around $940 per month.

☆ The US doesn't have to worry about China repeating its mistakes in the Middle East
▼ + stars: | 2022-12-20 | by ( Natalie Armbruster | Defense Priorities | ) www.businessinsider.com time to read: +6 min

It was seen as a message to the US, but it's a mistake to think China has the same ambitions in the Middle East as the US. China has long assessed US involvement in the Middle East to be damaging to American power and strength. The first thing to know is China's involvement in the Middle East rests primarily on its energy dependence. Taking sides among adversaries in the Middle East would only limit China's trading partners and opportunities for mutual economic interest. The reality is that no matter China's view of the Middle East, the potential benefits that China could garner from its investments in the Middle East are not significant nor threatening enough to US interests to warrant the current level of worry.

☆ How billionaires like Jeff Bezos and Richard Branson spend their vacations, from cruising on yachts to visiting private islands
▼ + stars: | 2022-12-20 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +1 min

Vacations look a little different for the world's billionaire executives. For Jeff Bezos and Eric Schmidt, cruising in a luxury yacht may be on the agenda. But for the wealthy and powerful, vacations look a little different. Or there's Tim Cook, Apple's billionaire CEO, who spends his time away from running the iPhone-maker exploring America's national parks. Take a look at how some of the nation's most high-powered billionaire execs spend their vacations.

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☆ Casinos in Macau, the Vegas of the East, have managed to renew crucial gaming licenses. But there's a hefty catch — they need to pump in $15 billion into non-gaming sectors.
▼ + stars: | 2022-12-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Macau's six casino operators pledged to invest nearly $15 billion in non-gaming sectors. In return for the investments, Macau's government has renewed their gaming licenses. Gaming licenses for the six major casino operators had expired back in June, throwing into question Macau's future as a gambling hub. The new 10-year gaming licenses come into effect on January 1, 2023. Among the six gaming companies, Sands China has committed to spending the most in non-gaming projects — about 27.8 billion patacas, or $3.5 billion.

☆ Disney shares fall following softer-than-expected 'Avatar' opening weekend
▼ + stars: | 2022-12-19 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Shares of Disney dropped on Monday following a weaker-than-expected opening box office weekend for James Cameron's "Avatar: The Way of Water." Industry analysts pegged the long-awaited "Avatar" sequel as a box office winner for Disney and are viewing the holiday season as a make-or-break period for the film. The film notched $134 million at the domestic box office during its opening weekend, falling short of analyst expectations of $175 million and Disney's own forecast of between $135 million and $150 million. Still, box office analysts aren't concerned yet. Internationally, "Way of Water" raked in $300.5 million, bringing its total opening weekend number to $434.5 million.

☆ The biggest media targets and buyers in 2023, as speculation swirls around Disney's next move under CEO Bob Iger and how Warner Bros. Discovery can shed debt
▼ + stars: | 2022-12-19 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

Continued pressure to get bigger has big media companies in Hollywood looking to scale up. Media bankers and investors predicted to Insider that dealmaking will rebound in 2023 as companies big and small size up their options for possible tie-ups. Pressure on big media companies to get bigger hasn't gone away. Apple: Could eye a big content prizeTim Cook. Paramount's library could help a streaming company bulk up its content; Netflix for one has explored Paramount's studio business before.

☆ Argentines Celebrate First World Cup Title Win Since 1986
▼ + stars: | 2022-12-18 | by ( Kejal Vyas | ) www.wsj.com time to read: 1 min

BUENOS AIRES—From parks to packed bars to people’s homes, Argentines celebrated wildly as the national team led by Lionel Messi beat France in a penalty shootout in the World Cup, giving a much-needed lift to a country traversing a painful economic crisis. Dust filled the air as fans jumped up and down in parks outfitted with jumbotrons in the nation’s capital. Fans outfitted in the team’s blue-and-white jerseys embraced each other and cried tears of joy after a tense finish. In parks and city streets, they sprayed foam out of aerosol cans, waved the national flag and chanted, “Messi’s bringing home the World Cup,” as the last penalty hit the back of the net.

☆ Reinstated Disney CEO Bob Iger spent months undermining his now-ousted successor Bob Chapek by keeping an office and criticizing his leadership, report says
▼ + stars: | 2022-12-18 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Disney CEO Bob Iger spent months undermining his successor Bob Chapek, the Wall Street Journal reported. Disney's board dramatically reinstated Iger as CEO last month amid broader dissatisfaction with Chapek's leadership. Other execs were considering leaving if Chapek stayed in the CEO role, a senior figure at Disney told Insider, expressing frustration with his leadership and decision-making. He was criticized internally and by industry figures for making decisions without enough information, the Disney insider told Insider last month. Disney and Iger were not immediately available to respond to Insider's request for comment made outside of US working hours.

☆ 6 key Disney executives working with Bob Iger to remake former CEO Bob Chapek's business structure
▼ + stars: | 2022-12-18 | by ( Lucia Moses | Alison Brower | ) www.businessinsider.com time to read: +8 min

Disney CEO Bob Iger has returned to a company facing significant pressures on its linear and streaming businesses. He'll also need to unwind the business structure implemented in 2020 by his short-lived predecessor, Bob Chapek — which separated budgeting and distribution decisions from creative content development. Alan Bergman, chairman, Disney Studios ContentAlan Bergman. Disney Interactive/Reuters/Jonathan AlcornPitaro is close to Iger, has a long tenure at Disney, and has a foot in both creative and business sides. Dana Walden, chairman, Disney General Entertainment ContentDana Walden.

☆ Charities Give the Gift of Guilt
▼ + stars: | 2022-12-16 | by ( Peter Funt | ) www.wsj.com time to read: 1 min

I’m writing notes on a pad furnished by Save the Children, with a pen that came from Boys Town. A colorful calendar on my desk was sent to me by California’s State Parks Foundation. The cards I’m mailing this season have a return-address label provided by the Shriners Hospitals for Children. I didn’t ask for any of this stuff, so should I feel guilty for using it? The holiday season is prime time for charities—extending to Dec. 31, which is the cutoff for donations to qualify as 2022 tax deductions.

☆ 10 Fascinating Facts About Lego—From World Records to David Beckham’s Obsession
▼ + stars: | 2022-12-16 | by ( William Goodman | ) www.wsj.com time to read: 1 min

IF YOU BUILD IT, they will come—that’s always been true for baseball fields and it is starting to feel like an apt motto for Lego A/S, which celebrated its 90th birthday on Aug. 10. Based in Billund, Denmark, the company remains the largest toy manufacturer in the world. But it now also produces videogames, television shows, movies, apparel and even theme parks.

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