Business Highlights: Disney job cuts; Netflix crackdown

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작성자 Robbin
댓글 0건 조회 11회 작성일 24-10-25 18:14

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Microsoft´s Activision deal hurts gamers, UK watchdog says

LONDON (AP) - Microsoft´s stalled $68.7 billion deal to Buy google ads Account - vccseller.com video game company Activision Blizzard has hit a fresh hurdle in the United Kingdom.

Britain´s antitrust watchdog said Wednesday that the deal will stifle competition and hurt gamers. The watchdog´s investigation found that the deal could strengthen Microsoft´s position in the growing cloud gaming market. The provisional report also says the deal would weaken the important rivalry between Microsoft´s Xbox console and Sony´s rival PlayStation. The deal faces opposition from Sony and pushback from regulators worldwide because it would give Microsoft control of popular game franchises like Call of Duty, World of Warcraft and Candy Crush.

Microsoft says it´s "committed to offering effective and easily enforceable solutions."

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Primary care a hot target; CVS spends $10.6B on Oak Street

Big money is pouring into primary care clinics as the nation´s health care giants hunt for ways to cut costs by keeping people healthy.

CVS Health said Wednesday that it will spend about $10.6 billion to buy Oak Street Health, which runs clinics that specialize in treating Medicare Advantage patients. That follows a nearly $9-billion investment by rival Walgreens in VillageMD´s acquisition of the urgent and primary care chain Summit Health-CityMD.

Both deals involve an expansion of value-based care, an approach to medicine growing popular with bill payers like the federal government´s Medicare program.

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Oil major TotalEnergies doubles annual profit to $36 billion

PARIS (AP) - France´s TotalEnergies SE doubled its profits in 2022, joining other international oil and gas companies in fattening their bottom lines as high energy prices surged after Russia´s invasion of Ukraine.

The company said Wednesday that adjusted net income rose to $36.2 billion, up from $18.1 billion in 2021. Big oil company profits have led to calls to tax more of the gains that were boosted by a surge in oil and natural prices after Western companies shunned or were largely cut off from Russian supplies.
TotalEnergies says it had paid $33 billion in taxes during 2022, most of it to countries where it produces oil and natural gas.

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Disney to cut 7,000 jobs in Iger´s company `transformation´

LOS ANGELES (AP) - The Walt Disney Co.

says it will cut about 7,000 jobs as part of a "significant transformation" announced by CEO Bob Iger. The job cuts amount to about 3% of the entertainment´s global workforce and were announced Wednesday after Disney reported quarterly results that topped Wall Street´s forecasts.

Iger returned as CEO in November following a challenging two-year tenure by his handpicked successor, Bob Chapek. The company says the job reductions are part of a targeted $5.5 billion cost savings across the company. In its latest results, solid growth at Disney´s theme parks helped offset tepid performance in its video streaming and movie business.

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Netflix steps up its effort to get paid for account sharing

Netflix has a plan to deal with rampant account sharing: a program that lets subscribers pay extra to share their account with people outside their household.

The streaming giant introduced paid sharing in Canada, New Zealand, Portugal and Spain on Wednesday. It was previously rolled out in Latin America, and some version of the plan is expected to be introduced in the U.S. in the next few weeks. Netflix estimates that 100 million households are currently sharing their accounts with people outside their household.
The company says that hurts its ability to invest in new programming.

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Will Ferrell, Alicia Silverstone star in Super Bowl ads

NEW YORK (AP) - Big name advertisers from Netflix to Google are paying as much as $7 million for a 30-second spot during the Super Bowl on Sunday.

In order to get as much as a return on investment for those millions, most advertisers release their ads in the days ahead of the big game to get the most publicity for their spots. In the ads released early, actor Miles Teller dances to customer-service hold music for Bud Light, Will Ferrell crashes popular Netflix shows like "Bridgerton" in a joint ad for GM and Netflix; and Alicia Silverstone reprises her "Clueless" character for online retailer Rakuten.

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Biden warns of GOP plans for Medicare, Social Security cuts

WASHINGTON (AP) - When President Joe Biden suggested that Republicans want to slash Medicare and Social Security it brought howls of protests from the GOP side of the aisle during the State of the Union address.

But it also showcased a stunning turnaround for the Republican Party that built a brand on doing just that. There was President George W. Bush´s idea about privatizing Social Security, House Speaker Paul Ryan´s sweepy Medicare overhaul and current Republican Sen. Rick Scott´s idea of "sunsetting" major entitlement programs.

As the president and the Congress launch budget negotiations ahead of the debt ceiling deadline, Biden is not going to let Republicans forget that history.

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The S&P 500 fell 46.14 points, or 1.1%, to 4,117.86.

The Dow Jones Industrial Average fell 207.68 points, or 0.6%, to 33,949.01. The Nasdaq composite fell 203.27 points, or 1.7%, to 11,910.52. The Russell 2000 index of smaller companies fell 30.01 points, or 1.5%, to 1,942.60.


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