Disney’s earnings are hurt by costs at Disney+

Disney’s earnings are hurt by costs at Disney+

The Walt Disney Co. said it plans to cut marketing and content budgets after the company reported weaker-than-expected fourth-quarter earnings on Tuesday, the result of larger losses in its streaming business that offset strong performance in its theme parks. “We are actively evaluating our cost base at the moment,” Christine McCarthy, Disney’s chief financial officer, … Read more

Elon Musk sells nearly $4 billion of Tesla stock after Twitter acquisition

Elon Musk sells nearly $4 billion of Tesla stock after Twitter acquisition

Elon Musk sold nearly $4 billion in Tesla Inc. TSLA -2.93% stock after buying Twitter Inc. for 44 billion Mr. Musk sold 19.5 million shares in Tesla 4.-8. Nov., according to regulatory disclosures released Tuesday. Tesla’s CEO, who has become the world’s richest person thanks in large part to his stake in the car company, … Read more

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

When WHEN -0.26% Platforms Inc. will begin laying off employees Wednesday morning, CEO Mark Zuckerberg told hundreds of executives Tuesday. Mr. Zuckerberg appeared dejected at Tuesday’s meeting, saying he was responsible for the company’s missteps and that his overoptimism about growth had led to overstaffing, according to people familiar with the meeting. Meta’s chief human … Read more

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

When WHEN -0.26% Platforms Inc. will begin laying off employees Wednesday morning, CEO Mark Zuckerberg told hundreds of executives Tuesday. The upcoming layoffs are expected to amount to many thousands of employees and are likely to be the largest of the year so far in the tech sector, The Wall Street Journal previously reported. Mr. … Read more

Time Names Jessica Sibley as CEO

Time Names Jessica Sibley as CEO

Time, the publisher of Time magazine, has named Jessica Sibley as chief executive of the media company. Ms. Sibley is taking over Time’s business operations from current chief executive Edward Felsenthal, who will retain his role as editor in chief of the publication, the company said Monday. Mr. Felsenthal will also become executive chairman of … Read more

Elon Musk says Twitter will permanently ban users who impersonate others

Elon Musk says Twitter will permanently ban users who impersonate others

Elon Musk is cracking down on impersonators on Twitter, tightening policies and banning celebrities including Kathy Griffin who had impersonated him. The move is one of the first by Mr. Musk, a self-described free-speech absolute, to tighten Twitter Inc.’s free-speech policy. He said on Sunday that impersonating accounts will be permanently suspended unless they are … Read more

Twitter’s free speech problem is also Tesla’s

Twitter’s free speech problem is also Tesla’s

Tesla TSLA -3.64% already had a treacherous line between China and US CEO Elon Musk has made it worse by buying Twitter. The electric car pioneer is very dependent on China. The world’s largest electric market accounted for about 24% of Tesla’s revenue in the first three quarters of this year, but the company’s greater … Read more

Alibaba, Nio, Tencent and other Chinese stocks rise

Alibaba, Nio, Tencent and other Chinese stocks rise

Chinese stocks rose on Monday as investors remained optimistic that coronavirus rules would be eased, despite repeated messages from authorities that China would stay the course with “zero Covid” policies. Major U.S.-listed Chinese stocks were higher in premarket trade, with Ali Baba (ticker: BABA) rises 1.5%, JD.com (JD) 2% in the green, Tencent (700.HongKong) climbing … Read more

Twitter’s free speech problem is also Tesla’s

Twitter’s free speech problem is also Tesla’s

Tesla TSLA -3.64% already had a treacherous line between China and US CEO Elon Musk has made it worse by buying Twitter. The electric car pioneer is very dependent on China. The world’s largest electric market accounted for about 24% of Tesla’s revenue in the first three quarters of this year, but the company’s greater … Read more

Amazon sweetens prime deals like grow stalls

Amazon sweetens prime deals like grow stalls

Amazon.com Inc.’s The move to greatly expand its music catalog for Prime members aims to give the popular subscription program a boost, along with rivals like Walmart Inc. WMT 0.18% has achieved faster delivery times and added new features to subscriptions. The tech giant revealed last week that it is expanding the free tier of … Read more