AMC’s Revised Stock Conversion Plan Approved by Court
AMC Entertainment Holdings Inc. won court approval of a stock conversion plan that had spurred a shareholder lawsuit
2023-08-12 04:51
Bankman-Fried in Custody After Bail Is Revoked Over Leaks
FTX co-founder Sam Bankman-Fried was taken into custody after a federal judge revoked his bail less than two
2023-08-12 04:21
Trump Limited by Judge From Sharing Sensitive 2020 Election Case Evidence
A federal judge in Washington imposed some limits on what Donald Trump can say publicly about certain evidence
2023-08-12 04:19
The Higher Your Tax Bracket, the More Attractive Municipal Bonds May Look
US investors looking to match the long-term returns provided by equities need look no further than the seemingly
2023-08-12 03:18
Disney+ price rise: Streaming service increases prices by almost a third and threatens password crackdown
Disney will dramatically increase the price of its streaming service. Disney+ prices will rise by as much as 27 per cent, with the company saying that it is facing a challenging market. At the same time, the company will roll out an ad-supported tier in the UK, that will allow customers to subscribe for £4.99 per month. And its chief executive, Bob Iger, said that next year it would be looking to launch a password sharing crackdown to attempt to force different households to have their accounts. The moves follow similar changes at Netflix and other streaming services, many of which have recently launched price increases, ad-supported tiers and password sharing crackdowns of their own. The introduction of the new ad-supported tier in the UK means that the price of access to Disney+ has dropped. Prices previously started at £7.99. The new changes will also bring a new option, called Disney+ Standard, which will cost £7.99. That comes at the current price but removes options such as 4K streaming and the ability to stream on four devices at once. The existing tier will become Disney+ Premium and cost £10.99 per month. If users do not opt out of that change, they will face a £3 per month price increase. Similar price increases will go into effect elsewhere, across the US and Europe. In. the US, the price of Disney+ will rise up to 27 per cent, to $13.99 per month, and a similar rise will go into effect at Hulu. Disney’s announcements came as it revealed its recent quarterly results, doing which chief executive Bob Iger acknowledged that the entertainment company faces a “challenging environment” in the near term. But he emphasized progress in cutting costs and focusing on creativity, even as quarterly results showed Disney‘s soft spots. Disney’s stock rose nearly 3% in after-hours trading, as Iger touted $1 billion in operating-income improvement at the company’s streaming business over the last three quarters, which is aiming for profitability in 2024. He said Disney will reduce the number of titles it releases and also the cost per title. Disney said it cut losses at its streaming video services to $512 million in its fiscal third quarter from about $1.1 billion a year ago. 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 will have to cut prices from current levels in an effort to stimulate demand and defend its market share in an increasingly competitive industry,” said Jesse Cohen, senior analyst at Investing.com. Additional reporting by agencies Read More How much of a threat does AI really pose? Get your ticket for our free event Elon Musk reveals more dramatic details of fight against Mark Zuckerberg Warning over ‘dangerous’ carbon monoxide alarms for sale on eBay and Amazon How much of a threat does AI really pose? Get your ticket for our free event Elon Musk reveals more dramatic details of fight against Mark Zuckerberg Warning over ‘dangerous’ carbon monoxide alarms for sale on eBay and Amazon
2023-08-12 02:56
Bill Gross Says 10-Year Treasuries Are ‘Overvalued’
Veteran bond investor Bill Gross reckons benchmark 10-year Treasury notes are “overvalued” at current levels. Speaking in an
2023-08-12 02:55
US Finally Joins Allies in Sanctioning Four Russian Tycoons
The US imposed sanctions on four Russian tycoons who helped found the Alfa Group banking conglomerate, finally joining
2023-08-12 02:45
Target recalls 2.2 million candles that pose a safety threat
Target is recalling 2.2 million candles following reports that the glass jars containing them are "breaking or cracking during use," resulting in one minor injury.
2023-08-12 02:27
Fed doves, Fed hawks: a look at how U.S. central bankers fly
The labels “dove” and “hawk” have long been used by central bank watchers to describe the monetary policy
2023-08-12 01:54
PDC Bondholders Push Back on Chevron Debt Swap Offer After Tie-Up
A substantial majority of PDC Energy Inc.’s bondholders say they won’t tender their bonds following the company’s acquisition
2023-08-12 01:48
Lesser-Known Treasury Yield Is on Brink of Historic Breakthrough
Short-term Treasury yields once again advancing toward 5% hog the spotlight, but there’s another drama unfolding in a
2023-08-12 01:46
Yellen Pitches Biden’s Economic Strategy, Citing Real Wage Gains
Treasury Secretary Janet Yellen will next week advance the growing effort among administration officials looking to convince voters
2023-08-12 01:23