Disney‘s announcement of a streaming platform in 2019 comes too late and is “probably arrogant,” a U.K.-based fund manager told CNBC Wednesday. The company is pulling out of Netflix to launch its own consumer streaming service in two years’ time, starting in the U.S. to then be expanded worldwide. Disney movies such as “Toy Story […]
Read moreFidelity Investments Inc has started allowing clients to use its website to view their holdings of bitcoin and other cryptocurrencies held through digital wallet provider Coinbase, the company said on Wednesday. The initiative, previously tested with the Boston-based money manager’s employees, is a rare example of an established financial services company warming up to cryptocurrencies. […]
Read moreU.S. credit card processing company Vantiv agreed on Wednesday to buy Worldpay, the U.K.’s largest payment processing company, for £8 billion ($10.4 billion). Worldpay said that for each of its shares, Vantiv offered 55 pence in cash, 0.0672 of a new Vantiv share, an interim dividend of 0.8 pence per Worldpay share, and a special […]
Read moreNetflix CEO Reed Hastings, who sits on Facebook’s board of directors, wrote an email to fellow board member Peter Thiel castigating him for his “catastrophically bad” judgment in supporting Donald Trump for president, according to a report in the New York Times. Hastings chairs the Facebook board’s Compensation and Governance Committee, which is responsible for […]
Read moreDisney CEO Bob Iger spoke to CNBC’s Julia Boorstin about the company’s earnings report on Tuesday, and discussed the company’s plans to withdraw its movies from Netflix. Here’s a full transcript. JULIA BOORSTIN: WITH THIS BIG NEWS TODAY ABOUT YOUR BIG INVESTMENT IN BAMTECH AND THESE TWO NEW STREAMING SERVICES IN THE WORKS. WHY DID […]
Read moreAfter Disney issued its quarterly earnings report on Tuesday and announced it would end its partnership with Netflix, Jim Cramer watched shares of Netflix drop with intrigue. “It’s sinking more in after-hours [trading] on the news that Disney is ending its movie deal with Netflix [in] 2019, in part so it can do its own […]
Read moreAfter Intel completed its $15 billion tender offer to buy Mobileye on Tuesday, Jim Cramer wondered whether the deal was a sign that the tech giant was making a serious comeback. “For years, we watched as Intel hung out on the fringes of the great markets, great markets like mobile devices, the internet of things, […]
Read moreSince the stock market decided point-blank that Amazon would bring about the death of all things retail, Jim Cramer has noticed a change in sentiment that suggests that may not be the case. “I think the market’s finally starting to behave logically, at least when it comes to many phases of retail, which have been […]
Read morePresidio Terrace in San Francisco is one of the most exclusive neighborhoods in the city. Dianne Feinstein and Nancy Pelosi have lived there. And now it’s at the center of a street fight. The controversy is over the sale of one of the streets in the posh neighborhood. A Bay Area couple bought it for […]
Read moreThe benefits of a new Foxconn plant are worth $3 billion in incentives, according to Wisconsin Gov. Scott Walker. Two weeks ago, the Taiwanese technology company announced it will invest $10 billion to build a manufacturing facility in Wisconsin, creating 3,000 jobs. At the time of the announcement, Walker said the agreement could eventually grow […]
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