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Disney vows to help repeal Florida’s “Don’t Say Gay” bill

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The Walt Disney Company said that it would help repeal Florida’s “Don’t Say Gay” bill on Monday

On the same day the Florida Governer signed the bull into law, Disney issues a statement vowing to help repeal the controversial legislation.

The world’s largest entertainment company says the “Don’t Say Gay’ bill, should never have passed and should never have been signed into law”

Marchers wave flags as they walk at the St. Pete Pier during a rally and march to protest against a bill dubbed by opponents as the “Don’t Say Gay” bill Saturday, March 12, 2022, in St. Petersburg, Fla. Florida lawmakers have passed the bill, which forbids instruction on sexual orientation and gender identity in kindergarten through third grade. It now moves to the desk of Republican Gov. Ron DeSantis, who is expected to sign it into law. (Martha Asencio-Rhine/Tampa Bay Times via AP)

The controversial bill largely forbids instruction on sexuality and gender identity in most elementary school classrooms.

Disney says “Our goal as a company is for this law to be repealed by the legislature or struck down in the courts”

LAKE BUENA VISTA, FL – JULY 11: In this handout photo provided by Walt Disney World Resort, Disney cast members welcome guests to Magic Kingdom Park at Walt Disney World Resort on July 11, 2020 in Lake Buena Vista, Florida. July 11, 2020 is the first day of the phased reopening. (Photo by Matt Stroshane/Walt Disney World Resort via Getty Images)

For the past few weeks, Disney has been slammed for its initial reluctance to condemn the anti-LGBTQ legislation.

Disney is one of Florida’s largest employers and cast members were outraged by CEO Bob Chapek’s initial ‘neutral’ stance on the bill.

The statement posted on Monday says Disney is “dedicated to standing up for the rights and safety of LGBTQ+ members of the Disney family, as well as the LGBTQ+ community in Florida and across the country”

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Money

Federal Reserve lowers rates amid eased job market

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The Federal Reserve has cut interest rates by a quarter-point, bringing the benchmark rate to a range of 4.5% to 4.75%, as economic growth continues but job gains slow.

The Fed noted that labour market conditions have “generally eased,” even with low unemployment, signalling a more cautious approach amid a stable economic expansion.

The statement marks a shift in Fed language, now saying inflation has “made progress” toward the 2% goal instead of the prior “further progress.”

With inflation holding steady around 2.6%, policymakers aim to keep economic risks balanced, despite pressures from slower job growth.

This rate cut reflects a strategic move to sustain economic momentum while cautiously watching inflation’s gradual trend toward the Fed’s target.

The decision was unanimous, aligning Fed priorities with a balanced approach to support both employment and price stability.

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Money

Trump victory sparks market surge as Wall Street soars

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Donald Trump’s election victory has sparked a massive rally in the stock market.

Banks and industrial companies led the surge as investors bet that Trump’s plans for deregulation and tax cuts will boost economic growth.

Shares of big banks, like JPMorgan and Goldman Sachs, soared as investors predicted fewer regulatory restrictions.

Meanwhile, industrial giants such as Caterpillar and steelmakers like Nucor also hit record highs, reflecting optimism about U.S. manufacturing.

In contrast, clean-energy stocks took a hit, as Trump’s policies are expected to favour traditional energy sectors.

This surge comes amid rising Treasury yields and falling gold prices as investors gain confidence in the transition to a Trump administration.

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Australian Treasurer and RBA chief clash over economy

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A rare dispute has emerged between Australia’s Treasurer Jim Chalmers and Reserve Bank Governor Michele Bullock over the nation’s economic trajectory.

Governor Bullock argues the economy remains overheated, even as growth data shows recent slowdowns.

Treasurer Chalmers, however, warns that sustained high interest rates are “smashing the economy.”

This debate is critical for Australians, as it will influence the future of interest rates and inflation.

Data shows a mixed economic picture: while inflation is down, it’s still above target, and the jobs market remains historically strong.

Ultimately, deciding who’s right may come down to theory and perspective on economic health.

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