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Walt Disney Company scraps plans for Florida campus

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The head of Disney’s theme park division blamed “changing business conditions”

 
The Walt Disney Company has scrapped a plans for a new campus that would have brought thousands of employees to Florida.

The entertainment giant was prepared to fork out nearly $1 billion for the campus.

The plan would have seen about 2,000 employees relocate to a Disney-owned complex near Orlando.

The head of Disney’s theme park division blamed “changing business conditions” in an internal email to staff.

While the email does not mention politics or DeSantis, it is alluding to mounting tensions between Disney and Florida lawmakers.

The reversal comes amid an escalating feud between Disney and the state’s Republican-led government headed by Ron DeSantis.

In a statement, DeSantis’ office says: “Given the company’s financial straits, falling market cap and declining stock price, it is unsurprising that they would restructure their business operations and cancel unsuccessful ventures.”

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Xi Jinping is taking over China’s sharemarket

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China’s economy sees President Xi Jinping asserting control over its sharemarket, a move raising eyebrows globally.

 
Xi’s government has unveiled a series of measures aimed at consolidating authority over the country’s stock market, signalling a desire for greater economic stability and control.

The reforms include stricter regulations for listing on Chinese stock exchanges, with companies needing to meet more stringent criteria to go public.

Additionally, the government is increasing its oversight of foreign listings by Chinese firms, a move seen as an attempt to prevent capital flight.
#featured

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Investors worry as Tesla misses targets

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Tesla reported lower-than-expected quarterly deliveries, sending its shares into a downward spiral.

 
The EV giant’s stock tumbled as investors expressed concerns over the company’s ability to meet its ambitious growth targets.

In the third quarter of this year, Tesla delivered a total of 220,500 vehicles, missing Wall Street’s estimates.

This disappointing performance raised doubts about the company’s ability to keep up with the soaring demand for its EVs, especially as competitors continue to enter the market. #featured

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Is the housing market surge a bubble waiting to burst?

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The housing market has witnessed a remarkable surge in home sales, driving property prices to unprecedented highs.

 
Despite the ongoing economic challenges, the real estate sector appears to be thriving, leaving experts and homeowners both astonished and hopeful.

Over the past year, the real estate landscape has been anything but predictable.

But the surge in demand has been met with a limited supply of available homes.

Builders have struggled to keep pace with the soaring demand, making the situation worse. #featured

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