Money

What will Bob Iger do first at Disney?

Published

3 years ago

November 23, 2022

Ahron Young

The surprise return of Bob Iger as Disney CEO, replacing his own replacement Bob Chapek, is not without precedent in corporate America.

In a memo to staffers announcing the shakeup, Iger framed his actions as an effort to restore power to creative executives at Disney.

Disney’s CFO Christine McCarthy told investors she lacked confidence in Chapek after a Nov. 8 conference call about the company’s worse than expected quarterly loss of $1.5 billion linked to its Disney+ streaming service.

Despite the steep financial pitfall, Chapek appeared upbeat and insisted the company was “on a path to profitable streaming business that generates shareholder value long into the future.”

By Friday of the following week, Disney execs were seeing if Iger would return to his old job of 15 years in order to replace Chapek, the paper reported.

Chairperson of Disney’s board Susan Arnold called Iger up and asked if he’d consider coming back to run the Mouse House once again, people with inside knowledge told the Journal.

Money

France receives lowest credit rating due to crisis

France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability

Published

18 hours ago

September 13, 2025

Ahron Young

France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability

In Short:
– Fitch Ratings downgraded France’s credit rating to A+, citing political instability and fiscal challenges.
– New Prime Minister Lecornu must secure budget approval amidst rising deficit and potential no-confidence vote.

Fitch Ratings has downgraded France’s credit rating from AA- to A+, the lowest ever recorded, amid ongoing political and fiscal challenges.

The decision comes shortly after Prime Minister François Bayrou was removed in a vote of no confidence regarding his €44 billion austerity plan.

President Emmanuel Macron has appointed Sébastien Lecornu as the new prime minister, marking the fifth leadership change in under two years.

Fitch highlighted political instability as a key factor undermining fiscal reforms, with France’s debt now at €3.3 trillion, or 113.9% of GDP.

The budget deficit increased to 5.8% of GDP and is expected to rise, posing challenges ahead.

Political Instability

The new prime minister faces a divided parliament and must secure budget approval by October 7.

The far-left plans a no-confidence vote against Lecornu, complicating further cooperation on legislative reforms, with S&P Global hinting at a potential downgrade.

Money

Trump moves to fast-track removal of Fed governor Lisa Cook

Published

2 days ago

September 12, 2025

ticker NEWS

The White House is set to fast-track a ruling on firing Federal Reserve Governor Lisa Cook, just days before the crucial FOMC meeting.

The move comes as markets reel from surging inflation, weak jobless data, and global currency shifts, raising questions about the Fed’s independence and the stability of policy decisions.

Money

ANZ job cuts spark banking clash

ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.

Published

4 days ago

September 10, 2025

ticker NEWS

ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.

ANZ has announced plans to cut 3,500 staff and 1,000 contractors over the next year, triggering a fierce debate between business leaders, unions, and government about the future of Australia’s banking sector.

The decision raises wider questions about the resilience of the business community and the role of politics, productivity, and technology in shaping employment.

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