Disney CEO Bob Iger has announced plans to lay off 7,000 workers as part of a companywide effort to reduce costs. There has been speculation about the cuts since Iger returned as CEO last November to take over from Bob Chapek, who had lost the faith of many shareholders. The entertainment giant has faced multiple economic challenges, and Iger took over with a mandate to shake up the organization. Along those lines, Disney is also restructuring itself into three divisions: Disney Entertainment, ESPN, and a Parks, Experiences and Products unit.
TWITTER GLITCH
Twitter experienced a series of technical glitches on Wednesday that cut some users off from their direct messages and forced others to schedule their tweets to post. CEO Elon Musk soon acknowledged the issues, but was fairly vague about their cause, saying there were "multiple internal & external issues simultaneously." As of Thursday, the problems appear resolved, but the incident has stoked fears that Musk's recent firings have left Twitter without necessary resources.
NETFLIX PASSWORD RULES
Netflix has finally revealed its new password sharing rules, laying the groundwork for the end of an era for many streaming users. The company said more than 100 million households share accounts globally, but many are confused about who can (and cannot) share. Users in Canada, New Zealand, Portugal, and Spain will see changes first. Here's a quick breakdown of how it will work:
BED BATH & BEYOND CLOSURES
Embattled retailer Bed Bath & Beyond has announced it's closing 149 stores just one week after shutting down 87 other locations. The company is teetering on the brink of bankruptcy and is pulling out all the stops to stay solvent, including seeking additional capital and paring down its operations. The chain's total number of stores has fallen from 760 to 360.
The social video platform's future remains in doubt, as players scramble to profit from the chaos. Plus: Big oil gets bigger, DOGE downsizes, and tariffs!
Ty Young, CEO of Ty J. Young Wealth Management, joins Cheddar to discuss Trump's moves as he returns to Washington D.C. and how it may affect the U.S. economy.
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."
J.W. Roth, CEO of Venu Holding Corporation, discusses the company's IPO and plans to redefine live music entertainment with their fan founded, fan-owned model.
Variety's Clayton Davis discusses why more than just the 1% are struggling after the LA fires. Plus, how awards shows will pivot to help victims. Watch!
