NBCUniversal parent Comcast Corp. is considering spinning off its cable networks into a separate company as the media giant continues to grapple with massive changes in the overall linear television business. Spinning off the cable networks into their own company owned by Comcast shareholders could “position them to take advantage of opportunities in the changing … Read more
Mike Cavanagh, president of Comcast Corporation, at center, during the Allen & Company Sun Valley Conference in Sun Valley, Idaho, July 12, 2023. David A. Grogan | CNBC Comcast is thinking about separating or spinning off NBCUniversal’s cable networks. If it moves forward with the idea, it could lay the groundwork for a reconfiguration of … Read more
SAN FRANCISCO — Apple snapped out of a recent iPhone sales slump during its summertime quarter, an early sign that its recent efforts to revive demand for its marquee product with an infusion of artificial intelligence are paying off. Sales of the iPhone totaled $46.22 billion for the July-September period, a 6% increase from the … Read more
More than 400 alleged victims and witnesses have come forward to join the growing list of sexual assault allegations against former Harrods boss Mohamed Al Fayed, lawyers in the bombshell case said on Thursday. A BBC documentary in September revealed Al Fayed, who died last year aged 94, sexually abused female staff at his famed London department … Read more
LOS ANGELES — LOS ANGELES (AP) — Amazon reported a boost in its quarterly profits Thursday and exceeded revenue estimates, sending the company’s stock up in after-hours trading. For the three months that ended on Sept. 30, the Seattle-based tech giant posted a revenue of $158.9 billion, higher than the $157.28 billion analysts had expected. … Read more
Citigroup investment bankers could see their fat cat bonuses clawed back by the US financial giant if a group of former staffers get their way. Ex-Citi executives fired off a five-page missive to the firm’s board demanding that they cancel the eye-popping payouts for hundreds of managers as part of CEO Jane Fraser’s turnaround plan, … Read more
NEW YORK — Amid the backdrop of a sales misconduct investigation and other looming legal troubles, security technology company Evolv is now firing its CEO. Evolv’s board of directors terminated chief executive Peter George on Wednesday, effective immediately, according to a Thursday announcement from the company. Michael Ellenbogen, Evolv’s current chief innovation officer, will step … Read more
Estée Lauder shares plunged more than 20% on Thursday after the cosmetics giant withdrew its full-year earnings forecast and revealed weak demand for its luxury fragrance and cosmetic products. Shares of the 78-year-old company, founded and controlled by New York’s Lauder family, on Thursday were recently off 22% at $68.03 — their lowest level in … Read more
Ford is temporarily halting production of its all-electric F-150 Lightning pickup truck in the face of slowing demand for battery-powered vehicles. The Detroit automaker announced Thursday that it would pause manufacturing of the pickup truck for several weeks beginning in mid-November. Ford employees will resume manufacturing of the F-150 on Jan. 7. The move comes … Read more
ORLANDO, Fla. — A former worker hacked servers at Walt Disney World after being fired in order to manipulate computer menus by changing prices, adding profanities and altering notifications to wrongly declare some items as safe for people with allergies, according to a federal criminal complaint. The former employee was arrested last week following an … Read more