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Netflix Inc said slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter, sending shares of the world's largest streaming service down 11% on Tuesday.
NEW YORK: Technology-related shares sold off on Monday in a big downturn that pushed the Nasdaq into corrective territory and offset stocks that rose on hopes the US$1.9 trillion COVID-19 relief bill will spur the U.S. economy.
Concerns could make investors more risk-averse
NEW YORK: As the trading frenzy in GameStop Corp shares and other social media favorites recedes, investors are eyeing signs of potential market stress that could weigh on broader stock performance in coming weeks.
LOS ANGELES: Plans may be afoot for the launch of streaming service Disney Plus in Malaysia. In the past few days verified accounts for the service appeared on Facebook and Instagram, though the Facebook one was subsequently taken offline.
BURBANK: Walt Disney Co executive chairman Bob Iger (pic) saw his pay decline 56% to US$21mil last year, after the company curtailed bonuses and other compensation in the wake of the pandemic.
LONDON: Saudi Crown Prince Mohammed bin Salman said the kingdom offers investment opportunities worth $6 trillion over the next decade, with new projects representing half of this value, the state news agency reported, citing his speech at the World Economic Forum on Wednesday.
MUMBAI: Mukesh Ambani spent much of 2020 convincing Facebook Inc., Google and a clutch of Wall Street heavyweights to buy into his vision for one of the world’s most ambitious corporate transformations.
WASHINGTON: U.S. employers likely hired the fewest workers in six months in November, hindered by a resurgence in new COVID-19 cases that, together with a lack of more government relief money, threatens to reverse the recovery from the pandemic recession.