|Bid||0.00 x 3200|
|Ask||0.00 x 4000|
|Day's Range||28.93 - 29.50|
|52 Week Range||26.26 - 45.86|
|Beta (3Y Monthly)||0.58|
|PE Ratio (TTM)||14.16|
|Earnings Date||Feb 6, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||34.64|
After testing hiding likes for users in Canada, Instagram is expanding the test to more countries after seeing "positive" results, says Instagram director Eva Chen.
(Bloomberg) -- Efforts to resolve the standoff between Qatar and a Saudi-led bloc are gathering momentum, with an upcoming soccer tournament in Doha helping to pave the way for a possible breakthrough, according to a Gulf official with knowledge of the matter.The mediation is currently focusing on mending ties between Qatar and Saudi Arabia, and will bring the United Arab Emirates on board later, the official said on condition of anonymity due to the sensitivity of the issue.Saudi Arabia, the U.A.E. and Bahrain have agreed to take part in the Gulf soccer cup in Qatar in November, more than two years after severing diplomatic and economic ties with their gas-rich Gulf neighbor. A senior Saudi official said in Washington last week that Qatar has also started taking steps to repair relations with its neighbors.As Saudi Arabia prepares for the blockbuster share sale of oil giant Saudi Aramco, signs are emerging that Crown Prince Mohammed bin Salman is trying to resolve conflicts that have cast a shadow over the kingdom’s political stability. To that end, Prince Mohammed is also intensifying efforts to conclude the four-year war in Yemen.Qatar Taking Some Steps to Resolve Tensions, Saudi Official SaysThe U.A.E., Saudi Arabia’s main ally, has already pulled out most of its troops from Yemen as it seeks to ease tensions with Iran after a string of attacks on oil targets in the region raised fears of an all-out war.The Saudi-led war in Yemen against Iranian-backed Houthi rebels and the crisis with Qatar were widely seen as signs of a more aggressive foreign policy by Prince Mohammed and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed.The two countries, joined by Bahrain and Egypt, accused Qatar of supporting terrorism and being too close to their regional rival Iran, a charge Doha repeatedly denied. Previous attempts to resolve the crisis have failed despite mediation efforts by Kuwait and the U.S..Kuwait is playing a key role in the current push, the Gulf official said. The country, which has taken a more neutral stance in the feud, had urged Saudi Arabia to participate in the games as a goodwill gesture meant to dial down the frictions.Company That Airlifted Cows to Break Saudi-led Boycott Plans IPOShortly before the the announcement, Abdulkhaleq Abdulla, an influential U.A.E. academic, hinted a breakthrough was imminent.“I bring good news to you about significant developments to resolve the Gulf dispute sooner than you think,” he said on Twitter.The tournament will be held between Nov. 24 and Dec. 6.\--With assistance from Abeer Abu Omar and Zaid Sabah.To contact the reporter on this story: Fiona MacDonald in Kuwait at firstname.lastname@example.orgTo contact the editors responsible for this story: Lin Noueihed at email@example.com, Alaa Shahine, Amy TeibelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The world’s billionaires do not have everything their own way these days. They are still rich and powerful, but they are less feted for exceptional achievement and are under pressure to pay more tax. Elizabeth ...
(Bloomberg Opinion) -- If President Donald Trump hopes to bring economic conservatives back to his side, this was the case he needed to make. In a speech Tuesday at the Economic Club of New York, he offered a strong defense of his record on both economic growth and job creation.His argument for his trade war, on the other hand, was compelling as rhetoric but utterly lacking as economic analysis.The president was at his best reminding the audience of the policy stakes. His administration has cut taxes, pursued a deregulatory agenda and encouraged the growth of the U.S. energy industry. As a result, the economy has grown far faster than economists predicted.All of this is in jeopardy if a Democrat wins the White House. Even a return to the relatively moderate policies of President Barack Obama would mean a reversal on deregulation and a long fight over the extension of the tax cuts. And while Obama pursued a pro-fracking policy, no Democratic president would in 2021.Trump was also measured in his criticism of the U.S. Federal Reserve, in marked contrast to his Twitter persona. On social media, Trump’s attacks on the Fed inflame fears about over the central bank’s independence. On Tuesday he made the more modest, and largely correct, case that the Fed was too quick to raise rates in 2018 and too slow to lower them in 2019.As for that trade war: The president admitted that it was taking a toll, but said that the strong economy gave him some room to maneuver. During the Q&A after the speech, an audience member pushed the president further on this point, noting that investment was robust in 2018 but not this year. Trump didn’t dispute the premise, instead responding that the real risk would have been to do nothing.He thus confirmed something that economic observers have long suspected — that the economy is stuck in an OK-but-not-great path because of the so-called Trump put. The theory is that the president will pursue his trade war so long as the economy is strong, but will dial back his efforts if it appears to be weakening.A less-than-stellar economy was worth it, Trump said, because the status quo was unsustainable.Economists have begrudgingly conceded that they underestimated the disruptive impact of increased trade with China. In particular, they didn’t adequately account for adjustment costs.Standard economic analysis suggests that while trade may lead to job losses in some sectors, it will lead to job growth in others. The problem is that it’s not easy for workers to switch sectors. If the economic shift is gradual, then the natural churn of older workers retiring and younger workers entering the job market will ease the transition. When the shift is rapid, however, hundreds of thousands of workers can be caught mid-career with few good options.The pressures of trade transition build over time, but they are most likely to result in mass layoffs when the economy falls into recession. This is precisely what happened during the Great Recession. Moreover, while the job market is finally tight again, the scars from that rapid transition remain.But a new trade war can’t do anything about those scars. Indeed, its likely to make them worse by causing more disruption and uncertainty in the sectors that are most exposed to international competition. This is why the very Rust Belt workers that the president says he is trying to help are suffering the most from his policies.Nonetheless, Trump doesn’t seem inclined to reverse course on trade. Rather, he is trying to sell workers on a tradeoff: Manageable pain now for better growth later. Unfortunately, this claim is at odds with the facts. His next best argument is simply to remind economic conservatives of the rest of his agenda. That’s what he did so effectively on Tuesday.To contact the author of this story: Karl W. Smith at firstname.lastname@example.orgTo contact the editor responsible for this story: Michael Newman at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Karl W. Smith is a former assistant professor of economics at the University of North Carolina's school of government and founder of the blog Modeled Behavior.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- Walt Disney Co.’s much-anticipated debut of its new streaming video service was marred by technical glitches and crashes for some users, though it still stirred excitement online.New “Star Wars” series “The Mandalorian” was trending on social media, and Twitter users cheered that they were finally able to sign up and watch Disney+ after months of well-orchestrated promotions from the Disney marketing machine.Some users reported trouble getting the app to work as soon as they tried to log on in the early hours of Tuesday morning, when the East Coast of the U.S. and Canada was waking up. Problems reported on the @DisneyPlusHelp Twitter handle ranged from “service not available” to specific issues such as “The early seasons of The Simpsons are in the wrong aspect ratio.”Disney said consumer demand for the service had exceeded its highest expectations. “While we are pleased by this incredible response, we are aware of the current user issues and are working to swiftly resolve them,” a spokeswoman said in a statement, mirroring a tweet on the help-line account.The glitches ramped up from about a hundred reported outages to more than 7,000 within the span of an hour on DownDetector.com. They dipped to about one-tenth of that by midday but were rising again in the evening New York time as consumers returning home from work tried to log on.Disney is hardly the first media company to struggle with the technical side of streaming. In 2014, HBO’s streaming service crashed during the season premiere of “Game of Thrones.” Even technology giants like Amazon and YouTube have had problems, though their glitches happened while broadcasting live sports online, which is seen as more difficult than streaming on-demand TV shows and movies. Disney bought a controlling stake in BAMTech, a leader in streaming technology, to run the back end of its online services like Disney+.Streaming services often struggle when many people try to watch at the same time, said Dan Rayburn, the principal analyst at Frost & Sullivan, who writes for the website Streamingmediablog.com. “It’s hard because of the complexity of the workflow and doing it at scale,” Rayburn said.It’s not just streaming shows smoothly, he added, but also managing the back-end database, like whether a user had paid and setting up a profile.“If in the next two or three hours everything is cleared up, it’s not that big of a deal,” he said. “If this continues throughout the day, this is a real problem.”Crowded MarketIn its quest to turn a nearly century-old entertainment giant into a streaming leader, Disney is entering a market already crowded with heavy hitters, including Netflix Inc., Amazon.com and Apple Inc. And more rivals are diving in soon, such as AT&T Inc. and Comcast Corp. next year. The world’s largest entertainment company thinks it can seize the day with a product packed with the company’s best movies and TV shows, including “Star Wars,” Marvel and Pixar films, as well as its library of some 400 children’s movies.“I feel great about what we’ve done,” Chief Executive Officer Bob Iger told a roomful of reporters last week. “I love the app. It’s rich in content. It’s rich in brands. It’s rich in library.”Priced at $7 a month, Disney+ is a bet that the company can attract as many as 90 million subscribers worldwide in five years.It already has some key allies. Some 19 million Verizon Communications Inc. customers will be able to get the service free for the first year, thanks to a deal Disney cut with the carrier. Disney fan club members, meanwhile, got to prepay for a three-year subscription for less than $4 a month.“These are deals you just can’t beat,” said Kevin Mayer, who heads Disney’s direct-to-consumer division and has helped craft the streaming strategy.Disney shares rose 1.4% to $138.58 at the close of trading Tuesday in New York.Disney is looking to make the product accessible to as many people as possible. Customers will get to store their password in as many as 10 devices per family and watch four concurrent streams of movies or shows.The site is designed around five main “tiles,” named after the company’s key brands, including Marvel and the recently acquired National Geographic channel. Disney is spending $1 billion on new programming -- such as “The Mandalorian,” the first live-action “Star Wars” series -- in the first year alone. Disney+ also will offer the “Star Wars” movies in 4K-definition video for the first time.Unlike Netflix, which releases new seasons of programs all at once. Disney+ will put out one episode per week for its original shows. The programs will come out at midnight Pacific time on Fridays -- timing geared toward attracting a global audience, according to Ricky Strauss, Disney’s head of content and marketing for the product.A key part of Disney’s streaming strategy is bundling its services together. For $12.99, subscribers can get a package that includes Disney+, ESPN+ and the ad-supported version of Hulu. Those three services would cost about $18 a month if purchased individually.It’s all coming at great cost to the company. Mayer’s direct-to-consumer division saw its losses more than double to $740 million in the quarter that ended in September. The company doesn’t expect to make a profit on Disney+ for at least five years.But the marketing blitz for the new service seems to have paid off. UBS Group AG analyst John Hodulik surveyed more than 1,000 consumers in October and found some 86% had heard of Disney+. Nearly half were likely to subscribe.The company created its largest cross-promotional push ever, putting solicitations for the new service in Disney-owned hotels and its radio network. Disney also promoted the new service on ESPN’s “Monday Night Football.” Fans watched a preview of Disney+’s new “High School Musical” spinoff on ABC on Friday.“If you haven’t heard about Disney+ by Tuesday,” Strauss said last week. “I promise you will.”Among the new originals on the show is a live-action version of “Lady and the Tramp.” Normally a remake of a classic like that would get a big premiere, a theatrical run and advertising everywhere.In the streaming era, it gets dropped on a Tuesday morning. The question now is whether the Disney magic still comes through without the Hollywood glamour.Either way, Disney doesn’t have much of a choice, said David Yoffie, a professor at Harvard Business School.“Netflix has changed the nature of the game,” Yoffie said. “If they didn’t participate, they would be left behind.”(Updates complaint reports in fifth paragraph.)\--With assistance from Brandon Kochkodin.To contact the reporters on this story: Christopher Palmeri in Los Angeles at firstname.lastname@example.org;Scott Moritz in New York at email@example.com;Gerry Smith in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
NEW YORK, NY / ACCESSWIRE / November 12, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. A class action has commenced on behalf of certain shareholders in Twitter, Inc. The filed complaint alleges that defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated Twitter's common share price and operated as a fraud or deceit on purchasers of Twitter common stock by misrepresenting the Company's operating condition and future business prospects.
LOS ANGELES, CA / ACCESSWIRE / November 11, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Twitter, Inc. ("Twitter" or "the Company") (NYSE:TWTR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between August 6, 2019 and October 23, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before December 30, 2019.
(Bloomberg) -- Hong Kong protesters called for disruption to the city’s busy commuter trains Wednesday, as clashes continued late into Tuesday evening. Police said “rioters threw bricks, petrol bombs, launched arrows and even fired a signal flare” at officers during clashes at a university.The chaos follows a flare-up in violence after Hong Kong last week saw its first fatality linked to the protests that began in June against a bill that would’ve allowed extraditions to mainland China. While the proposal has since been withdrawn, demonstrators have widened their demands to include an independent inquiry into police violence and the ability to nominate and elect their own leaders -- both of which Beijing has rejected.An intense day of clashes on Monday led to at least 260 arrests and around 100 people injured, including two critically. One man was shot by a police officer on Monday during the morning commute, while another was set on fire by protesters. Chief Executive Carrie Lam said last night the protesters wouldn’t achieve their goals through violence.Key developments:Protesters call for more disruptions to the city’s transport system on Wednesday morning.Tear gas was fired again in the heart of Hong Kong’s business and financial district as riot police confronted protesters who gathered in Central for a second day.Some subway stations were closed and schools and universities shut their doors as protests sprung up around the city.Clashes continued late into the night at the Chinese University of Hong Kong.The 21-year-old student protester who was shot and critically injured by police on Monday was formally arrested.Hong Kong Chief Executive Lam has given two press conferences in fewer than 24 hours in which she has urged an end to the disruptions and intimated that protesters will not achieve their goals through violence.District elections are still scheduled to take place on Nov. 24 in what would be the first major democratic exercise held in the city since protests began.Here’s the latest:Clashes at Chinese University (11:45 p.m.)Protests and clashes continue at multiple locations across the city including Mong Kok, Tai Po, Kowloon Tong and Tseung Kwan O. Riot police repeatedly fired tear gas to disperse demonstrators.The situation at Chinese University of Hong Kong “continues to intensify,” according to an update from the city’s police issued at 11:27 p.m. As officers were “retreating, rioters threw bricks, petrol bombs, launched arrows and even fired a signal flare” at them, according to the update.Given that the violence had reached a “deadly level” and emergency services were being hampered, police deployed a so-called Specialised Crowd Management Vehicle to “facilitate retreat.”“Police warn all rioters to stop all illegal and violent acts, and to leave immediately.”Clashes at the university appeared to subsequently abate.Police Fire Blue Dye at Students (10:29 p.m.)Police fired streams of blue dye at students congregated in the area of a bridge at Chinese University of Hong Kong, after hours of confrontations, including multiple rounds of tear gas. Students set up barricades to stop riot police from charging. A number of students were injured, including one who was suspected to have been knocked unconscious after a head injury, according to Radio Television Hong Kong.Disruptions planned for Wednesday (8:09 p.m.)Protesters called for disruptions to MTR train services starting at 6:15 a.m. on Wednesday, as the city’s busy rush hour kicks off, with people planning to board trains until at least 10:30 a.m.The calls came as clashes again escalated on the Chinese University of Hong Kong campus, with police firing tear gas and protesters and students throwing petrol bombs.Stocks eke out gains (5:33 p.m.)Hong Kong stocks rose following Monday’s $118 billion slide, despite continued unrest in the financial district. The Hang Seng Index closed up 0.5% after falling 2.6% on Monday. Citic Ltd. and Tencent Holdings Ltd. led gains. Local developers and landlords slipped after starting the session higher. The Hong Kong dollar was little changed. Monday’s tumble came after a rally in the city’s shares that had added $530 billion amid a liquidity-fueled surge in global equities.Lam’s popularity rating drops (5:11 p.m.)City leader Lam saw her popularity rating fall to just 19.5 out of 100 points, a record low across all previous Chief Executives, according to the latest survey released by the Hong Kong Public Opinion Program. That rating was down from 20.2 in a similar survey from late October, as her popularity continues to slide over months of protest.The percentage of respondents expressing confidence in Lam was unchanged, at 11%, among the 1,016 respondents polled between Nov. 1 and 8.Police detail use of force (4:37 p.m.)During the chaotic confrontations on Monday, police said they fired 255 tear gas canisters, 204 rubber bullets, 45 bean bag rounds and 96 sponge grenades.Police seek help to identify man (4:25 p.m.)Police are seeking help from the public to identify the person involved in the shocking incident on Monday in which a man was splashed with flammable liquid and set on fire, saying it amounted to attempted murder, Hong Kong senior superintendent Kong Wing-cheung told reporters. The attack happened after the man argued with protesters in a video that quickly went viral. “Over the past two days, our society has been pushed to the brink of a total breakdown,” Kong said.Protesters used bows and arrows: Police (4 p.m.)In a briefing, Hong Kong senior superintendent Kong Wing-cheung condemned protesters for brandishing bows and arrows on a university campus, and for hurling heavy objects from bridges above city roads. He said protesters could have inadvertently killed somebody, and played several videos of protester actions at the briefing that he said were dangerous. Of the 287 people arrested yesterday, 190 were students, he said.Police fire tear gas in Central (3:30 p.m.)Hong Kong police fired tear gas in the city’s financial district shortly before 4 p.m. for the second day in a row, sending protesters and bystanders running for cover. Some roads remained blocked and riot cops had cornered a group of around a dozen protesters outside the Landmark shopping mall.Police arrest student who was shot (2:15 p.m.)The 21-year-old student shot by a police officer on Monday has been arrested for unlawful assembly, according to a police official who asked not to be identified. The Monday morning shooting during city-wide protests shocked the city, setting off a surge of demonstrations that turned into one of Hong Kong’s most chaotic days yet.Protesters block roads (1:30 p.m.)Protesters occupied the city’s Central financial district, laying down roadblocks and unfurling a wall of umbrellas to shield themselves from police while others spray-painted political slogans. They were joined by hundreds of white collar office workers.Some demonstrators laid down contraptions with nails sticking out of them that seemed designed to tear into the tires of vehicles, while others shook marbles out onto the road. Riot cops amassed in large groups nearby.China urges punishment (1:25 p.m.)The behavior of “black-clad rioters” is no different from terrorism, according to a statement from the office of the commissioner of China’s foreign ministry in Hong Kong. By denouncing the Hong Kong police, politicians in the U.S. and U.K. have shown their attempt to collude with “illegal rioters,” the statement said, without naming anyone in particular. The statement said violence must stop and crimes committed by protesters need to be punished, reiterating previous remarks from the office.Protesters gather in Central (12:15 p.m.)Demonstrators blocked roads in the city’s Central business district at lunch time after calls for a “flash mob” protest circulated on social media. Hundreds of protesters, some shielding themselves from police with face masks and unfurled umbrellas, gathered outside some of the city’s luxury retail outlets. Some protesters tried to start a fire in the street outside an Armani store, but it was quickly extinguished by firefighters.Mong Kok station closed (10:15 a.m.)Transit hub Mong Kok Station is closed and trains will not stop there, operator MTR Corp. says, citing a sudden situation at the station.Lam says she wants to hold elections (10:13 a.m.)Lam sought to allay fears the city would cancel or delay district council elections Nov. 24 due to the increasing violence.“To this day, we still hope we can hold the election and try our very best to do so because it is an important election with the rights of 4 million voters to respect and safeguard,” Lam said. “But there’s an issue of safety and order, so we have to work hard to satisfy these two requirements.”The vote, a rare bastion of democracy under Beijing’s rule, has emerged as a test of the city’s commitment to democracy, and some observers think this round of protests will boost the opposition’s chances for many of the 450-odd seats up for grabs. District councilors have little political power, but they help choose electors that select the city’s top leader -- and this election is expected to set the tone for a more consequential vote for seats on the local legislature next year.Lam condemns traffic disruption (10:03 a.m.)In a regular weekly briefing on Tuesday morning, Lam called the disruption of traffic a selfish act and praised residents who volunteered to clear roadblocks set up by protesters. She said she respected everyone who went to work despite the difficult conditions, and said schools should advise students to stay away from violence and protests.Update on injuries (9:45 a.m.)Some 128 people have been injured and admitted to the hospital from recent clashes as of 7:30 a.m. on Tuesday, a spokesman for the Hospital Authority said. Two remain in critical condition.U.S. calls for dialogue (8:54 a.m.)The U.S. is watching the Hong Kong situation with “grave concern” and called on both the government and protesters to participate in dialogue, State Department spokeswoman Morgan Ortagus said in a statement. It condemned violence “on all sides.”More train services disrupted (8:48 a.m.)Service on four major subway lines that bring commuters into Hong Kong Island from Kowloon and the New Territories had either been suspended or delayed, MTR Corp. said on its website.Train passengers have been escorted onto the tracks after obstacles were found on the tracks near Sha Tin station on the East Rail Line, Cable TV reported, citing a passenger on the train.Some schools closed (8:08 a.m.)The English Schools Foundation suspended all classes on Tuesday. Many major universities were also closed.Tear gas fired (7:56 a.m.)Police fired tear gas in Kowloon Tong at protesters who threw objects at them.Rail service partially suspended (6:02 a.m.)Rail operator MTR Corp. said train service between several stations on the East Rail Line in the New Territories has been suspended “due to an escalation of the situation.” Other lines were operating with delays.Airport warns of disruption (2:00 a.m.)The Airport Authority Hong Kong warned passengers of traffic disruption on Tuesday morning and asked them to arrive early for flights.\--With assistance from Fion Li.To contact the reporters on this story: Dominic Lau in Hong Kong at firstname.lastname@example.org;Natalie Lung in Hong Kong at email@example.com;Iain Marlow in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Daniel Ten Kate at email@example.com, Karen LeighFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- It’s Disney+ launch day, the arrival of a new video app that serves as Walt Disney Co.’s official entry into the streaming wars. But while the $7-a-month service may be a perfect choice for fans of “The Avengers” and “Star Wars,” or for parents of young children, Disney knows that’s not nearly enough variety for most people. Its efforts to address that shortcoming hint at what’s next for the industry: the revival of bundles. Buzz about Disney+ has been building for some weeks, as ads for the service cropped up on Twitter, billboards and TV. What’s gotten less attention is the crucial role Hulu plays in the company’s strategy. As part of Tuesday’s launch, consumers also now have the option of getting Disney+, ESPN+ and Hulu (the on-demand version with ads) together for a rate of $13 a month, rather than paying for each app separately, which would total $18. Internally, Disney appears to be calling it the “super-bundle,” based on the image file name that was displayed on the sign-up page early Tuesday morning in place of a logo that wasn’t rendering (whoops):With the way content has been atomized — e.g., you can only stream Disney stuff on Disney+ going forward — no service on its own will provide all the shows and movies that a typical consumer wants. So as more viewers become completely reliant on streaming subscriptions, they’ll try to configure a set of apps that gets closest to imitating their ideal cable package. But that may get quite expensive. Say you want to watch “The Mandalorian” — the “Star Wars” series that’s headlining Disney+ — but you’re also a fan of Netflix’s “Stranger Things,” hooked on HBO’s “Succession” and want lots of live sports, the likes of which Google’s broadcast-channel-heavy YouTube TV service provides. That would add up to $85 a month, in addition to the price of internet access — not quite the savings one might have envisioned from canceling cable. For the media companies, this is going to lead to lots of subscriber turnover month to month, with viewers pausing one subscription in favor of another just to binge on a new season of a hit series.The pickings on Disney+ are simply too narrow to be a cable substitute. This is where Hulu comes in, and to a lesser extent, ESPN+ (which is chiefly for fans of soccer and college sports). Hulu provides some of what’s missing from Disney’s superhero and family-friendly fare, with popular originals such as “The Handmaid’s Tale,” recent episodes of “Grey’s Anatomy” and other licensed programming. While the super bundle is really just Disney+ and Hulu throwing in ESPN+ for free, it's strategically priced at the same rate as Netflix and provides insight into Disney's thinking.Disney won’t be alone in looking for ways to bundle services for customers. HBO Max, the streaming app that AT&T Inc. is introducing in May 2020, is effectively a $15 bundle of HBO, content from sister networks such as TBS, the “Friends” and “Big Bang Theory” franchises and Warner Bros. films (all for the same price as HBO on its own). Apple Channels, where users can sign up for third-party services such as CBS All Access and Starz using their Apple ID, at least allows users to consolidate their payments to a single company, but it doesn’t provide discounts for doing so. For cable giants Comcast Corp. and Charter Communications Inc., negotiating with programmers to structure discounted streaming-app bundles would be a natural evolution of their businesses.So much of the focus of the streaming wars has been on trying to pick the winner, or who will be the true Netflix killer. In fact, Netflix and Disney may control 60% of the U.S. streaming-video market by 2024, according to Geetha Ranganathan, an analyst for Bloomberg Intelligence. Most people wouldn’t want to see the streaming marketplace go the way of the box office — where Disney’s Marvel movies and animated features are the overwhelming majority. (And Netflix isn’t exactly known for the highest-quality menu.) Bundles that include broader arrays of content from different sources offer a better shot at sustained competition, and that sounds awfully better than a world in which all Hollywood’s creative decisions rest in the hands of just a few giants.It’s time to bundle up.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg Opinion) -- Nikki Haley, President Donald Trump’s former ambassador to the United Nations, has made news twice during her book tour. She has said that Trump should not be impeached “for asking for a favor that didn’t happen” and for holding up aid that was eventually delivered to Ukraine. And she has said that former administration officials Rex Tillerson and John Kelly asked her to join them in resisting the president from within. She says she rejected the idea because it would have meant subverting the Constitution.In both cases, Haley disappointed opponents of Trump who had hoped, or imagined, that she was one of them. Her remarks show that she has thrown in her lot with the president. But there is a tension between her comments, and it mirrors the tension of working in this administration.On the one hand, Haley insists that it’s a constitutional duty for the president’s will to be followed. On the other hand, it’s a constitutional excuse for him that his will wasn’t followed. When Kelly, who served as chief of staff, and Tillerson, Trump’s first secretary of state, second-guess the president, they are usurping power our Constitution gave him. But when the president issues a command, sometimes it’s really more of a suggestion.Trump’s underlings have certainly been willing to treat his wishes as idle talk before, and sometimes even to defy him. Their insubordination has kept Trump out of trouble before, too. As the report from special prosecutor Robert Mueller detailed, former White House counsel Don McGahn refused to fire Mueller when Trump directed him to do so. If McGahn had obeyed, Trump would likely have faced an earlier and more bipartisan impeachment.Was McGahn, by Haley’s standards, serving Trump or undermining him? What about the reports that Trump has sometimes urged aides to break laws and promised to pardon them afterward? The aides decided to treat those remarks as a “joke.” Assuming Haley believes these reports, were these aides, too, acting illegitimately?One way of trying to get around this dilemma would be to assume that some presidential directives are serious and others are just venting or jesting. Haley has gestured toward this possibility, telling the Washington Post that “there was no heavy demand insisting that something had to happen” when Trump asked for a Ukrainian investigation of former Vice President Joe Biden and his son, Hunter. As far as we can tell from what Haley has told us, though, Kelly and Tillerson may have had the same idea. Maybe they just wanted officials to err on the side of construing Trump’s orders as “light” demands.Haley is right to be uncomfortable about presidential aides seeing themselves as checks on their boss. She’s right, too, that defiance raises a constitutional concern. Article II vests executive power in the president, not in his aides. The aides, who were not elected, have to be accountable to the president who was. It can’t be the other way around.But this president has chosen, or defaulted to, a different mode of governance. He either tolerates a high degree of insubordination or has not figured out a way of squelching it. When his appointees anger him, he often vents about it on Twitter instead of firing them.No wonder Haley’s remarks sound so dissonant. The president has created a working environment in which either following his orders or not following them is a threat to the proper functioning of the government. Even the most highly accomplished diplomat could not resolve this tension, which may help explain why Haley, like Tillerson and Kelly, is no longer in the Trump administration.To contact the author of this story: Ramesh Ponnuru at firstname.lastname@example.orgTo contact the editor responsible for this story: Tobin Harshaw at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Ramesh Ponnuru is a Bloomberg Opinion columnist. He is a senior editor at National Review, visiting fellow at the American Enterprise Institute and contributor to CBS News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- Apple Inc. pitches its new card as a model of simplicity and transparency, upending everything consumers think about credit cards.But for the card’s overseers at Goldman Sachs Group Inc., it’s creating the same headaches that have bedeviled an industry the companies had hoped to disrupt.Social media postings in recent days by a tech entrepreneur and Apple co-founder Steve Wozniak complaining about unequal treatment of their wives ignited a firestorm that’s engulfed the two giants of Silicon Valley and Wall Street, casting a pall over what the companies had claimed was the most successful launch of a credit card ever.Goldman has said it’s done nothing wrong. There’s been no evidence that the bank, which decides who gets an Apple Card and how much they can borrow, intentionally discriminated against women. But that may be the point, according to critics. The complex models that guide its lending decisions may inadvertently produce results that disadvantage certain groups.The problem -- in Washington it’s referred to as “disparate impact” -- is one the financial industry has spent years trying to address. The increasing use of algorithms in lending decisions has sharpened the years-long debate, as consumer advocates, armed with what they claim is supporting research, are pushing regulators and companies to rethink whether models are only entrenching discrimination that algorithm-driven lending is meant to stamp out.“Because machines can treat similarly-situated people and objects differently, research is starting to reveal some troubling examples in which the reality of algorithmic decision-making falls short of our expectations, or is simply wrong,” Nicol Turner Lee, a fellow at the Center for Technology Innovation at the Brookings Institution, recently told Congress.Wozniak and David Heinemeier Hansson said on Twitter that their wives were given significantly lower limits on their Apple Cards, despite sharing finances and filing joint tax returns. Wozniak said he and his wife report the same income and have a joint bank account, which should mean that lenders view them as equals.One reason Goldman has become a poster child for the issue is that the Apple Card, unlike much of the industry, doesn’t let households share accounts. That could lead to family members getting significantly different credit limits. Goldman says it’s considering offering the option.The bank said in a tweet it would also re-evaluate credit decisions if the borrowing limit is lower than the customer expected.“We have not and never will make decisions based on factors like gender,” the company said. “In fact, we do not know your gender or marital status during the Apple Card application process.”With this month’s snafu, Goldman has found itself in the middle of one of the thorniest laws in finance: the Equal Credit Opportunity Act. The 1974 law prohibits lenders from considering sex or marital status and was later expanded to prohibit discrimination based on other factors including race, color, religion, national origin and whether a borrower receives public assistance.The issue gained national prominence in the 1970s when Jorie Lueloff Friedman, a prominent Chicago television anchor, began reporting on her own experience with losing access to some of her credit card accounts at local retailers after she married her husband, who was unemployed at the time. She ultimately testified before Congress, saying “in the eyes of a credit department, it seems, women cease to exist and become non-persons when they get married.”FTC WarningA 2016 study by credit reporting agency Experian found that women had higher credit scores, less debt, and a lower rate of late mortgage payments than men. Still, the Federal Trade Commission has warned that women may continue to face difficulties in getting credit.Freddy Kelly, chief executive officer of Credit Kudos, a London-based credit scoring startup, pointed to the gender pay gap, where women are typically paid less than men for performing the same job, as one reason lenders may be stingy with how much they let women borrow.Using complex algorithms that take into account hundreds of variables should lead to more just outcomes than relying on error-prone loan officers who may harbor biases against certain groups, proponents say.“It’s hard for humans to manually identify these characteristics that would make someone more creditworthy,” said Paul Gu, co-founder of Upstart Network Inc., a tech firm that uses artificial intelligence to help banks make loans.Upstart uses borrowers’ educational backgrounds to make lending decisions, which could run afoul of federal law. In 2017, the Consumer Financial Protection Bureau told the company it wouldn’t be penalized as part of an ongoing push to understand how lenders use non-traditional data for credit decisions.AI PushConsumer advocates reckon that outsourcing decision-making to computers could ultimately result in unfair lending practices, according to a June memorandum prepared by Democratic congressional aides working for the House Financial Services Committee. The memo cited studies that suggest algorithmic underwriting can result in discrimination, such as one that found black and Latino borrowers were charged more for home mortgages.Linda Lacewell, the superintendent of the New York Department of Financial Services, which launched an investigation into Goldman’s credit card practices, described algorithms in a Bloomberg Television interview as a “black box.” Wozniak and Hansson said they struggled to get someone on the phone to explain the decision.“Algorithms are not only nonpublic, they are actually treated as proprietary trade secrets by many companies,” Rohit Chopra, an FTC commissioner, said last month. “To make matters worse, machine learning means that algorithms can evolve in real time with no paper trail on the data, inputs, or equations used to develop a prediction.“Victims of discriminatory algorithms seldom if ever know they have been victimized,” Chopra said.(Updates with Goldman comments in ninth and 10th paragraphs.)To contact the reporters on this story: Shahien Nasiripour in New York at firstname.lastname@example.org;Jenny Surane in New York at email@example.com;Sridhar Natarajan in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Michael J. Moore at email@example.com, Steve Dickson, Daniel TaubFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Isolated bushfires broke out in Sydney on Tuesday, fanned by strong winds and soaring temperatures as Australia’s largest city faced its first ever “catastrophic” fire danger.Authorities battled a blaze in the affluent neighborhood of South Turramurra, just 20 kilometers (12 miles) north of the CBD, before a plane brought it under control by dumping red fire retardant. A handful of other fires broke out in other suburbs of the city, which is dotted with national parks and bushland, shrouding the skyline with an acrid smoke haze.More than 70 wildfires are burning across New South Wales state, devastating rural areas left tinderbox dry by a two-year drought. Three people have been killed and more than 150 homes destroyed in the state in recent days -- a disastrously early start to the nation’s bushfire season considering summer has not even begun.A southerly wind swept through Sydney on Tuesday evening, lowering temperatures that had reached 37 degrees Celsius (98.6 degrees Fahrenheit). As the winds progress up the coast through the night, they’re expected to make conditions even more hazardous as they shift the direction of the fire fronts.Authorities issued multiple emergency warnings for fires threatening rural communities north of Sydney, and said in some instances it may be too late for residents to safely leave. More than 3,000 firefighters were deployed or on standby across the state and hundreds of schools were closed as a precaution.Australia is the world’s driest inhabited continent and is considered one of the most vulnerable developed countries to global warming. According to the weather bureau, climate change is influencing the frequency and severity of dangerous bushfire conditions, with the season starting earlier in spring in southern and eastern parts of Australia.The fires come amid increasing divisions about climate change policy in Australia, with the conservative government resisting scientists’ calls to take greater action to reduce carbon emissions.It’s the first time authorities have set the highest warning level for Sydney since the fire-danger rating system was introduced a decade ago. The level has been downgraded three notches to “Very High” on Wednesday.The city has experienced wildfires in the past, with dozens of homes destroyed in suburbs around national parks in 1994. In 2013, bushfires in New South Wales destroyed more than 200 homes, including many in the Blue Mountains to the west of Sydney.The nation’s most devastating fires, the so-called Black Saturday blazes in Victoria state in February 2009, caused 180 fatalities.\--With assistance from Hannah Dormido.To contact the reporter on this story: Edward Johnson in Sydney at firstname.lastname@example.orgTo contact the editors responsible for this story: Edward Johnson at email@example.com, Angus WhitleyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
China is thus on the way to supplanting the US as the global hegemon, creating a different world as a result. Mr Pillsbury is one of the most influential American thinkers on US-China relations. On one central point Mr Pillsbury is certainly right: China’s rise is the great political event of our times.
Speaking at a conference in Dubai last week, I was struck by the ubiquity, confidence and fluency of non-native English speakers. A recent study looked at what happened when a Chilean engineering company, the subsidiary of a US group, changed its corporate language from Spanish to English.
Mr Morales’ whereabouts had been unclear on Monday amid reports that he had taken refuge in the coca-growing region of El Chapare, his political stronghold. Marcelo Ebrard, Mexico’s foreign minister, posted a picture of Mr Morales on the Mexican military plane, holding a Mexican flag.
(Bloomberg) -- Uber Technologies Inc. Chief Executive Officer Dara Khosrowshahi said in an interview on the television show “Axios on HBO” that the murder of journalist Jamal Khashoggi was “a mistake” by the Saudi Arabian government, and compared it to Uber’s accident with a self-driving car that killed a woman.In the interview that aired Sunday, Khosrowshahi said, “It doesn’t mean they can never be forgiven.” The CEO backtracked in a follow-up statement sent to Axios after the interview, saying: “I said something in the moment that I don’t believe.” He called Khashoggi’s murder “reprehensible” and said it “should not be forgotten.”The remarks set off calls for customers to protest the ride-hailing service. The hashtag BoycottUber was trending on Twitter in the U.S. Monday. The response is drawing parallels to a politically motivated boycott from 2017, when Uber’s perceived support of President Donald Trump and his immigration policies led to a DeleteUber campaign. More than 200,000 people removed the app during that movement.Khosrowshahi’s comments came during a discussion about Uber’s relationship with Saudi Arabia, which is the ride-hailing car company’s fifth-largest investor. The Axios interviewer, Mike Allen, asked if Yasir Othman Al-Rumayyan, who heads Saudi Arabia’s Public Investment Fund, should be allowed to remain on Uber’s board. Khosrowshahi called Al-Rumayyan a “very constructive” board member who provides valuable input.As the interview continued, the discussion turned to the Saudi government’s role in Khashoggi’s gruesome murder at the Saudi consulate in Istanbul last year. “I think that the government said they made a mistake,” Khosrowshahi said. “It’s a serious mistake. We’ve made mistakes too with self driving and we stopped driving and we’re recovering from that mistake. So I think that people make mistakes, it doesn’t mean that they can never be forgiven.”In March 2018 one of Uber’s cars testing autonomous driving software struck and killed a 49-year-old woman in Tempe, Arizona, as she was crossing the road. Uber paused tests of all its self-driving vehicles after the incident.(Update with Twitter hashtag in the third paragraph.)To contact the reporter on this story: Molly Schuetz in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Mark Milian, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- John Legere may be exactly the kind of CEO WeWork needs. He brings much of the eccentricity and charisma that was initially appreciated about ousted founder Adam Neumann, but without all the headaches and liabilities. Is Legere ready to retire his closet of magenta T-shirts? We Co., the parent of the beleaguered office-sharing startup, is in discussions to recruit Legere, the current head of wireless carrier T-Mobile US Inc., as its next CEO, the Wall Street Journal reported on Monday. The talks come after WeWork’s plans for an initial public offering imploded in grand fashion in recent weeks, as a litany of questionable decisions and conflicts of interests involving then-CEO Neumann came to light in a saga that has captivated Wall Street. WeWork, for a short time one of the world’s most valuable startups, had said in its summer IPO prospectus that its “future success depends in large part on the continued service of Adam Neumann.” Weeks later, Neumann was considered such a risk that the company decided it was better to effectively give him $1.2 billion to step away.Hiring Legere would immediately help improve WeWork’s tarnished reputation, though repairing the business is another story. Office vacancies increased in the third quarter, and the company was at risk of running out of cash next year. Legere’s garish style and hectoring on Twitter may also cause some to wonder whether he’s just another Neumann; it’s certainly hard not to notice the physical resemblance between the long hair, loud personality and signature T-shirt-and-sports-coat pairing.But few CEOs can say they’ve taken on a challenge as difficult as reviving T-Mobile — and succeeded. That’s Legere’s claim to fame. As I wrote in July 2018, even the groaners who are tired of his shtick and Twitter snark can’t argue against his track record.When Legere became CEO of T-Mobile in 2012, it was a distant fourth-place competitor in the U.S. wireless market and losing customers. Now it’s the fastest-growing member of the industry, and its displaced Sprint as the No. 3 carrier. T-Mobile’s lower-priced plans and marketing mojo have even given AT&T Inc. and Verizon Communications Inc. a run for their money. In the last five years, shares of all its closest rivals advanced anywhere from 12% to 21%. T-Mobile’s nearly tripled. Legere may seem like an odd choice given that he’s spent his career working in the telecommunications and technology industries. The connection becomes clearer when considering SoftBank Group Corp.’s role. The Japanese conglomerate built by billionaire Masayoshi Son not only controls WeWork — the result of a $9.5 billion rescue package — but also Sprint Corp., T-Mobile’s closest competitor and hopeful merger partner. Sprint Executive Chairman Marcelo Claure, who is also chief operating officer of SoftBank, was tapped to help fix WeWork’s problems. He’s spent a lot of time with Legere these last two years as they worked to sway federal and state officials to support the merger of the two wireless carriers. Legere has done with T-Mobile what Claure and his predecessors couldn’t with Sprint, even as SoftBank injected billions along the way. One might think that WeWork would seek out a lower-profile leader, given the roller-coaster it has been on the past few months; Legere is anything but that. And at 61 years old, it’s a little surprising that he would consider following up such a successful run at T-Mobile with a stint at a company as troubled as WeWork. T-Mobile has become part of his identity — he’s spotted in magenta T-Mobile gear whether he’s going for runs in New York City or filming his Facebook Live cooking show from his kitchen. T-Mobile shareholders wouldn't be happy to see Legere go. Worse, there's the appearance of a conflict of interest if SoftBank is pursuing Legere while the companies are separately renegotiating the terms of the Sprint merger.That aside, it’s clear that Legere likes a challenge, and WeWork is the ultimate one.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
The spokeswoman said the suspension occurred between late Saturday night and Sunday morning, and that the ministry had alerted Twitter to its loss of access and requested an explanation. A Twitter spokeswoman said the suspension was reversed and that a notice was sent to the account via email.
NEW YORK, NY / ACCESSWIRE / November 11, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. To determine ...
(Bloomberg) -- WeWork is searching for a new chief executive officer to turn around the troubled co-working company, said people familiar with the matter. The candidates include T-Mobile US Inc. head John Legere, who has spoken with WeWork about the role, said the people, who asked not to be identified because the discussions are private.Legere has deep ties to WeWork majority shareholder SoftBank Group Corp., which took ownership of the company after WeWork’s initial public offering broke down. Legere is currently pushing for a contentious merger of his wireless carrier with Sprint Corp., whose majority owner is SoftBank. Sprint’s executive chairman, Marcelo Claure, was recently appointed to the same position at WeWork.But people familiar with the CEO search stressed that WeWork intends to consider many candidates. Although Legere breathed new life into T-Mobile, he has an unpredictable and antagonistic public persona, reflected on his Twitter profile and in conference appearances. He’s also another man, in a company so saturated with male management that Claure has promised to increase diversity.Representatives for SoftBank, T-Mobile and WeWork parent company We Co. declined to comment. The discussions with Legere were reported earlier Monday by the Wall Street Journal. Shares of T-Mobile fell about 2% in intraday trading, while Sprint is down 3%.Adam Neumann, the former WeWork CEO, stepped down in September under pressure from investors over apparent conflicts of interest and mismanagement of the IPO process. Two WeWork executives, Artie Minson and Sebastian Gunningham, took over as co-CEOs. The pair secured multimillion-dollar severance packages with the board last month.Despite getting rescue financing from SoftBank a couple weeks ago, WeWork needs to quickly rehabilitate the business and fill empty space in its offices. The company is expected to soon dismiss thousands of employees.Legere and Claure, a SoftBank executive tasked with cleaning up WeWork, have occasionally sparred in the past. Claure, the former CEO of Sprint, was a T-Mobile antagonist before becoming a potential merger partner. In 2016, he called Legere “a con artist” on Twitter. At one point, Legere told Claure to “go back to the kiddie pool.” But more recently, the two executives have appeared friendlier as they argue in favor of the Sprint-T-Mobile tie-up. In May, they were spotted jogging together in Washington.Meanwhile, Neumann is exploring a potential next act with help from the money he got in his exit from WeWork. He considered investing in Barneys New York Inc. during the luxury department store’s recent bankruptcy, people with knowledge of the matter said Monday.(Updates with shares in the fourth paragraph.)\--With assistance from Gillian Tan and Scott Moritz.To contact the reporters on this story: Sarah McBride in San Francisco at firstname.lastname@example.org;Ellen Huet in San Francisco at email@example.comTo contact the editors responsible for this story: Mark Milian at firstname.lastname@example.org, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Twitter's new proposal, laid out in a blog post, said it might place a notice next to tweets sharing "synthetic or manipulated media," warn people before they like or share such tweets, or add a link to a news story showing why various sources think the media is synthetic or manipulated. Twitter last year banned deepfakes in the context of intimate media: its policy prohibits images or videos that digitally manipulate an individual's face onto another person's nude body. In July, U.S. House of Representatives Intelligence Committee Chairman Adam Schiff wrote to the CEOs of Facebook, Twitter and Alphabet Inc's Google asking for the companies' plans to handle the threat of deepfake images and videos ahead of the 2020 elections.
LOS ANGELES, CA / ACCESSWIRE / November 11, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Twitter, Inc. ("Twitter" or "the Company") (NYSE:TWTR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between August 6, 2019 and October 23, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before December 30, 2019.
Wozniak says his Apple Card limit is 10 times higher than his wife’s, despite their finances being identical.