WGA East-represented news writers and producers at HuffPost have ratified a new three-year contract. According to the guild, the pact was approved unanimously by the 91-member bargaining unit employed at the online news site. A deal on the new contract was reached on February 1, and a strike averted, after 98% of the writers and editors signed a pledge vowing […]

Health services company Cigna Corp. reported Friday higher profit in its fourth quarter reflecting growth in both Evernorth and Cigna Healthcare segments. Adjusted earnings and topline beat market estimates. Looking ahead for fiscal 2023, the company projects adjusted earnings and adjusted revenues to be higher than last year, but below market view. In pre-market activity on the NYSE, Cigna shares […]

UPDATED, 4:35 PM: Donald Trump’s Facebook and Instagram accounts have been reinstated, Meta said today. The news comes two weeks after the social media company said it was going to bring the former president back to the platforms and more than two years after he was suspended indefinitely. Read more details below. PREVIOUSLY, January 25: Meta said on Wednesday that […]

Rupert Murdoch’s News Corp., home to media properties including the Wall Street Journal, Dow Jones and HarperCollins, announced as it released disappointing quarterly results that it is laying off 5% of its workforce. The company reported revenue of $2.52 billion, a shade below Wall Street analysts’ consensus expectation for $2.55 billion, according to Refinitiv. Earnings per share missed by a […]

Disney shares slid into red numbers Thursday after jumping 5% earlier in the day on the news that activist investor Nelson Peltz has ended his proxy fight with the company. The stock finished at $110.22 on more than triple its normal trading volume. Disney shares have nevertheless risen 24% in 2023 to date, reflecting continued optimism about the company’s prospects […]

Stocks moved mostly higher during trading on Thursday, extending the rally seen late in the previous session. Tech stocks helped lead the advance, resulting in a substantial increase by the Nasdaq. The tech-heavy Nasdaq soared 384.50 points or 3.3 percent to a nearly five-month closing high of 12,200.82, while the S&P 500 jumped 60.55 points or 1.5 percent to 4,179.76, […]

Walt Disney Co. announced plans to cut 7,000 jobs worldwide as part of its restructuring efforts to save billions in costs. The planned layoffs represent around 3.6 percent of Disney’s global workforce. Chief Executive Officer Bob Iger, during the company’s first-quarter earnings call, said the restructuring would help the firm save $5.5 billion in costs. With the planned cost-cutting initiatives, […]

Asian shares edged higher on Thursday after the U.S. Federal Reserve said the “disinflationary process has started” but “ongoing increases” in interest rates will be needed to curb price pressures. Fed Chair Jerome Powell’s dovish comments in a press conference stoked expectations that the Fed might start cutting rates before 2024. Both the European Central Bank and the Bank of […]

At its third annual developer conference on Wednesday, NBCUniversal introduced a range of new products and capabilities aimed at enhancing the media company’s appeal to advertisers. Among them: a new “content quality index” partnership with MarketCast; an expansion of in-scene advertising capabilities; and the certification of 29 new measurement partners. The One23 event in New York is named after NBCU’s […]