BUSINESS

DISNEY TO ANNOUNCE BOB IGER'S SUCCESSOR IN EARLY 2026 WITH JAMES GORMAN TAKING OVER AS BOARD CHAIR IN 2025

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The Walt Disney Company revealed Monday its timeline for naming CEO Bob Iger's successor, pushing the anticipated announcement to early 2026 – later than the company's initial 2025 target. The media giant simultaneously announced that James Gorman, former Morgan Stanley CEO, will assume the role of board chairman in January.

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EVS AIM TO REVIVE SALES AT PARIS MOTOR SHOW

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European and Chinese automakers showcased their electric vehicles at the Paris Motor Show on Monday, aiming to make them more affordable for the general public amid declining sales in various markets.

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META FIRES STAFF FOR ABUSING $25 MEAL VOUCHERS AMID RESTRUCTURING PUSH: NON-FOOD PURCHASES LEAD TO DISMISSALS

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Meta has dismissed approximately 24 employees from its Los Angeles office for misappropriating meal credits intended for workplace dining. The technology giant, valued at £1.2 trillion, took action following an internal investigation that revealed systematic abuse of its daily meal allowance program.

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EU INVESTIGATES TEMU OVER POTENTIAL ILLEGAL PRODUCT SALES

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On Friday, the European Union instructed the Chinese-founded e-commerce platform Temu to provide additional information, expressing concerns that the site may not be doing enough to prevent the sale of illegal products.

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AMAZON INVESTS ON NUCLEAR POWER TO FUEL AI AMBITIONS

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Amazon announced significant investments in nuclear energy on Wednesday, joining other tech giants in aiming to meet the high electric power demands of cloud computing and artificial intelligence using atomic energy.

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JPMORGAN AND WELLS FARGO BEAT PROFIT ESTIMATES: INVESTMENT BANKING GAINS AND SHRINKING PROVISIONS DRIVE SHARES HIGHER

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Industry titans JPMorgan Chase and Wells Fargo exceeded third-quarter profit forecasts, showcasing resilience amid economic uncertainties. JPMorgan's shares surged 5% as investment banking revenues outperformed expectations, jumping 31% against management's projected 15% growth.

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BOEING SEEKS $10 BILLION IN NEW SHARES AMID CASH STRAIN AND ONGOING STRIKE

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In a play to shore up its financial position, Boeing has announced plans to raise up to $25 billion through debt or stock offerings, while securing a $10 billion credit line from major banks. This strategic decision comes as the aerospace giant grapples with a perfect storm of production issues, a prolonged strike, and market uncertainties.

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BOEING WITHDRAWS 30% PAY OFFER AS STRIKE IMPASSE EXTENDS INTO FOURTH WEEK DEEPENING FINANCIAL STRAIN

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Boeing has withdrawn its contract offer to approximately 33,000 striking factory workers after negotiations reached an impasse. The strike, now entering its fourth week, shows no signs of resolution as both sides remain firmly entrenched in their positions.

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