Comments on the call, disney ceo bob igor stressing that the lower than expected results on the quarter are results of the big changes he implemented at the company, both foxs acquisition and disneys pivot to embrace the direct to consumer business theyre investing in right now igor Just Announced consumers will be able to subscribe to a bundle of their services for 12. 99, they will get hulu, espn and disney plus, worth noting it is the same cost as netflix. Take a listen to his comment here. Our results reflect our efforts to integrate the assets, businesses and talent we acquired in order to enhance and advance our Strategic Transformation implementation of the integration plan is well under way. A complex process given the magnitude of the endeavor, and we remain confident in our ability to successfully execute our strategy reporter cfo Christine Mccarthy saying that the acquisition of 21st century fox and taking control of hulu will have a dilutive impact on the fiscal First Quart
Hour the major averages have been Holding Steady on light trading. It is a holiday shortened week the dow transport setting another record high. Oil moving big crude and brent crude. Apple shares taking a hit down more than 2 thats the biggest drag on the dow. Reports of iphone x sales are slowing. Mallinckrodt up. Intel down intel will lose the crown as the number one chip maker for the first time in 21 years to samsung. Amazon saying it had its biggest season ever. The echo dot the top selling product across the categories and many factors we begin with retail the day after christmas is one of the biggest for returns. Kate rodgers checking out all the deals in west nyack, new york reporter retailers definitely have something to cheer about. New data out from master card showing that retail sales from november 1 gs through Christmas Eve were up 5 that is the fastest pace since 2011 ecommerce grew by around 18 overall the National Retail Federation Said sales are set to be around 682 b
They still have to vote on final passage of the bill, then it will go to the house im told to expect that 4 00, 4 30, somewhere in that range. Then the president will have to sign it. The white house said expect that Late Afternoon early evening but there are already restarting talks on immigration even before the passage is final of that bill senator john cornyn, the number two republican in the senate, just told a bunch of reporters that he had a meeting at the white house on immigration with other senators like senator cotton, perdue, langford and grassley they were informing the president about what they thought could actually pass the senate on a bipartisan basis they said they put to bed Graham Durbin, which was the preexisting bipartisan framework in the senate and trying to work on what comes next this immigration debate is heating up as we now look towards the new deadline in three weeks. Not only do you have that debate, which will be exceedingly contentious in both chambers
Business news live from singapore. Is the wild ride over or is itjust the beginning . We find out where the Global Markets may end after the volatility of last week. And and enduring sports legacy. We find out about triathlons plans for asia. Its monday, everyone. Good morning, asia. Hello, world. Thank you for joining us for this edition of Asia Business report. We begin the programme with the asian markets that are offered from heavy selling last week following volatility on wall street. We had the bench mark indices injapan, hong kong and shanghai falling at least 10 from recent highs. Chinese equities in particular were under pressure, partly due to the weakening of their currency. Should we be bracing ourselves for another wild ride this week . I asked that question earlier. Investors seem to be responding to increased expectation that in flirtation will pick up inflation will pick up. The strength that we are seeing in Global Economy that is driving market and as we may be in the
Powered by more than 27 journalists and analysts in more than 120 countries. I am Alisa Parenti. This is bloomberg. Bloomberg technology is next. Caroline i am caroline hyde. This is Bloomberg Technology from london. Coming up, the tech selloff goes global. Investors weighing the sectors biggest names. We will analyze every turn of the worst two days contact this year. Uber ousts its head of business. We have the inside track on the surprise exit. He joins us at the launch of london tech week for a bloomberg exclusive. Lead, stocks follow around the globe led lower by tech shares. Biggeste, it had the decline in almost a year since june 27 of 2016. The slide continued in the united states. Some of the largest firms posted the biggest declines including apple, netflix, and alphabetic. Oliver renick joins us from new york. You my firstbring one. I am digging into the terminal. 9317. I am looking at the slump in european stocks, down 3. 6 . Im looking at the slump in the u. S. Nasdaq in t