May 23, 2023

Apple Signs Multibillion-Dollar Deal With Broadcom for 5G Parts Toyota Shares Plunge in Final Minute of Tokyo Trading Disney Faces ‘Very Rushed’ Search for Iger Successor, Peter Chernin Says Shutterstock to Buy Meta’s Giphy for $53 Million on UK Antitrust Order Georg Fischer Said to Weigh Bid for Uponor, Vying With Aliaxis Egypt Races to Solve Currency Dilemma in Hunt for Gulf, IMF Cash Netherlands to Hold 3M Liable for ‘Forever Chemicals’ Pollution Citizens Financial to Pay $9 Million to Settle Consumer-Protection Lawsuit Europe Seeks to Speed Up F-16 Training for Ukrainian Pilots AI Startup Anthropic Raises $450 Million for Safety-Focused Chatbot Boeing CEO Warns Supply-Chain Constraints Could Last ‘Very Long Time’ Bets Against Turkish Lira Hit Record With Controls Under Strain Peloton Revamps Workout App with Free and Pricier Tiers in Services Push Saudi Oil Minister Tells Speculators to ‘Watch Out’: Qatar Forum Wealth Fund QIA Joins SoftBank, BlackRock in Private Credit Push Worries Over Big Tech Driving Stock Rally Are Overblown, BofA’s Subramanian Says Climate Activist Choir Tells Shell Board to ‘Go to Hell’ in Song South African Defense Minister Insists No Arms Shipped to Russia US Business Activity Unexpectedly Quickens to a 13-Month High Saudi Oil Minister Tells Speculators to ‘Watch Out’: Qatar Forum Worries Over Big Tech Driving Stock Rally Are Overblown, BofA’s Subramanian Says Climate Activist Choir Tells Shell Board to ‘Go to Hell’ in Song Oil gains as market absorbs Saudi warning to short sellers Russian Nuclear Reactor on Kola Peninsula Automatically Trips Cut Stocks, Buy Gold, Hold Your Cash, JPMorgan’s Kolanovic Says Italy Cabinet Approves €2 Billion in Aid to Flood-Hit Areas Eskom Latest: Bigger Power Cuts for Longer; Netcare Costs Surge Germany’s EON to Set up New European Gas and Power Trading Unit Nigeria Bourse Plans Commodities Growth in Seven African Nations Tullow Faces Further Setback in Kenya as Total, Africa Oil Quit Ukraine Can’t Win War Against Russia, Hungarian Premier Says Russian Prime Minister Starts China Visit in Sign of Strong Ties JPMorgan Spends $20 Million to Suck Carbon From the Sky California Advances Bill Banning Hedge Fund Water Profiteering UK Energy Suppliers Falling Behind on Women Board Members Total’s Mozambique Funding Signals Possible LNG Project Restart GQG’s Jain Raises Adani Stake by About 10% for $3.5 Billion Bet Sunak Warns Against ‘Blanket’ Protectionism to Counter China The Daily Chase: Markets point to negative open; Air Canada shows strong start to travel season Powell says tighter credit could mean a lower peak in rates Another interest rate hike? Economists divided on Bank of Canada's next step Statistics Canada reports retail sales down 1.4% in March, but core sales up 0.3% Death of the password coming as passkey technology on brink of consumer adoption The Daily Chase: WestJet avoids strike; Scotiabank forecasts interest rate hike ahead Major reforms to air passenger rights needed, says House committee report Bank of Canada sees financial stress rising among homebuyers ​Canada's housing market is taking the brunt of rate hikes: Expert Bank of Canada governor holds news conference on Financial System Review The Daily Chase: BoC to release Financial System Review; WestJet prepares for possible strike TSX recap: Index posts small gain on energy stock strength TSX recap: Index finishes 1.45% lower amid losses in energy, financial stocks Demand grows in Canada for short-term fixed-rate mortgages The Daily Chase: Markets point to positive open; Target signals slowdown ahead Passenger rights overhaul draws criticism from both sides — airlines and advocates Citi's Clark says inflation cements her outlier call for June rate hike in Canada Growing number of Canadians rely on credit cards to pay for essentials: Survey David Rosenberg: The odds of an interest rate hike have tilted Egypt Races to Solve Currency Dilemma in Hunt for Gulf, IMF Cash Europe Seeks to Speed Up F-16 Training for Ukrainian Pilots Bets Against Turkish Lira Hit Record With Controls Under Strain Forint Tumbles as Hungary Diverges From EU on Ukraine, Rates Hungary Cuts EU’s Highest Interest Rate in Policy Turnaround Poland Is ‘Quite OK’ With Zloty Gains, Finance Minister Says AMLO’s Seizure of a Billionaire's Rail Line Is Making Investors Wary of Mexico Ukraine Can’t Win War Against Russia, Hungarian Premier Says IMF Upgrades UK Growth But Warns Rates May Need to Rise Further California Advances Bill Banning Hedge Fund Water Profiteering GQG’s Jain Raises Adani Stake by About 10% for $3.5 Billion Bet UK Prime Minister Sunak Sparks a Run on Socks in Hiroshima TikTok CEO Says Oracle Has Begun Reviewing Its Source Code Chinese App Trains Government Workers How to Keep State Secrets Germany to Buy New Leopard Tanks in €843 Million Defense Order Ukraine Recap: IMF Starts Review of Kyiv’s Progress on Aid Plan More Than 100 US, EU Politicians Want Oil CEO Removed as COP28 Head Modi Uses Sydney Event to Bolster Image After Poll Loss at Home Hungary Seeks Gas From Qatar to Cut Russia Reliance, Orban Says Disney Faces ‘Very Rushed’ Search for Iger Successor, Peter Chernin Says Shutterstock to Buy Meta’s Giphy for $53 Million on UK Antitrust Order AI Startup Anthropic Raises $450 Million for Safety-Focused Chatbot Peloton Revamps Workout App with Free and Pricier Tiers in Services Push Saudi Oil Minister Tells Speculators to ‘Watch Out’: Qatar Forum Zoom Raises Annual Sales Forecast in Sign Pandemic-Era Customers Here to Stay Predators Exploit AI Tools to Depict Abuse, Prompting Warnings Yelp Shares Surge After Activist Pushes Firm to Look Into Sale Micron’s China Blow Darkens Its Path Toward Recovery Mobile carriers urged to improve accessible phone plans for deaf and blind Canadians Uber To Offer Autonomous Rides Through Alphabet’s Waymo Ocado Could Exit FTSE 100 Index in Fresh Blow to UK’s Tech Hopes Billionaire Claure Expands Shein’s Fast-Fashion Empire in Brazil Venture Firm QED Raises $925 Million for Fintech Investing QIA Leads $250 Million Funding Round for App Platform Builder.ai Alibaba’s Cloud Arm to Cut 7% of Staff in Overhaul, Sources Say Tech, sustainability key to attracting young talent to an evolving agriculture sector TikTok CEO Says Oracle Has Begun Reviewing Its Source Code OpenAI CEO Altman in Europe to Scout Future Office The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. Qatar Wealth Fund Sets up $275 Million Market-Making Program Stock Futures Decline, Currencies in Tight Ranges: Markets Wrap Regional Banks Rallied Last Week. Traders Continued to Short the Sector Hedge Funds Rush to Buy Stocks on S&P 500’s Momentum US Exposure Is Next Headache for Europe Inc. as Dollar Slides No Talk of Moon Shots at This Year’s Bitcoin Bash in Miami China Tech Stocks in Grip of Slowdown Fears Lag Global Peers A Bitcoin-Spot ETF Is Unlikely in US in the Near Future, VanEck CEO Says Debt-Ceiling Tail Hedges Are `Cheap Lottery Tickets,' Bank of America Says The Patent That Helped Vanguard Clients Pocket Big Gains Expires Stan Druckenmiller, David Tepper Lead Family Offices Betting on AI Regional Banks May Emerge as a Winner in Debt Showdown, State Street Says Dip Buyers Scorched by Cratering Bank Stocks Rush for the Exits Stock Traders Are Nonchalant About US Being on Cusp of Default New York Cements Itself as the Gold Mining Capital of the World Crypto ETFs Are Year’s Best Performers But Only Lure $12 Million Turkish Banks Set for Best Week in 21 Years Before Sunday’s Vote Single-Stock ETFs Get Vote of Confidence in Huge 32-Fund Filing The Number of Climate Funds Out There Has Exploded BCE You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan, and submit your feedback using our Accessibility webform. Gerry Smith, Bloomberg News Peter Chernin, chairman and chief executive officer of the Chernin Group LLC, speaks during a session at the Qatar Economic Forum (QEF) in Doha, Qatar, on Tuesday, May 23, 2023. The third Qatar Economic Forum will shine a light on the rising south-to-south economy and the new growth opportunities it presents to the global business community. , Bloomberg (Bloomberg) -- Walt Disney Co. is facing a “very rushed succession process” as it searches for a candidate to replace Chief Executive Officer Bob Iger, former News Corp. executive Peter Chernin said Tuesday at the Qatar Economic Forum. “It’s a slightly weird thing to say within two years I’m out again,” said Chernin, co-founder and partner of the investment firm TCG. “On some level, this time next year they should know who his successor is.” Iger, Disney’s CEO for 15 years, returned to run the company in November under a two-year contract and a mandate to help find his replacement. Another of Disney’s biggest decisions will be figuring out when to offer the ESPN cable channel directly to consumers online. That will be “a pretty challenging transition,” Chernin said, adding that the advertising revenue and fees from cable providers that ESPN gets would be “pretty hard to replace.” “There’s no scenario in life where an ESPN streaming platform is immediately as successful as the cable platform,” he said. Twitter Inc., meanwhile, has yet to prove that it can build a successful subscription platform, said Chernin, who previously served on the social media company’s board. Celebrities who create shows on Twitter, such as one proposed by recently-fired Fox News star Tucker Carlson, are making a trade-off, he said. “Could Tucker get 4 or 5 million paid subscribers? I’m not sure,” Chernin said. “You certainly don’t have anything near the reach you used to have. You’re getting paid, but you have less influence.” The government of the State of Qatar is the underwriter of the Qatar Economic Forum, Powered by Bloomberg. ©2023 Bloomberg L.P.