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North America
CNBC Finance

Disney laying off around 300 employees in latest cuts under new CEO Josh D'Amaro

Disney is laying off around 300 employees in its latest round of job cuts since CEO Josh D'Amaro took the helm earlier this year, according to a person familiar with the matter. The majority of the cuts were to human resources and technology roles, said the person, who spoke on the condition of anonymity because they were not authorized to speak publicly. In April, Disney planned to eliminate as many as 1,000 roles, as D'Amaro consolidated its enterprise marketing division, CNBC reported at the time. Further cuts were made in July as the company reduced its workforce by several hundred people across corporate functions, including at Pixar, ESPN, Disney Entertainment Television and Disney's studios, according to various media reports. The majority of those layoffs occurred within Pixar and National Geographic. Disney warned about the most recent round of reductions in its August earnings report, saying it was evaluating ways to reduce costs at the company. Around that time, Disney also began offering early-retirement buyout packages to longtime executives. "We remain highly focused on reducing costs across the enterprise to create incremental capacity to invest for growth and are evaluating a variety of levers, including reductions in labor and SG&A," Disney said in that report. "We are mid-stream in this work and will provide future updates on progress." D'Amaro stepped in as CEO at Disney in March, replacing longtime chief executive Bob Iger, and has prioritized a strategy dubbed "One Disney" that aims to better align the company's many divisions and integrate compatible businesses. The goal is a seamless flywheel that brings together Disney's intellectual property across its film, streaming, theme park, consumer goods, gaming and sports divisions, D'Amaro has said. Disney, like other legacy media companies, is at an inflection point as streaming and digital entertainment overtake the traditional media landscape. In order to adapt and make new investments, the company has resorted to cutting costs and streamlining its divisions. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Disney laying off around 300 employees in latest cuts under new CEO Josh D'Amaro
North America
CNBC Finance

Alaska Airlines CEO 'not overly concerned' about new Boeing Max 10 delay

Alaska Airlines CEO Ben Minicucci said Tuesday he is "not overly concerned" about a new software glitch that's further delaying the certification of Boeing's 737 Max 10, which is already years behind schedule. Alaska earlier Tuesday unveiled a massive cabin overhaul with more premium seats across its fleet, including lie-flat suites on the Max 10, which are slated to start flying in late 2028. Minicucci told CNBC's Phil LeBeau that the launch could be postponed if the latest Max 10 delay lasts several months, but he added that the Seattle-based airline is working with the Federal Aviation Administration and Boeing on certification. FAA Administrator Bryan Bedford told reporters Monday that the agency is assessing a software issue on the planes and that its approval of the aircraft will be delayed, sending Boeing shares down sharply. The Max 10 — which counts Alaska, United Airlines, Delta Air Lines and American Airlines among its customers — is the last model of Boeing's bestselling Max family of jets that's waiting for federal approval. Boeing's CEO said earlier this month that he expected approval of the Max 10 "very soon." Boeing over the weekend said it recently flagged the problem, which could cut off some automated navigation information to pilots, in an updated software program to airlines. The issue could occur with the vertical navigation system after an aircraft misses an approach and has to go around and line up to land again. Michael O'Leary, CEO of European budget carrier Ryanair, which is a Max 10 customer, told reporters at a conference in Warsaw, Poland, earlier Tuesday that he expected the Max 10 certification to come in "a matter of days, not weeks or months," Reuters reported. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Alaska Airlines CEO 'not overly concerned' about new Boeing Max 10 delay
Europe
BBC Business

Crypto thieves attack man in home and threaten to kill pregnant wife's baby in 'horrific' robbery

A businessman was beaten with hammers by masked men who broke into his home and threatened to kill his heavily pregnant wife unless he transferred hundreds of thousands of pounds of cryptocurrency. Speaking to the BBC, the couple, who want to remain anonymous, described the attack as "horrific" and said they feared for their unborn baby's life. The attackers left in a car driven by a getaway driver after the man transferred his crypto savings. Crimestoppers are offering a £10,000 reward for information in the attack, which was captured on home security footage and is being investigated by the police. Experts say it is one of a growing type of violent theft known as a "wrench attack" targeting cryptocurrency investors. As crypto coins have risen in value, reports of these violent robberies linked to digital assets have emerged in the UK, France and the US. The man, who the BBC is calling James, said three intruders forced their way into their Solihull home before launching an assault which lasted 45 minutes. James tried to fight the men off but they hit him in the face, head and ribs with hammers. His wife, who was seven months pregnant, was held down on the sofa by one of the criminals. "He's got a pillow over her face," James said. "He's literally suffocating her on the sofa. I can hear her screaming, 'I can't breathe'." The couple still had no idea what the criminals wanted until one of the men demanded James unlock his phone and hand it over. James said the attackers appeared to know he owned cryptocurrency, but had little understanding of how to access it.

Crypto thieves attack man in home and threaten to kill pregnant wife's baby in 'horrific' robbery
Europe
BBC Business

Three takeaways from Trump's 'Super Intelligence' summit

US President Donald Trump hosted a meeting of top technology bosses on Tuesday for what he called "an extraordinary gathering" of the minds that are "building America's Golden Age". The guest list included leaders from OpenAI, Anthropic, Nvidia, SpaceX, Meta and Google - all key figures in the US AI industry. The meeting came as some tech executives and experts have called for tighter oversight of AI and a slowdown in developing the technology, citing concerns about the potential risks it poses to humanity. Trump took questions from the media for around 30 minutes alongside House Speaker Mike Johnson and top tech leaders after the closed-door meeting. The president told reporters that the executives had signed a "morally binding" document that would serve as a "form of protection" from AI's potential risks. Under the agreement, which Trump posted on social media, the companies are responsible for ensuring the safety of their own technology. The firms also agreed to implement safeguards to keep models operating as intended and quickly detect and fix any issues, the document said. They will also work with "independent auditors" to assess whether their AI systems are working as intended and ensure their platforms do not "hack or access technical systems in unintended ways." The accord was signed by Trump, Google boss Sundar Pichai, Anthropic chief Dario Amodei, Meta's Mark Zuckerberg, OpenAI President Greg Brockman, SpaceX's Elon Musk and Nvidia chief executive Jensen Huang. "It's almost like a constitution, in a way," Trump said, referring to the agreement. "And the biggest people in the world signed that, and I signed it as president." Trump added that he will set up a board to oversee the safety of AI tools. He did not specify who would be on that board. Zuckerberg said the accord gives the "American people and customers the confidence that the technology works" as intended.

Three takeaways from Trump's 'Super Intelligence' summit
North America
Yahoo Finance

Why the Nasdaq Refuses to Break Even With Treasury Yields Above Five Percent

The ten-year Treasury yield just hit levels that should be crushing growth stocks, yet the Nasdaq-100 keeps refusing to fall. The reason comes down to six companies whose balance sheets are rewriting the rules of how rate pressure actually transmits. This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. The long end of the Treasury curve pushed to fresh highs, with the ten-year yield at 5.18% and the thirty-year at 5.47%, yet the Invesco QQQ Trust (NASDAQ:QQQ) closed the session at $741.10, down 0.01%. The Dow slipped while the Nasdaq-100 held. Standard valuation theory says the index most exposed to long-duration cash flows should have taken the largest hit. Instead, a handful of megacap names carried the session, which is why QQQ refuses to crack and why it is thinner than the flat close implies. Every Treasury maturity from five years to thirty was above 5.00% on 2026-09-24, with the twenty-year at 5.53%. The five-year sat at 5.03% and the seven-year at 5.10%. QQQ carried a 3.37% one-week gain and a 20.64% year-to-date advance. The VIX at 14.21 on 2026-09-22 signals almost no hedging demand, unusual against a curve this high. These firms generate more cash than they need to fund operations, so a higher cost of capital hurts competitors more than it hurts them. Balance-sheet quality explains why the index held while long rates rose. When six names carry these weights, you own concentrated exposure to a handful of businesses rather than a diversified technology position. The two Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) share classes add another 3.27% and 3.02% on top of that. These companies commit enormous amounts to AI capital spending, precisely the activity a higher cost of capital hurts (the power, cooling, and networking suppliers absorbing that spend are the subject of a free report we put together here: seven AI infrastructure names that aren’t chipmakers). Concentration is the engine on days like this and the fault line when one of these names disappoints. Real yields, which strip out inflation, have kept climbing. The ten-year real yield reached 2.85% on 2026-09-24, up from 2.44%. Higher real yields lift the discount rate applied to distant cash flows, which is what a growth index depends on. Mortgage rates, tied to the long end, transmit the same pressure into household budgets before it reaches earnings. The Federal Funds target upper bound sits at 4% as of 2026-09-24, so this long-end move reflects the market repricing of the term premium and inflation risk without policy help, rather than Fed action.

Why the Nasdaq Refuses to Break Even With Treasury Yields Above Five Percent
Asia
The Hindu BusinessLine

NIA to probe mid-air cockpit attack on Captain Smit Machchhar aboard flydubai flight

NIA registers a case to probe and unearth the larger conspiracy behind last month’s mid-air attack on Captain Smit Machchhar inside the cockpit of an Israel-bound flydubai flight. | Photo Credit: SUSHIL KUMAR VERMA Anti-terror agency NIA has registered a case to probe and unearth the larger conspiracy behind last month's mid-air attack on Captain Smit Machchhar inside the cockpit of an Israel-bound flydubai flight, officials said on Saturday. It was reported that on September 30, 2026, the Omani first officer of flydubai flight no. 1073 stabbed the Indian pilot, Captain Machchhar, mid-air "in an apparent attempt to hijack or cause it to crash", according to the First Information Report (FIR) filed by the National Investigation Agency (NIA) on October 9. The NIA has invoked Section 3 (hijacking) of the Anti Hijacking Act, 2016 and Section 16 read with Section 15(1)(a) of the Unlawful Activities (Prevention) Act, 1967, officials said. The Section 15(1)(a) details punishment for terrorist activities for "whoever does any act with intent to threaten or likely to threaten the unity, integrity, security, (economic security) or sovereignty of India or with intent to strike terror or likely to strike terror in the people or any section of the people in India or in any foreign country, (a) by using bombs, dynamite or other explosive substances or inflammable substances or firearms or other lethal weapons or poisonous or noxious gases or other chemicals or by any other substances (whether biological radioactive, nuclear or otherwise) of a hazardous nature or by any other means of whatever nature..." Captain Machchhar sustained critical injuries after he was stabbed by the Omani co-pilot inside the cockpit of the flydubai flight heading from Dubai to Tel Aviv. The incident occurred in the "Saudi airspace while flying near the Jordan-Saudi Arabia border". The case was filed on the direction of the Home Ministry, considering the gravity of the offence and the need to unearth the larger conspiracy, the officials said. "The Central government has received information that flydubai flight no 1073, which was being piloted by Indian national pilot Captain Smit Machchhar and an Omani first officer, departed from Dubai on September 30, 2026 at 7.05 am (GMT) with 174 passengers and six crew members and dived rapidly and turned back into Saudi airspace while flying near the Jordan-Saudi Arabia border at around 9.21 am (GMT)," the FIR states. "And whereas passengers reported that the first officer stabbed Captain Smit Machchhar during the flight in an apparent attempt to hijack or crash the plane but was overwhelmed and restrained by passengers and crew. However, Captain Smit Machchhar sustained deep cuts to the head and hands as a result of the attack," it said. The other flydubai pilots on board then landed the plane safely at Prince Sultan bin Abdulaziz Airport in Tabuk, in northwestern Saudi Arabia at 10.45 am (GMT), leading to the arrest of the first officer by Saudi authorities, the FIR reads. The Central government is of the opinion that a scheduled offence under the National Investigation Agency Act, 2008, has been committed and the case is related to an attack on an Indian national pilot with an apparent attempt to hijack or crash the plane, and "having regard to the gravity of the offence, its grave national and international ramifications, and the need to unearth the larger conspiracy, the matter requires thorough investigation by the National Investigation Agency," it said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

NIA to probe mid-air cockpit attack on Captain Smit Machchhar aboard flydubai flight
Asia
The Hindu BusinessLine

Festive sales kick off with strong demand from smaller towns, premium buys gain traction

India’s festive shopping season opened on a strong note across e-commerce platforms, with Flipkart, Amazon, Myntra and Meesho reporting a sharp increase in orders, customer participation and demand from smaller towns, as shoppers combined value-led purchases with premium upgrades across categories. Flipkart recorded 6.3 million concurrent users in a minute during the opening hour of its 13th Big Billion Days sale, while sessions crossed 287 million during early access. New customers grew 34 per cent, with nearly half of visits in the opening hour coming from Tier-3 towns and beyond. Non-metro customers accounted for around 60 per cent of demand. Amazon said the opening of its Great Indian Festival was the biggest in the event’s history, with the number of products ordered rising more than 100 per cent year-on-year. Customers from every pin code placed orders, with premium Android smartphone sales growing 70 per cent year-on-year, and fashion sales reaching seven times the level of a regular day. Myntra’s Big Fashion Festival, which began on October 8, recorded a four-fold surge in demand over business-as-usual levels in its first 24 hours. Tier-2 and Tier-3 cities contributed more than half of first-day orders, while the average order value was higher than on the opening day of last year’s edition, indicating a shift towards premium purchases. Meesho’s Mega Blockbuster Sale also saw strong traction, with Day 1 orders rising around 75 per cent year-on-year and transacting customers growing about 60 per cent. Orders peaked at more than 75,000 per minute within 15 minutes of the sale going live. The early trends point to festive demand spreading beyond metropolitan centres, while shoppers continue to seek discounts and financing options alongside aspirational products. The electronics, fashion, beauty and home categories featured prominently across platforms. On Flipkart, large appliance sales grew 30 per cent year-on-year in the opening hour, while tablets grew 73 per cent. Beauty sales increased 42 per cent, driven by men’s grooming and personal care. Amazon reported strong demand for premium electronics and home upgrades. Sales of laptops, premium wearables and large appliances rose sharply over regular-day levels, while televisions measuring 55 inches and above accounted for 65 per cent of TV sales. Fashion sales reached seven times a regular day, with demand for footwear, denim and ethnic wear. On Myntra, men’s T-shirts, jeans, sneakers, women’s tops and dresses were among the most sought-after products. The platform also reported strong demand for occasion wear, beauty and premium brands. In the eastern markets, demand during BFF rose seven-fold over business-as-usual levels, with West Bengal, Assam and Bihar contributing to the surge ahead of Durga Puja. Meesho saw demand for sarees, kurta sets, children’s clothing, beauty products and home essentials. Orders on its branded shopping proposition, Meesho Mall, grew more than 200 per cent year-on-year, while customers from Tier-3 and smaller markets nearly tripled. Affordability remained central to purchases. Flipkart said one in four mobile shoppers opted for exchange and one in three chose no-cost EMI. Amazon reported that one in two customers shopped using EMI. Quick commerce also gained traction as platforms extended rapid delivery beyond everyday essentials. Flipkart Minutes recorded a 3.5-fold increase in order volumes over regular days during its opening phase, while new customers grew 11-fold in the first hour. Purchases included premium electronics, grooming products and wearables, with an iPhone 17 delivered to a customer in New Delhi in 3.4 minutes.

Festive sales kick off with strong demand from smaller towns, premium buys gain traction
Asia
The Hindu BusinessLine

Phones, ACs, fridges in demand as festive shoppers plan big-ticket upgrades on Flipkart's TBBD

Festive sales have long been the time Indian households plan their big-ticket purchases, and the opening hours of Flipkart's Big Billion Days (TBBD) show shoppers doing exactly that, with mobiles, large appliances and electronics seeing strong demand ahead of Diwali. Large appliances grew 30 per cent year-on-year in the first hour of the sale, led by air conditioners, refrigerators and washing machines. Tablets grew 73 per cent, pointing to an appetite for personal tech upgrades. In mobiles, premium and flagship smartphones saw strong traction. One in four customers opted for product exchange and one in three chose No Cost EMI, offers that bring down the upfront cost of an upgrade. Entry-level 5G models, held at last year's prices, also drew strong purchases on value. For shoppers who plan such purchases around the festive season, the sale window is typically when exchange values, EMI options and bank offers come together, making it a natural time to replace an older phone, an ageing refrigerator or an AC ahead of next summer. Speed is part of the pitch for electronics. Orders on Flipkart Minutes, the company's quick commerce service, rose 3.5 times over regular days in the opening hour, with new customers on the service growing 11 times. During Early Access, an iPhone 17 reached a customer in New Delhi in 3.4 minutes. Laptops and external hard drives were also among the popular purchases on Minutes, which is currently used for mobiles and electronics rather than large appliances. Across the platform, nearly one in two first-hour visits came from Tier 3 towns and beyond, with non-metro customers accounting for about 60 per cent of demand. Shoppers looking to upgrade can check the exchange value of their old phone on the Flipkart app, compare No Cost EMI options at checkout and browse sale offers across mobiles, electronics and large appliances. Popular models tend to move quickly during festive sales, and customers planning a purchase before Diwali may want to order early. The 13th edition of the sale began with Early Access on October 8 for Flipkart Plus, Black and co-brand card members. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Phones, ACs, fridges in demand as festive shoppers plan big-ticket upgrades on Flipkart's TBBD
Asia
The Hindu BusinessLine

Apple set to debut touch-screen MacBook and new iPad mini in late October

Apple Inc., already set to introduce a revamped smart home strategy next week, is planning a second launch in October to introduce its first touch-screen MacBook and a new iPad mini. The product launch is scheduled on or around Tuesday, Oct. 27, according to people with knowledge of the matter. The end-of-month announcements will also include versions of the 14-inch MacBook Pro and iMac with M6 chips, said the people, who asked not to be identified because the plans aren’t yet public. Like its smart home event on Oct. 13, the next launch will include an online video presentation and in-person component for the press. The Mac and iPad debut will be geared toward creative professionals who work in video production, photo editing and music production. Apple last held such a showcase around new products in Los Angeles in 2024. The unveilings are part of a record-setting slate of fresh products under Chief Executive Officer John Ternus, who took the helm last month. He’s aiming to steer the tech giant into new markets and bolster revenue from related services. The company’s home event next week will include its first smart home hub with a display, a new HomePod mini and an updated Apple TV set-top box — all with the Siri AI assistant at their core. And Apple will introduce a home ecosystem that will include accessories from LG Electronics Inc. and Schneider Electric SE. Apple is looking to reverse its fortunes in the home market and better challenge Amazon.com Inc. and Alphabet Inc.’s Google. Amazon, for its part, launched a major new tablet line this week built around the Alexa+ platform. The Mac and iPad event will mark Apple’s long-awaited move into touch-based computers. The new MacBook Pros, code-named K114 and K116, will be lighter than current models and offer OLED screens, a sharper display technology that’s short for organic light-emitting diode. The devices also will have the Dynamic Island on-screen interface that’s familiar to iPhone users. Bloomberg News first reported on the project in 2023. The new M6 Macs — code-named J804 and J833 — will look like their current versions, while the new iPad mini — code-named J510 — will also include an OLED screen, a videoconferencing camera that moves to the landscape side and a revamped speaker system. The company is planning several other new Macs and iPads for the first half of next year, Bloomberg has reported. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Apple set to debut touch-screen MacBook and new iPad mini in late October