CNN — Disney became the latest company to report deep job cuts, as it said it would cut 7,000 jobs from its global workforce. Disney had about 220,000 workers as of October 1, of which approximately 166,000 were employed in the United States. A cut of 7,000 jobs represents about 3% of its global workforce. “While this is necessary to address the challenges we’re facing today, I do not make this decision lightly,” said CEO Bob Iger, who returned to lead the company in November when the board fired Bob Chapek as the company’s leader. “I have enormous respect and appreciation for the talent and dedication of our employees worldwide, and I’m mindful of the personal impact of these changes.” The job cuts come as part of a cost-cutting effort also announced Wednesday. Iger said the company is aiming for $5.5 billion of cost savings across the company, with $2.5 billion of that coming from “non-content” operations, such as movies and television shows. The cuts come as the company announced better than expected financial results. Disney revenue in the quarter rose 8% to $23.5 billion, edging past estimates of $23.4 billion from analysts surveyed by Refinitiv. But earnings, while […]

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Opinion I am a trial lawyer who has for the last 30 years built a practice on food pathogens. Since the Jack in the Box E. coli outbreak in 1993, I have represented thousands of families who were devastated for doing what we all do every day – eat food. In those 30 years a variety of members of the food industry have paid my clients over $900,000,000. This may prompt some to consider me a blood-sucking ambulance chaser who exploits other people’s personal tragedies for personal gain. If that is the case, here is my plea: Put me out of business, please! For this trial lawyer, E. coli , Salmonella , Listeria , and other pathogens have made a far too successful practice – and a heart-breaking one. I am tired of visiting with horribly sick kids who did not have to be sick in the first place. I am outraged with a government and food industry that allow these poisons to reach consumers. So, stop making kids sick and I will happily retire. The FDA is at a crossroads. Over 10 years after the passage of the Food Safety Modernization Act (FSMA), the goals of the most […]

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Oregon Consulting Group, the professionally managed, student-run consulting organization housed in the Lundquist College of Business, is looking for clients in the beverage industry. Open to all disciplines on campus, undergraduate and graduate students, the Oregon Consulting Group (OCG) brings together high-achieving students for a deep dive into experiential learning, providing real-world value to the firms and organizations it serves. The group analyzes an emerging sector each quarter, and recently took on the domestic alcoholic beverages sector. The group chose this industry specifically given its size in Oregon and growth trajectory in the product strategy space. Broadly, the consultants found, “Canned wine is a steadily growing newcomer; craft beer is a maturing industry leader; and hard seltzer is emerging as the new, exploding alternative.” Specifically, the Oregon Consulting Group can assist businesses in the sector capitalize on market opportunities by developing strategies in the following key areas: Competitive price modeling Product diversification and marketing Distribution channel expansion “Project teams are highly collaborative in nature, as consultants develop expertise in a specific area through primary research and share their insights during weekly client meetings,” said Michael Yoo, Business Development Manager for the Oregon Consulting Group. Examples of past projects include […]

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Nissan has tackled unprofitability in Europe after launching new models and cutting costs, Chief Operating Officer Ashwani Gupta said. New or updated models, such as the Qashqai, shown, boosted Nissan in Europe. LONDON — Nissan has reinstated Europe as a "core” global market as the automaker recovers from its business crisis in 2020, when it shrank its footprint in the region to concentrate on the U.S., China and Japan. Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver. Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business. SUBSCRIBE NOW

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SEOUL, Feb 9 (Reuters) – South Korea’s plans to loosen restrictions in its currency market will raise the won’s status globally and boost business opportunities for local financial firms, a vice finance minister told Reuters on Thursday. The new measures, unveiled earlier this week, call for more than doubling the trading hours for the won until past midnight local time and allowing qualified global financial firms to directly trade the currency through two onshore spot brokerage houses. Vice Minister Bang Ki-sun said the government was working on follow-up measures with the aim of implementing the plans in July next year, while dismissing concerns the moves could make the won more volatile. "We are not fully allowing the won to be freely traded outside the country but just make it more convertible," Bang told Reuters in an interview, adding the government would still maintain its oversight over the financial institutions trading the won. South Korea has grown to one of the world’s top 10 economies in just a few decades but has kept a tight grip on its currency market, mainly out of the trauma from its near sovereign default in the late 1990s during the Asia financial crisis. South […]

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Credit Suisse takes huge hit from hedge fund collapse (April, 2021) London CNN — Credit Suisse (CS) has reported its biggest annual loss since the financial crisis in 2008, highlighting the scale of the challenge facing the scandal-plagued Swiss bank as it attempts a turnaround . The lender on Thursday posted a loss of 1.4 billion Swiss francs ($1.5 billion) in the fourth quarter of 2022, extending a losing streak that started in 2021 and taking its full-year loss to 7.3 billion Swiss francs ($7.9 billion). In 2008, Credit Suisse made a loss of 8.2 billion Swiss francs ($8.9 billion). The bank’s shares fell 5% in early trade. The stock has plunged 65% over the past 12 months but is up 12% so far in 2023. Credit Suisse said in a statement that the fourth-quarter performance was impacted by “the challenging economic and market environment, significant deposit and net asset outflows at the beginning of the quarter and the execution of our strategic actions.” It added that it expected to make another “substantial loss” in 2023. Customers withdrew 111 billion Swiss francs ($121 billion) in the final three months of 2022, when the bank was hit by social media […]

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Megadeals and private equity titans may dominate the headlines, but Los Angeles’ Ares Management has quietly amassed $352 billion in assets by offering steady returns regardless of what happens in the stock market. Asan enterprising 13-year-old New York Yankees fan in 1986, Michael Arougheti ran a baseball card trading business, setting up tables at collectibles shows on weekends in suburban New York City. He made thousands but learned that flipping hundreds of cards for tiny gains was a better strategy than obsessively pursuing a rare Hank Aaron rookie card—which might be worth tens of thousands but was almost impossible to find. Since 2018, Arougheti has been the CEO of credit-focused alternative asset firm Ares Management. It has quietly become one of the most successful firms on Wall Street, but unlike its more famous private equity peers, Ares is beating the odds with a steady diet of thousands of singles. The Los Angeles-based firm has grown to $352 billion in assets, more than tripling in size in the last five years, with $214 billion in its credit business, which makes loans to little-known mid-sized companies worldwide. While firms like KKR are known for bold equity bets with unlimited potential gains, […]

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Greater Louisville Inc. has made two hires, including one for a newly created position. Dean Schlader joins GLI as vice president of business outreach and investor development. Clark Welch joins the chamber as director of economic development research and industry networks. In the newly created role, which oversees GLI’s existing investor development and industry networks teams, Schlader will manage top investor accounts and guide the strategy for GLI’s industry networks: the Health Enterprises Network, the Advanced Manufacturing and Logistics Network and TechFirst. Schlader has more than 30 years of experience in a variety of industries, giving him a unique ability to connect with GLI’s diverse membership, according to a news release. He has worked for top local and national companies including Mattingly Ford Title Services, Fleetcor (SVS), John Conti Coffee Co., Shell Oil US and Thorntons. Schlader is a graduate of Bellarmine University earning both his BS and MBA degrees. Welch will serve on GLI’s economic development team, leading research and data analysis to guide and inform business expansion, attraction and retention efforts, the release continued. In addition, he will also work closely with Schlader to execute strategies to grow the Advanced Manufacturing and Logistics and TechFirst Networks. Most […]

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Leadership , Business continuity , Network security The following is Part 3 of a three-part series revealing key highlights from Walmart Global Tech’s Media Day, compiled from a series of on-site tours, fireside chats, panels, roundtables and one-on-one interviews. Click here for the Foreword and Part 1 and here for Part 2 . The Walmart Museum in downtown Bentonville features a room full of memorable items and fun facts on display — everything from co-founder Sam Walton’s Presidential Medal of Freedom to a series of products returned for ridiculous reasons (including a kitchen mixer that was apparently possessed). But one of the most meaningful exhibits is Walton’s 10 Rules of Building a Business . And so we at SC Media decided that at Walmart Global Tech Media Day, we would ask four leading WGT executives how closely their approach to cybersecurity aligns with “Mr. Sam’s” 10 retail commandments. Sam Walton’s original Walton’s 5-10 store in Bentonville, Ark., is normally home to the Walmart Museum — although the museum’s exhibits have been moved to a temporary locations while renovations are underway. (Bradley Barth/SC Media) Jerry Geisler, senior vice president and global CISO Geisler began by sharing with SC Media why […]

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Oscar Chavez is an industry leader invested in turning sales & marketing into profit. Founder of Growthly Group & The Boardroom Chairman. getty As a leader, you are responsible for driving the success of your business and maximizing profits through business development. This encompasses a wide range of activities—it’s not just about acquiring new logos. By implementing effective business development strategies, you can not only increase profits but also improve the overall growth and sustainability of your company. Here are five ways you can accelerate profits in your business through business development. 1. Focus on customer satisfaction. Happy customers are loyal customers, and loyalty leads to repeat business and referrals. Invest in customer service training for your employees and make sure you are consistently meeting (and exceeding) customer expectations. In addition, try actively gathering feedback from your customers and using it to continuously improve your products and services. By prioritizing customer satisfaction, you can increase customer retention and ultimately drive revenue growth through up-sells, cross-sells and referrals. 2. Streamline operations. Take a close look at your business processes as part of your business development strategy, and identify areas where you can be more efficient. This could involve automating tasks, […]

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