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Disney nearly doubles parks spending, to invest $60 billion over next decade

Livemint

Livemint · 1y ago

Disney nearly doubles parks spending, to invest $60 billion over next decade

Walt Disney is planning to increase its capital expenditure for its parks business and allocate around $60 billion over the next 10 years. The company's parks have been a reliable source of profit, offsetting losses in its streaming business. Disney aims to invest in new attractions and amenities at its theme parks in California and Florida, despite facing political challenges. The company also plans to expand its cruise line capacity by adding two ships in 2025 and another in 2026. Disney's stock experienced a 3.0% decline following the announcement.

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Swiggy quarterly loss nearly doubles on higher quick commerce spending

VCCircle

VCCircle · 3m ago

Swiggy quarterly loss nearly doubles on higher quick commerce spending

Swiggy reported a quarterly loss of 10.81 billion rupees, nearly doubling from the previous year's 5.55 billion, due to increased spending on its quick commerce business to compete with rivals like Blinkit and Zepto. Despite the loss, revenue from operations surged by 45% to 44.1 billion rupees, driven by strong growth in its Instamart service, which saw its gross order value double year-on-year. Instamart also expanded its network by adding 316 new dark stores.

Disney Q4 profit beats estimates; to cut extra $2 billion in cost

Livemint

Livemint · 1y ago

Disney Q4 profit beats estimates; to cut extra $2 billion in cost

Walt Disney reported better-than-expected fourth-quarter profits, driven by increased attendance at its Shanghai and Hong Kong theme parks. The company's adjusted per-share earnings of 82 cents exceeded the estimated 70 cents, while its revenue of $21.2 billion matched expectations. Disney plans to cut an additional $2 billion in expenses and is on track to achieve $7.5 billion in annualized savings. The company added almost 7 million Disney streaming subscribers, bringing its total streaming subscribers to 150.2 million. Disney's streaming business is projected to reach profitability by September 2024.

India beats global average in employees using AI: report - The Economic Times

Economic Times

Economic Times · 1m ago

India beats global average in employees using AI: report - The Economic Times

India leads in AI adoption, with 92% of employees regularly using generative AI tools, according to a Boston Consulting Group report. Despite the widespread use, nearly half of Indian employees fear job displacement over the next decade due to AI. The Global South, including India and the Middle East, shows significant AI integration. To harness AI's potential responsibly, companies must invest in workforce upskilling, process redesign, and leadership alignment around AI strategy.

RIL Tata JV: Mukesh Ambani's Reliance mulls buying 29% stake in Tata Play

Livemint

Livemint · 1y ago

RIL Tata JV: Mukesh Ambani's Reliance mulls buying 29% stake in Tata Play

Mukesh Ambani's Reliance Industries (RIL) is reportedly in talks to acquire a 29.8% stake in Tata Play, the satellite TV and streaming service owned by Walt Disney. This potential deal would expand RIL's presence in the television distribution sector, potentially creating a major media powerhouse in India. RIL is also in merger talks with Disney to create a media behemoth, with Reliance potentially investing $1.5 billion for a 60% stake. RIL's share price recently hit a record high, propelling its market capitalization to nearly ₹20 lakh crore.

From investment to stock market - Gautam Adani highlighted these 4 things

Livemint

Livemint · 1y ago

From investment to stock market - Gautam Adani highlighted these 4 things

Gautam Adani, the founder of Adani Group, delivered a keynote speech at an event organized by Crisil, discussing India's infrastructure sector, stock market, GDP growth, and future investments. He highlighted the remarkable advancements in India's infrastructure over the past decade and praised the government's effectiveness in institutionalizing policies. Adani also announced plans to invest over $100 billion in energy transition projects and the manufacturing of components for green energy production. He expressed confidence in India's potential for future GDP growth and predicted a trillion-dollar addition to India's GDP every 12 to 18 months in the next decade.

Disney surpasses earnings expectations, projects strong profit outlook

Livemint

Livemint · 1y ago

Disney surpasses earnings expectations, projects strong profit outlook

The Walt Disney Co. has reported better-than-expected earnings for its fiscal first quarter, with earnings per share of $1.22. The strong performance of its international theme parks and cost-cutting measures contributed to the positive results. However, revenue of $23.5 billion fell short of estimates due to struggles in Disney's TV business and underperforming theatrical releases. The company expects profits to rise at least 20% this year and has raised its dividend by 50% and approved a $3 billion stock repurchase program. Disney's streaming service subscribers fell short of projections but losses in streaming decreased. International parks experienced significant growth while the traditional media and film divisions continued to struggle. Disney is also acquiring a $1.5 billion stake in Epic Games Inc., the maker of the popular Fortnite game.

Khosla Ventures doubles down on blue-collar recruitment platform Vahan.ai

VCCircle

VCCircle · 10m ago

Khosla Ventures doubles down on blue-collar recruitment platform Vahan.ai

Blue-collar recruitment platform Vahan.ai has raised $10 million in a Series B funding round led by Khosla Ventures. The AI-powered platform plans to expand into industries such as manufacturing and retail, and invest in advancing its AI technology. Currently conducting interviews in English and Hindi, Vahan.ai aims to support eight major Indian languages and numerous dialects to further accessibility. The company claims to be supporting nearly 25,000 recruits per month and aims to help over a billion people find livelihoods in the future. Vahan.ai previously raised $8 million in its Series A funding round.

Reliance, Disney to merge India media assets to create $8.5 billion powerhouse

Reuters · 1y ago

Reliance, Disney to merge India media assets to create $8.5 billion powerhouse

Reliance Industries and Walt Disney have announced a merger of their India TV and streaming media assets, creating an $8.5 billion entertainment company. Reliance will invest $1.4 billion in the merged entity, giving it a majority stake of over 63%, while Disney will hold about 37%. The merger aims to help Disney revive its struggling India streaming business and ease its financial strain. The combined entity will be led by Nita Ambani, wife of Reliance Chairman Mukesh Ambani, and former top Disney executive Uday Shankar as the vice chair.

India to spend up to $385 bn to meet renewable energy target, says Moody's

VCCircle

VCCircle · 1y ago

India to spend up to $385 bn to meet renewable energy target, says Moody's

India will need to invest around $385 billion to achieve its target of 500 gigawatts (GW) of renewable energy by 2030, according to Moody's Ratings. Despite this push for renewable energy, coal will continue to play a significant role in electricity generation for the next decade. Moody's estimates that annual capacity additions of around 44 GW will help meet the renewable energy target. India will need to spend $340-$385 billion on capacity, transmission, and distribution over the next six to seven years. However, government-related issuers are expected to maintain moderate leverage during this period.

Adani’s airport outlay plans at ₹60k crore in 10 years

Livemint

Livemint · 1y ago

Adani’s airport outlay plans at ₹60k crore in 10 years

The Adani Group plans to invest around ₹60,000 crore ($8.1 billion) to expand its existing airports over the next 5-10 years. The investment will primarily focus on enhancing terminal and runway capacity over a period of five years and developing the city-side infrastructure over a decade. The funding will come from the parent company's internal accruals. Adani operates airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram. The group aims to more than double its airport capacity by 2040 and sees smaller cities becoming hubs for international passengers.

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