Newsletter Apr 25, 2023

Quick Six

Biden plans to defy age, polls in 2024 re-election campaign
After months of teasing, President Joe Biden is expected finally to announce his bid for a second term Tuesday, defying lukewarm polls and boldly pushing what were once considered age boundaries for one of the planet's most stressful jobs. Biden faces unique headwinds -- chief among these is worry over his age. At 80, he is already the oldest person ever in the Oval Office. He'd be 82 when he began his second term and 86 when he left office.
BIDEN'S ANSWER TO CRITICS THAT HE IS TOO OLD TO RUN

Disney laying off more than 7,000 in second round of cuts
Walt Disney Co began a second wave of layoffs on Monday, as it works toward eliminating 7,000 jobs to help save $5.5 billion in costs. The company is expected to cut "several thousand" jobs in layoffs in the latest round of reductions. The cuts will occur across the company's business segments, like Disney Entertainment, ESPN and Disney Parks, Experiences and Products.
WHY DISNEY EXPECTS A THIRD ROUND OF CUTS IN JUNE

GM, Ford try to convince investors no price war with Tesla
Detroit automakers General Motors Co and Ford Motor Co will try to convince Wall Street when they release Q1 earnings this week that they will not be dragged into a price war with Tesla Inc. So far, investors are unconvinced. Since February, GM shares are down over 20% and Ford shares are down 13% as Tesla has escalated a strategy of cutting profit margins to expand sales volume.
HOW GM AND FORD ARE TRYING TO KEEP UP WITH TESLA

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Markets

DJIA	33,875.40	0.20%
S&P 500	4,137.04	0.09%
Nasdaq Composite	12,037.20	-0.29%
Japan: Nikkei 225	28,593.52	0.10%
UK: FTSE 100	7,912.20	-0.02%
Crude Oil Futures	78.64	-0.15%
Gold Futures	2,003.20	0.17%
Yen	134.08	-0.11%
Euro	1.11	0.02%
* As of market close

Fox's Carlson, CNN's Lemon go off the air

Two of America's most polarizing cable news broadcasters are no longer on the air. Fox News announced Monday that right-wing host Tucker Carlson is leaving the influential conservative TV network in a surprise move days after the outlet was forced to pay a huge financial settlement to end a defamation case. Also on Monday, CNN fired longtime host Don Lemon, who said he was "stunned" by the step and that he was not directly informed of the termination by the network.

WHAT'S BEHIND TUCKER CARLSON'S FAREWELL TO FOX NEWS

Bed Bath & Bankrupt: Shares fall after filing

Shares of Bed Bath & Beyond Inc plunged about 25% on Monday after the home goods retailer's long fight to save its business ended in bankruptcy. The once high-flying company filed for bankruptcy protection on Sunday and said it had launched a liquidation sale after failing to secure funds to stay afloat. The company received a U.S. bankruptcy judge's permission on Monday to borrow $40 million to stabilize its operations and buy time for an orderly sale process.

SEE HOW BB&B WENT FROM WALL STREET RICHES TO RAGS

Trial to decide if Sheeran stole Gaye song

Jury selection began Monday in a trial to determine whether British pop star Ed Sheeran plagiarized American legend Marvin Gaye's "Let's Get It On" in his 2014 hit "Thinking Out Loud." The plaintiffs are the heirs of Ed Townsend, a musician and producer who co-wrote Gaye's 1973 soul classic. They say there are "striking similarities and overt common elements" between Gaye's sultry classic and Sheeran's recent hit song.

THIS ISN'T THE FIRST TIME SHEERAN FACES PLAGIARISM CLAIM

Breaking out

Before launching his successful breakout solo musical career, Marvin Gaye was a member of what early Motown boy band?

Monday's answer: Spanning 107 acres, the Magic Kingdom is Disney World's smallest theme park. Animal Kingdom is the largest at 580 acres.

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