3 months ago • 3:21 mins
Disney said over the weekend that it’s going to hold onto ESPN, despite calls to sell the sports network.
What does this mean?
The term “activist investor” doesn’t refer to an eco-warrior with a penchant for stocks: it’s an investor who buys into a company with the aim of changing it – by selling an arm of the company’s operations, for example. That’s exactly what activist investor Dan Loeb called for Disney to do after his hedge fund amassed a $1 billion stake in the media conglomerate last month. Spinning off ESPN – and its stagnating grow
The International Energy Agency predicted a bright future for solar energy, while UK retail sales jumped last month – and it wasn’t because Brits cut loose
Covid disruptions played havoc with Foxconn’s revenue last month, while the West launched some tough new sanctions against Russian oil
The US economy added more jobs than expected last month, while Twitter offered advertisers tasty incentives to lure them back to the platform