Disney CEO Defended Amid Investor Battle
Disney has come to the defense of its CEO, Bob Iger, after facing criticism from activist investors. The company released a statement reaffirming its support for Iger and his leadership, stating that he has been instrumental in driving the company’s success. This comes after a recent battle with activist investors who were pushing for changes in Disney’s leadership.
Didi Receives Approval to Resume User Registration
In other business news, ride-hailing giant Didi has received approval to resume user registration after a temporary suspension. The company’s revenue has seen a significant increase of 72% from the previous year, reaching $8.34 billion. Adjusted earnings also hit a record high of $516 million, surpassing Wall Street’s expectations.
Tencent Looks to Shed Investment Portfolio
Chinese company Tencent is reportedly considering shedding more of its investment portfolio as it focuses on funding share buybacks and refocusing its growth strategy. This move comes as the company looks to streamline its operations and potentially switch auditors to meet US regulatory requirements. Tencent generates all of its revenue outside of China through its e-commerce business.
Notable business headlines include Disney defending its CEO, Didi receiving approval to resume user registration, and Tencent looking to shed its investment portfolio.
