Netflix now has nearly 270 million subscribers after another strong showing to begin 2024
Netflix gained another 9.3 million subscribers to start the year while its profit soared with the help of a still-emerging expansion into advertising, but caught investors off guard with a change that will make it more difficult to track the video streaming service’s future growth. The performance demonstrated that Netflix is still building on its momentum of last year. That was when it began a crackdown on free-loading viewers relying on shared passwords and the rollout of a low-priced option including commercials revived its growth following a post-pandemic lull. But Netflix's stock price dipped after management disclosed plans to by phase out quarterly updates on its total subscribers.
World Bank's Banga wants to make gains in tackling the effects of climate change, poverty and war
WASHINGTON (AP) — It's a full agenda for Ajay Banga as he nears the end of his first year as World Bank president. The bank and the International Monetary Fund are holding their spring meetings in Washington this week, and Banga is highlighting new initiatives to expand access to health care and electricity across the globe. He says in an Associated Press interview that the challenges of poverty, conflict and climate change are creating a perfect storm and that "we need to put all of our efforts into this.” He's noting the bank’s role in financing climate projects and its focus on major cross-border projects that can affect large numbers of people.
Stock market today: Asian markets sink, with Japan’s Nikkei down 3.5%, as Mideast tensions flare
HONG KONG (AP) — Asian stocks have tumbled, with Japan’s Nikkei slumping 3.5% on heavy selling of semiconductor-related shares and other market heavyweights. Tensions in the Middle East were weighing on sentiment across the region. Oil prices jumped as the state-run IRNA news agency reported that Iran fired air defense batteries early Friday morning after reports of explosions near the city of Isfahan. On Thursday, U.S. stocks drifted to a mixed finish in quiet trading. The S&P 500 index fell 0.2%. The Dow Jones Industrial Average edged up 0.1%, and the Nasdaq composite slipped 0.5% following a mixed set of profit reports from big companies.
Google is combining its Android software and Pixel hardware divisions to more broadly integrate AI
SAN FRANCISCO (AP) — Google says it will combine the software division responsible for Android mobile software and the Chrome browser with the hardware division known for Pixel smartphones and Fitbit wearables. It's part of a broader push to integrate artificial intelligence more widely throughout the company. Google is also reorganizing its AI research and responsibility groups, although those changes mostly won't directly affect consumer products. In a letter sent to employees Thursday, Google CEO Sundar Pichai said the changes will “turbocharge the Android and Chrome ecosystems" while helping to spur innovation. The decision will place both operations under the oversight of a Google executive who previously oversaw the company’s hardware group.
Booming cold drink sales mean more plastic waste. So Starbucks redesigned its cups
Booming sales of cold drinks at Starbucks stores have created a problem: growing amounts of plastic waste from the single-use cups that Frappuccinos, Refreshers, cold brews and other iced drinks are served in. Starbucks said on Thursday that it plans to alleviate some of that waste with new disposable cups that contain up to 20% less plastic. The cups are due to be rolled out to stores in the U.S. and Canada starting this month. Although Seattle-based Starbucks got its start selling coffee, the company says cold drinks now account for 75% of its U.S. sales. Starbucks says the reduced-plastic cups are part of a commitment to cut its waste in half by 2030.
Legislation that could force a TikTok ban revived as part of House foreign aid package
WASHINGTON (AP) — Legislation that could ban TikTok if its China-based owner doesn’t sell its stake has won a major boost as House Republicans included it in a package of bills that would send U.S. aid to Ukraine and Israel. The bill could be law as soon as next week if Congress moves quickly. The TikTok bill passed the House in March and has widespread support in both chambers. It was included in the House foreign policy package after negotiations with the Senate over how long Chinese technology firm ByteDance Ltd. would have to sell its stakein the app. President Joe Biden has said he would sign it.
US committee releases sealed Brazil court orders to Musk's X, shedding light on account suspensions
RIO DE JANEIRO (AP) — A U.S. congressional committee has released confidential Brazilian court orders to suspend accounts on the social media platform X. The orders, disclosed late Wednesday, offer a glimpse into decisions that have spurred complaints of alleged censorship and suppression of free-speech from the company — and its billionaire owner, Elon Musk. The tech mogul, a self-proclaimed free-speech absolutist, had vowed to publish de Moraes’ orders, which he equated to censorship. His crusade has been cheered on by supporters of far-right former President Jair Bolsonaro, who allege they are being targeted by political persecution, and have found common cause with their ideological allies in the U.S.
Europe wants 2 things from China. It may not get far on either of them.
BEIJING (AP) — Europe wants two things from China: First, a shift in its relatively pro-Russia position on the war in Ukraine. Second, a reduction in the trade imbalance. It’s not clear if it will get very far on either front. German Chancellor Olaf Scholz this week became the latest European leader to leave China with promises to talk but little more. There is some reason for hope on the European side. China badly wants foreign investment to boost its sluggish economy. But that may not outweigh the larger strategic reasons China has for promoting its green energy exports and aligning itself with Russia.
What's inside the $95 billion House package focused on aiding Ukraine and Israel
WASHINGTON (AP) — Speaker Mike Johnson has unveiled a long-awaited package of bills that will provide military aid to Ukraine and Israel, replenish U.S. weapons systems and give humanitarian assistance to civilians in Gaza. The package totals $95.3 billion in spending, which matches what the Senate passed in mid-February. But there are a few differences designed to win over some House conservatives. The main distinction is that the House bill provides more than $9 billion in economic assistance to Ukraine in the form of “forgivable loans.” The Senate bill included no such provision seeking repayment.
Sluggish start for spring homebuying season as home sales fall in March with mortgage rates rising
LOS ANGELES (AP) — The spring homebuying season is off to a sluggish start as home shoppers contend with elevated mortgage rates and rising prices. Sales of previously occupied U.S. homes fell 4.3% in March from the previous month to a seasonally adjusted annual rate of 4.19 million, the National Association of Realtors said Thursday. That’s the first monthly decline in sales since December and follows a nearly 10% monthly sales jump in February. Existing home sales also fell 3.7% compared with March last year. The latest sales still came in slightly higher than the 4.16 million pace economists were expecting, according to FactSet. Home prices climbed compared with a year earlier for the ninth month in a row.
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