Business

‘The Messenger’ shuts down after less than a year, lays off 300 staffers

/ Business

Online news site The Messenger, which touted itself as a digital oasis of nonpartisan journalism in the tumultuous sea of corporate media, has ceased operations, barely making it past the eight-month mark of its existence. The platform, founded by Jimmy Finkelstein, who had invested a staggering $50 million into its business endeavor, delivered a shocking […]

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How Bezos-Backed Arrived Homes Could Impact U.S. Housing Affordability

/ Business

In an unprecedented move, Jeff Bezos, the founder of Amazon, has set his sights on the U.S. housing market through a significant investment in Arrived Homes, a company that’s buying up $500 million worth of single-family homes nationwide to rent out. This strategy could revolutionize real estate investment but also raises concerns about its impact

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Disney to cut 7,000 jobs in major reorganization

/ Business

LOS ANGELES (Reuters) – Walt Disney Co on Wednesday announced a sweeping restructuring under recently reinstated CEO Bob Iger, cutting 7,000 jobs as part of an effort to save $5.5 billion in costs and make its streaming business profitable. The layoffs represent an estimated 3.6% of Disney’s global workforce. Shares of Disney rose 4.7% to $117.22 in after-hours trading. The

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