FT News Briefing China makes a show of corporate raiding
7 snips
May 11, 2023 Disney is turning tides with reduced streaming losses as it hikes subscription fees. Meanwhile, U.S. inflation is dipping, hitting its lowest point since 2021. China is intensifying its crackdown on foreign consultancies like Capvision and Bain, raising concerns over foreign investments. Additionally, conflicting priorities in China are complicating the business landscape. On a different note, Spotify is cleaning house by removing thousands of AI-generated songs after controversies over fake streams.
AI Snips
Chapters
Transcript
Episode notes
Disney's Streaming Strategy
- Disney CEO Bob Iger is successfully reducing losses in the streaming services.
- This is achieved through cost-cutting measures like reduced marketing and increased subscription fees.
US Inflation Eases
- US inflation dipped to 4.9% in April 2023, the lowest in two years, thanks to easing core services costs.
- However, economists remain cautious, given past instances of inflation resurging after apparent declines.
China Raids CapVision
- Chinese authorities raided CapVision, a foreign business consultancy, as part of a crackdown.
- This was publicized on state TV as a warning to those dealing with foreign firms.