Subscribers to Dish Network Corp.'s satellite and streaming services no longer have access to channels owned by Walt Disney Co., including ABC and ESPN, amid a contract dispute between the two companies.
That means college football games on ESPN on Saturday as well as the NFL's "Monday Night Football" and other big sporting events will be unavailable to those subscribers if a resolution isn't reached between the two companies.
Why Lyft Is Eating Uber's Dust
The investment case for Lyft was once a question of perspective.
Compared with Uber Technologies, and its global reach and businesses other than rideshare, the purported benefits of a more localized, focused company certainly made sense. But, as the dust settles on the pandemic, Lyft is emerging a little dusted itself. Its distinctions are now looking more like reasons to sell.
Fast Food Chains Raise Millions to Oppose California Wage Law
McDonald's Corp., Starbucks Corp., Chipotle Mexican Grill Inc. and other big restaurant chains are joining to spend millions of dollars to try to overturn a new California law that could set the state's minimum wage for the fast food industry as high as $22 an hour next year.
The "Save Local Restaurants" coalition said Friday it has raised around $12.7 million to fight the law, known as the FAST Recovery Act. Corporate brands have contributed $9.9 million and individual franchisees have given $2 million, including owners of KFC and McDonald's restaurants. Trade associations account for the rest, the coalition said.
U.K. Government Abandons Plan to Cut Rate of Income Tax for Top Earners
LONDON-The U.K. government Monday said it won't proceed with the removal of a 45% top rate of income tax, scrapping a key element of a plan announced late last month that triggered turmoil in the country's financial markets and an intervention by the Bank of England.
The decision to retain the tax rate on high incomes was announced during the ruling Conservative Party's annual conference, where a number of lawmakers had expressed their opposition to the move. But the government was defending the measure as recently as Sunday.
OPEC+ to Weigh Production Cut to Bolster Oil Prices
OPEC+ is set to consider Wednesday its most drastic reduction of production since the pandemic in order to help prop up falling oil prices, a move that could put pressure on global economic growth.
The Organization of the Petroleum Exporting Countries and Moscow-led allies, collectively known as OPEC+, is considering a cut of more than 1 million barrels a day, delegates in the group said.
Battered Investors Now Find Thrills in T-Bills
James DiCio spent much of the last eight years riding cryptocurrencies' double-digit gains and losses. Lately, the 24-year-old has found a new hot investment: short-term government debt.
Weary of big swings in digital currencies, the pilot from Bohemia, N.Y., sold most of his crypto holdings last year, shifting his money from one of the most volatile investments to one of the safest. Now about 20% of his portfolio is in four-week to 13-week Treasury bills, these days yielding as much as 3.3%, the most since he was 9.
Central Banks' Higher Rates, Bond Sales Clash With Government Needs
FRANKFURT-Central banks and governments are on a collision course.
For 15 years, central bankers around the world worked hand in glove with elected leaders to bolster economic growth and inflation.
Inflation Keeps the U.S. From Stepping In to Slow Dollar's Rapid Rise
WASHINGTON-U.S. policy makers aren't likely to take action to slow the dollar's rapid rise despite rising risks of global financial turmoil, analysts say, largely because a strong greenback helps fight domestic inflation.
The U.S. dollar has soared in value as the Federal Reserve raises interest rates to fight the highest U.S. inflation in decades and investors move money into dollar-denominated assets. The WSJ Dollar Index, which measures the dollar against a basket of other currencies, is up roughly 16% so far this year.
Cargo Shipowners Cancel Sailings as Global Trade Flips From Backlogs to Empty Containers
Ocean carriers are canceling dozens of sailings on the world's busiest routes during what is normally their peak season, the latest sign of the economic whiplash hitting companies as inflation weighs on global trade and consumer spending.
The October cancellations are a sharp reversal from just a few months ago, when scarce shipping space pushed freight rates higher and carriers' profits to record levels. Last October, companies like Walmart Inc. and Home Depot Inc. were chartering their own ships to get around bottlenecks at ports to meet a surge in demand for imports.
After Punishing Year for Stocks, Investors Aren't Betting on Post-Midterm Rally
U.S. stocks have a spotless eight-decade record of rising after midterm elections, but investors and strategists are skeptical over whether November races will spark a rebound in this year's bruised markets.
The S&P 500 has moved higher in the one-year period following every midterm election since 1942, according to Dow Jones Market Data. The benchmark on average has gained nearly 15% in post-midterm years since World War II.
China Stocks Near a Bottom, But Recovery Path Unclear -- Talking Markets
After months of roller coaster trading, Chinese stocks have dropped back to their lowest levels of the year. A path to full recovery remains unclear, but stocks with exposure to government stimulus efforts or defensive earnings could offer opportunities, analysts say.
The Shanghai Composite and CSI 300 indexes fell 11% and 15%, respectively, in the third quarter, leaving both benchmarks at their lowest levels in about five months. Hong Kong's Hang Seng Index lost 21%.
Crypto Volatility Creates Opportunity for Wall Street Traders
Wall Street is preparing for the next round of crypto volatility with tried and true tactics, according to brokers and analysts.
Leverage is building again among crypto investors. The market for bitcoin and other digital assets has swung wildly in 2022, pushing prominent crypto firms into bankruptcy. It has also made for the kind of conditions in which savvy, deep-pocketed traders can thrive.
Supermarket Discounts Are Harder to Find as Food Prices Rise
In U.S. supermarkets, toilet paper and noodles are back in stock, but one prepandemic staple has yet to fully return: discounts.
With food inflation running at the highest rate in more than 40 years, American shoppers are finding less relief from deals like "buy one, get one free" promotions, or 99-cent two-liter bottles of soda, according to supermarket executives and analysts.
Britain's Financial Disaster Is a Warning to the World
A toxic mix of politics, inflation and higher interest rates is threatening the financial system in the U.K., sending a shock wave through global markets and providing a warning to governments everywhere of the dangers of the new economic era we are entering.
A surprise tax cut by the new British government just over a week ago sparked investor concern about the country's fiscal credibility and crashed both the pound and the market for U.K. government bonds, known as gilts.
House Republicans Ask GAO to Probe Foreign Ownership of U.S. Farmland
WASHINGTON-The top Republicans on the House Agriculture and Oversight committees have asked the Government Accountability Office to investigate foreign investment in U.S. farmland, questioning whether Chinese acquisitions in particular could pose a national-security threat.
In a letter released Monday, Reps. Glenn Thompson (R., Pa.) and James Comer (R., Ky.), as well as more than 100 other House Republicans, asked GAO to conduct a study examining foreign countries' acquisition of U.S. farmland and its impact on national security, trade and food security.
Probe Into Nord Stream Pipeline Damage Faces Hurdles at Sea, Ashore
When Bjorn Lund's team at the Swedish National Seismic Network first recorded tremors in the Baltic Sea, it didn't initially notice anything unusual.
The area, off the coasts of Denmark and Sweden, is used for naval exercises by both countries. The institute, part of Uppsala University, regularly records the impact of explosive blasts there.
Ukraine Gains Full Control of Lyman, Days After Putin Claimed Russia Rules There
KYIV, Ukraine-Ukrainian President Volodymyr Zelensky said the eastern city of Lyman had been cleared of Russian forces and that Ukrainian flags were flying again, scoring a symbolic military and political victory against Moscow on the very territory President Vladimir Putin said last week Russia would annex.
Russia's Defense Ministry said it was withdrawing troops from the city following days of advances by Ukrainian forces to surround them, but Moscow kept several thousand troops there, most likely encircled until fighting ended.
Ian's Hardest-Hit Areas Rev Up Recovery Efforts
PINE ISLAND, Fla.-Millions of people across the southeast U.S. are tallying their losses and assessing the damage left by former Hurricane Ian, a devastating storm that claimed dozens of lives.
The number of confirmed storm-related deaths in Florida stood at 58, a number the state released late Sunday. The storm also played a role in the deaths of four people in North Carolina and two in Cuba.
Lawmakers Go Home to Fight for Control of the House
WASHINGTON-House lawmakers headed back to their districts ready to campaign in earnest for the next month, with Democrats seeking to protect their fragile majority and Republicans eager to retake control of a chamber they lost four years ago.
(MORE TO FOLLOW) Dow Jones Newswires
October 03, 2022 05:29 ET (09:29 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.