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- Disney experiences a drop in streaming subscribers, affecting share prices
- The Bank of England increases UK interest rates to the highest level since 2008
- Robinhood reveals a plan for 24-hour trading options following a jump in revenue
- SoftBank announces a quarterly gain despite losses in its startup fund
- Microsoft pauses pay hikes amid ongoing cost-cutting efforts
News Flash Summary: Disney’s loss in streaming subscribers leads to a drop in share prices, the Bank of England raises UK interest rates, Robinhood plans for 24-hour trading following a revenue increase, SoftBank gains despite startup fund losses, and Microsoft pauses pay raises amid cost-cutting efforts.
Disney experiences a drop in streaming subscribers, affecting share prices
Walt Disney’s share prices dipped by over 4% in pre-market trading following a loss of 4 million streaming subscribers. Despite this, the company managed to reduce the operating loss of its Disney+ streaming service by $400 million from the previous quarter.
The Bank of England increases UK interest rates to the highest level since 2008
The Bank of England has raised the bank interest rate by 0.25%, reaching 4.5%, a figure not seen since 2008. This decision comes as the UK’s annual rate of consumer inflation rose to 10.1% in March.
Robinhood reveals a plan for 24-hour trading options following a jump in revenue
Online brokerage Robinhood plans to offer 24-hour weekday trading on stocks and ETFs as early as next month. This announcement was made following a 47% year-over-year increase in revenue, even though the company reported its seventh consecutive quarterly loss.
SoftBank announces a quarterly gain despite losses in its startup fund
Japanese tech investment firm SoftBank disclosed a $4 billion quarterly gain, in spite of a $2.3 billion loss in its startup investment fund, the Vision Funds, for the period between January and March.
Microsoft pauses pay hikes amid ongoing cost-cutting efforts
Microsoft has announced a pause in pay raises for salaried employees as part of its continuous cost-cutting efforts. The tech giant had earlier disclosed plans to cut nearly 5% of its workforce this year.
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