Netflix shares fall as revenue growth lags estimates
Shares of Netflix tumbled nine per cent on Thursday after the video-streaming pioneer’s lack of lustre revenue rose sparked concerns of a longer road to growth from its new initiatives.
The company added nearly 6 million subscribers in the second quarter — almost three times above Wall Street’s expectations — thanks to a crackdown on password sharing and the introduction of a cheaper subscription tier that is bundled with advertising.
However, quarterly revenue growth and forecast lagged estimates, prompting co-chief executive officer Greg Peters to caution that it would take “several quarters” to see returns from those efforts.
Netflix shares,…
Gay Water launches to support LGBTQ2S+ people
In a sea of canned cocktails, Gay Water wants to stand out.
Launching Thursday is a brightly colored canned vodka and soda beverage that proudly displays who it’s for, instead of backing off from support for the LGBTQ2S+ community as other companies have done in recent months. In other words, where Bud Light has buckled under pressure as bigotry grows against the LGBTQ2S+ community, Gay Water’s creator Spencer Hoddeson wants his new boozy brand to be the antithesis of that.
“The key issue that Bud Light tapped into was the fact that they didn’t understand their core audience and know…
As the pandemic business loan repayment deadline looms, calls for extending deadlines grow – Business News
The Canadian Press – Jul 11, 2023 / 9:57 am | Stories: 436296
Photo: The Canadian Press
New Democrats and a business group are calling on the federal government to extend the deadline for small businesses to repay loans they receive from a pandemic support program.
But an economist is cautioning against the move, saying taxpayers shouldn’t subsidize businesses that are still struggling to pay back the loans more than three years since the pandemic hit.
The Canada Emergency Business Account program provided about 900,000 small businesses and not-for-profits up to $60,000 in interest-free loans during the pandemic.
The deadline…
Regulator lays out proposed changes to passenger rights charter – Business News
Changes to passenger rights
The Canadian Press – Jul 11, 2023 / 9:44 am | Stories: 436290
Photo: The Canadian Press
The Canadian Transportation Agency is laying out proposed changes to the passenger rights charter.
The reforms came after the Liberal government passed legislation last month to toughen penalties on airlines, shore up the complaint process and target flight disruption loopholes that have allowed airlines to avoid traveler compensation.
The amendments to the Air Passenger Protection Regulations spell out the circumstances when an airline would not have to compensate customers, narrowing the field so that most technical problems will no…
Meta’s Threads is now the fastest-growing platform after 100 million users signed up in the first five days
Meta’s Twitter rival Threads crossed 100 million sign-ups within five days of launch, CEO Mark Zuckerberg said on Monday, dethroning ChatGPT as the fastest-growing online platform to hit the milestone.
Threads have been setting records for user growth since its launch on Wednesday, with celebrities, politicians and other newsmakers joining the platform seen by analysts as the first serious threat to the Elon Musk-owned social media app.
“That’s mostly organic demand, and we haven’t even turned on many promotions yet,” Zuckerberg said in a Threads post announcing the milestone.
The app’s sprint to 100 million users was much faster than…
BC port strike hurting hundreds of small businesses: CFIB
Breadcrumb Trail Links
Transportation
Small Business
News
entrepreneur
economy
Critical shipments getting caught up in the dispute, small businesses say
Get the latest from Naimul Karim straight to your inbox Signup
Published July 11, 2023 • 3 minute read
An empty pallet at the Port of Vancouver. More than half of small businesses surveyed by CFIB say the strike at British Columbia’s ports is impacting their operations. Photo by Jason Payne/PNG
Article content
As the strike at the ports of British Columbia stretches into its 11th day, more than half of 1,400 Canadian small business owners surveyed by the Canadian…
Merger talks between Postmedia and Toronto Star owner fall apart
Talks to combine two of the biggest newspaper publishers in Canada have fallen apart.
Postmedia Network Canada Corp. and Nordstar Capital LP — the majority owner of The Toronto Star and dozens of other smaller newspapers under the Metroland banner — announced late last month that they had entered non-binding discussions about possibly merging.
The framework of the proposed merger would have seen Postmedia transfer its dozens of newspaper titles over to Metroland, with voting control of the new entity split 50-50 between the two sides.
But on Monday, the two sides announced that those talks had broken down, that…
Microsoft to lay off more employees months after letting 10,000 workers go
Microsoft confirmed Monday that it’s eliminating additional jobs, a week after the start of its 2024 fiscal year.
The cuts are in addition to the downsizing announced in January that resulted in 10,000 layoffs. The software maker also disclosed a small number of cuts this time last year. GeekWire reported on the latest cuts earlier Monday.
Amazon, Google and other large technology companies have also scaled back this year after adding headcount rapidly to meet rising demand during the Covid pandemic. Microsoft has said in recent months that clients are looking for ways to save money on their cloud computing…
