Disney plans to cut thousands of jobs and redirect the savings into films, theme parks and cruise ships

Disney plans several thousand more layoffs as it looks for money to spend on parks, cruises, and new shows. Some managers have been asked to cut up to 20% of their yearly costs through job cuts and other savings. That would be far larger than Disney’s April plan to cut as many as 1,000 jobs.

In August, Disney also offered some employees early retirement, then planned a smaller round of cuts in September. Disney President Dana Walden said the company must keep rethinking its size and structure to compete with tech companies. Across the industry, entertainment companies are cutting jobs as more viewers turn to social media, online video, and streaming services run by tech giants.

CVS Health is breaking up its massive healthcare insurance, pharmacy, and drugstore conglomerate.
 

CVS Health is splitting into two companies, betting its drugstores will grow faster on their own. By mid-2028, the new CVS Pharmacy will run nearly 9,000 drugstores under group president Prem Shah, while CVS Health keeps its Aetna insurer and Caremark drug benefits arm under CEO David Joyner. Shareholders will get stock in both.

Joyner credits upgraded store technology and a new way of getting paid for prescriptions with making the drugstores more profitable since 2024, when CVS expected them to shrink 5%. The split comes as lawmakers from both parties criticize CVS's size and that of its major rivals. Industry critics say owning insurers and pharmacies creates conflicts of interest. It also reverses Joyner’s 2025 investor pitch, which said sharing technology across its businesses set CVS apart.

Shell's profits are soaring thanks to the higher gas prices.

Shell nearly doubled its profits last quarter as the US-Israeli war with Iran and strikes on Russian refineries left the world short on gasoline, diesel, and jet fuel. It earned $10.8 billion from July through September, its most since 2022, on profit margins nearly four times higher than a year ago.

Shell made that money even as it pumped less oil and gas this year, mainly because it lost output in Qatar during the war. Drivers and businesses are paying more at the pump, and the Group of Seven nations agreed in October to release emergency diesel supplies. Shell plans to use the profits to reward investors and buy back $5 billion of its own stock over the next three months, its second-largest buyback ever. CEO Wael Sawan said the company kept performing well while the global energy system stayed severely disrupted.

Starbucks is done with its turnaround and focused on growth.

Starbucks is shifting focus from a turnaround to growth. It is selling more at its UUScafes as customers spend more on each visit. The coffee chain grew sales at UUScafes open at least a year 7.7% from July through September, after a slight decline a year earlier.

Starbucks got most of that growth from higher spending per visit rather than more visits. Worldwide, it served 1.8% more visits, a slower pace than in the spring, and fewer customers came into its cafes outside North America. Starbucks also brought in 4% less revenue overall after selling control of its China cafes. CEO Brian Niccol says the company plans to restart buying back its own stock next year.

Apple has been raising prices to cover pricier memory chips, and shoppers keep buying.

Apple is raising prices to help offset rising memory chip costs, and customers keep buying. In its first earnings report under CEO John Ternus, Apple brought in a record $114.5 billion from July through September, up 12% from a year earlier. iPhone sales rose about 17%, helped by early demand for the iPhone 18 Pro, which was on sale for only about a week of that stretch.

Apple has also been using memory chips it bought earlier at lower prices, but Ternus said he expects memory costs to keep rising into next year. Meanwhile, its first foldable phone, the iPhone Duo, sold out online within minutes, though some buyers reported cracked screens, and Apple is offering replacements.