Bloomberg Businessweek (Asia)

Briefs: Netflix’s bad news; a crash diet at Intel

- By Kyle Stock

●● Netflix watched a horror show on Wall Street on April 18, as it forecast slowing growth in the U.S. and abroad. The streaming video platform added 6.7 million subscriber­s in the first quarter; in the current period it expects to add 2 million internatio­nal users and 500,000 U.S. viewers, both behind last year’s pace. Netflix shares slid almost 15 percent on the news.

Goldman Sachs delivered its worst financial report in four years, faced with low interest rates and a skittish mergersand-acquisitio­ns market. Sales at the bank fell 40 percent in the quarter ended on March 31. Morgan Stanley also posted a 21 percent quarterly revenue decline. European Union regulators charged Alphabet with unfairly pressuring gadget makers and cell phone companies to make Google their default search engine. Google said it will demonstrat­e that Android is good for competitio­n and consumers.

Abolitioni­st Harriet Tubman will replace Andrew Jackson on the $20 bill, part of the U.S. Treasury’s push to highlight the contributi­ons of American women. The popularity of the musical Hamilton helped keep Alexander Hamilton on the $10 bill.

United Continenta­l Holdings settled a boardroom tussle with two major investors, agreeing to replace three of its independen­t directors. The chairman role will go to former Air Canada CEO Robert Milton. But former Continenta­l CEO Gordon Bethune, a controvers­ial alternate candidate championed by activists during the proxy battle, won’t get a board seat.

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