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Disney Accused Of Pinching Customers in 2022

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CALIFORNIA – Disney is facing rare business criticism from a high-profile investor: it is squeezing money out of its theme park guests.

The company’s reliance on rising ticket prices and other fees to fuel growth is “unsustainable,” according to Trian Partners CEO Nelson Peltz.

He commented on a presentation at the media conglomerate advocating for change.

He was also worried that Disney’s streaming business was losing money and that people were talking about how poorly paid employees were.

“Disney may assume that raising prices and ‘nickel-and-diming’ cast members and other charges is beneficial to the bottom line,” he argues. “However, we assume short-term thinking jeopardizes the brand’s value and the business’s long-term health.”

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Disney Nickle And Diming

“Nickel-and-diming” is a phrase used in the United States to describe financially harming someone by making many tiny charges or pay cuts.

Disney has been contacted for comment.

According to Trian Partners, which has built up a 0.5% stake in Disney worth $900 million, the business recently announced that it would scale back some of the price increases at its theme parks, where spending per visitor has increased over 40% since 2019.

The rises come when the economy is experiencing widespread price inflation. In recent years, employees at Disney parks have also routinely petitioned for increased compensation.

Mr. Peltz is a well-known activist investor who has gone up against big companies like Wendy’s and Procter & Gamble, which make things like Pampers and Vick’s.

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Company In Crisis

In his presentation, he claims that Disney is in a “crisis” and that many of its problems are self-inflicted.

He says the company overpaid for most of Rupert Murdoch’s Fox empire and gave CEO Bob Iger “over-the-top” pay packages. Iger was recently brought back to his job.

He also expresses concern about Disney’s streaming strategy, which has incurred significant losses.

Trian Partners asked the company’s shareholders for permission to get a seat on the board of directors after Disney turned down the request. The company claims it has no intention of deposing Mr. Iger, who is well respected.

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Expectant Growth in 2022

Disney has said that after the first phase of growth, it focuses on the bottom line of its streaming business.

It expects the company to become profitable in the fiscal year 2024.

The Disney share price has plummeted in the previous year, and it has also come under fire from another activist investor, Third Point Capital, which has urged the company to spin off its cable sports channel ESPN.

SOURCE – (BBC)

 

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics, Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

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Argentina Asks To Join NATO As President Milei Seeks A More Prominent Role For His Nation

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BUENOS AIRES, Argentina – Argentina formally sought on Thursday to join NATO as a worldwide partner, paving the stage for further political and security cooperation at a time when President Javier Milei’s right-wing government seeks to strengthen ties with Western powers and attract investment.

The request came as NATO Deputy General Secretary Mircea Geoana met with visiting Argentine Defense Minister Luis Petri in Brussels to discuss regional security problems.

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Argentina Asks To Join NATO As President Milei Seeks A More Prominent Role For His Nation

Geoana said he supported Argentina’s bid to become an accredited partner in the alliance, which is a valuable role short of “ally” for nations outside NATO’s geographical territory and not compelled to participate in joint military actions. NATO membership is currently confined to European countries, Turkey, Canada, and the United States.

The classification may provide Argentina with access to modern technology, security systems, and training that it did not previously have, according to the Argentine presidency.

“Argentina plays an important role in Latin America,” Geoana stated at NATO headquarters. “Closer political and practical cooperation could benefit us both.”

Milei has been promoting a radical libertarian agenda aimed at undoing years of protectionist trade policies, overspending, and debilitating international debt that have thrown the country’s economy into disarray.

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Argentina Asks To Join NATO As President Milei Seeks A More Prominent Role For His Nation

Over the last four months as president, he has reshaped Argentina’s foreign policy to one of almost unconditional support for the United States, as part of an effort to restore Argentina’s global economic prominence after previous administrations allowed relations with Washington and European allies to deteriorate.

Milei’s government is likewise looking for security gains from improved ties with Western countries. On Thursday, the US government revealed that it would provide Argentina with $40 million in foreign military financing for the first time in more than two decades, allowing critical US allies such as Israel to purchase American weapons.

The money, meant to assist Argentina equip and modernize its military, will help cover the cost of 24 American F-16 fighter aircraft purchased from Denmark earlier this week. Defense Minister Petri described the acquisition of the upgraded jets as “the most important military purchase since Argentina’s return to democracy” in 1983. Milei’s political opponents have criticized the $300 million price tag, which comes as he lowers government expenditure.

Formal partnership with NATO requires the agreement of all 32 NATO countries. Argentina’s relations with crucial NATO partner Britain have been strained since 1982, when the two went to war over the disputed Falkland Islands in the South Atlantic.

The Alliance’s other global partners include Afghanistan, Australia, Iraq, Japan, the Republic of Korea, Mongolia, New Zealand, and Pakistan. Colombia is now NATO’s lone partner in Latin America.

Giving a country the title of “global partner” does not guarantee that NATO allies will defend it in the case of an attack. That pledge, outlined in Article 5 of the North Atlantic Treaty Organization’s founding treaty, is limited to full members of the alliance.

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Argentina Asks To Join NATO As President Milei Seeks A More Prominent Role For His Nation

NATO’s conversation with Argentina began in the early 1990s. Former President Bill Clinton labeled Argentina a “major non-NATO ally” in 1998, partly as a symbolic gesture to reward the pro-American government at the time for contributing soldiers on peacekeeping operations in Bosnia.

SOURCE – (AP)

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2023: Poland Arrests Man Suspected Of Spying For Russia To Aid Zelenskyy Assassination Plot

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WARSAW, Poland – A Polish man has been arrested on suspicion of preparing to spy for Russia’s military intelligence in an alleged plot to assassinate Ukraine’s President Volodymyr Zelenskyy, Polish prosecutors said Thursday.

According to a statement released by Poland’s National Prosecutor’s Office, the individual, known only as Pawel K. under Polish privacy regulations, was accused of preparing to transmit airport security information to Russian agents and was arrested in Poland on Wednesday.

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Poland Arrests Man Suspected Of Spying For Russia To Aid Zelenskyy Assassination Plot

The man was looking for contact with Russians directly involved in the war in Ukraine and was expected to provide detailed information about the Rzeszow-Jasionka airport in south-east Poland, near the Ukrainian border, which serves as the gateway for international military and humanitarian supplies to Ukraine. It also caters to leaders and politicians traveling in and out of Ukraine. The airport is controlled by US soldiers.

If convicted, the guy faces up to eight years in prison, according to the statement.

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AP News – VOR News

Poland Arrests Man Suspected Of Spying For Russia To Aid Zelenskyy Assassination Plot

The prosecutors claimed that close cooperation with Ukrainian prosecutors and security agencies, who tipped them off and provided crucial evidence, made the arrest possible. They stated the case is progressing.

On Thursday, prosecutors in Germany announced the arrest of two German-Russian individuals on suspicion of espionage, with one accused of agreeing to carry out assaults on potential targets, including US military bases, in the hopes of damaging supplies to Ukraine.

Dieter S. and Alexander J. were arrested Wednesday in Bayreuth, Bavaria, according to German federal authorities.

Since Moscow initiated its campaign on Ukraine in February 2022, several persons have been arrested in Poland on suspicion of spying for Russia, including a dual Russian-Spanish citizen.

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Poland Arrests Man Suspected Of Spying For Russia To Aid Zelenskyy Assassination Plot

Poland, a European Union member, has been a loyal backer of neighboring Ukraine and Zelenskyy in their fight against Russia’s aggression for more than two years.

SOURCE – (AP)

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US Navy Flies Aircraft Through The Taiwan Strait A Day After US – China Defense Chiefs Hold Rare Talks

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US navy flies aircraft through the Taiwan Strait a day after US-China defense chiefs hold rare talks
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TAIPEI, Taiwan — The U.S. 7th Fleet reported that a Navy P-8A Poseidon flew through the Taiwan Strait on Wednesday, a day after U.S. and Chinese defense leaders conducted their first discussions since November 2022 to ease regional tensions.

The patrol and reconnaissance jet “transited the Taiwan Strait in international airspace,” according to a 7th Fleet news release.

US navy flies aircraft through the Taiwan Strait a day after US-China defense chiefs hold rare talks

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US Navy Flies Aircraft Through The Taiwan Strait A Day After US – China Defense Chiefs Hold Rare Talks

The statement stated, “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.”

The vital strait, 160 kilometers (100 miles) wide, separates China from the self-governing island democracy. Although it is on the international seas, China regards the passage of foreign military aircraft and ships through it as a threat to its sovereignty.

China claims Taiwan and has threatened to protect it with force if necessary, despite U.S. military support for the island.

According to a report on the Chinese People’s Liberation Army’s Eastern Theater Command’s official Weibo social media site, China dispatched fighter jets to “monitor the U.S. plane’s passage” and operated “in accordance with laws and regulations.”

“Theater troops are on high alert at all times to resolutely safeguard national sovereignty and security as well as regional peace and stability,” Li said in a statement.

US navy flies aircraft through the Taiwan Strait a day after US-China defense chiefs hold rare talks

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US Navy Flies Aircraft Through The Taiwan Strait A Day After US – China Defense Chiefs Hold Rare Talks

China often issues severe protests and deploys fortifications in reaction to the passage of ships and military planes across the Straight, particularly those from the United States.

China also regularly deploys navy ships and airplanes into the strait and other locations around the island to wear down Taiwan’s defenses and scare its 23 million people, who staunchly support their de facto independence.

“By operating in the Taiwan Strait in conformity with international law, the United States protects all nations’ navigational rights and freedoms. The aircraft’s passage through the Taiwan Strait underlines the U.S. commitment to a free and open Indo-Pacific. According to the 7th Fleet statement, the United States military flies, sails, and operates wherever international law allows.

U.S. Defense Secretary Lloyd Austin spoke with his Chinese counterpart, Adm. Dong Jun, on Tuesday in the latest move to strengthen relations with the Chinese military and lessen the likelihood of a regional conflict.

It was Austin’s first time speaking with Dong and his first time speaking in depth with any Chinese counterpart since November 2022. The call lasted slightly more than an hour, as U.S. Secretary of State Antony Blinken will visit China this month for discussions.

US navy flies aircraft through the Taiwan Strait a day after US-China defense chiefs hold rare talks

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US Navy Flies Aircraft Through The Taiwan Strait A Day After US – China Defense Chiefs Hold Rare Talks

Military-to-military contact ended in August 2022 when Beijing terminated all communication following a visit by then-House Speaker Nancy Pelosi to Asia. China replied by firing missiles over the country and increasing military exercises, including what seemed to be a rehearsal for a naval and aerial blockade of the island.

SOURCE – (AP)

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