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US Business

Disney to Cut Costs, Says Layoffs Likely

Chief Executive Bob Chapek announced company-wide cost-cutting measures and told division leaders that layoffs are likely, according to an internal memo viewed by the Journal. The moves come days after Disney reported lackluster earnings.

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US Business

FTX Files for Bankruptcy, CEO Resigns

The bankruptcy will likely wipe out billions of equity value, leaving investors with stiff losses. It will maroon the crypto and cash deposits belonging to a legion of customers. FTX faces investigations or asset freezes from regulators and prosecutors around the world.

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