Bloomberg - Evening Briefing - Return of the Iger

Bloomberg Evening Briefing

Disney shares rose the most in almost two years after the storied entertainment giant that lists Pixar, Marvel and Lucasfilm among its assets brought back former leader Bob Iger as chief executive, replacing his successor, Bob Chapek. Iger, 71, who spent more than four decades at Disney, including 15 years as CEO, agreed to serve for two years while helping find a permanent replacement. Chapek, 62, is leaving effective immediately. Disney jumped as much as 9.9% Monday, the biggest intraday gain since December 2020, after falling 41% so far this year. Chapek leaves Disney’s top job with exit payments and benefits that could be worth more than $23 million. And that’s not including the millions of dollars he could collect if the company’s share price recovers in the coming years. 

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With just two weeks to go until new European Union oil sanctions come into force, Russia has already lost more than 90% of its market in the bloc’s northern countries, previously the mainstay of shipments from the Baltic and Arctic terminals.

Oil and chemicals refineries at the Port of Rotterdam in the Netherlands. Photographer: Peter Boer/Bloomberg

Equity investors hoping for a better year in 2023 will be disappointed, warn Goldman Sachs strategists, who said the bear market is not over. “The conditions that are typically consistent with an equity trough have not yet been reached,” wrote in a note on Monday. 

US stocks dropped amid mounting concerns that China may again tighten Covid-19 curbs after a string of reported deaths. Here’s your markets wrap.

Twitter’s head of operations in France announced his departure in a tweet on Sunday ahead of additional firings by Elon Musk, who has reportedly terminated more than half of the company. Damien Viel, who confirmed his departure in a separate message to Bloomberg, had led the region for about seven years.

Ex-Twitter CEO Jack Dorsey, left, and Twitter France managing director Damien Viel leaving the Elysee Palace in Paris in 2019. Photographer: Dominique Faget/AFP

Photos and internal documents from a Beyond Meat plant in Pennsylvania show apparent mold, Listeria and other food-safety issues, compounding problems at a key factory.

Mass US tech firings have left hundreds of foreign workers with little time to find another job before temporary visas force them to leave the country. And many say they’re getting inadequate guidance from the companies that sponsored them.

Online car dealer Carvana’s shares are careening toward an all-time low as investors grow more concerned about the continuing decline in used-vehicle prices.

Photographer: Emily Elconin/Bloomberg

Bloomberg continues to track the global coronavirus pandemic. Click here for daily updates.

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Eleven Holiday Gift Ideas That Are Truly Magical

Every year, the team at Bloomberg Pursuits creates a whole slew of gift guides—steering our readers toward the best spirits, the most extravagant luxury trinkets and items that aren’t even physical gifts at all. But this year they wanted to get back to what’s best about the act of giving: sparking a sense of wonder. To that end, here are 11 of the most enchanting objects we’ve seen in our many years of research on these guides. These are our 2022 Gifts of Wonder.

Photographer: Jason Alden

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