Business and Tech News - 4.4.24

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Skool Projekt Staff
April 04, 2024

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Disney Wins in Proxy Fight With Nelson Peltz

Disney shareholders elected the company's board nominees, rebuffing activist investor Nelson Peltz's efforts for change, with CEO Bob Iger and director Maria Elena Lagomasino securing overwhelming support against Peltz's campaign. Peltz, who criticized Disney's governance and content strategy, aimed to join the board but received only about 30% of the vote for his seat. Despite some backing from notable entities, Peltz's campaign did not succeed, with retail shareholders largely favoring Disney's current board.

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Private Payrolls Increased By 184,000

In March, US companies significantly boosted hiring to its highest level since July, with private payrolls increasing by 184,000, surpassing the expected 150,000. Job switchers experienced a notable 10% wage growth, the largest since July, while those in stable positions saw a 5.1% rise. The surge in hiring and wages was particularly strong in the construction, financial services, and manufacturing sectors, indicating a robust and broad-based demand for labor.

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Europe Inflation Unexpectedly Falls

Eurozone inflation continued to decline for the third consecutive month in March, dropping to 2.4% and potentially setting the stage for a European Central Bank (ECB) interest rate cut in June. Despite the overall decrease, the price of services remained elevated at 4.0%, suggesting ongoing inflationary pressures in labor-intensive areas. With ECB President Christine Lagarde hinting at a policy adjustment based on future economic indicators, the situation contrasts with the U.S., where economic activity remains solid amidst a strong job market, despite the eurozone's stagnant output.

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Costco Begins Offering Weight-Loss Subscriptions to Members

Costco, in partnership with Sesame, now provides its members with prescriptions for GLP-1 weight loss drugs, including popular options like Ozempic and Wegovy, responding to significant member interest in weight management solutions. The program, priced at $179 for three months, excludes medication costs but offers a consultation, prescription if suitable, and continuous support. This move taps into the rising popularity of GLP-1 medications, prompting adaptations across health and wellness sectors to accommodate the growing demand for weight loss solutions.

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Stable Audio 2.0 Allows Users To Create Three-Minute Tracks

Stable Audio 2.0, developed by Stability AI, enables users to create AI-generated songs from their audio samples, now offering up to three minutes of playback and mandating copyright-free materials. This iteration stands out by being freely available to the public, in contrast to OpenAI's more restricted Voice Engine, and boasts enhanced features for crafting songs with a coherent structure and customizable elements. The model was trained on a vast dataset from AudioSparx, involving over 800,000 files, with measures in place to avoid copyright infringement.

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Here’s how the markets closed yesterday:

 

 

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