(Mon) 'Hamilton' film gets fast-tracked to Disney+
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Fans of the blockbuster Broadway mega-musical Hamilton will have a lot to sing about come July 3rd. Walt Disney announced Tuesday that the ground-breaking rap-infused musical based on the life of founding father and first treasury secretary Alexander Hamilton will bypass movie theaters and land on Disney+ more than a year ahead of schedule. Eager to take on Netflix in the streaming wars, Disney had to dig deep to secure the film rights to this multiple award-winning show. It cost Disney $75 million, but with that, Disney gets original content at a time when production shutdowns mean there¡¯s very little new offerings in the pipeline. The film version, recorded over three live performances featuring the original cast including show creator Lin-Manuel Miranda, was originally slated to hit the big screen in October 2021. Miranda said he was pleased the movie will now come to living rooms during the July 4th holiday weekend in the U.S. Disney is hoping to recoup some of the cost by still planning to put the movie version up on the big screen. No date yet for when that will happen.
(Tue) Hyatt to lay off 1,300 workers
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Hyatt Hotels will slash 1300 jobs globally starting June. The job cuts are the latest blow to the hospitality and travel industry as the pandemic pummels demand and people stay home. Hyatt is already cutting pay for senior managers, board members and all employees as part of a restructuring. It said it now needs to take additional measures , citing "the historic drop in travel demand and the expected slow pace of recovery." The layoffs add up to a little over 2 percent of Hyatt¡¯s 55,000 employees. Laid off staff, it said, would be eligible for severance pay. The announced cuts come one week after Hyatt reported a quarterly loss of more than $100 million and the suspension of its dividend and share buyback program. The hotel industry estimates the outbreak is causing it to lose nearly one-and-a-half billion dollars in revenue every week.
(Wed) As U.S. meat supplies dwindle, exports to China soar
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Facing warnings of a meat shortage in the U.S., President Donald Trump issued an executive order last month directing processing plants to continue operating. "We solved that problem yesterday. I expect to see the supply chain as strong as ever, maybe stronger for certain reasons." Yet, a Reuters analysis of government data showed that plants have increasingly been exporting pork and other meat to China, even as some warn the U.S. food supply chain is "breaking." For example - while pork supplies tightened in the U.S. as the number of pigs slaughtered each day plunged by about 40% since mid-March, shipments of American pork to China more than quadrupled , according to data from the U.S. Department of Agriculture. This comes after President Trump in an effort to ease a trade war he started, signed a deal with Beijing in January, which included a promise by China to ramp up purchases of American farm goods by at least $12.5 billion in 2020. Now, Trump is facing criticism from some lawmakers, consumers and plant employees for putting meat workers at risk - by requiring plants to stay open - in part to help ensure China¡¯s meat supply. Both the White House and USDA declined to comment. The U.S. food supply chain has become highly stressed. Suppliers like Tyson have limited meat products for retailers due to plant closures. While Kroger and Costco have restricted shoppers¡¯ meat purchases.
(Thu) Twitter launches labels, warnings on misleading COVID-19 information
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Twitter will now warn users when tweets contain disputed or misleading information about COVID-19. The social media giant made the announcement on Monday as part of a new approach to misinformation that will eventually extend to topics beyond the coronavirus. The new labels will provide links to more information in cases where the risk of harm from the tweet is not severe enough to be removed but where people could be confused or misled. While other tweets may contain warnings that say the information conflicts with guidance from public health experts before a user views it. Twitter said these labels will also apply to tweets that have been sent before its announcement and will be used regardless of who sent the tweet. This comes as social media companies, such as Facebook, are under pressure to combat misinformation about COVID-19 that has spread on their platforms. These range from bogus cures to misinformation linking the virus with conspiracy theories about high-profile figures.
(Fri) 'Animal Crossing' helps Nintendo smash Switch sales forecast
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Even before gamers around the world were forced to stay home, Nintendo was having a record busting year. The Japanese gaming giant said on Thursday it sold 21 million Switch units in the year ending in March. Operating profit soared by 200% in the January-March quarter. Reuters calculations put it at 89.4 billion yen or over 840 million dollars, smashing analyst forecasts. Nintendo has defied skepticism over its ability to draw in consumers beyond its hardcore base in the Switch's fourth year. The major hit has been the game Animal Crossing: New Horizons. It shifted 13.4 million units in its first six weeks. Many say it's appealing to consumers looking for escapism in crisis-hit economies around the world. Thursday's news is a boost for Nintendo at a time when some investors have accused it of conservative management. The firm expects to sell 19 million Switch consoles in the current financial year.