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Thursday’s business headlines with Jane King

INDIANAPOLIS (WISH) — Here’s a look at Thursday’s business headlines with Jane King.

7,000 Disney employees to lose their jobs

7000 Disney employees are losing their jobs. This is part of an effort to achieve 5.5 billion in cost savings. The mouse house is under pressure to turn a profit in the streaming business so it will reorganize into three segments. Entertainment, that’s film, TV and streaming, and a sports focused ESPN.

Simon property group underperformed in 2022

Shopping mall giant, Simon Property Group, plans to put more money into at least one of the retail brands it owns after it says retailers underperformed last year. Now, analysts say retail must improve if the company is going to reach its full potential and that’s especially true given the company facing rising costs, including higher interest expenses on debt.

Cummins sees solid demand for new trucks

Cummins says there’s solid North American demand for new trucks for at least the first half of this year and if the Chinese market recovers, look for a possible profit. Spike pin up demand for new equipment does remain a tailwind. The wildcard though for comments is the China market, which hasn’t really got much equipment over the past couple of years. We may be looking to do so this year.

Google chatbot falls flat

The rollout of Google’s highly anticipated chat GPT rival Bard turned into a $100 billion embarrassment. The AI chatbots spit out inaccurate information in a company advertisement, and shares of the Google parent alphabet down more than 7% losing the equivalent of 100 billion in market value.

Taco Bell breakfast sales booming

People are looking for a cheap breakfast at Taco Bell. The sales of the burritos in the extreme case, ideas jumped 9% in the fourth quarter of last year. In October, Taco Bell hired the former Saturday Night Live star Pete Davidson to spearhead a new campaign for the breakfast menu.