Tuesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King.
Streaming services removing content to save money
Some movies and TV shows on streaming services are disappearing as studios seek to cut costs.
Wall Street has turned up the heat on media companies, now focusing on if and when streaming will be profitable versus if they’re putting up big subscriber numbers.
Removing content from streaming platforms is a way for streamers to avoid residual payments and licensing fees.
American Airlines pulls 10k flights from September schedule
American Airlines has reduced its September schedule by more than 10,000 flights, significantly reducing frequencies on numerous routes and cutting others.
The cuts represent a 6% reduction in American’s operations in September.
The airline’s Newark-Chicago route suffered the most significant reduction.
Bud Light Twitter silent for a month amid backlash
The Bud Light and Budweiser brands haven’t tweeted in over a month as backlash over a transgender influencer continues.
The company last tweeted on April 14 but got thousands of complaints.
Stocks positive following debt ceiling agreement
Stocks are positive as President Joe Biden and House Majority Leader Kevin McCarthy reached an agreement over the weekend to raise the debt ceiling and avoid a default.
The long negotiations between the White House and congressional leaders raised concern among investors that a default on U.S. debt could take place.