Anthony Bansi
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Here's your Midday Brief for Tuesday, February 3rd.
I'm Anthony Bansi for The Wall Street Journal.
Disney has named park's chief, Josh DeMauro, as its new CEO, succeeding Bob Iger.
DeMauro is 54 years old and currently runs the company's theme parks and cruise ships.
His appointment reflects the importance of Disney's Experiences unit, which accounts for 57% of the company's operating income.
DeMauro will take the top job starting March 18th, while Iger will serve as senior advisor and member of Disney's board through the end of his contract on December 31st.
And we're exclusively reporting that PepsiCo is looking to cut prices by as much as 15% on snacks like Lay's and Cheetos after getting a flood of messages from shoppers saying that the high prices made it hard to buy their products.
Retailers set prices, not Pepsi.
But the company is making suggestions, which executives expect retailers will follow as a way to reach price-strapped consumers.
The price reductions are a part of Pepsi's strategy to boost sales following a December agreement with activist investor Elliott Investment Management that included a pledge to improve the performance of its North American food business.
Heads up, an artificial intelligence tool helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor.
We'll have more coverage of the day's news on WSJ's What's News podcast.
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Here's your midday brief for Tuesday, January 20th.
I'm Anthony Bansi for The Wall Street Journal.
U.S.
stocks dropped and precious metals surged to fresh records after President Trump doubled down on his quest to make Greenland part of the U.S.
Investors are reacting to renewed fears of a trade war after President Trump threatened tariffs on European countries over Greenland.
The Dow, Nasdaq, and S&P are all down.
Meanwhile, gold and silver hit highs in intraday trading.