concerns

Walt Disney Co.’s theme parks and cruise line business is holding steady despite national concerns about discretionary consumer spending and higher gas prices.

The Burbank media and entertainment giant’s experiences division reported $9.5 billion in revenue in its fiscal second quarter, up 7% compared with the same period a year ago.

The increase was due to higher guest spending at Disney’s domestic parks and experiences, which reported a 6% bump in revenue to $6.9 billion, and more capacity on the company’s cruise line with the introduction of two new ships. The segment saw a 5% increase in operating income to $2.6 billion for the three-month period that ended March 28.

Disney’s theme parks segment was under close scrutiny given the national conversation about rising consumer costs and gas prices due to the U.S.-Iran war. Analysts had wondered whether consumers would tighten their belts and forgo vacations given the higher travel costs.

Disney did see a 1% decline in attendance at its U.S.-based parks compared with the prior year, which the company attributed to “continued softness” in international visitors, but said it was starting to move past those issues. Company executives have previously said Disney pivoted marketing and promotional efforts to attract local visitors.

Last quarter, executives indicated that results in the company’s second fiscal quarter could be affected, in part, by “international visitation headwinds,” a nod to the lower number of foreign visitors now traveling to the U.S.

Though the heightened economic uncertainty around the world could have a “potential impact” on the business, Disney Chief Executive Josh D’Amaro and Chief Financial Officer Hugh Johnston said in a shareholder letter Wednesday that the company was “encouraged by current demand.” The company expected that fiscal third-quarter domestic attendance numbers would improve, they wrote.

The company’s overall earnings were powered by its entertainment business, which posted revenue of $11.7 billion, up 10% compared with the prior year’s quarter.

That growth was driven by big gains for Disney’s streaming services — Disney+ and Hulu — which raked in nearly $5.5 billion in revenue, an increase of 13% compared with 2025, thanks to higher subscription fees from user growth and more advertising revenue. Operating income for the streaming business jumped 88% to $582 million.

Disney’s entertainment segment also had a stronger quarter at the theatrical box office, with standout performances from 20th Century Studios’ “Avatar: Fire and Ash,” the animated sequel “Zootopia 2” and Pixar’s “Hoppers.”

Overall, the company reported $25.2 billion in revenue, a 7% bump from the prior year. Income before income taxes totaled $3.4 billion, an increase of 9% compared with the same period in 2025, while operating income rose 4% to $4.6 billion. Earnings per share, excluding certain items, was $1.57, compared with $1.45 a year earlier.

Disney’s sports segment, which includes ESPN, reported revenue of $4.6 billion, a 2% increase from the same period in 2025. It brought in operating income of $652 million, a 5% slide that the company attributed to higher sports rights costs and the absence of UFC pay-per-view revenue compared with last year.

Disney also alluded to the company’s view of artificial intelligence as a “meaningful long-term opportunity,” saying it could play a role in content creation and production, monetization, workforce productivity, consumer and guest experiences and enterprise operations.

“At the same time, we are committed to implementing AI in a way that keeps human creativity at the center of everything we do and respects creators and the value of our intellectual property,” D’Amaro and Johnston said in the shareholder letter.

After noting OpenAI’s closure of the text-to-video AI tool Sora, which Disney had planned to invest in, D’Amaro and Johnston said the company will “continue to explore” commercial opportunities with OpenAI and other companies.

Filming is underway for The Summer I Turned Pretty movie, but producers are facing unexpected ‘disruption’

The Summer I Turned Pretty producers have issued a two-word warning to fans after fearing for the safety of cast members.

It’s been less than a year since the final episode of the cherished romantic drama landed on Prime Video. Just as viewers thought the Fisher love triangle had reached its conclusion, the streaming service delivered the unexpected news that the franchise would wrap up with a feature-length film.

Production officially began on April 27 in Wilmington, North Carolina, the identical setting used for the previous three series. However, with merely one week of shooting underway, the show’s makers have squashed fans’ wishes to catch a glimpse behind the curtain of the production process.

Within the short filming period, crowds of viewers have already assembled at the shooting locations, catching sight of the leading cast members – Lola Tung, Christopher Briney, and Gavin Casalegno – as they slip back into character during boat scenes and intense exchanges, reports the Mirror US.

Showrunners have evidently had their fill and requested supporters not to attend the set or publicise filming whereabouts. On social media, the programme’s creators posted footage of the message “Privacy Please,” being inscribed into sand by production staff.

Alongside the seaside footage, they posted: “We love the excitement, but sharing locations and visiting set disrupts filming and creates real safety concerns for our cast and crew.

“We’re working hard to create a protected bubble to make the best movie possible. Please help us protect the magic of Cousins until it’s ready to be shared.”

Supporters rushed to the comments section with apologies, with one writing: “Sorry girl we got excited.”

Amazon replied to the fan: “Just as excited as you and we want the wait to be worth it. We appreciate everyone who keeps it calm for our cast and crew!”

Devotees have been eagerly awaiting a peek at production since the final episode broadcast on September 17. The series concluded with Lola’s character Belly and Christopher’s Conrad heading back to his Cousins Beach property as a couple.

The season initially kicked off with Belly starting university while in a relationship with Conrad’s brother Jeremiah, played by Gavin. Throughout the episodes, Belly discovers her then-partner had been unfaithful, sparking a brief split which ultimately culminates in an engagement.

On the eve of Belly and Jeremiah’s nuptials, Conrad admits he still harbours feelings for her years after they were together.

Consumed by conflicting emotions, Belly flees the country mere hours before she was due to marry his brother. She subsequently spends several months residing in Paris, before an unexpected guest arrives: Conrad.

Following a brief reunion in the French capital on her birthday, old feelings are reignited and the pair decide to give their romance another chance.

Belly remains in Paris before ultimately heading back to Cousins Beach with Conrad, where the couple are due to tie the knot — provided the film stays true to the epilogue of author Jenny Han’s final instalment in the series, We’ll Always Have Summer.

The Summer I Turned Pretty movie is anticipated to be released in 2027. The series is streaming now on Prime Video.

OpenAI (OPENAI) President Greg Brockman told a federal court on Tuesday that Elon Musk’s apparent lack of knowledge about AI made OpenAI’s early leadership leery about giving him control of the company.

“Look, he knows rockets, he knows electric cars,” Brockman said,

Published on
05/05/2026 – 7:12 GMT+2

Oil prices fell back in early trade but remained elevated as investors kept an eye on escalating tensions between the US and Iran and progress on ships passing through the Strait of Hormuz.

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At the time of writing, Brent crude was trading 1.38% lower at $112.86 while US crude, or WTI, was down 2.27% at $104 per barrel. US futures edged 0.1% higher.

Elsewhere, regional trading was thin overnight with markets in Japan, South Korea and mainland China closed for holidays.

Hong Kong’s Hang Seng fell 1.1% to 25,805.98. Australia’s S&P/ASX 200 lost 0.5% to 8,649.80, while Taiwan’s Taiex traded 0.2% lower at 40,626.22.

The fragile ceasefire between the US and Iran was tested on Monday after the US military said it had sank six Iranian small boats targeting civilian ships, while two US-flagged ships successfully passed through the Strait of Hormuz.

The key waterway for oil and gas transport remains largely closed despite repeated demands from the US for Iran to reopen the strait and as the United States imposed a sea blockade on Iranian ports. US President Donald Trump’s “Project Freedom” plan under which the United States would help guide stranded ships through the Strait of Hormuz began on Monday.

Brent crude, the international standard, surged above $114 a barrel on Monday, gaining nearly 6%. Before the war began in late February, it was trading near $70.

SACRAMENTO — The debate over immigration issues has reached a fever pitch nationwide, and Angelica Salas said it’s putting her employees at risk.

Salas, executive director of the Coalition for Humane Immigrant Rights, said her staff experiences harassment and death threats.

“They ask themselves, what if someone who disagrees with our work can find where I live, will my family be safe?” Salas said, addressing state lawmakers at a recent legislative hearing.”People begin to self-censor; they step away from their work and some leave the field entirely.”

Salas was speaking in support of Assembly Bill 2624, which would provide privacy protections for those facing harassment for working or volunteering with organizations that offer legal and humanitarian aid to immigrants. The bill would create an address confidentiality program, like the one already offered to reproductive healthcare workers, and prohibit people and businesses from selling or posting images or personal information about the protected individuals on the internet.

The measure has drawn ire from Republicans, who argue it could have a chilling effect on free speech and the media. Assemblymember Carl DeMaio (R-San Diego) dubbed it the “Stop Nick Shirley Act” and said it would prevent right-wing social media influencers like Shirley from conducting immigrant-related investigations in California.

Assemblymember Mia Bonta (D-Alameda), who authored the legislation, said the proposed law would help keep people safe — but several 1st Amendment experts this week told The Times the bill could have unintended consequences.

“There could be grounds for concern,” said Jason Shepard, a media law and communications professor at California State Fullerton. “It reflects a legitimate and important state interest in protecting people from harassment and threats. But at the same time, this bill punishes the publication of information.”

The legislation defines “personal information” as anything that identifies, describes or relates to the protected individuals, including their names, addresses, telephone numbers, physical descriptions, driver’s licenses, financial information, license plate numbers and places of employment.

Shepard said the potential new law could be applied unevenly, and the language could have a chilling effect on investigative journalism.

Given the polarized political environment, Shepard said the legislation also could prompt other groups to request similar protections, as those working in a range of professions are facing increasingly heated rhetoric or attacks.

“This is not unique to people who are working in immigration support services; this really could apply to anybody engaged in public debate today,” he said.

Carolyn Iodice, the policy director for the Foundation for Individual Rights and Expression, known as FIRE, said the organization has noted an uptick in laws nationwide implementing privacy protections for those in certain professions.

She pointed to a statute enacted a few years ago in New Jersey that protects the addresses of judges, prosecutors and police officers. The law was used in 2023 to block an editor with New Brunswick Today from publishing an article about the police chief living two hours outside of the city.

“It was obviously newsworthy, but this officer was able to wield the law against this journalist, and that is the kind of thing we are worried about,” Iodice said. “When you think about handing what could be a huge number of people the ability to just block anything from being posted about them online — it could easily be abused.”

David Loy, the legal director for the nonpartisan First Amendment Coalition, said the measure would censor the free speech of all citizens, not just those who defamed or threatened immigrant aid workers.

“Someone might have a legitimate dispute with them and wants to refer to it online,” he said. “But they could then basically silence [that person] from referring to them on a Yelp review or Facebook posts that has nothing to do with threatening them — and that is going way beyond the narrow exceptions of the 1st Amendment.”

Loy said the coalition reached out to Bonta’s office and hopes to help tweak the bill.

Meanwhile, the legislation continues to face scrutiny from Republicans.

“We exposed CA Democrats for the ‘Stop Nick Shirley’ Act that silences citizen journalists who expose their fraud and corruption,” DiMaio wrote this week on social media.

Shirley released a viral video last year alleging fraud in Somali-run immigrant daycare centers in Minneapolis. He recently shared videos of himself in Sacramento confronting Democrats who support Bonta’s bill.

“The enemy is truly within,” Shirley wrote on Instagram. “When our politicians would rather protect fraudsters and illegal migrants, it’s time for us to stand up or face mass oppression from the traitors.”

Bonta dismissed the assertion that the bill is intended to deter journalists, stating in a news release that “right-wing agitators” and “ineffective legislators” were intentionally spreading misinformation.

Bonta spokesperson Daniel McGreevy said the bill has a straightforward goal of protecting immigrant service providers. He said the office is working to refine the legislation to address concerns and welcomes good-faith dialogue.

The bill is progressing through the state Legislature and most recently was referred to the Assembly Appropriations Committee.

May 3 (Asia Today) — Japan and Vietnam agreed to deepen cooperation across key economic security sectors, including energy, critical minerals, semiconductors, artificial intelligence and space, as Tokyo seeks to strengthen supply chains and reduce reliance on China.

Prime Minister Sanae Takaichi met with Vietnam’s top leadership, including Communist Party General Secretary and President To Lam and Prime Minister Le Minh Hung, during her visit to Hanoi. After the meetings, she said both countries had designated economic security as a top priority in bilateral cooperation.

According to Vietnamese media and Reuters, the two countries agreed Saturday to elevate their comprehensive strategic partnership and signed six memorandums of understanding covering technology, climate response and information and communications.

Energy cooperation at the forefront

A key outcome was in energy. Vietnam said Japan will support crude oil supplies to the Nghi Son refinery through a $10 billion “Power Asia” initiative aimed at strengthening energy resilience in the region.

The program, introduced by Takaichi last month, is designed to help Southeast Asian countries affected by disruptions in the Strait of Hormuz by supporting oil procurement, storage and supply chain resilience.

Japan’s Idemitsu Kosan has already decided to send about 4 million barrels of crude oil to Vietnam via routes that bypass the Strait of Hormuz. The shipment, equivalent to about 10 days of refinery operations, followed a request from Vietnam earlier this year.

Strategic message on China

In a speech at Vietnam National University, Takaichi emphasized the risks of overdependence on a single country for critical supplies, a remark widely interpreted as targeting China.

“Overreliance on one country often stems from abnormally low prices,” she said, calling for a “level playing field” in global trade.

She also stressed that regional supply chains depend on secure and open sea lanes, referencing both the Strait of Hormuz and the South China Sea.

The speech reaffirmed Japan’s vision of a “free and open Indo-Pacific,” a framework originally proposed by former Prime Minister Shinzo Abe and now updated for what Takaichi described as a more challenging global environment.

Expanding cooperation in critical minerals

The two countries also agreed to expand cooperation on critical minerals, as Japan seeks to diversify supply chains heavily dependent on China.

Vietnam holds significant reserves of rare earth elements and gallium but lacks refining capacity, leaving it reliant on Chinese processing. Strengthened cooperation could help Japan secure alternative supply sources.

Japan remains one of Vietnam’s largest economic partners, with bilateral trade exceeding $50 billion last year. It is also Vietnam’s largest provider of official development assistance.

Takaichi highlighted Vietnam’s growing role in global manufacturing, citing production of Apple AirPods and Nintendo Switch devices, as part of efforts to encourage renewed Japanese investment.

She is scheduled to travel to Australia next, where she will meet Prime Minister Anthony Albanese to mark the 50th anniversary of bilateral relations and upgrade ties to a “special strategic partnership.”

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260503010000231

A former executive at Live Nation, the world’s largest live entertainment company, is suing the company, alleging that he was wrongfully terminated after he raised concerns about alleged financial misconduct and improper accounting practices.

Nicholas Rumanes alleges he was “fraudulently induced” in 2022 to leave a lucrative position as head of strategic development at a real estate investment trust to create a new role as executive vice president of development and business practice at Beverly Hills-based Live Nation.

In his new position, Rumanes said, he raised “serious and legitimate alarm” over the the company’s business practices.

As a result, he says, he was “unlawfully terminated,” according to the lawsuit filed Thursday in Los Angeles County Superior Court.

“Rumanes was, simply put, promised one job and forced to accept another. And then he was cut loose for insisting on doing that lesser job with integrity and honesty,” according to the lawsuit.

He is seeking $35 million in damages.

Representatives for Live Nation were not immediately available for comment.

The lawsuit comes a week after a federal jury in Manhattan found that Live Nation and its Ticketmaster subsidiary had operated a monopoly over major concert venues, controlling 86% of the concert market.

Rumanes’ lawsuit describes a “culture of deception” at Live Nation, saying its “basic business model was to misstate and exaggerate financial figures in efforts to solicit and secure business.”

Such practices “spanned a wide spectrum of projects in what appeared to be a company-wide pattern of financial misrepresentation and misleading disclosures,” the lawsuit states.

Rumanes says he received materials and documents that showed that the company inflated projected revenues across multiple venue development projects.

Additionally, Rumanes contends that the company violated a federal law that requires independent financial auditing and transparency and instead ran Live Nation “through a centralized, opaque structure” that enables it to “bypass oversight and internal checks and balances.”

In 2010, as a condition of the Live Nation-Ticketmaster merger, the newly formed company agreed to a consent decree with the government that prohibited the firm from threatening venues to use Ticketmaster. In 2019 the Justice Department found that the company had repeatedly breached the agreement, and it extended the decree.

Rumanes contends that he brought his concerns to the attention of the company’s management, but his warnings were “repeatedly ignored.”