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France 24

Business

Yuka ROYER

Disney lays off Marvel Entertainment's chairman amid cost-cutting drive

Disney Marvel Entertainment Inflation Portugal

BUSINESS DAILY © FRANCE 24

Disney has laid off Isaac ("Ike") Perlmutter, the head of Marvel Entertainment, as part of its cost-cutting plans. The company began cutting 7,000 jobs this week in an effort to reduce $5.5 billion in costs. Also, Portugal scraps VAT on basic food products in a bid to fight inflation. Plus, the man who invented mobile phones half a century ago tells people to take their eyes off their smartphones.

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