It is unlikely to be the Disney story that sticks most people’s minds this week, given yesterday’s tragic events in Orlando, but, the Mickey Mouse firm has officially opened the Shanghai Disney Resort.
Opening the US$5.5bn theme park and hotel complex was described by the New York Times as a ‘hard fought victory’ while Disney chief executive Robert Iger said (in Mandarin) that it was a “dream come true’.
US president Barrack Obama, in a letter read aloud by Iger, highlighted that the tourist attraction reflected the promise of America’s bilateral relationship with China.
It comes a day after a two year child died following an attack by an Alligator at a man-made lagoon close to a Disney hotel in Orlando’s Disney World.
Elsewhere, Twitter was being looked at again after it made some noise with a US$70mln investment into streaming app SoundCloud and as investors continue to dissect what Microsoft’s move for LinkedIn means for the social network.
Here in the UK, the narrative of course remains fixed on the EU in-out debate, and the apparently looming Brexit.
On the London Stock Exchange online clothes retailer N Brown (LON:BWNG)was a focal point – rising more than 7% despite reporting lower revenue amid falling demand for womenswear and shoes.
The Jacamo and Simply Be owner, which has traditionally focussed on catalogues, highlighted that it was increasing its online sales penetration and 76% of new customer demand came from the internet in the period, up 8%.
Xcite Energy Limited (LON:XEL) was among AIM’s biggest fallers after it asked to have its bond expiry extended to the end of September. It alternatively faces a US$135mln call in just two weeks’ time. In the meantime it is negotiating a possible restructuring which would see some debt swapped for equity.
Online video group Blinkx Plc (LON:BLNX) revealed plans to relaunch with a new name, RhythmOne Plc. The name change comes at a “pivotal and exciting time” according to boss Brian Mukherjee, who added that it could become a “stand-out leader in the digital advertising landscape."