Disney to layoff thousands: report

After announcing a plan to slash nearly 7,000 jobs, Disney is reportedly instructing managers to propose budget cuts and put together lists of employees to be laid off in the coming weeks.

Federal Reserve to raise interest rates next week

The Dow Jones Industrial Average slumped more than 900 points Friday as another sharp sell-off led by technology stocks added to Wall Street's losses in April, leaving the S&P 500 with its biggest monthly skid since the start of the pandemic. Traders continue to fret about the tough medicine the Federal Reserve is using in its fight against inflation: higher interest rates.