GLOBAL MARKETS: Virgin airline could face strike
Britain’s Virgin Atlantic could face industrial action from some of its pilots after a union representing more than half of them said it is preparing to ballot members over strike action.
The airline has refused to negotiate with the Professional Pilots Union in a deal over benefits, the union says.
Disney’s marvellous profits
Walt Disney Co results beat Wall Street estimates on Thursday thanks to summer crowds that swarmed into its theme parks and filled theatres showing Marvel movie Ant-Man and the Wasp. It also revealed plans for a new Star Wars video series for its forthcoming streaming service, which it has named Disney+.
Overall revenue in the quarter rose 12% to $14.3bn, above analysts’ average estimate of $13.73bn. Net income climbed 33% to $2.3bn and adjusted earnings per share of $1.48 beat analysts’ consensus of $1.34, according to IBES data from Refinitiv.