Core Insights - Disney's first-quarter earnings for 2026 exceeded expectations, with revenue of $25.98 billion and adjusted earnings per share (EPS) of $1.63, surpassing analyst estimates [1][1][1] - The company's Experiences unit, which includes theme parks, reported over $10 billion in quarterly revenue for the first time [1][1][1] - Despite strong first-quarter performance, Disney's second-quarter forecasts indicate modest operating income growth for theme parks due to a decline in international tourist visits to the U.S. [1][1][1] Financial Performance - Disney's first-quarter revenue was $25.98 billion, above the expected $25.74 billion [1][1] - Adjusted EPS was $1.63, exceeding Wall Street's estimate of $1.57 by 6 cents [1][1] - The Experiences unit's revenue surpassed $10 billion for the first time, contributing significantly to overall earnings [1][1] Box Office and Streaming Success - Disney's box office hits, Zootopia 2 and Avatar: Fire and Ash, each grossed over $1 billion globally [1][1] - ESPN, Disney's sports channel, captured more than 30% of all sports viewership across networks, indicating strong performance in streaming services [1][1] Challenges Ahead - The forecast for the second quarter suggests modest growth in theme park operating income, attributed to reduced international tourist visits [1][1] - CEO Bob Iger noted that international visitors typically stay in Disney hotels less frequently, prompting a shift in marketing efforts towards a domestic audience [1][1] - Factors contributing to the decline in foreign tourism include immigration policies and tariffs under the previous administration [1][1]

This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Dive Brief: The construction industry will need to attract an estimated 349,000 net new workers to keep up with demand this year, according to data from Associated Builders and Contractors. That number is set to rise to 456,000 in 2027, as spending growth is poised to resume. That gap is certainly sizable, but it also represents a precipitous drop. In 202 ...

Texas Governor Greg Abbott ordered state agencies and public universities to immediately freeze new H-1B visa petitions, curtailing a program that has also been overhauled by President Donald Trump. Abbott said the visa program — which is widely used by public universities to hire skilled foreign employees — has been used in ways that disadvantage American workers. The halt, which doesn't affect private-sector companies, will last through May 31, 2027, the end of the state's next legislative session.“State ...

Core Viewpoint - JPMorgan Chase CEO Jamie Dimon publicly criticized President Trump's immigration policies, marking a rare instance of corporate leadership dissent against the administration's approach [1][5]. Group 1: Immigration Policy Impact - Dimon acknowledged the reduction in illegal crossings at the U.S.-Mexico border, which fell to the lowest level in 50 years from October 2024 to September 2025 [2]. - He expressed concern over the aggressive tactics used by U.S. Immigration and Customs Enforcement (ICE), highlighting the negative impact of such actions on communities [3][6]. - Dimon emphasized the importance of immigration reform for U.S. economic growth, advocating for a more humane approach to immigration enforcement [3][6]. Group 2: Corporate Leadership and Political Climate - Unlike during Trump's first term, corporate leaders have largely refrained from publicly criticizing his policies, likely due to fears of retribution from the administration [5]. - Dimon's comments reflect a shift in corporate attitudes, as he openly questioned the implications of ICE raids and the treatment of individuals involved [6].

Core Viewpoint - The Trump administration's implementation of a $100,000 fee on new H-1B visa applications has been upheld by a federal judge, posing challenges for US technology companies that depend on skilled foreign labor [1][2]. Group 1: Legal Ruling and Implications - US District Judge Beryl Howell ruled that the increase in H-1B visa fees is lawful, supporting the administration's immigration restrictions and promoting the demand for US workers [2]. - The ruling allows the Trump administration to proceed with the fee, which the US Chamber of Commerce argues makes H-1B visas prohibitively expensive for businesses [3][4]. - Howell's decision indicates that the President has broad authority to address perceived economic and national security issues through such measures [2]. Group 2: Opposition and Ongoing Legal Challenges - The US Chamber of Commerce plans to appeal the ruling, emphasizing the need for the H-1B visa program to function as intended by Congress, allowing businesses to access global talent [3]. - A coalition of 19 state attorneys general is also contesting the fee, focusing on its potential negative impact on public sectors like healthcare and education that rely on H-1B visas [5]. - Other lawsuits are pending, including one from a global nurse-staffing agency, with hearings scheduled that could lead to further legal challenges against the new fee [6][7].

With its budget deficit worsening, California is pulling back on a policy that extended government-supported healthcare to immigrants living in the country unlawfully https://t.co/lCx3JwG2RF ...

People fleeing calamity have a right to seek safety—but that does not mean access to a rich country’s labour market https://t.co/QtUf37GpyD ...

Economic Outlook & Monetary Policy - The Fed's shift towards easier monetary policy, including ending quantitative tightening and leaning towards lower interest rates, is expected to inject liquidity into markets, potentially driving up asset prices [1] - The current GDP growth of approximately 4% is considered strong, comparable to Asian economies, while job weakness is attributed to foreign-born workers returning home, with American worker numbers remaining solid [1] - The Fed's actions are often perceived as benefiting Wall Street, creating a reverse Robin Hood effect where economic crises benefit the wealthy who own assets [3] - The Fed aims for a 2-3% inflation rate to avoid upsetting voters and facing potential congressional intervention, limiting its ability to print excessive amounts of money [2] AI & Technology - AI is currently in a bubble phase, similar to the dot-com era, with potential for further growth due to easy money funding new technologies [1] - AI is not primarily impacting blue-collar jobs but rather white-collar cubicle workers in IT, customer service, accounting, and HR [6] - The AI bubble is still in its early stages, focusing on semiconductor companies like Nvidia and Taiwan Semiconductor, with the "stupidity" phase of malinvestments yet to come [5] Immigration & Labor Market - Mass deportations historically lead to 5 to 10 times more people leaving than are actually deported [4] - Immigration does not necessarily solve labor shortages but rearranges wages, potentially crashing wages for low-skilled Americans while raising demand for skilled workers [4] - Removing immigrants can raise wages for low-income individuals and lower wages for high-skilled individuals, with an unclear overall impact on inflation but a reduction in headline GDP [4] Investment Strategies & Asset Bubbles - The big trade right now is AI, which is considered to be in a bubble, but it may have a few years left to run [5] - Gold and silver are driven by liquidity and the debasement trade, betting on a future crisis due to a lack of structural reforms on budget deficits [5] - Bitcoin's momentum is being affected by AI, as speculators are shifting their focus, but its debasement argument remains strong [5] Social & Political Commentary - Communism resonates most with elite kids who are losing status, driven by factors like deportations and the impact of AI on white-collar jobs [6] - Government interference often leads to negative consequences, and the battle between freedom and socialism is a constant one [13][14] - UBI may disincentivize work and reinforce poverty, potentially becoming politically appealing during the next recession due to AI-related job losses [7][8][9][10][11][12]

Work permits issued to immigrants who have applied for asylum or a range of other humanitarian programs will now be valid for 18 months rather than five years, under a new policy announced by the Trump administration https://t.co/3SGuQlAJAF ...

Uh the new Gallup poll out today is terrible news for the president. Just absolutely terrible. His approval rating right now is minus 24. The president is 24 points underwater in his approval rating.36% of the country approves of him. 60% disapproves. Just absolutely stunning.uh you know, not even one year in and on the issues it's even worse. It just it's worse just because it's so relentlessly bad for him. No ray of light anywhere here.Do you approve of President Trump on the issue of crime. No, by a nine ...