The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
While the UAW has rejected the offer and sent roughly 48,000 of its workers out on strike, the EV truck is widely expected to remain part of an eventual settlement.Autosread more
While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
The new chief of the Federal Aviation Administration says he plans to test out Boeing's software changes to the 737 Max in a simulator.Airlinesread more
Disney shocked the tech and media worlds on Thursday when it announced that its streaming video subscription would cost $6.99 per month or $69.99 per year — significantly less than Netflix or Amazon Prime currently cost. There were gasps at Disney's launch event when it revealed the price.
But the company that might need to make the most changes in response to the Disney+ product is Apple.
Last month Apple said that it will release its streaming video service, Apple TV+, this fall. The subscription service will include exclusive original shows, movies and documentaries produced by Apple. The company is spending billions of dollars on stars like Oprah Winfrey, Steve Carell, Jennifer Aniston and Steven Spielberg.
But no matter how well Apple's shows and movies end up being received, there's no way that it can compete with the lineup of content that Disney has assembled for Disney+, which will put pressure on Apple to undercut Disney's price or give its shows away for free, as was once the company's strategy, CNBC first reported in October.
"While there is uncertainty in the broader media landscape ... we believe Disney is in the best position to succeed given its unmatched arsenal of content, well recognized global brand and impressive marketing arm," J.P. Morgan analyst Alexia Quadrani wrote in a note distributed Friday.
Disney's service will have significantly more robust content than previously expected, the JPM analysts wrote, including the entire Pixar library, a selection of Marvel shows, "Star Wars" movies and "The Simpsons." That's in addition to original content Disney is creating as well. "It's called back catalog," RBC technology analyst Mark Mahaney told CNBC.
Compare that with Apple's 35 or so original shows and movies: A handful of series, none of which are major existing franchises, that Apple is bankrolling from scratch. A TV comedy called "The Morning Show" and an anthology produced by Steven Spielberg called "Amazing Stories" are Apple's flagship scripted shows. Apple isn't expected to buy licenses for third-party content like Netflix does.
There are some huge names attached to Apple productions, but even if Apple's shows wildly exceed expectations, it's still going to take years to build up fanbases like Disney's properties.
Apple hasn't revealed a price or release date for Apple TV+, which will enable it to pivot in response to Disney if it wants. Apple hasn't even confirmed if it will charge for Apple TV+, although the company's marketing language strongly suggests it will. Apple's two current content subscriptions, for news and music, both cost $10 per month.
Consumers are already complaining that they pay for too many content subscriptions. People could end up passing on Apple for Disney's superior content, especially if it ends up being less expensive than Apple.
Apple could end up returning to its original content plan: Giving away shows for free as part of its digital TV strategy, and creating a platform to charge viewers for subscriptions to legacy media companies, including Disney.
Apple and Disney have historically been eager to partner with each other. Disney CEO Bob Iger is on Apple's board of directors, and he said Thursday that Disney+ will most likely be available on Apple devices, including its TV box. (Iger also said he recuses himself from all discussions about streaming services at Apple.)
In that scenario, Apple would be able to focus on one of its core strengths: Building a platform for other companies to reach the masses of Apple users, best summed up by Oprah Winfrey at Apple's TV launch: "They're in a billion pockets, y'all."