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Disney plans to pay $60 million a year to 66 employees of Character.AI, an AI chatbot startup that has filed for bankruptcy, according to a Chapter 11 filing. It will also set aside $30 million for a retention pool and expects to spend $180 million on compensation and retention over three years. Of the 66 staff offered jobs, 56 have resigned from Character.AI. The other 10 are waiting for US work visa updates. Disney also agreed to pay $20 million for key Character.AI assets, including some intellectual property and technology. Rival bids are open until November 20, and a bankruptcy court judge will oversee the process. In September, Disney hired Character.AI chief executive officer Karandeep Anand as its first company-wide tech chief. The hires came two weeks after Disney laid off several hundred workers.

S&P 500 subdued as gains in banks offset AI jitters; Dow at one-month high. Published on 10/16/2026 at 10:50 am EDT - Modified on 10/16/2026 at 10:51 am EDT Oct 16 (Reuters) - The benchmark S&P 500 was muted on Friday as worries about cracks in the AI trade pressured semiconductor stocks, while gains in banks limited overall declines. The S&P 500 information technology was the biggest drag on the index, down 0.9%. Nvidia-backed CoreWeave slipped 7.6% on lingering concerns about the data centre operator's debt load. Its bonds sold off sharply this week, pushing yields to above 15%. Other neocloud firms Nebius Group and Iren dipped over 5.5% each. Semiconductors lost ground once again, with Micron Technology down 3.9% and Advanced Micro Devices off 3.3%. The broader chips index lost 1.8%, set for the steepest 8-session percentage decline since the "Liberation Day" selloff in April 2025. Most megacap stocks were also lower, with Alphabet and Meta down 1% each and weighing on the communication services sector. These losses pressured the Nasdaq. A pullback in memory chip stocks earlier this week on rising fears of Chinese competition and concerns over CoreWeave's debt "provided investors with an excuse to cut their exposure to all AI-adjacent companies," said David Morrison, senior market analyst at Trade Nation. "There's still some caution out there. If it is just a touch of profit-taking after yesterday's rebound, or something more serious... time will tell," said Morrison. Adding to concerns around AI financing, some current Anthropic investors and prospective investors are weighing a lower valuation for the company in its upcoming IPO, Reuters reported, citing people familiar with the matter. At 10:24 a.m. ET, the Dow Jones Industrial Average rose 221.78 points, or 0.43%, to 52,401.89, the S&P 500 lost 7.30 points, or 0.09%, to 7,736.76 and the Nasdaq Composite lost 185.88 points, or 0.70%, to 26,527.14. On the flip side, most other S&P 500 sectors rose. Materials was the biggest percentage gainer, rising 1.6%, while financials rose 1.1%. Gains in Goldman Sachs and JPMorgan Chase lifted the Dow to its highest level in over a month. Tesla gained marginally after unveiling a redesigned Roadster, powered by rocket-style thrusters, developed in collaboration with SpaceX. The S&P 500 and the Nasdaq were set to post weekly losses as the AI-led rout, mixed bank earnings and inflation data weighed on sentiment through the week. The Dow, meanwhile, was poised for a weekly advance. Hotter-than-expected consumer and producer inflation reports this week have confirmed that price pressures are extending beyond energy products. Federal Reserve Chair Kevin Warsh also noted that a spending surge was boosting inflation, but the US economy remained resilient and benefited from an AI-driven investment boom. Markets increasingly expect the Fed to keep interest rates unchanged this month. Among others, Varonis Systems climbed 2.8% as Thoma Bravo's Proofpoint agreed to buy the data security firm in a $6.3 billion all-cash deal. Netflix appointed former Disney executive Peter Rice as chief content officer on Thursday. Its shares were down 2.3%. Advancing issues outnumbered decliners by a 1.87-to-1 ratio on the NYSE and by a 1.12-to-1 ratio on the Nasdaq. The S&P 500 posted 15 new 52-week highs and no new lows, while the Nasdaq Composite recorded 40 new highs and 119 new lows. (Reporting by Tharuniyaa Lakshmi and Purvi Agarwal in Bengaluru, additional reporting by Vidya Ranganathan; Editing by Joyjeet Das and Shinjini Ganguli) By Tharuniyaa Lakshmi and Purvi Agarwal (C) Reuters - 2026

Banana Ball returns to Walt Disney World in April 2027 for four-game event at ESPN Wide World of Sports. LAKE BUENA VISTA, Fla. - The wildly popular Savannah Bananas and their entertainment-filled brand of baseball are returning to Walt Disney World Resort in 2027, bringing four days of Banana Ball excitement to ESPN Wide World of Sports Complex from April 15-18. The announcement came Thursday during the "Banana Ball Selection Show" on ESPN2, where organizers unveiled their 2027 schedule, including the Banana Ball Open at Disney. The four-game event will feature all six Banana Ball teams, with four squads competing head-to-head during the event. Known for combining baseball with music, dancing, comedy and unexpected moments, Banana Ball has become a nationwide sensation by transforming traditional baseball into a fast-paced, interactive entertainment experience that puts fans at the center of the action. The 2027 event will mark Banana Ball's second appearance at Walt Disney World. Earlier this year, ESPN Wide World of Sports Complex hosted two games that attracted packed crowds and delivered the high-energy atmosphere that has helped make the Savannah Bananas one of the most recognizable attractions in sports entertainment. Fans hoping to attend next April's event can enter the ticket lottery now through October 31 at BananaBall.com. Tickets start at $35. The return to Central Florida comes as Banana Ball continues expanding its national presence, with games scheduled at major sports venues across the country and growing partnerships with Disney and ESPN. Disney also announced a new music-driven Banana Ball documentary scheduled to premiere on Disney+ and Hulu in fall 2027. The documentary will explore Banana Ball's 10-year journey from its beginnings in Savannah, Georgia, to becoming a national entertainment phenomenon known as "The Greatest Show in Sports." The film will highlight the players, personalities, fans and community that have contributed to its success. Directed by David Beilinson, the documentary will feature 11 original songs from award-winning songwriters Benj Pasek and Justin Paul, along with contributions from several other prominent music industry collaborators. The upcoming event and documentary are part of an expanding relationship between Banana Ball and Disney that has included live game broadcasts on ESPN and Disney+, appearances by Savannah Bananas players on Disney-owned television programming, and special events at Disney destinations. With its combination of athletic competition, unpredictable entertainment and fan participation, Banana Ball's return to ESPN Wide World of Sports is expected to generate significant interest among Central Florida residents and visitors. Fans interested in attending the April 15-18, 2027, Banana Ball Open at Walt Disney World are encouraged to enter the ticket lottery before the October 31 deadline at BananaBall.com.