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Netflix co-founder Reed Hastings is leaving the streaming service he co-founded 29 years ago, as the company regains its footing after losing a $72 billion deal for Warner Bros Discovery to Paramount Skydance.In a letter to investors released on Thursday, Netflix said Hastings will not stand for re-election at its annual meeting in June and plans to focus on philanthropy and other pursuits.The company's stock plunged about 8 percent on the news of Hastings's departure. The co-founder is credited with helping to revolutionize how movies and television shows are delivered in homes, upending Hollywood's business model.“Netflix is growing revenues double-digits, expanding margins in 2026 and gushing free cash flow,” said LightShed Partners media analyst Richard Greenfield. “While the Q1 was uneventful financially, the departure of Reed Hastings has spooked investors.”Netflix reaffirmed in a 14-page shareholder letter that its mission remains “ambitious and unchanged” – to entertain the world, providing movies and series for many tastes, cultures and languages. The company’s full-year outlook remained unchanged.The company did not say how it plans to spend the $2.8 billion termination fee it received after losing the Warner Bros movie studio and HBO, and lifted its earnings per share to $1.23 in the first quarter compared with 66 cents per share in the same quarter last year.Revenue rose to $12.25 billion, an increase of 16 percent from the year-ago period, modestly exceeding analyst forecasts of $12.18 billion.Netflix, which long told investors that a Warner Bros acquisition was a “nice to have, not need to have” proposition, highlighted areas of future growth.The company said its investment in expanding its entertainment offerings, with video podcasts and live entertainment – such as the World Baseball Classic in Japan – is driving engagement.It plans to use technology to improve the user experience and improve monetization, as advertising revenue remains on track to reach $3 billion in 2026 – a twofold increase from a year ago.

In the rugged Hindu Kush mountains of eastern Afghanistan, hundreds of men are scouring the rocky Kunar riverbed for precious gold dust, creating a livelihood amid limited economic options.Against the backdrop of towering peaks, some still snow-capped in April, workers labour near the Pakistan border, seeking valuable flecks that could change their fortunes in a country plagued by low wages.Near Kharwalu village in Kunar province – with its mud-brick homes and terraced wheat fields – men excavate dry sections of the riverbed before washing their rocky hauls with river water.Delawar, 45, joined these gold prospectors after leaving his construction job seven hours from his Kabul home. “There are not many job opportunities in the country, and in this way, we have created work for ourselves,” said the father of eight who uses only one name.“The gold nuggets we find are usually smaller than a grain of wheat,” he added.In nearby Ghaziabad, hundreds chip away at the mountainside with picks, carrying heavy sacks down steep slopes to empty onto sieves for gold filtration.Others use yellow jerrycans attached to long wooden handles to pour river water over sieves, allowing smaller, potentially gold-bearing stones to slide onto mats. After two additional siftings, gold nuggets occasionally appear in metal pans.Gul Ahmad Jan, 35, claims the work can be lucrative. “We can get up to about 1gm of gold,” worth approximately 8,000 Afghani ($125) in just one week, he said.Afghanistan’s natural resources remained largely unexploited during decades of conflict, though a Kunar official told the AFP news agency that gold panning has occurred there for more than 10 years.

Reed Hastings, the co-founder of Netflix, is leaving the streaming service's board of directors after 29 years. Hastings will not stand for re-election at the company's annual meeting in June and plans to focus on philanthropy and other pursuits.In a letter to investors, Netflix said Hastings' decision to step down is not a result of any disagreement with the company. The company's stock dropped about 8% on the news of Hastings' departure.Hastings co-founded Netflix in northern California and led it through its pivot from a mail-order DVD company to a leading streaming TV service. He stepped down as CEO in 2023.Netflix reaffirmed its mission to entertain the world, providing movies and series for many tastes, cultures, and languages. The company's full-year financial outlook remained unchanged. Revenue rose to $12.25 billion, an increase of 16% from the year-ago period, modestly exceeding analyst forecasts.The company plans to use technology to improve the user experience and monetization, with advertising revenue on track to reach $3 billion in 2026, a twofold increase from a year ago. Netflix also highlighted areas of future growth, including video podcasts and live entertainment.

Eddie Howe finds himself under unprecedented pressure as April brings a familiar sting: Newcastle United sit 14th in the Premier League with only six games left to convince the board that his tenure should continue. The club’s hierarchy, led by sporting director Ross Wilson and chief executive David Hopkinson, faces a stark financial reality. To stay within European and Premier League spending rules, Newcastle will likely need to sell at least one, possibly two, of Sandro Tonali, Anthony Gordon and Tino Livramento before the September transfer window. If the team fails to qualify for Europe, all three may demand exits. Last summer’s transfer activity has drawn criticism. The £125 million received from Alexander Isak’s sale to Liverpool was funneled into a £220 million spending spree on Nick Woltemade, Yoane Wissa, Anthony Elanga and Jacob Ramsey. Yet all four starters began the season on the bench, and Newcastle have lost 25 points from winning positions this campaign, including a 2‑1 defeat to Crystal Palace. Adding to the woes, Woltemade – a £69 million acquisition – appears ill‑suited to Howe’s preferred 4‑3‑5 formation. Despite scoring ten goals, his size and pace make him more of a deep‑lying No 10 than a traditional centre‑forward, forcing him to operate in midfield. Howe’s tactical rigidity is also under scrutiny. His high‑pressing, counter‑attacking 4‑3‑3 system, which delivered Champions League spots and a Carabao Cup triumph in previous seasons, now seems predictable. Opponents have adapted, and Newcastle have kept only three clean sheets in their last 25 league matches, often burning out after the 75‑minute mark. Critics point to a lack of fresh ideas within the coaching staff. Howe’s long‑standing backroom team, headed by assistant Jason Tindall, has remained largely unchanged since their Bournemouth days, potentially fostering a “group‑think” mentality. Former defender‑turned‑analyst John Anderson argues that “a fresh pair of eyes” could rejuvenate the squad, citing Sir Alex Ferguson’s practice of periodically bringing in new coaches. The club’s Saudi owners, already displeased by recent defeats to promoted Sunderland, may be reconsidering the level of autonomy granted to Howe and his nephew Andy Howe in player recruitment. The upcoming match against Bournemouth holds added significance, as Howe has never beaten his former club in a league encounter. Ultimately, Howe’s future hinges on two factors: his willingness to cede some control over recruitment and his ability to embrace new coaching perspectives. Even a short‑term revival in the next six games could restore boardroom confidence, but a failure may end his five‑year spell at St James’ Park.

Budget airline easyJet has issued a profit warning, citing the impact of the Iran conflict on fuel prices and bookings. The airline has seen fuel costs rise by £25m in the last month alone, driven by the escalating tensions in the Middle East.EasyJet expects to report an increased pre-tax loss of £540-£560m for the six months to March, up from £394m in the first half of 2024-25. The carrier typically generates most of its revenue in the second half of the year, which includes the peak summer period.The airline has hedged 70% of its fuel needs for the rest of the financial year to September, but each $100 movement in the spot price of jet fuel per metric tonne adds £40m in costs for its unhedged supply. Currently, the price is about $800 higher than before the conflict started.Chief executive Kenton Jarvis said demand remained strong in the short term, but customers were leaving it later to book due to economic uncertainty. However, he assured that fuel supplies remained normal and that any talk of having to cancel flights was pure speculation.Jarvis added that there was continued positive demand, but easyJet's financial performance had worsened year on year, impacted by the conflict in the Middle East and the competitive environment in some markets. Shares fell 3% in early trading.

England has taken a significant step towards qualifying for the FIFA Women's World Cup 2027 after Lauren Hemp's early goal secured a 1-0 win over defending champions Spain at Wembley Stadium in London.The victory marked England's third successive win, moving them above Spain to the top of group A3. Only the winners from each of the League A groups will earn direct passage to next year's tournament in Brazil.The match saw England take the lead in just three minutes as Alessia Russo set up Hemp, who scored past Cata Coll. Spain threatened an equaliser, with Irene Paredes heading just over, but Hannah Hampton's crucial saves preserved England's lead.The win also celebrated Keira Walsh's 100th England cap and honoured Euro 2022-winning goalkeeper Mary Earps in an international retirement ceremony.In other matches, Norway thrashed Slovenia 5-0 and Germany remained unbeaten with a 5-1 victory over Austria. The Netherlands took the lead in Group A2 with a 2-1 win over France, while Denmark took control of Group A1 with a last-gasp 2-1 victory over Sweden.

Wall Street climbed to a fresh all‑time high on Wednesday as investor confidence rose on the prospect that the US‑Israel war with Iran could soon end.The benchmark S&P 500 closed at 7,022.95, breaking the 7,000‑point barrier for the first time and posting a 0.8% gain. The tech‑heavy Nasdaq surged 1.6% to 24,016.02, also a record, while the Dow Jones Industrial Average remained broadly flat.This rally has erased the steep losses recorded during the early weeks of the conflict, buoyed by the two‑week cease‑fire deal announced last week between the United States and Iran.In a Wednesday interview, former President Donald Trump told Fox Business the war was “very close to over,” a statement that lifted trader sentiment.The White House later clarified it had not requested an extension to the cease‑fire, which is set to expire on 22 April, but said negotiations were “productive and ongoing.”Quarterly earnings from Bank of America and Morgan Stanley beat market estimates, reinforcing confidence in the economy. Bank of America CEO Brian Moynihan highlighted strong consumer spending, improving credit quality, and increased corporate line usage.Despite reports that the United States is preparing a naval blockade of the Strait of Hormuz—a chokepoint for roughly a fifth of the world’s oil and gas shipments—the markets stayed upbeat. The Pentagon has deployed 15 warships and thousands of service members to enforce the restriction.Oil markets reacted positively to the cease‑fire news, with Brent crude falling about 10% to around $95 a barrel, though this price remains roughly 35% above pre‑conflict levels.

The British foreign secretary, Yvette Cooper, will urge Sudan's warring parties to 'cease bloodshed' during a major conference on Wednesday, which analysts believe is unlikely to deliver a significant step towards peace.The talks in Berlin – held on the third anniversary of the start of Sudan's ruinous war – are expected to help address a catastrophic funding shortfall that is compounding the world's worst humanitarian crisis.Overall, just 16% of the humanitarian funding needed for Sudan this year has been provided by the international community as the crisis in Iran continues to dominate diplomatic channels.Britain is among the countries attending the conference that are set to announce new funding for Sudan. Cooper will unveil a doubling of UK aid to £15m for Sudanese frontline responders such as the grassroots volunteer network known as Emergency Response Rooms.With the war now entering its fourth year, and with no sign of hostilities abating between the paramilitary Rapid Support Forces (RSF) and the Sudanese army, latest assessments indicate more than 19 million people face acute hunger as a result of the fighting, while some areas are at risk of famine.The latest assessment from the Integrated Food Security Phase Classification (IPC) found 'emergency' levels of hunger across much of North Kordofan, West Kordofan, South Kordofan and North Darfur, while levels in some communities remained 'catastrophic'.It added that emergency levels of hunger were expected to spread over the coming months and that the number of people needing humanitarian aid was expected to reach 22-23 million.Despite the scale of the suffering, Cooper hopes that an end to the fighting is achievable. 'Today, in Berlin, I will call for the international community to join in a shared resolve: to secure a ceasefire and a diplomatic solution, to stop the suffering, and allow the people of Sudan to determine their own peaceful future,' she said.

New research from the Institute for Fiscal Studies (IFS) shows that the Help to Buy mortgage initiatives launched by the Conservative‑Lib Dem coalition in 2013 mainly benefited higher‑income households, rather than the intended first‑time, lower‑income buyers.The policy comprised two components: a taxpayer‑backed loan that reduced required deposits, and a mortgage guarantee scheme that covered part of lenders’ losses on high loan‑to‑value mortgages. Both applied to properties priced up to £600,000 and, by the 2014‑15 fiscal year, accounted for roughly one‑fifth of first‑time buyer transactions.Using a novel methodology that combined survey responses with local property price data, the IFS concluded that the bulk of the advantage accrued to wealthier purchasers—particularly those outside London and the south‑east, where homes are comparatively cheaper. These buyers were likely to secure a property eventually, even without the scheme.Bee Boileau, a research economist at the IFS and co‑author of the briefing, warned that while Help to Buy can theoretically assist newcomers onto the housing ladder, it also risks inflating prices and shifting loan risk onto the public sector. “Our research indicates that the Help to Buy schemes introduced in 2013 had the largest impact – in terms of making more homes affordable – on higher‑income households,” she said.The study notes that the mortgage guarantee scheme had “limited effects on affordability” because borrowers remained constrained by income‑based borrowing caps. Conversely, the loan scheme proved more influential for most households, yet its impact was muted by its restriction to new‑build properties.Both components appear to have had little effect on social mobility. Boileau suggested that future governments aiming to reduce inequality should target assistance at lower‑income families, acknowledging that such a shift would increase taxpayer exposure to loan risk.Critics have long argued that Help to Buy inflated house prices without expanding supply. A 2022 House of Lords built‑environment committee report echoed this view, recommending that funds be redirected toward increasing housing construction.The mortgage guarantee element was revived in 2021 and made permanent by the Labour government last year to preserve access to 95% mortgages. In response, Conservative housing secretary James Cleverly defended the legacy schemes, claiming they enabled “many thousands of people” to achieve homeownership, even as he warned that Labour policies were making the market harder for first‑time buyers.