The daily business briefing: August 5, 2019

Hobbs & Shaw has a phenomenal opening weekend, HSBC CEO to step down after 18 months, and more

Dwayne Johnson and Jason Statham
(Image credit: Kevin Winter/Getty Images)

1. Hobbs & Shaw dethrones The Lion King at the top of the box office

The Dwayne Johnson and Jason Statham action flick Hobbs & Shaw was No. 1 at the box office this weekend, bringing in an estimated $60.8 million in North America. The Fast & Furious spin-off also had a strong opening abroad, with about $120 million in ticket sales. In its third weekend in theaters, the live action film The Lion King fell to the No. 2 spot, with an estimated $38.2 million; the movie has made almost $1.2 billion globally. Quentin Tarantino's Once Upon a Time in Hollywood came in third place, earning an estimated $20 million, followed by Spider-Man: Far From Home with an estimated $7.8 million and Toy Story 4 with an estimated $7.2 million.

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