The daily business briefing: September 20, 2023

Disney says it will invest $60 billion in theme parks, Instacart shares rise in debut, and more

Disneyland
Disneyland
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1. Disney to invest $60 billion in theme parks

The Walt Disney Co. said in a security filing Tuesday that it planned to spend $60 billion over the next decade to expand its theme parks and continue building its Disney Cruise Line. That would be roughly twice as much as the company spent on its domestic and international parks in the last decade, which was considered a period of heavy investment. Disney CEO Robert Iger last month called the parks division "a key growth engine" for the entertainment giant. Disney's theme parks are expected to generate about $10 billion in profit this year, compared to $2.2 billion a decade ago, according to The New York Times. The New York Times

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.