ADVERTISEMENT
ADVERTISEMENT

SeaWorld has reached a $65 million settlement agreement to end a 2014 class-action civil lawsuit that accuses the company of misleading investors over the damage from the "Blackfish" documentary.

The settlement revealed Tuesday comes as SeaWorld seeks to move forward after years of scrutiny over its orca habitats, turnover in the chief executive position and declining attendance. SeaWorld has seen high turnover among executives in recent years. Many of the leaders named in the lawsuit left years ago.

In the filing, SeaWorld does not admit any wrongdoing and the settlement must still be approved by the courts.

The 2013 "Blackfish" documentary brought long-standing criticisms of keeping whales in captivity into the mainstream and told the story of Dawn Brancheau, a beloved Orlando trainer who was killed in 2010 by Tillikum, one of the park's largest orcas.

In the lawsuit filed in California, a group of investors accused SeaWorld executives of ignoring and denying the film's backlash as attendance tumbled at the theme parks.

 

Lyft losses double to $2.6 billion in 2019

Ride-hailing service Lyft is sticking with its prediction that it will be profitable by the end of next year. This while its annual loss more than doubled in 2019 to over $2.6 billion.

But the San Francisco company's annual revenue jumped 68% and ridership grew.

Lyft's prediction of a profit in the fourth quarter of 2021 is a year behind rival Uber, which earlier this month said it would make money in the fourth quarter of this year.

The static profit guidance from Lyft disappointed investors. Its shares dropped 5.6% in extended trading Tuesday to $50.92 after the company released its fourth-quarter and full-year numbers.

Lyft is predicting another big revenue gain this year, with a narrower adjusted pretax loss of $450 million to $490 million. Last year the company lost $678.9 million before taxes.

Lyft said its annual revenue grew to $3.62 billion, up from $2.16 billion in 2018.

 

Open jobs fall 5.4% last month

U.S. businesses sharply cut the number of jobs they advertised in December for the second straight month, an unusual sign of weakness in an otherwise healthy job market.

The number of available positions dropped 5.4% to 6.4 million, a historically solid number, the Labor Department said Tuesday. There are still more open jobs than there are unemployed people, an unusual situation that has persisted for nearly two years. Before that, the ranks of those out of work exceeded the number of open jobs.

Still, the total of available jobs has fallen by more than 1 million in the past year, the biggest annual drop since the Great Recession. Most of that decline has occurred in just the past two months. Job openings are now at the their lowest level in two years.

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT