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Trump marks Veterans Day with commemoration in Vietnam

WATCH Trump marks Veterans Day with commemoration in Vietnam

President Donald Trump marked Veterans Day by spending time here with seven American veterans of the Vietnam War, whom he called "great, great warriors" and a "national treasure."

"You are the heroes who fulfill your duty to our nation. And each of you, under the most difficult conditions, did what you had to do, and you did it well," Trump said in an event held on the sidelines of the Asia-Pacific Economic Cooperation Summit (APEC).

"They are definitely tough, smart cookies. We like them," Trump said of the group. "I think they like me too. I'm not sure, but I think they do."

Trump, Putin will not have formal meeting during APEC summit: White House Vietnam seeks reassurances from Trump after his praise for China

Trump, who is making his first visit to Vietnam as president, said the U.S. would not rest until all 1,253 veterans still missing in action from the conflict are recovered and returned home. More than 58,000 Americans lost their lives in the war.

The president signed a proclamation commemorating the 50th anniversary of the Vietnam War, part of a 13-year-long celebration honoring troops which began May 28, 2012 and runs through Nov. 11, 2025.

The Associated Press

"We just want to thank you and all of the thousands and thousands and all of the people that served with you and in all of the other wars," Trump said.

Vietnam is the fourth stop on a five-country tour through Asia that is the longest of an American president in the last quarter century.

"I assume that by now you’re pretty exhausted," Trump said motioning to reporters. "The media must be absolutely exhausted, looking to home. But we have had a tremendous time."

Veterans Day is Nov. 11, the anniversary of the armistice that ended World War I.

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Facebook is planning on opening a new office in central London, according to reports.

The social media giant is in discussions to lease space at the King's Cross Central development, where Google is also based.

According to Bloomberg, Facebook is looking at renting 37,000 sq m (400,000 sq ft) of floor space – although the size of the lease has not been confirmed and it is not certain a deal will be completed as negotiations are continuing.

A spokesperson for developers Argent and a representative of Facebook declined to comment on Bloomberg's report.

Facebook had already signed a deal to lease all of the office space at One Rathbone Square near Soho.

At the time, Facebook's head of real estate said: "(The move) highlights our commitment to invest and grow our talented teams of people based in London, from engineering and analytics to partnerships and design, who help us connect over a billion people on Facebook across the world.

"This is a fantastic opportunity to occupy a high-quality new development in the heart of the West End. The location has excellent amenities and connectivity, with the very best the city has to offer right on the doorstep including Crossrail once it is established."

The investment follows despite suggestions of macroeconomic uncertainty, technology companies have continued to lease offices in London.

Apple plans to move its UK headquarters into Battersea Power Station, which has undergone a multibillion-pound restoration in recent years.

Roughly 1,400 of Apple's staff will be based at the southwest London complex, making it the company's largest premises outside of the US.

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Polish far-right march goes global, drawing people from afar

Fascists and other far-right extremists are set to assemble Saturday in Warsaw for a march that has become one of the largest gatherings in Europe and perhaps beyond for increasingly emboldened white supremacists.

The march held on Poland's Nov. 11 Independence Day holiday has drawn tens of thousands of participants in recent years. Extremists from Sweden, Hungary, Slovakia and elsewhere now join Polish nationalists in a public display of xenophobic and white supremacist views since the event began on a much smaller scale in 2009.

The slogan for this year's event is "We Want God," words from an old religious Polish song that President Donald Trump quoted in July while visiting Warsaw. Trump praised Poland for what he described as the country's defense of Western civilization.

Rafal Pankowski, head of the anti-extremist association Never Again, says that despite the reference to God, the march shouldn't be viewed as inspired by religious beliefs. Far-right "neo-pagans" plan to take part along with Roman Catholic groups.

"We know that Donald Trump is not the most religious man, and I think that most of the organizers are not very religious, either," Pankowski, a sociologist, said. "But they use Christianity as a kind of identity marker, which is mostly about being anti-Islam now."

The Warsaw march has grown so large it might be the world's biggest assembly of far-right extremists, he said.

The organizers include the National-Radical Camp, the National Movement and the All Polish Youth, radical groups that trace their roots to anti-Semitic groups active before World War II.

In a sign of the rally's international reach, American white supremacist Richard Spencer was scheduled to speak at a conference in Warsaw on Friday — until the Polish government said Spencer wasn't welcome in the country. The far-right conference still is being held.

The emergence of Central Europe as a crucible for neo-fascism carries a number of paradoxes. The region, once stuck behind the Iron Curtain, has seen impressive economic growth since Poland, Hungary and other countries threw off communism, embraced capitalism and joined the European Union and NATO.

Few of the Muslim refugees and migrants who have arrived in Europe since 2015 have sought to settle in that part of the continent, preferring Germany and other richer countries in the West. Nonetheless, anti-migrant views run high.

Political scientist Miroslav Mares, an expert on extremism at Masaryk University in the Czech Republic, said Central Europeans hear about attacks by Islamic extremists in France, Germany and England and fear that "beyond the borders is a state of chaos and war" that could envelop them.

While extremist movements often thrive during hard times, the quality of life is better than ever now in a region that has known wars, occupation and oppression.

"Central Europe is living the happiest time in its history," said Grigorij Meseznikov, president of the Institute for Public Affairs, a think tank in Slovakia. "Never was life in this region as prosperous as it is today."

But like others in the era of globalization, many people feel frustrated that the improving economy hasn't benefited them. There are complaints that wages remain much lower than in the West while inequality has grown since the end of communism.

"If you look at Slovakia, the situation 25 years ago was much worse. There was high inflation and unemployment higher than 20 percent, yet we didn't have a fascist party in the parliament," Meseznikov said. "Today, we really have a functioning economy, low inflation, declining unemployment; we are in the EU and NATO. … And nevertheless there are fascists in the parliament."

Mares thinks a lot of the disappointment stems from a tendency by Czechs and their neighbors to compare their financial situations to those of Germans and others in the West, rather than looking east to much poorer Belarus and Ukraine and feeling encouraged by how far they have come.

The frustrations, combined with a souring mood toward established elites, have helped far-right parties in recent elections in Germany, Austria and the Czech Republic. In Poland and Hungary, right-wing governments promote tough anti-migrant policies and historical whitewashing to glorify their nations.

Meseznikov also sees Russia's encouragement of anti-European Union and anti-American views that spread on social networks as part of a "toxic mixture" behind the growth of the far-right.

It could be years before the tide ebbs and reverses, according to Pankowski, the Polish expert.

Sociological data show that the generation of Poles that only has known democracy is more prone to xenophobic and far-right nationalism than their parents' generation, with younger Poles paradoxically "turning their backs on democratic values," he said.

"I think many of them will keep those far-right views inside them for decades to come," Pankowski said. "It's not an issue that will disappear."

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The parents speak out after, they say, their 3-year-old died after having an allergic reaction to the cheese.
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Ex-British double agent says Russian spies must save world

A former British intelligence officer who once worked as a double agent for the Soviet Union said Russian spies now have "the difficult and critical mission" of saving the world, according to a statement released Friday.

George Blake has lived in Russia since his escape from a British prison in 1966. He turns 95 on Saturday.

Blake said in a statement that the Russian Foreign Intelligence Service must "save the world in a situation when the danger of nuclear war and the resulting self-destruction of humankind again have been put on the agenda by irresponsible politicians."

"It's a true battle between good and evil," he said in comments released by the intelligence service, or SVR, and carried by Russian news agencies.

Blake also said terrorism has "left bloody traces in many corners of the world."

SVR said that Blake was not available to interview on Friday. His last in-person interviews were in 2012 for a documentary by a Russian state television station and for a Russian government daily.

Born in the Netherlands, Blake joined British intelligence during World War II. He was posted to Korea when the war there erupted in 1950 and was detained by the Communist North. He said he volunteered to work for the Soviet Union after witnessing relentless U.S. bombing of North Korea.

In Friday's statement, Blake emphasized again that he decided to switch sides after seeing civilians massacred by the "American military machine."

"I realized back then that such conflicts are deadly dangerous for the entire humankind and made the most important decision in my life — to cooperate with the Soviet intelligence voluntarily and for free to help protect peace in the world," Blake said in the Russian statement.

He added that Russia has become his "second motherland," and thanked SVR officers for their friendship and understanding.

"I believe that you will serve our common cause selflessly and courageously," he said to SVR officers. "I believe in the final victory over the treacherous enemy. This belief has given me strength."

As a double agent, Blake passed some of the most coveted British secrets to the Soviet Union, including a Western plan to eavesdrop on Soviet communications from an underground tunnel into East Berlin.

SVR chief Sergei Naryshkin congratulated Blake on his birthday, saying Blake had been a role model for the agency's officers.

A Polish defector exposed Blake as a spy for Russia in 1961. He was convicted on spying charges in Britain and sentenced to 42 years in prison. In October 1966, he made a dashing escape with help from several people he met while in custody.

Blake spent two months hiding at his assistant's place and was then driven across Europe to East Berlin inside a wooden box attached under a car.

Blake said in a 2012 interview with the Russian government newspaper that he had adapted well to life in Russia. He once joked he's like a "foreign-made car that adapted well to Russian roads."

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The Latest: Italy to phase out coal for electricity by 2025

The Latest on a global climate conference in Bonn, Germany (all times local):

2:05 p.m.

The Italian government says the country will phase out the use of coal for national electricity needs by 2025 as part of developing a sustainable and competitive energy strategy.

Premier Paolo Gentiloni, flanked by his environment and economic development ministers, announced the plan Friday at a Rome signing ceremony of the National Energy Strategy.

The plan calls for investments of 175 billion euros ($204 billion) through 2030 in infrastructure, renewable energy and energy efficiency development.

According to government statistics, carbon provided 16 percent of Italy's national electricity in 2015.

Economic Development Minister Carlo Calenda said local and regional authorities must come on board the government's plan to reach zero percent by 2025.

The energy strategy sets goals of decreasing carbon emissions from energy 39 percent by 2030 and 63 percent by 2050.

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10:30 a.m.

Environmental activists have staged a protest at a German coal-fired power plant to highlight the country's continued use of heavily polluting fossil fuels.

Protesters projected images of Pacific islanders threatened by climate change onto the cooling tower of the lignite-fuelled power station in Neurath, western Germany, early Friday.

The stunt, organized by representatives of Pacific island nations and environmental group Greenpeace, takes place as diplomats from around the world meet in nearby Bonn to discuss implementing the Paris climate accord.

The German government claims to be a leader in the fight against climate change but has refused to set a date for phasing out the use of coal, which emits large amounts of the greenhouse gas carbon dioxide when burned.

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The Latest: Jenny McCarthy says Steven Seagal harassed her

The Latest on sexual harassment and abuse allegations against men in the entertainment and media industries (all times local):

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5 a.m.

Jenny McCarthy says actor Steven Seagal sexually harassed her during an audition in 1995.

The former Playboy model recounted her encounter with Seagal during a tryout for "Under Siege 2" on her Sirius XM radio show Thursday.

She says she was alone in the room with Seagal when he asked her to sit next to him on a couch. After she declined, she says Seagal asked her to take her clothes off even though the part required no nudity. McCarthy says she walked out of the audition, but Seagal followed her and warned her not to talk to anyone about the encounter.

McCarthy told the same story to Movieline in 1998.

A representative for Seagal didn't immediately return a request for comment Friday, but a Seagal spokesman has denied the McCarthy's accusations to The Daily Beast.

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10 p.m.

The Los Angeles Police Department says it is no longer investigating a sexual assault report filed by actor Corey Feldman.

The LAPD said in a statement Thursday that the events were so long ago that the statute of limitations has expired on Feldman's allegations and detectives have no further avenues to pursue.

The 46-year-old appeared on "The Dr. Oz Show" last week to say he was sexually assaulted as a child actor and witnessed sexual abuse of other young performers.

Feldman said in a lengthy online post Wednesday that he is grateful to the women who came forward with sexual harassment allegations against Harvey Weinstein because the story has resurrected interest in Feldman's own reports of abuse.

A spokeswoman for Feldman did not immediately respond to a request seeking further comment.

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8:30 p.m.

The nonprofit advocacy group Women in Film is launching a help line for sexual harassment victims in the entertainment industry. The group said Thursday that the help line will serve as a crisis center and centralized information source for anyone seeking help.

It is expected to be operational by Dec. 1.

There will also be a pro-bono legal aid panel of specialized attorneys to help advise victims.

Women in Film Executive Director Kirsten Schaffer says their phones have been ringing off the hook since the sexual harassment stories began to break. Schaffer says victims who call express feelings of isolation and fear of retaliation and potential legal costs of coming forward.

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8:05 p.m.

A former writer on "Mad Men" tells the website The Information that series creator Matthew Weiner harassed her at work.

The allegation by Kater Gordon was reported Thursday, and denied in a statement released by Weiner's publicist.

The statement says Weiner does not remember making the comment to Gordon and it does not reflect a comment he would say to a colleague.

Gordon couldn't immediately be reached for comment.

She told The Information that the alleged incident occurred when she and Weiner were working late one night at the office. She claimed that he told her she "owed it to him to let him see me naked," the website reported.

Gordon said she "froze," tried to brush it off and continued working.

She started as a staff writer on the AMC drama before becoming a writers' assistant, and then shared a writing Emmy in 2009 with Weiner for an episode of the show.

Gordon said she was let go from the series a year after the alleged incident and lost her passion for writing.

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7:45 p.m.

FX Networks, which airs several shows created or starring Louis C.K., says it has received no complaints of harassment about the comedian but is reviewing its relationship with him.

The statement issued Thursday evening says the network is troubled by allegations of sexual misconduct leveled against the comedian in a New York Times story. The statement says FX will take all appropriate measures to protect its employees.

The network has produced five shows over the last eight years with C.K., including his comedy "Louie" and the current series "Baskets" and "Better Things."

He is also developing another series for FX called "The Cops" in which he's set to star opposite Albert Brooks.

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7:15 p.m.

HBO says Louis C.K. will not appear on its upcoming autism benefit show "Night of Too Many Stars."

The cable network also says it is removing all of C.K.'s past projects from its on demand services.

The move came hours after The New York Times detailed five women's allegations of sexual misconduct by the comedian. A representative for C.K. had no immediate comment on the allegations.

The small distribution company that is handling the release of Louis C.K.'s film "I Love You, Daddy" said Thursday that it is reviewing the situation and giving careful consideration to the timing and release of the film.

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6:55 p.m.

Los Angeles prosecutors say they've launched a task force to evaluate allegations of sexual abuse in the entertainment industry.

District Attorney Jackie Lacey says in a statement Thursday that the task force will include specially trained prosecutors who will evaluate cases once they are referred to the district attorney's office for prosecution.

She says the task force is comprised of veteran sex crimes prosecutors who will review cases as they come in.

But Lacey says so far there have been no cases sent to the DA's office for criminal charges.

Lacey said earlier Thursday that her office was in touch with Los Angeles police and police in Beverly Hills as they investigate allegations of criminal wrongdoing against Harvey Weinstein. She declined to comment further on the status of the investigations.

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6 p.m.

The Television Academy says it stands by women making allegations of sexual misconduct, though it is not commenting specifically about allegations against Louis C.K.

In a statement Thursday after a New York Times report in which several women accuse the comedian of sexual misconduct, the academy says that all television professionals deserve to be "treated with dignity and respect, free of predatory harassment."

C.K., the Emmy-winning star of FX's "Louie," is among the latest Hollywood figures to be accused of misconduct in a wave that began when dozens of sexual harassment allegations were reported last month against film mogul Harvey Weinstein.

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4:15 p.m.

The small distribution company that is handling the release of Louis C.K.'s film "I Love You Daddy" says that it is reviewing the situation and giving careful consideration to the timing and release of the film.

The Orchard released a statement Thursday after a New York Times story reported the accounts of five women alleging sexual misconduct from C.K. The film had been set for a limited theatrical release on Nov. 17.

The statement also said there is never a place for the behavior detailed in the allegations.

Earlier in the day, the company canceled the New York premiere of the film. The Orchard acquired C.K.'s film at the Toronto International Film Festival earlier this year for $5 million.

In the film, C.K. plays a successful TV producer whose 17-year-old daughter begins a relationship with an older director. It spawns a kind of crisis for C.K.'s character, who has his own issues with how he treats women.

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3:00 p.m.

The New York Times has published a story about Louis C.K. in which several women accuse the comedian of sexual misconduct, including masturbating in front of them.

A publicist for C.K. did not immediately respond to a request for comment from The Associated Press. Another publicist told the Times the comedian would not respond to their reporting.

Five women — including comedians Dana Min Goodman, Abby Schachner, Julia Wolov and Rebecca Corry — allege C.K. either masturbated in front of them, asked to do so or did so over the phone.

The Emmy-winning star of FX's "Louie" is known for his candid, warts-and-all personal humor, which also involves bodily fluids and sex.

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1:15 p.m.

The New York premiere of Louis C.K.'s controversial new film "I Love You, Daddy" has been canceled amid swirling controversy over the film and the comedian.

The distribution company The Orchard said in a statement that the Thursday cancellation was "due to unexpected circumstances." C.K.'s scheduled Friday appearance on "The Late Show With Stephen Colbert" also has been scrapped.

The Woody Allen-esque film tells the story of a successful TV writer-producer that attempts to stop his 17-year-old daughter's growing admiration and relationship with a 68-year-old filmmaker.

Allegations of questionable sexual behavior have long dogged C.K and he said this summer that he and co-writer Vernon Chatman wanted to make a movie about beloved artists who are trailed by murmurs of scandal.

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10:15 a.m.

Director Alfonso Arau is dismissing Debra Messing's charge that he demeaned her on the set of her first film, "A Walk in the Clouds."

He accused the "Will & Grace" star of "following fashion" with her accusation but that it had "nothing to do with reality." He added that she owed him her career because he picked her from "many, many" actresses.

Messing spoke up in February about her experience on the movie, a romance released in 1995 co-starring Keanu Reeves.

She had said that Arau and producers had surprised her with a nude scene that she hadn't agreed to in advance. When she complained, she says he told her, "Your job is to get naked and to say the lines. That's it."

Arau spoke Wednesday at the premiere of Disney-Pixar's "Coco." The 85-year-old actor and director voices the character of Papa Julio in the film.

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7:30 a.m.

"Prison Break" star Robert Knepper is denying allegations that he forced himself on a costume designer in 1992.

Designer Susan Bertram told The Hollywood Reporter that Knepper sexually assaulted her while filming "Gas Food Lodging." She alleges he grabbed her and pushed her against a wall in the actor's trailer. She says she managed to escape.

Knepper responded to Bertram's allegations on Instagram, saying "I am shocked and devastated to be falsely accused of violence against a woman. That's just not who I am."

Knepper is the among the latest Hollywood figures to be accused of misconduct in a wave that began when dozens of sexual harassment allegations were reported last month against film mogul Harvey Weinstein.

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2:30 a.m.

Kevin Spacey is getting cut out of Ridley Scott's finished film "All the Money in the World" and replaced by Christopher Plummer just over one month before it's supposed to hit theaters.

People close to the production who were not authorized to speak publicly say Plummer is commencing reshoots immediately in the role of J. Paul Getty. According to the report, all of Spacey scenes will be reshot. Co-stars Mark Wahlberg and Michelle Williams are expected to participate.

Scott is intending to keep the film's Dec. 22 release date.

The film was originally set to have its world premiere at the AFI Fest in Los Angeles on Nov. 16 but was pulled earlier this week amid the sexual harassment reports surrounding Spacey.

Spacey has also been fired from "House of Cards."

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By Sam Smethers, Chief Executive – The Fawcett Society

I feel as if the world is speeding past us yet somehow on the issue of pay, we are frozen in time.

Equal Pay Day – the day in the year from which women are effectively working for free – hasn't shifted at all.

It's a stalled picture which means we are seeing no progress.

In fact, if you look back over the past five years, the rate of change we have seen is so bad we won't close the gender pay gap until 2117 – 100 years from now.

So what is going on? There are a few things in the numbers which are particularly worrying this year.

We are used to seeing a wider pay gap for older women. We know it widens throughout women's working lives, particularly driven by the unequal impact of caring roles, and becomes a whopping pensions gap of 40% in retirement.

Not good. But this year we are also seeing, for the first time, a widening of the pay gap for younger women, those just entering the jobs market.

:: Gender pay gap 'will take 100 years to close'

It is not clear from the data why this is happening but it suggests a gap in starting salaries which inevitably puts women on the wrong track for their working lives.

I suspect at least part of the explanation also lies in workplace culture.

We've seen an unprecedented focus on workplace harassment in recent weeks.

We also know that harassment and discrimination is a feature of the gender pay gap, because it undermines the effectiveness of organisations and teams, prevents women from fulfilling their potential at work, or drives them out of their workplace.

TUC research shows that just over half of all women have experienced harassment, but for younger women the figure is 63%.

The uncomfortable reality for us all is that a culture that tolerates or even fosters sexual harassment probably won't be paying women fairly either.

Another worrying feature of this year's data is the number of women who are earning below the minimum wage.

There are 100,000 more women than men who are on the lowest incomes.

We know that women often end up in low-paid part-time work, but they are more likely than men to stay there for longer, trapped in poverty wages by a lack of quality part-time jobs that they can combine with caring for children or other relatives.

We see fairly sizeable regional variations as well. London still has the biggest gap at 20.7% but it has at least reduced by 3 percentage points.

In the North East it's growing, up from 8.7% to 10.2%.

And we know that black, Asian and minority ethnic women are likely to see larger pay gaps, suggesting that they are experiencing multiple discrimination and disadvantage.

So what do we do about it?

What we can all do is start talking about pay.

:: Most 'sexist' city in gender pay revealed

It is still taboo to talk to your colleagues about what they earn. But in this culture of secrecy pay inequality can thrive.

We also need to ask our employers what they are doing to measure and report their gender pay gaps, and what action plan they are putting in place.

Large employers will be required to do this by April next year. We need enforcement action against any who don't comply.

The Government need to do much more to foster a flexible working culture in our workplaces – the default model needs to be all jobs are flexible working jobs unless there is a good business reason for them not to be.

Leave for fathers needs to be longer and paid at a higher rate – with a presumption of equal responsibility of caring for children.

We need to pay the minimum wage at real living wage rates to help the lowest paid, and we need to do much more to tackle the segregation in our schools, colleges and workplaces.

Sometimes it feels as if we have a mountain to climb to close the pay gap. But with concerted action we can do it.

Join the campaign today. Make your #paygappledge and tell us what you will do.

Sam Smethers is the chief executive of The Fawcett Society. Today they are encouraging people across the UK to pledge to do their bit to tackle unequal pay – whether that's workers starting a conversation with colleagues or companies and Government making tangible changes.

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By James Sillars, Business Reporter

More than 1,200 investors in a collapsed income fund are set to get the value of their investments returned – a total of £66m.

The announcement was made by the City watchdog as its long-running inquiry into the Capita Financial Managers' (CFM) Connaught fund continues.

The fund – formerly known as the Guaranteed Low Risk Income Fund, Series 1 – was placed in liquidation in December 2012.

The Financial Conduct Authority's (FCA's) inquiry found a series of failures including inadequate due diligence prior to CFM taking on the fund and a lack of oversight.

It also identified poor communication – finding investors were ultimately misled.

But the FCA said it had decided not to impose a fine as such a move would have meant customers losing out.

It added that it had also taken into account that parent firm Capita – the FTSE 250 outsourcing specialist – was funding CFM's £66m payment to the FCA for the investor redress.

Its shares were trading 2% lower on Friday.

Capita had announced in its half-year results in September that it had made a £37m provision to cover the cost of any fine in the Connaught case. It is now believed to be planning the booking of a £29m charge to meet the £66m payout.

The company said it had previously paid £18.5m following a claim brought by Connaught liquidators.

It described the FCA's announcement as a "full and final settlement" and added that it had since disposed of its Asset Services businesses, including CFM, in a sale to the Link Group a week ago.

It has been a tough few years for Capita – announcing in March that its chief executive Andy Parker was to leave in the wake of a series of profit warnings related to tough trading conditions and relegation from the FTSE 100.

His replacement – former Amec Foster Wheeler boss Jon Lewis – is due to start work next month.

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New Star Wars trilogy raises Disney hopes

Walt Disney has announced a deal to make three new Star Wars movies.

The company said it had struck a deal with Rian Johnson, director of the upcoming "Star Wars: The Last Jedi", to create a new trilogy of the science fiction blockbuster.

Disney is also working on a live-action Star Wars series for a new online streaming service.

The news overshadowed Disney's first drop in annual profits since 2009, amid steep competition from online rivals.

Profits for the year to September fell 4% to $8.98bn (£6.8bn).

Disney's shares fell initially in after-hours trading on the release of its results, but they then rallied to 1% higher on news of the new Star Wars movies.

Chief executive Bob Iger said: "We remain optimistic about our future, in part because quality truly does matter."

The entertainment giant also plans to launch a sports-focused ESPN+ app in the spring, and a Disney streaming service in 2019.

Mr Iger said those investments, which add to an existing Disney subscription service in Europe, were "vital" to the firm's future.

"Our goal here is to be a viable player in the direct-to-consumer space, a space that we all know is a very compelling space to be in," he said.

He declined to address reports that the company had held talks with 21st Century Fox about acquiring parts of its business, but he did not rule out an acquisition.

"I don't think there's ever such a thing as having too much quality."

Under pressure

Disney is grappling with a challenge from online video, which has won viewers of traditional television and movies and is driving a shift away from cable television.

In the fourth quarter of Disney's financial year, covering the three months to the end of September, profits dipped 1% to $1.7bn.

Quarterly revenues fell 3% to $12.8bn as the impact of hurricanes, lower advertising revenue and a decline in cable subscriptions weighed on the results.

Revenue in its movie division sank 21%, which Disney said was due to a tough comparison with last year, when a new Star Wars movie lifted results.

Disney's parks and resorts business, which has steadied results in recent quarters, was the only division that reported year-on-year revenue growth in the quarter, rising 6%.

But even that unit was affected by the hurricanes that struck the US earlier this year. Disney said that accounted for a roughly 3% decline in US attendance.

Source – bbc.com