Disney delays slew of films, Xiaomi introduces EV plans for 2024, sports organizations deal with vaccination hesitancy

Yahoo Finance's Julie Hyman breaks down Tuesday’s business headlines.

Video transcript

JULIE HYMAN: Chinese smartphone maker Xiaomi is detailing its plans for entering the electric vehicle business. At an investor event, CEO Lei Jun said a new EV unit has already hired more than 450 people for its research and development team and plans to mass produce cars by the first half of 2024. He also said Xiaomi will spend $10 billion on the effort over the next decade. Despite the Chinese government saying the EV industry there needs to consolidate, tech firms from Alibaba to Baidu to Tencent have announced their intentions to enter the market.

Disney is delaying the release of some upcoming Marvel movies. "Doctor Strange in the Multiverse of Madness" will now come out May 6, instead of May 25. "Thor, Love and Thunder" being moved to July 8 from May 6. And "Black Panther, Wakanda Forever" will arrive in theaters November 11, instead of July 8. Now Variety reports that the delays are related to production issues versus anticipated box office challenges. Disney is also moving back its release of a new Indiana Jones film, which I didn't even know was in production, to June 2023 instead of July 2022. In that case, because 79-year-old star Harrison Ford suffered a shoulder injury while shooting.

Well, first, Kyrie Irving was benched from the Nets because of New York City's vaccine regulations. Now consequences have come to other players and coaches. The National Hockey League has suspended San Jose Sharks forward Evander Kane for submitting a fake vaccination card. The 21-game suspension will Kane came $1.68 million of his $7 million salary. That money will go to the Player's Emergency Assistance Fund. Meanwhile, Washington state has fired coach Nick Rolovich for refusing to be vaccinated, since the COVID-19 shot is mandatory for all state employees. Four of Rolovich's deputies were also let go.