Disney cancels $1 billion Florida investment amid DeSantis feud.

Disney is canceling its $1 billion investment in Florida, citing "changing business conditions," amid a year-long feud with the state's Republican governor, Ron DeSantis. The decision comes less than a week before DeSantis is expected to announce his presidential campaign. The Lake Nona complex would have included several buildings employing 2,000 Disney workers that would have been relocated from California to Florida. The decision to scrap the development comes as Disney cuts more than $5 billion in costs, with CEO Bob Iger seeking a "transformation."