By Tom Hals WILMINGTON, Delaware (Reuters) – A legal team that forced Tesla’s directors to agree in July to return more than $700 million in compensation to the automaker for allegedly overpaying themselves are now seeking a huge payday of their own. The lawyers want a judge to approve $229 million in fees, or $10,690 …
Lawyers who sued Tesla board for excess pay want $10,000 an hour Read More »
By Dawn Chmielewski (Reuters) -Walt Disney CEO Bob Iger told investors the company will “quiet the noise” in a culture war that has pitted social conservatives against the global media and entertainment conglomerate, according to an analyst note on Wednesday. Iger’s brief statement, included in an analyst report from Needham media analyst Laura Martin, was …
Disney CEO says company will ‘quiet the noise’ in culture wars -analyst Read More »
(Reuters) – Amazon.com is scrapping a plan to charge merchants who do not use the company’s shipping services an additional fee, Bloomberg News reported on Wednesday, citing documents it had reviewed. The reported turnaround in Amazon’s plans comes when the e-commerce giant is facing a potential antitrust lawsuit from the U.S. Federal Trade Commission. The …
Amazon drops planned merchant fee as FTC lawsuit looms – Bloomberg News Read More »
By Stephen Culp (Reuters) – U.S. stocks slumped on Wednesday after the U.S. Federal Reserve held key interest rates unchanged as widely expected, and revised economic projections higher with warnings that the battle against inflation was far from over. All three major U.S. stock indexes retreated in the wake of announcement, with interest rate sensitive …
Wall Street closes lower after Fed holds rates steady, warns of higher for longer Read More »
By Heather Timmons and David Gaffen WASHINGTON (Reuters) – When the CEO gets a 40% raise, what do the workers deserve? That question is at the heart of the United Auto Workers union’s strikes at assembly plants owned by Ford, General Motors and Chrysler parent Stellantis. UAW President Shawn Fain initially asked for a 40% …
UAW strikes at automakers highlight skyrocketing US CEO pay Read More »
(Reuters) – BofA Global Research said on Wednesday it expects the S&P 500 to end 2023 nearly 7% higher than it previously forecast, and that “old economy” stocks on the blue-chip index could benefit as much, if not more, over their new-age tech peers. The Wall Street brokerage now expects the index to end the …
BofA lifts S&P 500 2023-end target by 7%, led by “old economy” stocks Read More »
By Byron Kaye SYDNEY (Reuters) – Australia’s Qantas Airways said its former CEO took a pay increase of 872% as he collected years’ worth of long-term incentives on the way out, but added it was cutting and withholding hefty bonuses amid damaging lawsuits. Alan Joyce, who retired early this month after a regulator lawsuit accused …
Qantas ex-CEO takes 900% pay rise, but bonus cut amid scandals Read More »
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt crypto exchange FTX on Monday sued the parents of founder Sam Bankman-Fried, saying that Stanford professors Joseph Bankman and Barbara Fried used the company to enrich themselves at the expense of FTX’s customers. FTX, now being led by turnaround specialist John Ray, said that company founder Sam …
(Reuters) – New York Governor Kathy Hochul on Tuesday announced the start of construction on the converter station of the Champlain Hudson Power Express transmission line, a project to bring electricity generated from Canadian hydropower to New York City. The 340 mile (547 km) transmission line is a proposed underwater and underground high-voltage direct current …
Building begins on facility linking Canada hydropower to NYC Read More »
By Jonathan Stempel NEW YORK (Reuters) -A federal judge on Tuesday said DoorDash, Grubhub and Uber Eats can sue New York City over a law capping how much they can charge restaurants for delivering meals. U.S. District Judge Gregory Woods in Manhattan said the plaintiffs adequately alleged that the law violates the U.S. Constitution and …
DoorDash, Grubhub, Uber Eats can sue NYC over fee caps Read More »
