Tesla CEO Elon Musk lost his bid to get his 2018 CEO pay package reinstated on Monday when a Delaware judge upheld her prior ruling that the compensation plan was improperly granted. The package, worth about $56 billion, was the largest compensation plan in U.S. history for a public company executive. Tesla said in a post on X, that it plans to appeal ...
Intel’s CEO is stepping down as the stalwart American chipmaker has struggled to keep pace with the artificial intelligence revolution. The company announced that Pat Gelsinger, who’d led Intel since 2021 and logged more than 30 years in various positions with the chipmaker, had retired from the company effective Sunday. “While we have made significant progress in regaining manufacturing competitiveness ...
President-elect Donald Trump is wasting little time affirming that tariffs will be a Day One priority. With his inauguration less than two months away, small businesses are already making moves to avoid expected cost increases — or weighing whether to take a financial hit or pass it on to customers. On Monday, Trump announced on Truth Social that he plans ...
Sporting a sparkly dress and a Santa hat atop her distinctly pink hair, Sarah Potempa stood in front of her smartphone at her hair-care company’s warehouse in Waukegan, Illinois. It was time to go to work. Potempa is a celebrity hairstylist who goes live on TikTok multiple times a week. During “the packing show,” as she calls it, Potempa livestreams ...
The U.S. Federal Trade Commission has opened a broad antitrust investigation into Microsoft, including of its software licensing and cloud computing businesses, a source familiar with the matter told Reuters Wednesday. A source confirmed the investigation to NBC News. The investigation was approved by FTC Chair Lina Khan ahead of her likely departure in January. The election of Donald Trump ...
Shares in a little-known drone company soared Wednesday after it announced that Donald Trump Jr. had joined its advisory board. Unusual Machines, an Orlando, Florida-based firm born just two years ago as it acquired a drone manufacturer and a separate drone retailing firm, announced the appointment in an early-morning news release. “Don Jr. joining our board of advisors provides us ...
Abercrombie & Fitch isn’t giving up its crown anytime soon. The apparel company issued strong holiday guidance on Tuesday after posting its sixth straight quarter of double-digit sales growth and another quarter of results that topped expectations. The recent arrest of the company’s former CEO, Mike Jeffries, on charges of sex trafficking did not appear to affect results. Here’s how Abercrombie did in its ...
Amazon workers in more than 20 countries, including the United States and the United Kingdom, plan to hold protests or go on strike between Black Friday and Cyber Monday, two of the marquee shopping promotions of the year, according to organizers. The planned “Make Amazon Pay” demonstrations are intended to “hold Amazon accountable for labor abuses, environmental degradation and threats ...
Shares in a little-known drone company soared Wednesday after announcing that Donald Trump Jr. had joined its advisory board. Unusual Machines, an Orlando, Florida-based firm born just two years ago as it acquired a drone manufacturer and a separate drone retailing firm, announced the appointment in an early-morning press release. “Don Jr. joining our board of advisors provides us unique ...
Many U.S. retailers are hoping to put the fall quarter behind them. The decisive outcome of this month’s presidential election, which showed a GOP sweep, seems to be giving them the fuel to do so. On Tuesday, Best Buy reported one of its worst three-month stretches of the past decade, something CEO Corie Barry blamed in part on the ‘distraction’ ...