Author: Jae Hur
-
Lyft’s New CEO Risher Announces Additional Layoffs, Shares Soar
David Risher, CEO of ride-hailing service Lyft Inc, announced on Friday that it will cut jobs “significantly” through another round of layoffs to cut costs. The announcement sent the company’s share price jumping. The company declined to provide details on how many employees would be affected by the move, but the Wall Street Journal previously…
-
Paramount Settles with Investors in Viacom-CBS Merger Lawsuit
Paramount Global has agreed to pay $167.5 million to investors to settle a lawsuit resulting from the 2019 merger between entertainment company Viacom Inc and CBS Corporation. It was stated in the documents submitted to the authorities. According to filings released Friday by the Securities and Exchange Commission (SEC), Paramount (NASDAQ:PARA) and investors agreed to…
-
Bed Bath & Beyond Files For Bankruptcy Protection After Financial Difficulties
Bed Bath & Beyond Inc, a leading US home goods chain with a history of 52 years, has filed for bankruptcy protection and commenced a liquidation sale on Sunday (local time). This company, which attracted attention as a ‘meme stock’ on Wall Street, has warned of the possibility of bankruptcy due to financial difficulties for…
-
Amazon Shares Hit Their Highest Level Since February 3 On Hopes Of Strong Sales
Shares rose to their highest level in more than two months on Friday after a research firm predicted that the world’s largest e-commerce giant Amazon’s retail business in North America would beat Wall Street analysts’ expectations. Shares of Amazon (NASDAQ:AMZN) rose 3.77% to $107.725, their highest since Feb. 3, bringing the Seattle company’s stock market…
-
Alphabet CEO Pichai’s 2022 Compensation Over $200 Million
Alphabet’s CEO Sundar Pichai was awarded an estimated $226 million in compensation in 2022, the company said in filings filed with authorities on Friday. This is more than 800 times the median salary of an employee. Pichai’s compensation also included a stock grant of approximately $218 million, according to the filings. The pay gap comes…
-
Lucid Q1 Vehicle Output, Delivery Down QoQ, Share Price Falls
US electric vehicle company Lucid Group Inc said on its website Thursday that production and deliveries for the quarter ending at the end of March were lower than in the previous quarter ending at the end of December. The electric vehicle maker produced 2,314 units in the first quarter at its plant in Arizona and…
-
Boeing Suspends Deliveries Of Some 737 Max Amid New Supplier Concerns
Boeing has suspended deliveries of some 737 MAX aircraft as Spirit AeroSystems grapples with new supplier quality issues that can be traced back to 2019, the American aircraft maker said on Thursday. The issue is likely to affect a “significant” number of undelivered 737 Max aircraft in production and storage and could reduce 737 Max…
-
Walmart Sells Menswear Brand Bonobos for $75 million
Walmart Inc (NYSE:WMT), the largest US retailer, is selling menswear brand Bonobos to Express Inc (NYSE:EXPR) and WHP Global for $75 million. WHP Global, which owns fashion brands such as Toys “R” Us, Anne Klein and Joseph Abboud, partnered with Express earlier this year for a stake in the apparel retailer. It is the first…