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“Amazon shareholders reject investor-led proposals” Amazon shareholders on Wednesday voted against all investor-led resolutions that challenged the company’s policies — including its use of plastics and certain concealment clauses in contracts — at the company’s annual meeting. A total of 15 investor resolutions were considered, including one introduced at the meeting. The figure was a record…
“Twitter faces skeptical investors during Elon Musk talks” Twitter investors voted against re-electing an ally of Elon Musk to the board at an annual meeting on Wednesday that avoided the biggest question for the social media company: Will it complete a $44 billion sale to the billionaire? Investors voted against Egon Durban, the co-head of private…
“Kohl’s braces for bidders to slash takeover offers: report” Bidders competing to acquire Kohl’s are preparing to make binding offers that are lower than the indicative bids they submitted earlier this year to reflect the market downturn and the retailer’s deteriorating business, people familiar with the matter said. The bidders, which include private equity firm Sycamore Partners,…
“Amazon shareholders set to pressure company over CEO pay, worker injuries at annual meeting” The heat is on at Amazon. The e-commerce giant is expected to take flak from shareholders and critics — including several New York politicians — over worker safety issues, anti-union tactics and CEO Andy Jassy’s $214 million pay package at the…
“Snapchat, Meta and Google shares plummet after dire economic warning” Oh Snap! Shares of Snapchat’s parent nosedived 43% on Tuesday after the disappearing-photos app sounded alarm bells about a slowing economy killing digital advertising revenue. “The macroeconomic environment has deteriorated further and faster than anticipated,” Snap said in a Securities and Exchange Commission filing on…
“Dow falls 400 points near the end of a bruising week” The Dow fell more than 400 points Friday as stocks headed for another week of declines following a massive pullback two days ago. The S&P 500 fell 0.7% and is on track for its seventh straight weekly decline after getting close to entering a bear…
“Mark Zuckerberg doesn’t expect Meta layoffs despite stock crash: report” Mark Zuckerberg is reportedly telling Meta employees that he has no plans for layoffs — even as the company vows to tighten its belt with its stock down 43% so far this year. After the Facebook and Instagram parent company instituted hiring freezes for many…
“Dow drops 1,000 points after Target reports weak earnings” The Dow plunged by more than 1,100 points, suffering it worst day since 2020, as big retailers reported their profits are getting crushed by inflationary pressures. The S&P 500 fell by 4% on Wednesday and the Nasdaq shed nearly 5% as investors reacted to a weak…
“Target shares headed for worst day since crash of 1987” Target took a big hit from higher costs during the first quarter despite brisk sales and shares appeared headed for their most severe selloff since the Black Monday market crash of 1987. Profits for major retailers has come under pressure from both surging inflation and stubborn clogs…
“Twitter loses 3 more top execs as Elon Musk takeover looms” Twitter’s executive ranks continued to thin out Tuesday after three senior managers quit as the company has been thrown into turmoil by Elon Musk’s looming $44 billion takeover. Ilya Brown, a vice president of product management; Katrina Lane, a vice president of Twitter service,…