Elon Musk has until Friday evening to close his $44 billion acquisition of Twitter or face an uphill legal battle in Delaware Chancery Court next month. Wall Street likely won’t be comfortable until c...
Tag: C&E Executive News Filter
Financial Advisor Pleads Guilty to Fraud After Airport Arrest
A Massachusetts investment advisor has pleaded guilty to multiple counts of fraud and other charges after a failed attempt to flee the country while he was awaiting trial. Steven Xigoros, of Lowell, M...
3M Earns Quick Appellate Review of Earplug Unit’s Bankruptcy Shield
A federal appeals court granted 3M Co. ’s request to review a bankruptcy judge’s refusal to stop mass injury lawsuits from proceeding against the conglomerate following the chapter 11 filing of its ea...
Saudi Arabia Lures Executives to Neom With Million-Dollar Salaries, Zero Taxes
Saudi Arabia’s megadevelopment Neom is paying senior executives roughly $1.1 million each annually, according to an internal Neom document, showing how the kingdom is using large pay packages to lure ...
Exxon Improperly Fired Scientists Suspected of Sharing Information, Labor Department Finds
Listen to article (2 minutes) The Labor Department said it found Exxon Mobil illegally fired two company scientists over suspicions they shared information with The Wall Street Journal about concerns ...
Former Apple Car Executive’s Battery Startup Plans $1.6 Billion Factory in Michigan
Our Next Energy Inc., an electric-car battery startup involving several former leaders of Apple secretive car project, is planning to invest $1.6 billion into a factory in Michigan to make enough batt...
Nikola Founder Trevor Milton Hangs Legal Defense on Expert Testimony
Updated Oct. 4, 2022 3:02 pm ET Listen to article (2 minutes) Lawyers for Trevor Milton are anchoring the Nikola founder’s defense against securities-fraud charges on the testimony of a Harvard profes...
Buffett’s Likely Successor Buys $68 Million of Berkshire Stock
Berkshire Hathaway Vice Chairman Greg Abel, the likely successor to CEO Warren Buffett, bought about $68 million of the company’s shares last Thursday in what appears to be his first purchases of Berk...
Chinese Tech Billionaire Richard Liu Settles Sexual-Assault Case in Minnesota
MINNEAPOLIS—A legal battle that Chinese feminists had seen as pivotal for the country’s embattled #MeToo movement ended abruptly just before a jury was set to hear the case in a Minnesota courtroom. R...
Adobe Stock Crumbled. Chief Financial Officer Dan Durn Bought the Dip.
Adobe stock tumbled after the software giant announced an acquisition. Soon thereafter, Chief Financial Officer Dan Durn bought nearly $1 million of shares. Adobe (ticker: ADBE) announced on Sept. 15 ...
Bond Market Turmoil Could Last a While. How to Ride It Out.
It is an exciting time for fixed income—and a terrifying one, too. Central banks are in the midst of the most dramatic tightening of monetary policy in a generation, which has helped push yields on so...
Nikola Tries to Ignite Market for Its Hydrogen Fuel-Cell Trucks
As Nikola founder stands trial on securities-fraud charges, a revamped management team is pushing to make the company the first to market hydrogen-powered commercial trucks in the U.S.—and to overcome...
Ford Seeks New Trial After $1.7 Billion Jury Verdict in Truck Rollover Lawsuit
Listen to article (1 minute) Ford Motor is asking a Georgia court for a new trial, after a jury reached a $1.7 billion verdict against the auto maker last month involving a truck rollover accident tha...
Crypto Investors Got Burned by Celsius. Then They Battled Back.
Cryptocurrency lender Celsius Network LLC attracted scores of people over the last five years who wanted to make money betting on bitcoin. After a crypto crash pushed the company into bankruptcy this ...
Oracle’s Ellison’s Compensation Topped $130 Million Last Fiscal Year
Sept. 23, 2022 8:24 pm ET Listen to article (2 minutes) Oracle top executives are again among the highest-paid at big U.S. companies, thanks to a decision last year to give them more time to earn stoc...
New York Suit Against Trump Mixes Routine Business Law, Uncommon Allegations
The New York attorney general’s lawsuit against former President Donald Trump uses a common state business law to make allegations about property valuations, which lawyers say are rarely the focus of ...
Nikola CEO Tells Jurors He Worried About Exaggerations by Company Founder Trevor Milton
Nikola CEO Mark Russell told a New York federal jury Monday that he had concerns about joining the electric-truck company because he believed its founder, Trevor Milton, “was prone to exaggeration in ...
Retired Couple Wins $5.2 Million Award From UBS Over YES Strategy
Two retirees won a $5.2 million arbitration award against UBS , which they accused of misrepresentation, unsuitability, and breach of fiduciary duty with regard to a complex options-trading strategy. ...
Ex-Morgan Stanley Advisor Pleads Guilty to $7 Million Fraud
A former Morgan Stanley advisor pleaded guilty on Thursday to wire fraud and money laundering as part of a $7 million fraud scheme, according to the Department of Justice. Ex-advisor Shawn Edward Good...
Nikola Founder Faces Securities-Fraud Trial Over Promises About Electric Trucks
Trevor Milton, the Nikola founder who enticed auto-industry leaders and investors with his promise for a revolution in electric trucks, faces a securities-fraud trial beginning this week on allegation...
Quantitative Tightening Is About to Ramp Up. What It Means for Markets.
The Federal Reserve now owns about a third of both the Treasury and mortgage-backed-securities markets as a result of its emergency asset-buying to prop up the U.S. economy during the Covid-19 pandemi...
Shopify Announces Changes in Top Leadership
Text size The company announced a 10% cut to its workforce in July. Dreamstime Shopify announced a new chief financial officer and chief operating officer on Thursday, a little less than two months af...
Citigroup Joins Industry Effort to Lend to People Without Credit Scores
Citigroup is joining a government-sponsored effort to expand access to credit in underserved communities. The bank is launching two pilot programs early next year under the Office of the Comptroller o...
Wells Fargo Fined $22 Million for Alleged Whistleblower Retaliation
Wells Fargo & Co. was fined more than $22 million by the U.S. Labor Department for allegedly firing a senior manager in its commercial banking unit after the employee reported concerns about misco...
Freyr Battery Gains as Analyst Calls It a Top Pick. The Stock Could Quadruple.
Text size Freyr can be a serious battery player in years to come, says Morgan Stanley’s Adam Jonas. FREYR Stock in Norwegian battery start-up Freyr Battery is getting a boost from a new bullish ...