Month: July 2022
Volkswagen CEO Diess to depart; Porsche boss Blume will lead the German auto giant
Herbert Diess, CEO of Volkswagen Sean Gallup | Getty Volkswagen CEO Herbert Diess will leave the company at the end of August, the company said Friday. Oliver Blume, currently the CEO of Volkswagen subsidiary Porsche, will succeed Diess as of September 1. The automaker didn’t provide a reason for Diess’s departure. Diess joined Volkswagen from […]
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Jury starts deliberations in contempt trial of former Trump aide Steve Bannon
Former U.S. President Donald Trump’s White House chief strategist Steve Bannon arrives following his trial on contempt of Congress charges for his refusal to cooperate with the U.S. House Select Committee investigating the Jan. 6, 2021 attack on the Capitol, at U.S. District Court in Washington, U.S., July 22, 2022. Evelyn Hockstein | Reuters A […]
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Amazon’s PR and policy chief Jay Carney leaves to join Airbnb
Senior Vice-President of Worldwide Corporate Affairs at Amazon James Carney speaks with EU officials on February 1, 2018 in Brussels, Belgium. Thierry Monasse | Corbis News | Getty Images Airbnb has tapped Jay Carney, Amazon’s top spokesperson, to serve as its new head of policy and communications. Carney will start at Airbnb in September, and […]
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Coinbase blasts SEC over insider trading case, says none of the tokens it lists are securities
Coinbase signage in New York’s Times Square during the company’s initial public offering on the Nasdaq on April 14, 2021. Robert Nickelsberg | Getty Images Coinbase pushed back on claims from the Securities and Exchange Commission that it offers unregistered securities, following fraud charges against a former employee of the company. An ex-Coinbase product manager […]
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Snap shares dive 35% following poor earnings report
In this screengrab, CEO of Snap Inc. Evan Spiegel takes the stage at the virtual Snap Partner Summit 2021 on May 20, 2021 in Los Angeles. Snap Partner Summit 2021 – Snap Inc | Getty Images Shares of Snap fell 35% Friday morning, a day after the company reported disappointing second-quarter results. Snap missed Wall […]
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Here’s what Cadillac’s new $300,000 electric sedan will look like
The Cadillac Celestiq show car previews an upcoming electric sedan for General Motors. GM DETROIT – General Motors on Friday previewed what its most expensive Cadillac ever will look like as the automaker attempts to redefine the quintessential American luxury brand into an electric vehicle leader. The Detroit automaker unveiled a “show car” version of […]
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Stocks making the biggest moves premarket: American Express, Verizon, Twitter and more
Check out the companies making headlines before the bell: American Express (AXP) – American Express rallied 4.5% in the premarket after beating top and bottom line estimates for the second quarter. Card members registered record spending, driven by a rebound in travel and entertainment. Verizon (VZ) – Verizon fell 4.4% in the premarket after adjusted […]
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Verizon shares fall after company cuts full-year forecast
A Verizon store in San Francisco, California, U.S., on Tuesday, July 20, 2021. Bloomberg | Getty Images Shares of Verizon fell nearly 5% in premarket trading Friday after the company reported second-quarter earnings that missed expectations and trimmed its financial forecast for the year. “Although recent performance did not meet our expectations, we remain confident […]
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MoffetNathanson downgrades Paramount, citing lower ad spend ahead of potential recession
MoffetNathanson on Friday downgraded shares of Paramount Global to underperform and slashed its price target to $18 per share from $30, citing growing risk of lower advertising spend going forward. “Despite the continued momentum at Paramount+, we downgrade PARA as the growing risk of lower advertising puts additional pressure on the company’s ability to grow […]
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Twitter misses earnings expectations, partially blames revenue drop on Elon Musk takeover bid
Musk would have been appointed to Twitter’s board on Saturday, but the world’s richest man informed the company on the day that he would not, in fact, be taking the board seat. Andrew Burton | Getty Images News | Getty Images Twitter reported earnings for the second quarter on Friday that missed analyst estimates on […]
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