Disney Ousts Bob Chapek, Robert Iger Returns as CEO

Business Iger returns to the entertainment company he left only late last year

Elon Musk, Tesla Board Members to Defend CEO’s Pay in Court

Elon Musk, Tesla Board Members to Defend CEO’s Pay in Court

FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall

FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall

Elon Musk Sold $4 Billion More Worth of Tesla Stock. The Timing Is Odd.

Investors were waiting for stock sales from Tesla CEO Elon Musk, guessing he needed to sell more shares to finish his Twitter purchase. He sold more stock, but it happened after the Twitter deal closed. Musk disclosed the sale of 19.5 million shares of Tesla (ticker: TSLA), or about $3.95 billion of it, in 38 … Read more

Meta’s Mark Zuckerberg Says He Is Accountable as Company Preps for Mass Layoffs

WSJ News Exclusive Tech Layoffs are to begin on Wednesday morning, the CEO told hundreds of executives on Tuesday

TuSimple Fires CEO Xiaodi Hou Amid Federal Probes

TuSimple Fires CEO Xiaodi Hou Amid Federal Probes

Peloton Co-Founder John Foley Faced Repeated Margin Calls From Goldman Sachs as Stock Slumped

John Foley, the co-founder and former chief executive of Peloton Interactive faced repeated margin calls on money he borrowed against his Peloton holdings before he left the fitness company’s board last month, according to people familiar with the situation. As Peloton’s shares slumped over the past year, Goldman Sachs Group asked Mr. Foley several times … Read more

Peloton to Cut Another 500 Jobs. CEO Says It Has 6 Months to Turn Around.

Peloton Interactive has another six months to turn itself around or it likely won’t be a viable standalone company, according to its own CEO. Barry McCarthy made the comments in an interview with The Wall Street Journal, also revealing plans to cut another 500 jobs.

Metaverse funds top $2bn as Fidelity, LGIM, Franklin chase ‘theme du jour’

Funds investing in the metaverse are now managing more than $2bn globally, as a flurry of launches from some of Europe’s biggest asset managers look to take advantage of a hot investment trend. Data from Morningstar, provided to Financial News, shows a sharp increase in assets managed by funds focused on immersive virtual worlds, as well as in the … Read more

Banker bonus cap: Going, going, gone?

New chancellor Kwasi Kwarteng is drawing up plans to ditch the UK banker bonus cap as part of plans for a ‘Big Bang 2.0’ to reinvigorate the City after Brexit. The timing could be better. The British public has barely forgiven bankers for the 2008 financial crisis, and dangling bigger banker bonuses during a cost-of-living crisis … Read more