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Billionaire hedge fund boss Bill Ackman says he’s the victim of a “shakedown” attempt by a former employee demanding a $2 million severance payment after alleging an “unsafe workplace” — prompting wealthy captains of industry to publicly back the moneyman. Ackman recently laid out his case in a lengthy X post that quickly went viral, […]
Taiwan Semiconductor Manufacturing Company’s logo is seen in the background beside a printed circuit board. Sopa Images | Lightrocket | Getty Images Taiwan Semiconductor Manufacturing Co. on Friday posted another quarter of record revenue driven by demand for AI chips. For January to March, the world’s largest chipmaker reported revenue of 1.13 trillion new Taiwan […]
American consumers who are in the market for used cars are facing the highest prices in nearly three years, according to a new report. Wholesale prices for used vehicles rose to their highest level since the summer of 2023 in March, with the Manheim Used Vehicle Value Index rising 6.2% year over year to a reading of […]
Several airlines raised their revenue expectations for the first quarter on Tuesday, despite carriers dealing with higher jet fuel prices since the war in Iran started. Delta Air Lines CEO Ed Bastian told CNBC’s Phil LeBeau that Delta had taken a $400 million hit so far for the fourth quarter, but that demand has been […]
Marvell shares ripped 20% higher on Friday as the company posted an earnings beat and issued strong guidance, expecting robust artificial intelligence demand to continue. The semiconductor company reported adjusted earnings of 80 cents per share for the quarter, exceeding the 79 cents per share expected by analysts polled by LSEG. The company reported $2.2 […]
A bloc of Minnesota’s biggest companies and professional sports teams demanded an “immediate de-escalation” of tensions Sunday after the fatal shooting of Alex Jeffrey Pretti by federal agents rocked Minneapolis and plunged the state into crisis. More than 60 chief executives — including leaders of Target, Best Buy, 3M, General Mills, Medtronic, UnitedHealth Group and […]
TSMC offices in San Jose, California, on April 18, 2024. Bloomberg | Bloomberg | Getty Images Taiwan Semiconductor Manufacturing Company on Thursday reported a 35% increase in fourth-quarter profit, beating estimates and hitting a fresh record as demand for artificial intelligence chips remained strong. Here are the company’s results versus LSEG SmartEstimates, which are weighted […]
Live Nation CEO Michael Rapino and Smith Entertainment Group CEO Ryan Smith said this week live events are more central than ever to culture and commerce in a post-pandemic world. The executives spoke at CNBC Sport and Boardroom’s Game Plan conference on Tuesday, saying the demand for in-person events has been unmistakable. “No matter what […]
Lululemon Athletica slashed its annual revenue and profit forecasts on Thursday, signaling a slowdown in demand going into the crucial holiday season as consumers cut down spending, alongside tariff pressures. Shares of the company fell about 14% after the closing bell. The sportswear maker has failed to spark a wave of buying from consumers grappling with inflation […]
A Trump administration request that Japan buy more US rice caused this week’s snag in bilateral trade talks as Tokyo “strongly objected” to the condition, the Nikkei newspaper reported on Saturday. Japan’s top tariff negotiator abruptly canceled a US trip on Thursday over unspecified “points that need to be discussed at the administrative level,” the […]
