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Within hours of the surprise disclosure this week that Mr. Musk, a self-described “free speech absolutist,” acquired enough shares to become the top Twitter shareholder, political conservatives began flooding social media with calls for the return of Donald Trump. The former U.S. president was banned from Facebook and Twitter after the Jan 6. Capitol riot over concerns around incitement of violence.
Federal securities regulators are investigating how Amazon.com Inc. has disclosed some details of its business practices, including how it uses third-party-seller data for its private-label business, according to people familiar with the matter.
On the left, “quarterly capitalism” is shorthand for venal executives and greedy shareholders abusing workers and the environment in pursuit of unsustainable profits. On the right, critics fear short-term-oriented stockholders pressure management to make dumb decisions, depressing investment and the economy.
While still recovering from the disruptions of the global pandemic, many companies find themselves grappling with a new and, for the most part, unanticipated emergency. Russia’s invasion of Ukraine requires business leaders to remain in crisis-management mode. Many commentators suggest that what we are witnessing is only the beginning of a new, precarious period of reconfiguration of the world order, with unclear economic and political implications.
On Thursday of last week, Kohl’s sent a letter to shareholders, pushing back against activist investor Macellum Advisors campaign to add new directors to the retailer’s board. Macellum currently holds about 5% of Kohl’s stock and is among a group of activist investors attempting to take the company private. In January Kohl’s retained Goldman, Sachs & Co. as an advisor in response to the activist campaign launched by Macellum.
Amazon’s Project Kuiper said it secured up to 83 planned launches that would ferry satellites to orbit over a five-year stretch. The unit of the Seattle-based e-commerce giant hasn’t sent up any satellites yet, though it has said it will have two prototypes launched this year.
Several Chinese companies that face the prospect of being booted off American stock exchanges have come up with a way to keep their U.S. listings, while Beijing seeks to resolve a long-running audit standoff with Washington.
An investor accused Morgan Stanley of leaking information about a large sale of shares of Palantir Technologies Inc., saddling it with millions of dollars in losses.
The decision to ditch its renewable power assets spells the end of a two-decade foray into wind and solar for the Calgary-based company. In 2002, it partnered with Enbridge to build one of the first renewable energy projects in Canada. Since then, Suncor has developed eight wind power projects across Saskatchewan, Alberta and Ontario.
ByteDance Ltd.’s TikTok has proven so fierce a competitor for Meta Platforms that it mentioned the short-form video platform five times on its February earnings call. The company that essentially invented social media is now having to meaningfully alter its playbook to remain dominant in the game, possibly with lasting financial consequences.
Amazon.com Inc. Chief Executive Andy Jassy received compensation valued at $212.7 million in 2021, his first year as head of the tech and e-commerce giant.
JPMorgan boss Jamie Dimon warned on Monday that the bank could lose about $1-billion on its Russia exposure, the first time it has detailed the extent of its potential losses resulting from the conflict in Ukraine.
Cryptocurrency exchanges will soon have to report the digital tokens they hold for customers on their balance sheets, according to Securities and Exchange Commission accounting guidelines released on Thursday.
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As more companies report greenhouse gas emissions, the standards they follow are coming under sharper scrutiny amid criticism that they make the companies seem greener than they are.
Online investment manager Wealthsimple is now providing Canadian retail investors easier access to some of the largest venture capital firms in Silicon Valley that invest in health care and tech companies.
Online luxury retail platform Farfetch Ltd. is investing $200 million in Neiman Marcus Group, in a deal that shows how much the internet has upended luxury fashion.
In a letter to shareholders Monday, Hasbro Chairman Rich Stoddart said the board evaluated a tax-free spinoff of the unit, which houses properties like Magic: The Gathering and Dungeons & Dragons, and determined that it wouldn’t be in the best long-term interest of shareholders.
The National Football League star is listed as a partner on the website of a new company run by Declan Kelly, who resigned as chief executive of consulting firm Teneo in 2021 after behaving inappropriately at a charity event. He started his new firm, called Consello LLC, later that year.
Fast-fashion retailer Shein was valued at $100 billion in a recent funding round, according to people familiar with the matter, making the China-based apparel seller one of the world’s most valuable private companies.
A coalition of more than 60 groups that also includes banks, pension funds and others has signed on to back a new nonprofit aimed at promoting broad-based stock ownership, officials told The Wall Street Journal.
On Tuesday, Toronto-based Kinross said it is selling its Kupol mine and Udinsk development project for US$680-million to Russia’s Highland Gold Mining Ltd., which already operates in the Chukotka and Khabarovsk regions where Kinross’s properties are located. Toronto-based Kinross put its Siberian mines up for sale after the Russian invasion of Ukraine made it politically untenable to continue to operate there.
The Taxonomy is a classification system for organisations to identify which of their economic activities, or the economic activities they invest in, can be deemed ‘environmentally sustainable’. The Taxonomy defines environmentally sustainable activities as economic activities that make a substantial contribution to at least one of the EU’s environmental objectives, while, at the same time, not significantly harming any of these objectives and meeting minimum social safeguards. All financial market participants, all large companies and listed SMEs businesses will need to report against the Taxonomy.
Little Rock, Ark.-based Westrock sits in the middle of the supply chains for coffee, tea and other beverage ingredients, working with small-scale farmers around the world to eventually provide products for restaurants and brands such as Walmart Inc. and McDonald’s Corp. It says its operations account for more than 20 million cups of coffee daily from sustainable, digitally traceable supply chains.
On Monday, Howard Schultz is expected to step into a familiar role—slated to lead a town hall meeting with employees of Starbucks Corp., the coffee chain he built into a neighborhood cafe across the world. For years Mr. Schultz convened forums for workers to voice opinions and vent about the business, or converse on social issues such as race relations in America.
In this piece, I cover the implications of the new SEC’s proposed climate rules for auditors, standard setters and financial reporting (in part 2). I ask whether the SEC is trying to standardize disclosure of inherently idiosyncratic tools to decarbonize, could the SEC have asked more of the Big 4
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