Corporate governance - Vigil

CNN Chief Marketing Officer Allison Gollust has resigned from the network, the chief executive of CNN’s parent company said in a memo to employees on Tuesday.

Worth more than $16 billion from a lifetime of Wall Street fights, he says he has created over $1 trillion in stock gains for investors because decision makers aren’t beholden to true democracy.

In practice, these changes will enable Ontario’s financial regulators to understand where ultimate control of a corporation lies and where money is being allocated—a further step toward making private corporations more transparent.

Commodities giant Glencore made a provision of $1.5 billion to cover a series of regulatory investigations in the U.S., the U.K. and Brazil into allegations of bribery, saying it expected the probes that have long bedeviled the company to be resolved this year.

Telecommunications technology startup EdgeQ Inc. on Tuesday named former Federal Communications Commission Chairman Ajit Pai to its board of advisers as the 5G chip company faces regulatory uncertainty.

Ms. Fraser, who became chief executive on March 1, 2021, was given a salary of $1.33 million and a cash bonus of $6.35 million. The bulk of her compensation—$14.82 million—is in restricted stock tied to performance metrics.

SoftBank has backed its biggest deal yet in Canada’s teeming technology sector, a US$270-million financing of Paper Education Co. Inc. that values the Montreal tutoring-by-text company at US$1.5-billion.

The threat of a Russian invasion of Ukraine is shaking up a fragile global oil market, pushing prices closer to $100 a barrel as traders calculate that supplies will struggle to cushion the effect from any significant disruption in Russian fossil fuel exports.

Cisco Systems has made a takeover offer worth more than $20 billion for software maker Splunk Inc., according to people familiar with the matter, in what would be the networking giant’s biggest acquisition ever.

A multibillion-dollar share sale by Life Insurance Corp. of India, the country’s largest insurer, will test global appetite for Indian stocks after a pullback by foreign investors.

ViacomCBS said it is renaming itself Paramount Global and will refer to itself as Paramount, underscoring the company’s emphasis on its Paramount+ streaming service and evoking the heritage of its roughly century-old film studio.

Blackstone has agreed to buy rental apartment owner Preferred Apartment Communities in a $5.8 billion deal that demonstrates the strong investor demand for multifamily properties in Sunbelt states.

Elon Musk donated roughly $5.7 billion worth of Tesla Inc. shares to charity last year, according to a securities filing Monday, making him by at least one measure one of last year’s top philanthropic donors.

Executives at large U.S. companies, including General Motors Co. , XPO Logistics Inc. and Levi Strauss & Co., said they aren’t overly concerned about tighter monetary policy, given that interest rates are set to rise from low levels.

Intel Corp. agreed to buy Israeli chip company Tower Semiconductor for nearly $6 billion, bolstering a plan to make more chips for other companies.

Retirement funds are clamoring to invest in private-market loans, hungry for an asset that can beat public markets while at the same time throwing off cash to help pay benefits. 

The Texas attorney general filed a suit against Facebook parent Meta Platforms on Monday, charging that the social-media giant’s longstanding and now discontinued use of facial-recognition technology violated that state’s privacy protections for personal biometric data.

Crown Resorts, one of Australia’s biggest casino operators, said Monday that it agreed to a $6.3 billion takeover by Blackstone, following a roughly yearlong effort by the U.S. private-equity giant to acquire the company.

For a handful of companies in the business of keeping factories running and supply chains intact, these frustrations have been a source of cheer—and profits. Japanese makers of industrial equipment, in particular, have seen orders surge as companies turned to automation, first amid the disruption wrought on human workforces by covid-19, then as a result of tight labour markets and rising wage costs.

A former Goldman Sachs managing director is set to go on trial Monday on charges related to the multibillion-dollar looting of a Malaysian government fund, bringing renewed scrutiny to the Wall Street institution’s role in the international scandal.

The Delaware Supreme Court recently affirmed Vice Chancellor Laster’s much talked of AB Stable post-trial decision, holding that the buyer of a $5.8 billion hotel portfolio could terminate the transaction due to, among other things, the seller’s breach of an ordinary course covenant by making operational changes in response to the COVID-19 pandemic.