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Activist Ancora on Thursday won the support of the BMWED Teamsters in the investor's efforts to oust Norfolk Southern CEO Alan Shaw and a majority of the railroad's 13-person board. The labor group said it would back the activist's seven director nominees over Norfolk Southern management, a significant endorsement in an industry unusually dependent on union support. The support from the BMWED Teamsters, whose members build and maintain the track infrastructure that keeps Norfolk Southern trains moving, amounts to a sharp rebuke of Shaw and Norfolk Southern's board. Norfolk Southern and Ancora have been locked in a proxy contest for several months. Neuberger Berman, for example, is backing the activist and said that Norfolk Southern had a history of poor governance and that a boardroom change was needed.
Persons: Ancora, Alan Shaw, Shaw, Tony Cardwell, Cardwell, Jim Barber, Jamie Boychuk, Boychuk, Barber, It's, John Orr, Glass Lewis, Neuberger Berman Organizations: Thursday, Teamsters, Norfolk Southern, Norfolk, BMWED Teamsters, Labor, American Federation of Labor, Industrial Organizations, CSX, Ancora Locations: Norfolk Southern, Norfolk, U.S, East Palestine , Ohio, Washington
The Biden administration is preparing to publicly accuse several Chinese hackers of conducting sweeping hacks against US companies on behalf of China’s civilian intelligence service, three people familiar with the matter told CNN. An announcement identifying the hackers with names and photos is expected as soon as Monday, the sources said. The hackers have been using a Chinese technology company as a front to cover their hacking activity, one of the sources said. The British government is also preparing to accuse the hacking group of targeting UK organizations, the sources said. The cybersecurity industry knows the hacking group as APT31 or Judgement Panda, and researchers have found the hackers targeting everything from US law firms to European industrial organizations to international apparel companies.
Persons: Biden, Christopher Wray, Xi Jinping, Joe Biden, Wray Organizations: CNN, of State Security, Embassy, The, Microsoft Locations: Washington ,, China, Beijing, Wuhan, Tibet, Hong Kong
The UK's AI summit is underway. Some AI experts and startups say they've been frozen out in favor of bigger tech companies. They warn that the "closed door" event risks ensuring that AI is dominated by select companies. The UK's AI summit aims to bring together AI experts, tech bosses, and world leaders to discuss the risks of AI and find ways to regulate the new technology. "It is far from certain whether the AI summit will have any lasting impact," Ekaterina Almasque, a general partner at European venture capital firm OpenOcean, which invests in AI, told Insider.
Persons: Elon Musk, Sam Altman, , OpenAI's Sam Altman, Brad Smith, Kamala Harris, Iris Ai, Victor Botev, Yann LeCun, Rishi Sunak, Ekaterina Almasque, Almasque, Goldman Sachs Organizations: Service, OpenAI's, Microsoft, Twitter, UK, Big Tech, UK government's Department for Science, Innovation, Technology, UK's Trades Union Congress, American Federation of Labor, Industrial Organizations, Summit Locations: OpenOcean
WASHINGTON — A Republican lawmaker Wednesday told Teamsters General President Sean O'Brien to "shut your mouth" in a terse exchange at a hearing examining so-called union busting by U.S. companies. O'Brien said the International Brotherhood of Teamsters had examples of employers illegally pressuring workers not to join unions. When O'Brien said Mullin was out of line, the lawmaker shot back: "You need to shut your mouth." "You think you're smart? You think you're funny?
In an email to employees announcing layoffs, PagerDuty's CEO quoted Martin Luther King Jr.People on Twitter quickly criticized her use of a quote from the noted civil rights activist. In paragraphs before mentioning the layoffs, Tejada referenced the uncertainty of macroeconomic conditions and said the company is changing its current operating mode. Tom Gara, a technology communications manager at Meta, said on Twitter that Tejada's email was an "all time classic bad layoff announcement." Although King is largely remembered for his civil rights activism, he was also a proponent of unions and workers' rights. Tejada, who became CEO of the San Francisco-based company in 2016, has referenced King before.
Gig company stocks were hammered by the news, with Uber (UBER.N), Lyft (LYFT.O) and DoorDash (DASH.N) all falling at least 10%. The proposal would require that workers be considered employees, entitled to more benefits and legal protections than contractors, when they are "economically dependent" on a company. Millions of Americans are working "gig" jobs and this labor has become vital to some transportation, restaurant, construction, health care and other industries. "Misclassification deprives workers of their federal labor protections, including their right to be paid their full, legally earned wages," Walsh said. Seth Harris, President Joe Biden's former top labor adviser, said the rule will not directly impact how courts determine whether workers are employees or independent contractors.
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