DIRS.INFO The most relevant business & tech news

☆ Tesla execs Drew Baglino and Rohan Patel depart as company announces steep layoffs
▼ + stars: | 2024-04-15 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Tesla executives Drew Baglino and Rohan Patel announced Monday they are leaving the electric vehicle maker and clean energy company. CEO Elon Musk thanked both departing execs on X, the social network he owns and runs as chief technology officer. Baglino had worked with Tesla since its early years, starting as a firmware and electrical engineer in 2006. Patel and Baglino had been deeply involved in battery and vehicle manufacturing, related policy, and turning Tesla into a multinational EV manufacturer. Baglino wrote in a post on X:"I made the difficult decision to move on from Tesla after 18 years yesterday.

Persons: Drew Baglino, Rohan Patel, Elon Musk, execs, Tesla, Baglino, Patel, Barack Obama, gratified, Musk Organizations: Tesla, Reuters Locations: London, England

☆ A major Tesla executive left after 18 years at the company amid mass layoffs
▼ + stars: | 2024-04-15 | by ( Grace Kay | ) www.businessinsider.com time to read: +1 min

Drew Baglino, Tesla's SVP of powertrain and electrical engineering, resigned from Tesla on Sunday. The executive had worked at Tesla for over 18 years. AdvertisementDrew Baglino, Tesla's senior vice president of powertrain and electrical engineering, announced he'd left the company, becoming the latest major executive to depart Elon Musk's EV giant after the CFO stepped down in August last year. "I made the difficult decision to move on from Tesla after 18 years yesterday," Baglino wrote on X on Monday. "I am so thankful to have worked with and learned from the countless incredibly talented people at Tesla over the years.

Persons: Drew Baglino, Baglino's, Tesla, —, Tesla's, he'd, Baglino, gratified Organizations: Tesla, Service, Elon, Business Locations: Tesla's

NASHVILLE, Tenn. (AP) — A district attorney in Tennessee has dropped charges against country singer Chris Young stemming from an encounter with Alcoholic Beverage Commission agents who were doing compliance checks. The agents were checking the Tin Roof bar in Nashville when they asked to see Young's identification, the arrest affidavit said. As the agents were leaving that bar, Young put his hands out to stop them and struck one agent on the shoulder, according to the affidavit. Political Cartoons View All 253 ImagesWhen another agent approached Young, the singer stepped back and declined to follow orders, so he was arrested, the affidavit said. While agents were attempting to leave, multiple people with Young started following them, creating a hostile situation, the affidavit said.

Persons: Chris Young, Glenn Funk, Young, “, ” Young, Bill Ramsey, Ramsey, ” Organizations: Alcoholic Beverage, Nashville Locations: Tenn, Tennessee, Nashville

Lily Gladstone knew she wanted to be somewhere special when the Oscar news came. “I wanted to be as close to Mollie Kyle and her family as I could be. But Gladstone pointed out that the film was not only about what she called the “horrible, complicated, skewed love” between Mollie and Ernest. It is also, she said, about “the love that Mollie and her community had for each other. As an actor and then, how I can help get other stories told that deserve to be out there.

Persons: Lily Gladstone, Oscar, Martin Scorsese’s, “, ” Gladstone, Mollie Kyle, Gray, Gladstone’s, She’s, I’ve, ”, …, David Grann’s, Mollie, Ernest Burkhart, Leonardo DiCaprio, Robert De Niro, Gladstone, Ernest, “ I’ve, that’s Organizations: Gray Horse, Globe Locations: Oklahoma, American, Pawhuska , Oklahoma, Fairfax, Seattle, Blackfeet, Montana

☆ Chinese court starts hearing lawsuits against Malaysia Airlines over missing flight MH370
▼ + stars: | 2023-11-27 | by ( Nectar Gan | ) edition.cnn.com time to read: +7 min

Jiang Hui speaks with CNN in an interview in Beijing on November 21, 2023, days before a Chinese court began hearing lawsuits over the disappearance of Malaysia Airlines flight MH370. All of them are international companies headquartered outside China, though Malaysia Airlines, Boeing and Roll-Royce have offices in China. In Malaysia, two young boys who lost their father on the flight sued Malaysia Airlines for breach of contract and the Malaysian government for negligence in 2014. In China, families who signed a settlement agreement with Malaysian Airlines received 2.5 million yuan ($350,000) in compensation. Only a few dozen Chinese families signed initially, but over the years more have opted to settle.

Persons: Jiang Hui, Jiang Cuiyun, MH370, Jiang, ” Jiang, Royce, Covid, “, ”, – Organizations: Beijing CNN —, Malaysia Airlines Flight, CNN, Court, Maylasia Airlines, Boeing, Malaysia Airlines, Allianz, Rolls, Malaysian, Malaysian Airlines Locations: China, Beijing, Malaysia, Kuala Lumpur, Chaoyang District, United States, Africa, Australia, Mauritius, Madagascar

LOS ANGELES (AP) — John Bailey, a cinematographer who led the Academy of Motion Picture Arts and Sciences during the initial #MeToo reckoning, died Friday at 81. Bailey died “peacefully in his sleep” in Los Angeles, his wife, Carol Littleton, said in a statement distributed by the film academy. The moves sparked immediate backlash, including fears that the new category would relegate hits like that year's “Black Panther” out of contention for the best film award. A month later, the “outstanding achievement in popular film” award had been tabled. Bailey is survived by Littleton, a former Academy governor and film editor who was nominated for an Oscar for “E.T.

Persons: — John Bailey, Bailey, “, Carol Littleton, Bailey —, ”, —, Weinstein, ” Bailey, Bailey's, CEO Dawn Hudson, Oscar Organizations: ANGELES, Academy of Motion Picture Arts, Sciences, Academy, Governors, CEO, Associated Press, Hollywood Locations: Los Angeles, Littleton

☆ Powell says Fed is 'not confident' it has done enough to bring inflation down
▼ + stars: | 2023-11-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

For the second time in recent weeks, a public speech from Powell was interrupted by climate protesters. Powell said that inflation is "well above" where the Fed would like to see it. "The Fed will be true to its mandate and hike further should inflation reaccelerate." "Monetary policy is generally working the way we think it should work" Powell said during a discussion following his speech. But Powell noted that the Fed is "attentive" that stronger than expected growth could undermine the fight against inflation and "warrant a response from monetary policy."

Persons: Jerome Powell, Powell, Stocks, Jeffrey Roach, Jacques Polak Organizations: International Monetary Fund, Dow Jones, Treasury, LPL, CME Group, Traders, Gross, Research Locations: Washington ,

☆ Are Higher Rates Slowing the Economy? A Zoo Offers Clues.
▼ + stars: | 2023-11-02 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +1 min

But they are also looking for further evidence that their moves are working to restrain the economy. “The same is true of growth.”But he said that economic growth, which is mainly powered by consumer spending, would most likely need to slow for inflation to fully return to a normal pace. It is now running at about 3.4 percent, still well above the Fed’s 2 percent goal. “What we do with demand is still going to be important,” he said. Surveying the economy reveals that the effects of the Fed’s rate moves are clear in some places, are mixed in others and have yet to make much of a dent elsewhere.

Persons: we’ve, Jerome H, Powell, “, ” Organizations: Fed

Fullerton, Wilson and two other officers were charged in connection with 18-year-old Nicholas Feliciano's suicide attempt at the Rikers Island jail complex on Nov. 27, 2019. Prosecutors said jail guards were seen on surveillance video walking past Feliciano and taking no action for seven minutes and 51 seconds. An investigation report by the city Board of Correction later found that the officers believed Feliciano was faking a suicide attempt. David Rankin, a lawyer for Feliciano's family, said they are “gratified” that the two guards took responsibility in pleading guilty. The Correction Officers’ Benevolent Association has called the officers' indictments politically motivated and called on prosecutors to charge inmates who assault guards.

Persons: Daniel Fullerton, Mark Wilson, Wilson, Nicholas Feliciano's, Feliciano, Prosecutors, Wilson's, David Rankin, Fullerton Organizations: New, Daily News, Fullerton, of, Fullerton . Information, Correction Department, ’ Benevolent Locations: New York City, Rikers, Bronx

☆ Restaurant Serves up Food, Comfort During Lewiston Manhunt
▼ + stars: | 2023-10-27 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +3 min

By Gabriella BorterLEWISTON, Maine (Reuters) - At Best Thai II in coastal Maine, the phone has been ringing off the hook. But at Best Thai II - one of the only restaurants open this week - business has been bustling since owner Pongsakorn Hanjitsuwan opened his doors hours after the shootings. Hanjitsuwan opened his restaurant after weighing the risk with staff. In Auburn, the town adjacent to Lewiston, the checkout line at Roy's Foodland wrapped around the store all through Thursday. The family-owned store, opened 48 years ago, was the only option as all the big chains were shuttered.

Persons: Gabriella Borter, Pongsakorn Hanjitsuwan, We're, we've, Hanjitsuwan, Robert Card, Maria, Toni Martin, Martin, Michael Roy, Roy, Paul Thomasch, Rod Nickel Organizations: Grocery, Bath, Auburn Locations: Gabriella Borter LEWISTON , Maine, Maine, Bath, McDonald's, Auburn , Maine, Auburn, Lewiston

But at Best Thai II - one of the only restaurants open this week - business has been bustling since owner Pongsakorn Hanjitsuwan opened his doors hours after the shootings. Hanjitsuwan opened his restaurant after weighing the risk with staff. For regulars, the restaurant has been a comfort; a place not only to find food but to mix with others sharing the shock and grief that has descended on the region. In Auburn, the town adjacent to Lewiston, the checkout line at Roy's Foodland wrapped around the store all through Thursday. The family-owned store, opened 48 years ago, was the only option as all the big chains were shuttered.

Persons: Gabriella Borter, Pongsakorn Hanjitsuwan, We're, we've, Hanjitsuwan, Robert Card, Maria, Toni Martin, Martin, Michael Roy, Roy, Paul Thomasch, Rod Nickel Organizations: Lewiston, REUTERS, Rights, Grocery, Bath, Auburn, Thomson Locations: Bath , Maine, U.S, Rights LEWISTON , Maine, Maine, Bath, McDonald's, Auburn , Maine, Auburn, Lewiston

NEW YORK (AP) — A grant program for businesses run by Black women was temporarily blocked by a federal appeals court in a case epitomizing the escalating battle over corporate diversity policies. Circuit Court of Appeals temporarily prevents the Fearless Fund from running the Strivers Grant Contest, which awards $20,000 to businesses that are at least 51% owned by Black women, among other requirements. In a statement Sunday, the Atlanta-based Fearless Fund said it would comply with the order but remained confident of ultimately prevailing in the lawsuit. “We strongly disagree with the decision and remain resolute in our mission and commitment to address the unacceptable disparities that exist for Black women and other women of color in the venture capital space,” the Fearless Fund said. The Fearless Fund has enlisted prominent civil rights lawyers, including Ben Crump, to defend against the lawsuit.

Persons: Edward Blum, “, Thomas W, program's, ” Blum, Judge Charles R, Wilson, Ben Crump, ” Organizations: Circuit, American Alliance for Equal Rights, Civil, U.S, District Locations: Atlanta, Black, U.S .

Circuit Court of Appeals on a 2-1 vote granted a request by Edward Blum's American Alliance for Equal Rights to temporarily block Fearless Fund from considering applications for grants only from businesses led by Black women. Blum's group asked the court to do so while it appealed a judge's Tuesday ruling denying it a preliminary injunction blocking Fearless Fund from moving forward with its "racially exclusive program." Fearless Fund did not immediately respond to requests for comment. According to the Fearless Fund, businesses owned by Black women in 2022 received less than 1% of the $288 billion that venture capital firms deployed. It also provides grants, and Blum's lawsuit took aim at its Fearless Strivers Grant Contest, which awards Black women who own small businesses $20,000 in grants and other resources to grow their businesses.

Persons: Ben Crump, Arian Simone, Ayana Parsons, Mylan Denerstein, Alphonso David, Eduardo Munoz, Edward Blum's, Blum's, Grant, Robert Luck, Andrew Brasher, Thomas, Donald Trump, Blum, JPMorgan Chase, Strivers, Nate Raymond, Alexia Garamfalvi, Andrea Ricci Organizations: Fund, REUTERS, Supreme, Circuit, Edward Blum's American Alliance for Equal Rights, U.S, District, American Alliance for Equal Rights, Harvard University, University of North, JPMorgan, Bank of America, MasterCard, Thomson Locations: New York, U.S, Atlanta, Texas, University of North Carolina, Black, Boston

[1/2] A sign for the Royal Bank of Canada in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio Acquire Licensing RightsNEW YORK, Sept 21 (Reuters) - A U.S. federal judge on Thursday said American cities may pursue class-action claims accusing eight large banks of driving up interest rates they paid on a popular municipal bond. Cities led by Baltimore, Philadelphia and San Diego accused the banks of colluding to raise rates on more than 12,000 variable-rate demand obligations (VRDOs) from 2008 to 2016. Cities accused the eight banks of conspiring not to compete for remarketing services, and artificially inflating rates by sharing information about bond inventories and planned rate changes. The case is Philadelphia et al v Bank of America Corp et al, U.S. District Court, Southern District of New York, No.

Persons: Carlos Osorio, Jesse Furman, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Wells, San Diego, Banks, Furman, Dan Brockett, Jonathan Stempel, Marguerita Choy Organizations: Royal Bank of Canada, REUTERS, U.S, Bank of America, Barclays, Citigroup, JPMorgan, Municipal Securities Rulemaking Board, al, Bank of America Corp, Court, Southern District of, Thomson Locations: Toronto , Ontario, Canada, Manhattan, Baltimore, Philadelphia, San, colluding, U.S, Southern District, Southern District of New York, New York

The Holbrooke award, named for the late U.S. diplomat, is presented by the Ohio-based Dayton Literary Peace Prize Foundation. In 1995, Holbrooke helped broker the Dayton Peace Accords that ended the Bosnian War, a conflict Cisneros has thought of often. Civilians and unborn generations ever after suffer with the shrapnel of that conflict embedded in their psyche like hidden landmines. I just returned from Sarajevo, and I know this is true,” Cisneros said in a statement. Previous recipients of the Holbrooke award include Elie Wiesel, Margaret Atwood and Louise Erdrich.

Persons: Sandra Cisneros, Richard C, Holbrooke, ” Cisneros, Alfredo Cisneros, Cisneros, “, Carla Hayden, Elie Wiesel, Margaret Atwood, Louise Erdrich Organizations: Macondo Foundation, Moral Foundation, Dayton, Dayton Peace Accords Locations: Mango, U.S, Ohio, Dayton, Bosnian, Sarajevo

☆ Opinion | A Fitting Final Gift From Jimmy Carter
▼ + stars: | 2023-08-28 | by ( Daniela J. Lamas | ) www.nytimes.com time to read: +2 min

But Mr. Carter and his family were able to see it differently. After a series of short hospital stays, this winter Mr. Carter made what for so many is an impossible decision. It would have been easy for him to obfuscate the truth of his medical condition, but Mr. Carter had no interest in doing so. When it came to the transition to hospice care, Mr. Carter was no different. “This is intentional,” Mr. Alter noted.

Persons: Carter, ” Jonathan Alter, ” Mr, Alter’s, “, Carter’s, Mr, Alter, ” Organizations: White Locations: U.S

☆ Your Amazon packages will soon come faster — if that's even possible
▼ + stars: | 2023-07-31 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Amazon announced its plans to double its same-day delivery sites in the coming years. The plans come months after Amazon said it ramped up the pace of some deliveries to "within hours." Amazon is planning to double its number of same-day delivery facilities "in the coming years," the company said in a press release. But more same-day delivery sites could also increase in the number of packages and stops for drivers, which in turn, could lead to harsher working conditions. Rising temperatures could also make the work of delivery drivers harder.

Persons: Amazon, Doug Herrington Organizations: Amazon Locations: Los Angeles, Phoenix, San Francisco

☆ Australia digests 'hollow' Ashes retention in Manchester rain
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

"Rarely could the Ashes have been secured in more hollow circumstances, with almost two days of rain saving Australia from what appeared certain defeat," wrote Malcolm Conn in the Sydney Morning Herald. "Despite being robbed of victory by the weather, England have only themselves to blame for being on the wrong side of history," Conn added. "England were in charge of the first test at Edgbaston before the cult of Bazball resulted in an over-optimistic declaration and reckless batting." Gideon Haigh, writing in the Australian, was kinder to the English but equally wary of any sort of celebrations over the retention of the Ashes. Reporting by Nick Mulvenney; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: John Sibley SYDNEY, Malcolm Conn, Conn, Gideon Haigh, Haigh, Nick Mulvenney, Jamie Freed Organizations: England, Old, Old Trafford Cricket, Australia, Manchester, Sydney Morning Herald, Edgbaston, Thomson Locations: Australia, Old Trafford, Manchester, Britain, England, Edgbaston

Marc Tessier-Lavigne, a renowned neuroscientist, announced on Wednesday that he would step down from his position as president of Stanford University, after the release of an external review of his scientific work found fault with several high-profile journal articles published under his purview. A committee drafted the review in response to allegations that Dr. Tessier-Lavigne was involved in scientific misconduct. In its report, which focused on 12 academic papers, the committee said there was no evidence that Dr. Tessier-Lavigne had knowingly falsified data or withheld such information from the public. In response, Dr. Tessier-Lavigne vowed to retract three of the five articles, request major corrections for two and step down from his position as president. “I am gratified that the panel concluded I did not engage in any fraud or falsification of scientific data,” Dr. Tessier-Lavigne said in a statement, adding: “Although I was unaware of these issues, I want to be clear that I take responsibility for the work of my lab members.”

Persons: Marc Tessier, Lavigne, Tessier, Randy Schekman, Shirley Tilghman, Dr . Tessier, . Tessier, “, Dr, ” Organizations: Stanford University, Physiology, Princeton University

☆ Opinion | On Race and Academia
▼ + stars: | 2023-07-04 | by ( John Mcwhorter | ) www.nytimes.com time to read: +3 min

But I have always thought of that as racial preferences the way they should have been, merely additive around the margins. I was hired straight out of my doctoral program for a tenure-track job at an Ivy League university in its august linguistics department. Plus, I was brought on to represent a subfield within linguistics — sociolinguistics — that has never been my actual specialty. At the time I was not very politicized, and I assumed that my race had merely been a background bonus to help me get hired. I had been hired by white people who, quite innocently, thought they were doing the right thing by bringing a Black person onto the faculty.

Organizations: Ivy League university

☆ US judge approves Overstock's $21.5 mln Bed Bath & Beyond purchase
▼ + stars: | 2023-06-27 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

NEW YORK, June 27 (Reuters) - A U.S. bankruptcy judge on Tuesday approved Overstock.com's $21.5 million purchase of Bed Bath & Beyond's brand name, intellectual property and ecommerce platform. Overstock emerged as the winning bidder for the company's intellectual property in a deal worth $21.5 million, court filings showed on Thursday. Bed Bath & Beyond stores and inventory are not part of the deal. Bed Bath & Beyond is hosting a separate auction starting tomorrow for its Buy Buy Baby chain, which sells products for infants and toddlers. The Buy Buy Baby assets have attracted interest from investment firms Go Global Retail and Sixth Street Partners, according to media reports.

Persons: Vincent Papalia, Emily Geier, Dietrich Knauth, Alexia Garamfalvi Organizations: YORK, Bed, Go Global, Sixth Street Partners, Thomson Locations: Newark , New Jersey

☆ Counteracting microaggressions with positive interactions at work seems obvious, yet we need to actually do it every day
▼ + stars: | 2023-06-19 | by ( Josée Rose | ) www.businessinsider.com time to read: +7 min

As a woman and a person of color, I've been on the receiving end of many microaggressions. "It's not enough to simply eliminate negative interactions — we also need to encourage positive ones." "Different microvalidations will be affirming for different people and in different circumstances, so it's important to know your audience and context." Trans people can also be on the receiving end of micoaggressions at work . For those on the receiving end, the comments can feel anything but "micro," according to a recent Forbes article.

Persons: I've, microaggressions, —, Robin Lakoff, microvalidations, it's, Slack, I'm, aren't, I Organizations: Harvard, Service, Harvard Business, University of California, Forbes Locations: microvalidations, Berkeley

☆ US consumers' near-term inflation expectations hit two-year low; sentiment rises
▼ + stars: | 2023-06-16 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

Summary Consumer sentiment index rises to 63.9 in June from 59.2One-year inflation expectations drop to 3.3% from 4.2%Long-run inflation expectations dip to 3.0% from 3.1%WASHINGTON, June 16 (Reuters) - U.S. consumers' near-term inflation expectations dropped to more than a two-year low in June and the outlook over the next five years improved slightly, according to a survey on Friday that also showed sentiment perking up. "The Fed will be gratified that the surge in inflation expectations in the late-1970s and early 1980s has not been repeated," said Conrad DeQuadros, senior economic advisor at Brean Capital in New York. The University of Michigan survey's reading of one-year inflation expectations dropped to 3.3% this month, the lowest since March 2021, from 4.2% in May. The survey's preliminary reading on the overall index of consumer sentiment came in at a four-month high of 63.9 in June compared with 59.2 in May. Its measure of consumer expectations rose to 61.3 from 55.4 last month.

Persons: Conrad DeQuadros, Joanne Hsu, Robert Frick, Lucia Mutikani, Daniel Wallis, Chizu Organizations: University of Michigan's, Fed, Wednesday, Brean, The University of Michigan, Treasury, Reuters, Consumers, Navy Federal Credit Union, Thomson Locations: WASHINGTON, New York, U.S, Washington, Vienna , Virginia

☆ Americans are spending less money even as the Chinese spend more. Take a look at the 5 major US companies winning on China's spending spree.
▼ + stars: | 2023-05-15 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

As people in China get out of their homes to travel and spend, retail sales have improved in China, rising almost 11% year-on-year in March. In comparison, China's core inflation rose just 0.7% in March from a year ago, according to official data from Beijing. All this means American companies facing a slowdown in US consumption are getting a boost from Chinese demand. He added the MGM China division posted a "swift return to profitability." Net revenues for the MGM China division were also 130% higher from a year ago "amid strong reopening trends," MGM said in its earnings release.

Delaware Superior Court Judge Eric Davis denied motions from Fox and partially granted Dominion motions to resolve the issue of defamation liability ahead of the scheduled April 17 trial date. The ruling puts the high-profile case in the hands of a jury that will determine whether Fox acted with actual malice and whether Dominion suffered any damages. The judge ruled in Dominion's favor on some elements of defamation including that the allegedly defamatory statements by Fox concerned Dominion, that the statements had been published by Fox and were false. Davis, however, said in his ruling the doctrine would not shield Fox from liability, because the network did not conduct disinterested reporting. Fox faces a similar lawsuit by voting-technology company Smartmatic, which is seeking $2.7 billion in damages from Fox Corp, the cable network, Fox hosts and guests.

Search resuls for: "gratified"

25 mentions found