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☆ American workers, and bosses, are struggling to find the turn off switch
▼ + stars: | 2024-06-27 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +5 min

"Work has changed drastically compared to what it was just 10 years ago," Haney said when he introduced the bill. Workers shouldn't be punished for not being available 24/7 if they're not being paid for 24 hours of work." U.S. business oppositionSome U.S. business interests have argued it's up to workers to set their own work-life balance. Many critics of the bill point to the complexity of establishing non-working hours for salaried employees —the California bill proposes to protect both hourly and salaried workers. Work was life, and life was something that happened on the way to and from work.

Persons: —, Matt Haney, Haney, Workers shouldn't, they're, it's, Jason Calacanis, SHRM, Alan Guarino, Korn Ferry Organizations: Assembly, Workers, Washington State, U.S, CNBC Locations: West Coast, California's, Francisco, France, . New York City, Europe, U.S, China, California

☆ Opinion: Bosses are striking back at workers who use mouse jigglers
▼ + stars: | 2024-06-26 | by ( Opinion Jeff Yang | ) edition.cnn.com time to read: +6 min

Especially the last bit: Corporate America is obsessed with ensuring their employees are staying productive when they’re working remotely, away from the gimlet eyes of management. It’s easy to imagine the types of pretend productivity gadgets these employees might have used: “mouse jigglers,” gizmos with a questionable name that make random, small motions of a mouse or touchpad. And Wells Fargo’s crackdown on these gadgets is just the latest attempt by big business to rein in perceived slacking by remote employees. That perceptual gap reflects a vast and growing mutual distrust between workers and employers in America. They’re how workers are battling back against boardroom Big Brother, in a technological arms race that’s only getting wilder as devices get more sophisticated.

Persons: Jeff Yang, Bruce ”, “, Jeff Yang CNN, Wells, They’re, they’re, wilder, I’ve Organizations: CNN, Bloomberg, Business, Intuit, Microsoft Locations: Asian America, America, New York , Connecticut, Delaware

☆ If you use these 3 phrases you have healthier boundaries at work than most employees
▼ + stars: | 2024-06-26 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +2 min

Almost half, 44%, of workers report feeling burned out, according to a 2024 survey by the Society for Human Resource Management. One way to keep your job from draining you is to set boundaries around who you interact with and what tasks you take on. Here are three phrases that can help you set healthy boundaries at work and come off as a team player. You can say: "Yes and I just need to get to these other tasks. If you are on a deadline or have an overwhelming amount of work to do, these meetings can be extra frustrating.

Persons: Brandon Smith, I've, Robert I, Sutton Organizations: Society for Human Resource Management, CNBC, Stanford University

☆ David Einhorn is suing the former employee who claimed to be his head of macro. Here are the most eye-catching parts of Greenlight's lawsuit.
▼ + stars: | 2024-06-25 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +8 min

Read previewDavid Einhorn warned James Fishback he was on "thin ice" less than a year after hiring him. Einhorn's firm, Greenlight Capital, is suing his former analyst, Fishback, Tuesday evening in New York. Advertisement"And, since he had absolutely no authority or discretion whatsoever over Greenlight's macro investment portfolio, he was not responsible for generating any profits, let alone 'over $100 million' of profits." Threats to disrupt Greenlight's partner dinnerThe suit claims Fishback threatened to stand outside Greenlight's annual gathering of investors and service providers with letters that "maliciously and disingenuously called into question Greenlight's macro investing abilities." AdvertisementThe review showed that Fishback had "almost no work files saved on Greenlight's network drive, and had engaged in very little activity on Greenlight's computer system.

Persons: —, David Einhorn, James Fishback, Fishback, Greenlight, Greenlight — Fishback, Azoria, Fishback's, Bari, Einhorn Organizations: Service, Greenlight, Business, Azoria Partners, Citi Locations: New York, Greenlight

☆ Prosecutors urge Justice Department to file criminal charges against Boeing over 737 Max
▼ + stars: | 2024-06-24 | by ( Chris Isidore | Evan Perez | ) edition.cnn.com time to read: +4 min

New York CNN —Prosecutors are urging the US Justice Department to file criminal charges against Boeing for safety issues surrounding its 737 Max, although top Justice Department officials haven’t made a final decision, a source familiar with the development tells CNN. And this month a group of those family members wrote a letter to the Justice Department urging Boeing be hit with the maximum possible $24.9 billion fine. The charges against Boeing don’t mean any Boeing executive will face charges as an individual. It has posted core operating losses of $31.9 billion since the start of the 20-month grounding of the 737 Max that followed its second fatal crash in 2019. But if the company faces criminal charges, a new settlement is the most likely outcome.

Persons: haven’t, Max, Richard Aboulafia Organizations: New, New York CNN — Prosecutors, US Justice Department, Boeing, CNN, Alaska Air, Justice Department, Federal Aviation Administration, FAA, Reuters, Justice, Department of Defense Locations: New York, Alaska

☆ Some student-loan borrowers have one week left to benefit from a temporary measure that'll bring them closer to debt cancellation
▼ + stars: | 2024-06-24 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Read previewSome student-loan borrowers are approaching the deadline to take advantage of a measure that could bring them closer to debt relief. They would bring them closer to the loan forgiveness promised through their repayment programs or push them over the threshold and automatically grant them debt relief. Most recently, the Education Department canceled $7.7 billion in student debt for 160,500 borrowers, some of which were a result of the one-time account adjustments. As of that May announcement, one of every 10 federal borrowers has now been approved for debt relief. AdvertisementThe department is also working on enacting its broader student-loan forgiveness plan, which is intended to benefit over 30 million borrowers.

Persons: —, Joe Biden's, Education James Kvaal Organizations: Service, Joe Biden's Education Department, Public, Business, Family Education, Federal Student Aid, Education, Education Department

☆ IRS to reject billions of dollars in ‘improper’ pandemic-era small business tax credit claims
▼ + stars: | 2024-06-21 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Danny Werfel, IRS commissioner, speaks after being ceremonially sworn in at the IRS headquarters in Washington on April 4, 2023. The IRS will deny billions of dollars' worth of claims for a pandemic-era tax break while working to process lower-risk filings, the agency said on Thursday afternoon. Enacted to support small businesses during the Covid-19 pandemic, the employee retention credit, or ERC, is worth thousands of dollars per eligible employee. However, the agency stopped processing new filings in September amid a surge of "questionable claims," the IRS said in a news release. Overall, compliance efforts for erroneous ERC claims have topped more than $2 billion since last fall, the IRS said.

Persons: Danny Werfel, Xers, Werfel Organizations: IRS, ERC, Finance, Social Security Locations: Washington

☆ Disney sued by 2 workers after it asked them to relocate from California to Florida to work at a $1 billion campus, which it later canceled
▼ + stars: | 2024-06-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Read previewTwo Disney workers have sued the company after it asked them to relocate from California and be based at a new Florida campus — which it later canceled. Last May, Disney scrapped plans to build the nearly $1 billion campus in Lake Nona, Orlando. AdvertisementIn June 2022, Disney told workers that the deadline to relocate to Florida had been pushed back to 2026 because the project's completion had been delayed, the lawsuit said. But then, in May 2023, Disney told employees that the Lake Nona project was canceled. It claims that Disney made untrue statements about the Lake Nona campus to workers to induce workers to relocate.

Persons: —, Bob Iger, Florida Sen, Ron DeSantis, Josh D'Amaro, Maria De La, George Fong, Disney, De La Cruz, Fong, Nona Organizations: Service, Disney, Florida, Business, Los Angeles Superior Court, Lake Nona, Disney's Locations: California, Florida, Lake Nona, Orlando, Glendale , Southern California, Maria De La Cruz, Lake, De, Disney's Kissimmee, Disney's California, Los Angeles

☆ Kevin Costner is leaving 'Yellowstone' before the final season is over. Here's a complete timeline of the behind-the-scenes drama.
▼ + stars: | 2024-06-21 | by ( Eve Crosbie | Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +2 min

Costner blames Paramount and 101 Studios for the "Yellowstone" negotiations drama. Cam McLeod/Paramount NetworkIn May, Costner shared his side of the "Yellowstone" negotiations drama during an interview with Deadline, saying that previous reports about the situation weren't "truthful." Costner accused Paramount and 101 Studios of mismanaging the situation and not sticking up for him when stories came out that he didn't want to be on set. Costner said he always made "Yellowstone" his "first priority," but said the show kept moving shoot dates, which affected the schedule for his "Horizon" movies. Costner added that he returned across three months to shoot season five, part two, but said the scripts weren't ready, so they couldn't shoot anything.

Persons: Costner, Kevin Costner, John Dutton, Cam McLeod, I've Organizations: Paramount, Studios, Paramount Network, Business Locations: Yellowstone

Trump’s campaign insists the former president is his own best adviser and he alone will make the call. Vance,” Trump Jr. told Newsmax in January. That’s a key concern of Trump’s top advisers who have otherwise let the former president dictate the process. “President Trump should not be made to explain other people’s scandals or statements.”Burgum’s wealth may have worked in his favor for a time when Trump trailed President Joe Biden in the money wars. But the recent influx of cash into the campaign following Trump’s fundraising blitz and criminal convictions has blunted that advantage.

Persons: Donald Trump, Donald Trump Jr, Sen, J.D, Vance, Rupert Murdoch, Trumpworld, Doug Burgum, Sean Hannity, Florida Sen, Marco Rubio, Trump, —, Burgum, Rubio, South Carolina Sen, Tim Scott, Elise Stefanik, Byron Donalds, Ben Carson, “, Susie Wiles, Chris LaCivita, Wiles, “ Susie, Nikki Haley, Scott, In Rubio, Hannity, Kellyanne Conway, Trump’s, Mike Pence, Conway, ” Conway, namechecked Donalds, Marc Andreessen, Brian Hook, Bill Ackman —, Ken Griffin, Griffin, Haley, Steve Bannon, Bannon, Paul, Trump’s Jesus, Jesus, ” Bannon, ” Trump, Newsmax, ” Tucker Carlson, Carlson, Vance “, I’ve, Pence, ”, bankroll, Marco Rubio’s, Joe Biden Organizations: CNN, Ohio Republican, North Dakota Gov, Fox News, Florida, Trump, Republican National Convention, House GOP, Florida Rep, Urban, Street, South Carolina Gov, Indiana Gov, Washington Post, Democratic Party, The New York Times, Wednesday, White, Politico, Trump Jr, GOP, Fox, North, Republican, New, ”, Wall Street, Murdoch’s, Corp, “ Locations: Milwaukee, South Carolina, Florida, New York City, Nevada, Conway, Mar, Washington, South Florida, Miami, Vance’s, North Dakota, White

☆ FDA OKs first menthol e-cigarettes, citing potential to help adult smokers
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: +3 min

The Food and Drug Administration on Friday authorized the first menthol-flavored electronic cigarettes for adult smokers, acknowledging that vaping flavors can reduce the harms of traditional tobacco smoking. The FDA said it authorized four menthol e-cigarettes from Njoy, the vaping brand recently acquired by tobacco giant Altria , which also sells Marlboro cigarettes. "This decision could mean we'll never be able to close the Pandora's box of the youth vaping epidemic," said Meredith Berkman, co-founder of Parents Against Vaping E-cigarettes. Njoy is one of only three companies that previously received FDA's OK for vaping products. Altria's data showed Njoy e-cigarettes helped smokers reduce their exposure to the harmful chemicals in traditional cigarettes, the FDA said.

Persons: Meredith Berkman, Vaping, —, vaping, Vuse, Matthew Farrelly Organizations: Drug Administration, FDA, Marlboro, Parents, Nielsen, Reynolds American, FDA's Center for Tobacco Products Locations: U.S

☆ For the Price of a Police Helicopter, New York Could Save the Arts
▼ + stars: | 2024-06-21 | by ( Ginia Bellafante | ) www.nytimes.com time to read: +2 min

The multiplier effect of culture in New York is huge both in economic and human terms. But arts funding does not consistently rise to meet it. From one vantage, the city’s cultural funding can look robust. Over the past decade, the money allocated to the Department of Cultural Affairs has increased considerably, as City Hall officials will point out. And at any rate, between 2023 and 2024, the overall budget decreased by $7 million to $241 million, as the migrant crisis required cuts across municipal divisions.

Persons: Mark Morris’s, Burt Bacharach, Shakespeare, Kathleen Chalfant Organizations: Broadway, Brooklyn Academy of Music, Department of Cultural Affairs, City Locations: New York, America, Forest Hills, Queens

☆ Kennedy Fails to Qualify for CNN Debate
▼ + stars: | 2024-06-20 | by ( Chris Cameron | ) www.nytimes.com time to read: +1 min

Robert F. Kennedy Jr. failed to qualify for the CNN presidential debate on June 27 by the network’s Thursday deadline, according to the outlet, a significant blow to his independent presidential bid that will deny him a coveted national stage alongside President Biden and former President Donald J. Trump. Qualifying for the CNN debate, one of two presidential debates scheduled before Election Day, would have been a plum prize for the Kennedy campaign. More than 73 million people watched the first debate between Mr. Biden and Mr. Trump in 2020, and Mr. Kennedy would have had the opportunity to confront his opponents in front of an extensive national audience. But Mr. Kennedy failed to meet two criteria. In the face of mounting challenges before the deadline, Mr. Kennedy had accused CNN of colluding with the Biden and Trump campaigns to exclude him from the debate, and filed a complaint to the Federal Election Commission accusing the network of violating campaign finance law.

Persons: Robert F, Kennedy Jr, Biden, Donald J, Kennedy, Trump, Ross Perot’s, George Bush, Bill Clinton of Organizations: CNN, Trump, Gov, Biden, Federal Locations: Texas, Bill Clinton of Arkansas

☆ Trump Media shares sink 12% as DJT slide accelerates
▼ + stars: | 2024-06-20 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

A sell-off of Trump Media picked up speed Thursday, with shares of former President Donald Trump's company falling as much as 15% shortly after the opening bell. The company behind the conservative social media app Truth Social, which trades on the Nasdaq as DJT, was hovering around $27 per share at the market's open. That price is more than 40% lower than it stood at the start of June, when Trump Media stock cost just over $49 a share. The slide represents a massive on-paper loss for Trump, the majority owner of Trump Media. After the bell, Trump Media revealed that the SEC had declared its registration statement effective.

Persons: Donald Trump, Donald Trump's Organizations: Trump Media, Nasdaq, Trump, New, Securities, Exchange, SEC Locations: Washington ,, New York

☆ TikTok ramps up attacks on Biden administration in challenging prospective ban
▼ + stars: | 2024-06-20 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

Whether the Biden administration overlooked a less restrictive alternative could become a factor in a potential test of the law’s constitutionality. In Thursday’s filing, TikTok said the agreement was never signed despite years of negotiations and dozens of meetings and phone calls with US government officials. The Trump administration tried to ban TikTok by executive action, but that was quickly stymied by legal challenges. US officials have not publicly presented evidence that China has accessed US users’ TikTok data. On Thursday, TikTok’s filing said the company has so far spent $2 billion voluntarily implementing Project Texas.

Persons: TikTok, Biden, Joe Biden, “, CFIUS, ’, Trump, Christopher Simkins, Simkins Organizations: CNN, US Air Force, Foreign Investment, Meta, Independent, Texas Locations: United States, TikTok, China

☆ Student loan forgiveness deadline is June 30. Here's what borrowers need to know
▼ + stars: | 2024-06-20 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Those with several student loans who apply for so-called loan consolidation by June 30 — a move that packages multiple federal student loans into a single new loan — may benefit from the temporary policy. Student loan borrowers have until the end of June to meet a deadline that could lead to quicker debt forgiveness. Many student loan borrowers have multiple education loans, either because they borrowed repeatedly throughout college or returned to school at some point. "Many borrowers will get complete debt cancellation, particularly those who have been paying for over twenty years," Fox said. Usually, a student loan consolidation restarts a borrower's forgiveness timeline to zero, making it a terrible move for those working toward cancellation.

Persons: Biden, Jane Fox, Fox Organizations: CNBC, Finance, Treasury Department Locations: deferments

☆ 'The Hunger Games' star Donald Sutherland dead at 88
▼ + stars: | 2024-06-20 | by ( Paul Squire | Olivia Singh | ) www.businessinsider.com time to read: +2 min

Donald Sutherland died in Miami at 88. He was known for roles in films such as "Animal House," "Klute," and the "Hunger Games" franchise. AdvertisementThe veteran award-winning actor Donald Sutherland, who played the villainous President Snow in the "Hunger Games" franchise, died at 88. AdvertisementDonald Sutherland as President Snow in the "Hunger Games" franchise. Sutherland starred in dozens of other notable films, including "Animal House," "Klute," "Pride & Prejudice," "Don't Look Now," and the "Hunger Games" franchise.

Persons: Donald Sutherland, Sutherland, Oscar, —, Snow, Kiefer Sutherland, Donald Sutherland's, Lionsgate Donald Sutherland, Vernon Pinkley, Hawkeye Pierce, Mikhail Fetisov, Judge Parker, Bass Reeves Organizations: Service, Business, Lionsgate, Globe, Paramount Locations: Miami, Saint John , New Brunswick, Canada, Hollywood

☆ RFK Jr. fails to qualify for CNN debate, setting up showdown between Biden and Trump
▼ + stars: | 2024-06-20 | by ( Katherine Koretski | Ben Kamisar | ) www.cnbc.com time to read: +2 min

Independent presidential candidate Robert F. Kennedy Jr. attends a press conference in the Brooklyn borough of New York, on May 1, 2024. Independent presidential candidate Robert F. Kennedy Jr. failed to qualify for the first presidential debate hosted by CNN next week, officially setting up a one-on-one clash between President Joe Biden and former President Donald Trump. Last month, Kennedy's campaign filed a Federal Election Commission complaint against CNN and the Biden and Trump campaigns, alleging the way they set up the June 27 presidential debate was illegal. Kennedy still has a chance to qualify for the Sept. 10 debate, hosted by ABC News. That debate has the same ballot access and polling criteria as CNN's, although it's unclear when the polling window will open.

Persons: Robert F, Kennedy Jr, Joe Biden, Donald Trump, Kennedy, Kennedy hadn't, Kennedy's, Stefanie Spear Organizations: CNN, Biden, Trump, NBC, ABC News Locations: Brooklyn, New York, Atlanta

☆ Caitlin Clark Is a Rorschach Test for Sports Fans
▼ + stars: | 2024-06-19 | by ( Lindsay Gibbs | ) www.businessinsider.com time to read: +9 min

But nothing that Clark does — or that is done to Clark — is treated as normal. That was just the latest bulletin in a months-long news cycle trailing everything Clark does. ESPN's Stephen A. Smith said WNBA players should go easier on Clark in games if they want to keep up record viewership: "Protect the golden goose." Related storiesThese days, watching Caitlin Clark play basketball has become a Rorschach test for a deeply divided country. Four years ago, WNBA players actually helped flip a Senate seat in Georgia.

Persons: Caitlin Clark, —, Clark, Clark —, Angel Reese, ESPN's Stephen A, Smith, Nikki Haley, Cathy Engelbert, Wilson, Michael Jordan Michael Hickey, she's, we've, Megan Rapinoe, Donald Trump, Brittney Griner, Matt Leinart, Reese, Pat McAfee, Eminem, Chennedy Carter, Carter, That's, I'm, Dijonai Carrington, Carrington vocalized, Emilee Chinn, Sabrina Ionescu, Breanna Stewart, A'ja Wilson, Clark Caitlin Clark, — infantilize, James Boyd Organizations: WNBA, Business, Chicago, CNN, Fox News, ESPN, Olympic, GOP, Chicago Sky, That's, Connecticut Sun, Getty, Black, Nike, The Locations: Iowa, Hollywood, Indiana, America, Georgia, Russia, Chicago, Washington ,, Connecticut

☆ DJT shares tumble 13% as Trump Media stock sell-off accelerates
▼ + stars: | 2024-06-18 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: +2 min

Shares of Trump Media & Technology Group dropped more than 13% on Tuesday, continuing the stock's tumble following the conviction of former President Donald Trump, the company's majority shareholder. Trump Media shares, which trade under the ticker "DJT," are down about 40% since May 30, when a New York jury found Trump guilty of 34 felony counts of falsifying business records. But the registration statement notes that holders of Trump Media warrants can exercise them on a "cashless basis" starting Tuesday and until the registration statement becomes effective. The warning comes just weeks after the former president — who uses Truth Social almost exclusively to make his public statements — joined the social media app TikTok. Trump Media & Technology Group disclosed a net loss of $327.6 million and total revenue of $770,500 in the first quarter of the year on its most recent earnings report, filed in May.

Persons: Donald Trump, Trump, Tuesday's, Donald J, — Organizations: Trump Media & Technology Group, Trump Media, New, Securities and Exchange Commission, Trump, SEC, Truth Locations: New York, TMTG

☆ Nvidia set to overtake Apple in $72 billion technology ETF shakeup after its monster 164% rally this year
▼ + stars: | 2024-06-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia is set to surpass Apple in a major technology ETF, triggering a $23 billion trade later this month. Microsoft, Apple, and Nvidia are all worth more than $3 trillion amid an ongoing AI-fueled tech boom. AdvertisementNvidia is poised to overtake Apple in one of the biggest technology ETFs later this month, sparking a massive $23 billion trade. A diversification rule in the tech ETF has limited the concentration of the fund in a big way. With Nvidia set to take the second spot from Apple, it will spark a massive combined trade worth more than $20 billion.

Persons: — Organizations: Nvidia, Apple, Microsoft, Service, Business, Bloomberg News, Bloomberg

☆ Taxpayer deadline today: Here's what to know
▼ + stars: | 2024-06-17 | by ( Sharon Epperson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTaxpayer deadline today: Here's what to knowJune may seem like an odd time to start preparing to next year's tax return. But CNBC's Sharon Epperson joins 'Squawk Box' to discuss why today marks an important deadline for millions of taxpayers.

Persons: Sharon Epperson

☆ Celtics capture 18th NBA championship with Game 5 win over Mavericks
▼ + stars: | 2024-06-17 | by ( Joe Vardon | ) www.nytimes.com time to read: +8 min

BOSTON — The Boston Celtics are again champions of the NBA, having claimed a milestone title Monday night that will reverberate from coast to coast and carve out legacies for the current pillars of this storied franchise. The Celtics beat the Dallas Mavericks 106-88 in Game 5 of the 2024 NBA Finals to win the series 4-1 and claim a league-record 18th NBA championship. Tatum finished with 31 points, 11 assists and eight rebounds, while Brown added 21 points. “(The Celtics are) a great team,” said Dončić, who played the series with a bruised chest and lower leg injuries. On the other end of the spectrum, Mazzulla, 35, is the youngest coach since the ABA-NBA merger in 1976 to win a title.

Persons: Joe Mazzulla, Larry O’Brien, it’d, ”, Jayson Tatum, “, ” Tatum, Jaylen Brown, Celtics ’, Tatum, Brown, Russell, it’s, ” Brown, Jayson, Payton Pritchard, PAYTON PRITCHARD, J. W, stu, Irv, ng, te, Kar, nin Organizations: BOSTON, Boston Celtics, NBA, Celtics, Dallas Mavericks, Garden, Celtic, Boston, Los Angeles Lakers, ” Celtics, ” Boston, Dallas, ABA Locations: Boston

☆ Hardware is Wall Street's new favorite bet
▼ + stars: | 2024-06-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at the Apple-Google partnership that shows why hardware has become Wall Street's new favorite bet . The big storyHardware is hotGetty Images; Chelsea Jia Feng/BISoftware may still eat the world, but only with the help of some serious hardware. But generative AI has put a considerable spotlight on a less sexy part of tech: hardware. That's playing out in the stock market, where hardware tech stocks have outperformed software tech stocks by 30 percentage points this year , writes BI's Matthew Fox.

Persons: —, Chelsea Jia Feng, Marc Andreessen's, Hugh Langley, That's, BI's Matthew Fox, it's, Steve Schwarzman, Jon Gray, Brian Ach, Tyler Le, Andy Sieg, Merrill Wealth, Dan Sundheim, Chris Tuite, Trump, Elon Musk, hasn't, Jimmy Simpson, they're, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, Elon, Apple, Business, Apple Intelligence, OpenAI, Google, Microsoft, Amazon, Oracle, Street, Nvidia, Broadcom, Blackstone, Merrill, D1 Capital, YouTube, Netflix, BI, Cannes Lions, advertising's Locations: That's, New York, London

☆ Activist Starboard amasses Autodesk stake, weighs suit over delayed probe disclosure
▼ + stars: | 2024-06-17 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Starboard's stake is valued at roughly $500 million, according to people familiar with the matter. The results of that probe led to the ouster of Autodesk's then-CFO, Deborah Clifford, who was moved to a different executive role within Autodesk. The probe found that executives manipulated reporting tied to company's contract billing structure, as Autodesk shifted back to upfront payments from annualized payments, to improve those metrics. The delayed disclosure came a little more than a week after the deadline to nominate directors closed. Starboard is weighing legal action in Delaware Chancery court to compel the reopening of Autodesk's nominating window and the delay of Autodesk's annual meeting, the people said.

Persons: Jeff Smith, Autodesk's, Deborah Clifford, Marc Benioff's Salesforce Organizations: Autodesk, Securities and Exchange Commission, Cisco, Wall Street, Sachem, Capital Management, Eminence Capital, Justice Department, SEC Locations: Delaware

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