DIRS.INFO The most relevant business & tech news

☆ Activist Investor Nelson Peltz Is Said to Sell His Disney Stake
▼ + stars: | 2024-05-29 | by ( Lauren Hirsch | More About Lauren Hirsch | ) www.nytimes.com time to read: +1 min

Nearly two months after losing an epic corporate battle to get on the board of the Walt Disney Company, Nelson Peltz is no longer an investor in the entertainment company. Mr. Peltz, the billionaire head of the hedge fund Trian Fund Management, controlled about $3.5 billion in Disney stock, a vast majority of it owned by Ike Perlmutter, a former chairman of Marvel Entertainment. Mr. Peltz has now sold his portion of those shares, a person familiar with the investment said, requesting anonymity to discuss confidential matters. By selling his shares, Mr. Peltz is seemingly removing a thorn in Disney’s side. Mr. Peltz, an activist investor, began criticizing Disney’s management under Robert A. Iger, the chief executive, early last year, pointing to the company’s streaming strategy, lagging stock price and succession planning.

Persons: Nelson Peltz, Peltz, Ike Perlmutter, Robert A, Trian Organizations: Walt Disney Company, Fund Management, Disney, Marvel Entertainment

☆ Vivek Ramaswamy is waging an expensive trolling campaign on BuzzFeed
▼ + stars: | 2024-05-29 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

In a letter to BuzzFeed’s board, a copy of which Ramaswamy posted online, the MAGA hardliner and former Republican presidential candidate recommended laying off large swaths of the company’s existing staff. He encouraged BuzzFeed’s board to transform the outlet into a creator-driven platform, suggesting it hire personalities akin to fellow radicals Candace Owens and Tucker Carlson. “Address your audience directly and candidly admit: We failed in our obligation to tell you the truth,” Ramaswamy encouraged BuzzFeed. But it was apparent that he does not view the right-wing entrepreneur’s ideas for the future of BuzzFeed as compelling. “I’m very skeptical it makes business sense to turn BuzzFeed into a creator platform for inflammatory political pundits.

Persons: Vivek Ramaswamy —, —, Ramaswamy, MAGA hardliner, BuzzFeed’s, Candace Owens, Tucker Carlson, BuzzFeed, Donald Trump, ” Ramaswamy, Jonah Peretti, MAGA, ” Jeffrey A Sonnenfeld, “, Vivek, Vivek Ramaswamy, Peretti, ” Peretti, ”, Sonnenfeld Organizations: New York CNN, Republican, “, Yale School of Management, Facebook, Huffington Locations: New York, Covid, BuzzFeed

☆ OpenAI's board learned about ChatGPT's release on Twitter, ex-board member says
▼ + stars: | 2024-05-29 | by ( Sarah Jackson | Jyoti Mann | ) www.businessinsider.com time to read: +1 min

OpenAI's board was as surprised as the public was by ChatGPT's 2022 release, a former member says. Helen Toner said the board "was not informed in advance" and actually learned about it on Twitter. AdvertisementThe release of ChatGPT took the world by surprise in 2022 — and a former OpenAI board member says that was the case for the company's board of directors, too. On November 30, 2022, OpenAI CEO Sam Altman tweeted a link to the chatbot, writing: "today we launched ChatGPT. But Helen Toner said the board wasn't given a heads-up about the release and learned about it from Twitter, now X.

Persons: Helen Toner, Sam Altman, —, ChatGPT Organizations: Twitter, Service, Business

☆ Adam Neumann Gives Up on Buying Back WeWork
▼ + stars: | 2024-05-28 | by ( Bernhard Warner | More About Bernhard Warner | ) www.nytimes.com time to read: +1 min

Adam Neumann has officially admitted defeat in his quest to buy back WeWork, ending his bid to acquire the co-working company that he helped found in 2010 and built into a global enterprise valued at $47 billion before it fell into bankruptcy last year. “For several months, we tried to work constructively with WeWork to create a strategy that would allow it to thrive,” Mr. Neumann said in a statement to the DealBook newsletter. Mr. Neumann stepped down as WeWork’s chief executive in 2019 under pressure from directors and investors, after the company failed to go public amid questions about its business model and corporate governance. It marked a stunning fall for Mr. Neumann, the company’s charismatic frontman. But in February, DealBook reported that Mr. Neumann was planning an audacious move to buy back the company.

Persons: Adam Neumann, WeWork, Mr, Neumann, DealBook Organizations: Mr

☆ OpenAI sets up safety and security committee and starts training 'next frontier model'
▼ + stars: | 2024-05-28 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

OpenAI has set up a new safety committee to advise the board on critical decisions. Sam Altman's company also said it had begun training a new flagship AI model. The move comes amid scrutiny over OpenAI's commitment to AI safety. AdvertisementOpenAI said it has set up a safety and security committee to make recommendations to the board on "critical safety and security decisions." The company also said it had begun training a new flagship AI model to succeed GPT-4.

Persons: OpenAI, Sam Altman's, —, Bret Taylor, Adam D'Angelo, Nicole Seligman, Sam Altman, GPT Organizations: Service

☆ OpenAI creates oversight team with Sam Altman on board, begins training new model
▼ + stars: | 2024-05-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

OpenAI on Tuesday said it created a Safety and Security Committee led by senior executives, after disbanding its previous oversight board in mid-May. The formation of a new oversight team comes after OpenAI dissolved a previous team that was focused on the long-term risks of AI. AI safety has been at the forefront of a larger debate, as the huge models that underpin applications like ChatGPT get more advanced. Bret Taylor, Adam D'Angelo, Nicole Seligman, who are all on OpenAI's board of directors, now sit on the new safety committee alongside Altman. Leike this month wrote that OpenAI's "safety culture and processes have taken a backseat to shiny products."

Persons: Sam Altman, OpenAI, Ilya Sutskever, Jan Leike, AGI, Bret Taylor, Adam D'Angelo, Nicole Seligman, Altman, CNBC's Hayden Field Organizations: Microsoft, Security Locations: Redmond , Washington

☆ BuzzFeed Clashes With Vivek Ramaswamy
▼ + stars: | 2024-05-28 | by ( Benjamin Mullin | ) www.nytimes.com time to read: 1 min

BuzzFeed’s newest activist investor, the former Republican presidential candidate Vivek Ramaswamy, wants the company to consider moves like hiring the former Fox News host Tucker Carlson and the N.B.A. Jonah Peretti, BuzzFeed’s founder and chief executive, has already rejected some of Mr. Ramaswamy’s requests out of hand, setting up a clash between the two men. Mr. Ramaswamy, an investor who has amassed an 8.3 percent stake in BuzzFeed, sent a letter to the company’s board of directors Monday criticizing its business practices and journalistic efforts. Though he has been steadily buying up stock for months, his intentions for the company didn’t become clear until this week. Before his brief run for president, Mr. Ramaswamy made a fortune in the pharmaceutical business, selling his company’s stake in promising firms to the Japanese conglomerate Sumitomo.

Persons: Vivek Ramaswamy, Tucker Carlson, Charles Barkley, Jonah Peretti, BuzzFeed’s, Ramaswamy’s, Ramaswamy Organizations: Republican, Fox News, Sumitomo Locations: BuzzFeed

☆ Should Elon Musk be paid $56 billion? Tesla shareholders get to vote
▼ + stars: | 2024-05-27 | by ( David Ingram | ) www.cnbc.com time to read: +10 min

Several investors released a joint letter this month urging fellow shareholders to vote down the package as excessive. Tesla shareholders approved the pay package in 2018, with compensation tied to Tesla's performance including its market value. And he still has time to meet goals he hasn't reached, including on revenue, because the pay package had a 10-year term. In the 440-page proxy statement explaining the vote, a committee of the Tesla board noted the "novel circumstances." Some people began sharing screenshots of their votes in April, shortly after the Tesla board announced the vote, and the deadline to vote online is June 12.

Persons: Elon Musk, The Beverly Hilton, Tesla, James Park, Musk, He's, Judge Kathaleen McCormick, McCormick, Nadya Malenko, hasn't, Ann Lipton, Lipton, — I'm, Musk's, there's, —, Rowe Price, didn't, Brad Lander Organizations: SpaceX, Tesla, The Beverly, Wall Street, University of California, CNBC, Bloomberg, Reuters, Boston College's, Tulane University, Disney, New York, Amalgamated Bank . Locations: Beverly Hills , California, U.S, Delaware, Austin , Texas, —, Los Angeles, Texas, New York City

☆ Netflix chief doesn't think AI programs are going to replace writers, actors, and directors
▼ + stars: | 2024-05-27 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMovie creatives and actors aren't going to lose their jobs to an AI program just yet, says Netflix co-CEO Ted Sarandos, 59. For several decades, the studios wouldn't license movies to television," Sarandos told The Times. Representatives for Netflix didn't immediately respond to a request for comment from BI sent outside regular business hours. AdvertisementMembers for both groups believed that cost-conscious studios could use AI to supplant writers and actors in their productions.

Persons: —, aren't, Ted Sarandos, Sarandos, Reed Hastings, Hastings, Greg Peters, Netflix didn't, AFTRA, OpenAI, Tyler Perry, Sora Organizations: Service, Netflix, New York Times, Business, Times, BI, Hollywood, Writers Guild of America, WGA, SAG

☆ How a global seafood giant broke Red Lobster
▼ + stars: | 2024-05-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +15 min

Former Red Lobster employees say that while the pandemic, inflation and rent costs impacted Red Lobster, Thai Union’s ineptitude was the pivotal factor in Red Lobster’s decline. Kenny criticized Red Lobster employees at meetings and made derogatory comments about them, according to former Red Lobster leaders who worked closely with Kenny. Red Lobster’s annual customer count has dropped by 30% since 2019, Red Lobster said in its bankruptcy filing. Red Lobster employees say they were pressured by Thai Union representatives to buy more seafood from Thai Union. Thai Union representatives also began sitting in on meetings between Red Lobster and seafood suppliers, said one of the former Red Lobster employees who witnessed these conversations.

Persons: “, Ludovic Garnier, Jorge Silva, Red Lobster’s, ”, Les Foreman, Red, Thiraphong Chansiri, Angel, Feng shui, Chansiri, Amanda Mustard, Paul Kenny, Kenny, ’, Kenny’s, Bill Darden, General Mills, Darden, Kelli Valade, Valade, Trin, Tapanya, Kevin Lamarque, Barry Fulghum, Lobster, Leah Millis Organizations: New, New York CNN, Thai Union Group, Red, Lobster, Thai Union, CNN, Red Lobster, John West Foods, longtime, Reuters, Thai, West Coast, Lobster’s, Bloomberg, Getty, Minor, Thai Union —, Union, Darden, Gate, Golden, Capital, Facebook, Thai Union . Thai Union, ” Thai Union Locations: New York, Thai, Thailand, Thai Union, United States, Orlando, Australian, Dallas, America, United, Texas, Spring , Maryland

☆ Wall Street is about to see its biggest trading change in years
▼ + stars: | 2024-05-24 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Buying or selling a stock is about to get a lot snappier starting next Tuesday. But that doesn’t mean it’ll get smoother, at least right away — and some financial firms are preparing to handle any possible bumpiness. Clearinghouses, which sit between buyers and sellers, collect margins from traders as evidence that they can afford to make the transaction. Baird has had a T+1 committee in place since last summer to ensure such hiccups don’t happen, Lee said. “The existing two-day period to settle trades exposes investors and the industry to unnecessary risk and is ripe for change,” Robinhood CEO Vlad Tenev said in a February 2021 release.

Persons: “, That’s, ” Gary Gensler, ”, Rich Lee, Baird, Lee, Reddit, Vlad Tenev, Max, Gregory Wallace, Brian West, Mike Whitaker, ” “, ” Whitaker, Read, Meta, that’s, Clare Duffy, Patrick Collison, Nat Friedman, Tobi Lütke, Charlie Songhurst, White, OpenAI Organizations: CNN Business, Bell, New York CNN, Securities and Exchange Commission, Employees, GameStop, AMC Entertainment, AMC, Robinhood, Investors, Boeing, FAA, Federal Aviation Administration, Wolfe Research, ABC, Microsoft, Meta Locations: New York, OpenAI

☆ Meta created an AI advisory council that’s composed entirely of White men
▼ + stars: | 2024-05-23 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Meta this week appointed a group of outside advisors to provide guidance on its artificial intelligence strategy. The four-person advisory group is composed entirely of White men. The situation mirrors an incident last year at OpenAI when, in the wake of a leadership shakeup, it came under fire for appointing a board composed entirely of White men. The large language models that underpin AI systems are trained on vast troves of data, often written by humans and coming from the internet. Meta did not immediately respond to a request for comment on the council’s lack of diversity.

Persons: Patrick Collison, Nat Friedman, Tobi Lütke, Charlie Songhurst, White, OpenAI, ” Joy Buolamwini, Meta Organizations: New, New York CNN, Microsoft, Meta, League, CNN Locations: New York, OpenAI

☆ House v. NCAA: College sports could see a dramatic change. Here’s what you need to know
▼ + stars: | 2024-05-23 | by ( Ben Morse | ) edition.cnn.com time to read: +7 min

CNN —College athletes could soon get dramatically different paychecks. The lawsuitThe House v. NCAA lawsuit was filed by Grant House and Sedona Prince, two college athletes, against the NCAA and the Power 5 conferences – the Pac-12, Big Ten, Big 12, Southeastern and Atlantic Coast – in US District Court Northern District of California Oakland Division in 2020. But college athletes in the House lawsuit say current NIL rules and an “anticompetitive” college system hurt their chances to make money. The possible settlement comes against a backdrop of attitudes toward college athletes receiving payments gradually changing. Earlier this year, members of the Dartmouth College men’s basketball team became the first college athletes to vote to join a union, a significant milestone in the rapidly changing business for collegiate sports.

Persons: Grant, Caitlin Clark, Caleb Williams, NILs, Michael Reaves, ”, Chris Jones, ” Jeffrey Kessler, Kessler Organizations: CNN — College, National Collegiate Athletics Association, NCAA, Grant House, Sedona Prince, Big, of California Oakland Division, College, Football, Division, Department of Education, Supreme, Iowa, USC, Westmont, FMC, CNN, National Association of Collegiate, Athletics, Baylor Lady Bears, USA, Sports, Reuters, Yahoo Sports, Athletic, ESPN, ACC, Dartmouth College men’s Locations: Southeastern, Atlantic, California, U.S, United States

☆ OpenAI is really, really trying to show it didn't copy Scarlett Johansson's voice
▼ + stars: | 2024-05-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

OpenAI's "Sky" voice was not created to sound like Scarlett Johansson, The Washington Post reported. The agent for the actor who voiced "Sky" told the outlet Johansson was never mentioned by OpenAI. Johansson said the bot's voice was "eerily similar" to her own, despite declining to be involved. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChatGPT's "Sky" voice was never explicitly intended to sound like Scarlett Johansson, according to documents that OpenAI shared with The Washington Post.

Persons: Scarlett Johansson, Johansson, OpenAI, — Organizations: Washington Post, Service, The Washington Post, OpenAI, Business

☆ Gildan's board abruptly resigns ahead of annual meeting, handing control to activist
▼ + stars: | 2024-05-23 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The activist firm later claimed Gildan's board was showing a "complete disregard for sound corporate governance." The last time an entire board resigned during an activist battle was in 2012, when Canadian Pacific's board yielded to Bill Ackman hours before the railroad's annual meeting. "We are deeply grateful for the outpouring of support that Browning West's slate and plan have received from our fellow shareholders, Gildan employees, and leading proxy advisory firms," Browning West's Usman Nabi and Peter Lee said in a statement. Browning West, based in Los Angeles, accused Gildan's board of leaking an allegedly non-existent sale process to the media and hiring private investigators to look into one of the firm's nominees. Other major shareholders, including Anson Funds and Janus Henderson, backed Browning West's push.

Persons: Gildan Activewear, Browning West's, Glenn Chamandy, Browning, Vince Tyra, Bill Ackman, Browning West's Usman Nabi, Peter Lee, Gildan's, Gildan, Chamandy, Tyra, Michael Kneeland, Janus Henderson, Glass Lewis, Ancora Organizations: Houchens Industries, Amazon, Target, United Rentals, Anson Funds, Norfolk Southern Locations: Montreal, Gildan, Los Angeles

☆ Chelsea players react to Mauricio Pochettino’s surprise sacking as manager
▼ + stars: | 2024-05-22 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

Chelsea’s players have been full of praise for departed manager Mauricio Pochettino, who somewhat surprisingly left his position by mutual consent on Tuesday after only 11 months in the job. Pochettino also took Chelsea to the League Cup final, where it lost to Liverpool, and the semifinals of the FA Cup. The majority of the players Chelsea have purchased in the Boehly era have been young and inexperienced, while key senior players – including César Azpilicueta, N’Golo Kanté, Mateo Kovačić and Mason Mount – left before the season started. Henry Nicholls/AFP/Getty ImagesDespite Chelsea’s rollercoaster season, Pochettino clearly remained well-liked among the squad, with several players expressing their thanks to the Argentine, as well as surprise at his departure. “Gaffer, thank you for everything you have done for me & making my dreams come true,” Palmer wrote on Instagram.

Persons: Mauricio Pochettino, Pochettino, Mauricio, Laurence Stewart, Paul Winstanley, “, ” Chelsea, Todd Boehly, César Azpilicueta, N’Golo Kanté, Mateo Kovačić, Mason Mount –, Chelsea's, Henry Nicholls, Nicolas Jackson, ”, Moises Caicedo, ” Cole Palmer, ” Palmer, Marc Cucurella, emojis, Cole Palmer, Justin Setterfield Organizations: CNN, Chelsea, Europa League football, League, Liverpool, FA, Stamford, Argentine, Premier League’s, Mister, Premier League and Europe Locations: AFP, Ecuadorian, Manchester City

☆ DuPont de Nemours to split into three companies
▼ + stars: | 2024-05-22 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —DuPont de Nemours, the American multinational chemical company that traces its history back to 1802, announced plans to split into three publicly traded companies on Wednesday. DuPont’s breakup comes amid other large, multi-national companies announcing breakups in recent years, with many CEOs and corporate boards touting the agility of smaller companies. In a statement, Breen echoed a similar refrain, saying the three smaller companies would have greater flexibility after the spin-off. This is the second DuPont breakup in half a decade. In 2019, DowDuPont, which was created in a DuPont merger with Dow Chemical, broke apart into three separate entities: DuPont, Dow Chemical and Corteva, the company’s agriculture business.

Persons: Lori Koch, Ed Breen, Koch, Breen, ”, “, Kellogg, DuPont Organizations: CNN, DuPont de Nemours, DuPont, ”, General Electric, Dow Chemical

☆ The chilling parallels a woman sees between the Trump trial and her accusations against Harvey Weinstein
▼ + stars: | 2024-05-22 | by ( Elizabeth Wagmeister | ) edition.cnn.com time to read: +16 min

I reported him and then I just tried to follow the justice and what they told me to do,” Battilana Gutierrez told CNN in a recent interview. Battilana Gutierrez says she sees chilling parallels between the alleged conspiracy surrounding a hush-money payment connected to Trump and what happened to her. “It would be very interesting to see if he had to speak about the Harvey Weinstein trial,” Battilana Gutierrez said of Pecker. Of Battilana Gutierrez, he added, “Harvey wishes her well and hopes only for happiness and success for her.”Eventually, Battilana Gutierrez did sign a non-disclosure agreement with Weinstein’s legal team. Mark Peterson/Redux“Both Harvey Weinstein and Donald Trump were ‘FOPs’ – Friends of Pecker,” Cartwright told CNN.

Persons: Ambra Battilana Gutierrez, Harvey Weinstein, –, ” Battilana Gutierrez, “, ”, Battilana Gutierrez, Weinstein, Donald Trump, David Pecker –, Trump, Jeenah, Michael Cohen, ” Pecker, Arnold Schwarzenegger, Ari Emanuel, Rahm, Barack Obama’s, Schwarzenegger, Ari, Rahm Emanuel, Pecker, ’ Battilana Gutierrez, ’, ” Harvey Weinstein, Natalia V, ” Weinstein’s, Juda Engelmayer, “ Ms, Gutierrez ’, ” Engelmayer, Battilana, Julia Nikhinson, he’s, Harvey Weinstein’s, “ Harvey, Judge James Burke, ” Gutierrez, Ronan Farrow, Cyrus Vance , Jr, Eduardo Munoz, Cyrus Vance, ” Vance, Vance, Attorney Alvin Bragg, Weinstein’s, Lachlan Cartwright, Ambra, ” Cartwright, David J, Mark Peterson, Rose McGowan’s, Cartwright, McGowan, American Media …, Timothy A, Clary, Jason Kravarik Organizations: CNN, Trump, American Media Inc, National, Manhattan Criminal, Staff, Chicago mayorship, National Enquirer, New Yorker, The New York Times, New, Weinstein’s, Manhattan District, Manhattan DA, Manhattan, Attorney’s, Attorney, Attorney’s Office, New York Times Magazine, AMI, Manhattan DA’s, New York Times, Enquirer, Yorker, Weinstein Company, Pecker, Radar, “, American Media, Model Alliance, Getty Locations: Italian, New York City, Manhattan, New York, Los Angeles, Italy, York, New, Angeles, AFP, CNN’s

☆ A Microsoft under attack from government and tech rivals after 'preventable' hack ties executive pay to cyberthreats
▼ + stars: | 2024-05-22 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +13 min

The decision by Microsoft to link executive compensation to successful cybersecurity performance is another is prompting discussions at other firms. One change the tech giant is making in response: linking executive compensation more closely to cybersecurity. In recent years, many Fortune 500 companies, including Apple, have added bonus pay tied to ESG metrics. The conversations about cybersecurity-linked executive pay have started taking place at other companies since Microsoft made its move, according to Aalap Shah, managing director at executive compensation consultant Pearl Meyer. Madnick's research shows that gaps in corporate culture are often culprits in high-profile hacks, not just the Microsoft example.

Persons: Brad Smith, Charlie Bell, Aalap Shah, Pearl Meyer, It's, I've, Shah, —, Stuart Madnick, Madnick, Ryan Kalember, unavoidability, Jen, Kalember, ransomware, Mike Doonan, Doonan Organizations: Microsoft, U.S, Hill, Google, U.S . Department of Homeland, Initiative, Microsoft Security, Team, Companies, Fortune, Apple, MIT, Infrastructure Security Agency, CNBC, Technology, State Department Locations: China, Russia, cybersecurity, U.S

☆ A college basketball player with over 1 million followers shares the email and DM template he's used to get 100 NIL deals
▼ + stars: | 2024-05-22 | by ( Tiara White | ) www.businessinsider.com time to read: +5 min

Read previewCollege basketball player and content creator Connor Printz scored over 100 NIL deals — short for name, image, and likeness — while playing at Claremont McKenna College. From that moment on, Printz was on the hunt for more NIL deals and used several tactics to gain more brand sponsorships. He said he's secured more than 100 NIL deals to date. He said the staff were "shocked" when he disclosed to Claremont McKenna in January 2023 that he'd had over 50 NIL deals. AdvertisementThe email and DM template Printz used to land over 100 NIL dealsPrintz uses a similar outreach template when he contacts brands over email or DM.

Persons: —, Connor Printz, Printz, he's, Claremont McKenna, he'd, didn't, Connor Printz @iamconnorprintz Organizations: Service, Claremont McKenna College, CVS, Reebok, Business, Claremont, Clif Locations: Opendorse, Los Angeles

☆ BMW unveils its latest ‘Art Car,’ courtesy of abstract artist Julie Mehretu
▼ + stars: | 2024-05-22 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

Designed and engineered in collaboration with the Italian race car manufacturer Dallara, it’s low and wide with an enormous rear wing and a large vertical rudder. For the commission, which marks the 20th BMW Art Car, Mehretu chose to adapt one of her most famous works: The painting “Everywhen,” which is now in the collection of the Museum of Modern Art in New York City. The first woman to take on a BMW Art Car was South African artist Esther Mahlangu, who in 1991 painted a 525i sedan. In 1996, Holzer covered a BMW Le Mans race car in the words “Protect Me From What I Want,” among other provocative phrases. Esther Mahlangu's 'Art Car' featured the bold colors and geometric patterns used in the traditional arts and crafts of the Southern Ndebele people.

Persons: Andy Warhol, Jeff Koons, Jenny Holzer, Robert Rauschenberg, Julie Mehretu, Mehretu, ” Mehretu, André, Alexander Calder, Hervé Poulain, Poulain, Calder, Roy Lichtenstein, Warhol, Esther Mahlangu, Holzer, Esther Mahlangu's, Enes, Goldman Sachs, “, Marian Goodman, I've, ” Julian Kroehl, BMW Mehretu, Madeleine Grynsztejn, ”, Julie, ” Grynsztejn Organizations: CNN, BMW, Pompidou Center, Le, Dallara, Museum of Modern Art, BMW “, CSL, BMW Le, Daytona, Fine Arts, Rhode Island School of Design, MacArthur, US Department of State, of, Pritzker, Museum of Contemporary Art Chicago Locations: Ethiopian American, Paris, New York City, American, African, Southern, Manhattan, Addis Ababa, Ethiopia, United States, New York

☆ Stocks making the biggest moves premarket: Macy's, Lowe's, Peloton, Zoom Video and more
▼ + stars: | 2024-05-21 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Macy's — The department store operator added about 3% after beating earnings estimates for the first quarter and raising its full-year outlook. AutoZone reported revenue of $4.24 billion while analysts polled by FactSet forecast $4.29 billion. XPeng — Shares gained 5% after the Chinese electric vehicle firm beat first-quarter estimates on the top and bottom line. The company reported revenue of 25.6 billion yuan, a 38.6% decrease from the fourth quarter of 2023. Zoom Video — Shares slipped nearly 3% even after the video conferencing company reported better-than-expected earnings and revenue for the first quarter.

Persons: Macy's, Lowe's, XPeng, Baird, David Koning, billings, Li Auto, Paul Lejuez, Wall, LSEG, — CNBC's Michelle Fox, Sarah Min, Jesse Pound Organizations: FactSet, Palo Alto Networks, —, Technologies, Lam Research, Citi Locations: Keysight

☆ Stocks making the biggest moves midday: Peloton, Lam Research, Lowe's, AstraZeneca and more
▼ + stars: | 2024-05-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Lowe's — The home improvement stock fell 2.9% despite the company posting a first-quarter earnings and revenue beat. By comparison, analysts surveyed by FactSet had penciled in $1.45 in earnings per share on $1.21 billion in revenue. XPeng — U.S-listed shares jumped nearly 5% after the Chinese EV company topped first-quarter estimates for revenue and said it anticipates a rise in quarterly deliveries. AutoZone reported $4.24 billion in revenue for the quarter, below the $4.29 billion expected by analysts, according to FactSet. Sprout Social — Shares dropped 4% after Sprout Social responded to a Reuters report, citing sources familiar, that said its founders are in talks to take the social media strategy company private.

Persons: Lam, Macy's, Tony Spring, Marvin Ellison, BlackLine, FactSet, Keysight, AutoZone, Li Auto, Li, Yun Li, Jesse Pound, Sarah Min, Alex Harring, Lisa Han, Samantha Subin Organizations: AstraZeneca — U.S, Traffic Safety Administration, Dell Technologies, Citi, Baird, Palo Alto Networks, Keysight, EV, Reuters, Li Auto Locations: billings, —

☆ Tesla Fremont factory suffers another fire, investigation underway
▼ + stars: | 2024-05-21 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

An aerial view of the Tesla Fremont Factory on April 24, 2024 in Fremont, California. A fire broke out at Tesla 's vehicle assembly plant in Fremont, California on Monday afternoon, according to a statement from the Fremont Fire Department, posted on social network X. The Fremont factory is Tesla's first mass EV manufacturing facility. On May 17, 2024 Tesla celebrated a milestone for its Fremont factory in conjunction with their battery factory outside of Reno, Nevada, saying they had surpassed production of 3 million vehicles. Fires at the Fremont factory in the past have sometimes necessitated a pause in production.

Persons: Tesla, Tesla's Fremont Organizations: Tesla Fremont Factory, Fremont Fire Department, Elon, Fremont, Environmental Health, Safety, California Employment, Bay, Air Quality Management, CNBC Locations: Fremont , California, Fremont, Reno , Nevada, California, Tesla's, Alameda County

☆ Tesla shareholders say Elon's influence makes Kimbal Musk and James Murdoch unsuitable for the company's board
▼ + stars: | 2024-05-21 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

A group of Tesla shareholders are urging others to reject Musk's proposed pay package. They also want shareholders to vote against the reelection of board members James Murdoch and Kimbal Musk. The shareholders cited concerns about Murdoch's and Kimbal Musk's personal ties to the Tesla CEO. AdvertisementA group of Tesla shareholders are urging others to vote against the reelection of Kimbal Musk and James Murdoch to the Tesla Board and reject a plan to give Tesla CEO Elon Musk a hefty pay package. Per the shareholders, they believe there is "ample evidence" that Tesla's entire board of directors is "overly beholden to CEO Musk."

Persons: Musk's, James Murdoch, Kimbal, —, Kimbal Musk, Elon Musk, Murdoch, Musk Organizations: Service, Tesla, SEC

Search resuls for: "Directors"

25 mentions found