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A New Jersey school district faces legal action from three separate lawsuits filed this year, following the firing of its openly gay school superintendent. In a lawsuit filed in May, John Berenato, the former superintendent of the Manchester Township School District, accused the district of sexual orientation discrimination that led to his firing in November of last year. According to court documents, Antonucci was with Berenato when he received “disgusting derogatory texts regarding sexual acts” from district board members. Burns, an out lesbian, was the only LGBTQ district administrator as of February, according to court documents. Manchester Township School District serves about 2,900 students from pre-kindergarten through high school in Ocean County.

Persons: John Berenato, Diane Pedroza, Bridget Antonucci, Antonucci, Lori Burns, Burns, Berenato Organizations: Manchester Township School District, of Education, Google, Township School District Locations: Jersey, Manchester, Manchester , N.J, District, ”, Ocean County

☆ Toyota says California-led EV mandates are 'impossible' as states fall short of goal
▼ + stars: | 2024-11-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

A sign is displayed outside a Toyota Motor Corp. dealership on Jan. 30, 2024 in Tokyo, Japan. Tomohiro Ohsumi | Getty Images News | Getty ImagesDETROIT — Toyota Motor sounded the alarm Friday that California-led electric vehicle mandates that are set to start next year are "impossible" to meet and, if they're not changed, will lead to less customer choice in several states. Battery-electric, fuel cell and, to an extent, plug-in hybrid electric vehicles qualify as zero emission under the regulations. At this point, it looks impossible," Jack Hollis, chief operating officer of Toyota Motor North America, said during a virtual media roundtable Friday. Several automotive insiders previously told CNBC that the EV mandate issue needed to be addressed regardless of who won election this year.

Persons: Tomohiro Ohsumi, they're, ZEV, Battery, Jack Hollis, Power, Hollis Organizations: Toyota Motor Corp, Getty, DETROIT, Toyota, California Air, Toyota Motor North, California Air Resources, D.C, CNBC Locations: Tokyo, Japan, California, Toyota Motor North America, Washington, Colorado, New York, New Mexico, Rhode

☆ The NLRB filed a complaint against Apple. The former engineer who cofounded #AppleToo explains why it's important.
▼ + stars: | 2024-11-06 | by ( Helen Li | ) www.businessinsider.com time to read: +9 min

The NLRB filed a complaint against Apple, alleging labor law violations and retaliation. AdvertisementA culture of silenceScarlett's case is among other ongoing unfair labor practice complaints by former Apple employees. The future of labor organizing in Silicon ValleyThe NLRB has received an uptick in unfair labor practice filings from tech workers. "When we talk about labor law, we're really talking about unions and hourly labor, like retail, front line, and service workers," Scarlett said. Movements like #AppleToo reflect a greater push from tech workers, who expect more employer transparency.

Persons: Cher Scarlett, Scarlett, —, I'm, Bernie Sanders, Howard Schultz, Apple, Slack, – they're, Evan Starr, we're, Matthew Bodie, They're Organizations: NLRB, Apple, Service, Labor Relations, National Labor Relations, SEC, University of Maryland, Employees, Microsoft, Google, The New York Times, University of Minnesota Law School, Activision Blizzard, Mozilla Locations: Oakland, California, Silicon Valley, USA

☆ Activist Irenic backs Starboard's push to end News Corp's dual-class structure
▼ + stars: | 2024-11-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Activist Irenic Capital Management said Tuesday that it would back fellow dissident Starboard Value's push to dissolve the dual-class structure at Rupert Murdoch's News Corp , ahead of a closely watched shareholder meeting. Irenic wrote in its Tuesday letter to News Corp's board that while it opposed the dual-class structure, it remained supportive of management's efforts to "unlock immediate value." Irenic also wrote it believes the Murdoch family and other super-voting shareholders should be paid a premium if a conversion to a single-share structure happened. A vote to dissolve the dual-class structure at News Corp nearly a decade ago failed, although it was supported by 90% of non-Murdoch shareholders. The Murdoch family controls roughly 40% of the vote through a family trust and the supervoting Class B shares, making governance changes tough.

Persons: Jeff Smith's, Murdoch, Adam Katz's Irenic, Irenic, Glass Lewis Organizations: Irenic Capital Management, Rupert Murdoch's News Corp, Wall Street, News Corp

☆ Gen Z is just now discovering Trump's 'Grab 'em' comments on TikTok. Don't let that make you feel old.
▼ + stars: | 2024-11-02 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

Gen Z is apparently discovering Donald Trump's lewd "Grab 'em" comments that came to light in 2016. AdvertisementWant to feel old? Some members of Gen Z are apparently only now discovering Donald Trump's infamous "Grab em …" comments that came during a hot mic moment. (Please, let's agree to never tell Gen Z about "left shark".) Don't let this make you feel old; let it make you wiser.

Persons: Donald Trump's, —, Gen, Kate Sullivan, Trump, Billy Bush, Ron DeSantis, Elon Musk, Dana Carvey's Bush, millennials, let's, youngs, Billie Eilish, Z Organizations: Service, Washington Post, Florida Gov Locations: Ohio, Florida, The Washington, .

☆ Nvidia to join Dow Jones Industrial Average, replacing rival chipmaker Intel
▼ + stars: | 2024-11-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Nvidia is replacing rival chipmaker Intel in the Dow Jones Industrial Average, a shakeup to the blue-chip index that reflects the boom in artificial intelligence and a major shift in the semiconductor industry. Intel shares were down 1% in extended trading on Friday. Nvidia shares rose 1%. Nvidia's market cap has swelled to $3.3 trillion, second only to Apple among publicly traded companies. Intel shares have fallen by more than half this year as the company struggles with manufacturing challenges and new competition for its central processors.

Persons: Jensen Huang, Sherwin Williams, Dow Jones, Dow Organizations: Nvidia, EIFO, NVIDIA, Vilhelm, Intel, Dow Jones, Dow Inc, Apple, Companies, Microsoft, Meta, Google, Dow, Amazon, Walgreens Boots Alliance, AMD Locations: Kastrup, Denmark

☆ Intel shares jump 9% on earnings beat, uplifting guidance
▼ + stars: | 2024-10-31 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Intel shares rose 9% in extended trading on Thursday after the chipmaker reported better-than-expected earnings and issued quarterly guidance that topped estimates. Intel called for fiscal third-quarter adjusted earnings of 12 cents per share and revenue between $13.3 billion and $14.3 billion. Analysts had expected 8 cents in adjusted earnings per share and $13.66 billion in revenue. During the quarter, Intel announced the launch of Xeon 6 server processors and Gaudi artificial intelligence accelerators. As of Thursday's close, Intel shares were down about 57% in 2024, while the S&P 500 index had gained 20%.

Persons: Pat Gelsinger, Dave Zinsner, Gaudi, Harvest's Paul Meeks Organizations: Intel, CNBC, Qualcomm, Computing, StreetAccount, Revenue, Data Center Locations: Taipei, Taiwan

☆ Stocks making biggest moves premarket: Carvana, eBay, Microsoft, Uber Technologies and more
▼ + stars: | 2024-10-31 | by ( Sean Conlon | ) www.cnbc.com time to read: +5 min

Carvana – Shares surged more than 19% on the heels of a third-quarter earnings and revenue beat . Microsoft sees revenue coming in between $68.1 billion and $69.1 billion, while analysts were estimating $69.8 billion, according to LSEG. Comcast – Shares climbed nearly 6% after the theme park and media company's third quarter earnings and revenue beat analyst estimates. Cigna – Shares advanced more than 2% after the insurer's third-quarter earnings and revenue beat analysts' expectations. Coinbase – The cryptocurrency exchange platform fell more than 2% after third-quarter earnings and revenue missed Street estimates .

Persons: Carvana, LSEG, Peter Stern, Robinhood, Meta, Cigna, FactSet, Etsy, Coinbase, —, Alex Harring, Samantha Subin, Jesse Pound, Lisa Kailai Han, Sarah Min, Michelle Fox Theobald Organizations: eBay, Ebay, –, Microsoft, Booking Holdings, Uber Technologies, Comcast, LSEG, Super, Facebook, Meta, Wall, CNBC Locations: StreetAccount, LSEG .

☆ 23andMe appoints new board members as it works to stem the company's slide
▼ + stars: | 2024-10-30 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

23andMe said it appointed three new independent directors to its board on Monday. Advertisement23andMe has appointed three new independent directors to its board following the mass resignation of all seven of its previous members last month. The seven previous board members resigned in September in a letter addressed to Wojcicki, citing the company's direction. Wojcicki shared a proposal to take 23andMe private in a July SEC filing, which was reviewed by a special committee formed by the board of directors. The special committee responded less than a week later, writing they were "disappointed" in the proposal.

Persons: 23andMe, —, Andre Fernandez, Mark Jensen, Jim Frankola, Fernandez, Jensen, Frankola, Anne Wojcicki, Kimberly White, Wojcicki Organizations: Service, SEC, Deloitte, 23andMe Board, Company, Business Locations: American

☆ Stocks making the biggest moves midday: Reddit, Super Micro Computer, Garmin, Snap and more
▼ + stars: | 2024-10-30 | by ( Sean Conlon | ) www.cnbc.com time to read: +6 min

Reddit reported earnings of 16 cents per share, while analysts surveyed by LSEG had expected a loss of 7 cents. For the period, Garmin posted pro forma earnings of $1.99 per share on $1.59 billion in revenue. Wingstop – Shares fell around 19% after the restaurant chain missed analysts' expectations for the third quarter. Wingstop earned 88 cents per share, while analysts were looking for 95 cents per share, per LSEG. Advanced Micro Devices – Shares tumbled 9.5% after AMD gave guidance for fourth-quarter revenue of $7.5 billion, in line with analysts expectations, per LSEG.

Persons: Reddit, LSEG, EY, FactSet, Eli Lilly, XPO, Shack, Thomas Reeg, Wingstop, Chipotle, StreetAccount, Raymond James, Goldman Sachs, Alex Harring, Samantha Subin, Lisa Kailai Han, Sarah Min, Jesse Pound, Michelle Fox Organizations: Garmin, Caesars Entertainment, Google, Visa, AMD, Bloomberg, Emirates, Wall, Bank of America

☆ Super Micro shares plunge 35% as auditor resigns after raising concerns months earlier
▼ + stars: | 2024-10-30 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

EY had been hired to audit Super Micro for the first time for the 2024 fiscal year, the company said. Super Micro makes computers that companies use as servers for websites, data storage and other applications, including AI algorithms. Shares of Super Micro, which joined the S&P 500 in March, surged 246% in 2023. EY's concerns were raised prior to a short-seller report that took aim at Super Micro's financial controls and accounting practices. The company hired law firm Cooley and a forensic accounting firm to review Super Micro's internal controls.

Persons: Ernst & Young, Charles Laing, EY, Cooley, Young Organizations: Nvidia, AMD, Intel, Securities and Exchange Commission, Super Micro, Ernst

☆ It will be another year until consumers see effects of rate cuts, says The Conference Board's Odland
▼ + stars: | 2024-10-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt will be another year until consumers see effects of rate cuts, says The Conference Board's OdlandSteve Odland, The Conference Board president and CEO, joins CNBC's 'The Exchange' to discuss the state of the consumer, how inflation and debt are impacting consumer confidence, and more.

Persons: Steve Odland Organizations: Conference

☆ 23andMe appoints three new board members following abrupt resignations
▼ + stars: | 2024-10-29 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

23andMe appointed three new independent directors to its board, the company announced Tuesday, one month after all seven of its previous directors abrubtly resigned. Fernandez, Frankola and Jensen will all serve on the board's audit committee and compensation committee, the company said. The company's stock was trading around $5 on Tuesday morning. To help 23andMe explore potential paths forward, the previous independent directors on the company's board formed a special committee in late March. In the weeks following the board members' departures, Wojcicki has repeatedly said she remains committed to taking the company private.

Persons: Anne Wojcicki, Kelly Sullivan, 23andMe, abrubtly, Andre Fernandez, Jim Frankola, Mark Jensen, Fernandez, Frankola, Jensen, Wojcicki Organizations: Deloitte, 23andMe Board, Company Locations: ATHERTON , CALIFORNIA, Atherton , California

☆ Consumer confidence surges as election nears, while job openings move lower
▼ + stars: | 2024-10-29 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Consumers grew more optimistic about the U.S. economy heading into the contentious presidential election even as job openings hit multi-year lows, according to separate reports released Tuesday. The Conference Board's consumer confidence index for October rose more than 11% to a reading of 138, its biggest one-month acceleration since March 2021. "Views on the current availability of jobs rebounded after several months of weakness, potentially reflecting better labor market data." The drop in openings took the ratio of job vacancies to available workers below 1.1 to 1. Though the openings level moved lower, hires rose 123,000 on the month.

Persons: Dow Jones, Dana Peterson Organizations: Labor Locations: U.S

☆ Pfizer CEO says he welcomes good ideas as Starboard ups pressure on company
▼ + stars: | 2024-10-29 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

In a Tuesday interview with CNBC's Jim Cramer, Pfizer CEO Albert Bourla struck a positive tone about activist investor Starboard Value, saying he agreed with some of its criticisms, but maintained that the company is headed in a good direction. But if Starboard, and anybody else for that matter, have good ideas, I will certainly discuss them and entertain." The pharmaceutical giant is under pressure from Starboard, which reportedly has a $1 billion stake in the company. But he praised Starboard's CEO Jeff Smith, saying he seemed "very smart" and "very pragmatic" at a recent meeting. Bourla also rebuked claims that his company was involved in dissuading past executives — former CEO Ian Read and former CFO Frank D'Amelio — from joining Starboard's efforts.

Persons: CNBC's Jim Cramer, Albert Bourla, Bourla, Jeff Smith, Ian Read, Frank D'Amelio — Organizations: Pfizer

☆ How America's Economy Managed to Avoid Recession, Job Market Disaster
▼ + stars: | 2024-10-27 | by ( Neil Dutta | ) www.businessinsider.com time to read: +9 min

AdvertisementWe're not in a recessionTo determine whether the economy is in recession, it helps to first define the term. Sure, the yearlong payrolls were adjusted down, but the story has largely been the same: This is a cooling but not collapsing labor market. Despite the 50-basis-point interest-rate cut by Chairman Jerome Powell and the rest of the Fed, there's evidence of additional slowing in the labor market. Since the rate cut, I've grown more confident that it will act in the face of weaker employment data. If the labor market deteriorates and the unemployment rate increases, we ought not to rule out another 50-basis-point move.

Persons: We're, —, Jerome Powell, there's, Powell, Stocks Organizations: Federal, National Bureau of Economic Research, Social Security, Conference Locations: America

☆ How activist Starboard may help boost value in Kenvue's skin and beauty business
▼ + stars: | 2024-10-26 | by ( Kenneth Squire | ) www.cnbc.com time to read: +8 min

The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. Self Care product categories include pain care; cough cold allergy; and "other self care." The Skin Health and Beauty segment's product categories include face and body care and hair, sun and others. Skin Health and Beauty has been proven to be a marketing business whose growth can be greatly aided by social media. Kenvue has a solid business with iconic brands and one underperforming segment in Skin Health and Beauty.

Persons: Russell, Johnson, Kenvue, Michael CeraVe, Ken Squire Organizations: Skin, Health, Self, pharma, Colgate, Palmolive, Haleon, Kenvue, Essential Health, L'Oreal, Beauty, Skin Health, Management, 13D Locations: North America, Asia, Europe, Middle East, Africa, America, CY19, CeraVe

☆ OpenAI Taps VP Lilian Weng to Lead Risk Management for AI Models
▼ + stars: | 2024-10-24 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: 1 min

Weng joined OpenAI in 2018 after working as a data scientist and software engineer at major Silicon Valley companies, including Meta (then Facebook), Dropbox, and Affirm. Weng, part of Business Insider's 2024 AI Power List, took over the preparedness team after its former leader Aleksander Madry was reassigned in July. It's part of a broader effort within the company to consolidate safety research under Weng, who also serves on the board's safety and security committee. As policymakers and consumers focus more attention on the security implications of high-powered AI models, Weng's role within the company is likely to become even more important. See Business Insider's full AI Power List

Persons: Weng, OpenAI, Aleksander Madry Organizations: Meta, Facebook

☆ OpenAI disbands another safety team, head advisor for 'AGI Readiness' resigns
▼ + stars: | 2024-10-24 | by ( Hayden Field | ) www.cnbc.com time to read: +9 min

OpenAI is disbanding its "AGI Readiness" team, which advised the company on OpenAI's own capacity to handle increasingly powerful AI and the world's readiness to manage that technology, according to the head of the team. On Wednesday, Miles Brundage, senior advisor for AGI Readiness, announced his departure from the company via a Substack post. Former AGI Readiness team members will be reassigned to other teams, according to the post. Madry will still work on core AI safety work in his new role, OpenAI told CNBC at the time. Leike added that OpenAI must become a "safety-first AGI company."

Persons: OpenAI, Miles Brundage, Brundage, Miles, Mira Murati, Bob McGrew, Barret Zoph —, Aleksander Madry, Madry, reassign Madry, Sam Altman, it's, Altman, Lina Khan, they've, OpenAI's, Ilya Sutskever, Jan Leike, Leike, Greg Brockman, Brockman Organizations: AGI Readiness, CNBC, Security Committee, Google, Microsoft, Meta, Princeton University, Democratic, Federal Trade Commission, Department of Justice, Nvidia Locations: OpenAI

☆ Microsoft CEO Nadella asked for pay reduction after security slip, but total comp still rose 63%
▼ + stars: | 2024-10-24 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella speaks at an event on the company's Redmond, Washington, campus on May 20, 2024. Microsoft gave CEO Satya Nadella a pay raise for the 2024 fiscal year of more than $30 million. The board's compensation committee said Nadella asked that the cash incentive portion reflect the security issues. It was originally supposed to be $10.66 million, but the full board approved a $5.2 million cash incentive instead. Microsoft's security business generated over $20 billion in revenue in 2022, more than total revenue for many security companies.

Persons: Satya Nadella, Nadella Organizations: Apple Inc, Microsoft, U.S . Department of Homeland Security Locations: Redmond, Washington

☆ A college student who tracks Elon Musk and Mark Zuckerberg's private jets says his Threads accounts have been suspended
▼ + stars: | 2024-10-22 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Jack Sweeney's Threads accounts that track the flight paths of private jets have been suspended. AdvertisementJack Sweeney, a college student who tracks the private jets of several high-profile people, including Elon Musk and Mark Zuckerberg, says his Threads accounts have been suspended. He said he received no warnings or communications from the Big Tech company before the accounts were suspended. AdvertisementThe college student first made headlines in 2022 after Musk offered him money to stop publicly sharing his flight information. In December 2022, Sweeney's jet-tracking accounts were suspended by X. Musk, who took over the social media company months earlier, called the accounts a "physical safety violation."

Persons: Jack, Elon Musk, Taylor Swift, —, Jack Sweeney, Mark Zuckerberg, Sweeney, Kim Kardashian, Donald Trump, Zuckerberg, Swift, Musk Organizations: Meta, Service, Elon, Big Tech, Meta's, Business, US Federal Aviation Administration, Twitter, University of Central, X Locations: University of Central Florida, Orlando

Kenvue CEO Thibaut Mongon at the New York Stock Exchange for its initial public offering, May 4, 2023. Activist investor Starboard Value has a large stake in Kenvue , which spun out of Johnson & Johnson in mid-2023, according to people familiar with the matter. Starboard's push at Kenvue comes just two weeks after news broke it had amassed a roughly $1 billion stake in struggling pharmaceutical company Pfizer. Johnson & Johnson completed its separation from Kenvue in August last year, though the pharmaceutical giant still holds a stake in the new company. Kenvue started trading on the New York Stock Exchange in May 2023, ending its first day of trading with a share price of about $27.

Persons: Thibaut Mongon, Johnson, Starboard's Jeff Smith, J's, Haleon, Kenvue Organizations: New York Stock Exchange, CNBC, Wall Street, Pfizer, Johnson, J, Procter Locations: Kenvue

☆ 4 ways Brian Niccol can use his Chipotle playbook to reinvigorate Starbucks
▼ + stars: | 2024-10-19 | by ( Paulina Likos | ) www.cnbc.com time to read: +15 min

At Starbucks, Niccol inherits a company that under previous leadership consistently disappointed investors with weakening sales, including back-to-back periods of negative same-store sales growth this year. Operations Upon taking over Chipotle, Niccol's focus was on improving operations after the rise of digital orders complicated execution and increased wait times. The addition of shelves alone accelerated the use of Chipotle's second "make line," where digital orders are prepared in the back of the store. To rebuild consumer trust at Chipotle, Chipotle launched the "Behind the Foil" campaign to showcase transparency in food preparation. His marketing approach "brought new news in a positive way toward Chipotle," Silberman said.

Persons: Brian Niccol's, Brian Niccol, Jim Cramer, Laxman Narasimhan, Niccol, Chipotle, Howard Schultz, Narasimhan, Schultz, Jefferies, Andy Barish, Barish, Lauren Silberman, Silberman, Rachel Ruggeri, there's, It's, Carne Asada, Queso Blanco, Chipotle's, Deutsche Bank's Silberman, hasn't, Tressie Lieberman, Lieberman, Jim Cramer's, Jim, Adam Jeffery Organizations: Starbucks, CNBC, Street, North America, Deutsche Bank ., Deutsche, Taco, Yum Brands, Yahoo, LinkedIn, Starbucks Workers Locations: Chipotle, Niccol, China, U.S, Denver, Michigan, Maine

J-Hope, K-pop star and member of the supergroup BTS, was discharged from South Korea's military on Thursday after completing the country's mandatory military service requirement. Jin, the oldest member of BTS, finished his military service in June, and presented J-Hope with a bouquet of flowers. South Korea mandates all able-bodied men aged 18 to 28 serve 18 to 21 months in the military or equivalent civilian service. Exceptionally talented athletes and artists can sometimes be exempted from military service. A third BTS member, Suga, began his military service in September 2023.

Persons: Hope, Jin, Suga, They've Organizations: BTS, J, Billboard, BigHit Music Locations: South, Wonju, Gangwon, South Korea, North Korea, United States

☆ Stocks are nearing a major peak and a more 'disturbed' period of weak returns is ahead for investors, CIO says
▼ + stars: | 2024-10-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Grant said stocks could soon enter a period of weak returns, possibly for "many years." AdvertisementThe bull market in stocks looks like it's close to the top, according to an investment chief. AdvertisementSentiment and position indicators are also flashing signs investors are overexcited about the stock market, Grant said. The 3-month moving average of year-ahead stock market expectations has climbed to its highest on record, according to Conference Board data. That suggests there's little "cushion" in the event the stock market declines or experiences a shock, Grant said.

Persons: Michael Grant, Grant, —, subpar, Morgan Organizations: Calamos Investments, Service, Conference, Board, Federal, Federal Reserve, Governors, Morgan Research, Bloomberg, Investors

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