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☆ CNBC Daily Open: Wall Street surges; Starbucks ousts CEO
▼ + stars: | 2024-08-14 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Economic uncertainty Home Depot exceeded quarterly expectations but lowered its full-year sales outlook , citing weak demand due to high interest rates and consumer uncertainty. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. The baristas have to be energised, clearly they've had some union problems, clearly they've had a lot of new products that haven't worked," Palmer told CNBC "Squawk on the Street." Chief Financial Officer Richard McPhail told CNBC, "Customers aren't just deferring because of higher financing costs.

Persons: Richard McPhail, Laxman Narasimhan, Brian Niccol, Narasimhan, Mellody Hobson, Narasimhan —, Niccol, David Palmer, they've, haven't, Palmer, Sarat Sethi, CNBC's, Sethi, —, Sarah Min, Amelia Lucas, Brian Evans, Samantha Subin, Jennifer Elias, Jeff Cox, Spencer Kimball Organizations: New York Stock Exchange, CNBC, Jefferies, Google, Apple, Gemini, Evercore ISI, Depot, Douglas, Lane & Associates, McDonald's, Starbucks, Walmart Locations: New York City, China

☆ CNBC Daily Open: Wall Street soars; Starbucks ousts CEO
▼ + stars: | 2024-08-14 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street soarsWall Street rose after producer prices came in softer than expected, raising hopes of a rate cut. Starbucks ousts CEOStarbucks surprised investors by replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol, driving Starbucks' stock up more than 24% while Chipotle fell as much as 10%. Under Narasimhan's tenure, Starbucks' performance has struggled, marked by weak sales in the U.S. and China, its two largest markets. The latest inflation data strengthens the market's expectations of an interest rate cut at the Fed's September meeting.

Persons: Laxman Narasimhan, Brian Niccol, Chipotle, Niccol, Richard McPhail Organizations: New York Stock Exchange, CNBC, Dow Jones Industrial, Nasdaq, Nvidia, Microsoft, Apple, Treasury, Starbucks, Google, Gemini, Federal Reserve, PPI Locations: New York City, U.S, China

☆ Video: China ousts two defense ministers as Xi seeks loyalty
▼ + stars: | 2024-07-05 | by ( Will Ripley | ) edition.cnn.com time to read: 1 min

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☆ Embattled Georgia DA Fani Willis and Trump trial judge hit the campaign trail
▼ + stars: | 2024-05-15 | by ( Sara Murray | Jason Morris | ) edition.cnn.com time to read: +8 min

Wise Smith, meantime, has faced some skepticism from voters worried that if he ousts Willis it could endanger the Trump case. The disqualification drama surrounding Willis hasn’t spared Wise Smith from skepticism from some Democrats who believe Willis will most aggressively prosecute the Trump case. “Some folks were worried that me jumping in the race, you know, might mean we lose that case,” Wise Smith said in an interview with CNN. Let me say this, I think the case is in grave jeopardy right now,” Wise Smith said of the Trump case. In a rarity for a sitting judge, McAfee has also been granting interviews to local media.

Persons: Donald Trump, Fani Willis, Scott McAfee, ” Willis, “, Trump, Willis, Christian Wise Smith, Willis ’, Wise Smith, McAfee, Robert Patillo, he’s, Courtney Kramer, ”, Michael J, Moore, she’s, Willis hasn’t, ” Wise Smith, Wise Smith –, –, ” McAfee, wouldn’t, “ I’ve, Patillo’s, ” Patillo, “ It’s, Patillo, Brian Kemp, Roy Barnes, Kemp, Barnes, Ray Smith III, Smith, ” Moore, that’s Organizations: CNN, Democratic Party, Democratic, Trump, Trump White House, Middle, Middle District of, WSB, Georgia Gov, Republican, Democrat, McAfee, Boy Scouts Locations: Georgia, Fulton County, Middle District, Middle District of Georgia, Inman

☆ Paramount Global ousts chief Bob Bakish as future of media conglomerate hangs in the balance
▼ + stars: | 2024-04-29 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

New York CNN —Paramount Global on Monday parted ways with its chief executive, Bob Bakish, in a seismic move that sent reverberations through the media conglomerate as it actively engages in acquisition talks with Skydance Media. In place of Bakish, who led the company since controlling shareholder Shari Redstone reunited Viacom and CBS Corporation under one roof in 2019, will be a triumvirate of leaders: Brian Robbins, chief executive of Paramount Pictures; Chris McCarthy, chief executive of Showtime and MTV Entertainment Studios; and George Cheeks, chief executive of CBS. In an attempt to stave off declining cable revenues, Paramount has spent billions of dollars building its own streaming service, Paramount+. Supporters of the Skydance deal hope that merging Paramount with the Ellison-led company will change its fortunes. Those shareholders have argued the deal primarily benefits Redstone and they have encouraged Paramount’s board to evaluate other options.

Persons: Bob Bakish, Bakish, Shari Redstone, Brian Robbins, Chris McCarthy, George Cheeks, Bob, ” Redstone, David Ellison, Larry Ellison, Ellison, Skydance, Jeff Shell Organizations: New, New York CNN, Paramount Global, Skydance Media, Viacom, CBS Corporation, Paramount Pictures, Showtime, MTV Entertainment Studios, CBS, Paramount, Skydance, CNN, BET, Nickelodeon, MTV, Comedy, Netflix Locations: New York, Redstone, Skydance

☆ NBC News ousts Ronna McDaniel after network’s anchors launch unprecedented on-air rebellion
▼ + stars: | 2024-03-26 | by ( Oliver Darcy | Jon Passantino | ) edition.cnn.com time to read: +6 min

Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said. McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election. NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists. Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring. MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.

Persons: Ronna McDaniel, Cesar Conde, ”, ” Conde, McDaniel, Donald Trump, Joe Biden, Biden, Kristen Welker, Welker, Chuck Todd, “, ” Todd, Mika Brzezinski, Joe Scarborough, Joe, ” Brzezinski, Joe ’, ” Nicolle Wallace, peddle, ” Wallace, Rachel Maddow, —, ” Maddow, hasn’t, Rebecca Blumenstein, Carrie Budoff Brown, Rashida Jones, Joy Reid, Maddow Organizations: New, New York CNN, NBC, Republican National Committee, News, ” NBCUniversal, CNN, Creative Artists Agency, MSNBC, Peacock Network, RNC, ”, NBC News, Todd, Republicans, NBCUniversal News Locations: New York, Michigan, Detroit

☆ China ousts top rocket scientist from key political body in widening military purge
▼ + stars: | 2024-01-31 | by ( Nectar Gan | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China has expelled a leading rocket scientist from its top political advisory body, the latest sign of a widening purge in the Chinese military’s missile force and aerospace contractors. Wang, 54, until recently led the China Academy of Launch Vehicle Technology (CALT), a prestigious state-run institute known as the birthplace of China’s aerospace industry. Wang spent his nearly three-decades-long career designing rockets at the CALT, a subsidiary of the main contractor of the Chinese space program, the state-owned China Aerospace Science and Technology Corporation. In December, three aerospace executives, including the chairman of China Aerospace Science and Technology Corporation – were stripped of their roles in the CPPCC. In July, the Rocket Force abruptly replaced its two leaders, the commander and the political commissar, with no explanation.

Persons: Wang Xiaojun, Wang, Xi Jinping, Xi, ” Wang, Qian Xuesen Organizations: Hong Kong CNN, Political Consultative, Xinhua, China Academy of Launch Vehicle Technology, China Aerospace Science, Technology Corporation, People’s Liberation Army, Rocket Force, Communist Locations: Hong Kong, China, Beijing, “, Hunan

Nov 17 (Reuters) - The board of the company behind ChatGPT late on Friday fired OpenAI CEO Sam Altman - to many, the human face of generative AI - sending shock waves across the tech industry. Backed by billions of dollars from Microsoft (MSFT.O), OpenAI kicked off the generative AI craze last November by releasing its ChatGPT chatbot, which became one of the world's fastest-growing software applications. He was the face of OpenAI and the wildly popular generative AI technology as he toured the world this year. Altman posted on X shortly after OpenAI published its blog: "i loved my time at openai. "That said, we believe Microsoft and Nadella will exert more control at OpenAI going forward with Altman gone."

Persons: Sam Altman, Mira Murati, OpenAI, Altman, what’s, Murati, Tesla, Satya Nadella, Mira, Nadella, Eric Schmidt, Daniel Ives, Thomas Hayes, Davidson, Gil Luria, Samrhitha, Jeffrey Dastin, Anna Tong, Krystal Hu, Shounak Dasgupta, Kenneth Li, Richard Chang Organizations: Microsoft, Union, U.S, Reuters, OpenAI, Wedbush Securities, Economic Cooperation, Thomson Locations: openai, Asia, San Francisco, Oakland , California, Bengaluru, New York

The three state court judges sided with Nashville officials who sued, ruling that the law targeted Nashville alone and didn't include the local involvement required under the Tennessee Constitution's home rule protections. The ruling ousts the new Metropolitan Nashville Airport Authority board, which awarded six of eight appointments to state officials and two to the mayor. The decision marks another win in court for Nashville officials over the slate of state restrictions passed this year to limit their authority. The new airport law, which brought on changes to the board on July 1, quickly created confusion. Meanwhile, the board with the state appointees was quickly installed, with the airport board arguing that it couldn’t defy a state law without a court order.

Persons: “, Democratic Sen, Jeff Yarbro, Cameron Sexton, ”, Wally Dietz Organizations: Nashville International, Republicans, Democratic, Nashville, Tennessee, Metropolitan Nashville Airport Authority, Republican, NASCAR, Federal Aviation Administration, International Airport, FedEx —, Convention Locations: Tenn, Tennessee, Nashville

☆ China reportedly ousts defense minister after two-month absence
▼ + stars: | 2023-10-24 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

The Chinese government removed Gen. Li Shangfu from the post of defense minister and state councilor without appointing a replacement, state media CCTV reported Tuesday. Li, who was appointed to lead China's Defense Ministry during a broader Cabinet reshuffle in March, has not been seen in public for the past two months, according to Reuters. Reuters also reported that Li, 65, faced a corruption probe over the procurement of military equipment — which CNBC could not independently confirm. Li is the second high-profile minister from Xi's administration to be removed amid a storm of speculation. In July, Qin Gang — who was also stripped of his authority as state councilor on Tuesday — was dismissed from his role as foreign minister after a one-month absence.

Persons: Li Shangfu, Li, Xi Jinping, Qin Gang —, — Organizations: National People's, China's Defense Ministry, Reuters, CNBC, Renown, Chinese Communist Party, Central Military Commission, —, Qin

☆ China ousts defence minister, the second senior leader to leave in three months
▼ + stars: | 2023-10-24 | by ( Yew Lun Tian | ) www.reuters.com time to read: +2 min

BEIJING, Oct 24 (Reuters) - China removed its defence minister on Tuesday, the second ousting of a senior leader in three months, raising questions about the stability of the leadership team around Chinese President Xi Jinping. General Li Shangfu, who has been absent from public view for two months, was dismissed as defence minister and state councillor, according to state media. No replacement for Li was named, leaving the country without a defence minister as it prepares to host foreign defence officials at the Beijing Xiangshan Forum on Oct. 29-31. Li, 65, disappeared from public view two months ago. No other defence minister in China had served for a shorter time than Li.

Persons: Xi Jinping, General Li Shangfu, Gang, Li, Xi, Qin, Wang Yi, Yew Lun, Don Durfee, Mark Potter, Nick Macfie Organizations: National People's, CCTV, Beijing Xiangshan, Reuters, Wall, Thomson Locations: BEIJING, China, Beijing, Russia, United States

☆ The House just took one step closer to firing Kevin McCarthy
▼ + stars: | 2023-10-03 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Republicans just tried to kill Matt Gaetz's motion to vacate, which would kick McCarthy out of his job. AdvertisementAdvertisementThe House just moved one giant step closer to firing the GOP's Kevin McCarthy as speaker of the House. Every House Democrat, along with 11 House Republicans, voted against the effort, ensuring a vote on McCarthy's future will take place shortly. The procedural move tees up a historic showdown: the first House vote to remove a speaker since 1910. Should it succeed, it will be the first time in American history that the House ousts its own speaker.

Persons: Matt Gaetz's, McCarthy, —, Kevin McCarthy, Matt Gaetz, Andy Biggs, Ken Buck, Tim Burchett, Eli Crane, Warren Davidson, Bob Good, Nancy Mace, Cory Mills, Matt Rosendale, Victoria Spartz, Hakeem Jeffries, Jeffries, Joe Biden, Donald Trump Organizations: Democrats, Republicans, Service, Republican, Democrat, Arizona Rep, Colorado Rep, Tennessee Rep, Ohio Rep, Florida Rep, Rep, South Carolina Rep, Montana Rep, Victoria Locations: Florida, Montana, Indiana, Ukraine

☆ US House ousts Kevin McCarthy as leader
▼ + stars: | 2023-10-03 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsUS House ousts Kevin McCarthy as leaderPostedThe U.S. House of Representatives voted on Tuesday (October 3) to oust Speaker Kevin McCarthy from his job, as infighting among his fellow Republicans plunged Congress into further chaos just days after it narrowly averted a government shutdown.

Persons: ousts Kevin McCarthy, Kevin McCarthy Organizations: . House

☆ U.S. House ousts Kevin McCarthy as leader
▼ + stars: | 2023-10-03 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsU.S. House ousts Kevin McCarthy as leaderPostedA handful of Republicans in the U.S. House of Representatives on Tuesday ousted Republican Speaker Kevin McCarthy, as party infighting plunged Congress into further chaos just days after it narrowly averted a government shutdown. This report produced by Jillian Kitchener.

Persons: ousts Kevin McCarthy, Kevin McCarthy, Jillian Kitchener Organizations: ., U.S . House Locations: U.S

☆ Planet Fitness Shares Tumble After Board Ousts Longtime CEO
▼ + stars: | 2023-09-15 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/c-suite/planet-fitness-shares-tumble-after-board-ousts-longtime-ceo-bf3b6318

Persons: Dow Jones, bf3b6318

Planet Fitness said it is searching for its next chief both internally and externally. He's a franchisee of both Planet Fitness and Dunkin' Donuts and has been on Planet's board for six years. During his time as CEO, Rondeau led Planet Fitness's IPO and tripled its club base from about 700 to about 2,400 locations. "As we enter the next chapter of Planet Fitness' journey, the Board felt that now was the right time to transition leadership," Planet Fitness Chairman Stephen Spinelli Jr. said in a press release. "In today's evolving environment, Planet Fitness is continuing to enhance our competitive advantage, capitalize on our size and scale, and drive further shareholder value."

Persons: Chris Rondeau, Craig Benson, He's, Rondeau, William Blair, Sharon Zackfia, Zackfia, Rondeau couldn't, Michael, Marc Grondahl, it's, " Rondeau, Stephen Spinelli Jr Organizations: Planet Fitness, Planet Locations: New Hampshire, Dover , New Hampshire

NEW YORK (AP) — Daniil Medvedev predicted he would need to play “11 out of 10” to get past defending champion and top-seeded Carlos Alcaraz at the U.S. Open. 3-seeded Medvedev won his lone major championship at Flushing Meadows in 2021 by defeating 23-time Slam winner Djokovic in that year's title match. Even before the start of these two weeks, folks had been anticipating a Djokovic vs. Alcaraz showdown on the last day of the event. Theirs is an inter-generational rivalry — Djokovic is 36; Alcaraz 20 — that has fascinated the tennis world in recent months. He lost to Rafael Nadal in New York in 2019, and to Djokovic at the Australian Open in 2021 and 2022.

Persons: — Daniil Medvedev, Carlos Alcaraz, Medvedev, “, ” Medvedev, Novak Djokovic, Ben Shelton, Djokovic, ” Alcaraz, Alcaraz —, —, Roger Federer, Alcaraz, Rafael Nadal, ”, Arthur Ashe, Juan Carlos Ferrero, Ferrero, volleying —, lanky Medvedev, “ That's Organizations: U.S ., Alcaraz, Flushing, Cincinnati, Djokovic, Wimbledon, U.S Locations: Flushing Meadows, New York, Russia

☆ Gabon awaits next move from junta after coup ousts President Bongo
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

Gaetan M-Antchouwet Acquire Licensing Rights Read moreDAKAR, Aug 31 (Reuters) - Gabon on Thursday awaited the next move by its new military junta one day after it overthrew the government, named a new leader and detained long-standing President Ali Bongo in his residence. The coup is the eighth in West and Central Africa since 2020, and the second - after Niger - in as many months. Gabon, an OPEC member, is a major oil and manganese producer whose ousted president also made strides to protect vast Gabon's pristine forests and endangered elephants. But Bongo's popularity had worn thin amid claims of corruption, sham elections, and a failure to spend more of Gabon's oil revenues on the country's poor. Bongo took over in 2009 on the death of his father Omar, who had ruled since 1967.

Persons: Ali Bongo, Gaetan M, Bongo, Omar, Edward McAllister, Anait Miridzhanian, Simon Cameron, Moore Organizations: Military, United Nations, African, African Union and France, Thomson Locations: Port Gentil, Gabon, DAKAR, West, Central Africa, Niger, Mali, Guinea, Burkina Faso, Chad, Libreville, African Union

☆ Sweden Ousts Japan, Ensuring World Cup Will Have First-Time Champion
▼ + stars: | 2023-08-11 | by ( Jeré Longman | More About Jeré Longman | ) www.nytimes.com time to read: 1 min

A Women’s World Cup of change, of unexpected early departures and tantalizing arrivals, has completed its upending of certainty and tradition. No former champion remains in the tournament with two rounds to play. And now Japan, the 2011 winner, has exited in the quarterfinals with a 2-1 defeat to Sweden on Friday in Auckland, New Zealand. It has participated in all nine Women’s World Cups, finishing second in 2003 and third three times. But it has never won a major tournament and longs to be a first-time champion.

Locations: United States, Germany, Norway, Japan, Sweden, Auckland , New Zealand

Republican presidential candidate, Florida Governor Ron DeSantis, delivers remarks at the annual Christians United for Israel Summit (CUFI), at the Crystal Gateway Marriott in Arlington, Virginia, U.S., July 17, 2023. "Governor DeSantis has to change the dynamics," Eberhart said. DeSantis faces a crucial moment on Aug. 23 in Milwaukee at the first Republican debate of the 2024 campaign. "This is par for the course for DeSantis' campaigns," Ayres said. Republican Senator John McCain, for instance, fired almost all of his senior campaign staff in June 2007 before staging a comeback and ultimately clinching the 2008 Republican nomination.

Persons: Ron DeSantis, Kevin Wurm, Donald Trump, Generra Peck, James Uthmeier, Andrew Romeo, Dan Eberhart, Peck, Uthmeier, DeSantis, Eberhart, Joe Biden, Trump's, Wilbur Ross, Romeo, Robert Bigelow, Bigelow, Trump, David Polyansky, Whit Ayres, Ayres, John McCain, Gram Slattery, Alexandra Ulmer, Tim Reid, Ross Colvin, Will Dunham Organizations: Florida, United, Israel Summit, Crystal Gateway Marriott, REUTERS, Republican U.S, Republican, Democratic, Reuters, Trump, Thomson Locations: Arlington , Virginia, U.S, Florida, Milwaukee, Washington, San Francisco, Los Angeles

Republican presidential candidate, Florida Governor Ron DeSantis, delivers remarks at the annual Christians United for Israel Summit (CUFI), at the Crystal Gateway Marriott in Arlington, Virginia, U.S., July 17, 2023. "Governor DeSantis has to change the dynamics," Eberhart said. DeSantis faces a crucial moment on Aug. 23 in Milwaukee at the first Republican debate of the 2024 campaign. It is unclear what direction Uthmeier will take the DeSantis campaign as its new manager. "This is par for the course for DeSantis' campaigns," Ayres said.

Persons: Ron DeSantis, Kevin Wurm, Donald Trump, Generra Peck, James Uthmeier, Andrew Romeo, Robert Bigelow, Bigelow, Peck, Joe Biden, Trump, DeSantis, Romeo, David Polyansky, Dan Eberhart, Uthmeier, Eberhart, Wilbur Ross, Whit Ayres, Ayres, Gram Slattery, Alexandra Ulmer, Tim Reid, Scott Malone, Will Dunham Organizations: Florida, United, Israel Summit, Crystal Gateway Marriott, REUTERS, Republican U.S, Reuters, Republican, Democratic, Trump, Thomson Locations: Arlington , Virginia, U.S, Florida, Milwaukee, Washington, San Francisco, Los Angeles

☆ There likely won't be any winners in Russia's coup — but it will give Ukraine an opportunity to step up its attacks while Putin watches his back
▼ + stars: | 2023-06-24 | by ( Katherine Tangalakis-Lippert | Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

On Friday, Yevgeny Prigozhin sought to overtake the Russian military after months of infighting. Military strategist Mick Ryan told Insider it will sow chaos in Russia, no matter the outcome. The infighting between the mercenary leader and the Russian military leadership comes after months of Prigozhin feuding with Russian President Vladimir Putin over the treatment of Prigozhin's for-hire army. "Prigozhin is likely to be the biggest loser," Ryan told Insider. This is probably the end of the tolerance for his outbursts and demands of the military," Ryan told Insider: "I think it's most likely that things won't turn out well for him.

Persons: Yevgeny Prigozhin, Mick Ryan, —, Wagner, ousts, Yevgeny Prigozhin's, Prigozhin, Vladimir Putin, Ryan, Putin, that's, Russia we'll Organizations: Service, Center for Strategic, International Studies, Russian Locations: Russia, Ukraine, Rostov, Russian

☆ Opinion | Tucker Carlson’s Firing by Fox News
▼ + stars: | 2023-04-25 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “Fox News Ousts Carlson, a Voice of the Far Right” (front page, April 25):Tucker Carlson’s firing by Fox News is being covered as big news (everywhere except, of course, at Fox News). The coverage includes speculation about whether the firing heralds a change of direction for Fox News away from peddling sensationalist conspiracy theories to its primary audience. Fox News’s business model involves presenting sensationalist, conspiracy-laden fodder to appeal to America’s angry, frightened right wing. This has been so whether the characters have been named Glenn Beck, Sean Hannity, Bill O’Reilly or Tucker Carlson. The actor Tucker Carlson has been fired by Fox News, but nobody should assume that Fox News has abandoned the character that he played on TV.

Photo: Richard Drew/Associated PressFox News parted ways with prime-time host Tucker Carlson , a surprising move that comes after he made disparaging remarks about colleagues at the network that were disclosed during a legal battle with a voting-machine company. Mr. Carlson’s departure puts an end to a decade-plus tenure at the conservative news network during which he rose to become the highest-rated host in prime-time cable news.

☆ Trump-backed blank-check firm Digital World ousts CEO
▼ + stars: | 2023-03-22 | by ( Helen Coster | ) www.reuters.com time to read: +2 min

March 22 (Reuters) - Digital World Acquisition Corp (DWAC.O), a blank-check firm that is set to merge with former U.S. President Donald Trump's media and technology company, said on Wednesday it had ousted Chief Executive Patrick Orlando. In October 2021, Trump’s newly formed media company, Trump Media & Technology Group (TMTG), announced a deal to go public by merging with DWAC. TMTG’s fortunes are inextricably tied to Trump, who is billed by the company as the chief traffic driver. He posted to Alphabet Inc's (GOOGL.O) YouTube and Meta Platforms Inc's (META.O) Facebook on March 17, the same day YouTube restored his channel. Trump’s Twitter account was reinstated in November by the platform's new owner Elon Musk, but Trump has yet to post there.

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