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☆ Carlos Tavares out as Stellantis CEO a year ahead of planned exit
▼ + stars: | 2024-12-01 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

AdvertisementStellantis CEO Carlos Tavares has left the company, effective immediately, the automaker announced Sunday. His departure is more than a year ahead of his planned exit and comes amid a stock slump. Stellantis CEO Carlos Tavares has left the company, effective immediately, the automaker announced on Sunday. Advertisement"Stellantis' success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO," Stellantis' Senior Independent Director, Henri de Castries, said in the statement. "However, in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today's decision."

Persons: Carlos Tavares, Tavares, Stellantis, Henri de Castries, " Tavares, he'd, Carlos Organizations: PSA Group, Fiat Chrysler Automobiles, Jeep, Chrysler, Maserati, Business, Financial Times, FT Locations: French

☆ TikTok is facing accusations of election interference after a surprise win by a far-right candidate in Romania
▼ + stars: | 2024-12-01 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Romania's defense council says TikTok's algorithm fueled the rise of a far-right candidate. TikTok is facing accustions from regulators in Romania that content on the platform improperly influenced the country's presidential election. AdvertisementIn its statement, the Romanian defense council said there is growing interest inside Russia to "influence the public agenda in Romanian society" and disrupt social cohesion. The defense council said that not labeling the content as campaign-related drastically increased its visibility on TikTok. TikTok has also faced scrutiny in the United States for allowing political ads that included disinformation in the lead-up to the 2024 presidential election.

Persons: TikTok, Călin Georgescu, Vladimir Putin, Marcel Ciolacu, Georgescu, —, Donald Trump, Paolo Ganino Organizations: Romania's, of National Defense, Romanian Constitutional Court, Associated Press, NATO, AP, Supreme, TikTok, Facebook, Business, Politico Locations: Romania, NATO, Ukraine, Russia, Romanian, United States

☆ ‘Moana 2,’ ‘Wicked’ and ‘Gladiator II’ hit box office trifecta for Thanksgiving weekend
▼ + stars: | 2024-12-01 | by ( Auzinea Bacon | ) edition.cnn.com time to read: +4 min

CNN —Instead of lounging on the couch after Thanksgiving, Americans headed to movie theaters, as the premiere of Disney’s “Moana 2” and the draw of “Wicked” and “Gladiator II” provided a big boost to the domestic box office. The success of the three films brought a new perspective on where the box office year can wind up, he said, since no one expected this to be a $420 million Thanksgiving weekend. Reviving the moviegoing experienceLoria said Universal, Paramount and Disney focused on theatrical-driven marketing campaigns, which movie theater companies could lean into. It meant movie theaters stepped up to cater to three very different audiences: those looking for epic historical action, musical fantasy and animated adventure. Dergarabedian said the theater screen goes hand-in-hand with streaming services at home and can build up the success of a movie long-term.

Persons: ”, Moana, “, Mario, ” Alan Bergman, Paul Dergarabedian, Barbie ”, “ Oppenheimer, Lionsgate’s “, Daniel Loria, Sony’s “ Kraven, Hunter ”, King ”, Michael O’Leary, Loria, Dergarabedian Organizations: CNN, Mario Bros, Disney Entertainment, Universal, Paramount Pictures, Amazon MGM Studios, Warner Brothers Discovery, Warner Bros, Boxoffice, National Association of Theatre Owners, Paramount, Disney

☆ Top Wall Street analysts pick 3 stocks for their attractive prospects
▼ + stars: | 2024-12-01 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

Top Wall Street analysts look to pick stocks of companies that are backed by strong financials, reliable business models and that boast attractive product offerings. With that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. ServiceNowThis week's first pick is artificial intelligence-enabled workflow automation software company ServiceNow (NOW). Following a virtual fireside chat with ServiceNow's CFO Gina Mastantuono, Mizuho analyst Gregg Moskowitz reiterated a buy rating on NOW stock. The analyst also raised the price target to $1,070 from $980 to account for the rise in comparative valuation multiples.

Persons: Rafael Enrique, Lightrocket, Donald Trump, Gina Mastantuono, Gregg Moskowitz, Moskowitz, TipRanks, TD Cowen, Derrick Wood, Wood, Twilio Organizations: Wall, Mizuho, ServiceNow's Locations: Snowflake's, Snowflake

☆ A Tesla founder started an EV battery recycling company that's on pace to make $200 million a year
▼ + stars: | 2024-12-01 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +2 min

The company aims to produce enough battery materials for 1 million electric vehicles annually. Tesla cofounder JB Straubel said his electric vehicle battery-recycling startup, Redwood Materials, will make hundreds of millions in revenue this year. Straubel disclosed Redwood Materials' estimated revenue during an interview with The Wall Street Journal, saying his company will rake in about $200 million. AdvertisementThe company aims to produce enough battery materials for 1 million EVs annually. Tesla produces electric vehicles in the United States, but Americans have been slow to adopt them.

Persons: Tesla, JB Straubel, Straubel, We're, Automobility, Joe Biden, Donald Trump's Organizations: Wall Street Journal, Redwood Materials, Materials, Wall Street, Business, Tristar Media, EVs, McKinsey & Company Locations: Northern Nevada, United States, China

☆ Stellantis CEO Carlos Tavares resigns amid problems in U.S., falling sales
▼ + stars: | 2024-12-01 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Carlos Tavares, chief executive officer of Stellantis NV, speaks to the media at the Stellantis auto manufacturing plant in Sochaux, France, on Thursday, Oct. 3, 2024. DETROIT — Stellantis CEO Carlos Tavares has unexpectedly resigned from the automaker amid increasingly "different views" between the executive and the board of directors, the company said Sunday. The world's fourth-largest carmaker said its board accepted Tavares' resignation on Sunday. "Stellantis' success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO. Tavares' resignation comes less than two months after the company announced he would retire at the end of his contract in early 2026.

Persons: Carlos Tavares, Tavares, Stellantis, John Elkann, Henri de Castries Organizations: Stellantis NV, DETROIT — Locations: Sochaux, France

☆ Insider Today: Patagonia's big changes
▼ + stars: | 2024-12-01 | by ( Matt Turner | ) www.businessinsider.com time to read: +3 min

AdvertisementThis post originally appeared in the Insider Today newsletter. Some employees say it's lost sight of its values and the mission that once made it so special. AdvertisementTwelve people at the forefront of the AI industry spoke to BI about the challenges and opportunities ahead in the quest for superintelligent AI. AdvertisementBI spoke to eight families who received at least $6,000 from these programs to see whether the extra cash helped. This week's quote:Advertisement"The final boss on the way to Elon: Everything goes through him first."

Persons: Chelsea Jia Feng, —, Rebecca Zisser, Sam Altman, Tim Evans, Brittany Greeson, Helynn Ospina, Andre Chung, Libby, Omead Afshar, Elon Musk Organizations: Business, KPMG, Wall Street, BI, Brittany, Tesla, North Locations: Patagonia, Chelsea, Elon

☆ I've started using an AI notetaking app, and it's changed my meetings
▼ + stars: | 2024-12-01 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

AdvertisementA few months ago, I started using an AI notetaking app, Granola, in meetings. A few minutes after I'd hopped on a call with a tech founder, he mentioned that he'd started using an "amazing" AI notetaking app. AdvertisementI've been using Granola since midsummer, and it's changed my meetings. In fact, given the whac-a-mole way many of us work — quickly triaging the messages that bombard us throughout the day — AI notetaking apps could have our back. That's notable, in part, because in a recent survey, 57% of Granola users reported being in leadership roles.

Persons: I'd, he'd, Lizzie Widhelm, it's, Granola, I'm, Chris Pedregal, —, Pedregal, Slack, He's, I've Organizations: Google Locations: Granola, London

☆ 'Moana 2' snares $221 million in its five-day domestic opening, fueling the biggest Thanksgiving box office of all time
▼ + stars: | 2024-12-01 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

It was all feast and no famine at the Thanksgiving box office this year. "Moana 2" led the frame with $221 million for the five-day period, a significant overperformance compared to the $100 million box office analysts had initially expected. It is now the highest-grossing Broadway adaptation of all time at the domestic box office. This year's overperformance at the box office during the Thanksgiving period has also helped narrow the gap between 2024 and 2023's hauls. Heading into this holiday period, the 2024 box office was down 11% compared to the previous year's numbers.

Persons: Paul Dergarabedian, Shawn Robbins, Ralph Organizations: Fandango, Comcast, CNBC Locations: Hollywood, NBCUniversal

☆ The hurricanes have passed, but anxiety lingers. 3 Florida homeowners shared what keeps them up at night.
▼ + stars: | 2024-12-01 | by ( Dan Latu | ) www.businessinsider.com time to read: +7 min

One resident is afraid of residents abandoning homes after storms if they can't pay to be fixed. AdvertisementHurricanes Helene and Milton have exacerbated concerns about the future of property values and the cost of homeownership in Florida. Three Florida homeowners shared their concerns about the cost of rebuilding after hurricane damage, their home values, and the storms' impact on seasonal residents who are key drivers of the state economy. Hurricane Milton flooded this Florida neighborhood's streets. A coastal resident worries about his home valuePresident Biden listens to remarks from the St. Pete Beach, Florida mayor following Hurricane Milton.

Persons: Helene, Hurricanes Milton, Milton, Kyle Ulrich, Jon, Lyn Drake, Hurricane Milton, it's, Biden, Pete, John Adams, Hurricane Helene, Adams, Adam, snowbirds, Emily White, White, Will, Michael Warren Organizations: Sunshine State, Hurricanes, Intercontinental Exchange, Florida Association of Insurance, Associated, St, Hurricane Milton, Anadolu, Getty, Florida Water Management, FEMA, Associated Press Locations: Milton, Ft . Lauderdale, Miami, West Palm Beach, Jacksonville, Tampa . In Tampa, Florida, Cape, Yankeetown , Florida, Tampa, Gulf of Mexico, Hurricane, Pete Beach , Florida, Anadolu, Yankeetown, Inglis, Ocala, Gulf, Mexico, Ocala , Florida, Arizona

☆ Goldman Sachs has a trading strategy to score a few big wins before year end
▼ + stars: | 2024-12-01 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Goldman Sachs has its eyes on a particular trading strategy that could be a winner in the final weeks of 2024. Goldman highlighted 16 potential opportunities surrounding December analyst days in stocks ranging from Robinhood to GE Vernova to Match Group . HOOD YTD mountain Robinhood stock. Investors should also consider call options on GE Vernova ahead of its Dec. 10 investor day, Goldman said. Match stock has a one-month implied volatility of 38, in the 78th percentile compared to the past year.

Persons: Goldman Sachs, Goldman, John Marshall, Marshall, Donald Trump's, Joe Ritchie, Eric Sheridan, platform's Organizations: GE Vernova, GE, Goldman, Stock

☆ The Untold Story of Yeti Coolers and a Murder in the Philippines
▼ + stars: | 2024-12-01 | by ( Brendan Borrell | ) www.businessinsider.com time to read: +31 min

"He was a terrific designer, but hopeless in business," says Malcolm, Ivan's younger brother. Years after Ivan's murder, Yeti continues to contract with Outback — and Gloria travels to Texas to periodically to meet with Yeti's management. To make the most of their dwindling inventory, Roy and Ryan bumped up the price on their coolers. "As tragic as Ivan's death was, all of a sudden we are a much stronger company," Roy explained on a hunting podcast. Yeti Coolers went public in October 2018, and Roy and Ryan earned hundreds of millions of dollars after selling most of their shares.

Persons: Stout, Roy, Ryan Seiders, Ryan, didn't, — Ivan Royal Brown, Ivan, Gloria, Roger —, —, Roger, Jay McBride, Roy Seiders, Anuj Shrestha, Flip, Tek, Ivan Brown, Malcolm, Suzanne Handley, Clare, Ivan's, Suzanne, Tom Cat, hangouts, Malcolm isn't, Bryan Hammer, Hammer, Gloria's, GLORIA, BROWN, Malcolm's, Roy hustled, Serra, Malcolm Brown, Alvin Salas, Salas —, Pierre Bucsit, Romeo Amarillo, Prosecutors, Salas, it's, Ivan didn't, Nathaniel Colobong, Colobong, Terry Tate, they've, Brendan Borrell Organizations: Willys Jeep, Star, Five, Country, Texans, Flex, Texas, Waterloo, ESPN, Texas Tech, Rover, Workers, Foreigners, Philippines Securities, Exchange Commission, Cruiser, Honda, Northern Philippine Times, Ray's, Outback, BI Locations: America, Philippines, Austin , Texas, Roy, Australian, Texas, Driftwood, Austin, Australia, Thailand, Bangkok, Manilla, Angeles City, Queensland, Brisbane, Clark Freeport, City, American, Lodge, Philippine, Patagonia, Yeti's, Los Angeles

☆ Volkswagen workers prepare to strike across Germany
▼ + stars: | 2024-12-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Tens of thousands of Volkswagen workers will participate Monday in strikes at plants across Germany, labor union IG Metall said, marking the largest walkouts at the carmaker’s domestic operations since 2018. “If necessary, this will become the toughest wage dispute Volkswagen has ever seen,” IG Metall’s chief negotiator Thorsten Groeger said in a statement Sunday. The walkouts will be the first large-scale strikes that Volkswagen has faced since 2018, according to IG Metall, when 50,000 workers idled plants over pay. Indefinite strikes could also be called as a last resort, but only after members have been consulted again, IG Metall said. Volkswagen has said it may need to close plants in Germany for the first time in its 87-year history.

Persons: Metall, IG, Thorsten Groeger, ”, IG Metall Organizations: London CNN, Volkswagen, VW, IG Metall’s, IG Metall Locations: Germany, China

☆ Elon Musk asks court to stop OpenAI from dropping nonprofit status
▼ + stars: | 2024-12-01 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

AdvertisementElon Musk is seeking an injunction against OpenAI to stop its transition to a for-profit entity. The injunction would block OpenAI's for-profit transition and partnerships with Microsoft. Elon Musk is trying to get the court to stop OpenAI's transition to a for-profit entity, a new filing shows. AdvertisementIf granted, the request for an injunction would stall OpenAI's for-profit transition and force the company to halt its partnerships with Microsoft. Musk originally filed the suit against Altman and other OpenAI executives in March before withdrawing it in June.

Persons: Elon Musk, OpenAI, Sam Altman, Musk's, Yvonne Gonzalez Rogers, Reid Hoffman, Hoffman, Musk, Peter Thiel, Altman, OpenAI — Organizations: Microsoft, Court, Northern, Northern District of, OpenAI, LinkedIn, Lawyers, Business, CNBC Locations: Northern District, Northern District of California

☆ New Orleans art triennial: Artist Amanda Williams revives George Washington Carver’s century-old patent for blue paint — and a powerful history
▼ + stars: | 2024-12-01 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +10 min

He had discovered the iron-rich soil could be used in a chemical reaction with a potassium compound and nitric acid to produce a vibrant blue pigment. But over the past three years, the Chicago-based artist and architect Amanda Williams has been reviving Carver’s blue with the help of researchers and scientists. “So there was a practicality to it, but there was also ingenuity in figuring out that things around you can yield unexpected results.”An arts building at Xavier University painted in Carver blue. GBM Historical Images/ShutterstockFor Carver, color was a tool to beautify the homes of the region’s poorest residents that could be achieved through natural resources. Courtesy the artistBut for her commission for Prospect.6, titled “In Her Rich Deposits of (Blue),” Williams chose to focus on “signaling joy, and not inequity or disparity,” she said.

Persons: George Washington Carver, Pablo Picasso, Hokusai, Carver, Amanda Williams, ” Williams, Tom Harris, Williams, —, Sheen, ”, Kramer, “, Booker T, Yves Klein, Klein Organizations: CNN, Tuskegee University, Xavier University, Chicago World’s, The University of Chicago, New Orleans African American Museum, Prospect, Tuskegee, Washington, “ Locations: Berlin, Kanagawa, ”, Chicago, New Orleans, Tremé, NOAAM, Montgomery , Alabama, Side, Englewood, Black, Washington

☆ Warmer-than-expected fall weather is hurting retailers that sell coats and boots
▼ + stars: | 2024-12-01 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

The trend follows last year's weirdly warm winter, which posed its own challenges for retailers. With the holidays just around the corner, it looks like the milder fall weather took a toll on retailers. Apparel retailers mentioned the unseasonably warm temperatures during their recent earnings calls, saying the late start to colder weather has impacted their third-quarter results. Advertisement"At Burlington, we are particularly sensitive to warmer weather," CEO Michael O'Sullivan said. AdvertisementThe trend follows last year's weirdly warm winter, which was the warmest "meteorological winter" on record, according to NOAA.

Persons: Nordstrom, Michael O'Sullivan, O'Sullivan, Peter Nordstrom, Tom Kingsbury, Rick Gomez, Ernie Herrman Organizations: Apparel, Dick's Sporting Goods, NOAA, CNN, Target, Federal Reserve Locations: Burlington, Kohl's, South Dakota

☆ Stellantis CEO Carlos Tavares resigns as carmaker continues to struggle with slumping sales
▼ + stars: | 2024-12-01 | by ( ) www.cnbc.com time to read: +1 min

Stellantis CEO Carlos Tavares (C) answers journalists' questions after attending a visit of the production line of the new Peugeot e-3008 and e-5008 electric car at the Stellantis car factory in Sochaux, eastern France on October 3, 2024. Stellantis CEO Carlos Tavares is stepping down after nearly four years in the top spot of the Jeep and Ram maker, which has continued to struggle with slumping sales. The world's fourth-largest carmaker announced that its board accepted Tavares' resignation on Sunday. Stellantis noted Sunday that the process to appoint a new, permanent CEO is "well under way." As head of PSA Peugeot, Tavares took control of the Netherlands-based company in January of 2021 when it merged with Fiat Chrysler Automobiles.

Persons: Carlos Tavares, Tavares, Stellantis, John Elkann Organizations: Peugeot, Jeep, carmaker, PSA Peugeot, Fiat Chrysler Automobiles Locations: Sochaux, France, Netherlands

☆ Why Lululemon Is Thriving in China
▼ + stars: | 2024-12-01 | by ( Maria Noyen | ) www.businessinsider.com time to read: +5 min

AdvertisementLululemon has seen sales slide in North America, but it's thriving in China. But in China, changing health habits and a struggling luxury sector are helping to boost sales. China is in its health and wellness era, offering Lululemon a ray of hope as the brand struggles to engage consumers back in the US and Canada, where it was founded. Yet, over in China, Lululemon is on the up and up. Lululemon is resonating with Chinese consumers who are in their health and wellness era.

Persons: Lululemon, Budrul Chukrut, China Martin Roll, Zhang Chunlei, Roll, Zers, Olivia Plotnick, WGSN, Plotnick, influencers Organizations: Lululemon, Getty, McKinsey, Wai Locations: North America, China, Canada, Xinhua, Shanghai, Asia

☆ The hottest luxury fashion brands that customers should buy before everyone else does, according to The RealReal
▼ + stars: | 2024-12-01 | by ( Jordan Hart | Madeline Berg | ) www.businessinsider.com time to read: +4 min

AdvertisementSecondhand luxury platform The RealReal has a trove of data about the hottest brands. AdvertisementThese are the hottest brands to buy this season to be on-trend — and avoid overpaying for — next year, according to Naiman and Sciacca. Brands like Miu Miu and Loewe will continue to be popularMiu Miu is a favorite, and it's showing no signs of slowing down. Searches are surging on The RealReal, particularly for the brand's bags and sunglasses, with queries up 100% and 212% year-over-year, Sciacca said. The label's Puzzle Tote "is selling for an impressive 90% of its original price, while searches for the Flamenco bag have jumped 87% year-over-year," Sciacca said.

Persons: Kristen Naiman, Noelle Sciacca, Naiman, —, Christian Vierig, Sciacca, Romeo Gigli Romeo Gigli, Alena Zakirova, Romeo Gigli, Omondi, Miu Miu, Loewe, Jeremy Moeller, Daniele Venturelli, Ralph Lauren, Alaïa Ralph Lauren, Charly TRIBALLEAU, Alaïa Organizations: Bally Bally, Bally, Business, Brands Locations: Swiss

☆ Gen Zers and millennials are clamoring for their grandmas' bathrooms
▼ + stars: | 2024-12-01 | by ( Dan Latu | ) www.businessinsider.com time to read: +6 min

Inside a GLB-owned property in Los Angeles with vintage bathroom decor still intact. AdvertisementHomeowners are paying to get the lookA Los Angeles pink-tiled bathroom that cost $25,000 to return to pristine condition. Today, Bramson's company, GLB Properties, manages 30 properties throughout Los Angeles, with rents ranging from $3,250 for a one-bedroom to $11,000 for a four-bedroom. Biba de Sousa pays $4,000 monthly for a Los Angeles apartment from GLB Properties with carefully restored vintage tiles. In 2021, esthetician Biba de Sousa moved into a GLB apartment in LA's Miracle Mile neighborhood.

Persons: Dani Klaric, Klaric, Shannon Ggem, Zers, Ggem, Kohler, Alex Yacavone, Rachel Moriarty, Moriarty, Gene Bramson, Bramson, Biba de Sousa, Bramson's, Ivana, Angelenos, GLB, esthetician Biba de Sousa Organizations: Facebook, Business, GLB, Properties, Biba Locations: Florida, Miami, TikTok, Los Angeles, San Diego

☆ Biden’s pardon of his son makes presidential history
▼ + stars: | 2024-12-01 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

CNN —President Joe Biden made history Sunday when he granted a pardon to his son Hunter Biden for criminal convictions on gun and tax charges. With the pardon, Biden broke a clear public promise not to interfere with the justice system on his son’s behalf, something that will now stain his presidential legacy. She told me the framers did not anticipate the pardon power being used for close relations. In issuing the pardon for his son, Biden said Americans should still believe in the justice system. It’s in these final weeks in office that presidents frequently use their pardon power in the most controversial ways.

Persons: Joe Biden, Hunter Biden, “, ”, Biden, —, Hunter, Donald Trump’s, Joe Biden’s, Alexis Coe, George Washington, Bill Clinton, Roger, ► Trump, Charles Kushner, Kushner, Coe, Clinton, Trump, Marc Rich, Paul Manafort, Stephen Bannon, Bannon, It’s Organizations: CNN, Republicans, Trump, Constitutional Convention, Department of Justice, FBI, Congressional Research Service, Democrats Locations: United States, Ukraine, France, New York, Washington , DC

☆ Cheap and almost hangover-free — why the teeny, tiny martini is trending
▼ + stars: | 2024-12-01 | by ( Maria Noyen | ) www.businessinsider.com time to read: +5 min

AdvertisementAnd once you start noticing them on bar menus, it can quickly start to feel like the tiny martini is everywhere. Related storiesTayēr and Elementary's tiny martini debuted in 2019, but a bar representative told BI: "These days, there is literally no table that wouldn't order them." Teeny, tiny moments of luxuryAnother factor favoring the popularity of the mini martini is a heightened demand for luxury experiences. Tiny martinis might still scratch the itch for a special moment, Flynn added. "What it offers," she said, "is that feeling of a mini luxury moment."

Persons: IWSR, Tao, Missy Flynn, gilda, Gen Zers, Valentina, Valentina Tiny martinis, Gen Zer's, Claudine Ben, Zenou, Flynn, There's, gilda —, Claudia D'Arpizio Organizations: Pew Research Center, Bain, Bain & Company Locations: New York City, London, Side's, Tayēr, Rita's, American, London's Soho

☆ Stellantis CEO Carlos Tavares steps down
▼ + stars: | 2024-12-01 | by ( Auzinea Bacon | Chris Isidore | ) edition.cnn.com time to read: +1 min

New York CNN —Stellantis, the maker of Chrysler, Jeep, Fiat and Peugeot among other brands, announced on Sunday that embattled CEO Carlos Tavares has resigned due to differences with the board and in the face of disappointing sales and calls for his ouster. Tavares and the Stellantis board of directors had “different views,” which led to his resignation, Stellantis’ Senior Independent Director Henri de Castries, said in the release. Tavares, 66, a Portuguese businessman who was central to the deal that merged French automaker PSA Group, maker of Peugeot, and the European-American automaker Fiat-Chrysler, into the newly named Stellantis. Earlier this year, it was announced that Tavares would retire at the end of his contract in early 2026. The decision for Tavares to step down came amid high Jeep prices and a disappointed consumer base.

Persons: New York CNN — Stellantis, Carlos Tavares, Tavares, Stellantis, Henri de Castries, John Elkann Organizations: New, New York CNN, Chrysler, Jeep, Fiat, Peugeot, United Auto Workers union, PSA Group, Board, Interim, CNN Locations: New York, Portuguese, American

☆ How four journalists turned $4,000 into a new tech news site
▼ + stars: | 2024-12-01 | by ( Peter Kafka | ) www.businessinsider.com time to read: +5 min

Jason Koebler and three other veterans of Vice Media wanted to build something bigger: an actual news site. In the summer of 2023, Koebler, who used to edit Vice Media's Motherboard tech section, and three former Vice co-workers launched 404 Media , a tech news site they co-own. But in a grim climate for media in general and journalism specifically, it's great to hear about things that work. Your argument is that you're going to continue to have these problems as long as you're looking for billionaires to own your media. I think that's an important model and maybe one better suited for nonprofits and The New York Times and Washington Post.

Persons: Jason Koebler, Koebler, Elon Musk, Alex Jones, We're, Jeff Bezos, We've, it's Organizations: Vice Media, Media, Elon, The Washington Post, New York Times, Washington Post

☆ How the Border County Where Elon Musk Is a Local Flipped for Trump
▼ + stars: | 2024-12-01 | by ( Jazmine Ulloa | Callaghan O Hare | ) www.nytimes.com time to read: +1 min

The story of the political transformation of Cameron County, a majority-Hispanic border community at the southernmost tip of Texas, began with the arrival of a billionaire. More than a decade ago, Mr. Musk brought his private space company, SpaceX, to Cameron County, where the blasts from his rocket testing and launching site on Boca Chica Beach rattle homes for miles. Mr. Trump did something no Republican has done in 20 years: He flipped Cameron County. Mr. Trump won the county with 53 percent of the vote, the first time a Republican presidential candidate claimed victory here since George W. Bush, the former Texas governor and then the president, in 2004. It was one of a string of largely blue-collar Hispanic Democratic strongholds across South Texas where Mr. Trump made major inroads.

Persons: Donald J, Elon Musk, Musk, Cameron County’s, Trump, George W, Bush Organizations: Trump, SpaceX, Boca, Republican, Democratic Locations: Cameron County, Texas, Downtown, Brownsville, America, South Texas

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