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SYDNEY, June 26 (Reuters) - PricewaterhouseCoopers Australia staff who are found to have acted improperly in a scandal over the leaking of government tax plans will face "severe" consequences, acting chief executive Kristin Stubbins told a state parliament inquiry on Monday. "We have failed the standards we set for ourselves as an organisation, and I apologise on behalf of our firm," Stubbins said. The firm has already placed nine partners on leave and named four former partners directly involved in the breach who have since left the firm. The move will cut PwC Australia off from the "vast majority" of public sector consulting work, although some external audit work for government clients may stay, said Stubbins. She will remain in the role until Kevin Burrowes, currently Global Clients & Industries lead based in Singapore, relocates to Australia for the job.
Persons: Kristin Stubbins, Stubbins, David Seymour, Kevin Burrowes, Lewis Jackson, Diane Craft, Sonali Paul Organizations: SYDNEY, PricewaterhouseCoopers Australia, Allegro Funds, Global, Industries, Thomson Locations: Australia, New South Wales, ringfence, PwC Australia, Singapore
Jesse Watters host of "The Five" interviews Jenna Bush Hager and Barbara Bush during "The Five" at Fox News Studios on November 13, 2017 in New York City. Fox News has named Jesse Watters as the newest star of its 8 p.m. ET primetime slot, as the network looks to boost ratings two months after ousting Tucker Carlson from the post. He is currently the host of the 7 p.m. opinion show "Jesse Watters Primetime," and appears regularly on "The Five," one of Fox News' highest rated programs. There was no sendoff for Carlson and his "Tucker Carlson Tonight," which had long been one of Fox's most-watched shows.
Persons: Jesse Watters, Jenna Bush Hager, Barbara Bush, Tucker Carlson, Watters, Laura Ingraham's, Sean Hannity's, Greg Gutfield's, Suzanne Scott, Laura Ingraham, Sean Hannity, Greg Gutfeld, Carlson Organizations: Fox News Studios, New York City . Fox News, Fox News, FOX, Fox, Fox Corp, Systems, Twitter, Dominion, NBC Locations: New York City
SYDNEY, June 26 (Reuters) - Australian lawmakers will ask for more details about PwC staff involved in the leak of government tax plans when acting head Kristin Stubbins appears before a state parliament on Monday, her first public appearance since her predecessor stepped down over the scandal. But there were still many unanswered questions, inquiry chair and Greens party lawmaker Abigail Boyd said on Sunday. "(The sale) seems like a really good way to avoid scrutiny," she told Reuters on Sunday. "Look we've taken action, we've sold off the business, we've got a new person in, everything is fine. She will remain in the role until Kevin Burrowes, currently Global Clients & Industries lead based in Singapore, relocates to Australia for the job.
Persons: Kristin Stubbins, Stubbins, Abigail Boyd, we've, Boyd, David Seymour, Kevin Burrowes, Lewis Jackson, Diane Craft Organizations: SYDNEY, Global, Industries, Thomson Locations: New South Wales, NSW, Singapore, Australia
Warner Bros. The layoffs affected the company's vast portfolio of cable-TV networks including the Discovery Channel, Investigation Discovery and the Food Network. Its offerings are among the movies and shows included on Warner Bros. The shakeup at the network inspired Warner Bros. Scorsese, Spielberg and Anderson added that Zaslav contacted them regarding the restructuring of TCM, adding they each spent time talking with the CEO, individually and as a group, "and it's clear that TCM and classic cinema are very important to him.
Persons: shakeup, David Zaslav, Martin Scorsese, Steven Spielberg, Paul Thomas Anderson, , Turner, Scorsese, Spielberg, Anderson, Zaslav Organizations: Warner Bros, Discovery, Discovery Channel, Food Network, Turner, TCM
It's not unusual for a company's stock price to soar — or sink — on news of a CEO shakeup. So, CEOs matter when picking stocks — and at the Club, these are the five things we look for when evaluating the leaders of our holdings. A stock's day-to-day and even month-to-month performance may not truly reflect how well a CEO is leading a company. Trust has value, and the stocks of companies led by reputable CEOs with competent management teams can trade at premium valuations. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Mary Dillon, Locker, J im Cramer, buybacks, Rainer Blair, , Kevin Johnson, Marc Benioff, Mark Zuckerberg, Zuckerberg, we've, Bruce Broussard, Humana, Jeff Smith's, Craig Jelinek, who's, that's, Jelinek, it'd, Andy Jassy, Tim Cook, he's, Cook, Jim Cramer's, Dan Schulman, Sanjiv Lamba, Linde, Lamba, Eli Lilly, Dave Ricks, Eli Lilly's, Jim, Lilly, Jim Farley, Farley, Elon Musk's Tesla, Ford, LLY, Jim Cramer, Spencer Platt Organizations: Club, McKinsey & Co, Natural Resources, GE Life Sciences, SVB Securities, Starbucks, Humana, Bain & Co, Costco, CNBC, Apple, Amazon's, Football, MGM, Management, PayPal, Linde, LIN, Ford Motor, Wall, EV, Ford, The New York Stock Exchange, Financial, Getty Locations: U.S, Manhattan, New York City
REUTERS/Peter DaSilvaNEW YORK, June 21 (Reuters) - Meta Platforms (META.O) will return to its former status as a full growth stock after financial data provider FTSE Russell finishes its annual shakeup of its stock index components on Friday. Every year, FTSE Russell reconstitutes, or refreshes, the components across its indexes, such as the Russell 2000 (.RUT) index of small cap stocks and Russell 1000 (.RUI) index of large-cap names. There are also style indexes such as the Russell 1000 Growth (.RLG) and Russell 2000 Value (.RUJ). FTSE Russell says about $12.1 trillion is currently benchmarked to the Russell US equity indexes. "The growth indexes look more like growth benchmarks and the value indexes look more like cyclical value indices," said Steven DeSanctis, equity analyst at Jefferies in New York.
Persons: Peter DaSilva, Russell, FTSE Russell reconstitutes, RUI, Goldman Sachs, Stocks, Goldman, Bryant VanCronkhite, VanCronkhite, Catherine Yoshimoto, Steven DeSanctis, You've, Thomas Martin, Chuck Mikolajczak, Alden Bentley, Matthew Lewis Organizations: Facebook, Meta, REUTERS, Russell, FTSE, FTSE Russell, London Stock Exchange, Allspring Global Investments, Walmart, Jefferies, Nasdaq, New York Stock Exchange, Globalt Investments, Thomson Locations: Mountain View , California, U.S, Menomonee Falls , Wisconsin, New York, Atlanta
He is now vice president of engineering at Uber. Panda reported to Nima Khajehnouri, Snap's vice president of engineering, who has been at the company since 2015. Snap, however, recently hired Eric Young as its new senior vice president of engineering, with Khajehnouri now reporting to him. He joined Greylock earlier this year after being at Snap also since 2015 as its senior vice president of product and growth. Along with Patrick Harris in a newly created role as Snap's senior vice president of partnerships, and David Sommer as head of verticals.
Persons: Panda, Snapchat, Nima Khajehnouri, Khajehnouri, Jerry Hunter, Eric Young, Young, Hunter, Jacob Andreou, Peter Sellis, Darshan Kantak, Rob Wilk, Patrick Harris, David Sommer, Kali Hays Organizations: Uber, Google, Reuters, . Workers, Greylock, Microsoft, Meta, Facebook, Twitter Locations: khays
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCan't explain why investors are shying away from China stocks 'based on fundamentals': Brendan AhernBrendan Ahern, KraneShares CIO, joins 'Fast Money' to talk U.S.-China relations, a leadership shakeup within Alibaba, and more.
Persons: Brendan Ahern Brendan Ahern Organizations: KraneShares Locations: China, Alibaba
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEddie Wu takes over as CEO of Alibaba in surprise leadership shuffleCNBC's Deirdre Bosa joins 'The Exchange' to discuss Alibaba's surprise leadership shakeup, Jack Ma's relationship with the new Alibaba executives, and the decision to split up the Alibaba Group.
Persons: Eddie Wu, Alibaba, Deirdre Bosa, shakeup, Jack Ma's Organizations: Alibaba
Berhalter to return as US coach, the Athletic reports
  + stars: | 2023-06-16 | by ( ) www.reuters.com   time to read: +1 min
June 16 (Reuters) - Gregg Berhalter is poised to return as coach of the United States men's team, The Athletic reported on Friday, almost six months after U.S. Soccer let his contract expire amid a shakeup at the federation. The Athletic said the deal is "still being finalised" but that Berhalter's return was "imminent". Berhalter had made remarks criticising Reyna's commitment to the team at the World Cup, saying that he even considered sending him home. U.S. Soccer launched an investigation, which said in March that the incident would not prevent the body from rehiring Berhalter. Callaghan, who took over from Anthony Hudson when he stepped down as interim manager, has guided the United States to the final of the CONCACAF Nations League where they face Canada on Sunday.
Persons: Gregg Berhalter, Gio Reyna, Berhalter, Reyna's, Danielle, B.J, Callaghan, Anthony Hudson, Pearl Josephine Nazare, Peter Rutherford Organizations: United, United States men's, The Athletic, U.S, Soccer, Athletic, ESPN, Reuters, . Soccer, CONCACAF Nations League, Thomson Locations: United States, Qatar, Berhalter, U.S, Canada, Bengaluru
Disney CFO Christine McCarthy steps down
  + stars: | 2023-06-15 | by ( Samantha Delouya | ) edition.cnn.com   time to read: +1 min
Los Angeles CNN —Disney (DIS) Chief Financial Officer Christine McCarthy is stepping down from her role and taking a family medical leave of absence, the company said Thursday. Kevin Lansberry, the company’s CFO of Parks, Experiences and Products, will step in as interim CFO, effective July 1. “Christine McCarthy is one of the most admired financial executives in America, and her impact on The Walt Disney Company during 23 years of dedicated service cannot be overstated,” Disney CEO Bob Iger said in a statement. McCarthy, who has served as CFO for more than 8 years, will serve as a strategic adviser while on leave and assist with selecting a long-term successor, the company said. “Although I am leaving the CFO role, I look forward to helping with the transition and will always be rooting for the success of my extended Disney family,” McCarthy said in a statement.
Persons: Los Angeles CNN —, Christine McCarthy, Kevin Lansberry, “ Christine McCarthy, Bob Iger, McCarthy, ” McCarthy, Lansberry Organizations: Los Angeles CNN, Los Angeles CNN — Disney, Parks, Walt Disney Company, company’s Parks, Disney Locations: America
June 9 (Reuters) - The White House on Friday said electric-vehicle charging stations using Tesla (TSLA.O) standard plugs would be eligible for billions of dollars in federal subsidies as long as they included the U.S. charging standard connection, CCS, as well. The statement follows separate announcements by U.S. automakers Ford Motor (F.N) and General Motors (GM.N) that they were adopting the Tesla model of charging, known as the North American Charging Standard (NACS). Tesla shares rose 4.1%. Some of them said on Friday that they would work to adapt to the Tesla standard. [1/2] Tesla charging stations are pictured in a parking lot in Shanghai, China March 13, 2021.
Persons: Biden, Tesla, Robyn Patterson, Patterson, Tesla's, Oleg Logvinov, Aly, Logvinov, Sam Houston, Danni Hewson, AJ Bell, Blink, Jonathan Levy, We've, They've, Asaf Nagler, ChargePoint, Jarrett Renshaw, Abhirup Roy, Hyunjoo Jin, Chavi Mehta, Bhanvi, Sayantani Ghosh, David Gaffen, Peter Henderson, Matthew Lewis Organizations: U.S, Ford Motor, General Motors, American, CCS, Analysts, Ford, GM, EV, Reuters, Volkswagen, Hyundai Motor, Kia, IoTecha, REUTERS, CharIN, Union of Concerned, Tesla, ABB, America, Thomson Locations: United States, Shanghai, China, CharIN North America, Swiss, Philadelphia, San Francisco, Bengaluru
June 9 (Reuters) - The White House on Friday said electric-vehicle charging stations using Tesla (TSLA.O) standard plugs would be eligible for billions of dollars in federal subsidies as long as they included the U.S. charging standard connection, CCS, as well. Tesla shares rose as much as 7.5% on Friday but pared gains to close 4.1% higher at $244.40. Analysts said the Ford and GM news was a big win that could make Tesla Superchargers an industry standard in the United States. GM and Ford shares closed up 1.1% and 1.3%, respectively. Musk on Friday said in a tweet it would be "ideal" for Tesla chargers to need only CCS adapters to meet federal charging standards.
Persons: Biden, Tesla, Robyn Patterson, Patterson, Tesla's, Sam Houston, Danni Hewson, AJ Bell, Blink, Jonathan Levy, ChargePoint, Musk, Jarrett Renshaw, Hyunjoo Jin, Abhirup Roy, Chavi Mehta, Bhanvi, Sayantani Ghosh, David Gaffen, Peter Henderson, Matthew Lewis Organizations: U.S, Ford Motor, General Motors, American, CCS, Ford, GM, EV, Reuters, Volkswagen, Hyundai Motor, Kia, Union of Concerned, Tesla, Elon, Thomson Locations: United States, Philadelphia, San Francisco, Bengaluru
GameStop plunged 22% on Thursday after the video game retailer fired its CEO and reported a quarterly revenue decline. The company said its largest investor, Ryan Cohen, would be named executive chairman. In addition to the firing, the company said Ryan Cohen would be named executive chairman of the company. Shortly after Wednesday's announcement that Cohen had been named executive chairman of GameStop, Cohen tweeted: "Not for long." In addition to the executive shakeup, GameStop announced its fiscal first-quarter revenue of $1.237 billion, which represented a year-over-year decline of 10%.
Persons: Ryan Cohen, , Matthew Furlong, Cohen, Michael Pachter, Furlong, Pachter Organizations: GameStop, Amazon, Service
CNN staffers don’t want the organization to be known for and consumed by a never-ending soap opera starring the C-suite. With Chris Licht’s dismissal as chairman and chief executive of CNN on Wednesday morning, staffers are aiming to get back to that mission. In recent months, David Zaslav, chief executive of CNN parent Warner Bros. The piece, in which Alberta spoke to more than 100 CNN employees, called into question Licht’s ability to lead the organization moving forward. Will the next network chief be an improvement over Licht?
Persons: don’t, Chris Licht’s, Jeff Zucker, Licht, David Zaslav, Zaslav’s, David Leavy, Tim Alberta, Zaslav, , , , ” Zaslav, “ It’s, Amy Entelis, Virginia Moseley, Eric Sherling, WBD Organizations: CNN, Employees, Warner Bros, Hudson, New Locations: Alberta, New York
Gamestop fires CEO as Q1 earnings released
  + stars: | 2023-06-07 | by ( Samantha Delouya | ) edition.cnn.com   time to read: +2 min
CNN —GameStop fired its CEO, Matt Furlong, and elevated Ryan Cohen to executive chairman, the company announced on Wednesday. GameStop (GME) also reported a net loss of $50.5 million, compared to a net loss of $157.9 million in the first quarter of 2022. The loss comes just a few months after GameStop (GME) reported its first quarterly profit in two years. Shares of GameStop tumbled nearly 20% in after-hours trading on the news of the company’s financial results and C-suite shakeup. During this period, GameStop’s stock surged to an all-time intraday high of $483, before falling.
Persons: Matt Furlong, Ryan Cohen, Furlong, Dean Lewins, Chewy, , Organizations: CNN, GameStop, Securities and Exchange Commission, GameStop’s, Bed, AMC Entertainment
Investors shot down proposals urging Exxon and Chevron to set more ambitious climate targets. Climate-minded investors blame Big Oil's soaring profits and Republicans' criticism of ESG. "It's incomprehensible why investors are accepting this when they have more to worry about than the profits of Big Oil. Exxon in December said more than 70% of its capital investments in the coming years would flow to fossil-fuel development. "To be fair, we have seen change at Exxon in the last two years.
Persons: Big, Mark van Baal, Critics, Andrew Logan Organizations: Exxon, Chevron, Service, ExxonMobil, BlackRock, Vanguard, Big, Big Oil Locations: Ukraine
SHANGHAI, CHINA - MAY 10: A visitor takes photos of Ehang 216 electrical vertical take-off and landing (VTOL) autonomous aerial vehicle (AAV) during the Exposition on China Brand 2023 at the Shanghai World Expo Exhibition and Convention Center on May 10, 2023 in Shanghai, China. But the scope for surprises should be significantly diminished and they shouldn't result in significant operational challenges, as occurred in 2021," said S&P Global Ratings, in a report. "China's internet sector has emerged from its regulatory shakeup. Policymakers are signaling support and seem done with big legal changes or sweeping actions," said the report entitled "China's internet regulations: Fewer surprises, not zero surprises." China's crackdown on its large tech companies started in 2020, which saw the government imposing new regulations on tech.
Lots of Club holdings, including Nvidia (NVDA) and Alphabet (GOOGL), were among the stocks traded by some of Wall Street's biggest investors and money managers in the first quarter. That firm, Jeffrey Ubben's Inclusive Capital, had owned 1.63 million Salesforce shares at the end of December, worth nearly $217 million at the time. Jeff Smith's Starboard Value also sold some Salesforce shares in Q1, leaving the firm with 2.5 million shares at the end of March. Mason Morfit's ValueAct Capital amplified its Salesforce stake in the first quarter, ending with 3.5 million shares, up from just 560,221 shares at the end of 2022. Loeb's Third Point amassed 4.75 million shares of Alphabet, worth $492.7 million at the end of the first quarter.
Amazon Studios is shaking up its business ranks in the wake of its acquisition of MGM. Feldman has been at Amazon Studios since 2015 and was a VP at MTV for about four years before that. Feldman has been at Amazon Studios since 2015 and was a VP at MTV for about four years before that. Also getting new responsibilities is Sam Semon , who will have international business affairs consolidated under him, adding oversight for Ingrid Auyón Tanji, who leads business affairs in Latin America. , who will have international business affairs consolidated under him, adding oversight for Ingrid Auyón Tanji, who leads business affairs in Latin America.
Michigan Avenue in Lansing, Michigan. said Cathleen Edgerly, executive director of Downtown Lansing, Inc., a nonprofit working on the culture and sustainability of the downtown. Lansing had the largest share of job listings in March with at least one day of remote work of any city, according to WFH Map. And an analysis by Bloomberg found remote work has cost Manhattan more than $12 billion annually. Lansing, Michigan, USA at the Michigan State Capitol during the evening.
The entertainment giant will need at least another quarter to see meaningful benefits to profitability from Iger's turnaround plans. "This is not the Disney quarter," he added. The analysts increased their 12-month price target on Disney stock to $135 per share, from $130, and reiterated a buy rating. DIS YTD mountain Disney's stock performance year-to-date. Disney's average revenue per user (ARPU) for its March quarter is expected to be $4.40.
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Jim said he called Peltz, founding partner of hedge fund Trian Fund Management, who denied having any interest in Estee Lauder. The founding Lauder family owns roughly 38% of Estee Lauder common stock and dominates 86% of the voting power . Moreover, we see no need for activism at Estee Lauder. Freda undoubtedly misjudged the pace of the travel retail recovery amid China's gradual economic reopening this year. An Estee Lauder pop-up store is seen inside daimaru Department Store on Nanjing Road Pedestrian street in Shanghai, China, August 6, 2021.
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Equities lower ahead of inflation data Watch Estee Lauder Buy Caterpillar 1. Watch Estee Lauder Nelson Peltz isn't going to do anything with Estee Lauder (EL), the activist investor told Jim Cramer Monday. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
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