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☆ What protests in China may mean for the economy
▼ + stars: | 2022-11-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN Business —Protests against China’s prolonged and restrictive Covid regulations spread across the country over the weekend. Oil plunged and hit 2022 lows on Monday, while shares of companies that rely on China for production felt the heat. Oil prices dropped sharply, with investors concerned that surging Covid cases and protests in China may sap demand from one of the world’s largest oil consumers. They don’t want to end their covid policy but they also want to ensure that the political unrest doesn’t grow. This week is chock full of important economic data releases, many of which will help guide the Fed’s next interest rate hike decision in December.

☆ US consumer confidence falls to lowest level since July
▼ + stars: | 2022-11-29 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Minneapolis CNN Business —US consumer confidence fell in November as inflation and economic uncertainty continued to loom large and potentially dampen holiday shopping plans. The Conference Board’s consumer confidence index measured 100.2 for the month, lower than the downwardly revised 102.2 in October. The index is at its lowest level since July, when it fell to 95.7 amid spiking gas prices and worsening inflation. “If we had a combination of higher prices and higher unemployment at the same time, I think we’d be seeing a very different consumer than what we see right now,” he said. While consumer confidence has fallen, it still remains relatively resilient; but it is unlikely to last, said Chris Rupkey, chief economist of FwdBonds LLC, in a note on Tuesday.

☆ Disabled Shoppers Struggle With Inaccessible Self-Checkouts
▼ + stars: | 2022-11-21 | by ( Katie Deighton | ) www.wsj.com time to read: +8 min

Stores’ self-checkout machines can annoy shoppers with error messages about unexpected items in the bagging area and other hiccups. PREVIEWThe problem is spreading as companies continue to install self-service transaction machines around the world, some disabled people and disability-rights activists say. The Baltimore-based organization last year worked with McDonald’s Corp. to upgrade its self-service kiosks so that they could be used independently by blind people. Walmart said its self-checkout system was accessible because staff had been trained to help disabled customers use it. Steps toward potential regulationsThe U.S. is looking into the possibility of creating regulations for the accessibility of self-service checkouts and ordering systems.

☆ Disney offers an Iger solution to an Iger problem
▼ + stars: | 2022-11-21 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 21 (Reuters Breakingviews) - Bob Iger isn’t really the reset that Walt Disney (DIS.N) needs, but for now, he’s the reset the $180 billion media giant is getting. The board is mandating that Iger set the strategic direction of the company and find his successor. Reuters GraphicsFollow @jennifersaba on TwitterloadingCONTEXT NEWSWalt Disney on Nov. 20 said Bob Iger is returning as chief executive officer, effective immediately. He replaces Bob Chapek, who was named chief executive officer in February 2020, replacing Iger. Iger, 71, served as chief executive from 2005 until 2020.

☆ Premarket stocks: Recession fears receded this earnings season
▼ + stars: | 2022-11-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

So can the United States avoid a serious recession? What’s happening: As the third-quarter earnings season wraps up, it appears that CEOs may think so. The past month has brought with it a solid earnings season and a bevy of encouraging economic data that shows a slowing pace of inflation. The United States will enter a “mild recession in the second half of 2023, they said. All regions of the United States saw month-over-month and year-over-year declines.

☆ Watch the CNBC ‘Halftime Report’ investment committee weigh in on Iger's return as Disney CEO
▼ + stars: | 2022-11-21 | 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 EmailWatch the CNBC ‘Halftime Report’ investment committee weigh in on Iger's return as Disney CEOCNBC’s ‘Halftime Report’ investment committee, Kari Firestone, Josh Brown, Joe Terranova and Jim Lebenthal discuss the Disney board’s decision to replace CEO Bob Chapek with former CEO Bob Iger and how it impacts the stock.

☆ Bob Chapek's corporate activism may have caused issues with shareholders, says Cerity's Jim Lebenthal
▼ + stars: | 2022-11-21 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBob Chapek's corporate activism may have caused issues with shareholders, says Cerity's Jim LebenthalCNBC’s ‘Halftime Report’ investment committee, Kari Firestone, Josh Brown, Joe Terranova and Jim Lebenthal discuss the Disney board’s decision to replace CEO Bob Chapek with former CEO Bob Iger and how it impacts the stock.

☆ Tesla Board’s View That Elon Musk Is Irreplaceable Emerged in Pay Trial
▼ + stars: | 2022-11-19 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

A weeklong trial in Delaware focused on Elon Musk’s compensation package and the deal that led to it. WILMINGTON, Del.—The scale of concern among Tesla Inc. board members about how to keep Elon Musk‘s attention trained on the electric-vehicle maker loomed large during a weeklong trial over the chief executive’s pay package. A desire to motivate Mr. Musk to focus on Tesla triggered a monthslong pay negotiation that culminated in the shareholders’ approval of a 2018 CEO equity grant valued at roughly $48 billion at recent stock prices.

☆ Federal control board supervising Puerto Rico’s finances has a new director
▼ + stars: | 2022-11-17 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

SAN JUAN, Puerto Rico — A federal control board that supervises Puerto Rico’s finances announced a new executive director on Thursday after its last one stepped down in April following a historic debt restructuring for the U.S. territory. Robert Mujica, budget director for New York state, is expected to assume his new role in January. In 2017, Puerto Rico filed for the largest municipal bankruptcy in U.S. history. So far, auditors are still reviewing Puerto Rico’s 2019 budget. Critics also have noted that the ongoing bankruptcy process has cost Puerto Rico around $1 billion in consultants, lawyers and other expenses, and that the board’s director earns $625,000 a year.

☆ Elon Musk’s Tesla Compensation Trial Turns to Financial Experts in Closing Days
▼ + stars: | 2022-11-17 | by ( Rebecca Elliott | ) www.wsj.com time to read: 1 min

A five-day trial over Elon Musk’s multibillion-dollar pay package at Tesla is entering its closing days. WILMINGTON, Del.—The trial over Elon Musk‘s multibillion-dollar pay package at Tesla Inc. enters its closing days with outside financial experts poised to take the stand. Richard Tornetta, a Tesla shareholder, is seeking to nullify Mr. Musk’s 2018 pay package, alleging that the CEO controlled the board’s consideration of his grant and that the board failed to disclose crucial information to shareholders, who signed off on it.

The rapid moves Tuesday in Berkeley County, the fourth largest school district in the state, showed the impact of Moms for Liberty’s focus on electing conservative school board members, and prompted uproar among some community members in attendance. Deon Jackson was voted in as district superintendent during a special meeting of the Berkeley County School District board on May 19, 2021 in South Carolina. Berkeley County School DistrictMoms for Liberty said it has endorsed more than 500 school board candidates across the country this year, and 49% have won. Berkeley County School DistrictNone of the board members responded to emails or phone calls Wednesday. Each vote — firing the superintendent, picking his replacement, terminating the district’s lawyer and banning critical race theory — passed with support from only the six Moms for Liberty-backed members.

☆ Tesla Chair Testifies in Elon Musk’s Compensation Trial in Delaware
▼ + stars: | 2022-11-15 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

In this courtroom sketch from Monday, venture capitalist Ira Ehrenpreis was cross-examined in Elon Musk’s compensation trial. WILMINGTON, Del.— Tesla Inc. Chair Robyn Denholm kicked off testimony Tuesday in the second day of a trial over Elon Musk‘s multibillion-dollar pay package at the electric-vehicle maker. A Tesla shareholder, Richard Tornetta, is seeking to nullify Mr. Musk’s 2018 compensation grant, alleging that Mr. Musk controlled the board’s consideration of his pay package and failed to disclose crucial information to shareholders who signed off on it—such as how achievable the company viewed certain milestones to be. The package is worth around $51 billion at recent share prices.

☆ Elon Musk’s Influence Over Tesla’s Board in Focus as Tesla Compensation Trial Kicks Off
▼ + stars: | 2022-11-14 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

WILMINGTON, Del.—Opening-day testimony in the trial over Elon Musk‘s multibillion-dollar pay package at Tesla Inc. centered on the CEO’s role in determining his own compensation. A Tesla shareholder, Richard Tornetta , is seeking to nullify Mr. Musk’s 2018 compensation grant, alleging that Mr. Musk controlled the board’s consideration of his pay package and failed to disclose crucial information to shareholders, who signed off on it. The package is worth around $51 billion at recent share prices.

☆ FIFA forbids Danish men’s soccer team from wearing pro-human rights shirts at Qatar World Cup
▼ + stars: | 2022-11-11 | by ( Matt Foster | ) edition.cnn.com time to read: +2 min

CNN —The men’s Danish soccer team has been forbidden from wearing training shirts showing human rights messaging at this month’s World Cup in Qatar. The Danish Football Federation’s (DBU) CEO, Jakob Jensen, revealed the ban in an interview with Danish publication DR Sporten, released on Thursday. “We are of the opinion that the message Human Rights for All is universal and is not a political call, but it should be something that all people can support.”FIFA abides by the International Football Association Board’s (IFAB) Laws of the Game and declined to comment on the matter when CNN reached out. Tournament organizers at the time disputed Hummel’s claims and said they have engaged in “robust and transparent dialogue” with the DBU. The 2022 World Cup runs from November 20 through to December 18.

☆ TuSimple Co-Founder Ousts Board That Fired Him Last Month
▼ + stars: | 2022-11-10 | by ( Kate O'Keeffe | Heather Somerville | ) www.wsj.com time to read: 1 min

TuSimple was founded in 2015 and went public in April 2021, raising more than $1 billion at an $8.5 billion valuation in the process. Co-founder and former chief executive of TuSimple Holdings Inc. Xiaodi Hou combined forces with another major shareholder to oust the self-driving trucking company’s board of directors, according to a securities filing Thursday. The extraordinary move by Mr. Hou and fellow TuSimple co-founder Mo Chen follows the board’s decision on Oct. 30 to oust Mr. Hou from his roles as CEO and chairman. Board members at the time said they made the move in connection with a continuing investigation they were conducting into TuSimple’s relationship with a Chinese startup called Hydron Inc.

☆ Dan McCafferty, original lead singer of rock band Nazareth, dead at 76
▼ + stars: | 2022-11-09 | by ( Amarachi Orie | ) edition.cnn.com time to read: +1 min

London CNN —Dan McCafferty, the original lead singer of Scottish hard rock band Nazareth, has died aged 76, his band has confirmed. Nazareth is best known for its hit cover of "Love Hurts." McCafferty was one of the founding members of Nazareth, which evolved out of the Scottish beat group Shadettes, in 1968, along with Agnew, Manny Charlton and Darrell Sweet. He stopped touring with Nazareth in autumn of that year after making the album “Rock ‘n’ Roll Telephone,” and English rock singer Carl Sentence was recruited as the band’s new lead vocalist. McCafferty had several personal projects, releasing his final solo album, “Last Testament,” in 2019.

☆ Two Florida medical boards advance ban on gender-affirming care for minors
▼ + stars: | 2022-11-04 | by ( Zachary Schermele | ) www.nbcnews.com time to read: +4 min

Florida’s state medical boards voted Friday afternoon to approve the language of a first-of-its-kind rule banning gender-affirming care for transgender minors who don’t already receive it. The rule updates the medical standards of practice in the state to mostly prohibit health care professionals from starting treatment for gender dysphoria in those younger than 18. Gender dysphoria refers the stress and discomfort some experience when their gender identity doesn’t match their sex assigned at birth. The measure bans the prescription of puberty blockers or hormone therapy to new patients who are minors, and it forbids gender-affirming surgeries. In a statement Friday, Equality Florida said once the rule goes into effect, it will be the only ban in the country of gender-affirming care for minors instituted by a state medical board.

CNN —Police are questioning a nanny employed by Nigerian music star Davido following the death of his three-year-old son on Halloween. The unnamed childminder was taken in for questioning along with seven other members of the performer’s domestic staff, six of whom have since been released, police have told CNN. Hundeyin said: “It appears to be drowning but we need to conduct our investigation to ascertain that.”Officers have not yet reviewed CCTV footage from the scene, Hundeyin told CNN. You will grow to be greater than Me , Happy birthday, son @davidifeanyiadeleke !!! Adegboyega Oyetola, governor of the state of Osun where Davido is from, tweeted: “Sad to learn of the unfortunate passing of Ifeanyi, son of music star, David Adeleke popularly known as @davido.

☆ Behind the vocal Asian American minority railing against affirmative action
▼ + stars: | 2022-11-01 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +9 min

As the Supreme Court weighs two high-profile cases challenging affirmative action, a vocal minority of Asian Americans continues to impact public debate. Among Chinese Americans, support for affirmative action is at 59%, the lowest within the Asian American community. This also means that they themselves haven’t experienced the benefits of affirmative action or education equity policies, Niu said. Top American universities, however, use a “holistic” admissions process in which affirmative action policies allow them to take race into account. Asian Americans do face discrimination in our society, in our education systems, but they’re not the result of race-conscious policies like affirmative action,” Chen said.

☆ Taylor Swift makes the top 10 spots of the Billboard Hot 100 all her own
▼ + stars: | 2022-10-31 | by ( Dan Heching | ) edition.cnn.com time to read: +1 min

CNN —Taylor Swift is breaking yet another record thanks to the release of her most recent album “Midnights.”The entertainer, who already became Spotify’s most-streamed artist over a 24-hour period upon the release of the record earlier this month, now claims all top ten slots of the Billboard Hot 100 at the same time, according to the music charting website on Monday. Swift is the first artist to ever accomplish the feat in Billboard’s 64-year history. She beat Drake, who in September 2021 claimed nine of the Hot 100’s top 10 spots for a week. According to Billboard, the Hot 100 list “blends all-genre U.S. streaming (official audio and official video), radio airplay and sales data.”At the top of the list this week is “Anti-Hero,” the lead single off of “Midnights,” which is Swift’s tenth studio album. The other nine slots are also claimed by songs from the new album, including the tracks “Lavender Haze” and “Karma.”The accomplishment gives Swifties yet another reason to rejoice, adding yet another bauble to their beloved artist’s “bejeweled” crown.

☆ Premarket stocks: Don't be fooled by a strong GDP report
▼ + stars: | 2022-10-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

That’s why it’s so surprising that the US economy is expected to show robust growth in Thursday’s third-quarter GDP report. Economists warn that the report could be a one-hit-wonder that overstates momentum in an economy that is actually slowing. “There is more braking power being inflicted on the US economy than will be at all apparent in the third-quarter GDP report,” wrote Kelly. Central bank officials are going to be looking at underlying metrics in the report, and will likely ignore headline numbers, said Patterson. The bottom line: The rejiggering of trade balances often falsely inflates economic growth calculations ahead of a recession.

Splunk makes software used by companies’ information-technology and security operations to monitor threats and analyze data. Activist investor Starboard Value LP has a sizable stake in Splunk and plans to push the software maker to take action to boost its stock price, according to people familiar with the matter. Starboard’s stake is just under 5%, the people said. The hedge fund often targets software companies that could benefit from operational and margin improvements or be attractive takeover targets.

☆ Kanye West canceled? Here’s why it probably won’t happen
▼ + stars: | 2022-10-15 | by ( Lisa Respers France | ) edition.cnn.com time to read: +5 min

CNN —Kanye West has had so many controversies you may have forgotten a few. The latest calls to cancel West, who legally changed his name to Ye, may be the most intense yet. for America founder Brigitte Gabriel tweeted her support for West, one of her followers responded, “I used to judge him quite harshly. There were calls to boycott West in 2018 after comments he made about the history of slavery in the United States. There have been several other controversies since that have not stopped West from achieving mass success with his fashion and sneaker lines.

☆ Man says LGBTQ people 'deserve death' at school board meeting in Arkansas
▼ + stars: | 2022-10-13 | by ( Zachary Schermele | ) www.nbcnews.com time to read: +3 min

A man was recorded on video Tuesday night saying LGBTQ people “deserve death” during a school board meeting in Arkansas where several anti-LGBTQ policies were passed. The video was recorded by a person attending the meeting and verified by NBC News. “While the Conway School Board appreciates the insight and perspectives given in these comments, the personal narratives of individual patrons do not represent the school district or school board’s feelings or stances on issues.”The school board approved anti-transgender policies and bans on two books with LGBTQ themes at the meeting. Minutes from a meeting last month show at least one board member agreed with challenges to remove the books. “Tonight the Conway School Board voted to ban books — and worse — to single out students for unfair treatment,” the group tweeted.

☆ P&G faces challenge to CEO Moeller as chairman from environmentalists, investors
▼ + stars: | 2022-10-10 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +3 min

Boxes of Tide detergent, a Procter & Gamble product, sit on a shelf at a store in Alexandria, May 28, 2009. Register now for FREE unlimited access to Reuters.com RegisterThe groups request replacing Moeller with an independent chair. Norway's sovereign wealth fund also plans to vote against Moeller, according to a voting notice on its website. Institutional Shareholder Services Inc and Glass Lewis, firms that make widely-followed recommendations on voting for investors, said shareholders should support Moeller and the two directors. ISS said investors should take caution when supporting Moeller and the directors because of "ongoing concerns" regarding deforestation.

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