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☆ Cough syrup deaths overseas prompt US crackdown on toxic testing
▼ + stars: | 2023-09-26 | by ( Patrick Wingrove | ) www.reuters.com time to read: +6 min

Defendants and lawyers attend a court hearing in the case of child deaths linked to contaminated cough syrups, in Tashkent, Uzbekistan August 16, 2023. Cough syrups made in India and Indonesia have been linked to deaths of more than 300 children globally. The medicines were found to contain high levels of DEG and EG, leading to acute kidney injury and death. IMPORT ALERTSThe FDA warning letters give manufacturers an opportunity to fix quality control problems or face penalties. In addition, 13 U.S. makers of consumer products like earwax removers, nasal spray, hand soap and shampoo, including Lex, were threatened with possible seizures and injunctions by the FDA.

Persons: Stringer, Paul Hastings, Peter Lindsay, syrups, Lex, Charlene Paz, Greg Landry, Patrick Wingrove, Rishika, Joyce Lee, Michele Gershberg, Bill Berkrot Organizations: REUTERS, U.S, FDA, Drug Administration, EG, Reuters, South, South Korea's LCC, LCC, Daxal Therapeutics, Herbals, South Korea’s KM Pharmaceutical, Sangleaf Pharma, Massachusetts College of Pharmacy & Health Sciences, Thomson Locations: Tashkent, Uzbekistan, U.S, India, South Korea, Switzerland, Canada, Egypt, Washington ,, Indonesia, United States, Florida, South Korea's, South, New York, Rishika Sadam, Hyderabad, Seoul

Two days later, the man was cracking jokes and able to sit in a chair, Maryland doctors said Friday. “You know, I just keep shaking my head – how am I talking to someone who has a pig heart?” Dr. Bartley Griffith, who performed the transplant, told The Associated Press. “It’s just an amazing feeling to see this pig heart work in a human,” said Dr. Muhammad Mohiuddin, the Maryland team’s xenotransplantation expert. That FDA allowed this second case “suggests that the agency is not ready to permit a pig heart clinical trial to start,” Mashke added. The pig heart, provided by Blacksburg, Virginia-based Revivicor, has 10 genetic modifications – knocking out some pig genes and adding some human ones to make it more acceptable to the human immune system.

Persons: –, “, ” Lawrence Faucette, Dr, Bartley Griffith, David Bennett, Ann Faucette, ”, Faucette, “ It’s, Muhammad Mohiuddin, Karen Maschke, ” Mashke Organizations: WASHINGTON, — Surgeons, Navy, University of Maryland Medicine, Associated Press, Maryland, Food and Drug Administration, FDA, National Institutes of Health, Maryland team’s, Hastings Center, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Department of Science Education, AP Locations: Maryland, Frederick , Maryland, U.S, Blacksburg , Virginia

Texas Attorney General Ken Paxton’s impeachment trial on corruption allegations is among several such proceedings that have occurred in U.S. history. In Texas, an impeachment charge from the House results in immediate suspension from office, as is the case for Paxton. The state Senate voted in 2011 to pardon him, but the House failed to concur. STATE ATTORNEYS GENERALPaxton has company as an impeached state attorney general. — South Dakota Republican Attorney General Jason Ravnsborg was impeached and convicted in 2022 for his involvement in a 2020 crash in which the car he was driving hit a pedestrian.

Persons: Ken Paxton’s, impeaches, Paxton, Joe Biden, Andrew Johnson, Abraham Lincoln's, Edwin Stanton, Bill Clinton, Monica Lewinsky, Paula Jones, —, — Republican Donald Trump, Trump, Evan Mecham of, William Holden of, Rod Blagojevich, Barack Obama, GENERAL Paxton, Jason Ravnsborg, Roland Boyton, William French, Alcee Hastings, Charles L, Crum of Montana, Jennifer Farrar Organizations: GOP, Democratic, U.S, Senate, Radical Republicans, — Republican, GOVERNORS, Republican Gov, — Republican Gov, GENERAL, — South, — South Dakota Republican, Republican, District, Montana Senate, AP statehouse Locations: Texas, U.S, Austin, Evan Mecham of Arizona, William Holden of North Carolina, Illinois, —, — South Dakota, — In Kansas, Paxton , Texas, Florida, Montana, New York

It marked the longest a genetically modified pig kidney has ever functioned inside a human, albeit a deceased one. “Two months is a lot to have a pig kidney in this good a condition. Political Cartoons View All 1160 ImagesSo-called xenotransplantation attempts have failed for decades — the human immune system immediately destroyed foreign animal tissue. Montgomery gambled that maintaining Miller's body on a ventilator for two months to see how the pig kidney worked could answer some of those questions. She recently got a card from a stranger in California who's awaiting a kidney transplant, thanking her for helping to move forward desperately needed research.

Persons: gurney, Maurice “ Mo ” Miller, “, Dr, Robert Montgomery, Montgomery, ”, Mary Miller, Duffy, Miller, ” Miller, Sue Duffy, Montgomery’s, immunologist Massimo Mangiola, Jeffrey Stern, Karen Maschke, Mangiola Organizations: NYU Langone, Food and Drug Administration, Associated Press, University of Maryland, FDA, NYU, Hastings Center, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Newburgh , New York, California

☆ Stocks making the biggest moves premarket: Enbridge, Roku, GitLab and more
▼ + stars: | 2023-09-06 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Roku also lifted its third-quarter revenue guidance, saying it now expects revenue to range between $835 million and $875 million, versus prior guidance of $815 million. Along with the workforce reductions, Roku said it plans to consolidate office space and review its content slate to trim expenses. Zscaler posted adjusted earnings of 64 cents per share while analysts polled by LSEG, formerly known as Refinitiv, expected 49 cents. Additionally, the cybersecurity company said earnings and revenue should come in ahead of what analysts anticipate in the current quarter. GitLab — Shares of the technology platform jumped 6.5% in premarket trading following a strong second-quarter report postmarket Tuesday.

Persons: Roku, Zscaler, Needham, GitLab, LSEG, Asana, AeroVironment, Sam Subin, Michelle Fox Theobald, Jesse Pound Organizations: LSEG, Revenue, Dominion Energy, Dominion, UBS, Southwest Airlines —, Southwest, Novo Nordisk — Locations: Hastings, Hudson , New York, Enbridge, Dallas, Danish, Europe

☆ Netflix will allow customers to keep physical DVDs and get 10 more free before the company completely shuts down its rental service
▼ + stars: | 2023-08-27 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +2 min

Netflix is shutting down its physical DVD rental service on September 29. The company announced that it will allow customers to keep any unreturned discs. AdvertisementAdvertisementNetflix will allow customers to keep its DVDs as the company winds down its physical disc rental operation after 25 years in service. AdvertisementAdvertisementBy the way, a happy clarification in response to all the news headlines out there:We are not charging for any unreturned discs after 9/29. Since it began its popular DVD-by-mail service in 1998, Netflix has mailed more than 5.2 billion physical discs, the company said.

Organizations: Netflix, Morning Locations: DVD.com

The 44-year-old man was surfing near Lighthouse Beach, Port Macquarie when a shark launched a “sustained and prolonged attack,” New South Wales (NSW) police said in a statement. Police said a bystander applied a tourniquet before paramedics transferred the surfer to Port Macquarie Hospital in critical condition. “[He is in] a serious condition with life threatening injuries, sustained from the lower leg injuries, and also significant blood loss,” NSW Police Chief Inspector Martin Burke said. Australia ranked behind only the United States in the number of unprovoked shark encounters with humans last year, according to the Florida Museum’s International Shark Attack File. According to the Australian Shark Incident Database, there were 10 shark encounters in New South Wales in 2022, resulting in seven injuries and one death.

Persons: Martin Burke, “ Organizations: CNN, 9News, Police, Port Macquarie Hospital, ” NSW Police, Port Macquarie, Facebook, Department of Primary Industries, Fisheries, Life, NSW, Australia, Florida, Australian, Incident Locations: Lighthouse Beach, Port Macquarie, New South Wales, NSW, United States

This, regulators say, makes it harder for banks to cut costs and absorb losses in a downturn. But many bankers are expected to resist swapping guaranteed pay for potentially higher bonuses, which can swing wildly across economic cycles. UK Finance, the industry body for banks in Britain, did not respond to the public consultation, leaving individual members to comment if they wanted to. Others warned against overplaying the significance of bonuses in Britain's battle to grow its financial sector, still reeling from the loss of big-ticket listings, such as Arm Holdings. "Compensation is a small point in the grand scheme of things of a vibrant financial sector.

Persons: Toby Melville, Luke Hildyard, there'll, Suzanne Horne, Paul Hastings, Horne, Simon Patterson, Edelmann, Oliver Wyman, Sinead Cruise, Huw Jones, Tomasz Janowski Organizations: City of, Regulators, European Union, Bank of England, Financial, Bankers, Reuters, European Banking Authority, International Employment, Britain, EU, Finance, Arm Holdings, Thomson Locations: City, City of London, Britain, Banks, European, New York, Singapore, EU, Paris, Frankfurt, United States, Japan, Switzerland, London, Europe

☆ Great Barrier Reef stays off UNESCO ‘in danger’ list but hot El Niño summer looms
▼ + stars: | 2023-08-01 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +7 min

“A lot of climate scientists are shocked by the fact that it wasn’t put on the list,” Kimberley Reid from the ARC Centre of Excellence for Climate Extremes and Monash University told CNN. Covering nearly 133,000 square miles (345,000 square kilometers), the Great Barrier Reef is home to more than 1,500 species of fish and 411 species of hard corals. Environment minister Tanya Plibersek told reporters Tuesday she made no apology for lobbying UNESCO to keep the Great Barrier Reef off the “in danger” list. Bleaching events and global warming have done significant damage to the Great Barrier Reef. Tourists, divers and marine biologists enter and exit the waters of the Great Barrier Reef on August 10, 2022 on Hastings Reef, Australia.

Persons: El, wasn’t, Kimberley Reid, I’m, ”, Reid, Tanya Plibersek, Michael Robinson Chavez, ” Plibersek, that’s, Terry Hughes, El Niño, ” Hughes, David Booth, government’s, “ Will, Booth, Jodie Rummer, “ That’s Organizations: Australia CNN —, UNESCO World Heritage, ARC Centre, Excellence, Extremes, Monash University, CNN, “, Heritage, UNESCO, Labor, Washington Post, Coral Reef, James Cook University, Australian, of Meteorology, Oceanic Atmospheric Administration, World Meteorological Organization, UTS, Reef Society, Federal Government Locations: Brisbane, Australia, Paris, Hastings Reef

☆ With quarterly beat, Procter & Gamble flexes its ability to win in any economy
▼ + stars: | 2023-07-28 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Procter & Gamble (PG) showed once again its ability to raise prices on its many household staples without damaging sales volume — one of the key reasons to own this stock in an uncertain economic environment. The company also delivered organic growth in all product categories and across all geographies in which it operates. Foreign exchange was a 3 percentage point headwind not reflected in organic growth. At the company level, the team has now notched seven straight quarters of 5% or better organic sales growth. Notably, all 10 major product categories posted organic sales growth in the quarter, with five growing double digits.

Persons: Gillette —, it's, Jim Cramer's, Jim Cramer, Jim, Proctor, Tiffany Hagler Organizations: Procter, Gamble, Tide, Management, Enterprise, CNBC, Gamble Co, Geard, Bloomberg, Getty Locations: buybacks, U.S, China, Europe, America, Hastings, Hudson , New York

☆ Disney CEO Bob Iger called Hollywood strikers 'not realistic.' His critics are calling his $27 million pay package unrealistic.
▼ + stars: | 2023-07-22 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +5 min

Disney CEO Bob Iger recently called strikers' expectations "not realistic," quickly drawing criticism. Iger could make over $27 million this year, 535 times the median pay of his employees. An average CEO in 1978 made around 31 times what their average worker made, according to the Economic Policy Institute. In 2020, the average CEO made 346 times what their average worker made. At Disney, the median worker pay is $54,256, according to the company's latest proxy statement.

Persons: Bob Iger, Sean Gunn, Fran Drescher, Iger, Gunn, Drescher, Sen, Bernie Sanders, he'd, Variety, David Zaslav, Reed Hastings, Brian Roberts Organizations: Disney, SAG, Morning, Hollywood, CNBC, Sun Valley Conference, Writers Guild of America, Guardians, Economic, Warner Bros, Netflix, Comcast Locations: Idaho, Los Angeles

☆ Netflix’s cash gun starts to whir
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, July 19 (Reuters Breakingviews) - Netflix (NFLX.O) is putting out some programming worthy of more eyeballs. But its forecast on free cash flow – once a horror flick– shows that the business is only getting stronger. The revenue outlook for the third quarter of $8.5 billion is below analysts’ estimates of $8.7 billion, according to Refinitiv. Netflix raised its outlook for free cash flow this year to at least $5 billion from approximately $3.5 billion. At a time when high interest rates make greenbacks more expensive, and competitors Walt Disney (DIS.N) and Warner Bros Discovery (WBD.O) are squirming, Netflix’s cash story is one to watch.

Persons: Reed Hastings, Walt Disney, Jennifer Saba, Gucci, Xavier Niel’s, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Netflix, Hollywood, Warner Bros Discovery, Twitter, Xavier Niel’s GAM, Commonwealth Games, Thomson

☆ Netflix gets rid of cheapest basic ad-free option in the U.S., U.K.
▼ + stars: | 2023-07-19 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Netflix has gotten rid of its cheapest commercial-free plan in the U.S. and the U.K., in a push to get more sign-ups for its recently launched ad-supported option. The move leaves Netflix's standard with ads plan, which is priced at $6.99 a month, as its cheapest option. During last quarter's earnings call, Netflix Chief Financial Officer Spencer Neumann said the "economics" of its ad-supported plan were higher than the basic plan. "It's actually even higher than our standard plan," he said during the call, adding that advertising was incremental to both its revenue and profit. Similarly, Disney CEO Bob Iger has said the company is leaning into its ad-supported streaming option to get to profitability.

Persons: Spencer Neumann, It's, Reed Hastings, Ted Sarandos, Bob Iger Organizations: Netflix, Disney Locations: Krakow, Poland, U.S

July 10 (Reuters) - Morgan Stanley (MS.N) has hired senior investment banker Marco Caggiano from JPMorgan Chase & Co (JPM.N), where he led the bank's North America mergers and acquisitions (M&A) business, people familiar with the matter said on Monday. Caggiano, a veteran investment banker who spent 23 years with JPMorgan, will join Morgan Stanley as vice chairman of M&A, the sources said. JPMorgan and Morgan Stanley declined to comment. Caggiano trained as a lawyer and worked at Paul Hastings before he joined JPMorgan. He was co-head of North America M&A before Chris Roop, his other co-head, exited JPMorgan last year to join Jefferies Financial Group Inc (JEF.N).

Persons: Morgan Stanley, Marco Caggiano, Caggiano, Elon Musk, Paul Hastings, Chris Roop, Svea Herbst, Bayliss, Anirban Sen, Greg Roumeliotis Organizations: JPMorgan Chase &, JPMorgan, Twitter Inc, Elon, Zynga, Hasbro Inc, Alta Fox, Jefferies Financial Group Inc, Svea, Thomson Locations: America, Rhode Island, New York

☆ Law firm Paul Hastings extends hiring streak with Goodwin partner pair
▼ + stars: | 2023-07-06 | by ( Chinekwu Osakwe | Thomson Reuters | Chinekwu Osakwe Covers Legal Industry News With A Focus On Midsize Law Firms. Reach Her At Chinekwu.Osakwe Thomsonreuters.Com. | ) www.reuters.com time to read: +2 min

(Reuters) - U.S. law firm Paul Hastings said Thursday that it has hired two partners from rival Goodwin Procter as practice leaders in New York and Washington, D.C.Seo Salimi is departing Goodwin after more than eight years to co-lead Paul Hastings' equity capital markets and corporate life sciences practices in New York. His clients have included Karuna Therapeutics, CRISPR Therapeutics, Goldman Sachs and J.P. Morgan Securities, according to his former profile on Goodwin's website. Salimi is joining Paul Hastings along with Sean Donahue, who will chair the firm's public company advisory practice group and co-chair its shareholder activism and takeover defense group. The Los Angeles-founded firm has hired at least 24 partners globally since January. Read more:Law firm Goodwin taps new Silicon Valley-based chairPaul Hastings team takes Latin America-focused deal practice to Baker McKenzieOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Hastings, Goodwin Procter, Seo Salimi, Goodwin, Salimi, Goldman Sachs, J.P, Sean Donahue, Donahue, Dana Syracuse, Perkins Coie, Kenneth Deutsch, Latham & Watkins, Baker McKenzie Organizations: Reuters, . Securities, Exchange Commission, Karuna Therapeutics, CRISPR Therapeutics, Morgan Securities, Washington , D.C, of Corporation Finance, Latham &, Latin, Thomson Locations: New York, Washington, Washington ,, SEC's, Los Angeles, Boston, Latin America

Traditional travel insurance won’t swoop in with paramedics, even though it typically covers the cost of an emergency. Dan Richards, the chief executive of Global Rescue, told DealBook that he wanted to fill that gap when he founded the emergency travel management company in 2004. Travel insurance is going to space. The space travel insurance market is still small, but Lloyd’s of London, which insures space businesses, began underwriting space travel insurance in 2021, and last year the Japan Aerospace Exploration Agency and Mitsui Sumitomo Insurance said they would jointly develop space insurance offerings. The cost of search and rescue typically falls on state and local agencies, Ms. Hastings said.

Persons: Dan Richards, DealBook, ”, SkyMed, Hastings, that’s, Ms, “, Mr, Richards, — Ephrat Livni Organizations: Global, AirMed, Virgin Galactic, UBS, Japan Aerospace Exploration Agency, Mitsui Sumitomo Insurance, Coast Guard, Global Rescue Locations: London, Japan, Hawaii, Utah, United States

Compare Affinity Plus Federal Credit Union products Affinity Plus Federal Credit Union Membership Savings AccountAffinity Plus Federal Credit Union Better Than Free Checking AccountAffinity Plus Federal Credit Union Basic CertificateAffinity Plus Federal Credit Union Superior Money Market Account Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Affinity Plus Federal Credit Union Basic Certificate ReviewAffinity Plus Federal Credit Union Basic Certificate 4.25 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Annual Percentage Yield (APY) 0.30% to 4.25% Minimum Deposit Amount $500Affinity Plus Federal Credit Union Basic Certificate 4.25 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Annual Percentage Yield (APY) 0.30% to 4.25% Minimum Deposit Amount $500 View Full DetailsAffinity Plus Federal Credit Union Basic Certificate Affinity Plus Federal Credit Union, NCUA insured. Affinity Plus Federal Credit Union Superior Money Market Account Start banking Affinity Plus Federal Credit Union, NCUA insured. Affinity Plus Federal Credit Union FAQsWhere are Affinity Plus Federal Credit Union locations? How Affinity Plus Federal Credit Union ComparesAffinity Plus Federal Credit Union vs. Premier Members Credit UnionPremier Members Credit Union has 17 branches in Colorado.

Persons: It's, Anthony, Paul, We'll, Sallie Mae Sallie Mae, Sallie Mae, Sallie Mae doesn't Organizations: Affinity, Federal Credit Union, Federal Credit, Chevron, Foundation, Union's, Reading Chevron, Federal Credit Union Affinity, Google, Apple, Affinity Plus Federal Credit Union, Affinity Plus, State of, University of Minnesota Twin, Minnesota State, Minnesota State University, Mankato, Moorhead, Bemidji State University, Metropolitan State University, Southwest Minnesota State University, St, Cloud State University, Winona State University, University of Minnesota, Affinity Plus Federal, Federal, our Affinity, Finance, Premier, Credit Union Premier Members Credit Union, Credit Union, Premiers Credit Union, Members Credit Locations: Chevron, Minnesota, The Minneapolis, Nicollet, State of Minnesota, University of Minnesota Twin Cities, State, Bemidji, Twin Cities, Arden Hills, Minneapolis, Mounds View , New Brighton, Roseville, Shoreview, St, Alexandria, Cloud, Coon Rapids , Cambridge, New Hope, Brainerd Lakes, Roseville , Minneapolis, Paul, Eagan, Lakeville, Hastings, Mankato, Faribault, Fergus Falls, Grand Rapids , Rochester , Duluth, Mahnomen, Moorhead, Winona, Colorado

☆ Inside Netflix's growing M&A machine, who's leading it, and what insiders think the streamer could buy next
▼ + stars: | 2023-06-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

It then delved further into M&A to kickstart its games business. And the streamer hasn't completely abandoned its build-from-within strategy, as it also announced plans last fall to build its own gaming studio in Finland. He recently was elevated to the Lstaff, a group of 25 Netflix business heads who debate its biggest initiatives. (Netflix ended up doing a partnership in 2019 with that company, Studio Dragon, and its parent CJ ENM.) But leadership has been steadfast that Netflix's M&A mantra hasn't changed.

Persons: Here's, Reed Hastings, It's, it's, who's, what's, Roald Dahl, Dahl, Peter Rabbit, Spry, Harry Potter, execs, Spencer Wang, Michael Porter, Spencer Neumann, who'd, Neumann, Wang, Greg Peters, Ted Sarandos, Bela Bajaria, Scott Stuber, Mike Verdu, Jay MacDonald, Digiday, Ana Milicevic, Hastings, Sarandos, CJ ENM, Mario Organizations: Netflix, stoke, Paramount, Night School, Spry Fox, Disney, Warner Bros, DC Comics, Digital Capital Advisors, MLB, Surf League, Street Journal, Microsoft, Sparrow Advisers, MGM, Amazon, Mario Bros, Activision Blizzard, Epic Games, UBS Locations: Finland, New Jersey, Hollywood

The judge had ruled that Williams failed to claim that he would not have been fired but for his race. Tech Mahindra's U.S. subsidiary has more than 5,000 employees and 90% of them are South Asian, according to filings in the case. The case is Williams v. Tech Mahindra Americans Inc, 3rd U.S. Circuit Court of Appeals, No. For Williams: Mark Hammervold of Kotchen & LowFor Tech Mahindra: Kenneth Gage of Paul HastingsOur Standards: The Thomson Reuters Trust Principles.

Persons: Lee Williams, Williams, Brian Martinotti, Martinotti, Peter Phipps, Joseph Greenaway, Cheryl Krause, Mark Hammervold, Kenneth Gage, Paul Hastings Organizations: South, IT, Tech Mahindra Ltd's, U.S, Circuit, Appeals, Tech Mahindra, Lawyers, Civil, Tech Mahindra's, District, . Tech Mahindra Americans Inc, Low, Paul Hastings Our, Thomson Locations: New Jersey, North Dakota, Newark

☆ Netflix investors voted 3-to-1 against hefty pay packages for top execs including co-CEOs Greg Peters and Ted Sarandos
▼ + stars: | 2023-06-09 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

Netflix shareholders on June 1 voted against pay packages for top execs totaling up to $109 million. The WGA had urged Netflix investors to reject the pay packages amid the Hollywood writers' strike. Netflix shareholders voted on June 1 by a nearly three-to-one margin against rich 2023 pay packages for the company's top executives, according to a recent company filing. Amid the ongoing Hollywood writers' strike, the Writers Guild of America had called on Netflix investors to reject this year's executive pay raises. The prelim ary results of the advisory vote were in favor of the executive pay plan, the company announced the day of the meeting.

Persons: Ted Sarandos, Greg Peters, Reed Hastings, Meredith Stiehm, Peters Organizations: Netflix, WGA, Hollywood, Morning, Writers Guild of America, Hastings, Comcast

SummarySummary CompaniesCompanies Law Firms Realtek said MediaTek used patent lawsuits to stifle businessAccused chipmaking rival of antitrust violationsJune 6 (Reuters) - Realtek Semiconductor Corp (2379.TW) sued rival Taiwanese chipmaker MediaTek Inc (2454.TW) in Northern California federal court on Tuesday, claiming MediaTek paid a company that sues over patents a "secret litigation bounty" to file meritless lawsuits in the United States to disrupt its business. Realtek said MediaTek signed a patent licensing agreement with IPValue subsidiary Future Link Systems LLC in 2019 that included the secret "bounty" agreement. Realtek said Future Link has kept details of the agreement "buried under confidentiality obligations and protective orders." Future Link settled several other patent cases against tech companies including MediaTek competitor Amlogic soon after the ITC criticized it, Realtek said. The case is Realtek Semiconductor Corp v. MediaTek Inc, U.S. District Court for the Northern District of California, No.

Persons: Realtek, MediaTek, IPValue, Amlogic, Rudy Kim, Michael Murray, Nafeesah, Paul Hastings, Steven Baik, Blake Brittain Organizations: Realtek Semiconductor Corp, MediaTek, IPValue Management Inc, Link Systems, U.S . International Trade Commission, ITC, MediaTek Inc, Northern, Northern District of, White, Thomson Locations: Northern California, United States, West Texas, Northern District, Northern District of California, Washington

☆ Meet Netflix's elite 'Lstaff' — the 25 top execs who help make the company's biggest decisions, from its push into advertising to its gaming expansion
▼ + stars: | 2023-06-02 | by ( Lucia Moses | Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Netflix has a top team of business leaders who debate and drive the company's biggest decisions. This "Lstaff" includes co-CEOs Greg Peters and Ted Sarandos plus execs leading new areas like gaming and ads. When Netflix is faced with a big, agenda-setting decision, it convenes a special team of business heads to debate the issue at hand. This group, which numbers 25, has helped shape major company moves like its expansion into mobile games and advertising. Scroll down to read about the people on Netflix's Lstaff, listed in alphabetical order, and the perspective each brings.

Persons: Greg Peters, Ted Sarandos, —, Reed Hastings, Bela Bajaria, Scott Stuber, Kim —, Vernā Myers, Jeremi Gorman, Mike Verdu, Spencer Wang Organizations: Netflix, New Zealand Locations: Korea, Japan, Southeast Asia, Australia, New

☆ Netflix shareholders reject sky-high executive pay packages
▼ + stars: | 2023-06-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Netflix shareholders voted on Thursday to reject multi-million dollar pay packages for the company’s top executives including for co-CEOs Ted Sarandos and Greg Peters. Frederic J. Brown/AFP/Getty ImagesNetflix’s proposed executive pay packages for 2023 included up to $40 million for Sarandos, including base salary, a performance bonus and stock options. Netflix’s board, meanwhile, is able to disregard the results of this “say on pay” vote and approve executive compensation plans in spite of shareholder wishes. The board has already unanimously recommended voting for the pay packages. Last year, just 27% of Netflix shareholders approved of 2022 executive compensation packages.

Persons: Ted Sarandos, Greg Peters, ”, Meredith Stiehm, Frederic J . Brown, Peters, Reed Hastings, Spencer Neumann, David Hyman, Rachel Whetstone Organizations: New, New York CNN, Netflix, Writers Guild of America, Hollywood, WGA, Guild of America, Comcast, Getty, Securities and Exchange Commission Locations: New York, Hollywood , California, AFP

☆ Netflix shareholders withhold support for executive pay package
▼ + stars: | 2023-06-02 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

June 1 (Reuters) - Netflix Inc (NFLX.O) shareholders on Thursday withheld their support for the company's executive pay package, in a non-binding vote that followed a call by striking Hollywood writers to reject the proposed 2023 compensation. "While investors have long taken issue with Netflix's executive pay, the compensation structure is more egregious against the backdrop of the strike," wrote Writers Guild West President Meredith Stiehm. Netflix shareholders withheld support for the executive compensation structure for 2023, in a non-binding "say on pay" vote. Last year, the company's executive pay package won support from just 27% of the shareholder votes cast. After last year's vote, Netflix said it made changes including instituting a salary cap for its co-chief executives and a performance-based bonus plan.

Persons: Guild of America West, Meredith Stiehm, Stiehm, Reed Hastings, Ted Sarandos, Greg Peters, Peters, Ari Emanuel, David Zaslav, Dawn Chmielewski, David Gregorio, Christopher Cushing Organizations: Netflix Inc, Guild of America, Guild West, Comcast Corp, Netflix, Hollywood, Endeavor, Warner Bros Discovery, Alliance, Television Producers, SAG, Thomson Locations: Los Angeles

☆ Netflix investors voted against rich pay packages for the company's top execs amid the ongoing Hollywood writers' strike
▼ + stars: | 2023-06-02 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Netflix shareholders on Thursday voted against pay packages for top execs totaling up to $109 million. The WGA had urged Netflix investors to reject the pay packages amid the Hollywood writers' strike. Netflix shareholders on Thursday voted against executive pay packages totaling up $109 million for the company's top leaders, several outlets including the New York Times reported. Amid the ongoing Hollywood writers' strike, the Writers Guild of America had called on Netflix investors to reject this year's executive pay raises. Last year, only 26.9% of voted shares approved the pay packages for Netflix's top executives, which led the company to hold discussions with investors, according to the annual proxy statement.

Persons: Ted Sarandos, Greg Peters, Reed Hastings, Meredith Stiehm, Peters Organizations: Netflix, WGA, Hollywood, Morning, New York Times, Writers Guild of America, Hastings, Comcast

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