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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Interest rate-sensitive megacaps, led by Amazon.com (AMZN.O), Nvidia Corp (NVDA.O), Apple Inc (AAPL.O) and Alphabet Inc (GOOGL.O) dragged the S&P 500 and the Nasdaq to their lowest closing levels since June. "It gives people another chance to say that the lag time of higher rates – which we're just starting to feel – might really bite." All 11 major sectors of the S&P 500 lost nearly 1% or more, with real estate stocks (.SPLRCR) suffering its biggest one-day percentage drop since March. The S&P 500 posted three new 52-week highs and 29 new lows; the Nasdaq Composite recorded 22 new highs and 373 new lows.
Persons: Brendan McDermid, Jerome Powell, dampening, Thomas Martin, we're, , Martin, Rupert Murdoch, Stephen Culp, Ankika Biswas, Shristi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Treasury, Amazon.com, Nvidia Corp, Apple Inc, Inc, UAW, Dow Jones, . Semiconductor, SOX, Klaviyo Inc, Arm Holdings, Fox Corp, News Corp, NYSE, Thomson Locations: New York City, U.S, Atlanta, Philadelphia, New York, Bengaluru
[1/3] Then Newscorp chairman Rupert Murdoch and son Lachlan Murdoch in the crowd before Super Bowl LI at NRG Stadium in Houston, Texas, U.S., February 5, 2017. In 1999, Lachlan Murdoch assumed responsibility for print operations in the U.S. Lachlan Murdoch founded Illyria Pty, a private investment company, whose acquisitions included a network of Australian radio stations. The newly constituted Fox was reduced to a handful of assets, including the Fox broadcast network, Fox News, Fox Sports and Fox Business, with Lachlan Murdoch serving as its executive chair and chief executive officer. While Rupert Murdoch built his legacy pursuing the television, movie and newspaper businesses with equal abandon, Lachlan’s legacy is still taking shape.
Persons: Rupert Murdoch, Lachlan Murdoch, Robert Deutsch, Murdoch, Rupert Murdoch’s, Anna, Australian Broadcasting Corporation’s, Paddy Manning’s, , Lachlan, James, Dalton, Manning, Walt Disney, Brother James Murdoch, Lachlan Murdoch doesn’t, Chris Mitchell, , Fox, Donald Trump, Dawn Chmielewski, Helen Coster, Kenneth Li, Nick Zieminski Organizations: News Corp, Fox Corp, Wall Street Journal, Fox News, Sun, Fox Sports, Fox Entertainment, Australian Broadcasting, New, New York Post, The New York Times, Daily News, Wall Street, San Antonio Express, Monopoly, Trinity School, Trinity Conservative Society, News, New York, Century Fox, Walt, Fox, Fox Business, Disney, New York Times, Dominion Voting Systems, Thomson Locations: NRG, Houston , Texas, U.S, Australia, United States, London, New York, Princeton, Illyria, Los Angeles
His son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition solidifies Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. Lachlan was appointed CEO of the new Fox Corp. Murdoch controls News Corp and Fox Corp through a Reno, Nevada-based family trust that holds a roughly a 40% stake in voting shares of each company. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.
Persons: Rupert Murdoch, Rafael Nadal, Kevin Anderson of, Mike Segar, Lachlan Murdoch, Murdoch, Lachlan, Fox, Brian Wieser, James, Chloe, Grace, Wendi Deng, Jonathan Miller, Sumner Redstone, Ted Turner, John Malone, Miller, Helen Coster, Aditya Soni, Dawn Chmielewski, Krishna Chandra Eluri, Saumyadeb Chakrabarty, Nick Zieminski Organizations: Fox News, Fox Corp, News Corp, Fox, Dominion, Systems, Wall, Walt Disney Co, Lupa Systems, Corp, Thomson Locations: York, U.S, Kevin Anderson of South Africa, Australia, United States, American, Reno , Nevada, London, New York, Bengaluru, Dawn, Los Angeles
Over the years, Murdoch's family has also risen into the spotlight — accompanied by stories of vindictive business tactics and inter-family rivalries. WHO IS LACHLAN MURDOCH? Lachlan has been CEO for Fox Corp. since 2019, following Disney's acquisition of 21st Century Fox. Lachlan rose to executive ranks of the family business, then known collectively as News Corp, in the 1990s and early 2000s. James Murdoch is Lachlan's younger brother, also among the children from their father's second marriage.
Persons: Rupert Murdoch, Lachlan, Murdoch, Australia —, James, Elisabeth, Prudence, ” Murdoch, LACHLAN MURDOCH, Lachlan Murdoch, Anna, , Fox's, Roger Ailes, JAMES MURDOCH, James Murdoch, James —, ” James, Murdochs, ELISABETH MURDOCH, Elisabeth Murdoch, Murdoch's, PRUDENCE MURDOCH MACLEOD, Prudence Murdoch MacLeod, Patricia, Prudence didn’t, CHLOE MURDOCH, Grace, Chloe Murdoch, Rupert Murdoch’s, Wendi Deng, Chloe, Kathryn Murdoch Organizations: — Media, Monday, Fox News, News Corp, HBO, Fox Corp, Fox, Century Fox, Fox Television, New York, CNN, Illyria Pty, WHO, News . Corp, Street Journal, Harvard University, Rawkus Records, Star India, Sky, British Sky Broadcasting, Sky Networks, Shine, Endemol, Times Newspapers, News UK, Yale University, Stanford University, AP Locations: Adelaide, Australia, U.S
Sept 21 (Reuters) - Media mogul Rupert Murdoch, 92, has stepped down as the chairman of Fox Corp (FOXA.O) and News Corp (NWSA.O), ending a more than seven-decade career in which he created an empire spanning from Australia to the United States. His son, Lachlan Murdoch, will become the chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition cements Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. His son Lachlan Murdoch is seasoned and capable of running the business, but of course there's no replacement for someone like the chairman, Rupert Murdoch, who founded the company and built it over decades." "The media world is unrecognisable from the one he stepped into seventy years ago and the decision to scrap plans to reunite his empire must have smarted."
Persons: Rupert Murdoch, Lachlan Murdoch, Murdoch, BRIAN WIESER, Lachlan, MICHAEL ASHLEY SCHULMAN, Smartmatic, Rupert Murdoch's, JASON BENOWITZ, I'm, DANNI HEWSON, AJ BELL, he's, Mary Berry, he'll, RILEY, THOMAS HAYES, Wise, MATTHEW TUTTLE, ED MOYA, Aditya Soni, Samrhitha, Mayur, Ananya Mariam Rajesh, Arun Koyyur Organizations: Media, Fox Corp, News Corp, Fox, MADISON, WALL'S, Dominion, HOGAN, TUTTLE, MSNBC, Thomson Locations: Australia, United States, Bengaluru
New York CNN —Rupert Murdoch, the powerful right-wing media mogul who built and oversaw one of the world’s most influential news empires, announced Thursday that he will step down as chairman of his companies, Fox Corporation and News Corporation. Lachlan Murdoch steps inLachlan Murdoch will take over as chairman of Fox and News Corporation. Evan Agostini/Invision/APStepping into his shoes, Murdoch’s eldest son, Lachlan, who already serves as chief executive of Fox Corporation, will become sole chairman of both companies. In 1986, Murdoch got into the television business after he purchased several US television stations and created Fox Broadcasting. In recent years, under Murdoch, Fox News has advanced baseless conspiracy theories, including the Covid-19 pandemic and the 2020 presidential election.
Persons: Rupert Murdoch, ” Murdoch, Murdoch, Donald Trump’s, Lachlan Murdoch, Evan Agostini, Lachlan, , Rupert, , ” Rupert Murdoch, Trump, oilman Marvin Davis, Donald Trump, Bill Hemmer, Hemmer, Dana Perino Organizations: New, New York CNN, Fox Corporation, News Corporation, , , Fox and News Corporation, Wall Street Journal, New York, Republican Party, Fox News, CNN, Australian, UK’s, The Times, Sunday Times of, Century Fox, Fox Broadcasting, Sky, Comcast, Fox, Disney, Fox Sports, Fox News Fox News, Voting Systems, Dominion Locations: New York, cahoots, Sunday Times of London, Britain, America
Rupert Murdoch is stepping down as chairman of the board of both Fox Corp. and News Corp. , the companies said Thursday. Lachlan Murdoch, one of his sons, will become sole chairman of News Corp. and will continue as Fox Corp.'s executive chair and CEO. At the time, Fox had opposed having the elder Murdoch — as well as other top Fox executives — appearing in person, citing his age. Since July 2022, Murdoch had worked from his home in Montana rather than going into Fox or News Corp. offices, according to a securities filing. News Corp. owns newspapers The Wall Street Journal and New York Post, among other publications, while Fox is the parent company of right-leaning TV networks Fox News and Fox Business.
Persons: Rupert Murdoch, Murdoch, Lachlan Murdoch, , Joe Biden, Donald Trump, Murdoch's, Fox, Murdoch —, , Fox wouldn't, Tucker Carlson, Marvin Davis, Michael Wolff's, Read, Lachlan Organizations: Fox Corp, News Corp, Voting Systems, Fox News, Fox, Wall Street, New, New York Post, Fox Business, News, Century Fox, Fox News Channel, Disney Locations: Dominion, Delaware, Montana, New York, Australian, Adelaide, Australia, Britain, U.S, cahoots
Rupert Murdoch announced he is stepping down as the leader of Fox and News Corp.His elder son, Lachlan, will take over both companies, ending a decades-long family drama. She quit the family business years ago. AdvertisementAdvertisementThat left Lachlan and James, who have passed the title of successor between the two of them over the decades. For much of the 2000s and 2010s, it seemed as if James would eventually take over the family business. AdvertisementAdvertisementMeanwhile, Murdoch's favorite son, Lachlan, has been a Roman Roy-esque wild card, with the same right-wing politics as the "Succession" character.
Persons: Rupert Murdoch, Lachlan, HBO's, Lachlan Murdoch, Murdoch, , Logan Roy, I'm, Murdoch's, Michael Wolff, — Elisabeth, James —, Murdoch didn't, Jonathan Mahler, Jim Rutenberg, Elisabeth, Siobhan Roy, James, Kendall Roy, Wolff, Kendall, Roman Roy, Fair's Gabriel Sherman, Lachlan weren't, Sherman Organizations: Fox, News Corp, Service, Fox Corp, Fox News, Street, New, New York Post, Fair, New York Times, Wall, Century Fox, latter's, New York Magazine Locations: Wall, Silicon, New York, Roman, Australia
Media mogul Rupert Murdoch leaves his home in London, Britain March 4, 2016. Murdoch wed former supermodel Jerry Hall in a low-key ceremony in central London on Friday, the fourth marriage for the media mogul. REUTERS/Stefan Wermuth/File Photo Acquire Licensing RightsSept 21 (Reuters) - Rupert Murdoch stepped down as the chairman of Fox Corp (FOXA.O) and News Corp (NWSA.O) on Thursday, ending a long reign that saw him develop and lead a global media empire. SPLIT OF THE MURDOCH EMPIREBowing to pressure from shareholders, Murdoch separated News Corp's (NWSA.O) publishing and entertainment assets in 2013. Murdoch reportedly has an unflattering opinion of the former president and has also criticized Fox News anchors for siding with Trump.
Persons: Rupert Murdoch, Murdoch, Jerry Hall, Stefan Wermuth, Ann Lesley Smith, Michael Bloomberg, Donald Trump, Niket Nishant, Noor Zainab Hussain, Saumyadeb Organizations: Fox Corp, News Corp, Daily Express, San, Murdoch's, New York Times, Fox News, Trump, Forbes, Thomson Locations: London, Britain, Australia, United States, U.S, New York City, San Francisco, Bengaluru
NEW YORK (AP) — Rupert Murdoch, the 92-year-old Australian media magnate whose creation of Fox News made him a force in American politics, is stepping down as leader of both Fox's parent company and his News Corp. media holdings. Fox said Thursday that Murdoch would become chairman emeritus of both companies, effective at board meetings in November. Stock in Fox Corp., while positive this year, began to decline early in 2022, due in part to lawsuits and investor anxiety over the loss of viewers to smaller media outlets. While Murdoch never ran for political office, politicians in the United States and Britain anxiously sought his approval. Murdoch dismissed them as isolated instances that were “largely political because we're conservative.”Shares of News Corp. and Fox rose Thursday in early trading.
Persons: — Rupert Murdoch, Fox, Murdoch, Lachlan, Lachlan Murdoch, Rupert Murdoch, Tucker Carlson, Michael Wolff, , Paolo Pescatore, ” Murdoch, James, Elisabeth, Prudence, Donald Trump, Wolff, Trump, Ron DeSantis, DeSantis, Britain's, Roger Ailes, Bill O'Reilly, ___, Kelvin Chan, Jill Lawless Organizations: Fox News, News Corp, Fox Corp, Fox, ABC, CBS, NBC, Street Journal, New York, Walt Disney Co, Marvel, Geographic, Channel, CNN, MSNBC, Stock, , Foresight, HBO, Forbes, Florida Gov, Sky, Sunday Times, Sun Locations: Adelaide, Australia, United States, Britain, Sky, London
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Rate-sensitive stocks including Tesla (TSLA.O), Meta Platforms (META.O), Amazon.com (AMZN.O), Alphabet (GOOGL.O), and Nvidia (NVDA.O) fell between 1.5% and 3.0% as the two-year and 10-year Treasury yields , scaled multi-year highs. The benchmark interest rate could be hiked one more time in 2023 to a peak range of 5.50%-5.75%, while monetary policy could stay tighter than was expected through 2024, the Fed's updated quarterly projections showed. Declining issues outnumbered advancers by a 7.06-to-1 ratio on the NYSE and by a 3.86-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and 16 new lows, while the Nasdaq recorded seven new highs and 207 new lows.
Persons: Brendan McDermid, Sam Stovall, Stovall, Rupert Murdoch, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Federal Reserve, Nvidia, Semiconductor, Marvell Technology, SOX, Wall, Research, Arm Holdings, Dow Jones, Fox Corp, News Corp, NYSE, Thomson Locations: New York City, U.S, Philadelphia, New York, Bengaluru
Photos: Media mogul Rupert Murdoch
  + stars: | 2023-09-21 | by ( ) edition.cnn.com   time to read: +1 min
Rupert Murdoch announced Thursday that he will step down as chairman of Fox Corporation and Fox News. It's now a massive multimedia empire that spans the globe and includes TV, online, film and print interests. Murdoch, 92, owns hundreds of publishing outlets across the world and is one of the richest and most powerful people in the world. "Murdoch is the most ruthless businessman in world history," said Roger Stone, political strategist and ally of former President Donald Trump. I hope to be able to leave them a great opportunity like my father left me," Murdoch said.
Persons: Rupert Murdoch, It's, Murdoch, Roger Stone, Donald Trump Organizations: Fox Corporation, Fox News, News Corp, HBO Locations: Australia
Rupert Murdoch, one of the most powerful media tycoons of the modern era, is stepping down as chairman of Fox Corporation and News Corporation at the age of 92 and handing the reins to his 52-year-old son. The takeover planning appeared to begin in 2015, when Rupert named Lachlan and his brother James Murdoch as co-chairmen of 21st Century Fox. James later left the company, and Lachlan became CEO of the Fox Corporation in 2019, following Disney’s acquisition of 21st Century Fox. With his father’s departure, Lachlan will become the sole chairman of both Fox and News, after having co-chaired the company for years. It’s unclear whether right-wing cable network’s pro-Trump rhetoric will change with Lachlan Murdoch more fully in the driver’s seat.
Persons: Murdoch, Rupert Murdoch’s, Lachlan, Rupert Murdoch, Rupert, James Murdoch, James, ” Lachlan Murdoch, Lachlan Murdoch, Trump, Tucker Carlson, Sean Hannity, Laura Ingraham, Paddy Manning, Sarah, Anna Torv, Elisabeth Organizations: New, New York CNN, Fox Corporation, News Corporation, Century Fox, Fox, Trump, CNN, Capitol, Princeton Locations: New York, Australian, Sydney, Lachlan, London, United States, Australia
Cisco Systems , Splunk — Shares of Cisco fell 3.9% Thursday after the company said it is acquiring cybersecurity software company Splunk for $157 per share in a cash deal worth about $28 billion. KB Home posted its fiscal third-quarter report Wednesday evening, reporting earnings of $1.80 per share on revenue of $1.59 billion. Analysts polled by LSEG, formerly known as Refinitiv, called for earnings of $1.43 per share and revenue of $1.48 billion. Broadcom — Shares of Broadcom moved lower by almost 2.7%. Klaviyo — The marketing automation company stock closed Thursday roughly 2.9% higher.
Persons: Rupert Murdoch, Eli Lilly —, Klaviyo, Horton —, PulteGroup, Horton, Zillow, CNBC's David Faber, , Alex Harring, Tanaya Macheel, Samantha Subin Organizations: Broadcom, Cisco Systems, Cisco, KB, LSEG, Fox Corporation, News, News Corp, Broadcom —, Google, CNBC, Klaviyo, New York Stock Exchange, Zillow, FedEx —, FedEx, Paramount, Netflix, Disney, Writers Guild of America, Wednesday Locations: San Jose , California
Rupert Murdoch is stepping down from his role at Fox and News Corp., according to a company statement. "For my entire professional life, I have been engaged daily with news and ideas, and that will not change," Murdoch wrote. AdvertisementAdvertisementIt's unclear how Murdoch's media empire will change post-Rupert. Lachlan Murdoch, 52, has been CEO since 2019 after the baton switched back and forth between him and his brother James as to who would succeed their father. And while he's privately criticized Trump, he's also said that the Fox audience supports the former president, suggesting he knows that supporting Trump is good for Fox's business, CNN has reported.
Persons: Rupert Murdoch, Murdoch, Lachlan, Lachlan Murdoch, Trump, Jeanine Pirro, Maria Bartiromo, Lou Dobbs, Rudy Giuliani, Sidney Powell, Donald Trump, James, Rupert, He's, Tucker Carlson, he's Organizations: Fox, News Corp, Fox Corp ., Fox News, London, Voting, Dominion, Google, Meta, Street Journal, Hollywood, Fox Nation, CNN Locations: Rupert, FanDuel
Rupert Murdoch is officially stepping down from his current role at Fox News and News Corp. He's handing the reins to his son, Lachlan Murdoch. Lachlan Murdoch was previously the executive chairman and CEO of both companies. He will hand the reins to his son, Lachlan, who will take over as sole chairman of both companies, Murdoch said in a memo to employees. "My father firmly believed in freedom," Murdoch wrote, "and Lachlan is absolutely committed to the cause."
Persons: Rupert Murdoch, Lachlan Murdoch, Lachlan, Murdoch Organizations: Fox News, News Corp, Service, Fox Corporation Locations: Wall, Silicon
A Smartmatic lawyer compared Rupert Murdoch to a "mafia boss" in a court hearing Wednesday. The company says Fox News and parent company Fox Corp. defamed it through 2020 election conspiracy theories. Rupert and Lachlan Murdoch "ordered a hit" on Smartmatic, the Smartmatic lawyer argued. Connolly made the extended analogy to argue that Fox Corp., the parent company of Fox News, shouldn't escape liability in the case. Erin Murphy, an attorney representing both Fox Corp. and Fox News, argued that it wasn't enough to show that the Murdochs were generally involved in shaping Fox News's editorial coverage.
Persons: Rupert Murdoch, Rupert, Lachlan Murdoch, Johnny, Erik Connolly, who's, doesn't, Connolly, Lachlan, Suzanne Scott, Jay Wallace, Donald Trump's, Erin Murphy, Smartmatic, Murphy, Rudy Giuliani, Sidney Powell —, Joe Biden, Trump, Jean Catuffe, David B, Cohen, Powell, Giuliani Organizations: Fox News, Fox Corp, Service, Fox, Trump, Republican, Dominion, Newsmax, New Locations: Wall, Silicon, Smartmatic, Manhattan
REUTERS/Valentyn Ogirenko/File Photo Acquire Licensing RightsNEW YORK, Sept 20 (Reuters) - U.S. President Joe Biden plans to announce a $325 million military aid package for Ukraine on Thursday to coincide with a visit to Washington by President Volodymyr Zelenskiy, a U.S. official said on Wednesday on condition of anonymity. The weapons aid package was expected to include the second tranche of cluster munitions fired by a 155 millimeter Howitzer cannon, the U.S official said. Ukraine got an initial tranche of M864 155 millimeter artillery rounds in July 2023. Sending 155 millimeter artillery rounds with cluster munitions has eased the drain on standard "unitary" 155 millimeter shells, which the U.S. also plans to include in this shipment. Since the Russian invasion in February 2022 the U.S. has sent more than $40 billion worth of security assistance to Ukraine.
Persons: unpack, Valentyn, Joe Biden, Volodymyr Zelenskiy, Biden, Steve Holland, Doina Chiacu, David Ljunggren, Bill Berkrot Organizations: U.S, Boryspil, REUTERS, NATO, RTX Corp, Raytheon, High Mobility Artillery Rocket Systems, Lockheed, Presidential, Authority, Capitol, White, Thomson Locations: Ukraine, Kyiv, Washington, Russian
Among other things, Musk said the social network is "moving to having a small monthly payment for use of the X system" in order to combat "vast armies of bots. During the livestream, Musk also divulged some new metrics from X, claiming it now has 550 million "monthly users," who generate 100 million to 200 million posts per day there. However, Musk also used it to dispute the perception that his social network is full of hate speech and antisemitism. Before meeting with Netanyahu, Musk also accused George Soros's foundation of wanting to "destroy" western civilization. On Twitter, Musk has repeatedly disparaged trans people, federal regulators, politicians, journalists, whistleblowers, critics of his companies, and short sellers.
Persons: Elon Musk, Benjamin Netanyahu, Musk, Netanyahu, George Soros's, Tesla, Donald Trump, Marjorie Taylor Greene, Andrew Anglin Organizations: SpaceX, Tesla, Artificial Intelligence, Twitter, Israeli, Anti Defamation League, ADL, X Corp, Open Society, Nazi Locations: Washington ,, West, Jewish, Hungarian, American, U.S
The MTU Aero Engines logo is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 22, 2023. REUTERS/Benoit Tessier/File photo Acquire Licensing RightsBERLIN, Sept 13 (Reuters) - MTU Aero Engines (MTXGn.DE) will talk to U.S. partner Pratt & Whitney about compensation for an estimated 700 million euro hit to its cash flow caused by problems with its partner's geared turbofan engines, the German aircraft engine maker's chief financial officer said on Wednesday. The problems would not markedly affect the current year but will result in a hit to cash flow of about 700 million euros ($751.45 million), which will be felt mainly in 2024 and 2025, with some spillover in 2026, according to CFO Peter Kameritsch. MTU said in a statement earlier on Wednesday that it is considering leaving the "significant resulting charges" on reported revenue and earnings figures for 2023 out of its current year guidance. ($1 = 0.9315 euros)Reporting by Christina Amann, Writing by Miranda Murray, Editing by Rachel More, Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.
Persons: Benoit Tessier, Pratt, Peter Kameritsch, Kameritsch, Lars Wagner, Christina Amann, Miranda Murray, Rachel More, Elaine Hardcastle Organizations: International Paris Air, Le, REUTERS, Rights, Aero, Whitney, German, Pratt & Whitney, RTX Corp, Thomson Locations: Le Bourget, Paris, France
X, formerly Twitter, was fined $150 million for data-privacy violations before Elon Musk's takeover. In a court filing, the DOJ has hit back, questioning X's compliance with an FTC order. It also saw X face more robust requirements to maintain data privacy, including periodic assessments from a third party. After Musk's takeover saw top privacy executives quit, the FTC said it was tracking the company "with deep concern." AdvertisementAdvertisementIn Musk's first six months of owning the company, X's workforce fell 90%, down to about 1,000 employees, Insider reported.
Persons: Elon Musk's, X, Musk, X hadn't Organizations: Twitter, Elon, DOJ, FTC, Service, Department of Justice, Federal Trade Commission, X Corp Locations: Wall, Silicon
A screen capture of Twitter's official page with an "X" on the profile image is seen on July 23, 2023 in this screengrab obtained from a social media website. via REUTERS/File photo Acquire Licensing RightsCompanies B2x Corp FollowAMSTERDAM, Sept 13 (Reuters) - A Dutch group on Wednesday filed a subpoena against social media company X Corp, formerly known as Twitter, in a preliminary step that could potentially lead to a class action lawsuit over alleged misuse of user data. The Stichting Data Bescherming Nederland (SDBN) said it intends to seek damages for people whose data was allegedly wrongfully tracked and traded in the 2013-2021 period. It filed a subpoena at Rotterdam District Court summoning X to appear on Jan. 3. For the case to proceed, judges have to determine whether X has a case to answer, whether there is an identifiable group of people affected, and if so whether SDBN represents them.
Persons: SDBN, Toby Sterling, Jane Merriman Organizations: REUTERS, X Corp, Stichting, Bescherming, Court, Reuters, Thomson Locations: Rotterdam
Elon Musk, chief executive officer of SpaceX and Tesla and owner of Twitter, at the Viva Technology conference in Paris, France, June 16, 2023. Musk took control of X Corp., known at the time as Twitter, in October in a deal worth over $40 billion. This year, however, X has spent more than $500,000 combined on federal and state lobbying, according to data from the nonpartisan OpenSecrets. They spent more than $80,000 on lobbying California state lawmakers since 2021, with a partial focus on Gabriel's bill, according to the public records. A search through the federal court database shows the social media company was never a plaintiff challenging state laws in the years prior to the recent lawsuit against California.
Persons: Elon Musk, Elon, Musk, Jesse Gabriel, Gabriel, Gavin Newsom, X's, X Organizations: SpaceX, Tesla, Twitter, Viva Technology, X Corp, Democratic, CNBC, Gov, Big Tech Locations: Paris, France, California
NEW YORK (AP) — New York City's pension funds and the state of Oregon sued Fox Corporation on Tuesday, alleging the company harmed investors by allowing Fox News to broadcast falsehoods about the 2020 election that exposed the network to defamation lawsuits. New York City's pension funds are long-term shareholders of Fox Corporation, with shares valued at $28.1 million as of the end of July. In a statement, Oregon Attorney General Ellen Rosenblum said the Fox breached its fiduciary duties by disregarding legal risks. “The directors’ choices exposed themselves and the company to liability and exposed their shareholders to significant risks," she said. “That is the crux of our lawsuit, and we look forward to making our case in court.”
Persons: , Brad Lander, Fox's, Donald Trump's, , Democrat Joe Biden, Lachlan Murdoch, Ellen Rosenblum Organizations: , Fox Corporation, Fox News, Voting Systems, Oregon, Dominion, Democrat, Fox Corp, Smartmatic, Fox Locations: York, Oregon, Delaware, New York City, Trump, Smartmatic USA
A Raytheon Technologies (RTX) logo is pictured during the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 19, 2023. REUTERS/Benoit Tessier Acquire Licensing RightsSept 12 (Reuters) - Airlines and aerospace suppliers are expected to take a hit after RTX Corp (RTX.N) said on Monday 600-700 engines on Airbus A320neo jets need to be inspected for quality issues, which could ground hundreds of aircraft through 2026. In July, RTX said microscopic contaminants were found in a powdered metal used in high-pressure turbine discs that are part of the Pratt & Whitney Geared Turbofan (GTF) engine's core. The presence of those contaminants could lead to cracks in the engine. The following airlines and aerospace suppliers expect to be affected:($1 = 0.8015 pounds)($1 = 0.9317 euros)Compiled by Pratyush Thakur in Bengaluru; Edited by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Persons: Benoit Tessier, RTX, Pratyush Thakur, Shounak Dasgupta Organizations: Raytheon Technologies, Paris, REUTERS, Airlines, RTX Corp, Airbus, Pratt & Whitney, Thomson Locations: Le Bourget, Paris, France, Bengaluru
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