Carnival Corp., the world’s largest cruise company, on Tuesday said Josh Weinstein, its chief operations officer, would become the next chief executive, taking over the role from Arnold Donald. Donald, 67, has been CEO of Carnival for nine years and had led the company to post a record profit in 2018 before the COVID-19 pandemic jolted the cruise industry. … Read more
Elon Musk already had his hands full even before he finalized Monday’s $44 billion deal to take over Twitter. The entrepreneur — who now holds the title of world’s richest man — got his start in Silicon Valley after he dropped out of Stanford University in 1995 and co-founded PayPal, where he worked alongside other … Read more
More workers may soon be able to stake some of their 401(k) retirement savings to bitcoin, as cryptocurrencies crack even deeper into the mainstream. Retirement giant Fidelity said Tuesday that it’s launched a way for workers to put some of their 401(k) savings and contributions directly in bitcoin, potentially up to 20%, all from the … Read more
Stand-up comedian and Hollywood actor Kevin Hart on Tuesday launched a new media company called HartBeat, with a $100 million investment from private equity firm Abry Partners. Abry, which focuses on investments in the media, communication and information services space, took a minority stake in the company at an undisclosed valuation. Hart, known for his roles in films such … Read more
US stocks were pounded in midday trading Tuesday — with heavy losses in the tech-heavy Nasdaq index – as investors braced for key earnings from Google parent Alphabet and Microsoft later in the afternoon. The tech giants are set to disclose quarterly results against a backdrop of heavy volatility and investor anxiety on Wall Street. … Read more
Warner Bros. Discovery boss David Zaslav vowed to not “overspend” to grow its streaming footprint, days after it shuttered CNN’s nascent streaming service, CNN+. Zaslav, who helms the newly formed media giant WBD, home to CNN, Warner Bros. TLC, HBO and Food Network, said he is moving fast to cement his vision of merging the … Read more
General Electric on Tuesday said fresh COVID-19-related lockdowns in China as well as the war in Ukraine have exacerbated supply chain disruptions and inflationary pressure, putting its full-year profit outlook at risk and plunging its shares. While the Boston-based industrial conglomerate retained the outlook issued in January, it said the current trends suggest it would hit the … Read more
Surging inflation is still weighing heavily on U.S. small businesses – some 40% of which are planning to increase prices by 10% or more to offset their rising expenses. The results of a survey conducted by the National Federation of Independent Business also hint at the financial obstacles facing American households as businesses pass along … Read more
Twitter is reportedly taking drastic steps to maintain smooth operations this week amid fears that disgruntled employees could try to disrupt the service following Elon Musk’s takeover of the company. The social media platform has blocked routine changes such as product updates through Friday of this week – with alterations only possible if they’re identified … Read more
Amazon founder Jeff Bezos shared a conspiracy that Elon Musk’s takeover of Twitter could empower China — just to later admit it was “probably” unfounded. The Washington Post owner took aim at the only person in the world richer than him soon after Musk called his new $44 billion purchase “the digital town square where … Read more