Streetbeat News

Corporate Responsibility

MSFT

Elon Musk, CEO of Tesla and SpaceX, has expressed his dislike for Microsoft's LinkedIn, calling it 'cringe'. He hinted that the app X plans to introduce a more 'cool' alternative. Musk, who also acquired Twitter for $44 billion in October 2022, prefers to receive resumes or bios via email. This comes after LinkedIn co-founder Reid Hoffman criticized Musk for his stance on AI trials. LinkedIn is expected to see a cumulative increase of 82.6 million users from 2024 to 2027, representing an 11.07% rise.

Portfolio Pulse from Ananya Gairola

August 28, 2023 | 1:54 am

META

Meta Platforms Inc. (NASDAQ:META) has updated its return-to-office strategy, mandating employees to be present in the office for at least three days a week and use badge swipes for attendance tracking. The policy has been criticized for diminishing trust within the organization. The company's decision to lay off over 20,000 employees between November 2022 and May 2023 has further eroded trust.

Portfolio Pulse from Bibhu Pattnaik

August 26, 2023 | 8:19 pm

AAPL

GOOG

Apple Inc.'s chief security officer, Thomas Moyer, faces bribery charges linked to alleged iPad-based incentives for procuring firearm permits. The case stems from allegations that Moyer pledged to donate 200 iPads, valued between $50,000 and $80,000, to the Santa Clara County Sheriff’s Office to secure concealed firearm permits for four Apple employees. The situation unfolded in 2017 when Apple sought firearm permits to bolster the security of CEO Tim Cook following reports of increased threats.

Portfolio Pulse from Ananya Gairola

August 26, 2023 | 7:58 am

LOB

Live Oak Bancshares has appointed William C. (BJ) Losch, III as President of Live Oak Bank, effective immediately. Losch will also continue to serve as Chief Financial Officer of Live Oak Bancshares. Losch has been serving as CFO for the past two years and has been leading customer facing sales, support and operational groups across all lending and deposits functions at the bank.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 8:32 pm

UNP

Union Pacific Corp has announced that it does not anticipate any operational delays due to the temporary suspension.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 8:10 pm

ARNC

Arconic Corporation (NYSE: ARNC) has announced that Chris Ayers will become its CEO and Chair of the Board, effective from September 11, 2023. Ayers has served on Arconic's Board of Directors for seven years and held several executive positions in Alcoa, the company's predecessor. Current CEO Tim Myers will continue to serve in an advisory capacity as Arconic's Lead Outside Director of the Board.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 8:00 pm

SPY

Tiger Global Management has informed its investors that it is a target of misinformation attacks by a former employee. The firm is responding to a document, allegedly a draft article by The New Yorker magazine, that has been circulating in recent months with damaging allegations about the investment firm.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 7:44 pm

MPC

Marathon Petroleum Corporation (MPC) is set to shut down its third-largest US oil refinery following a fire incident in one of its storage tanks, according to a Bloomberg report.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 7:23 pm

AMZN

GOOG

MSFT

Google's parent company, Alphabet Inc, has been flagged for YouTube's advertising practices, which allegedly bypass the privacy of children. A children's activist group, Fairplay, accused YouTube of exploiting Google's advertising tools to run a $10 ad campaign targeting adult groups on children's video channels. In 2019, Google and YouTube agreed to pay a record $170 million to settle regulators' accusations of illegally collecting personal information from children. Other companies, including Microsoft Corp, Amazon.com Inc, and ByteDance Ltd's TikTok, have also faced FTC penalties for similar practices.

Portfolio Pulse from Anusuya Lahiri

August 25, 2023 | 1:28 pm

DOCN

DigitalOcean, a cloud infrastructure provider, is currently seeking a new CEO. This announcement has led to a decrease in the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 12:43 pm