Goldman Sachs is catching fresh heat over massive bonuses it has pledged to CEO David Solomon and his No. 2 executive John Waldron — with powerful shareholder voting advisors slamming the payouts as "excessive" and "poor practice." A pair of so-called proxy advisory firms, which counsel investors on how to vote at the annual meetings of big public companies, ripped an $80 million retention bonus for 63-year-old Solomon — a lavish sum that sparked outrage among the rank and file when the bank revealed it in ...

Mark Zuckerberg’s Meta is reportedly pleading with the Trump administration to intervene on the social media giant’s behalf as it faces a massive fine under the European Union’s strict antitrust rules.The European Commission, the EU’s competition watchdog, is readying to slap Meta for what is expected to be hundreds of millions of dollars and potentially more than $1 billion, as The Post has reported. Meta will also receive a cease-and-desist notice detailing which practices it must change to get into compl ...

Core Viewpoint - Johnson & Johnson's $10 billion proposal to settle lawsuits related to its talc products has been rejected by a US bankruptcy judge, marking the third failure of the company's bankruptcy strategy in court [1][2][3]. Group 1: Bankruptcy Court Decision - US Bankruptcy Judge Christopher Lopez stated that Johnson & Johnson did not belong in bankruptcy and criticized the proposed settlement for lacking sufficient support from women alleging cancer caused by J&J products [2][3]. - The judge noted that the proposal improperly sought to release legal claims against entities that had not filed for bankruptcy, including retailers and Kenvue, a consumer health business spun off by J&J [3][10]. - Lopez highlighted serious flaws in the voting process conducted by J&J, indicating that many votes collected from plaintiffs' attorneys should not be counted [6][7][9]. Group 2: Company Response and Future Actions - Johnson & Johnson announced it would not appeal the ruling but intends to litigate the claims in court, asserting that the talc claims are meritless [4][11]. - The company faces lawsuits from over 60,000 claimants alleging that its talc products contained asbestos and caused ovarian cancer, with the proposed settlement aimed at resolving these lawsuits [11][12]. - J&J had previously estimated that ovarian cancer patients would receive between $75,000 and $150,000 under the settlement, depending on injury severity and the number of claims [13]. Group 3: Historical Context - Johnson & Johnson has been attempting to resolve these lawsuits through bankruptcy since its first attempt, which has now failed three times [1][5]. - The company stopped selling talc-based baby powder in the US in 2020, switching to a cornstarch product, amid ongoing litigation and safety concerns [11][14].

Core Viewpoint - Rocket Cos. is acquiring Mr. Cooper Group for $9.4 billion to enhance its mortgage business amid a rebound in U.S. housing demand [1] Group 1: Acquisition Details - The acquisition of Mr. Cooper Group is valued at $9.4 billion, with Rocket offering 11 shares for each common stock of Mr. Cooper, equating to $143.33 per share, a 37% premium based on the previous closing price [4] - Earlier in the month, Rocket acquired real estate listing firm Redfin in an all-stock deal valued at $1.75 billion [2][4] Group 2: Financial Impact - The deal is expected to add nearly 7 million clients, increase loan volume, and drive recurring revenue while lowering client acquisition costs [5] - The acquisition is projected to generate an additional $100 million in pre-tax revenue and save $400 million through operational streamlining, corporate expenses, and technology investments [5] - The transaction is anticipated to contribute to Rocket's adjusted earnings per share immediately after closing [5] Group 3: Market Reaction - Following the announcement, shares of Mr. Cooper rose over 18% in morning trading, while Rocket's shares fell by 7.5% [4] Group 4: Leadership Changes - Post-acquisition, Mr. Cooper CEO Jay Bray will lead Rocket Mortgage, Rocket's flagship business [6]

Core Viewpoint - GameStop, the original meme stock, is attempting to pivot its business model by issuing $1.3 billion in convertible debt to invest in the cryptocurrency market, despite its struggling core business of selling video games [1][8]. Business Model and Financial Performance - GameStop's traditional business model, focused on selling video games in malls, has not fundamentally changed, and sales are projected to decline between 2023 and 2024, with analysts not optimistic about 2025 [5]. - The company has become profitable under CEO Ryan Cohen, who has stabilized its balance sheet, but the core business remains weak [4]. - GameStop's stock price has been volatile, experiencing a 20% drop in one day following the announcement of the convertible debt, with trading volume about ten times its average [3]. Market Sentiment and Investor Behavior - Investors are showing signs of skepticism regarding GameStop's strategy, perceiving the move into cryptocurrency as desperate [2][11]. - The stock trades at a P/E ratio of 65, significantly higher than the average S&P stock, raising concerns about its valuation amidst a changing market environment [12]. - The meme stock phenomenon that previously drove GameStop's price is losing momentum, with the absence of stimulus checks and a less favorable market for speculative investments [9][10]. Future Outlook - The future of GameStop's mall-driven video game business and the sustainability of its cryptocurrency investments remain uncertain, with questions about the long-term viability of both [14]. - Despite the challenges, GameStop may retain a loyal base of investors due to Cohen's leadership, but the company is asking a lot from its shareholders with the potential for further dilution [13].

Elon Musk’s Tesla will get a major boost on key rivals in the auto sector after President Trump imposed 25% tariffs on all foreign-made cars and auto parts, according to financial analysts.Tesla manufactures all of the electric vehicles it sells in the US at plants in California and Texas – a key factor that should shield Musk’s pioneering company from the worst impacts of the tariffs.Meanwhile, competitors like GM and Ford – as well as international rivals like South Korea’s Hyundai and Germany’s Volkswage ...

Group 1 - Federal prosecutors in Manhattan are investigating a claim by GSK that Pfizer delayed announcing the success of its COVID vaccine until after the 2020 election [1][4] - GSK's former head of vaccine development, Philip Dormitzer, allegedly informed GSK colleagues about the delay, although he has disputed this account [1][2] - The US Attorney's Office has interviewed at least two individuals, including a GSK executive who documented a conversation with Dormitzer, and plans to interview a third person soon [3][5] Group 2 - President Trump previously claimed that Pfizer withheld positive data from vaccine clinical trials, but there has been no evidence to support this accusation [3][5] - Pfizer officials have not yet been interviewed by the prosecutors regarding the claims made by GSK [5][6] - GSK has chosen not to comment on the ongoing investigation, while Pfizer and the US Attorney's Office have not responded to requests for comments [6]

Group 1: Company Overview - BYD plans to double its overseas sales in 2025, projecting to sell over 800,000 vehicles outside China, up from 417,204 in 2024 [1][3] - The company expects to sell a total of 5.5 million vehicles this year, indicating strong growth potential [3] - BYD's product lineup includes fully electric vehicles and hybrids, with the cheapest model priced under $10,000 [3] Group 2: Market Position and Competition - BYD's international expansion could pose challenges for Tesla, which has experienced a sales slowdown in China due to increased competition and a price war [4] - BYD reported annual sales of $107 billion, surpassing Tesla's $97.7 billion in revenue for the same period [4][10] - Car buyers in Britain and other regions are receptive to BYD and other Chinese competitors, suggesting a favorable market environment [2] Group 3: Expansion Plans - BYD is establishing manufacturing plants in Brazil, Turkey, Thailand, and Hungary as part of its overseas growth strategy [3] - The company aims to mitigate tariff impacts by sourcing key EV components within China and manufacturing vehicles in local markets [9] - A planned manufacturing plant in Mexico, capable of producing 150,000 cars annually, has faced delays due to geopolitical concerns [9][10] Group 4: Technological Advancements - BYD recently introduced a charging system that allows its latest models to travel 250 miles on just five minutes of charging [6]

Core Viewpoint - Canada has banned Tesla vehicles from future electric vehicle rebate programs due to ongoing trade disputes with the U.S., specifically related to tariffs imposed by President Trump [1][8]. Group 1: Rebate Program Changes - Tesla vehicles are ineligible for Canada's electric vehicle rebate program as long as U.S. tariffs remain in place [1]. - Canada has frozen C$43 million ($30.11 million) in pending payments to Tesla, pending review of rebate claims [2]. - The previous rebate program, which offered up to C$5,000 for electric vehicle purchases, was shut down in January due to a lack of funds [2]. Group 2: Claims and Investigations - Tesla dealerships submitted a significant number of rebate claims just before the program ended, with one dealership in Quebec City seeking nearly C$20 million ($14 million) in subsidies [3]. - This surge in claims raised suspicions among Canadian officials regarding the validity of the submissions [3][4]. Group 3: Impact of Tariffs - The ongoing trade dispute and tariffs have negative implications for Tesla, including higher manufacturing costs for vehicles built in the U.S. and increased costs for exported vehicles [9]. - Experts suggest that Tesla and other U.S. automakers are likely to be significantly affected by the tariff battle, impacting their supply chains [6].

Core Points - A federal judge has set a trial date for June 23 in the Justice Department's criminal fraud case against Boeing related to alleged misrepresentations about the 737 MAX [1] - Boeing previously agreed to plead guilty to a criminal fraud conspiracy charge and pay a fine of up to $487.2 million following two fatal crashes [2][5] - Boeing is reportedly seeking to withdraw the existing plea deal, while the Justice Department and Boeing are engaged in discussions for a resolution [3] Legal Proceedings - The plea deal included a commitment from Boeing to spend $455 million on safety and compliance improvements over three years, under court supervision [4] - Relatives of the victims from the crashes have criticized the plea agreement as insufficient and are urging for a full prosecution instead [6] - The Justice Department found Boeing had violated a previous agreement that protected it from prosecution, leading to the current charges [8] Industry Context - The ongoing legal issues highlight significant safety and quality concerns within Boeing, exacerbated by a recent incident involving an Alaska Airlines jet [8][11] - Officials have called for stricter regulatory measures against Boeing and the aviation industry as a whole [10]