Goldman Sachs added dozens of bankers to Wall Street’s most exclusive club on Thursday by naming 95 new partners — the largest number since former CEO Lloyd Blankfein’s promoted 115 financiers in 2006. Goldman’s latest class of new partners — which includes 26 female bankers — also marks the biggest group by far since David Solomon became CEO in 2018. The announcement comes amid a flurry of dealmaking activity in the world’s financial capital that has boosted profits at Goldman’s lower Manhattan headquarter ...

General Motors said Thursday it will end production of the gas-powered Cadillac XT4 in January as it shifts production at its Kansas plant to electric vehicles.GM is investing $390 million at its Kansas assembly plant to build next-generation Chevrolet Bolt EVs.GM will end production of the gas-powered Cadillac XT4 in January. Tamara Beckwith/NY PostGM is investing $390 million at its Kansas assembly plant to build next-generation Chevrolet Bolt EVs APGM plans to end production of its Chevrolet Malibu in th ...

Apple has warned investors that its future suite of new products may never be as profitable as the iPhone.The company issued the warning in a recent securities filing as part of a list of “risk factors” that could weigh down the business.Apple, which was recently supplanted by AI chip maker Nvidia as the world’s most valuable company, last week reported 6% increase in revenue for the most recent quarter though it said that it expects weaker growth during the current quarter. 3 Apple has warned investors t ...

Tesla shares surged 14% on Wednesday after President-elect Donald Trump – whose campaign the electric-car maker’s CEO Elon Musk outspokenly supported – clinched a victory.Musk’s Tesla soared on Wednesday morning as Trump was projected to win the presidency with 277 electoral votes.The billionaire tech founder donated millions to a pro-Trump PAC, rallied on the former president’s behalf and swayed Americans to vote early with a $1 million-a-day sweepstakes. 3 Tesla shares zoomed ahead on Wednesday after Pr ...

JPMorgan Chase CEO Jamie Dimon will remain at the bank and has no plans to join the Trump administration despite questions about whether he would take a senior government role after the presidential election, a source said.Dimon, 68, has been the subject of repeated speculation in recent weeks as a candidate for Treasury secretary by both Republicans and Democrats, but said last month that his chances of taking an official post were “almost nil.”Jamie Dimon said last month that his chances of taking an offi ...

Core Viewpoint - Google has intensified restrictions on political discussions among employees, particularly in the lead-up to the recent election, aiming to maintain a neutral workplace environment and uphold its role as a trusted information source [1][2][5]. Group 1: Policy Implementation - Google CEO Sundar Pichai emphasized the importance of adhering to the company's "personal political activity policy" in a memo, stating the goal is to be a trusted source of information for all backgrounds and beliefs [2]. - The company had previously enacted a rule that would ban employees from political discussions after three violations of the policy [2]. - Google has been actively moderating and removing election-related posts from its internal message board, Memegen, to enforce these policies [1][4]. Group 2: Employee Reactions - Some employees expressed dissatisfaction with the political discussion restrictions, with one jokingly suggesting making Election Day a holiday to relieve the internal community management team [3]. - There were complaints from employees regarding the removal of posts they believed did not violate the political discussion ban [3]. Group 3: Historical Context - Google has faced internal discord over political issues, including the firing of dozens of employees involved in anti-Israel protests [5][6]. - The company briefly shut down Memegen in March due to employee backlash over its $1.2 billion "Project Nimbus" contract with the Israeli government [5]. - A federal labor complaint was filed by the Alphabet Workers Union, accusing Google of imposing an illegal "gag order" on discussions related to pending antitrust cases [6][7].

Apple is set to be fined by the European Union’s antitrust regulators under the bloc’s landmark rules aimed at reining in the power of Big Tech, making it the first company to be sanctioned, sources with direct knowledge of the matter said on Tuesday.The regulators charged in June that the iPhone maker, helmed by CEO Tim Cook, had breached the bloc’s tech rules. The charge against Apple was the first by the Commission under its Digital Markets Act (DMA).The fine is likely to come this month although the tim ...

Company Overview - iHeart Media is facing significant challenges due to its $5.21 billion total debt and $4.85 billion net debt, which has led to job cuts as part of a business streamlining effort [3][4][6] - The company operates approximately 860 stations across over 160 US markets [3][4] Layoffs and Workforce Impact - The company has announced layoffs affecting less than 5% of its workforce, which amounts to hundreds of job losses [1][2] - Layoffs began on a Monday and continued into Tuesday, with some employees expressing surprise and disappointment over the timing of the announcements [2][5] Financial Performance - For the quarter ending June 30, revenues increased by 1% due to a rise in digital audio advertising, but adjusted earnings fell by 21.4% year-over-year due to rising expenses [7] - iHeart Media is facing a wave of debt maturities in 2026, 2027, and 2028, which will impact its ability to manage its debt load effectively [7] Strategic Moves - The company has engaged law firm Simpson Thatcher & Bartlett to assist in negotiations with creditors regarding its debt restructuring [6] - iHeart Media previously emerged from bankruptcy in 2019, reducing its debt from over $16 billion to less than $6 billion, but continues to struggle with cash flow [6]

Core Points - Unionized machinists at Boeing voted to accept a contract offer, ending a strike that lasted over seven weeks, allowing the company to resume production and generate cash [1][3] - The new contract includes pay raises of 38% over four years, along with ratification and productivity bonuses, but does not restore a previously frozen pension plan [2][4] - Boeing's CEO expressed satisfaction with the agreement, emphasizing the need for teamwork to restore the company's excellence [3][4] Contract Details - The contract's ratification enables 33,000 workers to return to work as soon as Wednesday or by November 12, with production resuming potentially taking "a couple of weeks" due to retraining needs [4] - The average annual pay for Boeing machinists will increase from $75,608 to $119,309 under the new contract [4] Reactions and Implications - Reactions among union members were mixed, with some expressing dissatisfaction despite voting in favor of the contract, citing a lack of fulfillment of demands [5][6][7] - Union leaders endorsed the proposal, believing it was the best achievable outcome after negotiations and the strike [8][9] - President Biden congratulated both the machinists and Boeing, highlighting the contract's importance for fairness in the workplace and Boeing's future in the aerospace sector [9] Workforce Changes - Boeing's CEO announced plans to lay off about 10% of the workforce, approximately 17,000 employees, due to the strike and other factors affecting the company's reputation and financial health [10]

Sam Altman-led OpenAI is in early talks with the California attorney general’s office to change its corporate structure in a bid to become a for-profit business, Bloomberg News reported on Monday, citing two people familiar with the matter.OpenAI and a representative for the California Attorney General did not immediately respond to Reuters’ requests for comment.A shift to being a for-profit company would mark a drastic reversal in governance structure for the AI pioneer, which was founded in 2015 as a non- ...