Goldman Sachs and Bank of America shareholders voted against proposals to divide the CEO and chairman roles at both banks on Wednesday, bucking pressure from influential proxy advisers to bolster corporate governance.Proxy advisers Institutional Shareholder Services (ISS) and Glass Lewis had urged shareholders to support the moves and strip Goldman CEO David Solomon and BofA CEO Brian Moynihan of their chairman roles.Norway’s $1.6 trillion sovereign wealth fund, one of the world’s largest investors, had als ...

Walmart said it will remove self-checkout counters at two more stores — including one where retail theft has gotten so bad that shoppers say going there has become downright “scary.”The Arkansas-based retail giant didn’t address the problems of retail theft, saying it was ditching the self-checkout lanes at the store in Cleveland and another in Shrewsbury, Mo., as part of a wider move to improve the “in-store shopping experience.”Shoppers who frequented the Walmart at the Steelyard Commons section of Clevel ...

Boeing said Wednesday that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers.CEO David Calhoun said the company is in “a tough moment,” and its focus is on fixing its manufacturing issues, not the financial results.Company executives have been forced to talk more about safety and less about finances sinc ...

Tesla’s stock soared by more than 11% in pre-market trading early Wednesday morning after CEO Elon Musk said the company would accelerate the rollout of more affordable electric vehicles in hopes of boosting sagging profits.Musk’s announcement was aimed at calming nervous investors on Wall Street who were still trying to digest the company’s most recent earnings report, released on Tuesday, that showed profit fell to its lowest in any three-month period since 2021.Dan Ives, senior analyst at Wedbush Securit ...

Oracle founder Larry Ellison announced Tuesday that he plans to move the software giant’s corporate headquarters to Nashville, Tennessee, which he added is at the center of the healthcare industry.Ellison sat down with former Senate majority leader Bill Frist for an onstage conversation in Nashville, which was shared by Oracle Health on the social media platform LinkedIn on Tuesday.The founder and executive chairman told Frist his company was moving its “huge campus” to Nashville, and it will “ultimately be ...

Tesla said Tuesday it had pulled forward the launch of new models, sending its shares up 6% in trading after the bell.“We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025,” the company said in a filing.“This update may result in achieving less cost reduction than previously expected but enables us to prudently grow our vehicle volumes in a more capex efficient manner during uncertain times,” Tes ...

Apple iPhone sales in China plunged 19% in the first three months of the year — the worst performance since the start of the pandemic in 2020 — to knock the Tech giant from its perch as the top-selling phone in the crucial market.The Cupertino, Calif.-based company’s share in the world’s biggest smartphone market fell to 15.7% in the first quarter from 19.7% a year earlier. That put it almost level with Huawei, which saw sales jump 70%, according to research firm Counterpoint.Apple lost its crown as the big ...

Google fired at least 20 more workers in the aftermath of protests over technology the company is supplying the Israeli government amid the Gaza war, bringing the total number of terminated staff to more than 50, a group representing the workers said.It’s the latest sign of internal turmoil at the tech giant centered on “Project Nimbus,” a $1.2 billion contract signed in 2021 for Google and Amazon to provide the Israeli government with cloud computing and artificial intelligence services.Workers held sit-in ...

Soccer’s global governing body FIFA is close to an agreement with Apple to give the tech company worldwide television rights for a new, month-long club tournament, the New York Times reported Monday.The deal with Apple could be announced as soon as this month and valued at around $1 billion, a quarter of the $4 billion FIFA had first estimated, the report said, citing three people familiar with the matter.The potential agreement would give the company’s streaming business an edge amid competition among stre ...

Group 1 - BlackRock increased spending on private security for CEO Larry Fink more than threefold last year, spending $563,513 on home security upgrades and $216,837 on bodyguards [1] - The company manages approximately $10.5 trillion in assets and has faced significant backlash from Republican-led state investment funds, which have withdrawn around $13.3 billion in assets due to its ESG investment strategies [3] - The Texas Permanent School Fund announced it would pull $8.5 billion from BlackRock, marking the largest withdrawal by a Republican-led pension fund to date [3] Group 2 - BlackRock's ESG policies have led to legal warnings, including one from Mississippi regarding "false and misleading statements" to investors [3] - Despite the backlash, BlackRock's climate transition funds market grew by 25% last year, reaching nearly $210 billion, with four of the five best-selling climate funds being BlackRock products [6] - BlackRock funds recorded $13.9 billion in net flows according to Morningstar, indicating continued investor interest in its offerings despite political challenges [6]