Nvidia CEO Jensen Huang loses $10B as company’s stock plummets
AI chip leader Nvidia's CEO Jensen Huang's net worth fell by about $10 billion on Tuesday after the company's shares plunged nearly 10% amid global selling pressure. The 61-year-old Taiwan-born CEO, who worked as a toilet cleaner and server at Denny's before co-founding Nvidia more than 30 years ago, has seen his net worth fall […]
US Steel will cut jobs, close plants, move HQ from Pittsburgh if Nippon sale fails, CEO warns
U.S. Steel warned Wednesday that thousands of union jobs would be at risk if its merger with Nippon Steel Corp. fails, and suggested it could close several steel mills and move its headquarters out of the politically sensitive state of Pennsylvania. The announcement comes as Nippon Steel's plans to buy a U.S. steelmaker face growing […]
Intel CEO to pitch board on plans to shed assets, cut costs, source says
Intel Chief Executive Officer Pat Gelsinger and key executives plan to present a plan to the company's board later this month to cut nonessential businesses and restructure capital spending in an effort to revive the chipmaker's once-dominant position, according to people familiar with the matter. The plan also includes ideas about how to cut overall […]
Goya CEO slams Biden-Harris admin as ‘complicit’ in child and drug trafficking at border
Goya Foods CEO Robert Unanu accused the Harris-Biden administration of failing to control the southern border and being “complicit” in child and human trafficking. Unanu repeated the claim after criticizing Vice President Kamala Harris for shifting focus to “price controls” on food and other goods. “What about the United States? Instead of being an accomplice […]
Baltimore man sentenced to life for murdering tech CEO Pava LaPere
A Baltimore man has been sentenced to life in prison for the 2023 murder of tech entrepreneur Pava LaPere, authorities said. Jason Billingsley, 33, pleaded guilty Friday to first-degree murder and two counts of attempted murder and was sentenced to three life sentences in prison for LaPere's death, the rape of April Hurley and the […]
‘Probably Wise to for Me to Limit’ Travel After Arrest of Telegram CEO Pavel Durov
Elon Musk has said it would “probably be wise” to “confine” his travels to territories where freedom of speech is “constitutionally protected.” The X owner's comments come after Telegram CEO Pavel Durov was arrested in France in connection with a “lack of moderation” on the messaging app. “It would probably be wise to restrict travel […]
‘Internet prophet’: arrest of Telegram CEO could strengthen heroic image | Telegram
circleWhen Pavel Durov was criticized by Russian regulators for spreading pornography on the social media platform he founded, VKontakte, the tech entrepreneur responded derisively by changing his Twitter handle from “VK CEO” to “Porn King.” More than a decade later, Durov's anti-authoritarian stance and his penchant for moderation have landed him in even deeper trouble. […]
Disney CEO Bob Iger ‘obsessed’ with finding his replacement
Disney CEO Bob Iger said the company remains committed to finding a successor before he retires in 2026 after a failed search for a replacement for the previous CEO. Iger said on Kelly Ripa's podcast earlier this month that he is “obsessed” with the search for talent after he returns as chief executive in 2022. […]
Telegram’s CEO Charged In France, Banned From Leaving Territory
Telegram founder Pavel Durov was indicted by French prosecutors on Wednesday for allegedly illegally using the platform. He faces six charges: Remaining French territory, Politico ReportedHe was arrested at Paris' Le Bourget airport and has been in domestic custody since Saturday. Durov's bail has been set at 5 million euros. Or $5.56 million, CNN ReportedAdditionally, […]
Abercrombie shares plunge 16% as CEO warns of ‘increasingly uncertain environment’
Abercrombie & Fitch shares plunged 17% on Wednesday after the company's CEO warned of an “increasingly uncertain environment ahead,” the first time in four quarters that the company cited cautious consumer sentiment. The company reported better-than-expected quarterly earnings and raised its full-year sales target, but its shares tumbled even as investors were banking on even […]