Laurene Powell Jobs-Funded Ozy Media CEO Convicted in Massive Fraud Scheme
Ozzy Media’s spectacular collapse continues to claim its victims, with a New York jury convicting CEO Carlos Watson on Tuesday for his role in the company’s multimillion-dollar fraud scheme to defraud investors. He was found guilty of fraud and conspiracy during an eight-week federal trial and faces up to 37 years in prison. Ozzie Media, […]
Burberry fires CEO, names ex-Coach boss as replacement
British luxury group Burberry fired its CEO on Monday and appointed former Coach head Joshua Shulman to replace him as the company promises a “more accessible” look and pushes ahead with efforts to revive the brand by moving upmarket. The company also issued a profit warning and withdrew its dividend, sending its shares tumbling to […]
JPMorgan CEO warns inflation and rates may stay higher for longer
JPMorgan Chase & Co. Chief Executive Jamie Dimon warned that inflation and interest rates could remain higher for longer than expected, despite the three largest U.S. banks reporting strong quarterly earnings. “While there has been some progress in reducing inflation, there are still multiple drivers of inflation, including large budget deficits, infrastructure needs, trade restructuring […]
CEO Friend of Joe Biden Says ‘No Way’ He’s Dropping Out
The CEO, who is a friend of President Joe Biden, reportedly said there is “no chance” the president will back down, that he “hates” the party’s elites, and that he would tell them all to “get out.” Senior contributor at Fox Business New York PostOne CEO who knows Joe Biden well said the president will […]
Race to succeed JPMorgan’s legendary CEO Jamie Dimon widens
The battle at JPMorgan to replace CEO Jamie Dimon is heating up, even as the banking giant does a good job of keeping the mayhem from leaking to the press. The legendary financier recently shocked the banking world by saying he would step down sooner than the original five-year deadline, probably in two or three […]
Citigroup has now been fined more than half a billion dollars after CEO Jane Fraser staked her tenure on fixing the bank – Fortune
Two government regulators on Wednesday fined Citigroup Inc. $135.6 million for failing to resolve long-running internal control and risk problems, a blow to the bank’s Chief Executive Officer, Jane Fraser, who has staked her career on making the bank leaner and less complex. The penalties were imposed by the Federal Reserve and the Office of […]
CNN CEO Mark Thompson to lay off 100 employees as he discloses turnaround plans
CNN Chief Executive Mark Thompson decided on Wednesday to cut 100 jobs, his first major layoffs since taking charge of the struggling cable network. Thompson, who has mostly tweaked the morning programming since taking over the reins from Chris Licht in October, has sought to lay out a new vision for the No. 3 network. […]
Skydance CEO David Ellison — and scandal-scarred media exec Jeff Shell — signal $2B in cost cuts for Paramount
Skydance boss David Ellison and scandal-plagued media executive Jeff Shell have hinted at massive cost-cutting measures at Paramount Global as the two companies merge. Ellison, the son of tech mogul Larry Ellison, whose Hollywood production company produced “Top Gun: Maverick” and “Mission: Impossible: Dead Reckoning,” said Monday that he expects Paramount to make more than […]
Pirate Nation CEO Predicts Thousands of Dedicated Crypto Game Blockchains – Decrypt
Amitt Mahajan, founder and CEO of Proof of Play, developer of the crypto game Pirate Nation, predicts that eventually there will be thousands of purpose-built blockchains, each supporting a separate application. This was born out of Zynga’s experience developing the viral Facebook game Farmville: At the time, Zynga was running around 64 databases just to […]
Elon Musk mocks Meta CEO Mark Zuckerberg’s July 4th surfing
Mark Zuckerberg, billionaire founder and CEO of Facebook parent company Meta, has gifted himself a $300 million superyacht named “Launchpad” as his net worth approaches $200 billion. (Dutch Yachting) Elon Musk has mocked fellow tech billionaire Mark Zuckerberg for celebrating America’s birthday with a patriotic wakesurf. On July 4, Musk joined a video of a […]