Nelson Peltz seeks seats on Disney board
Nelson Peltz, founder and chief executive officer of Trian Fund Management, during the Future Investment Initiative (FII) Institute Priority Summit in Miami, Florida, US, on Thursday, March 30, 2023. Marco Bello | Bloomberg | Getty Images Activist investor Nelson Peltz and his firm are seeking more than two seats on Disney’s board, according to a […]
Ulta Beauty (ULTA) Q3 2023 earnings
Shares of Ulta Beauty rose in after-hours trading Thursday, as the company said its third-quarter sales rose while shoppers showed once again they’re willing to spend on fragrances, skin care and more even when the budget is tight. The specialty beauty retailer raised the bottom end of its range for full-year sales and earnings expectations. […]
Opinion: Salesforce’s big growth era seems over, which may prompt return to its old ways
Salesforce Inc.’s recent financials confirmed that the cloud software giant is now in a slower growth phase, which could make the company consider returning to its old ways of driving more growth. On Wednesday, Salesforce CRM, +9.36% reported on-target fiscal third-quarter results, with revenue coming in at $8.72 billion, and shares shot up 9% on […]
Novo Nordisk sues pharmacies over impure Wegovy, Ozempic dupes
A 0.25 mg injection pen of Novo Nordisk’s weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August 31, 2023. Victoria Klesty | Reuters Novo Nordisk on Thursday said it sued two compounding pharmacies in Florida for allegedly selling impure and “potentially unsafe” drugs claiming to contain semaglutide, the active ingredient in […]
Tepper’s Panthers tenure highlights the problem of investors-turned NFL owners
David Tepper had a pair of “cartoonishly huge and grotesquely veiny” brass testicles on the desk of his office at the hedge fund he co-founded, a nugget that was in a New York Magazine story on the billionaire years before he purchased the Carolina Panthers. The decoration, of course, was a metaphor for how Tepper runs Appaloosa […]
Billionaires to transfer $5 trillion to their children
In recent months, the world’s new billionaires made more of their fortunes from inheritance than from entrepreneurship, according to the UBS Billionaire Ambitions Report. It marked the first time in the nine-year history of the report that newly minted billionaires accumulated more wealth from inheritance than starting a business. Fifty-three heirs inherited a total of […]
China is experiencing an exodus of foreign investment and talent. Xi Jinping is worried.
The signs of historically weak overseas investment in China are everywhere. And not just in the traditional sense of FDI — or foreign direct investment — inflows, though those are at record lows. Demand for Chinese goods is weak. Foreign companies continue to shift parts of their supply chains elsewhere. Even student exchanges and tourist […]
Ford reinstates 2023 guidance, says UAW deal to cost $8.8 billion
NEW YORK – Ford Motor on Thursday reinstated 2023 guidance after pulling its forecast last month due to the impacts of labor strikes and negotiations with the United Auto Workers union. The guidance calls for $10 billion to $10.5 billion in adjusted earnings before interest and taxes, or EBIT, and adjusted free cash flow of […]
Here was Linda Yaccarino’s response after Elon Musk’s obscene suggestion to fleeing advertisers
Linda Yaccarino hasn’t reached boiling point yet. Yaccarino, the chief executive of X, reportedly sat stone-faced as her boss Elon Musk insulted rather than courted high-profile advertisers that have left the platform. A chronology of Musk’s remarks are here. Musk said he sometimes says things he regrets and also that users will be angry if […]
Major League Pickleball asks players to take 40% pay cut
Thomas Wilson of the LA Mad Drops hits a volley shot during the MLP Mesa Premier League Championships at Legacy Sports USA on January 29, 2023 in Mesa, Arizona. Bruce Yeung | Getty Images Pickleball’s rapid growth may be coming back down to reality. Major League Pickleball is requesting that players consent to compensation reductions […]
