Tesla’s first-quarter net income plummeted 55 per cent, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate the production of new, more affordable vehicles. The Austin-based company said it made $1.13 billion US from January through March compared with $2.51 billion US in the same period a year ago. … Read more
Lightspeed Commerce is cutting about 280 jobs, less than two months after its founder returned to the helm of the Montreal-based technology company. After integrating the company’s many acquisitions, “Lightspeed is now entering a new phase, one focused on profitable growth to capture the opportunity in front of us,” said founder and chief executive Dax Dasilva. … Read more
Boeing CEO Dave Calhoun will step down from the embattled plane-maker at the end of the year as part of a broader management shuffle, capping a tumultuous five-plus years that have shaken faith in one of the U.S.’s most-storied manufacturers. In a letter to employees announcing his departure, Calhoun wrote that the company is focused on returning Boeing “to … Read more
Bell Media is ending multiple television newscasts and making other programming cuts after its parent company announced widespread layoffs and the sale of 45 of its 103 regional radio stations. News stations such as CTV and BNN Bloomberg would be affected immediately, according to an internal memo sent to Bell Media employees on Thursday. The … Read more
Exxon Mobil Corp on Sunday filed a complaint in a Texas court seeking to prevent a climate proposal by activist investors from going to a vote during the company’s shareholder meeting in May. This is the first time Exxon is seeking to exclude a shareholder proposal by filing a complaint in court. It says the … Read more
CEO pay in the oil and gas sector has soared with the industry’s post-pandemic resurgence and will likely increase even more with the completion of the Trans Mountain pipeline expansion this year, a new report projects. The report released Wednesday by the Bedford Consulting Group looked at C-Suite salaries, bonuses and other forms of executive … Read more
The House of Representatives has subpoenaed shareholder advisors Glass Lewis and Institutional Shareholder Services as it expands a probe into whether they have violated antitrust laws by coordinating ESG efforts with each other, On The Money has learned. On Wednesday, House Judiciary Committee Chair Jim Jordan (R-Ohio) requested what will likely amount to thousands of … Read more
