Year: 2020

Twitter is one of the few U.S. technology companies headed, but not controlled, by one of its founders. It has given shareholders equal voting rights, making Dorsey, who owns only about 2% of the company, vulnerable to a challenge from an activist investor such as Elliott. Twitter shares fell last year when the company disclosed that its platform experienced glitches that hindered its ability to target ads and share data with partners. …read more […]

With concerns of the coronavirus growing into a pandemic and shoppers stocking up, experts say consumers will find more empty shelves by mid-April. …read more […]

(Bloomberg) — China’s factory activity fell to the weakest level on record after weeks of closures caused by the coronavirus outbreak, while the number of cases in South Korea continued to soar.California had its second infection from an unknown origin. The U.S. raised its travel advisory for virus-hit Italy. Federal Reserve Chairman Jerome Powell said the U.S. central bank is prepared to cut interest rates.As U.S. equities suffered their worst week since the financial crisis, President Donald Trump said his administration is prepared for “the worst.” Acting White House Chief of Staff Mick Mulvaney said school closures in the U.S. …read more […]

(Bloomberg) — Activist investor Elliott Management Corp. has taken a sizable stake in Twitter Inc. and plans to push for changes at the social media company, including replacing Chief Executive Officer Jack Dorsey, according to people familiar with the matter.The New York-based firm has nominated four directors to Twitter’s board, said the people, who asked to not be identified because the matter isn’t public.There are only three seats becoming available at this year’s annual meeting but Elliott wanted to ensure that it nominated enough directors to fill all three seats or any other vacancies that may arise, the people said. …read more […]

United Airlines Holdings Inc said on Friday it was sharply cutting flights to Japan and South Korea, as travelers worried about the coronavirus outbreak slash ticket purchases for those destinations. It also canceled its investor day that had been due to be held on March 5. With investors firmly focused on how the company is managing the near-term impact of the coronavirus, United said it was not “practical to expect that it can have a productive conversation focused on its long-term strategy next week.” …read more […]