Intel CEO earned 1,711 times more than average company worker in 2021

March 30 (Reuters) – Intel Corp (INTC.O) Chief Executive Officer Pat Gelsinger earned 1,711 times as much as the average worker at the US chipmaker in just 11 months since he joined in February last year, a regulatory filing showed on Wednesday. Compared to Gelsinger, former CEO Bob Swan had earned 217 times more than … Read more

EXCLUSIVE Clients plead with top custodian banks to stay in Russia

Banks face mounting pressure to commit to custody roles Banks say they will meet existing client obligations Some clients afraid exits will follow as costs soar LONDON/NEW YORK, March 23 (Reuters) – Global banks including Citigroup Inc (CN), JPMorgan Chase & Co (JPM.N) and Societe Generale (SOGN.PA) face pressure to commit to remaining as custodian … Read more

Disney employees stage walkouts to protest company response to Florida bill

LOS ANGELES, March 22 (Reuters) – Employees of the Walt Disney Co (DIS.N) staged walkouts and social media campaigns on Tuesday to protest the company’s response to Florida legislation that would limit classroom discussion of sexual orientation or gender identity. In a rare public demonstration of unrest, about 60 Disney employees gathered at a park … Read more

US SEC to Elon Musk: Regarding your tweets, a deal is a deal

NEW YORK, March 22 (Reuters) – The top US securities regulator on Tuesday urged a federal judge not to let Elon Musk escape an agreement requiring that his Twitter use be monitored, which the Tesla Inc (TSLA.O) chief executive considers part of a campaign of harassment. In a filing in the federal court in Manhattan, … Read more

Alibaba raises share buyback to $25 billion from $15 billion

A man walks past a logo of Alibaba Group at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang Register now for FREE unlimited access to Reuters.com Register March 22 (Reuters) – Alibaba Group Holding Ltd raised its share buyback program to $25 billion on Tuesday, its second increase in less than a … Read more

Buffett ends drought with $11.6 billion Alleghany insurance purchase

Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, US, May 4, 2019. REUTERS/Scott Morgan Register now for FREE unlimited access to Reuters.com Register NEW YORK, March 21 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc … Read more

EXCLUSIVE Moscow sets out strict new controls on foreigners trading Russian assets

Steam rises from chimneys of a heating power plan over the skyline of central Moscow, Russia November 23, 2020. REUTERS/Maxim Shemetov/File Photo Register now for FREE unlimited access to Reuters.com Register Russia temporarily stopped foreigners selling assets Foreigners now need to provide details before trading Applications for permits must be made in Russian language LONDON/NEW … Read more

Amazon slams Reliance takeover of Future stores as ‘fraud’ in India newspaper ads

NEW DELHI, March 15 (Reuters) – Amazon.com Inc has gone on the attack in its bitter dispute with two Indian retailers, accusing them of fraud in Indian newspaper ads on Tuesday after Reliance Industries (RELI.NS) suddenly took over many of Future Retail (FRTL.NS) stores. Amazon has been contesting the planned $3.4 billion sale of Future … Read more

Deutsche Bank rebuked over remaining in Russia as others quit

Deutsche CEO says in Russia to serve multinational customers Deutsche CEO says exit ‘would go against our values’ Investors criticizes Deutsche’s Russia presence Deutsche Bank has said monitoring situation, may adapt CEO’s 2021 pay up 20% FRANKFURT, March 11 (Reuters) – Deutsche Bank (DBKGn.DE) faced stinging criticism from some investors and politicians on Friday for … Read more

Corporate power keeps US wages 20% lower than they should be-White House

WASHINGTON, March 7 (Reuters) – With inflation at a four-decade high, a US government report shows corporate America has used its clout in the labor market to keep wages 20% lower than they should be, the White House said on Monday. The report, prepared by the Treasury Department with help from the Justice Department, Labor … Read more