Business
Peloton CEO announces departure with company to axe 15% of headcount, as embattled fitness unicorn continues to lose pace
On Thursday, the company announced a new restructuring program to reduce annual expenses by more than $200 million. Read More
Stocks making the biggest premarket moves: Peloton, Carvana, Cigna, Qualcomm and more
Names on the move ahead of the open.
Publicly traded Bitcoin mining firm Stronghold may sell itself in wake of latest ‘halving’
CEO Greg Beard is set to announce the plan on an earnings call later today. Read More
Ex-DFS regulator raises $5.1 million for crypto venture fund backed by Winklevoss twins and Robert Leshner
Matthew Homer was formerly an executive deputy superintendent at the New York Department of Financial Services. Read More
Uber targeted with $300m lawsuit from London black cab drivers
Cabbies say Uber illegally obtained a license in 2012, undercutting a skill that takes four years to learn. Read More
5 things to know before the stock market opens Thursday
Here are the most important news items that investors need to start their trading day.
Viral squatting stories are scaring homeowners. How bad is the problem really?
Squatting stories have garnered national outrage in recent weeks. Experts say homeowners can rest easy. Read More
US cattle prices drop as traders fear bird flu outbreak could knock demand
Agriculture department has banned infected cattle from crossing state borders
TSB looks an odd fit for BBVA’s Spanish acquisition
British bank is subscale, were BBVA to want to generate some UK growth, and a sale makes more sense
Trump trial resumes with testimony from lawyer behind Stormy Daniels hush money payment
Donald Trump is set to return to his criminal hush money trial in New York after Judge Juan Merchan held ...
Moderna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold
The company reiterated its full-year 2024 sales guidance of roughly $4 billion, which includes revenue from the expected launch of ...
AI boom still running hot as SK Hynix says its already sold majority of its 2025 allotment of high-bandwidth memory chips
Comments from CEO of SK Hynix, the world’s second largest memory chipmaker, suggest the shortage of AI-related chips isn’t ending ...
US nears completion of $320mn floating pier for Gaza aid
Project aims to get around Israeli politics and bureaucracy that prevents goods reaching the besieged strip
Puig is poised for a $15 billion IPO, but CEO Marc Puig has a ‘self-disempowerment’ plan to stop his family from controlling the Spanish beauty empire
CEO Marc Puig thinks setting “difficult filters” even for family members is the best way to practice “meritocracy.” Read More
Hong Kong launches insider trading case against Segantii Capital
Regulator brings criminal proceedings against hedge fund, its founder Simon Sadler and former trader Daniel LaRocca
Richard Branson says it’s ‘very sad’ when people measure wealth as success and finds being called a billionaire ‘insulting’
“Maybe in America, ‘billionaire’ is a sign of success, but that rankles me,” Richard Branson, who has an estimated net ...
John Swinney enters race to be next first minister of Scotland
Scottish National party grandee says he would offer Kate Forbes ‘significant’ job in government if elected
Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff
Peloton announced Thursday that CEO Barry McCarthy will be stepping down just over two years after he took over from ...
Wayfair’s losses narrow by more than $100 million after layoffs, even as sales dip
Wayfair’s sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting ...
Swedish companies are going bankrupt at a ‘remarkable’ rate, surging 72% since last year
Last month 942 companies went bankrupt, marking the highest April total since 1994. Read More
Universal Music ends boycott of TikTok with new licensing deal
Agreement will mean ‘improved remuneration’ for songwriters and artists, says world’s largest record group
Novo Nordisk expects 27% sales surge this year but faces price pressure amid Eli Lilly competition
The market for obesity treatments may soar above $80 billion by 2030 according to analysts. Read More
World’s largest olive oil producer says the industry faces one of its toughest moments ever
Spain’s Deoleo says the industry must undergo a “profound transformation” as it grapples with one of the most challenging moments ...
Amazon CEO Andy Jassy broke labor law with anti-union remarks, judge rules—and tells the online giant to remind employees of their rights
Amazon said it strongly disagrees with the ruling and plans to appeal. Read More
SocGen trader fired for ‘unauthorised’ bets says ‘risk team and bosses’ share blame
Kavish Kataria complains of losing his bonuses and claims his options trades made money
‘Time is running out’ to build more electric truck chargers in Europe
Daimler Truck, Volkswagen’s Traton, and Volvo are planning to spend $534 million to install at least 1,700 chargers in Europe. Read ...
Shell urged to return cash to shareholders after beating first-quarter forecasts
Europe’s largest oil and gas company increases production and maintains share buybacks at $3.5bn
Red Sea trade disruption could last until next year, warns Maersk
Shipping group raises forecast on higher volumes but fears new vessels from competitors will lead to overcapacity
Taylor Swift’s music returns to TikTok after Universal Music agrees new licensing deal, ending spat
In a statement Thursday, UMG said the new licensing deal would lead to the return of its artists’ music to ...
Sunak’s political fate hangs on results of local elections
Conservative MPs await voters’ verdict in more than 2,600 council seats and 11 mayoralties in England and Wales
