Office Depot, Inc. ("Office Depot" or the "Company") (NASDAQ: ODP), a leading integrated business-to-business distribution platform of business services and supplies, today announced that following the completion of its previously announced feasibility review, its Board of Directors approved proceeding with the implementation of a holding company reorganization...
Shockwaves went through the film and TV community this morning when Disney , one of the biggest media companies in the world, became the first entertainment conglom of that size to implement massive pay cuts related to the ongoing coronavirus pandemic...
WASHINGTON/CHICAGO (Reuters) - Airlines must suggest possible compensation in return for government cash assistance and agree to conditions that include not cutting pay or laying off employees through Sept. 30, the U.S. Treasury Department said in guidelines issued on Monday as it prepares to quickly hand out $25 billion...
Activist investor Starboard Value LP has built a stake in U.S. data protection and data management software company Commvault, saying in a regulatory filing that it felt the shares were undervalued when it purchased them...
When Papa John’s signed Shaquille O’Neal to a major partnership one year ago that included nine franchises and a board seat, it was seen as a major turning point for the brand. The company had spent $50 million in 2018 to scrub founder John Schnatter’s face from pizza boxes and delivery vans, and O’Neal, a high-demand product endorser, will clearly be the marketing face of the brand moving forward...
We have seen our fair share of CEOs enriching themselves at the expense of their shareholders and employees. They’ve been richly awarded with lucrative pay packages as their companies have engaged in aggressive stock buybacks, which boosted the value of their stock and options holdings...
Harley-Davidson Inc. and its shareholder Impala Asset Management LLC have settled a potential proxy contest under an agreement that will see Impala withdraw its plan to nominate two candidates to the motorcycle manufacturer's board of directors...
An activist investor is stepping up calls for the board of HC2 Holdings Inc to remove Chief Executive and Chairman Philip Falcone as the former hedge fund manager faces mounting legal and financial troubles." data-reactid="23">BOSTON (Reuters) - An activist investor is stepping up calls for the board of HC2 Holdings Inc to remove Chief Executive and Chairman Philip Falcone as the former hedge fund manager faces mounting legal and financial troubles...
OSAKA (Kyodo) -- Kansai Electric Power Co. on Monday pledged to improve its corporate governance in the wake of a scandal in which the former ...
Tegna confirmed Sunday that two suitors for the station group have recently withdrawn acquisition offers, citing the upheaval in the broader marketplace caused by the coronavirus crisis. Tegna ’s statement is the company’s first acknowledgement that it has received four unsolicited acquisition offers in recent weeks...
Billionaire investor Bill Ackman, the CEO of hedge fund firm Pershing Square Capital, is now calling on President Trump to unleash a massive infrastructure program to bolster the U.S. economy that's reeling from COVID-19. "Mr. President, why don't you launch the biggest infrastructure program of all time now? Roads, bridges, and other infrastructure involve outdoor work that allows for social distancing...
Yesterday, the Securities and Exchange Commission announced awards totaling over $570,000 to two whistleblowers paid out by the investor protection fund. The first will receive a whistleblower award of approximately $478,000, and the other will receive the remainder...
Leaders in the retail and supply chain industries are undergoing a transformation in terms of leadership, with board of directors and top executives experiencing a variety of changes...
BP and climate-focused Follow This have agreed to jointly draft a shareholder resolution on BP’s climate goals for its 2021 AGM An activist group has withdrawn a shareholder resolution urging BP to adhere to the Paris climate agreement after the oil and gas company agreed to work together on a joint resolution...
Early this morning, Sony announced that it would be spinning off its entire “Electronics Products & Solutions” (EP&S) segment—including its imaging and mobile businesses—into an intermediate holding company called “Sony Electronics Corporation.”...
NEW YORK, March 25, 2020 (GLOBE NEWSWIRE) -- Medical Resource Acquisition Group, LLC (MRAG), an investment company focused on facilitating the advancement of innovative healthcare companies, intends to ensure Rockwell Medical, Inc. (RMTI; NASDAQ) shareholders will not have their voting rights suppressed by the Rockwell Board of Directors...
It’s not like any of this is unexpected news. Just last June 2019 Daniel Loeb wrote in an open letter that, “Sony’s semiconductor business is dramatically underappreciated by the market despite its position as the global leader in image sensors with over 70% revenue market share of the smartphone image sensor market.
Moody’s chopped its rating on SoftBank Group debt by two notches Wednesday. The move came as a surprise to the Japanese telecom giant, which responded by asking Moody’s to withdraw all of its ratings on the company , arguing that the ratings agency has “biased and mistaken views.” The spat comes at a surprising moment. SoftBank shares (ticker: SFTBY) have had a big run over the last few days, up 55% since Friday...
The hedge fund manager Bill Ackman has claimed his firm made $2.6B (£2.2bn) betting that the coronavirus outbreak would cause a market crash, barely a week after warning that “hell is coming” for US companies...
As the coronavirus ravages much of the retail sector, a number of companies have opted to forgo the salaries of some of their top executives or reduce pay for other senior leaders to keep businesses and many of their workers’ jobs intact...
In bid to turn around, the company is changing its board, cutting salaries and slashing capital budget Occidental Petroleum Corp., the largest oil producer in the giant Permian Basin, has ceded to activist investor Carl Icahn’s demands and announced deep spending cuts in a bid to survive the steepest crude-price plunge in decades...
Occidental Petroleum Corp. is cutting salaries for its U.S. employees by up to 30% in a bid to slash expenses, according to an internal email reviewed by The Wall Street Journal...
USA Technologies Sends Letter to Shareholders Highlighting Board’s Repeated Attempts to End Unnecessary and Distracting Proxy Contest Launched by Activist Investor Hudson Executive Capital...
BOSTON — Several investors who push management to perform better are trying to raise hundreds of millions of dollars in new cash to buy stakes in companies beaten down by a historic market selloff, four people familiar with their plans said on Tuesday...