(Reuters) – A Delaware judge has tossed out Elon Musk’s record-breaking $56 billion Tesla pay package, calling the compensation granted by the EV maker’s board “an unfathomable sum” that was unfair to shareholders. Following are details about Musk’s pay package. HOW WAS MUSK’S COMPENSATION STRUCTURED? Musk’s 2018 compensation package created 12 tranches of options –…
By Jeffrey Dastin and Samrhitha A (Reuters) -Tech giants on Tuesday talked up how customers are lapping up their generative AI-powered products, but mounting costs of developing the cutting-edge features irked investors hoping for a big boost to sales from the new technology. Shares of Alphabet closed 7.5% lower, while those of Microsoft fell 2.7%,…
By Jonathan Stempel NEW YORK (Reuters) – Boeing has been sued by shareholders who said the company prioritized profit over safety and misled them about its commitment to making safe aircraft, prior to the Jan. 5 mid-air cabin panel blowout on an Alaskan Airlines 737 MAX 9. According to a proposed class action filed on…
NEW YORK (Reuters) -The Federal Reserve left interest rates unchanged on Wednesday but took a major step towards lowering them in coming months in a policy statement that tempered inflation concerns with other risks to the economy and dropped a longstanding reference to possible further hikes in borrowing costs. MARKET REACTION: STOCKS: The S&P 500…
