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Klaus Kleinfeld, the Chief Executive of Arconic Inc, sent a letter to Elliott Management Corp. last week, which was not approved by his company board and which cost him his job. Arconic Inc, the US specialty metals maker which is traded on the NYSE, has been involved in a proxy war with Elliott management. Mr. Kleinfeld took it upon himself to criticize Elliott's board members again. Elliott’s president, Paul Singer, immediately complained to Arconic’s board. Mr. Singer said it viewed the letter as “a threat to intimidate or extort” the hedge fund, and further that the letter was “based on completely false insinuations”. Arconic announced last week that the letter displayed “poor judgement”, and that Mr. Kleinfeld has resigned from his
In an attempt to halt a severe defect of customers, Verizon Communications Inc. is sacrificing their bottom line and offering customers more data for lower prices.
The nation’s largest carrier by subscribers has posted quarterly net losses of wireless subscribers for the first time ever, during this year’s first three months. This shows how serious the damage of competitors T-Mobile US Inc. and Sprint Corp.’s revivals have had on Verizon wireless.
In February, in an attempt to regain
In its endless quest for resources and technology, the world’s largest nation is increasingly looking at one of the world’s smallest. Twenty-five years ago, trade between China and Israel stood at $50 million. Today, that figure has reached $11 billion.
As its economy continues to modernize and expand, China is taking its global economic rivals head-on. With an eye toward the future and the latest and greatest in tech, China thinks Israel is a smart bet to find a leg up. So much so that China
In October 2016, SpaceX and Tesla founder Elon Musk unveiled Powerwall II, a new high-performance rechargeable battery powered by a solar roof. These tinted-tile solar shingles mimic the look and feel of traditional roofing materials, replacing the bulky silicon panels that have been the norm.
“The goal is to have solar roofs that look better than a normal roof, generate electricity, last longer, have better insulation and actually have an installed cost that is less than a normal roof plus
While competition among the employees within a business can be seen as stirring productivity for the business as a whole, there are limits when it comes to banking. Morgan Stanley has come within the crosshairs of a securities regulator for running a sales contest to increase its ledger of securities-based loans which has been deemed inappropriate. Specifically, the two parties involved are James Gorman’s bank and the securities regulator of the state of Massachusetts.
Between 2013 and 2015