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    1. Credit Suisse has Picked Outgoing Lloyds Bank CEO António Horta-Osório as its Next Chairman

      Credit Suisse has Picked Outgoing Lloyds Bank CEO António Horta-Osório as its Next Chairman
      • Credit Suisse announced Tuesday that outgoing Lloyds Banking Group CEO António Horta-Osório would be its next chairman.
      • Current chairman Urs Rohner will step down in 2021, after working at the Swiss bank for a decade.
      • News of Horta-Osorio's appointment at Credit Suisse came a day after Lloyds Bank announced his replacement as CEO, HSBC banker Charlie Nunn.
      • Visit Business Insider's homepage for more stories...
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    2. Lloyds has Named Charlie Nunn, a Senior Banker at Rival HSBC, as its Next Chief Executive

      Lloyds has Named Charlie Nunn, a Senior Banker at Rival HSBC, as its Next Chief Executive
      • Lloyds Bank named Charlie Nunn, head of wealth and personal banking at rival HSBC, as its next CEO on Monday.
      • Current Lloyds boss Antonio Horta-Osorio is stepping down in 2021 after a decade at the bank.
      • Nunn may not take up his new job for almost a year from now, because of his notice period and other restrictions. If Horta-Osorio leaves first, CFO William Chalmers could step in as interim CEO, Lloyds said...
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    3. Gilead Sold $873 Million Worth of its Antiviral COVID-19 Treatment Even Though Data on its Success Remains Mixed

      Gilead Sold $873 Million Worth of its Antiviral COVID-19 Treatment Even Though Data on its Success Remains Mixed
      • Gilead posted its first numbers detailing how much money the pharmaceutical company has made through Veklury, a COVID-19 antiviral treatment.
      • Gilead sold $873 million worth of Veklury, also known as remdesivir, in three months.
      • The FDA authorized Veklury as the first antiviral treatment approved to treat COVID-19 patients.
      • Studies on the effectiveness of Veklury present mixed results...
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    4. Former Starbucks CEO Howard Schultz once reportedly advised Adam Neumann to stop growing WeWork so quickly and fix its problems. Neumann responded 'F--- that.'

      Former Starbucks CEO Howard Schultz once reportedly advised Adam Neumann to stop growing WeWork so quickly and fix its problems. Neumann responded 'F--- that.'
      • Former WeWork CEO Adam Neumann met with former Starbucks CEO Howard Schultz in 2018, according to the new book "Billion Dollar Loser" by Reeves Wiedeman.
      • At the time, Neumann was interested in expanding into retail, and Schultz gave him advice: stop growing for six months in order to correct problems within your business before they come back to haunt you...
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      Mentions: IPO SoftBank Founder
    5. Federal Inquiries, Allegations of Sexual Assault, a Resignation, and Billions on the Line: Here's Everything you need to Know About Nikola and its Founder's Controversial Last 5 Weeks

      Federal Inquiries, Allegations of Sexual Assault, a Resignation, and Billions on the Line: Here's Everything you need to Know About Nikola and its Founder's Controversial Last 5 Weeks

      In early September, automotive giant General Motors announced a $2 billion deal with electric-vehicle startup Nikola, with plans to produce the Nikola Badger, an electric pickup truck. But just two days after the deal was announced, a short seller released an explosive report claiming that Nikola faked its technological achievements, which spurred federal inquiries, a resignation, and speculation about the future of the deal...

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    6. British Airways' CEO Alex Cruz Steps Down Amid the Industry's Worst-Ever Crisis, and is Replaced by Aer Lingus Boss Sean Doyle

      British Airways' CEO Alex Cruz Steps Down Amid the Industry's Worst-Ever Crisis, and is Replaced by Aer Lingus Boss Sean Doyle
      • British Airways boss Alex Cruz is stepping down, and will be replaced by Aer Lingus CEO Sean Doyle.
      • The owner of British Airways, International Airlines Group, said the airline industry was facing its worst crisis in history.
      • Cruz told a government committee in September that the airline was burning through £20 million ($25.9 million) a day and "fighting for its survival...
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    7. LVMH Has Countersued Tiffany Over the Firms' $16 Billion Merger, Accusing the Jeweler of Financial Mismanagement

      LVMH Has Countersued Tiffany Over the Firms' $16 Billion Merger, Accusing the Jeweler of Financial Mismanagement
      • LVMH countersued Tiffany on Monday, and said it remains confident that it can walk away from its $16 billion takeover of the US jeweler.
      • Tiffany breached the agreement by paying out the highest possible dividends during the pandemic, French luxury goods conglomerate LVMH claimed in the countersuit.
      • A letter to LVMH from the French government also made it “impossible” to close the deal before the deadline, it added...
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    8. UBS Chairman Brings in External Consultants for Potential Merger With Credit Suisse

      UBS Chairman Brings in External Consultants for Potential Merger With Credit Suisse
      • External consultants are helping UBS create a potential merger deal between the two largest Swiss banks, Credit Suisse and UBS.
      • It would be the biggest deal since UBS merged with Basler Bankverein in 1997.
      • UBS and Credit Suisse told Business Insider that they don’t comment on “market rumors and speculations...
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    9. The CEO of Secretive Data Analysis Startup Palantir Made Over $12 Million Last Year, and Will Get $800,000 in Travel Stipends in 2020

      The CEO of Secretive Data Analysis Startup Palantir Made Over $12 Million Last Year, and Will Get $800,000 in Travel Stipends in 2020
      • In SEC paperwork to go public, secretive data company Palantir revealed its CEO Alexander Karp made $12 million last year and had a travel stipend of $600,000.
      • Karp also was compensated for nearly $1 million for "the person use of chartered aircraft."
      • Palantir filed IPO paperwork the day after a slew of unicorn-status enterprise tech startups filed to go public...
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      Mentions: IPO stock options SEC
    10. Three Top WarnerMedia Execs Are Exiting the Company Amid a Major Shakeup Under New CEO Jason Kilar

      Three Top WarnerMedia Execs Are Exiting the Company Amid a Major Shakeup Under New CEO Jason Kilar
      • New WarnerMedia CEO Jason Kilar is shaking up the company's leadership ranks in a major reorganization that will see three top execs depart the company.
      • The key departures include Bob Greenblatt, chairman of WarnerMedia Entertainment and Direct-to-Consumer; Kevin Reilly, HBO Max's content chief and president of TNT, TBS, and TruTV; and Keith Cocozza, executive vice president, corporate marketing and communications...
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    11. Ford's CEO Switch-Out Shows that the Automaker is Still a Family Business — and that Bill Ford is Still in Charge

      Ford's CEO Switch-Out Shows that the Automaker is Still a Family Business — and that Bill Ford is Still in Charge
      • Ford announced on Tuesday that CEO Jim Hackett will retire October 1 and be replaced by current COO Jim Farley.
      • Ford remains a family business, overseen by Bill Ford, the company's chairman and great-grandson of founder Henry Ford.
      • The carmaker's share price has been in decline for years, through three different CEOs. The Ford family still controls the company — and relies on the stock...
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      Mentions: CFO Tesla stake
    12. Former L'Oréal Executive Appointed Coty's Third CEO This Year

      Former L'Oréal Executive Appointed Coty's Third CEO This Year
      • Coty Inc. is getting its third new CEO this year: longtime L'Oreal veteran Sue Nabi.
      • Nabi served as president of both L'Oreal and Lancome and also founded the skincare business Orveda.
      • She replaces Peter Harf, who will stay on as the brand's executive chairman.
      • Visit Business Insider's homepage for more stories.
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    13. Tesla Paid Elon Musk Almost $1 Million to Insure its Board Against Lawsuits, Just as Shareholders are Being Urged to Oust him over his $56 Billion Bonus

      Tesla Paid Elon Musk Almost $1 Million to Insure its Board Against Lawsuits, Just as Shareholders are Being Urged to Oust him over his $56 Billion Bonus
      • Tesla is paying CEO Elon Musk $1 million to insure its board against lawsuits for up to $100 million, SEC filings revealed on Tuesday.
      • Tesla announced in April Musk would be personally insuring its board because it said it couldn't find a reasonable quote from an insurance company.
      • Investor adviser PIRC on Tuesday separately recommended Tesla shareholders vote Musk out as CEO over his prospective $55.8 billion bonus pay package...
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    14. Tesla Shareholders Will Vote on Whether the Company Should do Something it's Never Done Defore: Advertise (TSLA)

      Tesla Shareholders Will Vote on Whether the Company Should do Something it's Never Done Defore: Advertise (TSLA)
      • A Tesla shareholder has proposed that the company spend money on advertising for the first time in its history.
      • Investors will vote on the matter in July at the company's annual meeting, but it's not likely to pass.
      • Even without ads, Tesla is worth more than most other traditional automakers and demand has largely outpaced production...
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    15. WeWork is Set to Vote on Adding 2 New Independent Board Members After Big Investors Suing SoftBank Unsuccessfully Tried to Stop It

      WeWork is Set to Vote on Adding 2 New Independent Board Members After Big Investors Suing SoftBank Unsuccessfully Tried to Stop It
      • WeWork's board is set to vote on Friday to add two temporary independent directors to the SoftBank-controlled board.
      • The duo, who bring deep business and legal expertise, would decide whether the current lawsuit against SoftBank can continue.
      • A pair of current board members – the only non-SoftBank-affiliated directors – contested the additions in court on Wednesday, arguing that the process would hurt WeWork's minority shareholders...
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