ISS Urges Tesla to Reject Musk’s $1tn Package

 

Proxy adviser ISS urged Tesla investors to vote down Elon Musk’s proposed $1tn pay package, citing its striking magnitude and a lack of binding safeguards to keep him focused as he juggles other ventures. The recommendation lands before the Nov 6 annual meeting, where the plan—tied to steep market, earnings...

Apple to cut iPhone Air production

 

Apple plans to cut iPhone Air production by one million units after underwhelming sales, Mizuho Securities says. Meanwhile, iPhone 17 Pro and Pro Max are outperforming last year’s models, and the standard iPhone 17 is a major success versus iPhone 16. Apple will raise output of other models by two...

Porsche CEO Blume Steps Down; VW Role Remains

 

Porsche said CEO Oliver Blume will step down from the sports carmaker while remaining at the helm of parent company Volkswagen, ending his much-criticized dual role. Shareholders had warned the arrangement posed an excessive workload and conflicts of interest; one asset manager called him a “part-time CEO.” Porsche named former...

Eva Air apologizes after text to deceased employee

 

Taiwan’s Eva Air apologized after a staffer texted the family of a 34-year-old flight attendant, surnamed Sun, requesting leave paperwork days after her death. Sun reportedly fell ill on a 24 September flight from Milan to Taoyuan, was hospitalized on arrival, and died on 8 October; the cause has not...

China Rare Earths Curbs Rattle US Truce

 

China’s Ministry of Commerce, via “Announcement No. 62 of 2025,” imposed sweeping new curbs on rare earth exports, requiring approval and declared end-use even for products with trace amounts. The move tightened Beijing’s grip on critical minerals and jolted a fragile US-China tariffs truce. President Donald Trump threatened 100% tariffs...

AWS Memos Flag Startups' Shift to AI

 

Internal "Amazon Confidential" memos warn AWS is facing a fundamental shift as startups delay adopting its cloud and spend early budgets on AI models, inference, and GPU services that are easier to switch. YC's 2024 cohort leaned heavily on OpenAI and Anthropic, while use of multiple AWS services slipped; even...

Airlines warn shutdown threatens bookings as disruptions emerge

 

United Airlines CEO Scott Kirby warned the federal shutdown could weaken public confidence and hurt bookings if it drags on, though he said it hasn’t yet dented the carrier’s business. Delta’s Ed Bastian issued a similar caution, while noting operations remain unaffected. The shutdown, which began Oct. 1, has essential...

DOE Finalizes $1.6B AEP Grid Loan

 

The Energy Department finalized a $1.6 billion loan guarantee for AEP Transmission to replace nearly 5,000 miles of power lines in Indiana, Michigan, Ohio, Oklahoma and West Virginia, boosting reliability and capacity for largely fossil fuel-run energy as data centers and AI drive demand. The first award under the Energy...

Heirs Rarely Keep Benefactors’ Wealth Advisors, Survey Finds

 

More than $120 trillion is set to change hands over the next 25 years, yet most heirs won’t stick with their benefactors’ wealth advisors, Cerulli Associates reports. Only 27% of future beneficiaries plan to keep the advisor, and among those who already inherited, just 20% did. Many switch because they...

Nestle to cut 16,000 jobs, shares rise

 

Nestle will cut 16,000 jobs over two years as new CEO Philipp Navratil shifts the Swiss company toward products with “highest potential returns.” Announced alongside stronger nine‑month 2025 sales, the plan targets 12,000 white‑collar roles and aims to save about 1bn SFr annually. Shares rose 7.5% after the update. Navratil...