Elon Musk declared on Wednesday at the World Government Summit in Dubai that he hopes to choose a new CEO of Twitter by the end of the year. "I believe I must first stabilize the company and then just make sure it has a solid financial foundation. I think a good moment to select a new CEO for the business would be close to the end of this year," the entrepreneur stated. Musk announced his...

The Taiwan-based shipping firm Evergreen Marine gave its staff an annual incentive equivalent to 50 monthly salaries. Evergreen tripled its 2020 level and increased its gross sales to $20.7 billion annually, up nearly 30% from 2021. According to the company, the annual bonus has occasionally exceeded 52 monthly salaries. For instance, some staff reportedly earned a $65,000 bonus on December 30...

According to Forbes USA, the wealthiest crypto-entrepreneurs have collectively lost nearly $116 billion since March. 15 of the 17 wealthiest people have lost more than half of their wealth, and three have lost everything. According to estimations by U.S. Forbes, the aggregate wealth of the 17 biggest billionaires who became rich on cryptocurrencies decreased by nearly $116 billion in the nine...

In the final months before to Robert Iger's appointment as the new CEO of the corporation, Walt Disney collaborated with the consulting firm McKinsey & Co. The experts suggested consolidating authority over significant financial decisions made outside of the creative departments. The Walt Disney Company was planning for a reorganization based on recommendations from the consulting company...

Kraken is the third-largest cryptocurrency exchange in the world by trading volume. It will let go of almost 30% of its workforce. The company blamed the upcoming layoffs on the weakened cryptocurrency marketplaces that have emerged since FTX's demise. Kraken, the third-largest cryptocurrency exchange in the world by trading volume, will reduce its workforce by around 30%. (1,100 people), wrote...

Due to a broad downturn in the stock market and a slowdown in economic activity, some significant U.S. corporations have altered the method they award top management bonuses in order to prevent them from suffering significant financial losses, says The Financial Times. Western Digital, a manufacturer of hard drives, reported that CEO David Goeckeler received $32 million in bonuses and pay this...

The Wall Street Journal reports that BJ Kang, a former FBI special agent, has been hired by Binance, the largest cryptocurrency exchange in the world, to lead the department in charge of investigations. He will be employed by the exchange's American branch and be in charge of identifying and following any questionable transactions that go through Binance, as well as collaborating closely with...

Meta has started to lay off employees by restructuring departments and giving some a short window of time to seek for other employment. Many Google employees were required to seek for new positions in order to remain with the company. According to The Wall Street Journal, American Internet behemoths Meta and Google have mandated that staff apply for transfers to different positions at the...

Gautam Adani, an Indian industrialist, came in second on the Bloomberg Billionaires Index. His estimated net worth is $147 billion, and from the year's beginning, it has increased by $70 billion. Although he passed Jeff Bezos ($147 billion), Elon Musk ($267 billion) is still well ahead of him. With a fortune of $152 billion, the Indian billionaire is ranked third by Forbes, surpassing Mr. Bezos...