During a video conference at the World Government Summit in Dubai, Elon Musk said that he's looking to "find someone else" to lead Twitter by the end of 2023. Between now and then, he said his goal is to "stabilize the organization" and make sure "it's financially in a healthy place."
Musk hinted in December that he would step down eventually but didn't provide specifics.
EU GAS-POWERED CAR BAN
The European Union has approved a law that will ban the sale of gas-powered vehicles from the trading bloc by 2035. In addition, the EU will require cars sold by 2030 to cut emissions by 55 percent from 2021 levels. While some automakers are resisting the rule, others are being proactive. Volkswagen said it will only produce EVs in Europe by 2033.
SUBWAY EXPLORES SALE
After weeks of speculation, Subway has confirmed that it is considering a sale. The Wall Street Journal reported last month that it had hired advisors to look into a deal that could value the company at more than $10 billion. However, "there is no indication of timing or assurance that a sale will occur," the company said in a press release. "J.P. Morgan is advising the company and will conduct the sale exploration process." Subway has more than 37,000 restaurants in more than 100 countries. Same-store sales in North America were up 7.8 percent in 2022.
Low-cost airlines Frontier and Spirit have agreed to merge in a deal worth $6.6 billion. The new company name and other terms of the deal have not been disclosed. If approved, the merger would be the fifth-largest airline in the United States. Jonathan Root, senior vice president at Moody's, joins Closing Bell to discuss the impact this deal could have on the broader airline industry, as well as why it makes sense for both discount airlines to combine.
Jet Tila, Food Network star and author of '101 Thai Dishes You Need to Cook Before You Die,' joins Cheddar News to talk about his new cookbook that's helping people cook authentic Thai recipes.
Crypto is increasingly becoming a hotspot for criminals and fraud with cryptocurrency crime reaching a record-breaking high. reports show scammers took $14 billion worth of crypto in 2021 alone. The latest crypto scam is aimed at investors in Binance. Ben Armstrong, the founder of Bitboy Crypto, joins Cheddar News to discuss.
In 2022, the FAA has received 323 reports of unruly passengers so far. Soon, flying could soon be limited to cooperative passengers only. Delta Airlines has asked the Department of Justice to put unruly travelers on a 'no-fly' list. Bryan Del Monte, president of the Aviation Agency, joins Cheddar News to discuss.
New York City’s tourism industry has seen a bumpy recovery from the pandemic, as the omicron surge delivers yet another blow to one of the world’s top tourist destinations. The arts and entertainment sector has been one of the hardest hit, with Broadway shows canceling performances once again after an industry-wide shutdown. Chris Heywood, executive vice president of global communications at NYC & Company, joined Cheddar's Fast Forward to talk about why he's confident the theater district - and the rest of the city - will eventually return to its pre-pandemic glory.
Greg Martin, Founder and Managing Director at Rainmaker Securities, discusses the benefits of Big Tech bidding for Peloton and highlights the ongoing headwinds impacting the exercise equipment maker.
SES Holdings, a leader in production of high-performance hybrid lithium-metal rechargeable batteries for electric vehicles, has arrived on Wall Street. The company went public via SPAC deal and now trades on the New York Stock Exchange under the ticker 'SES.' Qichao Hu, founder & CEO, joined Cheddar Movers to discuss the debut as well as what lies ahead for the company.
Amazon warehouse workers in Alabama are set to begin voting to unionize for a second time after workers at the facility in the town of Bessemer overwhelmingly voted against forming a union during an election early last year; but in November, the National Labor Relations Board overturned the vote, upholding a union challenge of the results which argued that Amazon undermined the conditions for a fair election. Another round of ballots will now be mailed out to works at the warehouse for a so-called re-run election. Director of Labor and Employment Studies at San Francisco State University John Logan and National Field Director for Our Revolution Mike Oles joined Cheddar News' Closing Bell to discuss.
Stocks closed near session highs Tuesday as investors eyed more strong corporate earnings reports, and prepped for Thursday CPI data which will give an idea of how hot inflation may still be running. Hugh Johnson, Chairman and Chief Economist of Hugh Johnson Economics, joined Closing Bell to discuss today's close, earnings season so far, predictions about the Federal Reserve's plan to raise interest rates, and more.
