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.
A record 4.5 million Americans quit their jobs in November as people continue to take advantage of red hot job market. The resignation rate is now the highest in the two decades the government has kept records, with many people voluntarily leaving their current jobs for other opportunities. Harley Lippman, CEO of Genesis 10, discusses how why so many people are quitting their jobs right now, and how the tech sector is being impacted.
Michelle Krebs, Executive Analyst at Cox Automotive, discusses the factors that led to Toyotas sales growth and highlights the challenges automakers have shifting to all-electric fleets.
The December jobs report was a mixed bag, with the U.S. adding just 199,000 jobs, less than half of the 422,000 forecasted. But there were some bright spots - the unemployment rate fell to a pandemic-era low of 3.9% and wages increased better than expected to 4.7% year-over-year. Heather Boushey, member of President Biden's council of economic advisers, joined Cheddar to gives her reaction to the jobs report, as well as an update on the state of the Build Back Better bill.
Amy Landers, Director of the Intellectual Property Concentration at Drexel University, breaks down what the Google-Sonos lawsuit means for consumers and addresses concerns about big corporations monopolizing patents within specific industries.
Kris Ruby, CEO of Ruby Media Group, talks about the challenges brands have retaining customers and how crypto is becoming a popular reward among brands.
While the pandemic caused financial troubles for many, the unique circumstances of the last two years proved helpful to many Americans. Whether it was the federal government's stimulus checks, expanded unemployment insurance, or general lockdowns, recent data reveals that the covid-19 pandemic helped many reach financial security. Neale Godfrey, Financial Expert and New York Times #1 Best Selling Author joined Cheddar's Opening Bell to discuss.
Take-Two Interactive is set to buy Zynga for $12.7 billion. The deal marks the latest blockbuster acquisition in the video game industry. The massive deal will bring the maker of popular mobile games like 'Farmville' and 'Words with Friends' under the scope of Take-Two, the company behind 'Grand Theft Auto' and 'NBA 2K.' Kenny Rovello, President & Co-Founder of Arkadium, joined Cheddar's Opening Bell to discuss.
GameStop is getting into the NFT and crypto space. The video game retailer announced the launch of an entire division aimed at creating a marketplace for NFTs and other crypto partnerships. The move comes as part of a turnaround plan by GameStop which has struggled in recent years as gamers shift away from physical game releases. Patrick McConlogue, CEO, Overline & Former Citadel Investment Group Engineer joined Cheddar's Opening Bell.
Philip Levine, Former Mayor of Miami Beach & Cruise Industry Expert, breaks down the challenges cruise operators are facing as COVID-19 cases rise, and provides insight on what the future of the industry may look like.
Jill Klindt, CFO of Workiva, talks about the challenges corporations have implementing ESG initiatives and how CFO's can build a trusted sustainable future.
