Reuters | |

Eli Lilly and Co said on Tuesday Chief Financial Officer Josh Smiley resigned after an independent investigation found inappropriate personal communication with some Lilly employees.

Lilly said it was recently made aware of allegations of an inappropriate personal relationship between Smiley and an employee, and the company immediately hired external counsel to conduct an independent probe.

The investigation revealed consensual though inappropriate personal communications between Smiley and certain Lilly employees, and behavior that Lilly leadership thought exhibited poor judgment by Smiley, the company said.

Reuters | |

JPMorgan Chase & Co CEO Jamie Dimon has led calls for companies to consider the needs of workers, communities and customers as well as those of shareholders.

But now it is clear: investors come first.

That is how activist investor John Harrington interprets a recent decision by JPMorgan’s board - chaired by Dimon - not to convert itself to a “public benefit corporation,” a Delaware legal structure gaining attention among would-be financial reformers.

Kimberly Redmond | |

Social media platforms took steps during the second half of 2020 towards addressing misinformation related to the U.S. presidential election and COVID-19, but a new study says more must be done.

An audit conducted by advertising agency IPG Mediabrands examined how well the top nine social media platforms in the world adhered to media responsibility standards, including protecting children’s wellbeing, giving more transparency to advertisers, policy enforcement and user c...

Kimberly Redmond | |

A reported plan to restructure Ant Group Co from a fintech giant into a financial holding company is a “step in the right direction,” a financial analyst told CNBC Monday.

According to Bloomberg, Ant Group and Chinese regulators agreed last week on the restructuring, which would move all of the company’s businesses, such as food delivery and blockchain, into the holding company and make it subject to capital requirements similar to those for banks.

Kimberly Redmond | | Inc unveiled plans Monday to buy half of the energy produced by a huge new subsidy-free wind farm in the Netherlands.

The e-commerce giant said it reached a deal with The CrossWind consortium, a joint venture between Royal Dutch Shell and Mitsubishi Corp’s sustainable energy company Eneco, to purchase green energy, which will help Amazon reach its goal of net-zero carbon emissions by 2025, five years before its target.

Kimberly Redmond | |

MyPillow chief executive officer Mike Lindell may soon face legal action from Dominion Voting Systems Inc for continuing to spread falsehoods that the company’s voting machines played a role in alleged election fraud and that former President Donald Trump actually won the 2020 election.

In response to Lindell’s repeated taunts that he hopes Dominion sues him, the company said Sunday “at some point we may well oblige him,” CNN reported.

During an interview on “Reliable Sources,” Michael Steel, Dominion’s spokesman, said, “Mike Lindell is begging to be sued.”

Reuters | |

Tesla Inc said on Monday it had invested around $1.5 billion in bitcoin and expected to begin accepting payment for its cars and other products with it in the near future, prompting a 7% jump in the electronic currency.

Tesla said in a filing the decision was part of its broad investment policy as a company and was aimed at diversifying and maximizing its returns on cash.

Reuters | |

China’s Wanda Group, the major shareholder in AMC Entertainment Holdings Ltd, conducted a share conversion to permit sales of its stock in the cinema operator, a target of the recent WallStreetBets retail frenzy, AMC said in an exchange filing.

Wanda America Entertainment Inc, a Wanda unit, converted its Class B common stock in AMC to Class A shares on Feb. 1 “in order to permit sales of its common stock,” AMC said in the filing to the United States Securities and Exchange Commission on Feb 5.

Reuters | |

Months before the irrational trading in GameStop Corp, there was Hertz Global Holdings Inc.

Operating under bankruptcy protection last spring once the COVID-19 pandemic wiped out its business, the car-rental giant confronted an extraordinary situation: Its stock price was skyrocketing for no apparent reason.

Conversations at the time among Hertz management and directors on its board, reported here for the first time, turned from shock to a vigorous debate about whether the company should capitalize on its unexpected good fortune and sell shares to fund itself during bankruptcy proceedings, according to three people familiar with the deliberations.

Reuters | |

Asian chipmakers are rushing to expand their production capacity to meet a global shortage that has been acutely felt by carmakers, but the firms warn that the supply gap may take many months to plug as they struggle to keep up with strong demand.

Automakers from General Motors to Stellantis and Honda Motor are shutting assembly lines due to the shortages, which in some cases have been exacerbated by the former U.S. administration’s sanctions against Chinese chip factories. Some firms have also furloughed staff.