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  • Business
    Reuters

    Paramount assures bonus payouts for co-CEOs even if they exit roles

    Co-CEOs George Cheeks, Chris McCarthy and Brian Robbins would receive an additional 100% of their base salary, along with restricted share units valued at $3 million each. These three Paramount executives were appointed as co-CEOs on April 29, succeeding Bob Bakish, who left the position due to disagreements with the company's controlling shareholder, Shari Redstone. The change in compensation comes at a time when Paramount is aiming to reduce annual costs by $500 million ahead of its merger with Skydance Media.

  • Business
    Yahoo Finance Video

    Financials, oil and inflation, bitcoin: Market Takeaways

    All three major indexes (^DJI,^GSPC, ^IXIC) closed lower on Tuesday. Yahoo Finance markets and data editor Jared Blikre joins Josh Lipton on Asking for a Trend to break down his key takeaways from the trading day. The financial sector (XLF) leads the market so far this month compared to all other S&P 500 sectors as Big Banks report third quarter earnings. Oil prices (CL=F, BZ=F) diverge from inflation expectations amid macroeconomic uncertainty. Bitcoin (BTC-USD) shows signs of breaking out as it hovers around $67,000. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. This post was written by Naomi Buchanan.

  • Business
    The Canadian Press

    Oil plunge drags down S&P/TSX composite, as tech stocks also take a hit

    Falling energy prices tugged Canada’s main stock index downward on Tuesday as producers responded to developments in the Middle East and China.

  • Business
    Yahoo Finance Video

    Wolfspeed CEO on $750M CHIPS grant, domestic chip production

    EV chipmaker Wolfspeed (WOLF) is set to receive a $750 million CHIPS Act grant from the US government. Wolfspeed CEO Gregg A. Lowe, joins Asking for a Trend to discuss the grant and how it will contribute to the company's growth. Lowe explains that the funding will go toward expanding two of its facilities in North Carolina and New York, and ultimately drive scale, which will "help keep the advantage of this technology in the United States." As Wolfspeed seeks to grwo, it has also been focusing on workforce development by teaming up with local colleges, universities, and technical schools. Lowe points to a partnership with the North Carolina Agricultural and Technical State in Greensboro, which graduates more Black engineers than any other school in the US. "So the workforce development has been something we've been working on now for quite some time and we've had a really good success rate in bringing people into our company," he explains. With the government's efforts to reshore critical industries like chipmaking, Lowe tells Yahoo Finance, "the semiconductor industry is definitely taking a very strong position of rebuilding that capability here in the United States." He emphasizes the importance of keeping its silicon carbide technology in the US to dispel any worries about trade secrets and intellectual property. "It's just something that has been part of our DNA since the founding of the company nearly 40 years ago. And we've just said, look, this technology is too important. And we just can't have it manufactured outside the United States, especially in Asia," Lowe says. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. This post was written by Melanie Riehl