Tag: kwexclusive
-
Disney lays off more than 300 streaming-focused employees in China
Walter Disney Co. DIS 2.16% has laid off more than 300 Beijing employees working on its streaming services, according to people familiar with the situation, as part of a cost-cutting and restructuring effort at the entertainment company. The layoffs in China come after Disney this week began implementing the first wave of cuts in a […]
-
Lyft hires new CEO as founders step back amid competitive battle
Lyft Inc., LYFT -2.74% struggles with competition and a battered stock price, taps a board member as CEO, and the two co-founders will step down from managing the company, the ride-sharing company said Monday. David Risher, who held management positions at Amazon.com Inc. and Microsoft Corp. before starting a non-profit children’s reading organization in 2009, […]
-
Rivian is bringing more engineers to the Illinois EV plant to speed up production
Electric vehicle manufacturer Rivian Automotive Inc. RIVN -0.66% is moving parts of its production engineering team to its Illinois plant as part of a reorganization aimed at speeding up production, according to a person familiar with the plan. The reorganization is expected to be announced shortly and will result in a significant portion of the […]
-
The founder of the First Republic Bank earned a high salary, just like his relatives
First Republic Bank FRC -5.03% paid family members of founder James Herbert millions of dollars for work at the lender in recent years, including for advisory services related to interest rates and risk, according to public disclosures the bank made as part of annual filings. The bank paid Mr. Herbert, who was CEO before taking […]
-
First Republic Bank asks Lazard for help with strategic options assessment
First Republic Bank FRC 29.47% strengthens his ranks of advisors as the troubled lender tries to stay afloat and plan for a post-crisis future amid a transatlantic crisis of confidence in the banking system. The Bank of California this week tapped Lazard Ltd. LAZ 3.23% to help assess strategic options, such as a sale, a […]
-
JPMorgan CEO Jamie Dimon leads efforts to create new First Republic Bank Rescue Plan
Discussions, while tentative, focused on how the industry could arrange an investment that would bolster the bank’s capital, according to people familiar with the matter. One of the options on the table, people said, is an investment in First Republic by the banks themselves. Eleven major banks joined forces last week to deposit $30 billion […]
-
First Republic Bank in bailout talks with America’s largest lenders
The largest banks in the US, including JPMorgan Chase JPM 1.62% & Co., discuss a joint rescue of First Republic Bank FRC -13.67% that could include a significant capital injection to prop up the beleaguered lender, people familiar with the matter said. JPMorgan partners with Citigroup Inc., C 0.73% bank of America Corp. and Wells […]
-
Fed considers stricter rules for medium-sized banks after SVB, signing errors
WASHINGTON — The Federal Reserve is reconsidering some of its own rules regarding medium-sized banks following the collapse of two lenders, potentially expanding restrictions that currently only apply to the largest Wall Street firms. A series of tighter capital and liquidity requirements are being reviewed, as are steps to bolster annual “stress tests” that assess […]