Tech stocks dropped sharply amid a market-wide sell-off on Friday triggered by news of a new Covid-19 variant discovered in South Africa. The S&P Global 500 fell 2.6% while the tech-heavy Nasdaq fell 2.2%. Some of the hardest hit stocks in Friday’s sell-off were ride-hailing companies Lyft and Uber, which respectively fell 5.6% and 3.7%, and rental company Airbnb, which fell 3.5%. Shares...
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Linda Yaccarino May Have the Toughest CEO Job
Here’s a question: How long can someone stay as CEO of a company when the owner of that company is publicly repudiating what they’re saying? Take Linda Yaccarino, CEO of X, previously known as Twitter. On Wednesday, Elon Musk confirmed a report in The Information about layoffs at X’s election integrity team—Musk even went further than what we reported, saying the team was “gone.” Yet in an...
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