Business

Rupert Murdoch Announces Transition to Chairman Emeritus Role at Fox Corporation and News Corp.

Media mogul Rupert Murdoch, 92, has announced that he is transitioning from his roles as Chair of Fox Corporation and Executive Chairman of News Corp, and will become Chairman Emeritus at both companies. Murdoch informed colleagues in a letter, stating that he will take on different roles, knowing that the companies have talented teams and a passionate, principled leader in Lachlan Murdoch, who will become sole Chairman of both companies. Murdoch’s media empire includes FOX News Channel, which launched in 1996 under News Corp and quickly established itself as a leader in 24-hour news coverage1 2 3.

Here are the key bullet points:

Rupert Murdoch, media mogul and founder of FOX News Channel, is transitioning from his roles as Chair of Fox Corporation and Executive Chairman of News Corp, and will become Chairman Emeritus at both companies1 2 3 4 5 6.
Murdoch informed colleagues in a letter, stating that he will take on different roles, knowing that the companies have talented teams and a passionate, principled leader in Lachlan Murdoch, who will become sole Chairman of both companies1.
Murdoch’s media empire includes FOX News Channel, which launched in 1996 under News Corp and quickly established itself as a leader in 24-hour news coverage1.
Murdoch will officially make the transition in November, and his son Lachlan will become the sole chairman of both companies4 5.
Murdoch’s decision to step down as Chair of Fox Corporation and Executive Chairman of News Corp has raised questions about the future of the media empire he built over the last 50 years3 5.

Murdoch's transition to Chairman Emeritus at Fox Corporation and News Corp marks the end of an era for the media mogul and raises questions about the future of his media empire.

Unmasking the Unusual Suspect: Home Depot's Encounter with an Organized Crime Ring

In a surprising turn of events, Home Depot, a renowned home improvement retail company, found itself in the midst of an organized crime ring. The company's encounter with this unusual suspect, Robert Dell, a man who ran a drug recovery program at The Rock Community Church and Transformation

Is Costco Clothing Good Value for Money? Exploring the Quality and Cost of the Retailer's Affordable Clothing Options

Costco is known for its low prices on everything from groceries to electronics, but is its clothing actually good value for money? A recent article by The Wall Street Journal explores this question1. Here are the key takeaways from the article: The Cost * Costco clothing is known for being cheap,

Intel to Spin Off Programmable Solutions Group as CEO Pursues Turnaround

Intel, the world's largest semiconductor chip maker, has announced plans to sell a stake in its Programmable Solutions Group (PSG) as part of CEO Pat Gelsinger's efforts to turn the company around12. Here are the key takeaways from the article: The Spin-Off * Intel intends to sell

They trusted the Beverly Hills watch dealer. Then their luxury timepieces vanished: The Timepiece Gentleman consignment scam

Anthony Farrer, the founder of The Timepiece Gentleman, a luxury watch consignment company, is under fire for allegedly scamming his customers. Farrer built his empire on a simple consignment model where customers would bring their watches to his company, and Farrer would sell them12. The watches were flashy, diamond-studded Patek

Biden administration issues restrictions on gas furnaces in latest war on appliances

The Biden administration has announced its latest regulatory action targeting home appliances, this time targeting popular home gas-powered furnaces, according to a report by Fox News1. The Department of Energy (DOE) said the regulations would require furnaces to achieve an annual fuel utilization efficiency (AFUE) of 95% by 2029, meaning

Blue Origin and Sierra Space's Orbital Reef space station partnership in jeopardy

Blue Origin and Sierra Space are navigating a potential end to their partnership on the Orbital Reef space station project, according to sources who spoke to CNBC1. The companies announced Orbital Reef as a co-led project in 2021, but updates about the project dried up in the past year1. Shortly

Labor Unions Gain Power as Strikes Multiply and Workers Score Wins

The U.S. has lost seven million workdays to walkouts so far this year, the most in more than two decades2. Labor unions are exerting clout not seen in decades, winning big pay increases and better benefits in industries beset with worker shortages4. The strikes are working, and Americans are

Tesla Accused of Racial Harassment and Hostile Work Environment in California Factory

Tesla has been accused of subjecting Black employees at its California auto-assembly plant to racial harassment and a hostile work environment in a federal lawsuit filed on September 28, 20231. The lawsuit alleges that Tesla has tolerated racial harassment and discrimination against Black employees at its Fremont factory, including the

Target to Close Nine Stores Across Four States Due to Theft and Organized Crime

Target has announced that it will close nine stores in four states, including three in San Francisco, due to theft and organized retail crime that have threatened the safety of its workers and customers23456. The other stores to be closed are located in New York City's East Harlem

WSJ News Exclusive | TikTok Employees Say Executive Moves to U.S. Show China Parent’s Influence

TikTok has spent the past three years trying to convince U.S. lawmakers it can operate independently in this country from its China-based parent company, ByteDance. However, after recent personnel moves, some employees aren’t so sure. According to a report by The Wall Street Journal, TikTok employees have pointed

Trump's Mar-a-Lago Valued at $300 Million by Real Estate Insiders

According to real estate insiders, Donald Trump's Mar-a-Lago Club resort in Palm Beach, Florida, is worth at least $300 million1. This valuation comes in response to a recent ruling by Judge Arthur Engoron, who found that Trump committed fraud by inflating the value of his wealth, including the

Braun Faces Backlash for Featuring Trans Man in Ad

Braun, a shaving razor company, is facing backlash after an ad featuring a trans male model with double mastectomy scars shaving their beard resurfaced on social media. The controversial image was recently found among promotional images on Braun's website. In the image, there were double mastectomy scars on

Intel Hit with $400M EU Antitrust Fine for Anticompetitive Practices

Intel Corp. has been fined €376.36 million ($400 million) by European Union antitrust regulators for anticompetitive practices aimed at excluding competitors from the market for computer chips called x86 central processing units. The fine was imposed after an EU court had wiped out a one-time record €1.06 billion