Former Xerox boss Ursula Burns was tapped as chairwoman of Teneo as the embattled consulting firm grapples with the resignation of CEO Declan Kelly over drunken behavior at a charity event. The ex-Xerox CEO said she will focus on improving Teneo’s culture while also maintaining and growing the firm’s illustrious roster of well-heeled corporate clients, … Read more
The British cofounder and CEO of a $2 billion Miami-based startup says he can’t get back into the US because of what he called the “broken” US immigration system. “I’m banned from entering the US until next year. Yep, it sucks,” tweeted Harry Hurst, the co-CEO of Pipe, which helps startups with recurring revenues get … Read more
AMC said Tuesday that it will scrap a controversial proposal to issue up to 25 million new shares of its surging stock, citing a mixed response to the idea from investors. The world’s largest movie-theater chain — which has been a key beneficiary of this year’s “meme stock” frenzy — said in a securities filing … Read more
Shares of three Chinese companies that recently went public on US exchanges plummeted on Tuesday as investors reacted to news that the Chinese government is investigating the tech firms. Shares of ride-hailing giant Didi tanked more than 25 percent at the open Tuesday morning to about $12 per share. Full Truck Alliance, which bills itself … Read more
Enlarge Image A prototype of an electrical air-taxi drone by German start-up Volocopter that takes off and lands vertically performs a non-passenger flight over Le Bourget airport, near Paris, France, June 21, 2021. REUTERS BERLIN – German flying taxi startup Volocopter said on Tuesday it was acquiring long-time partner DG Flugzeugbau, in a step that secures its compliance with … Read more