Corrections & Amplifications
CORRECTIONS The last name of Ford O'Neil, a Fidelity portfolio manager, was misspelled as O'Neill in a Page One article on Tuesday about U.S. stock markets. Qatar's population is about three million. A World News article on Friday about the U.
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- CNN
Warner Bros. Discovery shareholders reject CEO David Zaslav's pay package
Warner Bros. Discovery shareholders voted on Tuesday to reject the pay packages for several of the company's executives, including CEO David Zaslav's compensation package of more than $50 million. Nearly 60% of the symbolic vote was against the 2024 executive payouts at Warner Bros. Discovery's annual meeting, according to a regulatory filing. The vote is non-binding. Last year, shareholders narrowly approved executive pay, with 53% voting in favor. Warner Bros. Discovery is the parent company of CNN. Zaslav, who has been CEO of Warner Bros. Discovery since 2022, when the company was created by the merger of WarnerMedia and Discovery, Inc., was paid a total of $51.9 million last year, including equity awards and other compensation. Warner Bros. Discovery's stock (WBD) declined 7% in 2024, while media competitor Netflix (NFLX) saw its stock gain more than 80% in 2024 and Disney's stock (DIS) rose 24%. Netflix's co-CEOs, Ted Sarandos and Greg Peters, were paid $61.9 million and $60.3 million last year, respectively, while Disney's Bob Iger was paid $41.1 million. The broader S&P 500 gained over 23% last year. Warner Bros. Discovery did not respond to a request for comment.


Bloomberg
2 hours ago
- Bloomberg
Moelis Hires HSBC Business Services Dealmaker Milano
Boutique investment bank Moelis & Co. is hiring HSBC Holdings Plc business services banker Mark Milano for a senior role in London, according to people with knowledge of the matter. Milano is set to start at Moelis in late June as a London-based managing director for business services in Europe, the Middle East and Africa, the people said. The 47-year-old banker, who's a Canadian and British national, joined HSBC as a managing director in 2019, according to his LinkedIn profile.


Bloomberg
3 hours ago
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How Wells Fargo Emerged From Years of Regulatory Sanctions
More than seven years ago, the US Federal Reserve put limits on Wells Fargo & Co.'s size to penalize the bank for misdeeds including the creation of millions of unauthorized customer accounts. On June 3, the Fed announced that it lifted the cap, ending an unprecedented punishment that had restricted the bank's ability to grow and compete with its peers. Wells Fargo was the country's 3rd-biggest bank when it became embroiled in scandals that claimed two chief executive officers and cost Wells Fargo tens of billions of dollars in fines and lost revenue. The bank spent years cleaning up the mess, steered by Chief Executive Officer Charlie Scharf, who was named to the top job in 2019.