Business news in brief
By The Associated Press
Trump’s social media company to start trading on Nasdaq
NEW YORK | Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will begin trading on the Nasdaq stock market on Tuesday.
Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the Trump’s media business in a Friday vote.
The common stock of Trump Media & Technology Group will trade under the ticker symbol “DJT.” The former president will have a 60% stake in the company worth nearly $4 billion.
Boeing CEO
to step down
A leadership shake-up at Boeing is highlighting the difficult path facing the iconic aircraft manufacturer as it tries to navigate through another safety crisis. CEO David Calhoun announced Monday that he would retire at the end of the year. The head of the company’s commercial airplanes unit was replaced immediately by a fast-rising insider.
In a third high-profile decision, Boeing said the chairman of its board won’t stand for reelection in May.
Boeing has been under intense pressure since a panel blew off a new Alaska Airlines 737 Max on Jan. 5. Fallout from the blowout has put the company under the most scrutiny since two Boeing 737 Max jets crashed in 2018 and 2019.
Judge dismisses lawsuit by X against nonprofit researchers
A federal judge has dismissed a lawsuit by Elon Musk’s X Corp. against the non-profit Center for Countering Digital Hate, which has documented the increase in hate speech on the site since it was acquired by the Tesla owner.
X, formerly known as Twitter, had argued the center’s researchers violated the site’s terms of service by improperly compiling public tweets, and that its subsequent reports on the rise of hate speech cost X millions of dollars when advertisers fled.
On Monday, U.S. District Court Judge Charles Breyer dismissed the suit, writing in his order that it was “unabashedly and vociferously about one thing” — punishing the nonprofit for its speech.
—From AP reports
