Peloton stock bounces back after CEO disputes reports of massive layoffs, production halts

Shares of Peloton Interactive Inc. rebounded. In after-hours trading Thursday, after CEO John Foley defied media reports alleging production halts and layoffs. genus PTON -23.93% The stock plunged 23.9% in the regular session on Thursday to fall below its IPO price for the first time in nearly two years, after CNBC reported that production on … Read more

Elon Musk’s Tesla Asked Law Firm to Fire Associate Hired From SEC

A partner at the law firm Cooley LLP received an unexpected call late last year from a lawyer for one of the company’s most famous clients, Elon Musk’s Tesla. company , TSLA 1.75% with an alarm. People familiar with the matter said the world’s richest man wanted Cooley, who has represented Tesla in several lawsuits, … Read more

Citigroup Sticks With Its Covid-19 Vaccine Mandate, While GE Drops Its Rules

City Group company c -1.25% It is committed to delegating a Covid-19 vaccine to its US employees. General Electric company Give 0.68% Not. The two US companies are heading in opposite directions after the Supreme Court on Thursday blocked the Biden administration’s rule that large employers require their employees to get vaccines or be tested. … Read more

Student-Loan Processor Navient to Cancel $1.7 Billion of Debts

A former unit of student loan giant Sallie Mae said it would cancel $1.7 billion in private student debt for 66,000 borrowers to settle claims it engaged in deceptive lending practices. Navient corp. Navi 0.37% He agreed to the amount in a settlement with 40 state attorneys general. The loans are private loans, so losses … Read more