David Solomon defeated a proposal seeking to separate his roles as CEO and chairman of Goldman Sachs, but the measure received double the support it did in 2023.
TikTok said Wednesday that it's halting a feature on its new app rewarding users in Europe for watching videos, after facing pressure from regulators worried about its addictive features. The company backed down days after the European Union warned that the TikTok Lite app might have breached the 27-nation bloc's digital regulations when it launched earlier this month. The EU's executive Commission threatened to order the suspension of features that pose a risk to kids.
The Philadelphia Semiconductor Index rose 0.9% as most chip stocks rallied. climbed 12.1% after the toymaker reported a smaller-than-expected drop in first-quarter sales and handily beat profit estimates. "Investors are turning a bit more cautious despite the fact that the earnings component of the equity market still looks to be holding up okay," said Brian Nick, senior investment strategist at The Macro Institute.
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