SEC Is Investigating Workplace Conduct at Activision Blizzard

The Securities and Exchange Commission has launched an investigation into Activision Blizzard examining how the gaming company handled information related to workplace discrimination and sexual misconduct. Senior executives including CEO Bobby Kotick have been subpoenaed along with former and current employees. The SEC asked for Kotick’s internal communications and minutes from Activision board meetings dating from 2019. The publisher of “Call of Duty,” “World of Warcraft” and “Candy Crush” must also provide the agency with personnel files and 2021 separation agreements. Continue reading SEC Is Investigating Workplace Conduct at Activision Blizzard

Alphabet Posts Higher Profits But Slowing Overall Revenue

Alphabet, dealing with pushback from regulators and struggles in its corporate culture, reported net profit that increased 37 percent to $9.19 billion in the quarter through September. Last year, during the same period, the company posted $6.7 billion. Although this growth exceeded analysts’ expectations, overall revenue is actually down, growing 21 percent to $33.74 billion versus last year’s 24 percent growth in the same period. Revenue from advertising, representing the majority of sales, grew 20 percent to $28.95 billion. Continue reading Alphabet Posts Higher Profits But Slowing Overall Revenue

Uber CEO Considers Investor Concerns and Resigns Position

Travis Kalanick stepped down from his chief exec position of ride-hailing service Uber yesterday. Kalanick helped found the company in 2009, but months of scrutiny regarding charges of harassment and discrimination, followed by a recent shareholder revolt resulted in his departure. “Five of Uber’s major investors demanded that [he] resign immediately,” according to The New York Times. “The investors included one of Uber’s biggest shareholders, the venture capital firm Benchmark, which has one of its partners, Bill Gurley, on Uber’s board.” The company will seek new leadership, although Kalanick will remain on Uber’s board of directors. Continue reading Uber CEO Considers Investor Concerns and Resigns Position