Markets Now Monday, May 13, 2024

Melinda French Gates is resigning from the Bill & Melinda Gates Foundation

Melinda French Gates, one of the world’s preeminent philanthropists, said Monday she would resign as co-chair of the Bill & Melinda Gates Foundation that she has helped lead since 2000.  
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GameStop, AMC shares skyrocket after meme stock trader posts for first time in 3 years

The surprise social media return of the trader who helped ignite the meme stock frenzy in 2021 sent GameStop shares skyrocketing Monday. The surge had nothing to do with the troubled company’s fundamentals — and everything to do with a cartoon of a gamer that the trader, nicknamed Roaring Kitty, shared on X.  
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Porsche’s iconic 911 is going hybrid

Porsche is set to unveil one of the biggest changes to its signature model. A hybrid Porsche 911, with its gas engine assisted by at least one battery-powered electric motor, will officially be revealed in an online event on May 28.  
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Airlines sue DOT over new rules requiring disclosure of fees

Airlines sue DOT over new rules requiring disclosure of fees  
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Shein promised to tackle overwork. A new report says 75-hour weeks are still common

More than a year after Shein promised to tackle excessive working hours in its supply chain, a new report suggests the Chinese fast-fashion company still has a problem.  
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GM’s self-driving car unit restarts testing on public roads

Cruise, General Motors’ autonomous driving technology subsidiary, will start taking its self-driving vehicles out on public roads again this week. The company had stopped testing last October following an incident in San Francisco in which a pedestrian was badly injured.  
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Source: CNN Business