5 Most Important Things in Business Today

By Douglas A. McIntyre Updated Jan 12, 7:33AM EST · Published Oct 4, 5:06AM EDT

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Uber raised slightly more than $1 billion from Japanese tech and investing giant Softbank. The ride-sharing company’s board also changed its stock voting structure to take power away from former CEO Travis Kalanick. According to The Wall Street Journal:

Among the approved proposals Tuesday, Uber’s board agreed to revoke certain investors of their so-called supervoting rights, which granted them multiple votes per share, a person familiar with the matter said. The provision is intended to restrict Kalanick’s grip on the company and create equal voting power among shareholders.

Yahoo, the internet portal owned by Verizon Communications Inc. (NYSE: VZ), provided new details about a 2013 hack of some of its customers, saying it was larger than previously disclosed. Reuters reports:

Yahoo on Tuesday said that all 3 billion of its accounts were hacked in a 2013 data theft, tripling its earlier estimate of the size of the largest breach in history, in a disclosure that attorneys said sharply increased the legal exposure of its new owner, Verizon Communications Inc.

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New Ford Motor Co. (NYSE: F) CEO Jim Hackett said the company would invest $7 billion in products for the popular truck and sport utility vehicle segments while sharply cutting costs elsewhere.

New NBC star Megan Kelly posted mediocre ratings in her early days on the air. According to The New York Times, during its first week the show, called Megan Kelly Today, did no better than the Today Show, which used to air in the same time slot.

President Trump commented that Puerto Rico’s troubled debt load may have to be “wiped out.” He told Fox News:

We are going to work something out. We have to look at their whole debt structure. You know they owe a lot of money to your friends on Wall Street. We’re gonna have to wipe that out. That’s gonna have to be — you know, you can say goodbye to that. I don’t know if it’s Goldman Sachs but whoever it is, you can wave good-bye to that.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.