>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning on Wall Street following Tuesday's roller coaster session that ended with markets closing mixed. Stocks struggled for direction after the producer price index report showed wholesale inflation rising just two-tenths percent in December. Investors are now looking ahead to this morning's release of the consumer price index for clues on the Federal Reserve's next move on interest rates. At the closing bell, the Dow Jones Industrial Average gained 221 points to 42-518. The S&P 500 rose 6 points to 58-42. The Nasdaq fell 43 points to 19-044.
>>SEC Sues Elon Musk
(Washington, DC) -- The U.S. Securities and Exchange Commission is suing Elon Musk. The SEC filed the lawsuit against Musk on Tuesday, alleging the billionaire broke the law in 2022 by failing to disclose his active stake in Twitter, which allowed him to buy shares at "artificially low prices." Musk had more than a five-percent stake in the company at the time, which he would've been required to disclose to the public. The SEC says Musk withheld that information, "allowing him to underpay by at least 150-million-dollars for shares." The SEC has been investigating whether Musk committed securities fraud as he sold shares in Tesla and shored up his stake in Twitter before he bought the social media site for 44-billion-dollars.
>>Chinese Telecommunications Company Admits To Conspiring To Steal Technology From Motorola
(Chicago, IL) -- A Chinese telecommunications company is admitting to conspiring to steal technology from Chicago-based Motorola Solutions. The Department of Justice confirmed Tuesday that Hytera Communications had pleaded guilty in Chicago federal court to conspiracy to steal trade secrets. Hytera may be fined up to 60-million-dollars and must make a full restitution payment to Motorola, in an amount to be determined by the Court at sentencing. According to the plea agreement, Hytera knowingly conspired to steal at least one trade secret from Motorola.
>>McDonald's Sued Over Hispanic Scholarship Program After Rolling Back Some Diversity Goals
(Chicago, IL) -- An anti-affirmative action organization is suing McDonald's over a scholarship program for Hispanic and Latino students. The legal action took place after the fast food giant ended some of its corporate diversity, equity, and inclusion practices. Students for Fair Admissions alleges the scholarship program unlawfully discriminates against students of other races and ethnicities. Nashville-based International Scholarship and Tuition Services Incorporated administers the scholarship program for McDonald's.
>>DirecTV Launching Sports Streaming Platform
(El Segundo, CA) -- DirecTV is getting into the sports streaming game. The satellite television provider unveiled the MySports package on Tuesday. It'll feature over 40 channels with access to live games from the NFL, NBA, MLB and NHL. The company says it'll cost around 70 dollars per month and customers will not need a dish to get the service - just a mobile device or smart TV. MySports will be offered in 24 markets to start including New York, Los Angeles and Chicago. This comes as Disney, Fox and Warner Brothers Discovery recently benched a plan to launch their own sports streaming service.
>>MSNBC President Steps Down
(New York, NY) -- The president of MSNBC is leaving the cable news network. Rashida Jones announced Tuesday that she is stepping down from the role after four years. She was the first Black executive to head a major U.S. television news network. Jones said she came to the decision over the holidays and called her tenure as MSNBC president "the most rewarding chapter" of her professional career. Her decision comes as Comcast plans to spin off most of its cable networks including MSNBC, CNBC and the USA Network into a separate publicly traded company.
