Corporate Strategy/Planning

An executive at the core of Microsoft metaverse strategy is leaving the company.Alex Kipman, a technical fellow at Microsoft who led its augmented-reality headset project, is stepping down, Scott Guthrie, Microsoft’s cloud and artificial-intelligence group executive vice president, wrote in an internal email Tuesday viewed by The Wall Street Journal. An executive at the core of Microsoft metaverse strategy is leaving the company.Alex Kipman, a technical fellow at Microsoft who led its augmented-reality headset project,…

Peloton Interactive Inc. is exchanging its top finance executive about four months after it named a new chief executive, a move that comes as the fitness-equipment maker navigates persistent losses. The New York-based at-home exercise equipment company on Monday said Liz Coddington will serve as its chief financial officer, effective June 13. Peloton said its current CFO, Jill Woodworth, decided…

Johnson & Johnson said Monday it planned to terminate its Covid-19 vaccine supply deal with contract manufacturer Emergent BioSolutions Inc., as both companies accused each other of breaching the agreement. J&J informed Emergent last week of its plan to terminate the 2020 manufacturing agreement “based on Emergent’s breaches, including failure to supply Covid-19 vaccine drug substance,” J&J said in a written…

Tesla Inc. plans to cut 10% of its salaried workforce amid concerns about the global economy and following a hiring spree that has seen the company’s head count swell 45% in one year alone. Chief Executive Elon Musk informed workers about the head count reduction in a memo, saying Friday the electric auto maker had “become overstaffed in many areas,” according to people familiar with the email. TeslaInc. plans to cut 10% of its salaried workforce amid concerns about the global economy and following a hiring spree…

Ford F 2.51% Motor Co. plans to add 6,200 union manufacturing jobs and invest $3.7 billion into plants in Michigan, Ohio and Missouri, as it looks to expand vehicle production and prepare for coming labor talks.The multibillion-dollar investment will go to retooling factories to build newer versions of gas-engine models, such as the Ford Ranger pickup and Mustang sports car, the auto maker said Thursday. Ford also plans to expand production of its electric F-150…

A Fidelity Investments subsidiary, launched a few years ago to let institutional investors store and trade bitcoin, plans to double its head count this year as it predicts rising demand for cryptocurrency amid market volatility. Fidelity Digital Asset Services LLC plans to hire 110 tech workers, including engineers and developers with blockchain expertise, to build digital infrastructure to support services for cryptocurrencies beyond bitcoin, said Tom Jessop,…

SYDNEY—A tech billionaire brought down plans by Australia’s biggest polluter to spin off its coal-fired power plants into a new company, handing a big win to environmental activists who want a faster shift toward cleaner energy. Mike Cannon-Brookes, the Australian co-founder of Nasdaq-listed Atlassian Corp. , first tried to buy AGL Energy Ltd. AGL -1.69% in February after joining with Canada’s…

Elon Musk is committing more of his wealth to finance his $44 billion deal for Twitter Inc. TWTR 3.91% and seeking additional financial backers amid a sharp decline in Tesla Inc. TSLA 4.88% stock in recent weeks.Mr. Musk’s funding plan now includes $33.5 billion in equity, up from $27.25 billion, according to a Wednesday regulatory filing. The billionaire Tesla chief executive no longer…

Auto maker Stellantis NV and Samsung SDI Ltd. said Tuesday that they would build a new battery plant in Indiana to support the Jeep and Ram manufacturer’s electric-vehicle production plans.The $2.5 billion plant is expected to break ground later this year and open in the first quarter of 2025, they said. Auto maker Stellantis NV and Samsung SDILtd. said Tuesday that they would build a new battery plant in Indiana to support the Jeep and Ram manufacturer’s electric-vehicle production plans.The $2.5 billion plant is…

AmazonInc. is attempting to shed some warehouse space following a slowdown the company has experienced in its e-commerce operations.The online retail giant is seeking to sublease a minimum of 10 million square feet of warehouse space and is also exploring options to end or renegotiate leases with outside warehouse owners, according to a person familiar with the matter. The move follows the first quarterly loss in seven years for the company, which in April reported a decline in demand that has strained its warehouse…