Porsche board agrees on CEO successor for Oliver Blume - report

This week saw significant movements in the stock market, particularly for major companies like Morgan Stanley, Porsche, Broadcom, and Walmart. These fluctuations reflect broader economic trends and investor sentiment, making it crucial for stakeholders to stay informed about how these changes could impact their investments.

The 2025 State of Inclusion & Equity in TV Writing Report sheds light on the pressing need to create pathways for diverse creators in the television industry. It highlights what audiences are looking for and identifies the barriers that writers face in meeting these demands. This report is crucial as it not only reflects the changing landscape of viewer preferences but also emphasizes the importance of inclusivity in storytelling, which can lead to richer narratives and broader representation on screen.

Booking Holdings has made amendments to its bylaws, specifically adjusting the requirements for board meetings. This change is significant as it reflects the company's ongoing efforts to enhance its governance structure and adapt to evolving business needs. Such adjustments can lead to more efficient decision-making processes and better alignment with shareholder interests.

Institutional Shareholder Services (ISS) has advised Tesla investors to oppose Elon Musk's proposed $1 trillion pay deal, highlighting concerns over the compensation structure. This recommendation is significant as it reflects growing scrutiny over executive pay and governance practices at major companies. Additionally, ISS is urging investors to vote against the re-election of board member Ira Ehrenpreis, suggesting a potential shift in shareholder sentiment towards accountability and transparency in corporate leadership.

Porsche has appointed former SUV chief, Klaus Zellmer, to take over the challenging role of leading its SUV division, often referred to as a 'poisoned chalice' due to the pressures and expectations surrounding it. This move is significant as it reflects Porsche's strategy to strengthen its leadership in the competitive SUV market, which is crucial for the brand's growth and profitability.

Porsche has appointed former McLaren boss, Andreas Leiters, to spearhead its revival efforts. This move is significant as it signals Porsche's commitment to innovation and growth in a competitive automotive market. Leiters brings a wealth of experience and a fresh perspective, which could help Porsche enhance its brand and product offerings, ultimately benefiting consumers and investors alike.

Porsche has announced the appointment of Michael Leiters as its new CEO, effective January 2026. This decision marks a significant leadership change for the iconic automotive brand, which is known for its innovation and performance. Leiters, who has a strong background in the automotive industry, is expected to drive Porsche's strategic vision forward, particularly as the company continues to navigate the evolving landscape of electric vehicles and sustainability. This leadership transition is crucial for Porsche as it aims to maintain its competitive edge in a rapidly changing market.

Porsche AG has appointed Michael Leiters as its new CEO, bringing in a seasoned leader with a strong background in luxury automotive engineering from McLaren and Ferrari. This move is significant as it signals Porsche's commitment to innovation and a potential shift towards hybrid technology, which could enhance their competitive edge in the luxury car market.

A US court has ordered the spyware company NSO to cease its targeting of WhatsApp, a significant ruling that underscores the growing scrutiny on surveillance technologies. This decision is important as it aims to protect user privacy and sets a precedent for how courts may handle similar cases in the future.

Kering is reportedly close to finalizing a $4 billion sale of its beauty unit to L’Oreal, according to the Wall Street Journal. This deal is significant as it marks a strategic shift for Kering, allowing the luxury goods company to focus more on its core fashion brands while L’Oreal expands its portfolio in the beauty sector. Such a transaction could reshape the competitive landscape in the beauty industry, highlighting the ongoing trend of consolidation among major players.

Nvidia is making waves in the AI sector with its Vera Rubin project, potentially sparking another surge in artificial intelligence advancements. The company has transformed from a traditional tech player to a market leader, boasting a market cap exceeding $4 trillion. This growth not only highlights Nvidia's pivotal role in the tech industry but also positions it as a key driver of the S&P 500, influencing broader market trends. As AI continues to evolve, Nvidia's innovations could shape the future of technology and investment.

Paramount and Skydance are set to cut 2,000 jobs in the U.S. starting the week of October 27, as reported by Variety. This significant reduction in workforce highlights the ongoing challenges faced by the entertainment industry, particularly in the wake of economic pressures and changing consumer behaviors. The layoffs not only impact the employees directly affected but also signal broader trends in the industry that could affect future productions and job stability.

In a candid admission, Stephen Moore, a former economic advisor to Trump, has expressed concerns about the negative impact of tariffs on economic growth and consumer prices. Speaking to Fortune, he highlighted that tariffs essentially act as taxes, which he believes are detrimental to the economy. Moore also voiced apprehension over Trump's recent comments regarding price controls on essential goods like drugs and beef, suggesting that such interventions could further complicate economic stability. This matters because it reflects a growing unease among even Trump's allies about the long-term effects of his economic policies.

The seafood industry is facing significant challenges, with many chains, including Red Lobster, struggling to stay afloat. Rising costs of key ingredients like shrimp and lobster, combined with a decline in consumer interest, have led to a series of restaurant closures, leaving only 18 locations operational. This situation highlights the broader issues within the industry, as affordable seafood becomes increasingly difficult to provide, impacting both businesses and consumers.