Tesla Shareholders Approve Musk’s $56-Billion Pay Package; Weekly Jobless Claims at 10-Month High | Business Matters Full Broadcast (June 13)

Don Ma
By Don Ma
June 13, 2024Business Matters
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Tesla shareholders approved CEO Elon Musk’s $56-billion pay package, the electric vehicle-maker said Thursday, in a big thumbs-up to his leadership and an enticement for him to maintain his focus on his biggest source of wealth.

The head of the Federal Aviation Administration (FAA) said Thursday the agency was too “hands-off” in its oversight of Boeing before January’s mid-air emergency in a new Alaska Airlines 737 Max 9. FAA administrator Mike Whitaker’s comments at a Senate Commerce Committee hearing mark the first time the U.S. aviation regulator has acknowledged inadequate oversight related to the Jan. 5 incident, in which a door panel blew out mid-flight.

The number of Americans filing new claims for unemployment benefits increased to a 10-month high last week, suggesting the labor market is losing momentum and keeping alive hopes of a September interest rate cut from the Federal Reserve.