Business
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Stock Plummets, CEO Faces Pressure, Iran Blacked Out

Kyndryl Holdings, the tech company spun off from IBM, is facing scrutiny from the U.S. Securities and Exchange Commission (SEC) and a subsequent delay in its financial filings, according to Fortune. The company's audit committee is reviewing its accounting practices, including cash management and internal controls, following voluntary document requests from the SEC's Division of Enforcement. Meanwhile, American Airlines CEO Robert Isom is facing a vote of no confidence from the flight attendant union, as reported by Fortune, and Iran experienced a near-total internet blackout, impacting its higher education system, as detailed by Nature News.

Kyndryl's audit committee is specifically examining its cash management practices, related disclosures, and the effectiveness of internal controls over financial reporting, according to a Monday SEC filing cited by Fortune. This review has delayed the completion of its quarterly filings. The company's stock has also reportedly dropped significantly.

American Airlines CEO Robert Isom is under pressure, with the Association of Professional Flight Attendants (APFA) issuing a unanimous vote of no confidence. The APFA stated, "Our airline is falling dangerously behind its competitors, and the current leadership has failed to change course," according to Fortune. Isom is also facing concerns from the Allied Pilots Association.

In Iran, a near-total internet blackout on January 8th disrupted the higher education system, echoing a similar five-day blackout in 2019, Nature News reported. This has led to severe disruptions, reminiscent of the 1980s cultural revolution when universities were closed for three years.

In other news, Fremantle's Director of Global Entertainment, Andrew Llinares, is set to step down this spring, Variety reported. Llinares, who has been in the role since January 2023, was responsible for leading and shaping Fremantle's global entertainment division. The global entertainment division and leadership team will report to group CEO Jennifer Mullin on an interim basis while a successor is found.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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