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

Business Matters with Don Ma

Tesla shareholders approved CEO Elon Musk's $56 billion pay package, the electric vehicle-maker said on Thursday, a big thumbs-up to his leadership and an enticement for keeping 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 oversight of Boeing before a January 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 in the Jan. 5 incident, in which a door panel blew out during the flight.

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