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    Bündchen to Counsel Company on Environmental and Social Objectives; DraftKings Launches Earth Day DFS Contest as First Step to Reach Goal of Planting of 1,000,000 Trees BOSTON, April 21, 2021 (GLOBE NEWSWIRE) — DraftKings Inc. (Nasdaq: DKNG) today announced the appointment of Gisele Bündchen, environmental activist, philanthropist and former super model, as a special advisor to the company’s CEO and board of directors for environmental, social, and governance (“ESG”) initiatives. “Gisele Bündchen is a global icon who has utilized the platform she established in modeling, fashion, and entertainment, to lead and advocate for vital environmental and social causes,” said Jason Robins, co-founder, CEO and Chairman of the Board of DraftKings. “I believe that the strategic counsel and unique global perspective that Gisele brings to me and the board will be indispensable and, as evidenced by our Earth Day campaign, her impact will be immediate and far-reaching.” As outlined...
    GameStop shares shot up on Monday after the company announced plans to search for a new chief executive officer to help accelerate the company’s transformation into a digital retailer. GameStop CEO George Sherman will step down on July 31 or sooner depending on the appointment of a successor, the company said. The retailer’s board will lead the search for a CEO “with the capabilities and experience to help accelerate the next phase of the company’s transformation,” the company said. Shares of GameStop — a favorite of the Reddit-fueled stock rally that took the nation by storm by earlier this year — jumped more than 9 percent on the news to about $169 Monday morning. Some investors were also cheered by news that popular GameStop investor Keith Gill recently doubled down on his bet in the video game retailer. Gill said he exercised his 500 GameStop call options contracts...
    In this article Adam Foroughi, AppLovinSource: AppLovinFive years ago, AppLovin co-founder Adam Foroughi thought he'd just sold his mobile advertising start-up for $1.4 billion. But the deal fell through. Now, as his company gets set to hit the public market, he's personally worth close to twice that amount. There are Silicon Valley whirlwind stories, and then there's AppLovin. Founded in 2011 to help app developers get discovered and make money, AppLovin grew up without the help of venture money, reckoned with a scrapped acquisition, raised a big private equity round and transformed itself into a leading game publisher by going on a buying spree. AppLovin was valued at $28.6 billion in its IPO ahead of the start of trading on Thursday, based on a reported $80 share price, which was in the the middle of the expected range. Foroughi, who created AppLovin after starting a couple other ad tech companies,...
    In this article COINVIDEO1:3701:37Coinbase CEO on how direct listing could impact broader crypto marketSquawk BoxRegulation is one of the biggest risks when it comes to the cryptocurrency business, Coinbase CEO Brian Armstrong told CNBC. "It's right up there with cybersecurity," Armstrong said in an interview with Andrew Ross Sorkin that aired Wednesday morning. "And especially now that Coinbase is a public company, we're gonna increasingly be having scrutiny about what we're doing and people want to understand the implications of it." "And so, we're very happy to engage, just as we have been over the last 10, you know, nine years really since the start of the company, with everybody in D.C. and really lawmakers, policy folks around the world, because of course Coinbase is in many different countries now, about how we can most thoughtfully build this industry and this company," he added. Coinbase is set to become the...
    Bottles for the Pfizer BioNTech COVID-19 vaccine are ready to be prepared before the opening of a mass vaccination site in the Queens borough of New York, February 24, 2021.Seth Wenig | Pool | Reuters Pfizer CEO Albert Bourla said Tuesday that his company has ramped up production of its two-shot vaccine and will be able to deliver a total of 300 million doses to the U.S. ahead of schedule. Bourla said Pfizer can deliver 10% more doses to the U.S. by the end of May than it had previously agreed to produce. The company will be able to the full 300 million to the U.S. two weeks early, he said. This is breaking news. Please check back for updates.
    Levi Strauss & Co. CEO Chip Bergh said his organization is “very concerned” about state governments allegedly attempting to restrict voter access while continuing to operate his business in China, a country that is well known for impeding its own election process. During a segment on Friday’s CNN Newsroom, Bergh told host Poppy Harlow that his company was “going to do everything that we can to work with the legislatures to make sure that these restrictive laws don’t go into place.” Bergh said, “I’m very concerned about our democracy right now, Poppy, and voting is a hard-won — or hard-fought and hard-won right for all Americans. And I think what we’re seeing is a backlash to the record voter turnout in 2020 and the baseless, false narrative of voter fraud.” WEST VIRGINIA GOVERNOR SIGNS LAW ELIMINATING SALES TAX ON GUNS AND GIVING TAX BREAK TO GUN MANUFACTURERS The CEO then...
    Fox Corporation CEO Lachlan Murdoch is rumored to have turned control of the company to its chief legal officer - who is also the godfather of his son - after abruptly moving back to Australia last month.  The New York Times published a profile on the chief legal officer, Viet Dinh, on Sunday, which examined the 'sociable and relentless' Republican lawyer's role at Fox Corp.  Lachlan, the son of media mogul Rupert Murdoch, left Los Angeles for Australia amid claims that Joe Biden's election made things 'rough' for his family, given Fox Corp's reputation as catering to the GOP.   Fox Corp has publicly insisted that Lachan is still very much in charge of the company and has even been keeping nocturnal hours from Sydney, working from midnight to 10am to stay on an American schedule. However Fox Corp insiders told the Times that Lachlan's move intensified Dinh's power in the company. ...
    The acquisition includes most of the contracting business of the industrial services division, eight concession projects under development or construction, mainly electrical transmission, and ACS’s renewables platform. ACS will retain mainly in its possession the renewable assets grouped under the Zero-e banner and fifteen concessions whose segregation process will take place before the execution of the sale Vinci and ACS will also form a joint venture to which will be added all the renewable assets developed by the industrial division object of the operation during the next eight and a half years, according to both companies. Vinci will have a 51% stake in the joint venture, while ACS will own the remaining 49%. Invest in the tourism sector. Special report We analyze the sector hardest hit by the pandemic and its recovery prospects based on vaccinations. Do not miss it. As is customary in this type of...
    ACS closes the sale of Cobra to Vinci and dismisses Marcelino Fernández as CEO The acquisition includes most of the contracting business of the industrial services division, eight concession projects under development or construction, mainly electrical transmission, and ACS’s renewables platform. ACS will retain mainly in its possession the renewable assets grouped under the Zero-e banner and fifteen concessions whose segregation process will take place before the execution of the sale Vinci and ACS will also form a joint venture to which will be added all the renewable assets developed by the industrial division object of the operation during the next eight and a half years, according to both companies. Vinci will have a 51% stake in the joint venture, while ACS will own the remaining 49%. As is customary in this type of transaction, its execution is conditioned, as a suspensive condition, on obtaining all the necessary authorizations, particularly...
    In this article KO BLK DAL MRK AXP COKE James Quincey, President and CEO of Coca-Cola Co.The Coca-Cola Company President and Chief Operating Officer James Quincey.Coca-Cola CEO James Quincey said the company has always been against legislation in Georgia that restricts voter access, but is choosing to speak up publicly about it after the bill passed. "We always opposed this legislation," Quincey told CNBC's Sara Eisen on Wednesday's "Power Lunch." He added that the company has a long track record in Georgia, where it is based, of working with legislators and lobbying for itself or with alliances and achieving what it wants while working in private. Coke is among the many companies that are now publicly taking a stance after Georgia Gov. Brian Kemp signed a bill into law that overhauls the state's elections, which opponents say disproportionately disenfranchises people of color. Civil rights groups have been critical of...
    The CEO of Krispy Kreme is pushing back against criticism that the company is sending the wrong health message with its offer of a free doughnut to the vaccinated.  The doughnut franchise announced earlier this week that a COVID-19 vaccination card would be good for a free glazed doughnut through the end of the year. 'We all want to get COVID-19 behind us as fast as possible and we want to support everyone doing their part to make the country safe by getting vaccinated as soon as the vaccine is available to them,' Krispy Kreme said in a release. But the announcement came with criticism, including from comedian Stephen Colbert, who couldn't help but mock how Krispy Kreme's well-intentioned offer could feed into America's obesity epidemic. Krispy Kreme has been offering free doughnuts to people with COVID-19 vaccination cards, but not without some controversy CEO Mike Tattersfield...
    Related news WeWork, the multinational office and space rental company coworking, will be listed on the Nasdaq market, two years after his frustrated jump to the parquet. Its debut will come as a result of the merger with the special purpose purchasing company (SPAC) BowX Acquisition. The transaction, which has been unanimously approved by the boards of WeWork and BowX, could be completed in the third quarter of 2021. It is estimated a pro forma valuation of up to $ 9 billion -about 7,645 million euros- and income of 1,300 million dollars (1,104 million euros) in cash. The operation will be financed with the 483 million dollars (410 million euros) in cash in trust from BowX, in addition to an investment of 800 million dollars (679 million euros) raised through a private placement, which is already fully committed to $ 10 per share. Investors such as Insight Partners, Fidelity,...
    Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a world leader in information technology, consulting and business process services, today announced the appointment of Pierre Bruno as Managing Director for Europe. In this role, Bruno will lead Wipro’s business in six different regions of Europe. This appointment, which represents a clear sign of the company’s continued investment and focus on the European market, is the result of the momentum that Wipro has maintained throughout the region in recent years. “Pierre has 25 years of experience in the IT infrastructure consulting and service industries. He has also been in charge of business management, both in hyper-growth environments and in engineering transformation. Thanks to his experience in leading large teams, he is perfectly positioned to drive Wipro’s growth process in Europe, “he said. Thierry Delaporte, CEO and Managing Director of Wipro Limited. “I am excited about the opportunity I have to...
    (Bloomberg) – The Brazilian government chose pro-market executives to join the board of state-owned firm Petróleo Brasileiro SA after fears over fuel subsidies sent shares plummeted. On Wednesday, the government appointed former executives of French oil company Total SE and Light SA, a Rio de Janeiro-based power company, to the board. Earlier this week he nominated two former executives from Petrobras’ exploration and production division and a capital markets expert. It remains to be seen whether the appointment of seasoned oil and finance industry executives will ease fears about a fuel price intervention that has cost the company tens of billions of dollars during previous oil price boom episodes. . Petrobras has fallen 22% this year and is the one that registers the biggest losses among the main oil producers. Rising oil prices have pressured Petrobras to provide relief, especially to truckers who have threatened to strike over diesel prices....
    Michael Wirth, CEO, Chevron, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020.Adam Galica | CNBC Chevron CEO Michael Wirth told CNBC he hasn't spoken to Berkshire Hathaway since the firm took a stake in the oil giant, but he said the decision suggests confidence in Chevron's long-term future. "I can't infer anything other than their investment decision would suggest that there's some confidence in the long-term future of our company and our ability to generate value for shareholders over the long term," Wirth said on CNBC's "Closing Bell." "I look forward to meeting with them in the weeks and months to come," he added. Berkshire began building a position in Chevron during the fourth quarter of 2020, and by the end of last year had amassed more than 48 million shares of the oil giant, according to filings with the Securities and Exchange Commission. Berkshire's annual...
    Dirk Van de Put, chairman and CEO of Mondelez International, leads one of the world's biggest snack food companies. With consumer priorities shifting over the past year during to the coronavirus pandemic and social unrest, he's started to view his leadership position differently. Thinking a decade down the road, he aims to be what he calls an "ambassador of the future" for consumer behavior. Van de Put envisions a modernized food company that's both transparent and sustainable for its customers and employees. In his sit-down for "CNBC's Evolve: The Faber Interview" series, he details the changes he sees Mondelez undergoing in each of these ways. "It's exciting, it's inspiring, but it's complex," Van de Put said on the evolution, "We will need to drive big changes, we will need to be a very different company." When it comes to sustainability, he emphasized setting goals that are measurable, not just talk....
    Pfizer CEO Albert Bourla has finally had his first dose of his company's coronavirus vaccine, he told Axios on Sunday.  The 59-year-old executive vowed in December that he would wait his turn to get the shot, when asked by CNBC whether he would get an early dose to boost confidence in the 95 percent effective vaccine.  True to his word, Bourla finally got vaccinated on Monday after becoming eligible in New York, where he lives with his wife.  Bourla said that he feels 'liberating' now that he's had his first dose.   He won't be sufficiently immune to return to some semblance of normality until about two weeks after his second dose, but according to new Centers for Disease Control and Prevention (CDC) guidance, next month Bourla will be able to see other fully vaccinated people indoors and without a mask.   Bourla's vaccination came shortly after the US approved a third...
    Violence sparks grief, reckoning for Asian Americans Bidens approval on COVID-19 steady as country wary about reopening: POLL © Getty Images Ford CEO's One-Word Tweet in Response to Elon Musk Is the Best Example of Emotional Intelligence I’ve Ever Seen © Getty Images US-AUTO-TESLA-MODEL Y Know how to take a compliment. Load Error Responding to Elon Musk on Twitter can be very risky. The way you respond to either criticism or praise--in general--says a lot about you. The way you respond when it comes from a billionaire known for his sometimes controversial but always lively Twitter feed can be dangerous. If only every leader could take the approach that Ford's CEO, Jim Farley did on Friday. It just might be the best example of emotional intelligence I've ever seen, and it only took that one simple word. "Respect." That was the entire tweet. Just one word. It turns...
    Macy's Herald Square Flagship Department Store in Midtown Manhattan New York.Nicolas Economou | NurPhoto | Getty Images Macy's announced Monday a number of management changes as the department store looks to overhaul its business and woo back customers who are increasingly shopping online and avoiding malls during the pandemic. Chief Operations Officer John Harper will be leaving the company on Aug. 1, and the post won't be refilled, the company said. Instead, Marc Mastronardi, chief stores officer, and Dennis Mullahy, chief supply officer, will report directly to CEO Jeff Gennette. Macy's named Laura Miller as its chief information officer, starting March 15. Miller, who previously was chief information officer at InterContinental Hotel Group, will report to directly to Gennette. She replaces Naveen Krishna, who held the title of chief technology officer and is leaving the company. Marla Beck, CEO and co-founder of Bluemercury, is stepping down this summer....
    More On: mcdonalds Black McDonald’s franchise owners launch 90-day protest at company headquarters Cockatoos swarm woman for her McDonald’s hash brown McDonald’s sets new diversity goals amid discrimination allegations Burger King, Wendy’s are the latest to enter chicken wars McDonald’s chief executive is vowing to crackdown on sexual harassment at the Golden Arches in the wake of a new report detailing disturbing allegations by female employees. “Sexual harassment in the workplace is an affront to everything we stand for as a system,” Chris Kempczinski, chief executive of the fast food giant wrote in a message on the company’s website Sunday. “It has no place in any McDonald’s restaurant, and it will not be tolerated.” Kempczinski, who promised the such claims will be investigated, issued the post in response to a CBS report on Sunday that profiled four women who have sued the Chicago-based company over workplace harassement. “In the...
    Ben Bonnema (pictured) said he was fired from a Trader Joe's location in New York City after he sent a letter to the grocery chain's CEO demanding stricter mask requirements for customers Trader Joe's has been threatened with a boycott after an employee revealed he was fired for sending a letter to the grocery chain's CEO demanding stricter mask requirements for customers.   Ben Bonnema shared his story in a Twitter thread on Friday, claiming that he was sacked from a Trader Joe's location on New York City's Upper West Side because he doesn't 'share the company's values'.    Bonnema posted a photo of the letter he sent CEO Dan Bane, in which he recommended five changes to improve safety amid the pandemic, including implementing a 'three strike policy' to ban customers who repeatedly flout mask rules.  'We put our lives on the line every day by showing up to work,'...
    Montana pileup accident: Two people were injured in a 30-vehicle pileup in whiteout conditions CDC Traces Covid-19 Outbreaks in Gyms, Urging Stricter Precautions © Shoshy Ciment/Business Insider Trader Joe's Shoshy Ciment/Business Insider A New York man said he was fired by Trader Joe's after he requested the company make changes to better protect workers. Ben Bonnema said on Twitter he was fired after sending a letter to the company's CEO. In the termination letter he shared, the company said he did not share the grocery chain's "core Values." Visit the Business section of Insider for more stories. A New York City man said he was fired by Trader Joe's after he sent a letter to the company's CEO requesting the company make several changes he said would more thoroughly protect the grocery chain's employees from COVID-19.  Load Error In a tweet Friday evening, Ben Bonnema said...
    Dominion Voting Systems has filed its defamation lawsuit against MyPillow CEO Mike Lindell - who claimed the company rigged the election for Joe Biden by tampering with ballot machines - and is seeking $1.3billion in damages.  Lindell, a staunch Trump van who claims the election was 'stolen' for Biden, accused Dominion of rigging its voting machines across the country to count more ballots for Biden than for Trump.  The company has been threatening to sue him for weeks.  On Monday morning, lawyers filed papers in the District of Columbia which claimed Lindell defamed the company by making the claims.  'He is well aware of the independent audits and paper ballot recounts conclusively disproving the Big Lie.  'But Lindell…sells the lie to this day because the lie sells pillows,' the complaint reads.  Lindell told The Wall Street Journal that he welcomed the lawsuit and has 'evidence' the company rigged the election. ...
    The new CEO of Parler called allegations that the social media platform was used to help coordinate the Jan. 6 Capitol attack a “political hit” job and said that Big Tech firms view his company as a “business threat.” Interim CEO Mark Meckler pledged Parler's "independence from the Big Tech oligarchy," and that it would only work with vendors that are committed to "free speech" and that won't come under attack from the "woke mob," during an interview with the Epoch Times on Thursday. Parler was founded in 2018 and billed itself as a platform that protects free speech. It has been popular with conservatives and jumped to the most downloaded app on Apple in November after the presidential election. A handful of Big Tech companies, including Amazon, Apple, and Google, moved to take down Parler in early January, citing its role in enabling the Capitol attack. Parler announced...
    COVID-19 vaccine rollout has been chaotic and confusing. Whats going on? NATO announces expanded mission in Iraq on the heels of deadly rocket attack © Courtesy of Walmart Courtesy of Walmart Walmart announced it would raise pay for some workers, while maintaining $11 starting wage. CEO Doug McMillon said the raises will help the company create a "ladder of opportunity." He also said a $15 minimum wage should be paced in a way that benefits the US economy. Visit the Business section of Insider for more stories. Walmart announced Thursday that it would raise wages for some workers while maintaining an $11 starting pay.  Load Error Chief executive Doug McMillon said the increases are designed to create a "ladder" system for worker promotions at the country's largest retailer and biggest private sector employer. The raise, which will bring 425,000 associates' pay to between $13 and $19...
    Winter storm, GameStop hearing, NASAs Perseverance to land on Mars: 5 things to know Thursday Under Biden, new immigration tone takes center stage Two weeks after announcing he was stepping down as CEO of Amazon, Jeff Bezos once again became the world's richest person. © Provided by People Pascal Le Segretain/Getty; John Shearer/Getty Elon Musk (L); Jeff Bezos Bezos reclaimed the top spot on Tuesday with an estimated net worth valued at $191 billion, according to the Bloomberg Billionaires Index. This placed him just $1 billion ahead of Elon Musk, the SpaceX and Tesla founder, whose net worth dropped to $190 billion as shares in his car company fell 2.4 percent, CNN reported. © Pascal Le Segretain/Getty; John Shearer/Getty Elon Musk (L); Jeff Bezos Musk passed Bezos for the first time in early January, knocking the 57-year-old from the top position for the first time in three years,...
    New York (CNN Business)Revolut is on a mission to build a global digital bank. The British company is already one of Europe's biggest fintechs. Now Revolut is setting its sights on a bigger prize: America.Valued at $5.5 billion, Revolut has more than 15 million customers around the world and last spring it quietly entered the US market. In a bid to gain the trust of American consumers, Revolut plans to submit an application with federal regulators this year for a bank charter in the United States, the company exclusively told CNN Business. To be honest, Im not really worried about banks," Revolut CEO Nik StoronskyBank charters, which allow companies to hold customer deposits and make loans without a partner bank -- are very rare for fintech companies -- and unheard of for foreign startups. But Revolut is trying to stand out in the ultra-competitive US market by pitching itself...
    Capital Energy. This name may not be too familiar to you, but you will surely hear it a lot in the coming months. These are the 10 keys to ‘renewable unicorn’ that aspires to break the spanish market and is studying going public to finance its ambitious (for some excessive) growth plans. 1. The company was founded in 2002 by Jesus Martin Buezas and specialized in the sale of rights to renewable energy projects. Although for two years, it has oriented its strategy to develop these projects, for which it needs a lot of fundingsince your financial muscle is very limited. two. It is defined as “the first vertically integrated 100% renewable electric of the Iberian Peninsula ”. His goal is “bring 100% renewable energy to the final consumer that we will produce in our own wind and solar installations in Spain and Portugal ”. However, it has not...
    A 90-year old Los Angeles resident has taken out two quarter-page newspaper ads to tell AT&T's CEO that his internet service is too slow.  Aaron Epstein spent $10,000 for the two ads to be featured in two separate editions of The Wall Street Journal on February 3 - despite friends and family urging him to use social media to get his message out.  But Epstein - who has been an AT&T customer since 1960 - does not have Twitter or Facebook, and decided to take a more old fashioned approach in order to get the attention of the telecommunication company's boss, John T. Stankey.  Epstein settled on taking out an ad in the Dallas, Texas edition of The Wall Street Journal, where the company is based.  He also placed an ad in the New York City edition of the same publication, hoping it would attract the attention of investors.   ...
    GM CEO and chairman Mary Barra speaks during an "EV Day" on March 4, 2020 at the company's tech and design campus in Warren, Mich., a suburb of DetroitGM General Motors is set to report its fourth-quarter earnings before the bell on Wednesday. Here's what Wall Street is expecting, based on average analysts' estimates compiled by Refinitiv. Adjusted EPS: $1.64 Revenue: $36.12 billion That would be in-line with unofficial guidance from the company. In November, John Stapleton, then-GM's interim CFO, told Wall Street analysts that GM expected its pretax adjusted earnings would be around $8.5 billion and $9 billion for the second half of the year. The automaker reported pretax adjusted earnings of $5.3 billion, or $2.83 earnings per share, for the third quarter, while saying the fourth quarter would be weaker due to seasonality. GM reported an adjusted pretax profit of $105 million in the fourth quarter...
    Watch the amazing moment Calvin Johnson finds out he made the Hall of Fame Game Day recipes from your favorite celebrity chefs Why Andy Jassy should spin off the massively lucrative AWS after he becomes Amazon CEO, according to a former AWS exec © Provided by Business Insider Amazon CEO Andy Jassy will face a number of tasks in his new post, including addressing the company's lack of diversity within its leadership. Mike Blake/Reuters Amazon's AWS executive Andy Jassy will take over as CEO from Jeff Bezos in Q3. AWS is a hugely profitable part of Amazon's business — but it could make sense for Jassy to spin it off. Insider spoke to former AWS senior engineer Tim Bray about why there are "a bunch of good reasons" for Jassy to make the move. Visit the Business section of Insider for more stories. Jeff Bezos' successor as...
    EFE Agency The subsidiary of the Spanish DISA buys last assets of Petrobras in Uruguay Rio de Janeiro, Feb 5 (EFE) .- The state-owned Petrobras, the largest company in Brazil, reported this Friday that it finalized the sale of its assets in Uruguay after receiving 62 million dollars from its fuel distributor in the neighboring country, acquired by the Mauruguay company, a subsidiary of the Spanish oil company DISA.
    Biden to use Defense Production Act to increase supply of Covid-19 vaccines and tests Stimulus checks: Why you wont get another payment for weeks -- if at all Ford CEO confident in electric-vehicle strategy, says automaker wont cede the future to anyone "We're not going to cede the future to anyone" when it comes to electric vehicles, Ford CEO Jim Farley told CNBC on Friday. He said Ford's EV strategy is focused on investing in auto segments where it's "the dominant player." Ford announced a day earlier it's boosting its EV investment to $22 billion through 2025. Ford CEO on the production impact of global chip shortages CNBC See more videos SHARE SHARE TWEET SHARE EMAIL What to watch next How you can save $1 million for retirement USA TODAY How much the most populous states pay mail carriers GOBankingRates Creepy...
    VIDEO3:4603:46Ford CEO on the production impact of global chip shortagesSquawk on the Street Ford Motor CEO Jim Farley on Friday touted the automaker's electric-vehicle strategy, telling CNBC the company intends to strongly compete in the growing market segment. Farley's comments on "Squawk on the Street" came one day after Ford reported better-than-expected fourth-quarter earnings. As part of that announcement, Ford said it's increasing its electric-vehicle investment to $22 billion through 2025, almost double what it had previously pledged to spend. Shares of Ford were higher by 2.7% during Friday's session to roughly $11.70 apiece. "We're not going to cede the future to anyone," Farley told CNBC's Phil LeBeau. "Our electric strategy is very specific. We're going to invest in segments where we're the dominant player and we have scale, like the F-150, the Transit van, our Mustang." While Ford is committing new capital for the years ahead, Farley said the company's...
    How we got WiFi to students in our family shelters (opinion) Senate approves budget to sideline GOP on Biden’s $1.9T stimulus Demand for smores spiked in areas with most COVID-19 cases, the CEO of Hershey says - and the company tracked infection rates to decide its ad spend © Scott Olson/Getty Images Hershey's Milk Chocolate Scott Olson/Getty Images Hershey CEO Michele Buck said demand for s'mores ingredients spiked in areas with high COVID-19 rates. The company tracked cases and adjusted its ad spending to target those areas, Buck told CNBC. Q4 profits for Hershey rocketed 41.5% to $405.1 million, the company said Thursday.  Visit the Business section of Insider for more stories. As COVID-19 spread around the US, so did demand for s'mores, according to The Hershey Company.  Load Error "This past year, we noticed that wherever COVID case counts were elevated, we were seeing increasing...
    Kenneth Frazier, one of only a handful of black executives leading major US companies, will step down as chief executive officer at the end of June and be replaced by Chief Financial Officer Robert Davis, Merck said on Thursday. Frazier, 66, will not be handing over the reins completely, at least for now. He will remain with the drugmaker as executive chairman for a transition period. Frazier was one of only five black CEOs in last year’s Fortune 500 list, released in June 2020. That number has dropped even lower since then, as TIAA CEO Roger Ferguson, Jr. will retire in March. However, joining the ranks, Roz Brewer, who was previously Starbucks’ chief operating officer, is set to become CEO of Walgreens in March. The dearth of black CEOs at top American companies comes as corporate boards are being pressured to focus on improve their diversity, particularly among their...
    Andy Jassy, the incoming CEO of Amazon, is well known to Wall Street. But most Americans who don't run an online business likely know nothing about the executive who runs the company's cloud-computing service, an increasingly important business for the e-commerce titan. Jassy, 53, is a longtime Amazonian, having joined the company in 1997. Here's what you need to know about the Harvard Business School grad and what his elevation means for Amazon.He heads Amazon's most profitable divisionJassy heads AWS (formerly known as Amazon Web Services), which he helped build from the ground up starting in the late 1990s. AWS is the most profitable division of the e-commerce giant, and Jassy's promotion to CEO underscores the importance of cloud computing to the company. "This is a division that has been essentially the golden goose. Even though it only makes up 12% of revenues, in any given quarter it contributes...
    By David Shepardson and Nandita Bose (Reuters) - Amazon.com's new chief executive, Andy Jassy, who joined the company in 1997 and has overseen its fast-growing cloud computing business, says the key to long-term success is reinvention. "You want to be reinventing when you are healthy, you want to be reinventing all the time," Jassy, 53, said in December at a company forum. "You have got to be manancial and relentless and tenacious about getting to the truth.... You have to know what's working and what's not working." He cited Netflix's decision to cannibalize its own DVD rental business in favor of streaming. The focus on the future is fitting given Jassy's career is defined by his leading Amazon into a wholly new market: cloud computing. Amazon Web Services rents space and software programming for customers to run their technical operations on the company's servers. The arm now fuels Amazon's profits...
    MyPillow's corporate Twitter account has been banned after CEO Mike Lindell appeared to use it to call for Twitter CEO Jack Dorsey to be jailed for 'election fraud.' The Minnesota-based company's account was 'permanently suspended' on Monday, a week after Lindell himself was barred from the platform for supporting Donald Trump's claims of election fraud.  'Jack Dorsey is trying to cancel me (Mike Lindell) out!' the MyPillow account tweeted on Sunday. 'Jack will be found out and should be put in prison when all is revealed!'  Twitter has a policy against so-called 'ban evasion', or using an alternate account to tweet after being barred from the platform, and similarly banned Trump aides after the former president tried to tweet from their accounts following his own ban.  MyPillow's corporate Twitter account has been banned after CEO Mike Lindell (above) appeared to use it to call for Twitter CEO Jack Dorsey...
    Robinhood CEO Vlad Tenev is likely to be dragged in front of a Congressional committee to explain his company's actions amid a social media-fueled surge in GameStop shares. The brokerage put limits on peoples' trading and sold some customers' shares without notification, leading to accusations of it being in the tank for hedge funds that had bet against GameStop. The retailer's shares rose more than 1,600 percent over the past month as investors traded tips on the Reddit message board. Maxine Waters, the California Democrat who is the powerful head of the House Financial Services Committee, is likely to call Tenev on February 18, Politico reported, citing sources close to the matter. Waters had said on MSNBC this weekend: 'I am concerned about whether or not Robinhood restricted the trading because there was collusion between Robinhood and some of the hedge funds that were involved with this.' Robinhood had said in...
    Robinhood CEO Vlad Tenev on Friday refuted the 'conspiracy theory' that hedge funds prompted his company to halt trading on GameStop.  During an interview with Yahoo Finance, Tenev was asked to set the record straight on why the mobile brokerage firm made the decision to restrict trades involving GameStop shares as prices surged last week.  'Oh, on that conspiracy theory, I think I've over and over again said that it's not true,' Tenev said.  'Our decision to temporarily restrict customers from buying certain securities had nothing to do with a market maker or a market participant or anyone like that putting pressure on us or asking us to do that.  'It was entirely about market dynamics and clearinghouse deposit requirements, as per regulation,' he added.  Robinhood CEO Vlad Tenev (right) on Friday refuted the 'conspiracy theory' that hedge funds prompted his company to halt trading on GameStop Calling the...
    I feel paralyzed: Primary care doctors wait for COVID vaccines as patients seek answers Robinhood App Hit With Lawsuit After Trying to Shut Down GameStop Uprising Under Armour Looks on the Mend With CEO Aiming to Widen Appeal (Bloomberg) -- Under Armour Inc.’s slump may be nearing its end. The share of analysts with a buy rating on the stock rose to nearly 30% this month -- more than double the rate in October -- as Wall Street gains confidence in the turnaround plan of Chief Executive Patrik Frisk. Since taking over the top job a year ago from founder Kevin Plank, he’s cut costs and sold a fitness app purchased five years ago when the company’s stock was double its current price. For many companies in the athletic space, the pandemic has been a boon, with consumers around the world loading up on comfy clothes such as yoga...
    VIDEO3:0603:063M CEO on fourth quarter earningsSquawk on the Street 3M Chairman and CEO Mike Roman said Tuesday the industrial giant anticipates demand for its N95 respirator masks to be robust throughout 2021, even as the administration of Covid vaccines drive hopes that the pandemic's intensity will begin to wane. The medical-grade masks are considered the best option to protect against infection, and they have been in need — and at times, in shortage — throughout the health crisis. St. Paul, Minnesota-based 3M started to ramp up production of N95s about a year ago, just as the novel coronavirus, which first emerged in China in late 2019, began to capture global concern. "We do expect demand in our N95 respirator masks to be strong as we go through the year," Roman said Tuesday on CNBC's "Squawk on the Street." "We see the demand, the need, from frontline health-care workers and first responders. That's...
    U.S. states ease Covid restrictions even as variants take hold US Senate has only had 11 Black senators in its 232-year history AirAsia expects to resume flying to most routes by the end of 2021, CEO Tony Fernandes says AirAsia expects to resume flying to "a large part" of its routes by the end of 2021 but passenger capacity is not expected to return to pre-coronavirus pandemic levels until 2023, according to Fernandes. In November, the budget airline reported a fifth straight quarterly loss between July and September and is in the process of raising funds through loans and investors. The AirAsia stock is down almost 22% so far this year. © Provided by CNBC Tony Fernandes, group chief executive officer of AirAsia Bhd., speaks during a Bloomberg Television interview on the sidelines of the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 7, 2018. SINGAPORE...
    New York (CNN Business)Intel investors and analysts got their first glimpse at incoming CEO Pat Gelsinger's vision for the company during its earnings call on Thursday. Gelsinger, who starts his job on February 15, has a challenging task ahead: Intel has fallen behind competitors in manufacturing the most advanced chips, putting it at risk of losing share in key markets. But Gelsinger told analysts that Intel is not "interested in just closing gaps" with its rivals. "We're interested in resuming that position of the unquestioned leader in process technology, and that's our commitment," Gelsinger said. He joined the earnings call along with outgoing CEO Bob Swan, though he doesn't actually take over the role for three more weeks.Still, it appears that investors are wary. The company's stock fell nearly 10% on Friday, although it posted better-than-expected earnings Thursday. The semiconductor giant reported fourth quarter earnings of $1.42 per share on...
    A healthcare worker wears personal protective equipment (PPE) during a United Airlines Covid-19 test pilot program at Newark Liberty International Airport in Newark, New Jersey, U.S., on Monday, Nov. 16, 2020.Angus Mordant | Bloomberg | Getty ImagesUnited Airlines' CEO wants to make Covid-19 vaccines mandatory for its employees and is encouraging other companies do the same. It's a stance that differs from what some other carriers and companies have recently said. United had more than 60,000 active U.S. employees at the end of the year and has sent recall notices to some 17,000 other workers whose jobs were cut last year. "The worst thing that I believe I will ever do in my career is the letters that I have written to the surviving family members of coworkers that we have lost to the coronavirus," CEO Scott Kirby said at an employee town hall on Thursday, a transcript of...
    New York (CNN Business)Pat Gelsinger has a massive task ahead of him when he takes over as Intel CEO next month.The semiconductor company, whose products have served as the brains of countless computers and other important technologies, has in recent years lost its position as the industry's undisputed leader. Among the biggest challenges Intel faces: unprecedented competition from former steadfast partners, major delays in its next-generation chips, the departure of top talent and an activist shareholder banging at the door.Experts say Intel (INTC) urgently needs an infusion of fresh leadership and a bold, new strategy. "I've always sort of wanted my career to be where the center of action is at — where is the disruption and maximum innovation going on?" Gelsinger told Samsung President and Chief Strategy Officer Young Sohn in an October interview, prior to the Intel announcement. Investors are counting on Gelsinger — Intel's former chief technology...
    . Mexicana Orbia appoints new CEO MEXICO CITY, Jan 20 (.) – The Mexican petrochemical company Orbia appointed Sameer Bharadwaj as its new CEO, replacing Daniel Martínez-Valle, who resigned to undertake other projects after three years in that role. Orbia, formerly called Mexichem, reported that Martínez-Valle’s resignation will take effect as of February 1 and occurred by mutual agreement with the company’s Board of Directors, according to a statement sent to the local stock exchange on Tuesday night. .
    MicroStrategy, invested $ 425 million of its treasury funds in Bitcoin last year. The company and its CEO have been lauded for supposedly promoting the adoption of BTC by the general public. First, the start of the Bitcoin rally allowed MicroStrategy to take advantage of market conditions. It also allowed him to increase the value of his BTC holdings. By the time Bitcoin was nearing $ 13,000, MicroStrategy would have made $ 100 million in two months, on their Bitcoin purchases. In addition, the company’s “primary cash reserve asset” had increased the company’s overall visibility in the market. MicroStrategy CEO Michael Saylor says this. It’s no surprise that the CEO is now considering hosting a Bitcoin corporate strategy conference. On January 12, Saylor announced that the company’s new program will provide insight into ways to “integrate into the Bitcoin currency network.” Thus the advantages of the different strategies ”. Integrating...
    MicroStrategy, invested $ 425 million of its treasury funds in Bitcoin last year. The company and its CEO have been lauded for supposedly promoting the adoption of BTC by the general public. First, the start of the Bitcoin rally allowed MicroStrategy to take advantage of market conditions. It also allowed him to increase the value of his BTC holdings. By the time Bitcoin was nearing $ 13,000, MicroStrategy would have made $ 100 million in two months, on their Bitcoin purchases. In addition, the company’s “primary cash reserve asset” had increased the company’s overall visibility in the market. MicroStrategy CEO Michael Saylor says this. It’s no surprise that the CEO is now considering hosting a Bitcoin corporate strategy conference. On January 12, Saylor announced that the company’s new program will provide insight into ways to “integrate into the Bitcoin currency network.” Thus the advantages of the different strategies ”. Integrating...
    January 11, 2021 6 min read In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.) Who are you, and what’s your business? I’m Geneva Long, founder and CEO of Bowlus. We’re an ultra-luxury RV company featuring modern technology and exterior design with art deco roots from the 1930s. We reinvented the approach to luxury RVs to make them more in-line with the yacht industry – as far as innovation and quality of materials – than with the traditional RV industry. All of our products are handcrafted, and we also produce bespoke models, in addition to having a robust customization program. What inspired you to create this product? My first connection to the Bowlus brand occurred roughly a decade ago when...
    Report: Bucks felt double-crossed in Bogdan Bogdanovic situation with Kings If You Have These 5 Symptoms, Youre at Risk of Long COVID Snowflake CEO says Covid has shown old approach to working at the office is nonsense "This whole notion that the office is your workday home, we realize that is nonsense," Snowflake CEO Frank Slootman told CNBC. "It's really going to reduce the real estate footprint that companies have," the longtime tech executive added. Snowflake CEO on his 2021 cloud outlook CNBC See more videos SHARE SHARE TWEET SHARE EMAIL What to watch next How you can save $1 million for retirement USA TODAY How much the most populous states pay mail carriers GOBankingRates Creepy ways your company can spy on you while you work from home Veuer Major companies suspend social media advertising over online hate...
    VIDEO5:1205:12Snowflake CEO on his 2021 cloud outlookSquawk Alley Snowflake CEO Frank Slootman told CNBC on Tuesday he believes the coronavirus pandemic has fundamentally altered the role that physical offices will play for corporations going forward. "This whole notion that the office is your workday home, we realize that is nonsense," Slootman said on "Squawk Alley." "Offices ... need to be there for specific purposes — for events, for training, for meetings, specifically — but not a place to hang out 9 to 5. That's definitely changing. It's really going to reduce the real estate footprint that companies have." The advent of the Covid-19 outbreak last spring ushered in widespread remote work for many white-collar employees that has continued for months. It has proven to be "almost like a wake-up call that is just opening our eyes to the opportunity," said Slootman, a longtime tech executive who in 2019 took over...
    An animal rights activist impersonated the CEO of meat company Smithfield Food, where 1,300 workers got COVID and four died earlier this year, to dupe Fox Business host Maria Bartiromo live on air and troll the meat industry by claiming it could cause 'another pandemic'.  Matt Johnson is part of animal rights group Direct Action Everywhere. On Wednesday, he posed as Dennis Organ, the CEO of the South Dakota-based company, on Bartiromo's show, Mornings with Maria, on Fox Business. In April, an outbreak at the Smithfield plant in Sioux Falls, South Dakota, led to nearly 1,300 staff testing positive for COVID-19. Four them died and the plant was shut down for months which drove hundreds out of work.  Johnson did not speak about those who died during the interview but he did say the plants were like 'a petri dish for ll diseases' and that they could spark another pandemic.  Fox Business then ran an...
    Tesla is now more valuable than the world's top seven other car makers with a market capitalization of $615billion - but experts are warning its stock is too high and in bubble territory.  After a tumultuous past few years of production set backs and public scandals which even drove founder Elon Musk asking Apple CEO Tim Cook if he wanted to buy the company for a knock-down price, Tesla is now worth more than Ford, Honda, BMW, GM, Daimler, Volkswagen and Toyota combined.  The company was included in the S&P 500 on Monday at $665 a share which makes it the most valuable new entrant to the stock index ever. It had been valued even higher on Friday's close at $695 a share.   The sudden surge is prompting financial experts to warn that it may not last. Some say it is 'dramatically overvalued' and will plunge, along with the rest of the...
    Elon Musk has revealed that he approached Tim Cook to see whether Apple was interested in buying Tesla, but the Apple CEO refused to take his meeting. Musk said he approached Cook when the company was in serious financial trouble, and worth one tenth of its current value. He did not specify when. 'During the darkest days of the Model 3 program, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value),' he tweeted on Tuesday. 'He refused to take the meeting.' Musk, CEO of Tesla, said Tuesday he had once approached Apple about buying his company Tim Cook, the CEO of Apple, did not meet Musk and Tesla is now worth ten times what it was Apple have not commented on Musk's claim.  Musk's tweet came after a report that said Apple is still considering...
    Coronavirus updates: Moderna vaccinations set to begin Monday; New York Gov. Cuomo urges feds to ban flights from UK; 317K US deaths House panel subpoenas HHS, CDC chiefs as investigation into Covid response intensifies These 5 billionaires added the most to their net worths in 2020 The year 2020 was a difficult one financially for many people around the world, with the global coronavirus pandemic wreaking havoc on countless businesses and roughly 19 million Americans currently collecting unemployment benefits. © Provided by CNBC SpaceX owner and Tesla CEO Elon Musk poses as he arrives on the red carpet for the Axel Springer Awards ceremony, in Berlin, on December 1, 2020. But for some of the weatlhy, it's a very different story. During 2020, Amazon's sales have spiked, as social distancing restrictions forced people to do even more of their shopping online, while Tesla's newfound ability to consistently turn a...
    US Coronavirus: The daily death toll from Covid-19 just exceeded the deaths from 9/11 on this important day for vaccine development Should Facebook be broken up? FTC, 46 states sue tech giant for antitrust over Instagram, WhatsApp acquisitions What to Know Before the Stock Market Opens Thursday As stimulus package talks stalled yesterday in Congress, the Dow fell more than 105 points, closing at 30,068.81. The S&P 500 fell 29.43 points to close at 3,672.82. Even Nasdaq fell for the first time in 11 days, losing close to 244 points. © Daniel Krason / Shutterstock.com AirBnB home rental service But it’s not all gloom. Initial public offerings were the name of the game this week, and these new investment opportunities seem to foretell continued optimism. 1. DoorDash celebrated a successful first day. DoorDash Inc. (NYSE: DASH) closed high on the New York Stock Exchange today, zooming up 85% past...
    The CEO of Goya Foods has credited Rep. Alexandria Ocasio-Cortez for boosting the company's sales by joining calls for a boycott, proclaiming her an honorary 'employee of the month.' The controversy in July came after CEO Bob Unanue praised President Donald Trump, leading to outcry from celebrities and liberal figures who demanded a boycott of the company. Ocasio-Cortez voiced her support for a boycott by declaring she would make her own version of a popular Goya seasoning, tweeting: 'Oh look, it's the sound of me Googling 'how to make your own Adobo'.' 'When she boycotted us, our sales actually increased 1,000%,' Unanue claimed in an interview with The Michael Berry Show on Monday. 'So we gave her an honorary, we never were able to hand it to her, but she got employee of the month for bringing attention to Goya and our adobo.'  The controversy in July came after CEO...
    The CEO of the Silicon-Valley based cloud data-warehousing firm Snowflake Inc. collects a staggering $95 million pay out every month, as the tech company's share prices continue to surge. Earlier this week, Snowflake reported that its third-quarter revenue more than doubled on the same time period last year, and it stock has jumped 223 percent since its record-breaking September 15 initial public offering (IPO). Chief Executive Officer Frank Slootman is reportedly reaping the benefits of the company’s success, which has helped to make the 62-year-old one of the best-paid technology executives in the industry. A compensation package he received upon joining Snowflake in April 2019 reportedly awards him a selection of options every month for four years that are now worth more than $108 million each, or about $1.3 billion annually, according to Bloomberg. Slootman’s pay package includes in excess of 13.7 million options each with a fixed price of...
    Antonio Neri, President and CEO of Hewlett Packard Enterprise.Anjali Sundaram | CNBC Hewlett Packard Enterprise is the latest tech company to shift its focus away from Silicon Valley, announcing Tuesday that it will relocate its headquarters from San Jose, California, to Houston, Texas. "HPE's largest U.S. employment hub, Houston is an attractive market to recruit and retain future diverse talent, and is where the company is currently constructing a state-of-the-art new campus," the company said in its fourth quarter earnings release. It's unclear how many employees the move will affect, though the company said no layoffs will be with the move. HPE will keep the San Jose campus, and will consolidate some of its Bay Area sites there, it said. For its fourth quarter, the company reported: Revenue: $7.21 billion vs $6.88 billion expected, according to a consensus estimate from Refinitiv. Earnings: $0.37 per share (adjusted), compared...
    The CEO of one of the largest health systems in the Dakotas is leaving his role days after he sent a controversial email to employees about his recovery from the coronavirus and his self-claimed immunity from the disease. The board of trustees of Sanford Health announced Tuesday that it "mutually agreed to part ways" with longtime president and chief executive Kelby Krabbenhoft.  The 62-year-old told employees in an email Wednesday that he will not be wearing a mask to the office because he recovered from the coronavirus and is therefore immune, according to The Associated Press. Krabbenhoft, who is not a physician, reportedly told employees that he's immune to the virus for "at least seven months and perhaps years to come" — a statement that is not supported by the science. "For me to wear a mask defies the efficacy and purpose of a mask and sends an untruthful message that I...
    Ivan Menezes, CEO of DiageoCourtesy of Diageo Drinks-maker Diageo is keen to buy further premium brands after acquiring spirits firms in the U.S. and U.K. in recent months. In August, the company announced it would buy Aviation American Gin, a brand part-owned by actor Ryan Reynolds, in a deal valued at around $610 million. In October it agreed to buy the U.K.'s Chase Distillery, which produces gin and vodka from British potatoes and apples, for an undisclosed sum.   The acquisition strategy is driven by people drinking "better, not more," Menezes told CNBC's "Squawk Box Europe," a trend that has held steady throughout the coronavirus pandemic.  "The premiumization trend has continued through this period and I'd say that's the biggest source of value creation for a company like Diageo, people drinking better and trading up to a Talisker single malt or a Johnnie Walker Blue (whisky) in China," Menezes said...
    Game Stop store in New York City.Michael Brochstein | LightRocket | Getty Images The shift away from brick-and-mortar retailers in favor of online shopping has hurt GameStop over the past decade, pushing the company's stock down nearly 40% in that time period. But Ryan Cohen, the former CEO of Chewy, thinks the maligned video-fame retailer can turn itself around by shifting its focus away from physical stores in favor of a building robust e-commerce platform. Cohen thinks GameStop can use its brand and large customer base to make that transition. He has taken a large stake in the company to try and push it in that direction.Company: GameStop Corp (GME)Business: GameStop is a retailer that sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise primarily through retail operations, with all stores engaged in the sale...
    VIDEO3:1903:19TeamViewer: Looking forward to normalization of business environment post-pandemicEast Tech West The chief executive of a German software company said feedback from customers indicates that companies will let staff spend half their time working from home after the coronavirus pandemic passes. Speaking to CNBC's Geoff Cutmore, Oliver Steil of TeamViewer questioned whether companies would allow their staff to work from home all the time, instead saying that he believes most firms will adopt a "hybrid" approach. Steil's company builds software that's designed to let businesses manage computers and other devices remotely. Social media giant Twitter said in May that some of its workforce can work from home into perpetuity if they want. Facebook said in August it will allow employees to work remotely until July 2021. But not every task that companies want or need to do can be handled remotely. "I think many companies will need to onboard new...
    Berlin (CNN)The European Union has formally authorized a fourth contract with the US pharmaceutical giant Pfizer and their German lab partner BioNTech to procure up to 300 million doses of their candidate coronavirus vaccine, should it be proven to be safe and effective against the virus. "In the wake of Monday's promising announcement by BioNTech and Pfizer on the prospects for their vaccine, I'm very happy to announce today's agreement ... to purchase 300 million doses," European Commission President Ursula von der Leyen said in a statement on Wednesday.Pfizer announced Monday that an early look at data from its coronavirus vaccine shows it is more than 90% effective -- a much better than expected efficacy if the trend continues.The company's CEO's Albert Bourla called it "the greatest medical advance" in the last 100 years.Pfizers CEO sold $5.6 million in stock the day he announced promising vaccine newsAccording to BioNTech, the EU...
    VIDEO2:4902:49Beyond Meat CEO speaks out on McDonald's McPlant line supplier mysteryRestaurants Beyond Meat CEO Ethan Brown on Tuesday sought to clear the air on his company's relationship with McDonald's after shares tanked the day prior on news of the restaurant chain's forthcoming plant-based line. Beyond Meat investors reacted negatively when the meatless food maker was not named as a supplier for McDonald's "McPlant" burgers, sending the stock down nearly double digits at its lows Monday. The stock recovered much of those losses after Beyond implied it is behind the product line, though the verdict remains out and Brown is walking that suggestion back. "I believe our relationship with McDonald's is very strong. We're involved with McDonald's on a number of different fronts. We're doing things now to prepare for things in the future that involve McDonald's," he told CNBC's Jim Cramer on "Mad Money." "I just can't go out and...
    File photo: Jason Kilar, then-CEO of Hulu LLC.Kimimasa Mayama | Bloomberg | Getty Images AT&T's WarnerMedia is beginning thousands of layoffs Tuesday as the company formerly known as Time Warner restructures around streaming video. The job cuts are part of AT&T's plan to eliminate redundant positions within WarnerMedia and refocus the company around growing HBO Max, the company's flagship streaming video service. Many of the top executives at Time Warner's HBO, Turner and Warner Bros. production studio have already departed before Tuesday's announcement, including ex-HBO chief Richard Plepler, ex-Turner president David Levy and ex-Warner Bros. Entertainment CEO and Chairman Kevin Tsujihara. WarnerMedia CEO Jason Kilar, who took the job earlier this year after running Hulu from 2007 to 2013, has been evaluating the company and working to break down old Time Warner silos, along with AT&T CEO John Stankey. Stankey was WarnerMedia's CEO before elevating to AT&T's top job and...
    LGBTQ Rights Milestones Fast Facts Music sends a pleasurable chill through the brain Whole Foods CEO says the company hasnt lost its identity, but likened the Amazon acquisition to a marriage: If you dont change, youre going to get a divorce © Provided by Business Insider Whole Foods CEO John Mackey. Dustin Finkelstein/Getty Images for SXSW Whole Foods CEO John Mackey said the company's acquisition by Amazon is like a marriage and that has led to some changes at grocery chain.  "I always use this analogy, when you get married, do you change? And the answer is, 'duh.' If you don't change, you're going to get a divorce," Mackey said during an episode of Freakonomics Radio. "So, Whole Foods is changing, but not because Amazon's cramming a bunch of things down our throat, but because they do a lot of things that we want to take in." Amazon...
    Alphabet CEO Sundar Pichai gestures during a session at the World Economic Forum (WEF) annual meeting in Davos, on January 22, 2020.(Photo by Fabrice COFFRINI / AFP) (Photo by FABRICE COFFRINI/AFP via Getty Images) Google wants investors to know its cloud business isn't going anywhere. During its third quarter earnings call Thursday, the company — which doesn't provide revenue guidance — said it will report start reporting operating income (or losses) for its cloud business, joining Amazon in giving investors more details. The company began reporting cloud revenue for the first time earlier this year. Google Cloud brought in $3.44 billion in revenue versus the $3.32 billion analysts expected, according to its Q3 results. That's up 45% from $2.38 billion the same period a year ago, which is faster growth than Amazon Web Services (up 29%) although slightly slower than Microsoft Azure (up 48%). The efforts come as the company...
    Amazon CEO Jeff Bezos is reportedly looking to expand the media side of his business empire and CNN could be his next target, according to a new report.    The billionaire tech entrepreneur has allegedly set his sights on the network amid rumors parent company AT&T could sell the news station in a bid to shed some of its assets. Fox Business senior correspondent Charles Gasparino on Tuesday reported that there is 'pretty hot and heavy' speculation among investment sources on CNN's potential sale. Amazon CEO Jeff Bezos is reportedly looking to buy CNN to add to his media business portfolio The news network could be up for sale as its parent company AT&T works to shed some of its debt load following its purchase of Time Warner in 2018  Those insiders added that rumors are 'rampant' that Bezos is interested in being the new owner.  Bezos did...
    Quibi founder Jeffrey Katzenberg told soon-to-be laid off staffers to listen to a song from the animated film Trolls as he told them the short video service would shutter, according to a new report. In a video call with staff on Wednesday, an emotional Katzenberg suggested the song Get Back Up Again, sung by actress Anna Kendrick, might lift employees' spirits, people familiar with the call told the Wall Street Journal.  Hours later, the entertainment startup that had raised $1.75 billion in capital publicly confirmed that it would wind down operations, just six months after it launched to much fanfare in April. In the 2016 film Trolls, the song Get Back Up Again plays as Princess Poppy begins her journey through the Troll Forest. It includes the lyrics 'if you knock knock me over, I will get back up again.'   Quibi founder Jeffrey Katzenberg told soon-to-be laid off staffers to...
    JCP at Queen’s Center Mall in Queens City, New York. Richard Levine | Corbis | Getty Images J.C. Penny CEO Jill Soldow said Tuesday that the bankrupt retailer expects to leave episode 11 before the holiday season. The department store chain said in a news release that it had taken another step to sell to US mall owners Brookfield Property Partners. Simon Property Group. It has filed a draft property purchase agreement, which is close to a contract. The progress of the bankruptcy process may add more clarity as Penny prepares for holiday shoppers, and may send a clearer message to sellers about its future. Like other retailers, it also deals with corona virus infection and depression. This Agreement is subject to further court approval and other conditions. The company said an investigation was set for early November. At a court hearing in September, Joshua Zusberg, a law firm in...
    A top executive at one of the nation’s leading tech companies donated $250,000 to a super Political Action Committee (PAC) supporting Senator Lindsey Graham’s re-election campaign, as his company closed in on a coveted deal to become TikTok’s US technology partner. Oracle CEO Larry Ellison made the quarter of a million dollar donation to the Security is Strength PAC, which is paying for ads supporting Graham in his reelection bid, The Verge reported. The donation, described as unusually large for Ellison, was made on September 14th – just hours before Oracle announced it had been selected by the Beijing-based social media platform TikTok to be its cloud technology provider. Oracle staved off competition from the likes of Microsoft and a number of other high-profile bidders in order to save the popular app, after President Trump pledged to ban it in the US over data-sharing concerns unless it was sold by...
    In early September, Palantir, a controversial tech company set to go public later that month, began its investor day webcast with a smoothly-edited scene of Alex Karp, the company's CEO, roller-skiing on a path in a mountain forest. Pumping his ski poles, Karp heads off-path up a hill until he stops before the camera. Looking directly into it, he launches into a monologue about Palantir's investor day, reflecting the optimism that earned the company an estimated $22 billion valuation in late September, despite never turning an annual profit in its seventeen-year-history. The mountain setting alone seems to explain why Karp chose downtown Denver for the company's new headquarters, which Palantir moved into in August. Related Stories GEO Group Coerced Aurora ICE Detainees Into Cleaning Common Areas Aurora Immigration Court Shuts Down Hearings After Major COVID Outbreak Colorado Politicians Concerned About Rumored ICE Operation in Denver Beyond the great...
    Melanie Whelan left SoulCycle in November last year after four years The CEO of SoulCycle was 'pushed out' of the company after buying two Dior bags on the company credit card, former employees have revealed.  Melanie Whelan left SoulCycle in November last year after four years as CEO of the spinning giant that boasts a cult following.  She had been given the job by the head of Equinox, another luxury fitness brand, after they bought SoulCycle in 2011.  In a series of interviews with Business Insider published on Friday, former staff claim that Whelan was ill-prepared for the role, and created a 'toxic' work environment by expecting staff to give up their work-life balance, as she did.  They claim the tipping point for her departure was the Dior bag incident which happened in the summer of 2019.  One of the bags was a gift for Patrick Ryan-Southern as a congratulations...
    New York (CNN Business)IBM is spinning off a significant part of its business to focus on new opportunities in hybrid cloud growth, the company announced on Thursday. The IT services unit of IBM's Global Technology Services business will become a separate public company. It represents a major departure from IBM's previous priorities and one of the boldest moves in the company's more-than-a-century-long history.IBM's managed infrastructure services business represented nearly a quarter of IBM's revenue last year. But IBM believes its future lies in the hybrid cloud -- a technical setup wherein companies may use multiple clouds in addition to their own on-premises servers. IBM's platform gives companies tools to more easily navigate between those various environments.New CEO Arvind Krishna made the hybrid cloud the focus when he took the reins from former CEO Ginni Rometty earlier this year. IBM has made large investments in cloud computing over the past several...
    Supreme Court nominee Amy Barrett signed anti-abortion letter accompanying ad calling to overturn Roe v. Wade Trump says economic recovery is V-shaped, Biden says its a K. Whos right and what does it mean? How a New CEO at Ford Plans to Turn the Automaker Around On his first day on the job as CEO of Ford Motor Co. (NYSE: F), Jim Farley has outlined his key goals for turning around the 117-year-old carmaker. He also announced the first of several organizational changes in the company's top managers. Farley's key turnaround goals are allocating capital to Ford's strongest franchise (that would be trucks and sport utility vehicles), building "compelling, uniquely Ford electric vehicles at scale" and pushing a new autonomous vehicle business. © Provided by 24/7 Wall St. His immediate objectives include top-line growth, operational excellence, improved customer satisfaction, "sustained" EBIT margins of 8% and "strong" automotive...
    Oregon prison inmates find redemption, adrenaline in fighting wildfires Meet the K-shaped recession, where professional workers are largely fine and everyone else is doing awful Apple is giving CEO Tim Cook over $38 million in stock to stay with the company through 2025 © Getty Images, Justin Sullivan Apple CEO Tim Cook. Getty Images, Justin Sullivan Apple CEO Tim Cook was granted 333,987 restricted stock units by Apple recently, worth approximately $38 million based on the current Apple stock price. Those units, which vest annually starting in 2023, are intended to keep Cook with Apple until at least 2025. Cook could earn an additional 333,987 shares in Apple stock — which could vest at 200% of their value — depending on Apple's performance across that period. In total, based on current Apple stock value, Cook has over $110 million in Apple stock. Visit Business Insider's homepage for...
    Godiva CEO Annie Young-Scrivner is leaving the high-end chocolatier after three years on the job. Young-Scrivner plans to step down at the end of November to “pursue a new opportunity outside of the company,” Godiva said in a statement Thursday. The New York-based candy maker has started searching for her replacement and Young-Scrivner will help with the leadership transition, the company said. Young-Scrivner joined Godiva in 2017 after holding senior gigs at Starbucks and PepsiCo. She tried to introduce the brand’s luxury sweets to the broader consumer market by selling cheaper items at Target and other retailers, according to Bloomberg. Born in Taiwan to Chinese parents, Young-Scrivner immigrated to the US when she was 7 and started her career with a 20-year stint at Pepsi, where she served as president and chairman of PepsiCo Food in China before moving to Starbucks in 2009. She also sits on the boards of...
    As TechCrunch points out, public reports by ByteDance and Oracle have differed on the terms of the proposed deal, and the president has made public statements that he would not approve any deal where the Chinese company retained partial ownership of the app. ByteDance has applied for an export license in China to facilitate the deal, assuming it is approved. NPR reporter Bobby Allyn posted a declaration submitted by new TikTok CEO Vanessa Pappas, which lays out many of her arguments for an injuction. The CEO cited the harm that could be done if the app is banned, even if it’s later reinstated, including notes on what happened when a ban went into place in India. TikTok also argued that the pending action has caused millions of dollars in lost business deals, as well as dozens of prospective employees declining to join the company.
    Chip Somodevilla/Getty Images A collection of leaked audio recordings have provided a new look into Facebook CEO Mark Zuckerberg’s struggle to address the political and free speech challenges surrounding his social media platform. The Verge obtained a multitude of audio recordings and posts from company insiders, many of which shed light on how Facebook contended with the coronavirus pandemic and sociopolitical events throughout the summer of 2020. The trove of audio also delves into Facebook’s internal conversations on public image concerns, political pressures, and their efforts to deal with misinformation and election interference. Many of the contents originated from a series of company Q&As Zuckerberg held weekly, during which, employees would ask him questions and he would livestream his answers to the ones that got the most demand. According to The Verge’s reporting though “his weekly Q&As now regularly spill over with outrage and dissent.” “Throughout the...
    Bill Russell: Career retrospective 8 Amazing Side Effects Of Eating Avocados Every Day The 30 highest-rated US and UK CEOs during the coronavirus pandemic, according to employees © Mark Neuling/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images Boston Scientific CEO Michael Mahoney Mark Neuling/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images The coronavirus pandemic has been a test for corporate leaders. People, especially employees, are watching how CEOs respond to troubling times and judging them based on it. To find out which CEOs are viewed most favorably by their employees during the pandemic, jobs site  Glassdoor analyzed anonymous employee reviews posted on its website between March and July. Leaders from Zoom, DocuSign, Box, and Boston Scientific made the list. Visit Business Insider's homepage for more stories. The coronavirus pandemic has been, and continues to be, a major test for corporate leaders. Load Error The public is watching whether CEOs lay...
    Oracle is not a consumer-facing company, instead selling its database and cloud systems to large companies and organizations. As BBC News reports, it offers infrastructure to a number of government bodies including the CIA, NSA, as well as Naval and Air Force intelligence. Oracle’s close ties with the US, and its co-founder’s friendship with the president, will likely mean that there’s a higher chance of approval. CNBC believes that while Oracle is not interested in becoming a social giant like Facebook, it could look to leverage TikTok’s analytics to improve its own advertising platforms.  TikTok’s modern history begins in August 2018, when lip-sync app Musical.ly was purchased by Chinese company ByteDance for an undisclosed sum believed to be $1 billion. ByteDance owns Douyin, a China-only video-sharing platform that does a similar job, albeit with geographic limitations. After the purchase, the Musical.ly was rebranded as TikTok and became the version of...
    Albert Bourla, PfizerGian Ehrenzeller | Keystone | AP Pfizer's coronavirus vaccine could be distributed to Americans before the end of the year if found to be safe and effective, CEO Albert Bourla said Sunday.  The drugmaker should have key data from its late-stage trial for the Food and Drug Administration by the end of October, Bourla said during an interview on CBS' "Face the Nation." If the FDA approves the vaccine, the company is prepared to distribute "hundreds of thousands of doses," he said.  Because of the pandemic, U.S. health officials and drugmakers have been accelerating the development of vaccine candidates by investing in multiple stages of research even though doing so could be for naught if the vaccine ends up not being effective or safe. The U.S. pharmaceutical giant has been working alongside German drugmaker BioNTech. In July, the U.S. government announced it would pay the companies $1.95 billion to produce and deliver 100...
    Fraser led the Latin America division that includes the bank’s operations in 23 countries including Mexico. In 2019, only 6 percent of the CEO positions of finance companies were held by women. Photo: EMMANUEL DUNAND / . / . Citi announced Thursday that it will appoint Jane fraser, the current president of the bank, as CEO, marking the first time a Wall Street bank will be run by a woman. Fraser has been with the company for 16 years and was considered a top job candidate at Wells Fargo last year, will replace current CEO Michael Corbat when he resigned in February 2021 after eight years as CEO and 37 years working for the bank. “I am honored by the Board’s decision and thank Mike for his leadership and support. The way our team has come together during this pandemic shows what Citi...
    Albert Bourla, chief executive officer of Pfizer pharmaceutical company, arrives to ring the closing bell at the New York Stock Exchange, January 17, 2019.Drew Angerer | Getty Images Pfizer CEO Albert Bourla warned Tuesday that people who don't take the Covid-19 vaccine will become a "weak link" that allows the coronavirus to continue to spread. Bourla, whose company is currently in late-stage testing for a potential coronavirus vaccine, said he understands the public's concerns about vaccines, which are being developed in record time. He said Pfizer will only request authorization from the Food and Drug Administration after data shows that its vaccine is safe and effective.  But he also said people who decide against taking the vaccine once available "will not only effect their lives." They "will effect the lives of others because if they don't vaccinate, they will become the weak link that will allow this virus to replicate," he told NBC's...
    London (CNN Business)Every August, investors turn their attention to Jackson Hole, Wyoming, as the world's top central bankers gather for an exclusive meeting on the state of the economy. This year, during a pandemic and in the face of unprecedented central bank stimulus, the stakes for the conference — which, in true 2020 fashion, will be held virtually — are even higher.What's happening: Federal Reserve Chair Jerome Powell kicks off the symposium with a speech on Thursday morning.Powell is expected to indicate that the Fed could keep interest rates lower for longer. Any dovish rhetoric would be welcomed by investors, who view easy money from the Fed as a key justification for the recent run-up in markets.The chairman is also poised to discuss the results of a comprehensive review of the Fed's strategy, which before the Covid-19 crisis failed to consistently push inflation close to the central bank's 2% target...
    Chairman of Direct-to-Consumer & International division of The Walt Disney Company Kevin Mayer took part today in the Disney+ Showcase at Disney’s D23 EXPO 2019 in Anaheim, Calif., August 23, 2019.Jesse Grant TikTok CEO Kevin Mayer has quit the company just months after his appointment.   "In recent weeks, as the political environment has sharply changed, I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for. Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decided to leave the company," Mayer said in a letter to employees obtained by CNBC. Mayer joined TikTok on June 1 from Disney.  The short-video-sharing app is being forced to sell its U.S. business by the Trump administration, which says...
    A guest at the 'covid party' that caused TikTokker Bryce Hall's house to have its power shut off by the Los Angeles Mayor has blasted the move as 'communism' and says people scared of the virus are 'chicken s**t'. Michael Hollywood, an entrepreneur who provides strippers and dwarfs at LA parties, spoke exclusively to DailyMail.com about TikTok star Bryce Hall's 21st birthday bash in Encino on August 14 that sparked the power shutoff. Police posted warnings at Hall's Hollywood Hills mansion after he hosted a raucous party with dozens of guests failing to practice social distancing or wear masks on August 8 – but the final straw was his 21st blowout with strippers and booze just six days later at an Encino pad where videos showed hundreds of guests including other TikTok stars. LA Mayor Eric Garcetti announced Wednesday he had ordered the city to shut off power to Hall's...
    West Virginia will have no fans for home opener How Covid-19 is transforming grocery e-commerce in Dubai Warren Buffett advised Airbnb CEO Brian Chesky to get rich slow. The home-sharing platform just filed to go public during a pandemic. © Getty Images Warren Buffett. Getty Images At a lunch years ago, Warren Buffett advised Airbnb CEO Brian Chesky to "get rich slow." Chesky sped up the process on Wednesday by filing to take his home-rental company public, even though it's still battling the coronavirus pandemic. Airbnb's bosses cut costs, raised $2 billion in capital, and laid off 25% of their workforce earlier this year, as they expected annual revenue to plunge by more than 50%. Airbnb said that on July 8, customers booked more than 1 million nights of stays worldwide for the first time since March. Visit Business Insider's homepage for more stories. Warren Buffett once...
    EV startup Canoo is going public at a valuation of $2.4 billion in an effort to raise enough money to help bring its first vehicle, a VW microbus-style van that was first revealed last year, to market. The company announced Tuesday that it was merging with Hennessy Capital Acquisition Corp IV, a so-called “blank check” special purpose acquisition company. As a result, Canoo will become a publicly traded company listed on NASDAQ under the new ticker “CNOO.” It’s the same type of “reverse merger” move that hydrogen trucking company Nikola pulled off earlier this year to go public and that EV startup Fisker is currently trying to execute. Canoo is also the latest company to cash in on a sudden funding frenzy in the electric vehicle startup space, which has seen fresh money go to Karma Automotive, China’s Li Auto and XPeng, and others. Canoo is unique insofar as...
    Leading after Steve Jobs isn’t a mission anyone could have successfully taken on, but with style far removed from popular Apple co-founder Tim Cook has come out on top. Almost ten years after his appointment as CEO of the company that today claims to be the most valuable in the world and the most important in the field of technology, The Wall Street Journal has shared an extensive article on the profile of the current Apple representative. Although it has been a job focused on his role as an executive of the company, this allows to see many faces of Tim Cook, built on the stories of his peers and of course, backed by the quantitative achievements achieved by Apple during his role as CEO. There are no tricks in Tim Cook’s success The report begins by highlighting the differences in leadership between Cook and Steve Jobs, including Cook’s more...
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