Starbucks offered incoming CEO and Chair Brian Niccol a pay bump and hefty one-time awards to lure him from his prior role as chief executive at Chipotle Mexican Grill. Niccol officially takes the reins at the embattled coffee chain on Sept. 9. As CEO, he’ll be tasked with turning around the company’s slumping sales, improving customers’ experience inside stores…
Cisco shares popped in extended trading on Wednesday after the networking company said it’s cutting 7% of its global workforce and reported quarterly results that topped analysts’ estimates. Here are the key numbers: Earnings: 87 cents per share, adjusted, vs. 85 cents per share expected, according to LSEG. Revenue: $13.64 billion vs. $13.54 billion expected, according to LSEG. Cisco…
Republican presidential nominee former President Donald Trump speaks at a campaign event at Harrah’s Cherokee Center on August 14, 2024 in Asheville, North Carolina. Grant Baldwin | Getty Images Republican presidential nominee Donald Trump attempted to paint a bleak picture of the U.S. economy Wednesday and pin it on his Democratic rival, Vice President Kamala Harris. But Trump frequently…
During Google’s Pixel phone launch on Tuesday, a product director named David Citron took the stage to show off the mobile capabilities of the company’s new AI assistant, Gemini. Things got awkward right after the presenter told the audience, “all the demos today are live, by the way.” In front of a big crowd of media and analysts at…
A sign is posted in front of Intel headquarters on August 01, 2024 in Santa Clara, California. Justin Sullivan | Getty Images News | Getty Images Intel has sold its 1.18 million share stake in British chip firm Arm Holdings, according to a regulatory filing, as the California chip designer shores up its balance sheet amid intense competition. The…
Japanese Prime Minister Fumio Kishida attends a State Department luncheon held in his honor in Washington, U.S., April 11, 2024. Craig Hudson | Reuters Japan’s Prime Minister Fumio Kishida announced Wednesday he will not be running in the Liberal Democratic Party presidential election due next month. Kishida said in a press conference that it is important for the LDP…
Brian Niccol, CEO of Chipotle Anjali Sundaram | CNBC Wall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decadeslong Howard Schultz era. Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job in March 2023 after…
Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol, sending its stock soaring 24.5%, its best day ever. Chipotle’s stock fell over 10% on the news that Niccol would leave after a successful tenure at the burrito chain. Narasimhan’s departure is effective immediately. Starbucks CFO Rachel Ruggeri will step in as interim chief executive until…
Elon Musk (L) and Donald Trump (R). David Swanson | Vincent Alban | Reuters Elon Musk’s much-hyped interview of former President Donald Trump on the social media platform X was nearly derailed early on by technical glitches in the first minutes of the scheduled start time on Monday evening. Users trying to log on to the event, which was…
People shop at a grocery store in Brooklyn on July 11, 2024 in New York City. Spencer Platt | Getty Images Consumers grew more confident in July that inflation will be less of a problem in the coming years, according to a New York Federal Reserve report Monday that showed the three-year outlook at a new low. The latest…
