Starbucks' founder-in-effect, chairman and chief executive Howard Schultz will hand over the CEO position to COO Kevin Johnson in April to "shift his focus to innovation, design and development of Starbucks Reserve Roasteries around the world, expansion of the Starbucks Reserve retail store format and the company's social impact initiatives," the company announced yesterday.
Nestle can alter the structure of sugar so that it will be able to use 40% less of it to achieve the same degree of sweetness in its chocolate, it announced yesterday. It hopes to start using the process, which is patent pending, in the likes of its KitKat and Crunch bars starting in 2018.
Uber told a European court yesterday that it is not a taxi company -- an assertion that has major implications and ramifications for other businesses with which the service may align or compete.
AT&T yesterday dished out the details on its DirecTV Now streaming service that will launch tomorrow with a promotional basic package of 60 channels for $35 a month. Purchasers can stream on two devices at once using their own broadband or wireless connection. Subscribers to AT&T wireless services will not be hit with data usage charges after they hit a prescribed limit.
Disney's animated "Moana" was a huge hit at the box office over the holiday weekend despite a marketing gaffe during Halloween; Warren Beatty's "Rules Don't Apply, meanwhile, showed its age and bombed with a "breathtakingly bad $2.2 million for the five-day period," as one reporter put it.
Dr Pepper Snapple is buying Hamilton, N.J.-based Bai Brands, purveyor of premium enhanced water in flavors such as Congo Apple Pear, Ipanema Pomegranate and Sumatra Dragonfruit, for $1.7 billion in cash.
Tyson Foods is replacing CEO Donnie Smith with president Tom Hayes after announcing dismal prospects for next year and fourth-quarter results yesterday that were worse than analysts anticipated.
Wells Fargo now needs to get to get approval from regulators before making changes in its board of directors or with senior executives as well as in making "golden parachute" payments to employees headed for the exit, the Office of the Comptroller of the Currency announced late Friday in revoking some provisions of its original settlement with the bank.
Rather than scroll through the latest fake news stories while you're standing on line to order that All-Day Egg McMuffin, get ready to place your order on a self-service kiosk, take an assigned seat and await delivery by wait staff. And, next year, you'll be able to order and pay from your mobile device before you even walk through the door or drive up to the window.
In advance of the Los Angeles Auto Show opening tomorrow, Honda yesterday previewed a prototype of its six-speed manual-transmission Honda Civic Si that soon will be in showrooms and, one imagines, on abandoned stretches of pavement favored by kids who live to rev their engines.