• Meal-kit Company Chef'd Gets Burned As Financing Falls Through
    Chef'd, which had backing from Campbell Soup, Smithfield Foods and venture capitalists, has abruptly ceased operations after experiencing "some unexpected circumstances with the funding for the business," as CEO Kyle Ransford put it in a pink-slip email to his more than 350 employees in Los Angeles County and Brooklyn, N.Y., Monday.
  • Elon Musk's Stormy Weekend On Twitter
    Tesla, SpaceX and The Boring Company chief Elon Musk appears to have a production problem that has nothing to do with automobiles: Too many tweets - his own, as well as those by critics reacting to a news story that he had donated $38,900 to Protect the House, a Republican PAC.
  • Walmart May Find Itself In Sync With Capital One Credit Cards
    Walmart is shopping for a better deal on its credit-card partnership that is currently with Synchrony Financial but may move - in whole or part - to Capital One as the retailer looks specifically to expand Walmart Pay, its budding mobile payments platform.
  • Hoffmann Takes Over From Travis As Dunkin' Brands CEO
    Fittingly, the Wordsmith "Word of the Day" is "top banana" because Dunkin' Brands Group has a new one. David Hoffmann, who was recruited from McDonald's in October 2016 with the expectation that he would eventually succeed Nigel Travis as CEO, did so yesterday. He will oversee about 12,500 Dunkin' Donuts restaurants and 7,900 Baskin-Robbins restaurants worldwide.
  • Pfizer Retreats After Trump Tweet Blasts It For Price Increases
    Pfizer yesterday put a freeze on planned price increases for about three dozen drugs after President Donald Trump finger-wag tweeted Monday that it - and others - "should be ashamed" for "taking advantage of the poor" by raising prices "for no reason." That decision - which followed an ensuing discussion between Trump, Health and Human Services Secretary Alex Azar and Pfizer CEO Ian Read - in turn earned the New York-based company a slap-on-the-back tweet from the president last evening.
  • Starbucks Putting The Lid On Single-Use Plastic Straws By 2020
    Starbucks will eliminate the single-use of more than one-billion plastic straws yearly from its more than 28,000 locations worldwide by 2020, replacing them with a recyclable plastic lid and straws made from compostable plastic or paper.
  • Report Says U.S. Tried To Water Down WHA's Breast-Feeding Resolution
    With the financial interests of infant-formula manufacturers as its purported motivation, the U.S. delegation at a meeting of the U.N.-affiliated World Health Assembly (WHA) in Geneva in May tried to weaken a widely supported resolution calling for governments to support breast-feeding, the New York Times' Andrew Jacobs reports.
  • The Trade War Is On: China Retaliates With Tariffs On U.S. Imports
    As tariffs on $34 billion worth of Chinese goods took effect at 12:01 a.m., the Chinese government shot back with tit-for-tat 25% duties on 545 U.S. goods, including agricultural staples such as soybeans, corn, pork and poultry. Meanwhile, President Donald Trump threatened to impose even bigger tariffs than the additional tariffs he had threatened already. As the BBC reports, Trump on Thursday said that the amount of Chinese goods subject to tariffs could rise to more than $500 billion. Quoth he: “You have another 16 [billion dollars] in two weeks, and then, as you know, we have $200 billion ...
  • Struggling Barnes & Noble Fires CEO Over Unspecified 'Policy Violations'
    Barnes & Noble fired CEO Demos Parneros Tuesday. The book chain cited "violations of its policies," but said that these do not involve disagreements over financial reporting, policies or practices, or any potential fraud. Three senior executives will share Parneros's duties as B&N's search for a new CEO — its fifth within a decade — is conducted. Parneros will not receive any severance payment and is no longer a member of the board. Leonard Riggio remains executive chairman and “will be involved” with managing the company, according to the release announcing Parneros's termination. CFO Allen Lindstrom, chief merchandising officer Tim ...
  • Japan's Uniqlo Snatches Roger Federer From Nike With $300M Deal
    The defending champion shocked the crowd by wearing nearly all Uniqlo-branded apparel for his Wimbledon match yesterday--except for Nike athletic shoes. Uniqlo doesn't make tennis shoes.
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