Members of the House Financial Services Committee hammered Wells Fargo CEO John Stumpf yesterday for his leadership at a time when at least 5,300 underlings were fired for cross-selling transgressions. Some members of the panel said Stumpf should lose his job or go to jail. Others indicated that the bank should be broken up. And the sentiment that there may be other rotten big banks in the barrel - look for more hearings exploring this line of reasoning - was expressed.
Like an aging champion throwing in the towel after years of steady decline on the playing field, BlackBerry said yesterday that it would no longer manufacture its own devices, touching off a flurry of remembrances of a time when BlackBerry was at the top of the game.
Elon Musk yesterday revealed an ambitious scheme to regularly shuttle passengers like you and me to Mars on spaceships powered by reusable boosters and solar panels traveling at upwards of 62,000 mph starting in 2024.
When it comes to fashion with haute couture flair, the mainstream just isn't having it. And so, some 19 months after sweeping into Lands' End headquarters in Dodgeville, Wis. - albeit for only one week a month or so - CEO Federica Marchionni is a free agent on Seventh Avenue.
Arnold Palmer, who won more than 90 major golf championships worldwide in the process of blazing trails in the world of sports marketing and management, died yesterday at 87.
David Hoffmann, who first worked for McDonald's when he was in high school and climbed to its upper echelons after getting an MBA from the University of Chicago as part of its management training program, yesterday was named president of Dunkin' Donuts in the U.S. and Canada.
Although General Mills knows it has a yogurt problem and has been scrambling to catch up with its more nimble competitors, its sales in the category plummeted 15% in June-to-August period, its 2017 fiscal first quarter, the company reported yesterday. It's telling consumers -- and investors -- to hold on, things will get healthier.
Emma Walmsley, a consumer products marketer for L'Oreal before GlaxoSmithKline CEO Andrew Witty convinced her to join the UK-based pharmaceutical giant six years ago, has been named as his successor. Witty, 52, plans to step down March 31. Walmsley, 47, has most recently been in charge of GSK's global consumer healthcare division and, notably, had experience running L'Oreal's business in China.
Looking to soar again after its Hero 4 Session crashed on takeoff last year, GoPro yesterday introduced its first drone, the Karma, and two new cameras, the Hero5 Black and the Hero5 Session, at an elaborately staged event in Squaw Valley, Calif. It also unveiled a cloud-based subscription software service, GoPro Plus, that it claims will simplify capturing, editing and sharing content, "establishing GoPro as an end-to-end storytelling solution."
Salesforce took the wraps off a new product called Einstein yesterday, using a variety of human beings to explain the glories and ramifications of AI for CRM to reporters who are themselves, no doubt, looking over their shoulders at bots that can sift through reams of information, boil it all down to its 700-word essence and turn a clever phrase to grab your attention.