Starbucks CEO Kevin Johnson is in Philadelphia and expected to meet face-to-face today with two African American men who were handcuffed and arrested at a Starbucks Thursday afternoon while waiting to meet someone. Reportedly, a manager asked them to leave because they had not purchased anything and they asked "why?".
In what is being described as a boardroom coup, Volkswagen named Herbert Diess as its CEO yesterday, abruptly ending the less-than-three-year reign of Matthias Muller, the executive who kept it running following the "Dieselgate" scandal, which the company refers to as "the greatest challenge in its history."
Urging his former colleagues to make the Consumer Financial Control Board into a bipartisan commission like the SEC or FCC, Mick Mulvaney asserted in testimony yesterday that "I have not burned the house down" during his acting stewardship over the past five months. Not that he hasn't lit some matches after sprinkling accelerant on the carpeting.
As the Rev. Jesse Jackson called for an expansion of a boycott of Kroger stores yesterday over charges that it has created food deserts in minority communities, the largest supermarket chain in the country said that it wants to add 11,000 workers to improve customer service and efficiency at its existing operations. About 2,000 of those jobs would be managerial.
Uber yesterday said that it is buying Brooklyn-based Jump, a dockless, GPS-enabled bike-sharing service featuring fiery red, pedal-assisted e-bikes that riders are currently using to tool around San Francisco and Washington, D.C., for $2 a half-hour.
After a couple of weeks of internal leaks and very public speculation after three years of turmoil, Deutsche Bank yesterday canned John Cryan, its embattled British CEO, in favor of Christian Sewing, the co-president of the private and commercial bank who joined it as an apprentice in 1989. His primary challenge among several, as Reuters reports JP Morgan analyst Kian Abouhossein puts it, will be to "quickly come up with a coherent strategy" for Germany's largest lender.
The J.M. Smucker Co. is buying Ainsworth Pet Nutrition, which makes Rachael Ray's Nutrish dog treats, for $1.7 billion in a deal announced Wednesday. At the same time, it confirmed reports that it's looking to unload it carb-heavy, human-targeted baking brands led by Pillsbury.
So, is Amazon really costing "the American Taxpayer" "many billions of dollars" because the U.S. Postal Service loses "$1.50 on average for each package it delivers" for the online retailer, as President Donald Trump would have it in a series of recent tweets?
While proclaiming that it really does not want a trade war, China this morning fired back at President Donald Trump's proposed tariffs on some 1,300 goods with a list of 106 American products - including soybeans, automobiles, aircraft, whiskey and beef - that will see retaliatory tariffs if the U.S. follows through on its plans. The announcement immediately sent U.S. stock futures tumbling, "Bloomberg" reports, as the "protectionist rhetoric between the world's top two economies" escalated.
Spotify takes to the main financial stage this morning as investors will be able to directly buy and sell shares in the Stockholm, Sweden-based company on the New York Stock Exchange. It's the first time for such a performance, and there's bit of jittery anticipation in the air.