Boeing CEO, other executives stepping down amid safety crisis

Three senior Boeing executives including its CEO are stepping down, the company said Monday, as the company continues to deal with an ongoing scandal and federal investigation into the safety of its passenger jets. CEO Dave Calhoun confirmed he was leaving the company by the end of the year in a statement. Stan Deal, the […]

Former Disney CEO Bob Chapek breaks silence, says there’s no strategic need for ESPN partners

In his first public comments since Disney fired him as CEO in November 2022, Bob Chapek told CNBC he sees no reason for Disney-owned ESPN to add minority partners. “Strategically, I don’t really see a benefit in bringing on yet another minority partner into ESPN,” Chapek said as part of the CNBC documentary “ESPN’s Fight for Dominance,” […]

How ESPN executives plan to survive the decline of cable TV

Disney’s ESPN is at a crossroads. For more than 40 years, the world’s largest all-sports network has grown annual revenue by increasing cable subscription fees. ESPN first charged pay-TV distributors less than $1 per month per subscriber in the 1980s. In 2023, ESPN’s monthly carriage fee was $9.42 per subscriber, according to data from S&P […]

Reddit pops 48% in NYSE debut after selling shares at top of range

Reddit shares jumped 48% in their debut on Thursday in the first initial public offering for a major social media company since Pinterest hit the market in 2019. The 19-year-old website that hosts millions of online forums priced its IPO on Wednesday at $34 a share, the top of the expected range. Reddit and selling shareholders raised about $750 […]

WeightWatchers CEO apologizes to body positivity influencer after Oprah special on weight loss drugs

The CEO of WW, the weight loss company also known as WeightWatchers, apologized to a body positivity advocate for the company’s role in contributing to ‘toxic’ diet culture in the past. On Wednesday, WW CEO Sima Sistani posted an Instagram story video directly addressing influencer Katie Sturino, author of “Body Talk: How to Embrace Your […]

Target doubles bonuses for salaried employees as profits surge

Target is ratcheting up bonuses for salaried employees, including leaders in stores and across supply chains, thanks to a surge in profits. The move comes thanks to $2 billion in additional profit growth for 2023, a company spokesperson said in a statement Thursday. Target’s stock surged in November after having fallen for much of 2023 […]

Why a small China-made EV has global auto execs and politicians on edge

LIVONIA, Mich. — A small electric vehicle is having a big impact on the global automotive industry. It’s not the EV itself that’s making waves but its price — and its potential to disrupt domestic auto industries around the world. The China-built BYD Seagull, a small all-electric hatchback, starts at just 69,800 yuan (or less than $10,000), […]