(Reuters) – BlackRock Inc Chief Executive Officer Larry Fink has been preparing five key leaders to take his role whenever he decides to step down in the future, the Wall Street Journal reported on Saturday. Though Fink has no imminent plans to retire, he along with President Robert Kapito has been training these candidates for…
(Reuters) – Amazon.com Inc has overhauled its logistics network to reduce how far a package travels, in a push to move goods faster and more profitably, the Wall Street Journal reported on Saturday. The online retailer’s efforts have helped reduce delivery times, transformed inventory management and changed the search results customers see on its flagship…
By Jonathan Stempel (Reuters) – Squishmallows joined Warren Buffett’s business empire two years after Lady Gaga, Kim Kardashian and others helped make the plush stuffed toys a viral sensation on TikTok. For Judd and Laura Zebersky, whose company Jazwares makes the toys, the success of Squishmallows is hardly what they imagined when they met 33…
By Andrea Shalal NIIGATA, Japan (Reuters) -Treasury Secretary Janet Yellen on Saturday called a showdown over raising the U.S. debt ceiling “more difficult” than in the past but said she remained hopeful a solution could be found to avert a first ever U.S. default Yellen told Reuters in an interview on the sidelines of a…
NEW DELHI (Reuters) – Indian billionaire Mukesh Ambani’s streaming platform JioCinema announced premium pricing of $12.22 a year, as it moves away from a free content model to fight Netflix and Disney. The step comes weeks after a content deal with Warner Bros, that will make available popular HBO and Warner titles, such as “Succession”,…
By Dawn Chmielewski and Sheila Dang (Reuters) – Elon Musk has named former NBCUniversal advertising chief Linda Yaccarino as Twitter’s new CEO, as the company tries to reverse a plunge in ad revenue. Yaccarino will take over a social media platform beset with challenges and a heavy debt load, after she spent several years modernizing…
By Christian Kraemer and Leika Kihara NIIGATA, Japan (Reuters) -Finance leaders of the Group of Seven (G7) rich nations warned of heightening global economic uncertainty on Saturday, as they wrapped up a three-day meet overshadowed by a U.S. debt ceiling stalemate and fallout from Russia’s invasion of Ukraine. Their gathering in the Japanese city of…
SHANGHAI (Reuters) – Chinese smartphone maker Oppo said it will shut down its chip design unit, citing uncertainties in the global economy and the smartphone industry. The company, one of China’s best-selling domestic smartphone brands, said it will cease operations of its Zeku unit, which it set up in 2019. Its products include the MariSilicon…
(Reuters) -Finance leaders of the Group of Seven (G7) advanced economies set a year-end deadline for launching a new scheme to diversify global supply chains, and vowed to address regulatory gaps in the banking system, according to a final draft of their communique seen by Reuters. In the draft communique, the G7 central banks said…
By Trevor Hunnicutt WASHINGTON (Reuters) – Leaders of the Group of Seven (G7) countries are set to issue a statement of concern about China’s use of “economic coercion” in its dealings abroad when they gather next week, according to a U.S. official familiar with the discussions. The statement, a likely component of the overall communique…
