Panera Bread’s parent company announced Tuesday that CEO Jose Dueñas is stepping down, effective immediately. The change in leadership is the latest challenge to the company’s plans to go public eventually, following several years of hurdles. Panera Brands CFO Paul Carbone will step in as interim chief executive while the board searches for a permanent replacement to lead the company, which ...
D-Wave Quantum CEO Alan Baratz said Nvidia’s Jensen Huang is “dead wrong” about quantum computing after comments from the head of the chip giant spooked Wall Street on Wednesday. Huang was asked on Tuesday about Nvidia’s strategy for quantum computing. He said Nvidia could make conventional chips that are needed alongside quantum computing chips, but that those computers would need 1 million times ...
The chief executive of U.S. Steel appealed directly to President-elect Donald Trump to take a second look at a Japanese company’s $15 billion deal to buy the American steelmaker. President Joe Biden blocked the deal between U.S. Steel and Nippon Steel on Friday, citing national security concerns after a key business-review panel failed to reach a consensus on whether the ...
Four years after launching a push for more diversity in its ranks, McDonald’s is ending some of its diversity practices, citing a U.S. Supreme Court decision that outlawed affirmative action in college admissions. McDonald’s is the latest big company to shift its tactics in the wake of the 2023 ruling and a conservative backlash against diversity, equity and inclusion programs. Walmart, John Deere, Harley-Davidson ...
Former New York Giants quarterback Eli Manning would consider becoming a minority owner of his old team if the Mara family is willing to sell him a stake. “It’s definitely something of interest,” said Manning, who spoke in a CNBC Sport interview. “There’s probably only one team I’d be interested in pursuing, and it’s the one I played for for ...
Sierra Space CEO Tom Vice has left the company, CNBC confirmed Monday. In a statement, Sierra Space said Vice retired Dec. 31. Chairman Fatih Ozmen will serve as interim CEO, with Eren Ozmen as president. “After three and half years in the role, Tom Vice has retired as Sierra Space CEO as of the end of 2024 — we thank him for his leadership ...
U.S. Steel and the Japanese firm that had sought to acquire it are suing the Biden administration after the president announced he was blocking a proposed deal for the iconic American manufacturer. U.S. Steel and Japan’s Nippon Steel said in a release Monday that President Joe Biden ‘ignored the rule of law’ to gain favor with United Steelworkers, the union ...
Federal Trade Commission Chair Lina Khan said Tuesday she hopes the incoming Trump administration will not let Amazon and Facebook parent Meta off the hook from pending antitrust lawsuits by her agency with a “sweetheart deal.” But, “I can’t predict what future people in my position are going to do,” Khan said on CNBC’s “Squawk Box.” Khan’s comments come as Amazon chairman Jeff Bezos and Meta CEO Mark Zuckerberg have ...
Many small businesses are breathing a bit easier as inflation has cooled and the race for workers slows. But consumers’ steady embrace of credit cards is taking a growing bite out of their margins. Gene-Christian Baca, the owner of Walter’s Hot Dogs in Mamaroneck and White Plains, New York, estimated that he now pays $50,000 a year in costs associated ...
President Joe Biden said Friday that he has decided to block a $15 billion takeover of U.S. Steel by the Japanese company Nippon Steel, capping off a yearlong business saga that drifted into election politics. A national security review by a Treasury Department committee failed to reach a consensus on the deal last month and deferred the final decision to the president. ...