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☆ Gatorade enters new categories — even unflavored water — as competition to hydrate consumers ramps up
▼ + stars: | 2024-04-06 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

As Gatorade approaches its 60th birthday, the brand is staying spry, branching out into new categories from unflavored water to energy drink mixes. It accounted for 63.5% of the U.S. sports drink market in 2023, according to Euromonitor International data. Gatorade President Mike Del Pozzo told CNBC that the competition is good for the category overall – and shows his brand's own strength. "There's plenty of loud voices right now, trying to make a name for themselves," said Del Pozzo. And Propel's annual sales are projected to cross $1 billion for the first time this year, Del Pozzo said.

Persons: spry, There's, Jim Watson, Coke, Watson, Ramon Laguarta, influencer Logan, Mike Del Pozzo, Del Pozzo, we're, Rabobank's Watson Organizations: Gatorade, Euromonitor, Cola, Pepsi, Rabobank, Unilever, Nestle Health Science, PepsiCo, Energy, Citi Research, CNBC

☆ Pakistan’s Troubles Are Far From Over - The New York Times
▼ + stars: | 2024-03-28 | by ( Ayesha Siddiqa | ) www.nytimes.com time to read: +2 min

For decades, Pakistan’s military has been the country’s most vital institution. Although it frequently intervened to oust elected governments, many Pakistanis saw this as salvation from the country’s blundering politicians. The army, it was thought, was the only force capable of holding the country together. The military has suffered a catastrophic loss of prestige after the populist former prime minister Imran Khan directly challenged its influence. This month, Pakistani military posts were hit by separate militant attacks in the country’s south and along the border with Afghanistan.

Persons: Imran Khan, Khan, —, Syed Asim Munir, Khan’s, Munir, Narendra Modi Organizations: archrival India, Pakistani Locations: Pakistan, China, Russia, Washington, Afghanistan, Iran, Iranian

NEW DELHI (AP) — India has successfully conducted its first test flight of a domestically developed missile that can carry multiple warheads, Prime Minister Narendra Modi said Monday. The missile is equipped with multiple independently targetable re-entry vehicles, Modi said in a post on X, formerly known as Twitter. India has been developing its medium- and long-range missile systems since the 1990s as its strategic competition with China grows. In 2021, India successfully tested Agni-5, a nuclear-capable intercontinental ballistic missile with a range of 5,000 kilometers (3,125 miles) that is believed to be capable of targeting nearly all of China. Agni missiles are long-range surface-to-surface ballistic missiles.

Persons: Narendra Modi, Modi Organizations: DELHI, —, Twitter, Associated Press Locations: — India, India, China, Pakistan, British

FORMER PRIME MINISTER NAWAZ SHARIF, PAKISTAN MUSLIM LEAGUEBusiness mogul, multi-millionaire and three-time premier, Nawaz Sharif hails from one of the top two families that have dominated Pakistani politics for decades. He also has a personal stake in keeping imprisoned Imran Khan out of the picture. FORMER PRIME MINISTER IMRAN KHAN, PAKISTAN TEHREEK-E-INSAF PARTYA former cricket star turned Islamist politician, Imran Khan triumphed on an anti-corruption, anti-establishment platform in the 2018 election to form a coalition government. FORMER PRIME MINISTER SHEHBAZ SHARIF, PAKISTAN MUSLIM LEAGUEShehbaz Sharif, 72, the younger brother of Nawaz Sharif, succeeded Imran Khan as prime minister in April 2022. He won his first parliamentary seat in 2018 and became foreign minister after Imran Khan was ousted as prime minister.

Persons: it's, NAWAZ SHARIF, Nawaz Sharif, Sharif, Imran Khan, Khan, ASIM MUNIR, Asim Munir, Munir, IMRAN KHAN, Osama bin Laden, ” —, SHEHBAZ SHARIF, BILAWAL BHUTTO, ZARDARI, Pakistan’s, Bilawal Bhutto, Zardari, Benazir Bhutto, Zulfikar Ali Bhutto, Bhutto, Asif Ali Zardari Organizations: —, National Assembly, PAKISTAN MUSLIM LEAGUE Business, Pakistan Muslim League, Supreme, Sharif, GEN, ARMY CHIEF, LEAGUE, International Monetary Fund Locations: ISLAMABAD, — Pakistan, PAKISTAN, United Kingdom, Pakistan, Iran, Tehran, Islamabad, United States, U.S, Washington, LEAGUE Shehbaz Sharif, Punjab, London, Sindh

☆ Ryanair CEO has ‘a lot of confidence’ in Boeing chief David Calhoun
▼ + stars: | 2024-01-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

“I have a lot of confidence both personally and professionally in David Calhoun and in Brian West,” Ryanair’s Michael O’Leary said Monday, referring to Boeing’s CEO and chief financial officer respectively. Calhoun — who was appointed to the top job in January 2020 as Boeing was already struggling with quality and safety issues — will unveil the planemaker’s full-year results Wednesday. Ryanair CEO Michael O'Leary, left, voiced strong support for Boeing CEO David Calhoun Monday. Partly because of this, Ryanair expects full-year profit for the current financial year to be at the lower end of a range of €1.85 billion-€1.95 billion ($2 billion-$2.1 billion) — trimming a November forecast of up to €2.05 billion ($2.2 billion). That would still be up from its previous record of €1.45 billion ($1.6 billion) earned in 2018, before the Covid-19 pandemic.

Persons: ”, David Calhoun, Brian West, Michael O’Leary, “, Calhoun —, Dennis Muilenberg, Calhoun, Michael O'Leary, Scott Kirby, Kirby, Max, ” O’Leary, we’ll, O’Leary, ” — Organizations: London CNN, Boeing, Ryanair, Lauda, United, Max, Alaska Airlines, US Federal Aviation Administration, CNBC, United Airlines, Reuters, Airbus Locations: US, Austrian, Alaska, American, Toulouse, United Kingdom, Kiwi.com, Europe

☆ Barcelona crashes out of the Copa del Rey in extra time, La Liga leader Girona also knocked out
▼ + stars: | 2024-01-25 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +4 min

CNN —Barcelona suffered its second disappointing cup defeat in as many weeks on Wednesday, falling to a 4-2 quarterfinal away loss against Athletic Bilbao in extra time. The 16-year-old set a Copa del Rey record in the process, becoming the youngest player this century to score in the competition. Juan Manuel Serrano Arce/Getty ImagesAn upset for the La Liga leadersThis season’s surprise package in Spanish football has been Girona, which is mounting the unlikeliest of title challenges in only the club’s fourth season of La Liga football. However, the Blanquivermells will not get the chance to do the league and cup double after losing 3-2 to Mallorca on Wednesday. Mallorca, which sits 14 places and over 30 points behind Girona in La Liga, raced into a 3-0 lead at home inside the first half to stun the league leaders.

Persons: Iñaki, Nico Williams, Iñaki Williams, “, Xavi, Ander Gillenea, Gorka Guruzeta volleyed, Yuri Berchiche’s, Robert Lewandowski, Lamine Yamal, Oihan Sancet, Nico, Juan Manuel Serrano Arce, Antonio Raíllo, Cristhian Stuani, Rafa Babot, Sávio Organizations: CNN — Barcelona, Athletic Bilbao, Bilbao, Africa, of Nations, Mozambique, Spanish, archrival Real Madrid, La Liga, UEFA Champions League, Napoli, ”, Athletic, ” Barcelona, Getty, Barça, Copa, Rey, La Liga football, Mallorca, Wednesday, Girona Locations: Ivory Coast, Ghana, Spain, La, ” Barcelona, AFP, Girona

When Iran and Pakistan traded airstrikes this week, both targeting what they said were militant camps, the exchange raised fears that the upheaval sweeping the Middle East was moving into new territory. To Pakistan, which was hit first, it was important to send a clear message that violations of its sovereignty would not be tolerated. Pakistan signaled that it was seeking de-escalation by calling the two nations “brotherly countries” and urging dialogue and cooperation, language that Iran echoed in a statement of its own on Friday. Pakistan’s appeal, analysts said, underlined a plain fact: It could hardly be in a worse position to fight a war. And already at odds with its archrival India, it has seen a souring of its once-friendly relations with the Taliban government in neighboring Afghanistan.

Organizations: archrival Locations: Iran, Pakistan, archrival India, Afghanistan

18 Iowa 26-0 for its third straight Big Ten title game, a third straight playoff berth and likely the top seed in the College Football Playoff. 8 Alabama in the Southeastern Conference title game, Michigan (13-0, No. Deacon Hill was 18 of 32 with 120 yards and the Hawkeyes rushed for 35 yards on 24 carries. The loss snapped a four-game winning streak and marked the second in three years Iowa lost the title game to Michigan by more than 25 points. Michigan: Harbaugh missed six games this season because of suspension and yet Michigan heads into the postseason undefeated for the second straight year.

Persons: Jim Harbaugh, Blake Corum, McCarthy, Corum, ” Corum, Anthony Thomas ’, hasn’t, Harbaugh's, Tony Petitti, It’s, Harbaugh didn’t, ” Harbaugh, “ I’ve, who’s, Deacon Hill, Kirk Ferentz, “, Semaj Morgan, Brian Ferentz, I’ll, ” Ferentz, “ I’m, I’m, James Turner, Iowa's, Jaziun Patterson, Harbaugh, ___ Organizations: INDIANAPOLIS, —, Wolverines, Michigan, College Football, Southeastern Conference, archrival Ohio State, Big, Harbaugh, Michigan Nation, Hawkeyes, Ohio State, Wisconsin, Iowa, Wolverines . Michigan, SEC, Alabama, Texas, Georgia, AP Locations: — Michigan, J.J, Iowa, Georgia, Alabama, Michigan, ” Iowa, ” Michigan

RIO DE JANEIRO (AP) — Lionel Messi's Argentina squad celebrated like they'd won the World Cup again after a dramatic 1-0 win over archrival Brazil on Tuesday. It was Brazil's first home defeat ever in World Cup qualifying, a game that was delayed because of a brawl between fans in the stands. It was also the first time since 2009 that the five-time World Cup winners failed to score in a home game. Political Cartoons View All 1262 ImagesMessi left the pitch in the 78th minute amid a mixture of jeers and applause from Brazil fans. The 2026 World Cup in the United States, Mexico and Canada will include 48 teams, meaning direct entry for the top six teams from South America.

Persons: — Lionel Messi's, they'd, Messi, Nicolás, Fernando Diniz, they're, Ángel di Maria, “, Rodrigo de Paul, kneeled, Cristian Romero, Gabriel Martinelli, Rodrygo, Dibu Martinez, Otamendi, Lionel Scaloni, Endrick, Joelinton, ___ Organizations: RIO DE, archrival Brazil, Maracana, Inter Miami, South, Copa America, Brazil, ”, FIFA Locations: RIO DE JANEIRO, — Lionel Messi's Argentina, Brazil, Barcelona, Argentine, Argentina, Rio de Janeiro, Maracana, Rio, Qatar, ” Argentina, Uruguay, Colombia, Venezuela, Ecuador, Paraguay, Chile, United States, Mexico, Canada, South America, Bolivia, Montevideo, Peru

☆ Music Licensing Giant BMI Sells to Private Equity Firm
▼ + stars: | 2023-11-21 | by ( Ben Sisario | More About Ben Sisario | ) www.nytimes.com time to read: +1 min

BMI, the giant music licensing agency that represents hundreds of thousands of songwriters, including Taylor Swift, Dolly Parton, Kendrick Lamar and Lady Gaga, has agreed to sell itself to New Mountain Capital, a private equity firm, the organization announced on Tuesday. BMI, along with its archrival ASCAP, is one of the major performing rights organizations in the United States. Terms of the deal between BMI and New Mountain were not disclosed. In its announcement, BMI, whose full name is Broadcast Music Inc., said that the sale is subject to approval by its shareholders and “customary” regulatory review, and that it expects the deal to close in the first quarter of 2024. According to the announcement, CapitalG, a fund affiliated with Alphabet, the parent company of Google, is also acquiring a minority stake in BMI.

Persons: Taylor Swift, Dolly Parton, Kendrick Lamar, Lady Gaga Organizations: BMI, archrival ASCAP, Inc, Google Locations: United States

4 Florida State clinched a spot in the ACC Championship game with a 24-7 win over Pittsburgh on Saturday. Travis hit tight end Markeston Douglas for a 22-yard touchdown midway through the third quarter to give Florida State a 10-point lead. Florida State, fourth in the initial College Football Playoff ranking, won its 15th straight game. It did not come easy on a day the Seminoles played without leading receivers Keon Coleman and Johnny Wilson. The most costly miscue came in the third quarter with Florida State leading 10-7.

Persons: — Jordan Travis, Travis, Markeston Douglas, Trey Benson, Keon Coleman, Johnny Wilson, Wilson, Coleman, Douglas, Ja'Khi Douglas, Benson, Mike Norvell's, Christian Veilleux, Notre, Pitt, Ben Sauls, Gavin Bartholomew, Pat Narduzzi's, Pitt didn't, —, Seminoles didn't, Doak Campbell, ___ Organizations: PITTSBURGH, Florida State, ACC, Pittsburgh, Seminoles, Panthers, Pitt, Notre Dame, The Panthers, Florida, archrival Miami, Doak, Syracuse, Yankee, AP Locations: Charlotte, Florida, makeable, Norvell's, Tallahassee, New York City

☆ ‘I’ve always made fun of the rules.’ John Waters has only ever been himself
▼ + stars: | 2023-10-04 | by ( Marie Lodi | ) edition.cnn.com time to read: +10 min

“I could keep all the money,” Waters once told culture website Flavorwire of the screenings. During a press preview for the exhibition, Waters revealed that one item he wished they had procured was Divine’s “cheater” — drag terminology for a prosthetic vulva with fake pubic hair. Whether it’s subverting a four-figure tub of moisturizer or Hollywood, Waters has always been true to himself. “I’ve always made fun of the rules of the world that I live in. That’s how you can have fun, by breaking some of them.”One rule Waters isn’t breaking, however, is his daily writing schedule.

Persons: CNN —, John Waters, Jenny He, Dara Jaffe, Greg Gorman, Waters, Glenn Milstead, Mink, Edith Massey, Cookie Mueller, Mary Vivian Pearce, Lawrence Irvine, Prince, Puke, William S, that’s, ”, Kathleen Turner, “, ” Jaffe, Charles White, ” Waters, Marjorie Taylor Greene, That’s, he’s, —, you've, ” Chris Pizzello, thusfar, Divine, Ricki Lake, Traci Turnblad, Traci, Amber Von Tussle’s, Van Smith, Isabelle Huppert — Waters, “ I’ve, There’s Organizations: CNN, Academy Museum Foundation, Hollywood, Academy Museum of Motion Pictures, NYU, Warner Bros, Burroughs, Academy Museum, Wesleyan University, Charles White / Academy Museum Foundation, New York Times, Maybelline Locations: Los Angeles, American, Lutherville , Maryland, Baltimore, Sleaze, LA, Middletown , Connecticut, Cape Cod, Waters, Hollywood, Seattle

☆ India's BJP, the world's biggest party, plots election drive of epic scale
▼ + stars: | 2023-09-26 | by ( Rupam Jain | ) www.reuters.com time to read: +9 min

[1/5] FILE PHOTO-Partha Chaudhury, 39, a worker of India's ruling Bharatiya Janarta Party (BJP), speaks with Reuters during the party's outreach program in Kolkata, India, May 30, 2023. "We want people to remember that the BJP knocked on their doors much before any opposition party worker did." "The BJP's challenge as the dominant national party is to manage voter fatigue and to sustain the enthusiasm among its cadres after two terms in power," Mehta added. "This time, the world's biggest party has launched the biggest-ever outreach to win the world's biggest elections." The BJP was beaten by a regional opposition party four years ago, even though it had strong support there, winning roughly 600,000 of the total 1.5 million votes cast.

Persons: Partha Chaudhury, India's, Avijit Ghosh, PM Modi, Chaudhury, Narendra Modi, It's, Tamoghna Ghosh, Modi, J.P, Nadda, Nalin Mehta, Mehta, isn't, Moitra, Mallikarjun Kharge, Long, Rupam Jain, Pravin Organizations: Bharatiya Janarta Party, BJP, Reuters, REUTERS, Party, PM, Bharatiya Janata Party, archrival Congress, UPES School of Modern Media, Trinamool, Krishnanagar, Pravin Char, Thomson Locations: Kolkata, India, KOLKATA, West Bengal, New Delhi, Uttarakhand, INDIA, India's, Calcutta

Putting a price on celebrityIn buying a majority stake in the powerhouse Hollywood talent agency Creative Artists Agency, François-Henri Pinault showed that high-ticket M.&A. is a game that more than one French luxury billionaire can play. Acquiring CAA — which represents stars including Tom Hanks, Margot Robbie and Pinault’s wife, Salma Hayek Pinault — underscores Pinault’s ambitions, and reinforces the growing importance of celebrity in the luxury sector. Like his archrival, Bernard Arnault of LVMH, Pinault used a series of acquisitions to assemble the luxury empire now known as Kering, starting with Gucci and later adding Saint Laurent, Bottega Veneta, Alexander McQueen and more. The agency will be run separately from Kering; Bryan Lourd, the superagent who represents Scarlett Johansson and Brad Pitt, will become C.E.O.

Persons: Henri Pinault, Tom Hanks, Margot Robbie, Pinault’s, Salma Hayek Pinault, Bernard Arnault, Pinault, Saint, Bottega, Alexander McQueen, —, Bryan Lourd, Scarlett Johansson, Brad Pitt Organizations: Hollywood, Creative Artists Agency, CAA, Gucci, Puma Locations: Bottega Veneta, Kering

☆ UBS Reports Record-Breaking $29 Billion Profit
▼ + stars: | 2023-08-31 | by ( Michael J. De La Merced | More About Michael J. De La Merced | ) www.nytimes.com time to read: +1 min

When UBS agreed to buy its archrival Credit Suisse for a little over $3 billion this spring at the Swiss government’s behest, analysts and investors said that price represented a steep discount. UBS’s latest financial results reflect just how much of a steal it was. On Thursday, the bank reported a $29 billion profit in its second quarter — yes, billion with a “b” — the biggest quarterly profit in banking history. But that paper gain belies the challenges that UBS faces as it moves to complete the largest takeover of a bank since the 2008 financial crisis. That process will include absorbing some of its onetime competitor’s domestic footprint and shuttering a large portion of its investment banking operations.

Persons: “, It’s Organizations: UBS, Credit Suisse

The magic of “badwill”When UBS agreed to buy its archrival, Credit Suisse, for a little over $3 billion this spring at the Swiss government’s behest, analysts and investors said that price represented a steep discount. UBS’s latest financial results reflect just how much of a steal it was. Today, the bank reported a $29 billion profit — yes, you read that right — for the second quarter, the biggest quarterly profit in banking history. But that paper gain belies the challenges that UBS faces as it moves to complete the largest takeover of a bank since the 2008 financial crisis. (It’s also known as “negative goodwill.”) UBS reported that its underlying profit for the quarter was just $1.1 billion.

Persons: “, It’s Organizations: UBS, Credit Suisse

☆ HBO’s ‘Succession’ Dominates Emmy Nominations in Uncertain Year
▼ + stars: | 2023-07-12 | by ( John Koblin | More About John Koblin | ) www.nytimes.com time to read: +2 min

The moment of triumph for HBO is coming at a time of transition for the network, which since last year has been run by a debt-ridden parent company, Warner Bros. The network is now part of a streaming service that removed its call letters (bye HBO Max, hello Max). HBO had the three most nominated shows: “Succession” (27), “The Last of Us” (24) and “The White Lotus” (23). It was in 1992, when NBC landed nominations for “I’ll Fly Away,” “L.A. Law,” “Law & Order” and “Quantum Leap.” All four series lost to that year’s winner, “Northern Exposure,” from CBS.

Persons: ”, HBO Max, Max, ” Roy, Jeremy Strong, Kieran Culkin, Brian Cox, L.A, Jason Sudeikis, “ Ted Lasso, Jeremy Allen White, Bill Hader, “ Barry, ” Jason Segel, Martin, Quinta Brunson, “ Abbott, ” Brunson, Isabel Sanford, Christina Applegate, ” Rachel Brosnahan, Maisel, ” Natasha Lyonne, Jenna Ortega Organizations: HBO, Warner Bros ., Brothers, Netflix, Warner Bros, NBC, CBS, “ Locations: The

☆ Exclusive: Wagner chief Yevgeny Prigozhin's secret calendar reveals a decade of deep Kremlin ties
▼ + stars: | 2023-07-07 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +8 min

A copy of Prigozhin's calendar obtained by Die Welt and shared with Insider shows just how deeply enmeshed he was with the Putin regime. Putin's name appears in Prigozhin's calendar only twice, and neither entry records a one-on-one meeting. Wagner employees typically identify themselves and sign documents using three or four-digit employee numbers, and most Prigozhin's meetings with Wagner Group employees are presented this way. These rows of data extracted from Yevgeny Prigozhin's private calendar show Wagner Group personnel identified solely by their employee numbers. In the end, his demands for a slot on Putin's calendar went unanswered.

Persons: Putin, Prigozhin, Aleksey Dyumin, Putin's, —, Vladimir Putin, It's, Yevgeny Prigozhin, Wagner — Sergei Surovikin, Ukraine —, Wagner, Dmitry Peskov, Sergei Shoigu, Ruslan Tsalikov, Anton Vaino, Valery Gerasimov, Shoigu, Sergei Surovikin, Matveev, Dmitry Medvedev, Yevgeny Prigozhin's, Walt Hickey, Mattathias Schwartz Organizations: Die Welt, Service, Russian Federation, Wagner Group, Insider, Putin, Politico, Defense, Prigozhin, Anadolu Agency, Getty, CNN, Welt, Kremlin Locations: Tula, Moscow, Ukraine, West, Africa, St . Petersburg, New, Dyumin, Russia, Belarus, Prigozhin, Russian, Rostov, Germany, Korea

Shortly after his plane took off earlier this month from Riyadh, where he had held a lengthy meeting with Saudi Arabia’s crown prince, Secretary of State Antony J. Blinken called a different Middle East leader, Prime Minister Benjamin Netanyahu of Israel. Over 40 minutes, Mr. Blinken gave the Israeli leader a briefing about the significant demands the young crown prince, Mohammed bin Salman, was making for his nation to normalize diplomatic relations with Israel. Mr. Netanyahu had an update on his own demands. The White House, which for more than two years has largely been content to sit out the poker game of Middle East diplomacy, has decided to make a bet and push some of its chips in. And they simply do not much like or trust each other.

Persons: Antony J, Blinken, Benjamin Netanyahu, Mohammed bin Salman, Mr, Netanyahu, — Organizations: Saudi, Israel, Biden, Iran Locations: Riyadh, Israel, Saudi Arabia, East, The United States

☆ Boeing rival Airbus nears record order for 500 planes from India's largest airline, report says
▼ + stars: | 2023-06-04 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

Airbus is near a deal to sell 500 A320 narrow-body planes to IndiGo, Reuters reported. That would make it the largest order ever by volume, topping Air India's 470-plane deal in February. Boeing rival Airbus is near a deal to sell 500 planes from the A320 narrow-body family of jets to India's largest airline, IndiGo, Reuters reported on Sunday. Meanwhile, Airbus and Boeing are also in talks to sell 25 wide-body jets to IndiGo, the report added. That's in contrast with Air India's massive order, which was split between 220 Boeing planes and 250 Airbus planes.

Persons: isn't, IndiGo didn't, Dave Schulte Organizations: Airbus, Reuters, Air, archrival Boeing, Morning, Boeing, IndiGo, Insider, Reuters . Budget, Max, Asia Pacific Locations: IndiGo, Istanbul, India

☆ Sales of metallic boots and sequin dresses are soaring as fans dress up for Taylor Swift's Eras tour
▼ + stars: | 2023-05-29 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Taylor Swift's Eras tour has pushed up demand for metallic boots and sequin dresses, CNN reported. Taylor Swift fans arrive at Gillette Stadium for her concert in Foxborough, Massachusetts. Bipty has compiled a collection of Taylor Swift Eras looks. BiptyAnd online fashion retailer Hazel & Olive have started selling a $129 sequin fringe dress in various colors named for Swift's Eras tour. A pair of women take a selfie while riding on the commuter line to Gillette Stadium in Foxborough, Massachusetts to see Taylor Swift in concert.

☆ VMware employees are increasingly concerned over Broadcom's pending $61 billion acquisition, predicting spinouts of business units, layoffs, and lost customers
▼ + stars: | 2023-05-26 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +14 min

Broadcom and VMware announced the $61 billion deal last year and recently pushed back the deadline as it undergoes regulatory scrutiny. Insider spoke with one former and four current VMware employees about the changes they expect to face once they are owned by the chipmaker Broadcom. A VMware spokesperson said in a statement that after the deal closes, VMware customers will obtain "more choice and flexibility" in managing their IT needs, especially across multiple cloud-computing services. Executives leaving VMwareVMware has lost several key executives since the Broadcom deal was announced (including several defecting to VMware's archrival Nutanix). "Nonetheless, I've continued to see questions in press reports about whether we intend to raise prices on VMware products.

Persons: —, Sanjay Poonen, Patrick Morley, haven't, Robert Ruelas, EUC, Kit Colbert, hasn't, Zane Rowe, Tom Gillis, Mark Lohmeyer, Ajay Patel, Kal, Karen Egan, Tom Kellermann, Raghu Raghuram, Hock Tan, Colbert, Tan, Hock E, Lucas Jackson, I've Organizations: VMware, Employees, Broadcom, SEC, Carbon, Symantec, Workers, Tech, VMware hasn't, VMware Employees, VMware VMware, Nutanix, Raghuram, Reuters

☆ Morgan Stanley CEO James Gorman plans to step down after years of making the bank the envy of Wall Street. Here's a look at his legacy.
▼ + stars: | 2023-05-19 | by ( Rebecca Ungarino | Alex Morrell | Dakin Campbell | ) www.businessinsider.com time to read: +11 min

Morgan Stanley CEO James Gorman said he will step down in the next 12 months. Morgan Stanley CEO James Gorman was giddy. Seeking stabilityTo understand where Morgan Stanley is now, you need to return to the peak of the financial crisis. It didn't take long before Morgan Stanley began utilizing its new license to acquire clients' deposits, reducing its reliance on wholesale funding. Mack, who helped design the 1997 Morgan Stanley and Dean Witter merger, had been pushed out by Purcell in 2001.

☆ Nike's typical shopper is a white, GenX male making over $80,000 and dropping about $90 per shopping trip
▼ + stars: | 2023-05-04 | by ( Danni Santana | ) www.businessinsider.com time to read: +2 min

Nike is the largest sportswear company in the world, and currently employs over 79,000 people. Analytics firm Numerator found that the typical Nike customer is a Gen X Caucasian person earning over $80,000 annually. Footwear sales made up $29.1 billion, or more than half, of the company's total revenue last year. Nike finished its fiscal 2022 year with 344 company stores, including 209 factory stores and 87 Converse stores. In its latest annual report, Nike said footwear revenues grew 9%, driven by both Jordan Brand and men's sales last year.

☆ Final Days at Credit Suisse Were Marked by a $69 Billion Race for the Exits
▼ + stars: | 2023-04-24 | by ( Michael J. De La Merced | ) www.nytimes.com time to read: +1 min

Credit Suisse said on Monday that clients had withdrawn nearly $69 billion in the first quarter, underscoring the spiraling troubles the embattled Swiss bank faced that forced a fire sale to its archrival, UBS, in March. In its final financial report as an independent company, Credit Suisse — which lost 1.3 billion Swiss francs, or $1.46 billion, in the first three months of the year — said that it had suffered “significant net asset outflows,” particularly in the second half of March. Those came as investors feared for the health of the troubled 167-year-old lender, sending its stock plunging and forcing the bank to borrow billions from the Swiss central bank to shore up confidence in its finances. Shareholders had been on edge about Credit Suisse for months, worried about its viability amid losses and a series of scandals and financial missteps. But the Swiss government ultimately forced the firm to sell itself to UBS for $3.2 billion.

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