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☆ Robert Kraft wants Tom Brady to retire with the Patriots
▼ + stars: | 2023-02-02 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

Tom Brady #12 of the New England Patriots celebrates with team owner Robert Kraft after defeating the Seattle Seahawks 28-24 during Super Bowl XLIX at University of Phoenix Stadium on February 1, 2015 in Glendale, Arizona. New England Patriots owner Robert Kraft wants Tom Brady to re-sign with the team for one day so that he can officially end his legendary career with the franchise that drafted him 23 years ago. The seven-time Super Bowl champion is going out after the first losing season in his record-breaking career. The 45-year-old Brady started his NFL career in 2000 as a sixth-round draft pick with the Patriots. He ended up leading them to six Super Bowl titles while playing for them until 2019.

☆ Kohl's names interim CEO Tom Kingsbury to the post permanently
▼ + stars: | 2023-02-02 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

The Kohl's logo is displayed on the exterior of a Kohl's store on January 24, 2022 in San Rafael, California. Kohl's on Thursday named interim CEO Tom Kingsbury to the post on a permanent basis. He took over as interim CEO in December after former chief executive Michelle Gass decided to leave for Levi Strauss. "The Board appreciates our constructive dialogue with Macellum during the last few months and their engagement as we conducted the CEO search process. We look forward to their continued support and partnership," said Michael Bender, a board director at Kohl's.

☆ Tom Brady announces retirement from the NFL, swears it's 'for good' this time
▼ + stars: | 2023-02-01 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

He finishes with numerous NFL records and seven Super Bowl titles with the New England Patriots and the Tampa Bay Buccaneers. Brady returned to the field less than two months after making that announcement to play for the Tampa Bay Buccaneers, marking his 23rd season. Pledging that his retirement is "for good" this time, Brady ends a 23-season career with seven Super Bowl wins under his belt. Brady played for the New England Patriots from 2000 to 2019 and joined the Tampa Bay Buccaneers in 2020. Outside the NFL, Brady has faced other losses mainly pertaining to his investments with the bankrupt cryptocurrency exchange FTX.

☆ FedEx is laying off 10% of its officers and directors amid cooling demand
▼ + stars: | 2023-02-01 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Raj Subramaniam, FedEx Corporation, speaks at the U.S. Chamber of Commerce Aviation Summit in Washington, D.C. on March 5, 2020. FedEx is cutting more than 10% of its officers and directors, CEO Raj Subramaniam announced Wednesday, as the company slashes corporate jobs to cut costs amid cooling consumer demand. During its second-quarter earnings call with analysts, Subramaniam outlined what he called an "aggressive and decisive plan to cut costs in fiscal 2023." The shipping company on Tuesday posted a revenue decline in its fourth quarter, as shipping volumes continue to dip. To counteract slowing consumer demand, UPS also raised its shipping prices by 6.9% at the end of last year.

☆ UPS revenue falls short of expectations despite growth in U.S. business
▼ + stars: | 2023-01-31 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Total revenue: $27.03 billion vs $28.09 billion. It is projecting revenue between $97 billion and $99.4 billion, versus analyst's estimates of $99.98 billion. In the fourth quarter, revenue for UPS's domestic segment, which makes up about two-thirds of the company's revenue and most of its business-to-consumer transactions, grew 3%. Last quarter, UPS also announced it would cut $500 million in capital expenditures by, for example, leasing rather than buying certain locations. The shipping company's shares fell over 10% in 2022 as consumer spending adjusted to inflation and came down from pandemic highs.

Santa Fe prosecutors on Tuesday filed charges of two counts of involuntary manslaughter against Alec Baldwin for the fatal shooting on the set of the movie "Rust." Hannah Gutierrez-Reed, the armorer of the film, was also charged with the same two counts of involuntary manslaughter. Due to Baldwin's distractions, the training he received was estimated to be 30 minutes, according to the DA's statement. According to the probable cause statement, Baldwin has "asserted publicly that he is an '...expert...' in the realm of firearms and filmmaking." "Reed knew Baldwin required more training," which "could have prevented the fatal shooting," prosecutors said, citing a statement Gutierrez-Reed issued in her deposition.

☆ Washington D.C.'s free bus bill becomes law as zero-fare transit systems take off
▼ + stars: | 2023-01-30 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

A bus is seen in Washington, DC, on December 12, 2022. - The Washington government voted to institute free bus rides for all starting in the summer of 2023. Washington, D.C., has enacted a zero-fare bus bill into law, according to the D.C. Council. Kansas City, Missouri, previously the largest city with such a law, made its own transit system zero-fare in 2019, though that city doesn't have a train system. The council officially announced the mayor's decision on Monday.

Employees of American Airlines help check in passengers at Ronald Reagan Washington National Airport on January 11, 2023 in Arlington, Virginia. American Airlines ' fourth-quarter profit beat analysts' expectations as strong travel demand and high fares buoyed results during a turbulent holiday season. Quarterly revenue of $13.19 billion was up 16.6% from the same period in 2019, before the pandemic stymied travel. American earlier this month raised its revenue and profit estimates for its fourth quarter. Airline executives at Delta and United were similarly upbeat about 2023 bookings despite concerns about layoffs at major U.S. companies and economic weakness.

☆ AT&T shares jump as subscriber growth tops analyst expectations
▼ + stars: | 2023-01-25 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

AT&T shares jumped on Wednesday after the carrier reported fourth-quarter subscriber growth that exceeded Wall Street's estimates, shrugging off its rivals' lower pricing strategies. The U.S. phone service provider added 217 million total subscribers across all of its divisions for the fourth quarter, beating StreetAccount estimates of 215 million. New phone subscribers specifically, however, missed analyst expectations, coming in at 656,000 net adds, versus an estimate of 678,400, according to StreetAccount. The company reported a phone churn rate of 0.84%, a slight improvement from a churn rate of 0.85% during last year's fourth quarter. It added 217,000 phone subscribers, up from 8,000 in its third quarter but trailing behind AT&T's subscriber growth.

☆ M&Ms says it's pulling its beloved 'spokescandies' after right-wing outrage over shoes, gender
▼ + stars: | 2023-01-23 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Candy maker Mars said Monday it is replacing its M&Ms "spokescandies" with actress Maya Rudolph after facing right-wing criticism over its mascot makeover. The spokescandies are a team of cartoon M&Ms mascots that have represented the brand in commercials and other marketing materials since 1960. Early last year, the candy brand updated the cartoons and its marketing, rebranding each mascot with a new backstory, clothing and personality to be more inclusive. "Orange" became a mascot riddled with anxiety, and the company added a new purple M&M, which was designed to represent inclusivity. And we definitely didn't think it would break the internet," M&Ms said in a statement Monday on Twitter.

☆ Netflix founder Reed Hastings is giving up CEO role
▼ + stars: | 2023-01-19 | by ( Rebecca Picciotto | ) www.nbcnews.com time to read: +1 min

Netflix’s Reed Hastings is giving up his CEO role but will remain on as chairman, the company announced along side its earnings report Thursday. Greg Peters, most recently Chief Operating Officer, will assume the post of co-CEO in Hastings’ place. Sarandos was promoted to co-CEO alongside Hastings in July 2020, the same time that Peters was appointed to his COO role. The succession announcement comes alongside the company’s fourth-quarter earnings report. The succession announcement comes alongside the company’s fourth-quarter earnings report.

☆ Alec Baldwin to be charged with involuntary manslaughter in 'Rust' movie set shooting
▼ + stars: | 2023-01-19 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Hilaria Baldwin and Alec Baldwin speak for the first time regarding the accidental shooting that killed cinematographer Halyna Hutchins, and wounded director Joel Souza on the set of the film "Rust", on October 30, 2021 in Manchester, Vermont. Alec Baldwin will be criminally charged by New Mexico prosecutors for the 2021 fatal shooting of cinematographer Halyna Hutchins on the set of the film "Rust," authorities said Thursday. Baldwin, the Emmy-winning star of "30 Rock" and dozens of films including "The Hunt for Red October," shot the bullet that killed Hutchins. Joel Souza, the movie's director who was 48 at the time, was injured by the bullet but later recovered. Months later in Dec. 2021, Baldwin said he "didn't pull the trigger" in an ABC interview.

☆ Procter & Gamble revenue and profit fall as company looks to higher prices to offset declining sales
▼ + stars: | 2023-01-19 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Procter & Gamble reported year-over-year declines in revenue and profit on Thursday, as higher prices struggled to offset declining sales volumes. All of the company's divisions reported declining sales volume in the quarter, despite seeing increases in organic sales as a result of higher pricing. P&G executives noted in a call with media that consumer demand is responsible for at least half the 6% sales volume decrease. But it warned those headwinds would continue to squeeze P&G's gross margins, which saw a 160-basis-point decrease during the second quarter versus a year ago. P&G is doubling down on its price hiking strategy even as shrinking consumer demand continues to erode sales volume.

☆ Netflix founder Reed Hastings is giving up his CEO role
▼ + stars: | 2023-01-19 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Netflix co-founder and CEO, Reed Hastings, is in Sydney to meet with executives of other subscription streaming services, February 25, 2022. Netflix founder Reed Hastings is giving up his CEO role but will remain on as chairman, the company announced alongside its earnings report Thursday. Hastings co-founded Netflix in 1997. Sarandos was promoted to co-CEO alongside Hastings in July 2020, the same time that Peters was appointed to his COO role. Scott Stuber, who was previously the head of global film, will step in as chairman of Netflix Film.

☆ Peloton hires former Twitter executive as new head of marketing
▼ + stars: | 2023-01-17 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Peloton is bringing in Leslie Berland, Twitter's former marketing head, as its next chief marketing officer, effective Wednesday. Berland left Twitter in November amid a slew of executive departures after Elon Musk's takeover, which has led to significant restructuring and revenue drops at the social media giant. Berland will report to Peloton CEO Barry McCarthy and oversee several of the fitness equipment maker's divisions including marketing, membership and global communications. Peloton is trying to shift the tides after a rough 2022, when its stock dropped more than 75%. [Berland] and the marketing team will play a central role in broadening our reach, appeal, and impact," McCarthy said in a statement Tuesday.

☆ United results top estimates as demand remains resilient despite high fares
▼ + stars: | 2023-01-17 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

A grounds crew member directs an United Airlines airplane to a gate at Terminal A at Newark Liberty International Airport (EWR) in Newark, New Jersey, US, on Thursday, Jan. 12, 2023. United Airlines ' fourth-quarter profit and outlook for early 2023 topped Wall Street estimates thanks to strong travel demand and high fares. Meanwhile, aircraft delivery delays and training backlogs have constrained airlines' growth, keeping fares high. United reported an $843 million profit for the last three months of 2022, a 31% increase compared with three years earlier, on revenue of $12.4 billion. Also last week, American Airlines , which reports on Jan. 26, hiked its profit and sales forecast for the fourth quarter.

☆ The zero-fare public transit movement is picking up momentum
▼ + stars: | 2023-01-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +7 min

In late 2019, Kansas City, Missouri, became the first major U.S. city to approve a fare-free public transit system. The public transit crisisKansas City's bus system, called RideKC. Alexandria and Richmond in Virginia have successfully integrated fare-free transit into their annual budgets. Source: Kansas City Area Transportation AuthorityIn Kansas City, zero-fare transit has become a hallmark of life. The zero-fare bus started in December 2019 as a pilot program.

☆ Key Senate Democrats push Southwest CEO for answers on holiday meltdown
▼ + stars: | 2023-01-13 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Southwest Airlines Executive Vice President Bob Jordan speaks as he is interviewed by CNBC outside the New York Stock Exchange (NYSE) in New York City, U.S., December 9, 2021. The questions push for details about the causes of the meltdown, including Southwest's outdated software and staffing failures. The mass cancellations came alongside an intense snowstorm and elevated holiday travel demand, which posed a challenge to many airlines. The senators' letter also highlights Southwest's use of funds, claiming it neglected to update company-wide systems that have long been out of date. "Southwest has long known that its software was outdated, and the Southwest Airlines Pilots Association had warned that such a debacle was inevitable unless Southwest invested in new scheduling systems," the letter says.

☆ Netflix will air SAG Awards in another step into live broadcasting
▼ + stars: | 2023-01-11 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Netflix will exclusively air this year's Screen Actors Guild Awards show in its first partnership with an awards show and its next step into live broadcasting. The SAG Awards, which will take place Feb. 26, will air live on Netflix's YouTube channel, but not the streamer's own platform. Netflix aims to broadcast the awards show on its actual service in 2024, according to a company spokesperson. Since 2007, the SAG Awards has aired on both TNT and TBS, channels owned by Warner Bros. Discovery parted ways with the SAG Awards in May as the newly merged company restructured.

A shopping cart sits in the parking lot at a Babies "R" Us store on January 24, 2018 in Chicago, Illinois. Babies R Us is trying to make a comeback. WHP Global, a brand management firm, owns the retailer's parent company, Tru Kids. "Our plan to open Babies R Us at American Dream in the coming months is a huge milestone in the return of Babies R Us to the U.S.A., and it sets the stage for a national rollout of Babies R Us in the future," Shmidman said. American Dream, which has had its own struggles, is located near MetLife Stadium, about 10 miles outside New York City.

Former McDonald's CEO Stephen Easterbrook unveiling the company's new corporate headquarters during a grand opening ceremony on June 4, 2018, in ChicagoThe Securities and Exchange Commission charged former McDonald's CEO Steve Easterbrook on Monday with misrepresenting his November 2019 firing. McDonald's board fired Easterbrook in 2019 for a consensual relationship with an employee, which violated the company's fraternization policy. In December 2021, the two parties settled the lawsuit, and McDonald's successfully clawed back Easterbrook's severance, valued at $105 million. McDonald's has not admitted or denied the SEC's findings. In a statement, the company said that the SEC's actions reinforce what it has previously said about its handling of Easterbrook's misconduct.

☆ WWE confirms Vince McMahon is rejoining the board, stock spikes
▼ + stars: | 2023-01-06 | by ( Rebecca Picciotto | ) www.nbcnews.com time to read: +2 min

World Wrestling Entertainment confirmed on Friday that former CEO and majority shareholder Vince McMahon will be reinstated to the company’s board. “Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” WWE executives said in a Friday press release. He also said he would bring back former co-presidents Michelle Wilson and George Barrios as board directors. Three current board members, JoEllen Lyons Dillon, Jeffrey Speed and Alan M. Wexler, were removed from their positions. Even during his leave, McMahon maintained control over the company as a majority shareholder.

☆ Roku CEO explains why the company is launching its own line of TVs
▼ + stars: | 2023-01-05 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Roku is counting on its growing consumer base beyond 70 million customers as it launches its own line of televisions, CEO Anthony Wood told CNBC on Thursday. The streaming company unveiled its new line of televisions, Roku Select and Roku Plus Series, Wednesday during the Consumer Electronics Show. "Roku streaming hours were 87 billion hours of streaming last year" said Wood. All TV is going to be streamed, that means all TV advertising is going to be streamed." Shares of Roku are up more than 4% in the early going of 2023, closing at $42.76 on Thursday.

☆ WWE shares jump as Vince McMahon stages comeback
▼ + stars: | 2023-01-05 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Vince McMahon is staging a comeback at World Wrestling Entertainment , months after he retired from the company over a sexual misconduct scandal. McMahon said that his return is necessary as the company gears up for negotiations over media rights and strategic alternatives. WWE, which styles itself as a media company, has been mentioned as a potential acquisition target. McMahon retired last year amid an investigation into payments the former CEO made regarding alleged instances of sexual misconduct. A special committee probe found that McMahon had paid nearly $15 million to four women over the course of 16 years in order to silence sexual misconduct allegations.

☆ Stellantis beefs up commitment to electric flying vehicle company Archer Aviation
▼ + stars: | 2023-01-04 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

The Chrysler maker is doubling down on its commitment to help Archer Aviation produce its first batch of electric flying vehicles by 2025, announced Stellantis CEO Carlos Tavares and Archer CEO Adam Goldstein in an interview on CNBC's Tech Check. Fiat Chrysler, Stellantis' predecessor, initially partnered with Archer in 2021 to get the startup's flying vehicles off the ground, providing access to a streamlined supply chain, engineering and material resources. Wednesday's announcement deepens Stellantis' investment in the potentially trillion dollar electric vertical takeoff and landing, or eVTOL, market. Archer expects that its electric flying cars will be available for commercial use by 2025, granted it receives proper certification from the Federal Aviation Administration. Stellantis, which was created by the merger of Fiat Chrysler and PSA Groupe, has already spent billions developing electric vehicles through brands like Jeep, Ram, Dodge and Chrysler.

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