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☆ Most CMOs Who Leave Their Jobs Move Up, Study Finds
▼ + stars: | 2023-05-02 | by ( Patrick Coffee | ) www.wsj.com time to read: 1 min

The job of chief marketing officer has become more complex, which has opened paths higher on the corporate ladder, says Richard Sanderson, head of Spencer Stuart’s marketing, communications and sales practice in North America. Photo: timothy a. clary/Agence France-Presse/Getty ImagesThe idea that chief marketing officers face more scrutiny and have less job security than those in other C-suite positions is misleading, according to new research from executive search firm Spencer Stuart. The increasing complexity of marketing operations has created new opportunities for CMOs in recent years, with the job more likely to serve as a steppingstone to more senior positions, said Richard Sanderson , leader of the firm’s marketing, communications and sales practice in North America.

☆ American Airlines Pilots Vote to Authorize Potential Strike
▼ + stars: | 2023-05-01 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

American Airlines said it believes an agreement with the union could come together quickly. Photo: daniel slim/Agence France-Presse/Getty ImagesPilots at American Airlines Group Inc. voted overwhelmingly in favor of a measure authorizing union leaders to call for a strike, though the airline said negotiations are still progressing. The vote results announced Monday don’t mean a walk off is imminent or inevitable. Federal law makes it difficult for airline unions to go on strike.

☆ Deere Seeks Satellite Network to Connect Far-Flung Farms
▼ + stars: | 2023-05-01 | by ( Bob Tita | ) www.wsj.com time to read: 1 min

Deere’s technology was on display at CES in Las Vegas earlier this year. Photo: Patrick T. Fallon/Agence France-Presse/Getty ImagesTo raise more crops from the earth, tractor maker Deere & Co. is looking to space. The farm-equipment company wants to use satellites to connect farms in remote areas of Brazil and the U.S. as the company rolls out high-tech machinery and software designed to sow and harvest crops more quickly, and with less manpower.

☆ Islamic State Leader Killed in Intelligence Operation, Turkey’s Erdogan Says
▼ + stars: | 2023-05-01 | by ( Jared Malsin | ) www.wsj.com time to read: 1 min

Turkish President Recep Tayyip Erdogan said the operation that killed Islamic State’s top leader took place on Saturday but gave few other details. Photo: adem altan/Agence France-Presse/Getty ImagesISTANBUL—President Recep Tayyip Erdogan said Islamic State’s top leader died during a Turkish intelligence operation in what would be the extremist group’s third chief to be killed in less than a year and a half. In an interview late Sunday night with state television, Mr. Erdogan said Turkey’s National Intelligence Organization had followed what he called “the so-called leader” of Islamic State, code-named Abu al-Husayn al-Qurayshi, “for a long time.” Mr. Erdogan said the operation took place on Saturday but gave few other details.

☆ Jack Dorsey Criticizes Sale of Twitter to Elon Musk
▼ + stars: | 2023-05-01 | by ( Ginger Adams Otis | Alexa Corse | ) www.wsj.com time to read: 1 min

Twitter co-founder Jack Dorsey had been part of a group of people who were encouraging the Tesla CEO’s takeover of the social-media platform. Photo: marco bello/Agence France-Presse/Getty ImagesElon Musk hasn’t proved himself to be the best leader for Twitter, according to co-founder Jack Dorsey , who said “it all went south” when the company was sold to the billionaire. Mr. Dorsey shared his opinion Friday in a series of posts on Bluesky, a social-media platform some have touted as a possible alternative to Twitter.

☆ Pope Francis Says He Had Severe Pneumonia When Hospitalized in March
▼ + stars: | 2023-05-01 | by ( Francis X. Rocca | ) www.wsj.com time to read: 1 min

Pope Francis waves as he celebrates Mass on Sunday in Budapest. Photo: Attila Kisbenedek/Agence France-Presse/Getty ImagesROME— Pope Francis said on Sunday that he had suffered from a “sudden, strong illness,” which he described as pneumonia, when hospitalized in late March, and acknowledged that aging was slowing him down, but said he still hoped to continue his international travel. The pope, who is 86 years old, was speaking to reporters on his flight back to Rome after a three-day visit to Hungary.

☆ Hollywood Braces for Potential Writers’ Strike Spurred by Shift to Streaming
▼ + stars: | 2023-04-30 | by ( Joe Flint | ) www.wsj.com time to read: 1 min

The Writers Guild has warned that late-night shows such as ABC’s ‘Jimmy Kimmel Live’ would likely go dark without writers. Photo: jim watson/Agence France-Presse/Getty ImagesHollywood is running out of time to script a happy ending. The entertainment industry’s writers and the major networks, streamers and studios are struggling to agree on their next contract. If a deal isn’t reached by the end of Monday, the writers are expected to go on strike for only the second time in four decades.

☆ Elon Musk Expects SpaceX to Spend Around $2 Billion on Starship Rocket This Year
▼ + stars: | 2023-04-30 | by ( Micah Maidenberg | ) www.wsj.com time to read: 1 min

SpaceX’s Starship lifting off on its inaugural test mission earlier this month from its launchpad in southern Texas. Photo: patrick t. fallon/Agence France-Presse/Getty ImagesSpaceX anticipates spending about $2 billion on its Starship rocket program this year and might not need to raise additional outside funding as that work unfolds, according to founder and Chief Executive Elon Musk. Mr. Musk outlined SpaceX’s plans Saturday during an audio chat on Twitter about Starship, the powerful rocket the company launched for the first time earlier this month. The inaugural test mission ended after about four minutes when a flight-termination system on the vehicle destroyed it as the rocket began to tumble.

☆ Big Tech Earnings Spark Hope That Worst Is Over
▼ + stars: | 2023-04-29 | by ( Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

Google eked out an operating profit for its cloud business for the first time this quarter. Photo: robyn beck/Agence France-Presse/Getty ImagesResults from the big tech companies have sparked investors’ hopes that the worst of the postpandemic hangover is fading, but they also show how much growth has slowed. Companies as varied as Amazon .com Inc., Google-parent Alphabet Inc., Meta Platforms Inc. and Intel Corp. signaled to investors in recent days that the brutal slowdown in sales growth that began as people emerged from the pandemic and re-engaged with daily routines was coming to an end.

☆ Biden Calls for Release of Jailed Journalist Evan Gershkovich, Other Detainees
▼ + stars: | 2023-04-29 | by ( John Mccormick | ) www.wsj.com time to read: 1 min

President Biden at the White House Correspondents’ Association dinner in Washington on Saturday. Photo: saul loeb/Agence France-Presse/Getty ImagesPresident Biden and others at an annual Washington dinner called for the release of jailed Wall Street Journal reporter Evan Gershkovich in Russia during a gathering that brought together members of the media and government officials to celebrate press freedom. Mr. Biden met privately with Mr. Gershkovich’s family, who attended the White House Correspondents’ Association dinner as Journal guests, as he arrived for Saturday’s black-tie gala and recognized them in his remarks.

☆ Corporate Technology Under New Scrutiny Amid Recession Fears
▼ + stars: | 2023-04-29 | by ( Isabelle Bousquette | ) www.wsj.com time to read: 1 min

CIOs are adopting a platform approach to IT, cutting costs by identifying applications with similar functions, said Veeam CIO Nate Kurtz. Photo: andrew caballero-reynolds/Agence France-Presse/Getty ImagesCompanies are trimming and streamlining their information technology spending amid worries about a possible recession later this year. U.S. economic growth slipped in the first quarter in the midst of still-high inflation and rising interest rates. U.S. gross domestic product, a measure of the value of all the goods and services produced in the country, rose at an inflation- and seasonally-adjusted 1.1% annual rate from January to March, a significant slowdown from 2.6% growth in the fourth quarter, the Commerce Department said Thursday.

☆ Snapchat Parent’s Quarterly Sales Drop
▼ + stars: | 2023-04-28 | by ( Meghan Bobrowsky | Denny Jacob | ) www.wsj.com time to read: 1 min

Jack Brody, Snap Inc., vice president of product, at the Snap Partner Summit last week. Photo: frederic j. brown/Agence France-Presse/Getty ImagesSnap Inc. suffered its first quarterly sales drop and indicated a revenue rebound would be slow as the social-media company grapples with disruptions in the digital ad market. Snap generated $988.6 million in revenue in the first quarter, a 7% drop from the year-ago figure, the company behind the popular social media app Snapchat said Thursday. The figure was short of what Wall Street expected, according to analysts surveyed by FactSet.

☆ Wage Growth, Inflation Data to Inform Fed Before Rate Decision
▼ + stars: | 2023-04-28 | by ( Gabriel T. Rubin | ) www.wsj.com time to read: 1 min

Job openings for workers have decreased this year but remain historically high Photo: Ed Jones/Agence France-Presse/Getty ImagesA Labor Department report will show whether worker-pay gains continued to slow from last year’s rapid pace, a data point closely watched by Federal Reserve policy makers seeking to tame inflation. Fed officials will also see their preferred gauge of consumer inflation along with details on household income and spending in a separate Commerce Department report. The reports are among the last major releases before the Fed’s monetary policy committee meeting next week.

☆ Mike Pence Testifies Before Jan. 6 Grand Jury Investigating Donald Trump
▼ + stars: | 2023-04-28 | by ( Sadie Gurman | C. Ryan Barber | ) www.wsj.com time to read: +1 min

Special counsel Jack Smith, who is overseeing the investigation into Donald Trump’s efforts to remain in power after the 2020 election, had subpoenaed former Vice President Mike Pence earlier this year. Photo: Allison Joyce/Agence France-Presse/Getty ImagesWASHINGTON—Former Vice President Mike Pence testified Thursday before the grand jury investigating former President Donald Trump’s efforts to remain in power after the 2020 election, according to a person familiar with the matter, a day after a federal appeals court rejected Mr. Trump’s bid to block that testimony on executive privilege grounds. Mr. Pence’s appearance behind closed doors is a significant development for special counsel Jack Smith in his ongoing investigation. The former vice president is a key witness for prosecutors because of his role as president of the Senate certifying the 2020 election results on Jan. 6, 2021. Prosecutors have also sought his testimony about conversations he had with Mr. Trump leading up to that day.

☆ Wage Gains Pick Up as Fed Contemplates Next Rate Decision
▼ + stars: | 2023-04-28 | by ( Gabriel T. Rubin | ) www.wsj.com time to read: 1 min

Construction workers claimed some of the fastest pay increases over the latest quarter. Photo: Ed Jones/Agence France-Presse/Getty ImagesWage growth stayed elevated to start the year and inflation remained high, likely keeping Federal Reserve policy makers on track to raise rates again next week. Employers spent 1.2% more on wages and benefits in the first quarter from the prior three months, a slight uptick from an upwardly revised 1.1% increase in the fourth quarter, the Labor Department said Friday.

☆ Chinese Authorities Question Bain Staff in Shanghai
▼ + stars: | 2023-04-27 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

Bain & Co.’s presence in China includes offices in Shanghai, as well as Beijing and Hong Kong. Photo: hector retamal/Agence France-Presse/Getty ImagesHONG KONG—Authorities visited the Shanghai offices of Bain & Co. and questioned staff, the management-consulting firm said, becoming the latest foreign firm to be targeted in China where authorities have been increasing pressure on selected American and other Western businesses. The Boston-based company said Wednesday U.S. time that it was cooperating with authorities and declined to comment further. Shanghai police didn’t immediately respond to a request for comment on the reason for the visit, previously reported by the Financial Times, which also said police took away computers and phones.

☆ Barclays Profit Lifted by U.S. Credit-Card Business
▼ + stars: | 2023-04-27 | by ( Josh Mitchell | ) www.wsj.com time to read: 1 min

Barclays combines a major investment bank with substantial consumer, credit-card and business-banking operations. Photo: PHOTO: Justin Tallis/Agence France-Presse/Getty ImagesBarclays PLC ’s profit rose robustly in the first quarter despite banking turmoil that roiled both sides of the Atlantic. Profit grew 27% in the first three months of the year from a year earlier, to £1.78 billion, or about $2.22 billion, the British bank said Thursday. Analysts had expected a profit of £1.45 billion, according to a Barclays poll.

☆ Bain’s Staff in Shanghai Questioned as China Targets Foreign Businesses
▼ + stars: | 2023-04-27 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

Bain & Co.’s presence in China includes offices in Shanghai, as well as Beijing and Hong Kong. Photo: hector retamal/Agence France-Presse/Getty ImagesHONG KONG—Chinese authorities questioned Shanghai workers at consulting firm Bain & Co., underlining the mounting uncertainties facing foreign executives and businesses operating in China after a series of detentions and investigations. The Boston-based company said Wednesday U.S. time that it was cooperating with authorities and declined to comment further. Shanghai police didn’t immediately respond to a request for comment on the reason for the visit, earlier reported by the Financial Times, which also said police took away computers and phones.

The fifth of young Chinese without jobs among a highly-educated generation is a record. The number of master's and Ph.D graduates in Beijing exceeds undergraduates for the first time, education authorities said. "However, young people who really pin their hopes on the gods and Buddhas when under pressure are also clearly going astray." "I don't believe I will ever find my ideal job," said the urban planning graduate, who spoke on condition of anonymity to protect her job prospects. "Why, instead of helping private enterprises develop, do you blame 11.58 million graduates for not taking off their scholar gowns?"

☆ Frank’s International Pays $8 Million to Settle Angola Bribery Violations
▼ + stars: | 2023-04-26 | by ( Dylan Tokar | ) www.wsj.com time to read: 1 min

The business Frank’s International was targeting were contracts to provide Angola’s state-owned oil-and-gas company with tubular services and technology used for drilling offshore deep water wells. Photo: fred tanneau/Agence France-Presse/Getty ImagesFrank’s International NV, a Dutch oil services firm, has agreed to pay $8 million to resolve an investigation into alleged bribery violations by the company’s operations in Angola, U.S. regulators said Wednesday. The company, now part of Houston-based Expro Group Holdings NV, paid commissions to a sales agent who employees in the region knew was likely to use the funds to bribe Angolan government officials, according to the U.S. Securities and Exchange Commission.

☆ Microsoft Has Game With or Without Activision
▼ + stars: | 2023-04-26 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Microsoft’s $75 billion deal to buy Activision was rejected by the U.K.’s antitrust watchdog. Photo: pau barrena/Agence France-Presse/Getty ImagesMicrosoft will be just fine without Activision Blizzard , though its cloud gaming ambitions might not be. The U.K.’s Competition and Markets Authority rejected Microsoft’s $75 billion deal to buy Activision on Wednesday morning. The agency, which is the country’s main antitrust watchdog, ruled that the deal would ultimately harm the nascent market for cloud-based videogame services by giving the owner of the Xbox platform control over Activision’s popular game franchises such as “Call of Duty.” In its statement, the CMA said Microsoft “would find it commercially beneficial to make Activision’s games exclusive to its own cloud gaming service,” thus stifling future competition.

☆ Google Is All About Cost Control Now
▼ + stars: | 2023-04-26 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Google parent Alphabet expects capital expenditures to be modestly higher than last year. Photo: Patrick T. Fallon/Agence France-Presse/Getty ImagesGoogle is working hard to do more with less. How it does with a lot less remains to be seen. But the company’s total advertising revenue was still flat year over year. And while Google doesn’t give formal projections, it said on its conference call to discuss its quarterly results that “the outlook remains uncertain.”

☆ Alaska Air Readies for Busy Travel Season—and Volatile Fuel Costs and Weather Disruptions
▼ + stars: | 2023-04-26 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: 1 min

An Alaska Airlines plane at Los Angeles International Airport (LAX). Photo: DANIEL SLIM/Agence France-Presse/Getty ImagesAlaska Air Group Inc. is preparing for a busy travel season this summer, as airlines generally continue to benefit from a healthy appetite for travel after the Covid-19 pandemic rocked the industry. But with uncertainties remaining, including the potential for travel pullback due to fears of a recession, slowed business travel as companies look to cut costs and weather that disrupts flights, Alaska Air Finance Chief Shane Tackett is readying for what may come.

☆ India’s Population Boom Is an Opportunity—and an Economic Threat
▼ + stars: | 2023-04-24 | by ( Megha Mandavia | ) www.wsj.com time to read: 1 min

People waited for a train in Mumbai on April 19. Photo: punit paranjpe/Agence France-Presse/Getty ImagesIndia is set to reach a notable milestone this year—becoming the world’s most populous country. That squarely positions it as an alternative to China: Both as a manufacturer and, perhaps someday, as the world’s largest market. The onus is now on the South Asian giant to fulfill that promise or bear the consequences.

☆ Australia to Reshape Military Amid Growing U.S.-China Rivalry
▼ + stars: | 2023-04-24 | by ( Mike Cherney | ) www.wsj.com time to read: 1 min

Australia’s defense minister said the country’s navy needed enhanced lethality. Photo: roslan rahman/Agence France-Presse/Getty ImagesSYDNEY—A wide-ranging review of Australia’s military found that the key U.S ally needs to quickly overhaul its armed forces and focus more on capabilities such as long-range missiles, amid concerns that rising tensions between the U.S. and China could increase the chance of a conflict in the region. Australian officials said they agreed with the review’s conclusion that the country’s military isn’t fully fit for purpose in the current strategic environment. The defense industry minister, Pat Conroy, said the revamped army will eventually be able to fire weapons that can hit targets some 300 miles away, versus 25 miles now.

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