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When Todd Graves looks at resumes, one trend stands out to him: the prevalence of job-hopping. Graves, 52, is the billionaire CEO and co-founder of Raising Cane's Chicken Fingers, a restaurant chain with more than 800 locations across the U.S., its territories and the Middle East. 1 red flag when hiring new corporate employees is a resume that shows frequent job changes every two to three years, he says. "When they're more into title and control versus teamwork, it's a huge red flag for me," says Graves. He says he's noticed a "huge correlation to success" for employees when they care about what happens to their colleagues, team and organization as a whole — rather than focusing solely on their own career growth.
Persons: Todd Graves, Graves, he's Organizations: CNBC Locations: U.S
Sam's Club CTO Cheryl Ainoa is leaving following a return-to-office mandate, a company spokesperson confirmed. The company earlier this year required US corporate employees to work at one of three office hubs. AdvertisementA top Sam's Club executive is leaving their role following parent company Walmart's return-to-office mandate. Last week, Sam's Club CEO Chris Nicholas told BI that in-person work is helping the company innovate more quickly. If you are a Walmart or Sam's Club employee who wants to share your perspective, please contact Dominick via email or text/call/Signal at 646.768.4750.
Persons: Cheryl Ainoa, , Walmart's, Cheryl Ainoa —, Chris Nicholas, Ainoa, Dominick Organizations: Sam's, Walmart, Service, Sam's Club, Business, Bloomberg, Amazon Locations: Bentonville , Arkansas, Walmart's Arkansas, New York, Bay, Bentonville, San Jose
A new leadership structure, which includes the appointment of Pam Kaur as the lender’s first female chief financial officer, would “unleash our full potential and drive success into the future,” CEO Georges Elhedery said in a memo to staff. The overhaul sees Elhedery tackle one of HSBC’s most intractable problems. HSBC (HSBC) did not say what the projected cost savings might be or indicate how many jobs would be affected, but more details could emerge when the bank reports third-quarter results on October 29. Kaur, 60, takes over as CFO having served as HSBC’s chief risk and compliance officer. She joined the bank in April 2013 as group head of internal audit.
Persons: London —, Pam Kaur, Georges Elhedery, Elhedery, , Ben Toms, Kaur, Colin Bell, Stephen Moss Organizations: London — HSBC, HSBC, RBC Capital Markets Locations: Hong Kong, London, United Kingdom, United States, France, Canada, Asia, Europe, East
HSBC on Tuesday named veteran insider Pam Kaur as its first female finance chief and announced a consolidation of the bank into four business units. Kaur is set to assume her post on Jan. 1, according to regulatory filings with the Hong Kong bourse, taking over from interim Chief Financial Officer Jon Bingham. This is the second heavyweight leadership shakeup for HSBC in recent months, after former finance boss Georges Elhedery was named CEO of the group back in July. From January, it will operate through four divisions: Hong Kong, U.K., international wealth and premier banking, and corporate and institutional banking. The bank's new corporate and institutional banking unit will bring together its commercial banking business (outside of Hong Kong and the U.K.), global banking and markets business, and Western markets wholesale banking operations.
Persons: Pam Kaur, Kaur, Jon Bingham, shakeup, Georges Elhedery, Elhedery Organizations: HSBC, Tuesday, Hong, Hong Kong bourse Locations: Hong Kong, U.K
But strategy advisors say it'll need to get more serious about defining its public benefit. Unlike traditional for-profit businesses, which are primarily focused on maximizing shareholder value, public benefit corporations must balance stakeholder interests with those of their employees and customers. Investors can also question why a company isn't progressing on its stated public benefit. It will also need to define its "public benefit" as part of its new corporate charter, he added. So as OpenAI restructures, the pressure is now on the company to clearly articulate its public mission and show that it's serious about it.
Persons: , OpenAI, Axios, Travis Borden, Keene, OpenAI's, Borden, Altman, Ilya Sutskever, Jan Leike, Mira Murati, restructures, Jens Dammann Organizations: Service, Legal, Institute, Cornell Law School, Keene Advisors, University of Texas School of Law, Business Locations: Silicon, Delaware,
New York CNN —CNN, one of the most popular news websites in the world, is starting to ask some of its visitors to pay $3.99 a month for access. The average visitor to CNN’s website, who may only read a few articles a month, will not be prompted to pay at this time. “Only after users consume a certain number of free articles will they be prompted to subscribe,” MacCallum explained. Under previous management, CNN developed a streaming video product called CNN+ in 2022 to create direct-to-consumer relationships with fans of the network. Some content, though, will remain fully accessible without a subscription, including the CNN homepage; breaking news live stories; standalone video pages; and sponsored articles.
Persons: ” Alex MacCallum, , ” MacCallum, Mark Thompson, Thompson, Greg Piechota, ” Piechota, Piechota, Organizations: New, New York CNN, CNN, The New York Times, CNN.com’s, , Warner Bros, Reuters Institute for, Journalism, University of Oxford, International News Media Association, Media Locations: New York, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWays & Means Chair Rep. Smith: There will be a cap on SALT deductionsHouse Ways and Means Committee Chairman Rep. Jason Smith (R-Mo.) joins 'Squawk Box' to discuss the 2025 Trump tax cut expirations, whether the SALT cap will be repealed, what the new corporate tax rate should be, and more.
Persons: Smith, Jason Smith Organizations: Trump
Read previewOpenAI is working to revamp its business structure so that it's no longer controlled by a nonprofit board, according to a new report. This story is available exclusively to Business Insider subscribers. The company has been controlled until now by the nonprofit board — a relic of its original launch as a nonprofit in 2015. The company is seeking to remove a cap on returns for investors, sources told Reuters. "Feels part of the necessary normalization of OpenAI into a regular corporate structure, which paves the way to an IPO."
Persons: , Sam Altman, OpenAI, Altman, Altman hasn't, he's, OpenAI didn't, Ilya Sutskever, Jan Leike, Greg Brockman, Mira Murati, Matt Turck, who's, Ada Organizations: Service, , Business, Reuters, Street, Senate, Busines Locations: OpenAI
Three years ago, JPMorgan Chase became the first bank with a branch in all 48 contiguous states. "We're still at very low single-digit branch share, and we know that in order for us to really optimize our investment in these communities, we need to be at a higher branch share," Roberts said in an interview with CNBC. Wells Fargo and Bank of America closed the highest net number of branches, while JPMorgan was the most active net opener. According to FDIC research collated by KBW, growth in bank branches peaked right before the financial crisis, in 2007. When it comes to prioritizing locations for new branches, Roberts said it's a "balance of art and science."
Persons: JPMorgan Chase, Jamie Dimon, Dimon's, Dimon, Jennifer Roberts, We're, Roberts, Wells, KBW, it's Organizations: JPMorgan, Chase Consumer Banking, CNBC, Midwest, P Global Market Intelligence, Bank of America Locations: Iowa, Minnesota , Nebraska , Missouri , Kansas, Arkansas, U.S, Wells Fargo
Wells Fargo raised its price target on Bank of America, now calling for more than 15% upside. Evercore ISI hiked its price target on the consumer products company to $150 per share from $133. Power has a $90 price target on the cloud software stock, implying shares can rally 44.5% in the next year. Forbes' $425 price target implies the stock can climb 43.1% from Wednesday's ending price. Analyst Mike Mayo raised his price target for the bank stock by $4 to $44, implying a 16.4% upside over Wednesday's close.
Persons: Wells Fargo, Clark, Javier Escalante, Escalante, KMB, — Jesse Pound, Jefferies, Portillo's, Andy Barish, Barish, — Brian Evans, Jason Gursky, Wednesday's, shakeup, Gursky, Alex Harring, Baird, William Power, — Alex Harring, Steven Forbes, Forbes, RH, BofA, Cintas, Heather Balsky, Balsky, Robinhood, Alex Markgraff, Markgraff, TD Cowen, John Blackledge, Grindr, Blackledge, It's, it's, Estee Lauder, Bryan Spillane, Spillane, Estee, Tom Ford, Joseph Greff, Greff, FanDuel, Vikram Gandhi, Gandhi, Wells, Bank of America Wells, Mike Mayo, Mayo, Goliath Organizations: CNBC, Bank of America, HSBC, Allstate, Kimberly, Staples, ISI, Citi, Boeing, Alaska Airlines, Dow Jones, UC, Guggenheim, RH's, FactSet, Estee Lauder Bank of America, JPMorgan, Allstate Allstate Locations: Portillo's, Five9, Estee, New Jersey, Wednesday's
This is especially true for young users who are now entering a new busy time of life known as adulthood. AdvertisementAfter demolishing the competition from 2020 through the first half of 2022, TikTok's DAU growth rate has collapsed. One interesting theory is that TikTok users are growing up and taking on new responsibilities that leave less time to watch videos. If some of TikTok's core users can no longer afford to spend an hour a day on the app, that's not good for business. This is not just meThe Wall Street Journal recently interviewed a few TikTok users in their 20s.
Persons: , TikTok, it's, Brielle, There's, I'd, she'll, Keilah Bruce Organizations: Service, Evercore, YouTube, Facebook, Street Journal, Intelligence, Street Locations: TikTok
OpenAI is reinstating CEO Sam Altman to its board of directors and said it has “full confidence” in his leadership after the conclusion of an outside investigation into the company's turmoil. After months of investigation, it found that Altman's ouster was a “consequence of a breakdown in the relationship and loss of trust” between him and the prior board, OpenAI said in a summary of the findings Friday. The investigation found the prior board acted within its discretion. “The review concluded there was a significant breakdown in trust between the prior board, and Sam and Greg,” Bret Taylor, the board’s chair, told reporters Friday. After it retained the law firm in December, OpenAI said WilmerHale conducted dozens of interviews with the company’s prior board, current executives, advisers and other witnesses.
Persons: Sam Altman, Altman, OpenAI, Sue Desmond, Hellman, Melinda Gates, Nicole Seligman, Fidji Simo, “ I’m, ” Altman, he’s, , Helen Toner, Tasha McCauley, , Greg Brockman, ” OpenAI, Brockman, Greg, ” Bret Taylor, Taylor, Microsoft —, Toner, McCauley, Ilya Sutskever, Sutskever, Ilya, Elon Musk, Larry Summers, Adam D’Angelo, WilmerHale, WilmerHale didn't, Musk, ” Taylor Organizations: Sony, San, OpenAI, Microsoft, Georgetown University, RAND Corporation, Facebook, Elon, U.S ., Associated Press Locations: San Francisco, U.S
U.S. President Joe Biden delivers the State of the Union address in the House Chamber of the U.S. Capitol in Washington, D.C., on March 7, 2024. President Joe Biden laid out plans to further reshape the tax system and promised to lower costs for Americans during his State of the Union address Thursday. "A fair tax code is how we invest in the things that make this country great. Nonetheless, the pitch still serves to fire up Democrats and to underscore what the White House sees as fundamental inequalities in the tax code. The president promised to expand several of his administration's most progressive economic accomplishments, including the new corporate alternative minimum tax.
Persons: Joe Biden, Biden, Donald Trump Organizations: Chamber, U.S, Capitol, Washington , D.C, Republican, White Locations: Washington ,
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle vs. Google: The internal struggle holding back its AIInstead of a comeback, Google's Gemini AI chatbot and image generator have gone viral for all the wrong reasons – producing inaccurate and offensive responses. The missteps have put Google back on the defensive in the AI race. But the bigger question around Gemini's roll out is whether it underscores a painful but new corporate reality for Alphabet and CEO Sundar Pichai. Is Google's culture sabotaging its AI efforts? We discuss both sides after a week where other mega-caps are making strides in AI: Apple's Tim Cook talks AI strategy; Meta reportedly planning to launch Llama 3; Microsoft announces an investment in Mistral; and Nvidia's market cap touches $2 trillion.
Persons: Sundar Pichai, Tim Cook Organizations: Google, Microsoft Locations: Mistral
The enthusiasm for Japan's stocks was reflected on Tuesday when its benchmark index Nikkei 225 climbed to a 34-year high. Will its bull run continue though, and how should investors play this Asian market? Here’s what Wall Street and other pros say, and how to invest — including the stocks to buy. Jeremy Schwartz, global chief investment officer at WisdomTree, told CNBC’s “Squawk Box Asia” on Friday that Japanese stocks are a “catalyst-rich” asset class. How – and what – to invest Global investors may find it more accessible to invest in Japan markets via exchange-traded funds.
Persons: Morgan Stanley, Jesper Koll, Monex, Jeremy Schwartz, CNBC’s, , buybacks, ” Schwartz, Eastspring, Oliver Lee, Morgan Stanley’s, Morningstar, Kao, industrials, CNBC's Ganesh Rao Organizations: Nikkei, Eastspring Investments, , Tokyo Stock Exchange, Ivailo Locations: Japan, China, Tokyo
Aware's analytics tool — the one that monitors employee sentiment and toxicity — doesn't have the ability to flag individual employee names, according to Schumann. Speaking broadly about employee surveillance AI rather than Aware's technology specifically, Williams told CNBC: "A lot of this becomes thought crime." When including other types of content being shared, such as images and videos, Aware's analytics AI analyzes more than 100 million pieces of content every day. "It's always tracking real-time employee sentiment, and it's always tracking real-time toxicity," Schumann said of the analytics tool. Amba Kak, executive director of the AI Now Institute at New York University, worries about using AI to help determine what's considered risky behavior.
Persons: George Orwell, there's, Slack, Jeff Schumann, Schumann, Jutta Williams, Williams, chatbot, he's, Orwell, Rather, Amba Kak, Kak, they're Organizations: Istock, Microsoft, U.S, Walmart, Delta Air Lines, Mobile, Chevron, Starbucks, Nestle, AstraZeneca, CNBC didn't, Delta, CNBC, Humane Intelligence, Goldman Sachs Asset Management, Nationwide, CBS, Meta, New York University, Federal Trade Commission, Justice Department, Opportunity Commission Locations: Columbus , Ohio, Chevron, United States, Slack
These are JPMorgan's top stocks for February
  + stars: | 2024-02-06 | by ( Alex Harring | ) www.cnbc.com   time to read: +3 min
Stocks are coming off a winning month, with the three major indexes finishing January up by more than 1%. CNBC Pro compiled 10 of the stocks on his list, including four new names: Cars.com , Insulet , Intuitive Surgical and Prologis . More than seven out of every 10 analysts rate the stock a buy, according to FactSet. The average price target implies the stock can rally more than 27% in the next 12 months. More than four out of every five analysts rate the stock a buy, with an average price target showing upside of more than 13%.
Persons: Stocks, Cars.com, Mizuho Organizations: JPMorgan, Federal Reserve, Investors, CNBC, Vertex Pharmaceuticals Locations: Dexcom
A Walmart Spark driver in Rogers, Arkansas, has noticed a pattern when it comes to customer tipping. AdvertisementThis as-told-to essay is based on a conversation with a driver in Rogers, Arkansas, who delivers primarily with Walmart Spark. 5260, which is south of town on Pleasant Crossing Boulevard, and Walmart store No. I'm not going to say those people living in the gated community don't deserve to be in that gated community. If you think I should be paid a fair wage and shouldn't rely on tips, don't use services that require me to not have a fair wage and to rely on tips.
Persons: , I've, Rogers, it's, I'm, you've Organizations: Walmart, Service Locations: Rogers , Arkansas, Arkansas, Pleasant Crossing, Rogers, Pleasant
The creator economy startup Jellysmack laid off staffers in the US and France last month, Business Insider has learned. Jellysmack works with creators on distributing their content across platforms like Facebook and Snapchat to earn additional ad revenue, among other initiatives. We have to realign our resources around areas of the business where Jellysmack is seeing the most success. We encourage everyone to support impacted employees by reaching out to your networks to help our colleagues find their next opportunities. Jellysmack Technologies - Led by Robin (interim), this unit will continue to develop self-serve tech solutions that solve the pain points of creators.
Persons: Jellysmack, Snapchat, Michael Philippe, Philippe, Michael Philippe ,, What's, Sean, Axel, , Robin, Michael, Swann Organizations: Business, Facebook, BI, CSE, Works, Our,  Jellysmack, Network Media Locations: France, French
Wall Street is on the verge of confirming a new bull market has begun, and these stocks could be the next big winners. Here's the criteria: Average analysts' forecasts imply at least 15% upside moving forward. Average analysts' forecasts imply more than 15% upside moving forward. Analysts think the stock can climb even higher, with their average forecasts implying nearly 22% upside moving forward. Analysts forecast a further 21% upside moving forward.
Persons: Stocks, Jane Fraser's, Conor Cunningham, Wells Organizations: Nasdaq, CNBC, Financial, Citigroup, Citi, Shipping, FedEx, Analysts, Melius Research, JBL, L3Harris Technologies
US President Joe Biden speaks alongside Ritika Shah, award-winner of the first-ever National Climate Assessment Art x Climate competition, about his administrations actions to combat climate change in the Eisenhower Executive Office Building adjacent to the White House in Washington, DC, November 14, 2023. The highly anticipated first steps for the American Climate Corps, or ACC, were shared exclusively with NBC News on Tuesday, as the administration seeks to launch the first cohort by next summer. After facing setbacks in Congress, the Biden administration has unlocked funding to launch its American Climate Corps, a new federal program that looks to employ thousands of young Americans in the clean energy, conservation and climate resilience sectors. The White House now hopes to use funds for climate-minded programs across multiple agencies to carry out the vision of the American Climate Corps. Five states — California, Colorado, Maine, Michigan and Washington — have already launched climate corps programs, and the federal program will lean on them as implementing partners.
Persons: Joe Biden, Ritika Shah, Franklin, Alexandria Ocasio, Sen, Ed Markey, Biden, Bernie Sanders, Maggie Thomas, Washington —, hasn't, Thomas, Rosemary Enobakhare, Enobakhare Organizations: White, Civilian Conservation Corps, White House, ACC, Rep, Commerce, Agriculture, Labor, Energy, Environmental Protection Agency, AmeriCorps, American Climate Corps, NBC, U.S . Capitol, Washington, Corps, EPA Locations: Washington , DC, Puerto Rico, Alexandria, Cortez, Washington ,, — California, Colorado , Maine , Michigan
watch nowThe National Hockey League's Washington Capitals and the National Basketball Association's Washington Wizards are slated to move to Alexandria, Virginia, as part of a $2 billion entertainment complex effort, the state's Gov. The development, about 8 miles south of Washington, D.C., will house the new global headquarters for Monumental Sports & Entertainment, which owns the Capitals and Wizards, as well as the new home arena for the teams. Glenn Youngkin answers questions following the announcement of a new sports arena for the Washington Wizards NBA basketball team and Washington Capitals NHL hockey team, December 13, 2023 in Alexandria, Virginia. Win Mcnamee | Getty Images News | Getty Images"This is the most visionary sports and entertainment development in the world. Legislators will have to greenlight the creation of the complex in the next Virginia General Assembly session.
Persons: Glenn Youngkin, Win Mcnamee, Youngkin Organizations: Hockey League's Washington Capitals, National Basketball, Washington Wizards, Washington , D.C, Monumental Sports & Entertainment, Capitals, Wizards, Virginia Gov, Washington Wizards NBA, Washington Capitals NHL, Getty, Virginia General Locations: Alexandria , Virginia, Washington ,, Commonwealth, Virginia
There is also some concern about job losses and loss of market access by smaller banks. Changing an organization's behavior is difficult and takes sustained effort, said DirectBooks CEO Rich Kerschner. Interest in automation grew as desks struggled with corporate bond volumes that touched a record $1.78 trillion in 2020. Three years into it, only a small proportion of orders and allocation messages for a new bond were going through DirectBooks. Once in place, hundreds of investors using OMS platforms could send their order messages and receive allocation messages through DirectBooks, said Kerschner.
Persons: Carlo Allegri, Rich Kerschner, Spencer Lee, salespeople, Daniel Botoff, Goldman Sachs, Morgan Stanley, DirectBooks, Chris Sztam, BlackRock's Aladdin, RBC's Botoff, Shankar Ramakrishnan, Anna Driver Organizations: New York Stock, REUTERS, Bloomberg, underwriters, RBC Capital Markets, Bank of America, Barclays, BNP, Citi, Deutsche Bank, JPMorgan, P Global Market Intelligence, Development, Thomson Locations: Manhattan, New York City , New York, U.S, Wells, DirectBooks, Charles
The BlueTriton bottling plant in Poland Spring, Maine, this month. Water Clashes NationwideBlueTriton finds itself pitted against local water boards, environmentalists and other groups across the country. Aquifers Water bottling facility BlueTriton facility Aquifers Water bottling facility BlueTriton facility Aquifers Water bottling facility BlueTriton facility Water bottling facility Aquifers BlueTriton facility Water bottling facility Aquifers BlueTriton facility Water bottling facility Aquifers BlueTriton facility Sources: U.S. Geological Survey; Continental U.S. aquifer map data from GebreEgziabher, Jasechko and Perrone, Nature Communications (2022) Mira Rojanasakul/The New York TimesIn California, BlueTriton has publicly criticized and vowed to fight a cease-and-desist order issued by the state’s water board to stop diverting millions of gallons of water from a spring in San Bernardino County. Poland Spring water was first packaged as a local elixir in the mid-1800s. The original Poland Spring water source.
Persons: BlueTriton, , Elizabeth M, Frazier, haven’t, Christopher Kessler, Bottlers, Ms, Frazier didn’t, Anthony Moffa, Mark Lawrence, Lawrence, Mira Rojanasakul, State Legislature’s, Margaret M, , John Mullaney, Roger Crouse, Cheryl Dieter, Metropoulos, Nestlé, John McGowan, Natalie DiPentino, DiPentino, Poland Spring, BlueTriton’s Organizations: The New York Times, Times, Democratic, Energy, Utilities, Technology, Maine State House, , Industries, University of Maine School of Law ., Democrat, Water, . Geological Survey, Continental, Nature Communications, New York Times, State, Poland, U.S, Geological, Water Science, Industry, Maine Water Utilities Association, United States Geological Survey, Rock Capital Partners, Metropoulos, Moody’s Investors Service Locations: Maine, Poland, Poland Spring , Maine, South Portland, Michigan, Colorado, Augusta, In Colorado, Arkansas, United States, Continental U.S, GebreEgziabher, California, San Bernardino County, In Michigan, Lincoln, Lincoln , Maine, New York, BlueTriton’s Poland, Chaffee County , Colorado
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailADL CEO on new corporate pledge to fight antisemitism: Stand with your Jewish employeesAnti-Defamation League CEO Jonathan Greenblatt joins 'Squawk Box' to discuss the rise in antisemitism this week following the surprise attack on Israel by Hamas, a new workplace pledge calling on leaders of Fortune 500 companies and other corporations to sign and speak out against antisemitism, and more.
Persons: Jonathan Greenblatt Organizations: Defamation, Hamas, Fortune Locations: Israel
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