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☆ The US Air Force's newest stealth bomber offers hope amid America's shrinking bomber fleet
▼ + stars: | 2024-05-24 | by ( Mackenzie Eaglen | ) www.businessinsider.com time to read: +7 min

Read previewThe loss of a B-2 Spirit bomber due to fire and its subsequent retirement highlights the fragility of the US Air Force's bomber fleet. A US Air Force airman poses in front of a B-2 Spirit at Whiteman Air Force Base Missouri. Pictures From History/Universal Images Group via Getty ImagesThe B-21 Raider bomber is criticalThere is a silver lining to America's bomber fleet decline in the B-21 Raider. US Air Force photoWashington must recognize the strategic failure of a small and antiquated bomber fleet. Facilitating the on-time deployment of the next generation bomber cannot come too soon in order to restore the size and strength of America's bomber fleet.

Persons: —, Sheila deVera, Sadie Colbert, Austin McIntosh, America's Organizations: Service, US Air Force's, Raider, Business, Joint Base Elmendorf, Richardson , Alaska . US Air Force, Pentagon, Air Force's, US Air Force, Whiteman Air Force Base Missouri, Staff, Air Force, Air, Ship Missiles, Ellsworth Air Force Base, Senior, US Air Force Boeing, Getty, White, Congress Locations: Richardson , Alaska, United States, South Dakota, Vietnam, Palmdale , California

☆ Elliott takes $1 billion stake in Anglo American as miner faces takeover interest
▼ + stars: | 2024-04-26 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Elliott Management has built a roughly $1 billion stake in miner Anglo American in recent months, a person familiar with the matter told CNBC. Anglo American shares were up 5% on the news Thursday. News of the activist's position comes as the $43 billion, London-based miner faces takeover interest from BHP, a mining giant with worldwide operations. Anglo rejected BHP's $39 billion takeover offer Friday morning, saying BHP's offer "significantly undervalues Anglo American and its future prospects." Anglo American declined to comment.

Persons: Elliott, Stuart Chambers, BHP, CNBC's Karen Gilchrist Organizations: Elliott Management, CNBC, BHP, Bloomberg Locations: London, Australia

☆ The FTC says Jeff Bezos and Amazon execs used Signal to talk business — and it wants to know more
▼ + stars: | 2024-04-26 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Amazon execs used messaging app Signal to discuss business matters, the Federal Trade Commission said. The agency wants to know if execs told Amazon staff to delete messages, and when to use Signal. AdvertisementAmazon's top executives used the encrypted messaging app Signal to discuss "sensitive business matters," the Federal Trade Commission said in a court filing on Thursday. The founder said, "Are you on signal messaging app? "Amazon also recognizes that sellers believe 'that it has become more difficult over time to be profitable on Amazon,'" the FTC filing stated.

Persons: execs, —, Jeff Bezos, Andy Jassy, David Zapolsky, Jeff Wilke, Dave Clark, Tim Doyle, Mike Hopkins, Carlo Bertucci, Amazon's, Zapolsky Organizations: Federal Trade Commission, Amazon, Service, FTC, Amazon MGM Studios

☆ Amazon names logistics head as new AWS CFO
▼ + stars: | 2024-01-18 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

Amazon said Thursday John Felton, the company's top logistics executive, will take over as chief financial officer of its AWS cloud computing unit. In a blog post, Doug Herrington, Amazon's worldwide retail chief, said Felton would take on a new role as senior vice president and Amazon Web Services CFO. Udit Madan, Amazon's vice president of transportation, will replace Felton. Felton has been with Amazon for nearly two decades, most recently serving as the head of its worldwide operations division. Felton will replace AWS' current CFO Richard Puccio.

Persons: John Felton, Doug Herrington, Felton, Udit Madan, Andy Jassy's, I'm, Richard Puccio, Puccio, shakeup Organizations: Amazon, Amazon Web, AWS, Street, CNBC Locations: He's

☆ 10 industry leaders transforming business in 2023
▼ + stars: | 2023-12-11 | by ( ) www.businessinsider.com time to read: +20 min

In 2023, Business Insider's annual list of People Transforming Business highlights key players across the advertising, ESG, finance, AI, and labor sectors. Increasingly, they're turning to more opaque private credit markets to borrow money. The world of private credit sits outside the traditional banking system. Analysts expect the private credit market to balloon in size — likely keeping lawyers like Breen very busy. Muthukrishnan is trying to make sense of how risky these private credit loans are by overseeing what is so far the most comprehensive look at vulnerabilities in the industry.

Persons: Mira Murati, who's, Vince Toye, Eileen Fisher, Eileen Fisher Fisher, Guerin Blask, Eileen Fisher Eileen Fisher, she's, Fisher, Janelle Jones, Jones, Lexey, —, She's, Justin Breen, Proskauer Breen, Proskauer Justin Breen, he's, Breen, Ares Capital, He's, McLaren, Julie Su, Labor Julie Su, Department of Labor Julie Su, Su, Marty Walsh, Murati, Jim Wilson, Neal Mohan, YouTube Mohan, Katie Thompson, YouTube It's, YouTube isn't, Mohan, Muthukrishnan, Satya Nadella, Microsoft Satya Nadella, Ben Kriemann, Nadella, Steve Ballmer, Mathias Döpfner, Axel Springer, Tim Cook, Apple Cook, Justin Sullivan, Cook, Steve Jobs, Jobs, JPMorgan Chase Toye, JPMorgan Chase, Toye, they'll, Vince Toye's, Bella Sayegh, Rebecca Ungarino, Lara O'Reilly, Juliana Kaplan, Alex Nicoll, Tim Paradis, Stephanie Hallett, Michelle Abrego, Josée Rose, Ryan Joe, Emily Canal, Kaja Whitehouse, Alyssa Powell, Davis, Jonann Brady Organizations: JPMorgan, Service Employees International, SEIU, New York, Ford, Service Employees International Union, United Auto Workers Union, Spelman College, US Department of Labor, Economic Policy Institute, Center for Economic, Research, Department of Labor, The New York Times, Ares, Churchill Asset Management, European, Atlético Madrid, Labor, Labor Department, MacArthur Foundation, New York Times, Dartmouth, OpenAI, Associated Press, YouTube, NFL, DirecTV, Federal, Microsoft, Manipal Institute of Technology, University of Wisconsin -, University of Chicago, Apple, Apple Watch, Google, Time, JPMorgan Chase, National Housing Trust, Trenton Almgren Locations: McDonald's, Lorain , Ohio, Atlanta, California, Los Angeles, Albania, Canada, Muthukrishnan, Hyderabad, India, University of Wisconsin - Milwaukee, OpenAI, Virginia, Wells Fargo, Trenton

☆ Leaked email shows Amazon's private label boss moved to a new job internally after the company cut dozens of in-house brands
▼ + stars: | 2023-10-16 | by ( Eugene Kim | ) www.businessinsider.com time to read: +2 min

Amazon's executive in charge of its private-label business has found a new role on the supply chain side, following the company's decision to axe dozens of house brands, Insider has learned. Matt Taddy, formerly Amazon's VP of private brands, is now VP of supply chain optimization technology, also known as SCOT, according to an internal email reviewed by Insider. Amazon's private label business launched dozens of in-house brands in recent years across a number of categories, including clothing, furniture, and electronics. The Federal Trade Commission said in a lawsuit against Amazon last month that the company "degrades its search quality by stacking the deck against third-party competitors of Amazon's private label products." In response, Amazon started significantly scaling back its private label business, and decided to cut many of these brands, according to the Wall Street Journal .

Persons: Matt Taddy, Taddy, Deepack Bhatia, John Felton, Felton, Matt, didn't Organizations: Worldwide Operations, Federal Trade Commission, Amazon, Wall Street, University of Chicago, Microsoft

"I'm very, very lucky because I wouldn't have had the courage to go and do that acquisition, but I give all the credit in the world to Dave Clark," Petersen said. "There's a perfect complement of skill sets," Petersen told Forbes in June 2022. Petersen told Clark he should engage with Shopify's team, according to a person with direct knowledge of the negotiations. Clark, Petersen and Wagers met in Texas in mid-August to fine-tune the forecasts. Flexport told CNBC that an employee's politics are not relevant in personnel decisions.

Persons: Dave Clark, Ryan Petersen, he'd, Petersen, Clark, excoriated Clark, we've, Clark wasn't, Jeff Bezos, It's, Flexport, Clark overspent, Flexport's, He'd, Sanne Manders, Dave, Shopify, Tobias Lutke, Lutke, Shopify's, glanced, didn't, Fund's Trae Stephens, Michael Ronen, SoftBank, Andreessen Horowitz, Bob Swan, Samyukta Lakshmi, Kenny, Stuart Leung, pare, Leung, —, Lindsey Wasson, Clark's, Stephens, Peter Thiel, Trump's, Petersen's, Sen, Joe Manchin, Chris Ferro, Ferro, Parisa Sadrzadeh, couldn't, Amazon, Sadrzadeh, Burak Yolga, Yolga, Nelly Organizations: North, Amazon, Twitter, CNBC, UPS, FedEx, Milken Institute Global Conference, Bloomberg, Getty, Forbes, Deliverr, Shopify's, Anduril Industries, Intel, Intel Corp, U.S ., Clark, Republican, Founders Fund, Democratic, Street Journal, Flexport Locations: Phoenix, Silicon, Clark, Beverly Hills , California, U.S, Flexport, Deliverr, Miami, Flexport's Bellevue , Washington, Bengaluru, India, Flexport's, Asia, U.S . West Coast, Texas, Ohio, Arizona, Thiel's, West Virginia, Seattle, integrations

REUTERS/Lindsey Wasson/File Acquire Licensing Rights Read moreLOS ANGELES, Sept 6 (Reuters) - Former Amazon executive Dave Clark on Wednesday announced that he will resign as CEO of U.S. logistics startup Flexport about a year after he joined the company. The Wall Street Journal reported that Clark is preparing for a potential run for Texas governor, a topic he did not address in his statement. Clark joined the company as co-CEO in September 2022 after a long career at Amazon.com (AMZN.O). He became sole CEO in March, when founder Ryan Petersen became executive chairman. Clark, best known for building Amazon's sprawling warehouse and delivery network, said he was preparing to launch a Flexport product for small businesses on Thursday.

Persons: Dave Clark, Amazon's, Lindsey Wasson, Clark, Ryan Petersen, Petersen, Flexport, Lisa Baertlein, Bill Berkrot, Cynthia Osterman Organizations: REUTERS, Amazon, Wednesday, Street Journal, Texas, Twitter, Shopify Logistics, Thomson Locations: Seattle , Washington , U.S, ANGELES, Flexport, Los Angeles

☆ Oilfield firm SLB halts all shipments to Russia
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

July 14 (Reuters) - Top oilfield services firm SLB (SLB.N) on Friday said it is halting shipments of products and technology into Russia from all its operations over an expansion of Western sanctions. SLB, the world's largest oil service and equipment provider, was one of the few providers to continue working the country's oil sector following Russia's invasion of Ukraine. The Curacao-domiciled firm recently had 9,600 employees working for top Russian oil and gas companies such as Gazprom Neft and Rosneft. The changes included barring Russia employees from accessing certain software and messaging systems, and walling off the unit from other operations. U.S. oilfield rivals Halliburton and Baker Hughes sold or put their Russian operations on the block soon after the February, 2022, invasion.

Persons: SLB, walling, Baker Hughes, Gary McWilliams, David Gregorio Our Organizations: Schlumberger, European Union, Canada, Gazprom Neft, Reuters, Russia, Halliburton, Thomson Locations: Russia, Ukraine, Curacao, Paris, Houston, London, The Hague, U.S

☆ Amazon's North America fulfillment head is leaving
▼ + stars: | 2023-06-01 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

A worker sorts out parcels in the outbound dock at Amazon fulfillment center in Eastvale, California on Tuesday, Aug. 31, 2021. One of Amazon 's top operations executives is leaving the e-retailer, the company confirmed. Melissa Nick, a vice president of North America customer fulfillment, will depart the company June 16, Amazon said. Nick reported to Yonatan Gal, a vice president in charge of overseeing Amazon's fulfillment supply chain, equipment maintenance and repairs, as well as fulfillment execution, in North America, according to internal company documents viewed by CNBC. Chris Vonderhaar, a vice president in charge of Amazon Web Services data centers, is leaving the company, GeekWire reported on Monday.

Persons: Melissa Nick, Amazon, Nick, Barbara Agrait, Melissa, Yonatan, Stefano Perego, John Felton, Amazon's, Andy Jassy's, Andy Jassy, Chris Vonderhaar, GeekWire, Jay Carney, Dave Clark Organizations: North, Amazon, CNBC, Amazon Web, Airbnb, Amazon Logistics Locations: Eastvale , California, North America, Europe

Raoul Sreenivasan, who joined Amazon in 2016 and currently oversees planning, performance and cargo for Amazon Global Air, will take over most of Rhoads' Amazon Air responsibilities, Felton said. As part of an effort to handle and deliver more of its own packages, Amazon launched an air cargo business. Rhoads joined Amazon Air in its early days and has overseen much of the unit's growth, including the opening of a $1.5 billion air hub in Kentucky. Air cargo rates have plunged from record highs hit during late 2021, when port snarls and a dearth of international flights pinched capacity and drove up prices. Correction: Sarah Rhoads joined Amazon in 2011.

Persons: Mark Makela Sarah Rhoads, John Felton, Amazon's, Rhoads, Felton, Raoul Sreenivasan, Sreenivasan, Andy Jassy, Becky Gansert, Heather MacDougall, Pam Greer, Sarah Rhoads Organizations: Lehigh Valley International, Amazon, CNBC, Amazon Global Air, Amazon Global, DHL, TNT Express, FedEx, U.S . Navy, UPS, Amazon Air, Atlas, Boeing, Hawaiian Airlines, Airbus, Air, U.S, Bloomberg ., Amazon Logistics Locations: Allentown , Pennsylvania, U.S, Kentucky

☆ Amazon's worker safety hazards come under fire from regulators and the DOJ
▼ + stars: | 2023-04-15 | by ( Katie Tarasov | ) www.cnbc.com time to read: +8 min

In 2021, Amazon's injury rate was almost 1.5 times the industry average. Jennifer Crane works through pain at an Amazon warehouse in St. Peters, Missouri, after hurting her wrist in October. Amazon worker Jennifer Crane at her house outside St. Louis, Missouri, in 2022. OSHA also cited Amazon for 14 record-keeping violations, finding that the company failed to properly report worker injuries and illnesses. If you're rushing, you're going to make mistakes and someone's going to get hurt."

☆ It's really hard for foreign companies to break up with Russia — and there are 3 main reasons why
▼ + stars: | 2023-03-30 | by ( ) www.businessinsider.com time to read: +7 min

One year after Russia invaded Ukraine, just 520 firms have fully exited Russia, per a Yale study. Quite simply, it's just not that straightforward for a company to get out of Russia right now — and there are three main reasons why. Companies have been trying to exit Russia in an orderly fashionMany companies were quick to announce their intent to leave the Russian market after it invaded Ukraine. Thus, companies that want to exit Russia are pressed to find buyers for their Russian operations who would continue running the business under a different brand. Multinational companies face operation challenges in their exitsBecause many foreign companies operating in Russia are multinationals, shutting operations in the country can have a domino effect on their businesses elsewhere.

☆ The US Air Force is stripping most of the identifying information off of its biggest planes
▼ + stars: | 2023-03-05 | by ( Thomas Novelly | ) www.businessinsider.com time to read: +6 min

US Air Mobility Command has ordered its refueling and cargo planes to obscure their identifying markings. "At the end of the day, it's still very clearly an Air Force plane unless you're going to start painting them white or something," Paladino said. A US Air Force C-130 with most of its markings removed at Rafael Hernández International Airport in Puerto Rico on February 25. Minihan's memo, which was leaked in late January, highlights the mentality and war footing on which he's placed Air Mobility Command, which has historically been used as a support organization for combat operations. Air Mobility Command played a major role in the Afghanistan evacuation in 2021 and continues to help deliver weapons and aid to Ukraine in its fight against Russia.

☆ Amazon confirms it is raising pay for warehouse staff and delivery drivers by $1 per hour
▼ + stars: | 2022-09-29 | by ( Isobel Asher Hamilton | ) www.businessinsider.com time to read: +2 min

Amazon announced Wednesday it's upping pay for warehouse workers and drivers by roughly $1 per hour. Insider's Katherine Long reported Amazon was planning broad pay raises of between $0.50 and $1 on Wednesday before Amazon's announcement. Amazon did not say specifically why it had chosen now to up pay for its warehouse workers and drivers. This year saw the creation of the first US Amazon warehouse workers' union at a facility in Staten Island, New York. Amazon warehouse workers in the UK protested in August after being awarded a pay rise of 35p (38 cents).

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