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Read previewThe woman who alleges she was wrongfully portrayed in "Inventing Anna" is trying to get her hands on the confidential notes and sources of the journalist whose article inspired the Netflix show. Rachel Williams, who was friends with the real-life Anna Sorokin, sued Netflix last year. In court filings this week, Netflix lawyers revealed that Williams' lawyers want to obtain Pressler's private journalistic notes. AdvertisementNetflix waived reporter's privilege once it used the notes for 'Inventing Anna,' Williams' lawyers argueOn October 4, Sorokin — who sold her life adaptation rights for "Inventing Anna" — is scheduled to testify for a deposition in Williams's suit against Netflix. AdvertisementJulia Garner as Anna Sorokin and Katie Lowes as Rachel Wiliams in Netflix's "Inventing Anna."
Persons: , Anna, Rachel Williams, Anna Sorokin, Shonda Rhimes, Jessica Pressler, Williams, Pressler, Anna Delvey, Sorokin, she'd, Pornhub, reporter's, Sorokin —, Colm Connolly, Julia Garner, Katie Lowes, Rachel Wiliams, Alexander Rufus, Isaacs, Davis Wright Tremaine, didn't Organizations: Service, Netflix, York, Business, American Express, Fair, HBO, Immigration, Customs, New, Fashion, Journalists, BI, New York, Vox Media Locations: Morocco, Manhattan, Germany, Delaware, United States, New York, Netflix's
Arizona State University is launching a program for the parents and guardians of enrolled students called "Thriving in Your Empty Nest Chapter." "Many parents talk [about] the tears they shed, or that pit in their stomach, a sense of pride, but also grief of this profound transition. The online module will consist of live events every Friday via Zoom and allow parents to meet other parents around the world. "And because it's for parents, there's no quizzes, there's no homework, there's no expectation to have to finish it all. We're getting those dates together right now, and it's currently open to any ASU parents as well as ASU alumni," with children heading to college.
Persons: Kari Cardinale, Cardinale, " Cardinale, Rachel Glik, . Cardinale, Barbara Waxman, Gretchen Rubin, there's, It's, We're, it's Organizations: Arizona State University, Modern Elder Academy, CNBC, ASU Locations: United States
UK economy flatlines again in July, below expectations
  + stars: | 2024-09-11 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +3 min
LONDON — The U.K. economy continued to flatline in July on a month-on-month basis, flash figures published from the Office for National Statistics showed Wednesday. Britain's economic growth was up 0.5% in the three month to July, slightly below economist expectations and the 0.6% recorded in the second quarter ending in June. The U.K. economy had recorded modest but steady expansion almost every month so far this year, having emerged from a shallow recession at the start of the year. Finance Minister Rachel Reeves said the print left her "under no illusion" of the challenges faced by the U.K. economy. But she added that further movement in interest rates anticipated from the Bank of England could help ease wider growth pressures.
Persons: Liz McKeown, Keir Starmer's, Rachel Reeves, Reeves, Jeremy Hunt, Lindsay James, James Organizations: Office, National Statistics, Gross, Reuters, Labour, Conservative, Quilter Investors, Treasury, Bank of England Locations: flatline, U.K
CNN —Joan London knew when Tuesday’s debate began she would not vote for Donald Trump. Until this week’s debate in Philadelphia, though, she planned to honor her conservative principles and write in some other Republican. Her decision to back Vice President Kamala Harris was the most significant shift in the reaction we received from this group of voters during the debate and in its immediate aftermath. “Trump came off as irrational and desperate.”Vice President Kamala Harris speaks during the presidential debate at the National Constitution Center in Philadelphia on September 10. Doug Mills/The New York Times/Bloomberg/Getty ImagesOther Harris voters delighted in her success distracting and rattling Trump.
Persons: Joan London, Donald Trump, “ Harris, , Ronald Reagan’s, Nikki Haley, Trump, Kamala Harris, Chris Mudd, “ Trump, Kamala, ” Lisa Reissman, Harris, ” Reissman, Saul Loeb, Joe Biden, Biden, Davette Baker, Larry Malinconico, “ Kamala Harris, Linda Rooney, Haley, Rooney, “ She’s, ” Rooney, , “ Kamala, Cynthia Sabatini, ” Sabatini, Sabatini, “ I’m, Antonio Munoz, Munoz, ” Munoz, Zoila Sanchez, Sanchez, “ Donald Trump, ” Allen Naparalla, Naparalla, Doug Mills, Marvin Boyer, Donald, Natalya Orlando, Priscilla Forsyth, “ Kamala Harris ’, Rachel Kulak, Jaclyn Taylor, “ Kamala didn’t, ” Billy Pierce, ” Debbie Katsanos, Betsy Sarcone, Stanley Tremblay, we’ve, ” Gina Cilento Organizations: CNN, Republican, South Carolina Gov, , Trump, GOP, National Constitution Center, African American Democratic, Lafayette College, ” Voters, Harris, Media, Reagan Republican, Las, New York Times, Bloomberg, Getty, Trump loyalists, Democratic Locations: London, Berks County, Philadelphia, United States, Ukraine, Russia, Cedar Falls , Iowa, Wisconsin, Milwaukee, Northampton County , Pennsylvania, Delaware County, Las Vegas, Nevada, Cedarburg , Wisconsin, , New Hampshire, Sioux City , Iowa, Richmond , Virginia, Iowa, South Carolina
The Missouri Supreme Court ruled Tuesday that an amendment that would enshrine abortion access in the state's constitution can appear on the general election ballot. A majority of the state Supreme Court said that a previous judgment by a circuit court is reversed, directing Missouri Secretary of State John Ashcroft to inform local election officials to place Amendment 3 on the state's Nov. 5 ballot. "The Missouri Supreme Court’s ruling ensures that Amendment 3, the Right to Reproductive Freedom Initiative, will appear on the November ballot, giving voters—not politicians—the power to decide on this critical issue. Missouri is one of 10 states that will have an abortion-rights amendment on the ballot this year. In that ruling, Limbaugh stopped short of removing the measure from the ballot, providing the campaign the opportunity instead to appeal to the state Supreme Court before a Tuesday deadline.
Persons: State John Ashcroft, , Rachel Sweet, , Freedom, Ashcroft, Christopher Limbaugh, Limbaugh, Mary Russell Organizations: Missouri Supreme, State, Initiative Locations: Missouri, Cole
CNN —President Joe Biden on Tuesday described the killing of a 26-year-old American activist in the Israeli-occupied West Bank last week as an apparent accident, backing the Israel government’s description. Israel has claimed that Aysenur Ezgi Eygi was “hit indirectly and unintentionally by IDF fire” on Friday. “We’re finding more detail,” Biden told reporters on the South Lawn of the White House Tuesday. “No one, no one should be shot and killed for attending a protest. “Now we have the second American citizen killed at the hands of Israeli security forces.
Persons: Joe Biden, Eygi, Biden, , ” Biden, Israel, Antony Blinken, , It’s, Rachel Corrie Organizations: CNN, West Bank, American, IDF, International Solidarity Movement, University of Washington, Palestinian Ministry of Health Locations: Israel, Turkey, Gaza, East Jerusalem, Ramallah
New York CNN —As Vice President Kamala Harris and former President Donald Trump take the stage Tuesday night in Philadelphia in their first face-to-face meeting, the spotlight will also shine on the host of the debate: ABC News. And Trump’s campaign had already accepted the debate rules as sent out by ABC News’ general counsel. But ABC executives remained confident both candidates would show up, and ultimately, the Harris campaign relented. In the days ahead of the debate, Trump has attacked the network, questioning its impartiality. Both Muir and Davis are experienced primary debate moderators, but neither has moderated a presidential debate between the Democratic and Republican candidates.
Persons: Kamala Harris, Donald Trump, David Muir, Linsey Davis, Harris, Trump, Joe Biden, Harris ’, , Almin Karamehmedovic, Kim Godwin, ” Trump, Fox News ’ Sean Hannity, Dana Walden, Walden, George Stephanopoulos, , Jean Carroll, Carroll, Rachel Scott, incisively, Scott “, Muir, Davis, Rick Klein, “ We’re, CNN’s MJ Lee, Kristen Holmes Organizations: New, New York CNN, ABC, ABC News, Democratic, Disney, CNN, Trump, National Constitution, Fox News, Disney Entertainment, National Association of Black Journalists, Republican, The New York Times Locations: New York, Philadelphia, It’s, Manhattan
CNN —Australian breaker Rachael Gunn, the Olympian widely known as B-Girl Raygun who went viral after her performance at the Paris Games, is now ranked the No. The 37-year-old claimed the top spot in the latest women’s rankings released by the World DanceSport Federation (WDSF) – the governing body of breaking and other dancesports. However, she won the gold medal at the 2023 WDSF Oceania Championships, securing her 1,000 ranking points and vaulting her up to No. “In alignment with the Olympic Qualification System, ranking events were intentionally not held between 31 December 2023 and the Olympic Games Paris 2024. From our perspective, that was nothing really shocking.”Raygun became one of the stories of the Paris Games after her performances at La Concorde Urban Park.
Persons: Rachael Gunn, Raygun, Japan’s Ami, Lithuania’s, WDSF, Robin, Ezra Shaw, Adele, Rachel Dratch, Jimmy Fallon, ” Raygun, , , Martin Gilian, Frank Franklin, , that’s, “ It’s Organizations: CNN, Paris Games, World DanceSport, Oceania, Oceania Championships, Olympic, Games, Olympic Games, Olympics, Getty, Twitter, Concorde Urban Locations: United States, France, Lithuania, Japan, Paris, Shanghai, Budapest, Australia, Munich, Los Angeles
But even when her income rose, she still felt broke until she changed the way she managed money. At that time, she was working as a hairstylist in Minneapolis, making little more than minimum wage and struggling to pay her bills. One of the first things that a lot of business owners don't realize is how important it can be to have a set salary. Their overall goal was to have enough of an emergency fund that could cover both their living expenses and their business expenses for a year. But once all the amounts owed became clear, they were able to set goals to pay off each debt.
Persons: Rachel Pedersen, , Pedersen, " Pedersen, Poul Pedersen, doesn't, there's Organizations: Service Locations: Dakota, Minneapolis
These emotions are often indicators of empty nest syndrome. 5 ways to cope with empty nest syndromeThe best way to set yourself up for success is to plan ahead for being an empty nester, Glik says. These are additional ways that you can cope with empty nest syndrome, according to Glik: Be mindful of how you view your child leaving your home . In fact, it's a continuation of your relationship," Glik says. In fact, it's a continuation of your relationship," Glik says.
Persons: Rachel Glik, Glik, you've Organizations: CNBC, Invest
CNN —US Secretary of State Anthony Blinken has called for “fundamental changes” to the way Israeli forces operate in the occupied West Bank after the killing of American activist Aysenur Ezgi Eygi at a protest last week. “No one, no one should be shot and killed for attending a protest. “Now we have the second American citizen killed at the hands of Israeli security forces. And we’ll be making that clear to the senior-most members of the Israeli government.”Blinken added that the United States had “long seen” reports of Israeli forces ignoring extremist settler violence against Palestinians and reports of excessive force by Israeli forces against Palestinians. The 26-year-old activist, who was born in Turkey, was shot while taking part in a weekly protest against an Israeli settlement near the Palestinian village of Beita.
Persons: State Anthony Blinken, Aysenur Ezgi, Eygi, , Blinken, It’s, ” Blinken, Rachel Corrie, Israel Organizations: CNN, State, West Bank, Israeli Defense Forces, American, University of Washington, International Solidarity Movement, IDF, Military Police, Investigation, Military, General’s Corps, Palestinian Ministry of Health Locations: London, United States, Turkey, Beita, Gaza, Israel, East Jerusalem, Ramallah
Economists were expecting a net gain of 160,000 jobs and for the unemployment rate to fall to 4.2%, according to FactSet consensus estimates. With inflation pretty much tamed and moderating as expected, the Federal Reserve has turned its focus to the labor market (the other part of its dual mandate). Job growth has been slowing, but there were indications that the labor market was weakening under the weight of 23-year-high interest rates. A ‘place of stability’July’s shockingly weak jobs report stoked fears that the jobs market was collapsing, potentially taking the economy into a downturn. And while a rate cut is coming, the jury is still out on the exact size of that move.
Persons: ” Eugenio Alemán, Raymond James, August’s, We’re, Rachel Sederberg, , Becky Frankiewicz, , , Kory Kantenga, , ” Kantenga, Michelle Holder, haven’t Organizations: CNN, Employers, Bureau of Labor Statistics, Federal Reserve, Fed, ManpowerGroup, Retail, Americas, LinkedIn, John Jay College, City University of New Locations: ManpowerGroup North America, Michigan, City University of New York
The medication, it took over, and we need to find Daddy right now.”Later, Perez asked for medical attention. She knows, because she was walking through all the blood.”Time and again they asked Perez to imagine what could have happened. “They picked me up, they read me my rights and my mind’s going, ‘What’s going on?’,” the elder Perez told CNN. The elder Perez told CNN the samples had been identified as coming from a male, but that was all. Harrell, whose office is counsel to the city of Fontana, asked CNN to return any video it had, unaired.
Persons: California CNN — Tom Perez, Perez, ” Perez, , Tom Perez, , “ Papa Tom ” —, Margo —, Margo, , That’s, , Joanna Piña, Cpl, Sheila Foley, Piña, ” Foley, Robert Miller, Miller, PEREZ, Fontana, David Janusz, Kyle Guthrie, Guthrie, Thomas —, Perez —, Janusz, berate Perez, Dolly Gee, ” Guthrie, “ Thomas, that’s, ” Janusz, Jeff Noble, . Miller, ” Noble, They’re, Mr, where’s, Perez’s, Carl Peraza, Peraza, Tom, ” Peraza, Police badgered Perez, , ’ Janusz, … You’re, Thomas, Thomas ’, you’re, Judge Gee, “ She’s, ” Tom Perez, Noble, — Perez, Father, Thomas Perez, Miranda, ‘ What’s, Papa Tom, Jerry Steering, he’d, they’ve, it’s, Shel Harrell, Harrell, ” Judge Gee, Ruben Duran, ” Duran, he’s, Fontana Guthrie, Michael Dorsey, Perez Jr, Dorsey, there’s, CNN it’s Organizations: Fontana, California CNN, CNN, Fontana Police Department, THE, US, ” Police, Police, that’s, Los Angeles International Airport, City of, City Locations: California, Fontana , California, Fontana, Los Angeles, Oakland , California, Northern California, City of Fontana, , United States
Mr. Ford kept their daughter at home to ensure Ms. Ford wouldn’t tell anyone in the emergency room how Robert’s injury happened. Ms. Ford, now 65, is serving a sentence of life without parole at the Central California Women’s Facility in Chowchilla. Leigh Goodmark, the author of the book “Imperfect Victims,” said that self-defense law imagines two parties of equal strength, size, weight and physical capability. But where self-defense law really fails to capture a woman’s experience is around the question of imminence. For women like Ms. Ford, Ms. Ayobi and many others, killing their way out of a relationship was an act of salvation — for themselves, for their children.
Persons: Anita Ford, Barry Ford, They’d, Robert, they’d, she’d, didn’t, wouldn’t, Ford, Ford’s, ” Mr, Debra Gomes, “ It’s, , I’m, , George Wright, Wright, — Lionel Cashman, John Aldridge —, Aldridge, Cashman, Ms, , Theresa Jones, Caroline Light, Michal Goldstein, Agatha Nyarko, they’ve, Cynthia Gillespie, doggedly, Gillespie, Leigh Goodmark, Nancy Grigsby, She’s, ” Ms, Grigsby, she’s, Shajia Ayobi, Ghulam Ayobi, Ayobi, Masiula, he’d, Debbie Mukamal, Andrea Cimino, what’s, proctors, proctor, we’d, Weeks, Miranda Gallegos, Janeen Snyder, Debby Saravia, Jamie Monroe, Malinda Jones, Mukamal, We’re, Lenore Walker, Walker, Karla Porter, Porter, It’s, Michal Buchhandler, Raphael, Mary Anne Franks, shouldn’t, Angelique Lyn Lavallee, Kevin Rust, Bertha Wilson, , Justice Wilson, Elizabeth Sheehy, George Zimmerman, Kyle Rittenhouse Organizations: Defense, Fords, Stanford, School’s Criminal, Center, Central, Central California Women’s, National Commission, An Ohio Supreme, Northwest Women’s Law Center, Violence Network, Ford, Stanford Criminal Justice Center, California Institution, Women, Research, Widener University, George Washington University, University of Ottawa Faculty of Law Locations: United States, Central California, Chowchilla, Mexico, Huntington Beach, Calif, Lakewood, An Ohio, Florida, Seattle, Ohio, Afghanistan, Sacramento, Canada, California, manila, Chino Hills, Los Angeles, D.U.I.s, San Jose, Maryland, New York , California, Oklahoma
Its wearer, of course, was Ella Emhoff, Vice President Kamala Harris’ stepdaughter and potential next first daughter of the US. “She needs a dress and she wears it, and people will watch this event but it won’t really be about what she’s wearing. Emhoff's dress was inspired by tea parties, as Ando wanted to the portray the potential next first daughter as "a modern princess." Armed with a tiny mic, a bashful attitude and an impressive 2.9 million TikTok followers, Ando filmed himself approaching celebrities asking if he could make them a dress. Ando, by contrast, has built an impressively starry client roster and millions of followers before even launching a brand.
Persons: Joe Ando, , Ella Emhoff, Kamala Harris ’, ” Ando, , Ando, Ando didn’t, Ralph Lauren, Carolina Herrera, Oscar de la, Joe Biden, Harris, Kerby Jean, Raymond —, Dr, Jill Biden, Adam Lippes, Helena Hudlin, Meena Harris, Chip Somodevilla, Dakota Johnson, Rachel Zegler, Keke Palmer, lister, Guy ” —, Rick Owens, it’s, they’re Organizations: CNN, Fashion Institute of Technology, Democratic, Convention, Vogue, Locations: Brooklyn , New York, Chicago, New York
At least, that's what data security experts like Matt Radolec, vice president of incident response at data security company Varonis, say. "Copilots have pass-through permissions," Radolec said. There's also value in proceeding at a slow and steady pace with gen AI processes. Instead, Ensono is developing its own tool so the company can better enable and control its data security. Gen AI has made cybersecurity mistakes costlier, and insiders now pose a bigger threat — malicious or otherwise — than ever before.
Persons: Matt Radolec, GitHub, Salesforce's Einstein, Radolec, it's, they've, Shawnee Delaney, Uber, Delaney, Meredith Graham, I'm, Graham, costlier Organizations: Istock, Getty, Vaillance Group, Defense Intelligence Agency, Merck, Microsoft Locations:
Ella Emhoff's DNC look was customEmhoff, an artist, designer, and the internet's beloved "First Daughter of Bushwick," wore a tea-length gown for her DNC appearance. Ando said the dress took over 75 hours to make and that Emhoff crocheted the flower that sat on one sleeve herself. Outside the DNC, Emhoff's presence in the fashion community has been growing in recent years. Emhoff's father, Doug Emhoff, married Harris in 2014, so Harris has been in her life since she was a teen. With her one-of-a-kind look for the convention, Emhoff is likely to sport more fashion-forward looks throughout Harris' campaign.
Persons: , Kamala Harris, Harris, Meena Harris, Helena Hudlin, Ella Emhoff, Joe Ando, Ella Emhoff's, Chip Somodevilla, Mary Jane shoes, Ando, Rachel Zegler, Dakota Johnson, I've, Ella, Win McNamee, I'm, Emhoff, Ando's, Helmut Lang, Harris Walz, Thom Browne, Joe Biden's, Miu, Prabal Gurung, Emhoff's, Doug Emhoff, Kamala, She's, she's Organizations: Service, Democratic National Convention, DNC, Business, Convention, Fashion Institute of Technology, IMG Locations: pleats, Emhoff
At the Democratic National Convention, there has been no shortage of eye-grabbing content. Manicure stations where attendees can have their nails painted blue, with the option to add a “KH” adornment. An abundance of pearls, stars and pantsuits (all signifiers of Vice President Kamala Harris’s style). Mr. Nordeman, a photographer for The New York Times Styles desk, has spent his days in Chicago “walking and looking,” as he put it, until something grabs his attention. “I have an idea of what I’m looking for, but I never know exactly what it is until I see it,” he said.
Persons: Lil Jon, Oprah Winfrey, John Legend, Kamala Harris’s, Harris, JD Vance, Landon Nordeman, Nordeman, The New York Times Styles, , Organizations: Democratic National Convention, Republican, The New York Times, Republican National Convention, The Times Locations: Chicago
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewX's office in Brazil is set to close "immediately" amid an escalation in Elon Musk's public feud with Brazilian Supreme Court judge Alexandre de Moraes. "Last night, Alexandre de Moraes threatened our legal representative in Brazil with arrest if we do not comply with his censorship orders," the X Global Government Affairs office announced in a post on the platform. The social media platform remains available for residents of Brazil to access, the company's post noted. X initially agreed to block the accounts per Brazil's legal orders, complying with content moderation requests similar to those made by Turkey, which the platform has previously agreed to honor.
Persons: , Alexandre de Moraes, Rachel Nova Conceicao, Moraes, De Moraes, Jair Bolsonaro, de Moraes, Brazil's, Jair Bolsonaro's, X, Musk Organizations: Service, Brazilian, X Global Government Affairs, Business, The National High Court, Reuters, Global Government Affairs Locations: Brazil, Elon, Turkey, andover
An amendment that would enshrine abortion access in Missouri's constitution will appear on the state's general election ballot, Missouri Secretary of State Jay Ashcroft's office announced Tuesday. Ashcroft, a Republican, deemed that the petitions to qualify the initiative for the ballot had the sufficient number of signatures. The ballot would also protect abortion rights up until fetal viability, around the 24th week of pregnancy, except to protect the life or health of the mother. Amendments that would protect or expand abortion rights will also appear on the ballot in seven other states this fall. Organizers in Arkansas, Montana and Nebraska have also submitted signatures for similar ballot measures.
Persons: State Jay Ashcroft's, Ashcroft, Rachel Sweet, Roe, Wade Organizations: State, Republican, U.S, Supreme, Voters Locations: Missouri, Arkansas , Montana, Nebraska, California , Michigan , Ohio, Vermont
Starbucks is parting ways with its CEO and bringing in the head of Chipotle to lead the coffeeshop chain, as it seeks to revive flagging sales and appease outside investors. Starbucks announced Tuesday that Brian Niccol, who has led the Mexican-style chain since 2018, will take over the coffee giant starting next month. Laxman Narasimhan, who'd been with Starbucks for less than two years, is exiting the company. But in its release announcing the change, Starbucks said Niccol had "transformed" Chipotle. Starbucks CFO Rachel Ruggeri will step in as interim chief executive until Sept. 9, when Niccol officially takes over the top job.
Persons: Brian Niccol, Laxman Narasimhan, who'd, who’d, Chipotle, Niccol, Rachel Ruggeri, Scott Boatwright, Jack Hartung Organizations: Starbucks Locations: Mexican, U.S, China
Starbucks unveiled an abrupt leadership change on Tuesday: Brian Niccol, a high-profile name in the restaurant industry, is taking the reins, after months of weak sales at the coffee giant and a falling stock price. Mr. Niccol will step in as chief executive next month, replacing Laxman Narasimhan, whose relatively brief stint in the top job at Starbucks began in March last year. The company’s chief financial officer, Rachel Ruggeri, will serve as interim chief executive until Mr. Niccol officially joins the company on Sept. 9. Mr. Niccol is coming off of six years at the helm of Chipotle Mexican Grill — a period that saw the fast-casual burrito chain nearly double its sales. The company’s stock price has increased about 800 percent since he took over in early 2018.
Persons: Brian Niccol, Niccol, Laxman Narasimhan, Rachel Ruggeri, Chipotle Organizations: Starbucks
Starbucks makes a change at the topThis just in: Laxman Narasimhan is out as the C.E.O. of Starbucks, the company announced on Tuesday, a year and a half since he succeeded Howard Schultz at the coffee chain. Narasimhan will be replaced by Brian Niccol, a fast-food industry veteran who executed a turnaround as C.E.O. Narasimhan has also been rocked by dueling activist investor campaigns and has had to fend off criticism from Schultz. Rachel Ruggeri, the Starbucks chief financial officer, will serve as interim C.E.O.
Persons: Laxman Narasimhan, Howard Schultz, Brian Niccol, Narasimhan, Schultz, It’s, Chipotle, Mellody Hobson, Rachel Ruggeri, Niccol Organizations: Starbucks, Narasimhan Locations: U.S, China
Starbucks announced Tuesday it's replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol as the coffee chain tries to reverse a sales slump. Before joining Starbucks, Narasimhan was chief executive of Reckitt, which owns brands like Lysol and Mucinex. Narasimhan's surprise ouster also suggests that Starbucks' board isn't interested in a deal with activist investors. When news of Elliott's stake in Starbucks first broke in July, the hedge fund offered Starbucks' board a settlement that would protect Narasimhan's job, CNBC previously reported. Starbucks' board did not initially respond or engage with Elliott for some time, driven in part by the lingering influence of Schultz.
Persons: Laxman Narasimhan, Brian Niccol, Rachel Ruggeri, Niccol, Narasimhan, Howard Schultz, Elliott, Chipotle, Mellody Hobson, shakeup, Brian, Hobson, he's, Bell, Narasimhan's, Schultz, Scott Boatwright, Jack Hartung Organizations: Starbucks, Elliott Management, Yum Brands, Bell, CNBC Locations: U.S, China, Chipotle, Pizza
Read previewLaxman Narasimhan is stepping down as CEO of Starbucks, just 17 months after he assumed the role in March 2023, the coffee giant announced on Tuesday. Chipotle CEO Brian Niccol will take over in September, with current CFO Rachel Ruggeri serving as interim CEO until then. Narasimhan's time at the head of the company had been tainted by falling sales, union clashes, and activist investors. Its former CEO keeps attacking the companyHoward Schultz, who led Starbucks for over 23 years, is not afraid to share his views on company management. In Starbucks' press release addressing the leadership change, Schultz didn't acknowledge Narasimhan's time at the company.
Persons: , Laxman, Chipotle, Brian Niccol, Rachel Ruggeri, Laxman Narasimhan, William Blair, Sharon Zackfia, Narasimhan, Chris O'Cull, Elliott, Paul Singer, Elliott Management, Howard Schultz, Stephen Brashear, Getty Howard Schultz, Schultz, Schultz didn't Organizations: Service, Starbucks, Business, Narasimhan's, Elliott Management, CNBC, Getty, Street, The Workers United, Financial Times, Pride Locations: China, Palestine
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