Starbucks announced Tuesday that Nordstrom CFO Cathy Smith will join the company as its new chief financial officer, replacing longtime veteran Rachel Ruggeri. The executive change is the latest for Starbucks after Brian Niccol joined the company as chief executive …
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Business
Treasury ends enforcement of business ownership database meant to stop shell company formation
by adminThe U.S. Treasury Department announced it will not enforce a Biden-era small business rule intended to curb money laundering and shell company formation. In a Sunday evening announcement, Treasury said in a news release that it will not impose …
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Kroger Chairman and CEO Rodney McMullen has resigned after an internal investigation into his personal conduct. Kroger, the nation’s largest grocery chain, said Monday that the investigation into McMullen’s personal conduct was unrelated to the …
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Business
DOGE plans to wind down consumer protection agency and fire nearly all staff, employees say
by adminThe Consumer Financial Protection Bureau’s Trump-appointed leadership plans to fire nearly all its 1,700 employees while “winding down” the agency, according to testimony from employees. In a trove of statements released late Thursday, federal employees said that the …
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When the Los Angeles wildfires swept through Southern California in January, Barbara Shay lost much more than the building housing the cafe she owned. Gone were the ingredients for menu items like grits or pancakes. …
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Business
Treasury Dept. will not enforce ownership information reporting for millions of businesses
by adminThe U.S. Department of the Treasury on Sunday announced it won’t enforce the penalties or fines associated with the Biden-era “beneficial ownership information,” or BOI, reporting requirements for millions of domestic businesses. Enacted via the Corporate Transparency Act in …
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Business
Musk says he’s sending Starlink tech to FAA while asserting, without evidence, that air safety is at risk
by adminElon Musk said Thursday that he’s sending his Starlink satellite internet terminals to the Federal Aviation Administration while saying, without providing evidence, that current technology poses a risk to air travel safety. The billionaire and top …
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The egg aisle is anything but cheaper by the dozen these days — and that’s becoming a big problem ahead of the Easter holiday. The makers of Easter egg dye kits are bracing for the …
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Business
Nvidia CEO Huang says AI has to do ‘100 times more’ computation now than when ChatGPT was released
by adminNvidia CEO Jensen Huang said next-generation AI will need 100 times more compute than older models as a result of new reasoning approaches that think “about how best to answer” questions step by step. “The amount …
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Electric vehicle maker Lucid Group on Tuesday said CEO Peter Rawlinson is stepping down as the company expects to more than double vehicle production this year to 20,000 units. Lucid said Marc Winterhoff, currently the company’s chief …