Samsung CEO won’t be sent back to prison for financial crimes
Samsung CEO Lee Jae-yong avoided another prison sentence on Monday after being found not guilty of financial crimes related to the controversial merger of two of the company’s affiliates. According to reports, the Seoul Central District Court ruled that prosecutors were unable to sufficiently prove that the 2015 merger between Samsung C&T and Cheil Industries […]
Subway’s new snack menu satiating appetite for growth, CEO says
Subway CEO John Chidsey discusses recent menu growth, store sales success and the restaurant chain’s outlook for 2024. Subway bosses say Americans’ desire to eat fresh at Subway is surging thanks to menu innovations and restaurant renovations. “When we started the rebuild about three years ago, we had a plan to transform this into a […]
New Macy’s CEO grabs reins amid takeover threats
Macy’s CEO Tony Spring will officially take the reins on Sunday as the storied retailer faces slowing sales growth and the threat of a takeover. Mr. Spring, 58, rose through the ranks at the luxury brand’s sister company Bloomingdale’s and has been Macy’s next CEO since last March, when Jeff Gennett announced his plans to […]
Singaporeans criticize US senator’s ‘ignorant’ grilling of TikTok CEO
TikTok’s Singaporean CEO Shou Chew came under scrutiny from Senator Tom Cotton at a hearing into social media’s online harms. Cotton repeatedly asked Chu about his nationality and possible ties to the Chinese Communist Party. Mr Cotton’s questions were criticized as ignorant and racist by some Singaporeans, who said the inferences were made based on […]
‘Hell of a Coincidence’ Shou Zi Chew Became TikTok CEO Day After Inking Deal with China
Sen. Tom Cotton (R-Ark.) said Wednesday that it was a “tremendous coincidence” that Sho Zhi Chu became CEO of TikTok the day after brokering the deal with China. Cotton spoke during a Senate Judiciary Committee hearing on online child sexual exploitation, which includes major technology companies such as Facebook, Snapchat, Discord, X, and TikTok. During […]
Cotton defends pressing TikTok CEO on ties to Chinese Communist Party
Sen. Tom Cotton (R-Arkansas) defended At a Senate hearing on Wednesday, TikTok CEO Xu Chu was questioned over whether he has ties to the Chinese Communist Party. “Unfortunately, Singapore is one of the places in the world where the penetration and influence of the Chinese Communist Party is highest,” Cotton told Fox News’ “The Story […]
H&M CEO quits as fashion group fails to keep up with rivals
See what’s being clicked on FoxBusiness.com H&M on Wednesday replaced Helena Helmarsson as CEO and replaced company veteran Daniel Elber as CEO as the Swedish fashion retailer’s performance lagged behind rivals such as Inditex and Shein. He made an unexpected announcement. H&M’s shares fell 12% as the company revealed sales fell 4% in December and […]
Boeing CEO says company has ‘much to prove’
Aviation expert Peter Rehm discussed reports on the Evening Edit that an Alaska Airlines jet was missing several bolts when it left a Boeing factory. Boeing President and CEO Dave Calhoun said Wednesday that the company is working to restore confidence after a door plug panel flew off one of its 737 Max 9 planes […]
‘Exortion, Plain and Simple:’ Spotify CEO Daniel Ek Blasts Apple’s Proposed App Store Changes
Spotify CEO Daniel Ek said Apple’s recently proposed App Store policy changes represent a “new low” for the tech giant. The head of Spotify, who has consistently criticized Apple’s stranglehold on the app market and the “taxes” it imposes on in-app purchases, calls Apple’s proposed changes “a robbery, plain and simple.” business insider report Apple […]
TikTok CEO vows to spend $2B on protecting US children
TikTok’s CEO has pledged to spend $2 billion to protect children and the other 170 million U.S.-based users of the popular video-sharing app. According to Bloomberg, TikTok chief Shou Chiu plans to spend a six-figure sum to protect the company’s trust and the world’s safety, and the company has a team of more than 40,000 […]