Nike just appointed a new CEO who came out of retirement to take the job.Elliott Hill will take over from John Donahoe in October, Nike said.It's the latest move Nike's making to right its business. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicki ...

Core Points - Boeing announced temporary furloughs for a large number of white-collar employees due to a strike involving around 30,000 workers who rejected a new pay contract [1][2] - The furloughs will involve selected employees taking one week off every four weeks on a rolling basis, with details provided to affected teams [1][5] - Boeing's CEO and leadership team will also take a pay reduction during the strike, although the size of the cut was not specified [2][5] Financial Impact - The strike halts production of key aircraft, including the 737 MAX, and is aimed at preserving cash for the heavily indebted company [2][3] - Historical context indicates that Boeing's last strike in 2008 resulted in a revenue loss of $4.3 billion and 70 fewer aircraft deliveries in the affected quarter [3] Operational Adjustments - In addition to furloughs, Boeing has implemented a hiring freeze, paused pay increases for managers, and restricted employees from flying business class [3][5] - The company emphasizes that all critical activities related to safety, quality, and customer support will continue, including the production of the 787 [5][6] Union Relations - The strike follows a union vote where approximately 95% of workers rejected the proposed contract, and 96% voted in favor of striking, marking the first full contract vote in 16 years [2]

Core Perspective - Meta's CEO Mark Zuckerberg anticipates that Apple will become Meta's "primary competitor" over the next decade, highlighting a growing rivalry between the two tech giants [1][5]. Company Culture and Approach - Zuckerberg contrasts Meta's open-source, rapid product release strategy with Apple's polished, closed-platform approach, suggesting that their differing cultures drive their competition [3][4]. - He emphasizes the importance of shipping products quickly and learning from feedback rather than waiting for perfect accolades, which he believes can hinder innovation [4]. Future Competition - Zuckerberg asserts that Apple is a more significant competitor than commonly perceived, with a focus on building open platforms as a long-term goal for Meta [5][6]. - The competition is not only product-based but also ideologically driven, reflecting differing values regarding the future of the tech industry and platform openness [6]. Market Dynamics - Apple's recent ventures, such as the Vision Pro headset and its growing advertising business, indicate a direct competition with Meta's offerings, particularly in the metaverse and AI sectors [7].

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.Access your favorite topics in a personalized feed while you're on the go. download the appThanks for signing up! Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewGeneral Motors is the latest car company to grant its dr ...

Intel's Historical Context and Current Challenges - Intel, under Andrew Grove's leadership in the late 20th century, became a dominant force in the PC market, rivaling Microsoft during the 1990s [1] - The company's success was driven by Grove's willingness to adapt to fierce competition from Japan [1] - Intel's current CEO, Pat Gelsinger, is implementing new initiatives to address the company's decline, as it struggles with production and strategic challenges [2] - Intel's market value has dropped from over $210 billion at the start of 2023 to less than $90 billion, while rivals like Nvidia and TSMC have seen significant growth [2] - Intel has struggled to capitalize on the generative AI boom, with its Gaudi 3 AI chip expected to generate only $500 million in sales this year [2] - The company announced layoffs of 15,000 employees, suspended its dividend, and cut capital spending, leading to a 25% drop in share price [3] Intel's Transformation and Strategic Moves - Intel is expanding its collaboration with Amazon Web Services through a multi-year, multibillion-dollar framework to work on custom chip designs [5] - Intel Foundry will produce chips using the new Intel 18A process, set to roll out in 2025 [5] - Intel Foundry is being established as a separate subsidiary with its own operating board and independent directors, aiming to optimize capital structure and growth [6] - The company is pausing new plant projects in Poland and Germany for two years to improve capital efficiency, while maintaining commitments to US manufacturing locations [6] - Investors responded positively to the announcements, with Intel's share price rising over 6% in pre-market trading [7] Analyst Perspectives on Intel's Turnaround - Analysts view the Amazon collaboration as a strategic win for Intel, providing publicity, revenue, and validation for its foundry business [5] - Bernstein's research note suggests that Intel's moves indicate it is not as desperate for cash as feared, though the announcements do not significantly change the current situation [7] - Challenges remain for Intel, particularly in workforce reduction and competition in the AI market, as the company missed an opportunity to invest in OpenAI seven years ago [7] Industry Context and Competitive Landscape - Nvidia has added around $1.6 trillion to its value since January 2023, while TSMC has risen almost 60% this year, highlighting Intel's struggles in comparison [2] - Intel's inability to capitalize on the generative AI boom contrasts with the success of rivals like Nvidia and AMD [2][7]

Boeing is "eliminating" first and business-class travel for executives, per a memo seen by BI.The aviation giant is battling to cut costs after thousands of workers went on strike.Boeing is also freezing hiring and considering furloughs, amid fears the strike could cost it billions. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite ...

Core Points - Michael Conway, CEO of Starbucks North America, is retiring in November after only eight months in the role, and the company will not appoint a replacement [1][2][4] - Sara Trilling, the current North American President, will take over the leadership of retail operations in the region [1][4] - Conway's retirement follows a recent leadership restructuring at Starbucks, which included the appointment of Brian Niccol as the new CEO [4][5] Leadership Changes - Conway previously held the position of group president of international and channel development and president of Starbucks Canada before becoming North America CEO [3] - Trilling has been with Starbucks for 22 years and previously oversaw 3,500 stores as senior vice president of the north division [4] - The decision to streamline leadership aims to enhance efficiency in decision-making processes within the company [4] Operational Challenges - Starbucks has faced operational issues in North America, including complex drink orders, rising prices, and fluctuating foot traffic, which have affected staff and profitability [5] - The company has also experienced public criticism and pressure from boycotts, particularly from former CEO Howard Schultz [5] - Niccol's plans for transformation focus on improving operations and enhancing customer experience [5]

"If anything, the last 15 months we've been back in the office at least three days a week has strengthened our conviction about the benefits," Jassy said.Jassy also said the company will flatten its org-chart by the end March 2025, with a 15% increase of individual contributors assigned to each manager.If you are an Amazon worker who wants to share your perspective, please contact Dominick via email or text/call/Signal at 646.768.4750. Responses will be kept confidential, and Business Insider strongly recom ...

Apple fans bought an estimated 37 million new iPhone 16s during the first weekend of pre-orders.That's about 12.7% lower than last year's iPhone 15 series first-weekend sales, one analyst said.Investors had speculated the 16, featuring Apple Intelligence, would drive a major upgrade cycle. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your fa ...

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.Access your favorite topics in a personalized feed while you're on the go. download the appThanks for signing up! Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAt around 7 p.m. on May 16, a courier working for Google ...