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When Warren Buffett is no longer Berkshire CEO, Greg Abel will succeed him
For the millions of people who tuned into the Berkshire Hathaway annual meeting, careful viewers were rewarded with an unexpected bit of news: who will be the next CEO of the company. In response to a question on Saturday about whether the company would eventually be too complex to manage, Berkshire Vice Chairman Charlie Munger …
Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program
This is breaking news. Check back here for updates. The Federal Reserve, saying “the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” cut interest rates to near-zero on Sunday and launched a massive $700 billion quantitative easing program to shelter the economy from the effects of the …
Here’s a map of the Forever 21 stores set to close
Forever 21 on Tuesday released a list of the nearly 180 locations it could potentially close as part of its bankruptcy proceedings. When the apparel retailer filed for bankruptcy on Sunday evening, it said it had 549 stores in the U.S. and 251 locations internationally. The planned closures represent about a third of Forever 21’s …
FAA chief says he won’t certify the 737 Max until he flies the plane himself
Steve Dickson Source: Delta Air Lines Federal Aviation Administrator Steve Dickson says he won’t allow the Boeing 737 Max jets return to the skies for service until he personally flies the plane himself. “I’m the final sign-off authority in the U.S., and I’m not going to sign off on the aircraft until I would fly …
Walmart’s e-commerce business on track to lose over $1 billion
Marc Lore, head of Walmart’s U.S. e-commerce business, and Doug McMillon, CEO of Walmart. Getty Images Walmart’s attempt to catch up with Amazon comes at a huge cost — and it’s stirring up hard feelings within the company. While Walmart has been making investments — like buying Jet.com for $3.3 billion — to try to …
Jet.com President Simon Belsham to step down as Walmart eliminates role
More than two years after Walmart bought Jet.com, the big-box retailer is taking steps to more fully integrate and fold the e-commerce platform into its own business. As part of the changes it has planned, Simon Belsham’s role as Jet president will be eliminated, and Jet team leaders will now report to Kieran Shanahan, who’s …
