Square Inc. Chief Executive Officer Jack Dorsey said on Friday the fintech firm is looking to build a bitcoin mining system based on custom silicon and open source for individuals as well as businesses. This would add to Square’s existing bitcoin-focused projects including a business to build an open developer platform, as well as a…
Square CEO Dorsey Says Looking to Build a Bitcoin Mining System: Tweet
Southwest CEO: Vaccine Mandates Weren’t Behind Flight Cancelations, Suggests ‘Absenteeism’ Is the Cause
The CEO of Southwest on Tuesday denied claims that the federal vaccine mandates were the cause of more than 2,000 flight cancelations in recent days. During an appearance on CNBC, CEO Gary Kelly was asked about President Joe Biden’s announcement that will mandate companies with federal contracts to require their staff to get the vaccine and…
Kraft Heinz CEO Warns Shoppers: ‘Get Used to Paying More for Food’ Over Inflation
The CEO of Kraft Heinz, Miguel Patricio, warned that around the world and in the United States, people will have to get used to higher food prices due to “across the board” inflation. “We are raising prices, where necessary, around the world,” he told the BBC, adding that his firm has increased prices on more than…
Hertz Tabs Former Ford Chief Executive Mark Fields as Interim CEO
Hertz Corp. has named former Ford Motor Co. Chief Executive Mark Fields as its interim CEO, the rental car company said on Tuesday. Fields succeeded Alan Mulally as president and CEO of the No. 2 U.S. automaker in 2014. He was ousted in 2017 and replaced by Jim Hackett. Hertz Corp., a subsidiary of Hertz…
Audi CEO Sees Chip Shortage as ‘Perfect Storm’ but Will Get Through It
FRANKFURT—Premium car brand Audi, Volkswagen’s biggest profit contributor, has to troubleshoot on a day-to-day basis to tackle an ongoing shortage of auto chips, its chief executive said. “We had a very strong first half in 2021. We do expect a much weaker second half. We really have trouble,” Markus Duesmann told Reuters ahead of the…
United Airlines CEO Says Vaccine Mandate Won’t Affect Operations
CHICAGO—United Airlines Chief Executive Scott Kirby said on Wednesday the company’s decision to fire employees who defied its vaccine mandate will not affect the carrier’s operations. In an interview to CNBC, Kirby also said ticket sales have bottomed out, with the bookings for lucrative business travel rebounding to the levels seen in June. The comments…
Google CEO Sought to Keep Incognito Mode Issues out of Spotlight, Lawsuit Alleges
Google Chief Executive Sundar Pichai in 2019 was warned that describing the company’s Incognito browsing mode as “private” was problematic, yet it stayed the course because he did not want the feature “under the spotlight,” according to a new court filing. Google spokesman José Castañeda told Reuters that the filing “mischaracterizes emails referencing unrelated second…
Norway Sovereign Wealth Fund Backs FedEx CEO Pay
OSLO—Norway’s $1.4 trillion sovereign wealth fund, the world’s largest, said on Wednesday it will support FedEx CEO Fred Smith’s $54 million pay package at a meeting of the logistics company’s shareholders next week. The pay of the billionaire chief executive has been challenged by a labour union over the company’s decision to cancel a bonus…
SoftBank CEO Son Says Smart Robots Can Revitalise Japan Growth, Competitiveness
TOKYO—SoftBank Group Corp Chief Executive Masayoshi Son on Wednesday said so-called smart robots can revitalise Japan’s economy and competitiveness, doubling down on robotics just as the company’s much-hyped “Pepper” robot prepares to bow out. Son, at the online SoftBank World 2021 conference, said the firm’s Vision Fund is involved with 18 companies developing machines enhanced…
Takeda Eyes Vaccine Business Growth as Dengue, COVID-19 Shots Progress: CEO
TOKYO—Takeda Pharmaceutical Co., which distributes Moderna Inc.’s COVID-19 shots in Japan, expects vaccines to become a bigger part of its portfolio as shots for dengue fever and COVID-19 near regulatory approval, its chief executive said. Takeda, Japan’s biggest drugmaker and among the top 10 globally after its 2019 takeover of Shire Plc, has traditionally been…
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