According to rumors, Boeing Co.(NYSE: BA) is in discussions to take over aerospace company Embraer of Brazil, one of the world largest makers of commercial jets. The deal value could be north of $4 billion.
Eric Schmidt, the long-time executive chairman of Google parent Alphabet Inc. (NASDAQ: GOOGL) will step down. He was CEO of Google for several years before taking the more ceremonial position. He leaves as one of the richest men in America.
The CEO of Papa John’s International Inc. (NASDAQ: PZZA) will leave after a controversy about his opinions over NFL protest and their effect on his company, a major league sponsor. The company announced the chief executive officer would take over the job:
Papa John’s International, Inc. , the world’s third-largest pizza delivery company, today announced the promotion of Steve Ritchie to Chief Executive Officer, effective January 1, 2018.
Mr. Ritchie, 43, started with Papa John’s in 1996 as a customer service representative at $6 per hour. In 2006, he became a Papa John’s franchise owner and operator, then in 2010 began serving in increasing capacities of leadership in operations until being promoted to Chief Operating Officer in 2014. Ritchie was added to the succession plan for the company’s top job in 2015 when he was named President.
“I am so proud of Steve – he has excelled at every job he’s ever held at Papa John’s – from being an hourly customer service rep, to a delivery driver, store general manager, director of operations, franchisee and most recently President,” said Papa John’s founder, John Schnatter. “With 120,000 Papa John’s corporate and franchise employees, Steve will put the spotlight on our pizza and the most important ingredient – our team members. We couldn’t have a more proven leader to guide Papa John’s through its next stage of growth.”
It is not clear whether Schnatter’s comments about the league cost him his position.
The value of bitcoin dropped by almost a quarter in a day of trading to $13,000, a showcase of how volatile the currency can be.
Apple Inc. (NASDAQ: AAPL) faces lawsuits because it slows the operations of its older iPhone models. According to Bloomberg:
Apple is being sued after it admitted to slowing down older iPhone models to keep them running longer.
On Wednesday, the U.S. technology giant said that it has algorithms in place to help keep an iPhone running at optimal performance if there is an older battery inside that can’t keep up with the required power. The aim is to stop unexpected shutdowns of older iPhones and keep them running to the best possible standard.
However, Stefan Bogdanovich and Dakota Speas brought a class action lawsuit in California — where they are residents — against Apple, an official filing revealed Thursday.