Bitcoin continues to rise, and is showing zero signs of slowing. The cryptocurrency passed $16 thousand dollars on Thursday morning, hitting new all-time highs. The theory for this immediate run is that institutional money from big banks is being priced into the digital currency.
Plus, Walmart says that increased online purchases are causing delays in its distribution network. The world's largest retailer admitting that orders were not processed as promptly as anticipated.
Disney CEO Bob Iger may be sticking around, again. According to reports, Disney's Chief Executive will extend his reign through 2019, if the sale of 21st Century Fox is finalized.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
