Connect with us
DAPA Banner

Business

Coca-Cola, Walmart outgoing CEOs cite AI in decisions to step down

Published

on

Coca-Cola, Walmart outgoing CEOs cite AI in decisions to step down
Coca-Cola CEO James Quincey: It was time for someone else to lead the next wave of growth

Two major CEOs told CNBC in recent months that the rise of artificial intelligence contributed to their decisions to hand over the reins and step down from their positions.

It’s one of the latest insights into how America’s corporate leaders are sizing up the AI transition.

Coca-Cola CEO James Quincey told CNBC’s “Squawk Box” on Thursday that his decision to step down from his role was influenced by larger “waves of the organizational momentum.”

“My job is also to think who’s the best team to put on the field to get the next wave done,” Quincey said. “And I concluded that, actually, it was time to put someone else on the field for the next wave of growth.”

Advertisement

Quincey, who has served as CEO of the beverage giant since 2017, will be succeeded by current COO Henrique Braun, effective at the end of this month.

“In a pre-AI, a pre-gen-AI mode, we made a lot of progress. But now there’s a huge new shift coming along,” Quincey said.

While he said he’s leaning into the technological advances, he believes the beverage company needs “someone with the energy to pursue a completely new transformation of the enterprise.”

That person, Quincey said, is Braun, who he believes will uniquely equip the company to embrace its next chapter.

Advertisement

Quincey’s comments echo sentiments from former Walmart CEO Douglas McMillon in December ahead of his departure from that role.

Walmart CEO Doug McMillon on tenure: You can't get growth without change

McMillon, who had held the position as CEO of the global retailer since 2014, told CNBC’s “Squawk Box” at the time that he had decided to hand over the role to someone “faster.” John Furner, who was previously head of Walmart U.S., took over the top job on Feb. 1.

“With what’s happening with AI, I could start this next big set of transformations with AI, but I couldn’t finish,” McMillon told CNBC.

“About a year ago, I really started feeling like this next run, you could see what agentic commerce was gonna look like, the vision for AI shopping, and I started thinking about everything that needs to happen over the next few years, and it really caused me to think that now was the right time [to step down],” he said.

Walmart in December made the move to list on the Nasdaq, something McMillon said was symbolic of the progress the company has made with technology.

Advertisement

The retailer has been incorporating AI to optimize its supply chain, provide assistants for customers and more.

“I think what you’re going to see from the Walmart team is they’re just going to keep scaling what we’ve already started, build some new stuff on top, and then use AI to transform it all,” he said.

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

DoorDash rolls out new ad tools to help restaurants target high-value customers

Published

on

DoorDash rolls out new ad tools to help restaurants target high-value customers

DoorDash is rolling out new advertising features to help restaurants find customers who are more likely to order from them, bring in new diners and expand their business more efficiently.

In a news release shared by the company on Thursday, three new tools have been added to the online food ordering/delivery platform to help restaurants quickly gain regular customers

Advertisement

“Restaurant brands want to reach customers who will genuinely enjoy their food and hospitality and keep coming back over time,” Vassili Samolis, VP of ad products & AI foundations at DoorDash, said in the release. 

“We built these tools to help restaurants connect with the right audience and better understand which menu items, promotions and experiences are driving results so they can make smarter decisions, invest with confidence and grow their business on DoorDash.”

‘DOORDASH GRANDMA’ PRAISES TRUMP TAX BREAK AFTER 11K SAVINGS AMID HUSBAND’S CANCER FIGHT

doordash logo

DoorDash has launched three new tools on its app to better help restaurants target customers. (Thiago Prudencio/SOPA Images/LightRocket via Getty Images / Getty Images)

One of the tools is called Brand Interest Targeting, which allows restaurants to show ads to people who already like similar food or brands. 

Advertisement

In tests, ads using this feature performed better, bringing in over 14% more return on ad spend compared to ads without targeting, according to the news release.

DoorDash also introduced the Brand Sales Growth tool that shows how a restaurant’s sales are growing compared to similar businesses. It specifically looks at trends from the past three months and helps restaurants understand whether their ads are actually helping them grow.

The platform has additionally introduced Average Ticket Sizing Reporting, allowing restaurants to target customers based on how much they usually spend.

GRUBHUB LAUNCHES FIRST-EVER COMMERCIAL DRONE FOOD DELIVERY SERVICE IN NEW JERSEY

Advertisement
DoorDash

The new DoorDash features for restaurants include the Brand Interest Targeting, Brand Sales Growth and Average Ticket Sizing Reporting tools. (Michael Nagle/Bloomberg via Getty Images / Getty Images)

For example, a restaurant can focus on customers who tend to place bigger, higher-value orders — not just more orders.

GET FOX BUSINESS ON THE GO

The news release reported that, in early tests, targeting high-spending customers increased order size by over 35% and delivered much better returns compared to untargeted ads.

Taken together, the tools signal a shift toward more data-driven competition on the platform, where success may depend less on broad visibility and more on how precisely restaurants can target the right customer.

Advertisement
Continue Reading

Business

Energy Shocks and Uncertainty Hamper Growth in East Asia and the Pacific

Published

on

Thailand Braces for Economic Ripples as Middle East Conflict Escalates

The World Bank Group’s EAP Economic Update, released today, reports that economic growth in the East Asia and Pacific (EAP) region is projected to slow in 2026 due to external shocks.

Key points

  • 📉 Regional slowdown: Growth in East Asia and Pacific is projected to fall from 5.0% in 2025 to 4.2% in 2026, mainly due to energy shocks from the Middle East conflict, trade barriers, and global uncertainty.
  • 🇨🇳 China’s deceleration: China’s growth is expected to drop from 5.0% in 2025 to 4.2% in 2026 and 4.3% in 2027, with weak domestic demand and property sector challenges weighing heavily.
  • 🌏 Rest of the region: Growth outside China will slow to 4.1% in 2026 but could rebound to 5.0% in 2027 if geopolitical tensions ease.
  • Energy shock impact: Countries more dependent on energy imports face greater risks. A sustained 50% rise in fuel prices could cut household incomes by 3–4%.

Regional growth is projected to slow to 4.2% in 2026 from 5.0% in 2025, as the energy shock due to the Middle East conflict compounds the adverse impact of elevated trade barriers, global policy uncertainty, and domestic economic difficulties.

China’s economic growth to slow from 5.0% in 2025 to 4.2% in 2026.

Growth in China, the region’s largest economy, is projected to decelerate from 5.0% in 2025 to 4.2% in 2026 and 4.3% in 2027, as weak domestic demand and property sector challenges persist, and the global slowdown dampens export growth. Growth in the rest of the region will slow to 4.1% in 2026 and is projected to rebound to 5.0% in 2027 as geopolitical tensions ease and uncertainty diminishes.

Growth in East Asia and Pacific continues to outperform much of the world, even in uncertain times,” said Carlos Felipe Jaramillo, World Bank Vice President for East Asia and Pacific. “Yet, sustaining growth levels requires countries to confront structural challenges and seize the opportunity of the digital age to increase productivity and create more jobs.”

Rising fuel prices may lower regional household incomes

The impact of the Middle East conflict depends on each country’s reliance on energy imports, existing vulnerabilities, and economic policy flexibility. Prolonged and intensified conflict may further increase economic distress and reduce regional growth. A sustained 50 % increase in fuel prices could lead to a 3-4% loss in income for households in the region. Targeted support—for both the poor and the vulnerable and the small and medium enterprises—can help those most in need without fiscal strain.

Advertisement

The region’s past resilience is remarkable, but present difficulties could increase economic distress and  inhibit productivity growth,” said Aaditya Mattoo, World Bank Group Director of Research.

Measured support for people and firms could preserve jobs today and reviving stalled structural reforms could unleash growth tomorrow.

The report identifies surging AI-related exports and investment as a bright spot in 2025, especially in Malaysia, Thailand, and Viet Nam. AI could also lead to higher productivity growth, but adoption in EAP remains limited because of gaps in connectivity and skills. Only 13 to 17% of multinational subsidiaries in China and Thailand currently use AI, which is one third of the proportion in industrial countries.

Source : Energy Shock and Uncertainty Slow Growth in East Asia and Pacific

Advertisement
Continue Reading

Business

Acting US ICE head Todd Lyons to leave agency at end of May

Published

on

Acting US ICE head Todd Lyons to leave agency at end of May


Acting US ICE head Todd Lyons to leave agency at end of May

Continue Reading

Business

Logistics firms enter last mile for IPO delivery, rev up for Rs 9,000 crore issues

Published

on

Logistics firms enter last mile for IPO delivery, rev up for Rs 9,000 crore issues
India’s logistics sector is heading into a fresh IPO cycle, with a clutch of companies lining up to tap the primary markets amid improving demand visibility and a supportive policy backdrop.

Skyways Air Services, CJ Darcl Logistics, Leap India, Caliber Mining & Logistics, Shiprocket, Horizon Industrial Parks and Yatayat Corporation India Ltd have filed draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (Sebi).

Together, these firms are expected to raise roughly ₹8,000-9,000 crore over the next few quarters.

Logistics Firms Enter the Last Mile for IPO DeliveryET Bureau

Investor Confidence Rises in Sector’s Structural Growth

Horizon Industrial Parks is likely to anchor the fundraising wave with a planned issue size of around ₹2,600 crore, followed by Leap India Ltd and Shiprocket that are planning to raise around ₹2,400 crore each, while Skyways Air Services, CJ Darcl Logistics and Yatayat Corporation India are expected to launch mid-sized offerings.

Advertisement


The upcoming logistics IPO pipeline reflects increasing confidence in the sector’s structural growth story, said Dharmesh Mehta, managing director & CEO — DAM Capital Advisors.
“Achieving India’s projected growth trajectory will be difficult without a meaningful scale up of the logistics eco system, which in turn requires access to growth capital,” he said.Skyways Air Services, CJ Darcl Logistics, Leap India, Caliber Mining & Logistics and Shiprocket have already received regulatory approval to launch their IPOs.

The rush to public markets comes at a time when logistics companies are expanding capacity to cater to rising demand from e-commerce, manufacturing and infrastructure sectors.

Logistics Firms Enter the Last Mile for IPO Delivery
“Demand visibility has improved significantly over the past few quarters, driven by strong consumption trends and industrial activity,” said Deep Shah, a senior manager at Unistone Capital Pvt Ltd, a merchant banking firm. “Companies are now looking to strengthen their balance sheets and fund expansion through public capital. At the same time, global geopolitical tensions and disruptions in key trade routes have added complexity to supply chains.”

Higher freight and insurance costs, along with volatility in fuel prices, have forced companies to recalibrate pricing strategies and optimize operations, said Shah.

The valuation benchmark that looms over the current pipeline is Delhivery, which raised ₹5,235 crore in its May 2022 IPO but spent nearly two years trading below its issue price before recovering. That experience may prompt institutional investors to be choosy.

Advertisement

“The market has a longer memory now,” said Dev Chandrasekhar, partner at Transcendum, a valuations branding advisory. “Logistics remains a great sector, but pricing needs to reflect the capital intensity honestly.”

Continue Reading

Business

NRW books $160m suite of contracts

Published

on

NRW books $160m suite of contracts

NRW subsidiary Fredon has secured five electrical and mechanical contracts, valued at around $160 million.

Continue Reading

Business

Is Bluesky Down Now? Many Users Experiencing Regional Outage as Platform Investigates

Published

on

Bluesky

SAN FRANCISCO — Bluesky experienced a partial outage Thursday, with users across multiple regions reporting difficulties accessing feeds, loading posts and connecting to the decentralized social media platform as its official status page confirmed an ongoing incident.

Bluesky
Bluesky

Bluesky’s status page updated at 06:42 GMT that it was investigating a service disruption in one of its regions, noting that some systems were down while engineers implemented fixes and continued monitoring. The company reported early signs of recovery later in the morning but acknowledged that many users and services remained impacted as of mid-morning Pacific Time.

Downdetector and other outage trackers showed elevated user reports beginning around 2:39 a.m. EDT, with complaints centered on inaccessible feeds, slow loading and blank timelines. While not a full platform-wide failure, the issues affected a significant portion of users, prompting widespread discussion on alternative platforms including X and Threads.

Bluesky, the Jack Dorsey-backed decentralized social network built on the AT Protocol, has grown rapidly as an alternative to legacy social media. The platform emphasizes user-controlled data and federation, but Thursday’s incident highlighted ongoing challenges in scaling infrastructure amid surging adoption.

Company engineers had previously published a detailed post-mortem on an earlier April 2026 outage that occurred earlier in the month, which affected roughly half of users for about eight hours. That incident, detailed by systems engineer Jim Calabro on April 10, stemmed from a combination of ephemeral port exhaustion on backend TCP/IP connections and memory saturation triggered by a new internal service that unexpectedly sent large batches of requests.

Advertisement

The earlier outage prompted apologies from the team and underscored the complexities of operating a distributed system even with decentralized principles. Thursday’s regional disruption appeared separate but added to user frustration with reliability as the platform competes for attention in a crowded social media landscape.

Users reported a range of symptoms: some could not refresh their timelines, others saw error messages when trying to post or interact, and a subset experienced complete inability to load the app or website. The issues seemed concentrated in certain geographic regions or tied to specific backend services, consistent with the status page’s acknowledgment of a regional incident.

Bluesky’s decentralized architecture, which allows users to run their own servers or connect across federated instances, did not fully shield the platform from centralized points of failure in its core services. Critics noted that while the protocol aims for resilience, many users still rely on Bluesky’s hosted infrastructure for the primary experience.

The timing of the outage coincided with heightened global interest in alternative social platforms, as users seek spaces less influenced by traditional algorithms and moderation controversies. Bluesky has positioned itself as a more open and community-driven option, attracting millions of users fleeing other networks.

Advertisement

Platform representatives have not yet issued a full public statement beyond the status updates, but the team has a track record of transparent communication during incidents. The earlier April outage post-mortem was praised in technical communities for its candor, detailing root causes including unexpected request patterns from a recently deployed service that overwhelmed available network ports.

Technical observers pointed to classic scaling challenges: even small changes in request volume or batching behavior can cascade into widespread saturation when systems operate near capacity. In the prior incident, a service sending batches of 15,000-20,000 URIs at once — despite low overall requests per second — exhausted the 65,000 available ephemeral ports on localhost connections, leaving them in TIME_WAIT status and blocking new connections.

Engineers mitigated the earlier problem temporarily by randomizing localhost addresses to expand the effective port pool, then addressed the root cause. Thursday’s regional issue may stem from similar infrastructure strain, though details remain under investigation.

For affected users, common troubleshooting steps include refreshing the app or browser, clearing cache, checking internet connectivity, or trying the web version if the mobile app fails. Some reported success by switching to Wi-Fi from cellular data or vice versa, suggesting possible edge network or CDN involvement.

Advertisement

Bluesky’s rapid growth has tested its engineering team repeatedly in 2026. The platform, which allows custom feeds and algorithmic choice, has seen user numbers climb as it differentiates from more centralized competitors. However, outages — even partial or regional — can erode trust, especially among users who migrated seeking greater stability or freedom.

The incident drew immediate reactions online, with users sharing screenshots of error messages and speculating on causes ranging from DDoS attempts to routine maintenance gone awry. Many turned to X to vent or ask if others were experiencing the same problems, creating a secondary wave of meta-discussion about platform reliability.

Bluesky’s uptime over the past 90 days stood at approximately 99.98 percent before Thursday’s event, according to its status dashboard, indicating generally strong performance punctuated by occasional disruptions. The company has invested in redundancy and monitoring, yet the decentralized model introduces unique operational complexities compared to traditional monolithic services.

As the day progressed, the status page indicated progress with fixes deployed and recovery underway. Users were advised to remain patient while monitoring official channels for updates. No estimated full resolution time was provided initially, though early signs suggested the impact was easing for some regions.

Advertisement

This marks the latest in a series of visibility challenges for Bluesky in April 2026. The earlier multi-hour outage generated significant discussion in developer communities, with Hacker News threads analyzing the technical details and praising the transparency of the post-mortem.

Industry analysts note that social platforms of all sizes face increasing scrutiny over uptime as users depend on them for real-time news, community engagement and professional networking. Even brief disruptions can amplify perceptions of unreliability, particularly for newer entrants challenging established players.

Bluesky continues to iterate on features, including enhanced moderation tools, custom feed algorithms and improved federation capabilities. The team has emphasized building a more resilient infrastructure to support long-term growth without compromising the decentralized ethos.

For now, affected users can check the official status page at status.bsky.app for the latest updates or follow Bluesky’s account for announcements. The company typically provides post-incident summaries to help the community understand and learn from events.

Advertisement

As social media usage evolves toward more distributed models, incidents like Thursday’s serve as reminders that technical challenges persist regardless of architecture. Bluesky’s response — combining rapid fixes with eventual transparent reporting — will likely shape user sentiment in the coming days.

The platform’s leadership has previously stressed a commitment to reliability as a core value, especially as it positions itself as a viable long-term alternative. Whether Thursday’s regional outage resolves quickly and without further recurrence could influence ongoing migration trends among disillusioned users from other networks.

As of late morning on April 16, partial recovery was underway, but full service restoration for all users remained in progress. The incident, while not catastrophic, underscores the delicate balance required to scale innovative social technologies amid growing demand.

Advertisement
Continue Reading

Business

Global Markets: Asian stocks dip as traders await ceasefire news

Published

on

Global Markets: Asian stocks dip as traders await ceasefire news
Asian stocks fell as investors lightened their positions ahead of the weekend while awaiting progress on extending the US-Iran ceasefire, after a rally driven by expectations the truce would be prolonged.

The MSCI Asia Pacific Index dropped 0.4%, snapping a three-day rally. The cautious end to the week followed a 10-day rally in global equities that pushed markets to a record high, as traders bet easing tensions will lower oil prices and support economic growth. Wall Street gauges also closed at an all-time high for a second consecutive day.

Global crude benchmark Brent slipped 1.3% to $98.14 a barrel after President Donald Trump expressed optimism about securing a permanent ceasefire with Iran ahead of the expiry of the current truce next week. Gold edged higher, while Treasuries were little changed

Investors are awaiting progress in talks that could reopen the Strait of Hormuz, easing crude flows and relieving pressure on economies after oil prices surged following the conflict’s onset in late February. While oil has pared its war-driven premium and stocks have climbed to record highs, economists are warning that markets may be underestimating the war’s economic toll.

Advertisement

“Markets head into the final session of the week sitting at key technical and psychological levels, with conviction still lacking as traders wait for clearer signals out of the Middle East,” Nick Twidale, chief market analyst at AT Global Markets, wrote in a note.


Trump claimed, without evidence, that Iran had agreed to terms it has long resisted, including giving up ambitions for a nuclear weapon and turning over nuclear material. The deal would also include “free oil” and an opening of the Strait of Hormuz, the President said. Tehran hasn’t confirmed it’s made those concessions.
The prospects for a deal with Iran are “looking very good.” Trump said.Earlier, Trump announced a 10-day ceasefire between Israel and Lebanon. His announcement on Thursday made no mention of Hezbollah. Israeli Prime Minister Benjamin Netanyahu confirmed in a video message that he’d agreed to the truce.

Traders are also focused on the dollar, which has weakened after rallying on haven demand since the war began in late February. Deutsche Bank AG and Wells Fargo & Co. are among banks declaring the greenback’s war-driven haven rally is likely over as the fragile ceasefire between the US and Iran prompts investors to seek riskier assets.

Elsewhere, Netflix Inc. slid in after-hours trading after issuing a second-quarter forecast that missed analysts’ expectations. US equity-index futures were mixed with contracts for the S&P 500 Index edging up 0.1%, while contracts for the Nasdaq 100 was flat.

US stocks were buoyed by cooler-than-expected US producer and import prices this week, and got another lift after initial jobless claims for the week ending April 11 came in below economist forecasts.

Advertisement

“This is yet another sign of headline fatigue as it relates to the war in the Gulf region,” said Ian Lyngen at BMO. “The prevailing consolidation pattern is also suggestive that the influence of fresh geopolitical headlines is waning.”

Continue Reading

Business

Celtic pursues Pyramid for $4m over troubled Subiaco apartment

Published

on

Celtic pursues Pyramid for $4m over troubled Subiaco apartment

The property developer behind the 82-apartment Halcyon development in Subiaco is pursuing the construction company tasked with building it for $3.8 million in allegedly unpaid loans, among other issues.

Continue Reading

Business

IMF, World Bank say they are resuming dealings with Venezuela

Published

on

IMF, World Bank say they are resuming dealings with Venezuela


IMF, World Bank say they are resuming dealings with Venezuela

Continue Reading

Business

New Pastoralist and Graziers boss Digby Stretch lays out policy, reform agendas

Published

on

New Pastoralist and Graziers boss Digby Stretch lays out policy, reform agendas

The new agriculture lobby leader is balancing an overhaul of the organisation and a sweeping policy agenda.

Continue Reading

Trending

Copyright © 2025