Watch: Marriott CEO Arne Sorenson, CVS Health’s Larry Merlo discuss health care innovation

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CEOs of top companies, government leaders, and industry experts are set to meet at the Business Roundtable CEO Innovation Summit this Thursday to discuss a national innovation agenda to ensure that the United States remains a global leader in innovation across all industry sectors.

More than 200 retailers, banks, and technology companies are expected to attend. Among those slated to take part in discussions are Jamie Dimon, chairman and CEO of JP Morgan Chase, Doug McMillon, president and CEO of Walmart, and Virginia M. Rometty, chairman, president, and CEO of IBM.

These companies will release new recommendations for national privacy legislation which will ask the United States to adopt a national privacy law, specifically one that would apply the same data collection requirements all companies. This legislation will also increase both staffing and funding to enforce this new rule and provides consumers with more control of their data.

In addition to those mentioned above and others, Ivanka Trump, daughter of President Donald Trump and advisor to the president is expected to attend. She is scheduled to speak with Jamie Dimon while attending the event.

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Watch: Ivanka Trump, Walmart CEO Doug McMillon and IBM CEO Ginni Rometty speak at Business Roundtable summit

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Ivanka Trump is slated to speak with Jamie Dimon, chairman and CEO of JP Morgan Chase, on Thursday at the Business Roundtable CEO Innovation Summit.

The lobbying group is looking to influence policy during the second half of President Donald Trump’s term. Under Dimon, the Roundtable has tried to attain more influence in Washington as a whole, and has pushed for Trump’s package of tax reductions. Dimon also plans to help lead efforts to navigate growing tensions between the CEOs and Trump’s tariff-centered approach to trade, as well as immigration issues and company layoffs.

Arne Sorenson, president and CEO of Marriott; Larry Merlo, president and CEO of CVS; and Randall Stephenson, chairman and CEO of AT&T are also expected to attend, among others.

Company leaders and government officials alike are also expected to discuss a national innovation agenda to ensure that the United States remains a global leader as well as national privacy legislation which will ask the United States to adopt a national privacy law, that would provide consumers with more control of their data.

[“source=cnbc”]

Walmart CEO worries what consumers will have to pay if trade war escalates

Walmart CEO Doug McMillon on the future of the retail industry

Walmart CEO Doug McMillon on the future of the retail industry   5 Hours Ago | 08:36

Walmart is doing its best to keep prices unaffected by the U.S.-China trade war, but if things escalate it could be a different story, CEO Doug McMillon said Thursday.

“We worry about next spring, next summer, next fall what customers will have to pay if tariffs do escalate,” McMillon said in an interview with CNBC’s Becky Quick on “Closing Bell.”

Walmart is among the retailers that have been sounding the alarm on the back-and-forth tariffs between the United States and China and their impact on pricing. In September, Walmart sent a letter to U.S. Trade Representative Robert Lighthizer warning that it may have to hike prices.

On Saturday, President Donald Trump and Chinese President Xi Jinping struck a 90-day truce on any further tariffs.

However, on Thursday, trade fears were renewed after it was revealed the CFO of Chinese tech firm Huawei was arrested in Canada on Saturday. Meng Wanzhou is now facing extradition to the U.S., reportedly for violating U.S. sanctions on Iran.

McMillon said the uncertainty in pricing is leading Walmart to start thinking about where it wants to get its goods from. China is its second-largest source of goods, behind the U.S.

So far, Walmart has been able to manage with the current tariffs in place.

“We try to go up as little as we can and as late as we can for customers, but there are some categories where over time this will show up,” McMillon said.

[“source=cnbc”]

CEO of world’s largest restaurant company talks chasing growth with e-commerce technology

Yum CEO on chasing growth with e-commerce technology

Yum CEO on chasing growth with e-commerce technology   4 Hours Ago | 00:54

An unusual motif was strung throughout Wednesday’s Investor Day presentations at Yum Brands, the parent company of Pizza Hut, KFC and Taco Bell and the world’s biggest restaurant operator: “Proud, but dissatisfied.”

A 45,000-restaurant operation spread across 140 countries, Yum Brands has seen its properties gain momentum globally in recent years, culminating in the 2016 spin-off of Yum China. Its brands have gained popularity for their distinct messaging as well as high-profile partnerships with organizations like the National Football League.

But CEO Greg Creed, who sat down with CNBC’s Jim Cramer for an exclusive interview on “Mad Money,” still thinks the Louisville, Kentucky-based operation can do more.

“We have three global, iconic brands. We have incredible scale. We have this global diversity,” he said. “We’re proud of the brands, but we’re dissatisfied because we can get more growth.”

To do that, Yum’s management is using a three-word motto, not dissimilar to some of its brands’ catchier slogans, to promote its ideals: RED, short for “relevant, easy and distinct.”

Creed said that KFC, with its well-known mascot, red-and-white-striped buckets and “finger-lickin’ good” catchphrase, embodies distinction; Pizza Hut, with its newly lowered prices and focus on delivery, is growing in relevance; and Taco Bell sits at the cornerstone of “relevance and distinctiveness.”

But, he told Cramer, “we’re dissatisfied because not every brand is purely great at RED, and I think we can make some improvements.”

Those include getting rid of ingredients like artificial colors and flavors and trans fats; rolling out kiosks at every Taco Bell in the United States by the end of 2019; and Pizza Hut’s newly announced acquisition of QuikOrder, an online ordering platform that will help the chain close the gap with tech-savvy competitors like Domino’s.

While KFC and Taco Bell have seen notable growth in recent quarters — with KFC posting 14 straight quarters of same-store sales growth — Pizza Hut has remained a challenge for the company as the brand has struggled to attract new customers and take market share from its rivals.

“Look, I think that it’s fair to say that Pizza Hut is as easy to access as our competitors. We’ve just got to make it more distinctive,” Creed said. “We now own that e-commerce engine that’s going to drive between two and a half and three billion dollars’ worth of work. We’ve bought it in-house. We’ve got 75 incredibly talented people now joining Yum. We think we can unleash that power.”

But the QuikOrder purchase — made for a yet-undisclosed amount — is more of a foray into e-commerce technology than it is a snub to delivery giant GrubHub, in which Yum has a roughly $200 million stake.

“We love our GrubHub relationship. We think it’s a great for GrubHub and it’s great for Yum and our brands,” Creed said. “GrubHub was all about delivery. QuikOrder was all about an e-commerce platform.”

Shares of Yum Brands managed to withstand the stock market’s Thursday sell-off, rising 0.9 percent to $91.50 a share.

[“source=cnbc”]

US is well on its way to Trump’s goal of ‘energy dominance,’ says Marathon Petroleum CEO

US on its way to Trump's goal of 'energy dominance,' says Marathon CEO

US on its way to Trump’s goal of ‘energy dominance,’ says Marathon CEO   13 Hours Ago | 01:26

President Donald Trump’s goal of making the United States a global superpower in energy is starting to come true, Marathon Petroleum Corp. Chairman and CEO Gary Heminger told CNBC on Tuesday.

“When I look at the president’s theme to begin with and the beginning of his administration, he wanted to have energy dominance in the U.S. and I believe that we are well on our way,” Heminger told Jim Cramer in an exclusive “Mad Money” interview. “We’re the largest producer in the world today.”

Recent declines in oil prices haven’t stopped U.S. producers from pumping more oil ahead of OPEC’s meetings later this week, at which the group of oil-exporting countries are expected to cut production.

That puts the United States in a league above its competitors, said the Marathon chief, whose Ohio-based company specializes in petroleum refining, marketing and transportation.

“The U.S. refining system [is] second to none of anyone in the industry, so I believe we’re well on our way now” to global energy dominance, Heminger said.

The CEO added that he expected OPEC’s meetings in Vienna, Austria this Thursday and Friday to result in “a pullback in OPEC production,” in which case “we’ll see crude prices inch up” from their current levels.

And although oil’s recent pummeling has benefited business at Marathon — where oil is part of Marathon’s cost of goods sold, so price declines translate into higher margins — Heminger said the company sees prices for the benchmark West Texas Intermediate crude rising significantly in 2019.

“We really believe the price is probably going to end up being … $65 to [$]70 in 2019, on an average,” he said. “I believe we’ve averaged almost $65 — about [$]64.50 — year to date in 2018, so we think we’re being conservative looking at that number for next year.”

WTI crude futures fell 0.64 percent on Tuesday to $52.61. Year to date, the commodity has lost 8.77 percent.

Shares of Marathon Petroleum shed 2 percent amid Tuesday’s marketwide meltdown, settling at $63.34.

[“source=cnbc”]

US is well on its way to Trump’s goal of ‘energy dominance,’ says Marathon Petroleum CEO

US on its way to Trump's goal of 'energy dominance,' says Marathon CEO

US on its way to Trump’s goal of ‘energy dominance,’ says Marathon CEO   13 Hours Ago | 01:26

President Donald Trump’s goal of making the United States a global superpower in energy is starting to come true, Marathon Petroleum Corp. Chairman and CEO Gary Heminger told CNBC on Tuesday.

“When I look at the president’s theme to begin with and the beginning of his administration, he wanted to have energy dominance in the U.S. and I believe that we are well on our way,” Heminger told Jim Cramer in an exclusive “Mad Money” interview. “We’re the largest producer in the world today.”

Recent declines in oil prices haven’t stopped U.S. producers from pumping more oil ahead of OPEC’s meetings later this week, at which the group of oil-exporting countries are expected to cut production.

That puts the United States in a league above its competitors, said the Marathon chief, whose Ohio-based company specializes in petroleum refining, marketing and transportation.

“The U.S. refining system [is] second to none of anyone in the industry, so I believe we’re well on our way now” to global energy dominance, Heminger said.

The CEO added that he expected OPEC’s meetings in Vienna, Austria this Thursday and Friday to result in “a pullback in OPEC production,” in which case “we’ll see crude prices inch up” from their current levels.

And although oil’s recent pummeling has benefited business at Marathon — where oil is part of Marathon’s cost of goods sold, so price declines translate into higher margins — Heminger said the company sees prices for the benchmark West Texas Intermediate crude rising significantly in 2019.

“We really believe the price is probably going to end up being … $65 to [$]70 in 2019, on an average,” he said. “I believe we’ve averaged almost $65 — about [$]64.50 — year to date in 2018, so we think we’re being conservative looking at that number for next year.”

WTI crude futures fell 0.64 percent on Tuesday to $52.61. Year to date, the commodity has lost 8.77 percent.

Shares of Marathon Petroleum shed 2 percent amid Tuesday’s marketwide meltdown, settling at $63.34.

[“source=cnbc”]

US is well on its way to Trump’s goal of ‘energy dominance,’ says Marathon Petroleum CEO

US on its way to Trump's goal of 'energy dominance,' says Marathon CEO

US on its way to Trump’s goal of ‘energy dominance,’ says Marathon CEO   13 Hours Ago | 01:26

President Donald Trump’s goal of making the United States a global superpower in energy is starting to come true, Marathon Petroleum Corp. Chairman and CEO Gary Heminger told CNBC on Tuesday.

“When I look at the president’s theme to begin with and the beginning of his administration, he wanted to have energy dominance in the U.S. and I believe that we are well on our way,” Heminger told Jim Cramer in an exclusive “Mad Money” interview. “We’re the largest producer in the world today.”

Recent declines in oil prices haven’t stopped U.S. producers from pumping more oil ahead of OPEC’s meetings later this week, at which the group of oil-exporting countries are expected to cut production.

That puts the United States in a league above its competitors, said the Marathon chief, whose Ohio-based company specializes in petroleum refining, marketing and transportation.

“The U.S. refining system [is] second to none of anyone in the industry, so I believe we’re well on our way now” to global energy dominance, Heminger said.

The CEO added that he expected OPEC’s meetings in Vienna, Austria this Thursday and Friday to result in “a pullback in OPEC production,” in which case “we’ll see crude prices inch up” from their current levels.

And although oil’s recent pummeling has benefited business at Marathon — where oil is part of Marathon’s cost of goods sold, so price declines translate into higher margins — Heminger said the company sees prices for the benchmark West Texas Intermediate crude rising significantly in 2019.

“We really believe the price is probably going to end up being … $65 to [$]70 in 2019, on an average,” he said. “I believe we’ve averaged almost $65 — about [$]64.50 — year to date in 2018, so we think we’re being conservative looking at that number for next year.”

WTI crude futures fell 0.64 percent on Tuesday to $52.61. Year to date, the commodity has lost 8.77 percent.

Shares of Marathon Petroleum shed 2 percent amid Tuesday’s marketwide meltdown, settling at $63.34.

[“source=cnbc”]