PayPal is replacing CEO Alex Chriss with Enrique Lores, saying that the pace of change and execution at the company has not met board expectations over the past two years. Lores has served as a PayPal board member for almost five years and has been board Chair since July 2024. He’s also spent more than six years as president and CEO of HP Inc.
PURCHASE, NY (AP) – PepsiCo is cutting prices on Lay’s, Doritos, Cheetos and Tostitos chips this year to win back customers exasperated by years of price hikes. “For some consumers, low- and middle-income consumers, the biggest friction they have today in our category… is affordability. So we have been testing multiple ways to give them affordability.”
TOKYO (AP) – Nintendo posted a 51% rise in profit for the first three quarters of the fiscal year as the Japanese video-game maker continued to score success with its revamped Switch machine.
PARIS (AP) – French prosecutors raided the offices of social media platform X on Tuesday as part of a preliminary investigation into allegations including spreading child sexual abuse images and deepfakes. They have also summoned billionaire owner Elon Musk for questioning.
LONDON (AP) – In France, civil servants will ditch Zoom and Teams for a homegrown video conference system. Soldiers in Austria are using open source office software to write reports after the military dropped Microsoft Office. Bureaucrats in a German state have also turned to free software for their administrative work.
BEIJING (AP) – Even as China’s expansion of solar and wind power raced ahead in 2025, the Asian giant opened many more coal power plants than it had in recent years – raising concern about whether the world’s largest emitter will reduce carbon emissions enough to limit climate change.
HONG KONG (AP) – China will ban hidden door handles on cars, commonly used on Tesla’s electric vehicles and many other EV models, starting next year. All car doors must include a mechanical release function for handles, except for the tailgate, according to details released by China’s Ministry of Industry and Information Technology on Monday.
Disney posted a strong first quarter, powered by box-office hits “Zootopia 2” and “Avatar: Fire and Ash.” But the entertainment giant cautioned that in the second quarter its Experiences division, which includes its theme parks, will likely see modest operating income growth due in part to a decline in visits from international tourists to the U.S.
MADRID (AP) – Spain set a new tourism record in 2025 when it welcomed 96.8 million foreign visitors. The number of international visitors increased 3.2% compared to 2024, when there were 94 million tourists. Spain is one of the world’s most popular destinations, where tourism accounts for 12.6% of gross domestic product.
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