In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
Minutes from the Reserve Bank of Australia's monetary policy meeting in July showed the central bank was ready to adjust interest rates if required.Asia Marketsread more
The findings by McKinsey and Company come amid a year-long tariff fight between the U.S. and China, which has spilled into areas such as technology and security.China Economyread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Beto O'Rourke's campaign for the 2020 election raised just $3.6 million in the second quarter of this year, putting him in the lower tier of candidates who have struggled to...2020 Electionsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Less than five years after starting a protein bar company from the ground up, 31-year-old CEO Peter Rahal's efforts growing RXBar are being rewarded to the tune of more than half a billion dollars.
Asked how much he personally made from the deal, Rahal steered clear of specifics.
"I have financial freedom. I'll just say that," Rahal said Wednesday on CNBC's "Power Lunch. "
The protein bar company has earned distinction for its "clean-label" bars, prominently advertising the few main ingredients on each bar's packaging. For most of the 11 available flavors, these base ingredients include egg whites, almonds, dates and cashews.
Kellogg has high hopes for its new acquisition. In its Friday press release, the Michigan-based cereal giant expected RXBar's net sales to reach about $120 million by the end of 2017.
"Our focus will be on helping to drive the brand's continued growth," said Paul Norman, Kellogg North America president, in the statement.
Rahal said aligning with Kellogg was "kind of a no-brainer" in terms of values and opportunities. "Kellogg will provide us with a ton of muscle" for growth, as well as research and development funding that will "continue to improve the product," he said.
Rahal also said he plans to stay in his role despite his newfound wealth. "I get to keep my job, and the whole company will remain intact. We'll be a standalone company within Kellogg, so we're excited to continue to grow and [move on to] the next chapter."