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There are signs that the U.S. consumer is still spending, especially on experiences. But stubbornly high prices are squeezing consumers with lower incomes, pressuring everyday purchases and corporate profits. Broadly speaking, credit card companies like American Express, Visa and MasterCard have described spending trends as "relatively strong," "relatively stable," and even "healthy." Priceline parent Booking Holdings told analysts there are no signs consumers are taking shorter vacations or trading down in their hotel choices. McDonald's added that "the consumer is certainly being very discriminating in how they spend their dollar."
Persons: Brandon Bell, Morgan Stanley's Michael Wilson, Morgan Stanley, Mike Stocker, Stanley Black, Decker, , Anton Pinsky, Beata Zawrzel, Laxman Narasimhan, Shack, Domino's, Pavlo Gonchar Organizations: Getty, Home Depot, Walmart, American Express, Visa, MasterCard, PayPal, Booking Holdings, Las, Port, Tribune, Service, Consumers, Whirlpool, Corp, Starbucks Corp, Nurphoto, Lightrocket Locations: Austin , Texas, U.S, Las Vegas, Port of Miami, Krakow, Poland, Russia, Ukraine
Foxtrot, an upscale convenience-store chain, shuttered its 33 locations on April 23. AdvertisementThis as-told-to essay is based on a conversation with Declan Rhodes, a 25-year-old former employee of Foxtrot, an upscale convenience store chain that was based in Chicago. This will be a nice little survival job while I'm auditioning." It was just: "Kick everyone out of the store, take out the trash, lock doors, and close the store officially." My next move after FoxtrotIt's back to square one in terms of finding a survival job.
Persons: Declan Rhodes, , I've, John J, Kim, strapping, we'd, Rhodes, It's, I'm Organizations: Service, Washington DC, Business, Caesars, Chicago Tribune, Tribune, Getty, Foxtrot Locations: Chicago, Austin, Dallas, Springfield , Missouri, Illinois
Two US Navy warships on the front lines of the Houthi battle are back in the Red Sea. The USS Dwight D. Eisenhower and USS Gravely made a recent port visit in Greece. AdvertisementThe US Navy aircraft carrier that spent months battling the Houthis in the Red Sea is rearmed and back in the waterway after a short break. AdvertisementThe Nimitz-class aircraft carrier USS Dwight D. Eisenhower prepares to port in Souda Bay, Greece on April 28. While there may be no immediate end in sight to the Red Sea conflict, US officials have routinely stressed that American forces will continue to engage the Houthis.
Persons: Dwight D, Eisenhower, , Arleigh Burke, Mercy Crowe, Ike, Marc Miguez, Miguez, Souda, Navy Carlos Del Toro, National Intelligence Avril Haines, Nicholas Rodriguez, Haines, Pat Ryder Organizations: US Navy, Navy, Service, Business, NATO, Nimitz, Mass Communication, Eisenhower Carrier Strike, Fighter Squadron, Eisenhower, US, National Intelligence, Armed Services, Department of Defense, Pentagon Press, Air Force Locations: Red, Greece, Souda Bay, Crete, Gulf, Aden, Yemen, Iran, Gaza, Israel
A Florida-based Gen Xer made over $300,000 in 2023 secretly working multiple remote tech jobs. AdvertisementIn 2021, Robert was making roughly $180,000 a year from his tech job, but when his workflow slowed, he feared a layoff may be coming soon. AdvertisementThe Gen Xer, a Florida resident, is among the "overemployed" Americans who are secretly working multiple remote jobs to boost their incomes. Aside from family and travel, Robert said he spends most of his money on food and his home. Are you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?
Persons: Xer, , Robert, who've, hasn't, it's, He's, he's Organizations: Service, BI, Business Locations: Florida, Yellowstone, Las Vegas
As the sun set on a cloudy evening in Times Square on Friday, a 65-foot-long frankfurter cantilevered into the sky and spewed out a blast of rainbow confetti. of its bun, drag wrestlers were finishing their match in an elevated boxing ring, practically twerking on the ropes, cheered on by hundreds of spectators. It was the first public event for “Hot Dog in the City,” an installation for Times Square Arts, the largest work that the organization has ever commissioned. The giant wiener was created by Jen Catron and Paul Outlaw, married Brooklyn artists whose métier is often interactive, food-based spectaculars that also question the lore — and lure — of Americana. When they hit upon the hot dog, a national symbol of patriotism and also an emblem of the hard-to-digest truth about mass production and labor, consumerism and marketing, it seemed like a natural match for the setting.
Persons: wiener, Jen Catron, Paul Outlaw Organizations: Times Square Arts, Brooklyn Locations: City
After living there for 20 years, she saw herself as an immigrant, rather than an expat. I'm in the toothpaste aisle at Target, dumbfounded by a selection that runs several shelves long and as many high. After more than 20 years in Cuba, where Close-Up and La Perla were the only choices for most of that time, I'm overwhelmed by the number of options. In Cuba, moreover, women have full autonomy over their bodies, which I feel is the only way it should be. Comfort food, like a juicy hamburger, is one of the great things about living back in the US.
Persons: Conner Gorry, , La Perla, Davidson Jose Salgado, Harley, Davidson, Fidel Castro, I'd, you've, I'm, doctor's, Carolyn Gorry, I've Organizations: Service, La, World Trade, Harley, Diplomats Locations: New York, Havana, Target, Cuba, Detroit, Pakistan, Haiti, , Dijon
Food waste is so prolific in the U.S. that roughly one-third of the amount produced ends up in landfills rather than stomachs. A recent study published in the journal Science found food production accounts for 26% of global greenhouse gas emissions. Food delivery services like HelloFresh, Blue Apron and EveryPlate reduce that somewhat by sending consumers what they need for specific recipes. The company says its processes help lead to 80% less food waste at its facilities compared with a traditional supermarket. In addition to Lightspeed, Hungryroot is backed by L Catterton, Crosslink Capital, Karp Reilly and Lerer Hippeau.
Persons: Ben McKean, Hungryroot, Jeremy Liew, They've, L, Karp Reilly, Lerer, Lisa Rizzolo Organizations: CNBC, Investors, Lightspeed Venture Partners, Crosslink Locations: U.S, York, Brussels
A German political party proposed a government cap on doner kebabs. Around €7 billion, or around $7.5 billion, worth of doner kebabs are sold every year in Germany, according to The Guardian and The Independent. The party plans to propose a government price cap of €4.90 (around $5.30) or €2.90 (around $3.10) for young people, The Guardian reported. If those decrease, then kebab prices also decrease," Gebel told BI. "The kebab price will remain high if the government does not change anything," she said.
Persons: Chancellor Scholz, , Kathi, Gebel, Olaf Scholz, Virginia Mayo, Scholz, Putin … I'm Organizations: Guardian, Service, Independent, Left Party, AP, European Central Bank, Federal Statistical Office Locations: Germany, Brussels, Virginia
My friend and I paid $1,900 to stay in a mountain-view room at the Taj Cape Town in South Africa. That's why I was ecstatic when my best friend asked me to be her plus-one to a ceremony in Cape Town, South Africa, one of the top unique wedding destinations for 2024 and 2025. When we were choosing a place to stay, I decided to go with a chain I was already familiar with and booked a room for two at the Taj Cape Town. I spent 35,500 ZAR, or about $1,900 USD, on a six-night stay at the hotel. Here's what our experience at Taj Cape Town was like.
Persons: , Pierre Organizations: Taj, Service, Taj Cape Locations: Town, South Africa, Cape Town , South Africa, New York City
The suits were brought not by women seeking an out-of-state abortion but rather by groups that intend to help them. Collectively, he wrote, the groups receive as many as 95 inquiries each week asking about the availability of out-of-state abortions. Even before the Supreme Court overturned Roe in 2022, abortion rights groups warned that some states might attempt to limit out-of-state travel for the procedure. “This is the world Dobbs created – one of intense interstate conflict.”The Supreme Court’s majority opinion in Dobbs didn’t deal with out-of-state travel. “For example, may a state bar a resident of that State from traveling to another state to obtain an abortion?
Persons: Roe, Wade, Steve Marshall, Myron Thompson, ” Thompson, Thompson, Jimmy Carter, ” Thomson, , Marshall, , Temple University Beasley School of Law Dean Rachel Rebouché, Dobbs, Brett Kavanaugh, ” Kavanaugh, Alison Mollman Organizations: CNN, Republican, Fund, Alabama, Jackson, Health Organization, Temple University Beasley School of Law, and Drug Administration, American Civil Liberties Union Locations: Alabama, California, Dobbs v, United States . Alabama
"These numbers on abortion have gigantic implications for just about every large company in America," said Cyrus Beschloss, the CEO of The Generation Lab. The CNBC/Generation Lab survey was conducted between April 26 and May 2, and has a margin of error +/- 3.1%. Sour on the economyThe survey also found that respondents had a negative opinion of an economy many would consider robust. The survey showed that 54% of respondents feel inflation impacts them the most in "the cost of food." Offered two options of how the government should proceed with TikTok, a large majority — 70% — of survey respondents said it should "allow TikTok to keep operating as usual."
Persons: Elijah Nouvelage, Cyrus Beschloss, they're, Roe, Wade, Jerome Powell, Powell, Delano Saporu, Saporu, Joe Biden, Steve Cohen, workweek, Kennedy, Biden, Donald Trump, Daniel Steinle Organizations: Emory University, AFP, Getty, CNBC, U.S, Federal Reserve, New Street Advisors, Congress, New York Mets, Biden, Trump, Bloomberg Locations: Atlanta , Georgia, USA, America, Washington, U.S, Waukesha, Waukesha , Wisconsin
Read previewAt 93, John Starbrook competes in water polo games, hits the gym up to twice a day, and only stopped running marathons five years ago. As average life spans rise and an aging population becomes a global reality, interest in staying healthy for longer is growing. But a healthy lifestyle appeared to offset the effects of genes linked to a shorter lifespan by 62%. But he really amped things up at age 53 when he got into running marathons. Research suggests social bonds are an important part of a long, healthy life.
Persons: , John Starbrook, Starbrook, Judy Organizations: Service, UK, Guardian, Business, McKinsey, US News, University of Bergen, US Health Department, Department, London, Research Locations: Norway, London
Disney Why we own it: We value Disney for its best-in-class experiential entertainment Parks business, which has proven to have immense pricing power. In the second quarter, the combined business — Disney+, India's Disney+ Hotstar, Hulu and ESPN+ — saw losses of $18 million, far better than the $659 million loss in the year-ago period. DTC profitability benefited from Disney+ core subscriber growth, higher retail subscription prices, increased advertising revenue on the back of higher impressions, and lower distribution costs. Clearly, Disney still has a big opportunity in sports as they execute on their DTC streaming strategy for ESPN. The atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022.
Persons: , Nelson Peltz, wouldn't, Hugh Johnston, Jim Cramer's, Jim Cramer, Jim, Presley Ann Organizations: Club, Revenue, LSEG, Disney, Parks, ESPN, Comcast, Netflix, Warner Bros Discovery, Paramount Global, CNBC, seasonality, Entertainment, Hulu, Hulu Live, Sports ESPN, College Football, National Football League, Walt Disney World, Disney Cruise, Disneyland, Hong Kong, Getty Locations: Hulu, India, Florida, California, Hong, Los Angeles
Misaki and Amir ended up coming in under budget, spending just over $80,000. "Obviously, you can always have a cheaper wedding; you can always have a backyard wedding. "If you don't care to have a wedding, then obviously spending $80,000 on a wedding doesn't make any sense." "Talk with your partner on where your priorities lie, whether you even want to have a wedding," she said. "And then if it is something you want to do, then think about all the other priorities in your life.
Persons: Misaki, Amir, Francisco Salas Misaki
Chicken is a hit among fast food consumers
  + stars: | 2024-05-07 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChicken is a hit among fast food consumersCNBC's Kate Rogers joins 'Power Lunch' to discuss the increase of sales at food chains of chicken.
Persons: Kate Rogers
A Condor flight from Mauritius to Frankfurt was met by emergency services because of mass illness. Seventy of the 290 passengers reported symptoms such as vomiting and nausea, Bild reported. AdvertisementA flight to Germany had to be met by emergency services after dozens of passengers started vomiting. The German outlet Bild reported that 70 of the 290 passengers on board reported symptoms including vomiting and nausea. During the flight, 197 passengers fell ill, and 144 of them were taken to the hospital.
Persons: Condor, Organizations: Service, Condor Airbus, Business, Condor, Japan Air Lines Locations: Mauritius, Frankfurt, Germany, Japan
Former NSYNC member Lance Bass said his boyband years took a toll on his body. Bass said he has focused on stabilizing his blood sugar after a post-NSYNC diabetes diagnosis. He has also discovered the power of broccoli and some other nutrient-rich vegetables to stabilize his blood sugar, he told Business Insider in an interview. There are no plans right now, but I think the future is bright for NSYNC," Bass said. Eating broccoli and spinach helps balance his blood sugarBass has been paying more attention to his blood sugar, and eating balanced meals, after a recent diabetes diagnosis.
Persons: Lance Bass, Bass, , he'd, I'm, NSYNC, Justin Timberlake, I've, Allegra, Michael Turchin, Violet, Alexander, we're Organizations: Service, Allegra Airways Locations: LA
Gig work, in particular ride-hailing for companies like Uber and Lyft, is getting more popular. AdvertisementMore and more Americans are taking up gig work for companies like Uber and Lyft — in part because some have fewer options to land high-paying jobs. Additionally, BofA found that people with ride-hailing income earned, on average, more a month than those who did delivery gig work. Vacation rental was the highest-earning gig BofA measured, but this is only accessible to people with a home to rent out. While some young people could value the supplementary income gig work can provide — particularly if they're struggling to pay the bills — others may end up disappointed.
Persons: Uber, , Lyft, BofA, it's, they've, Kate Bahn, X, Gen, they're Organizations: Service, Bank of America, Bank of America Institute, Bureau of Labor Statistics, Institute for Women's, Research, Atlanta Fed, millennials
Charged Lemonade from a Panera Bread Co. arranged in the Queens borough of New York, US, on Tuesday, Dec. 12, 2023. A Panera Bread spokesperson says the restaurant chain is phasing out its Charged Lemonade, a highly caffeinated beverage that has been blamed for at least two deaths in lawsuits. A spokesperson for Panera said Tuesday that the nationwide discontinuation of the Charged Lemonade comes after a "recent menu transformation." Panera previously advertised its Charged Lemonade as "Plant-based and Clean with as much caffeine as our Dark Roast coffee." Panera has since updated its nutrition information to reflect how much caffeine is in the Charged Lemonade with ice, listing the large size of the blood orange Charged Lemonade, for example, as having 302 milligrams.
Persons: Sarah Katz, Dennis Brown, Lauren Skerritt, Panera, Katz, Victoria Rose Conroy, Sarah, Brown, Elizabeth Crawford, Kline, Specter, Dennis, Lauren Organizations: University of Pennsylvania, Food and Drug Administration, NBC News, NBC Locations: Queens, New York, Florida, Rhode, Missouri, Pennsylvania, New York City, Philadelphia
By normal standards, the U.S. economy continues to look very good. Unemployment has now been below 4 percent for 27 months, and inflation remains fairly low, albeit somewhat higher than the Federal Reserve’s target of 2 percent. But if you say that, you get a lot of pushback; some get angry. Much of that pushback is partisan. Donald Trump described Friday’s jobs report, in which the unemployment rate rose — wait for it!
Persons: Donald Trump, it’s Organizations: Federal Locations: U.S
A Condor Airlines flight from Mauritius to Frankfurt was met by emergency services due to mass illness. 70 of the 290 passengers reported symptoms like vomiting and nausea, Bild reported. AdvertisementA flight to Germany had to be met by emergency services after dozens of passengers started vomiting, the German outlet Bild reported. The Condor Airlines A330 was flying from Mauritius to Frankfurt last Thursday — a journey that takes more than 11 hours. Bild reported that 70 of the 290 passengers on board reported symptoms like vomiting and nausea.
Persons: Organizations: Condor Airlines, Service, The Condor Airlines, Business, Condor, Japan Air Lines Locations: Mauritius, Frankfurt, Germany, Japan
CNN —Palestinian civilians told to evacuate eastern Rafah by the Israeli military have described their fear and despair at being uprooted from their homes and shelters, as Israel airstrikes hit Gaza’s southernmost city. “We left because they distributed leaflets,” Mohammed Ghanem, a resident in eastern Rafah told a CNN stringer in the area on Monday. They are killing women and children.”Another woman from eastern Rafah said, “The Israelis sent us messages ordering us to leave. It is not only my feeling, it is everyone’s feeling.”Many of those leaving eastern Rafah have been previously displaced multiple times as Israel’s focus moved from city to city. A woman called Maha said Palestinian civilians were at the mercy of the Israeli military.
Persons: ” Mohammed Ghanem, , , Ghanem, Khan Younis, Ramadan Abed, Volker Türk, Faisal Barbakh, Malek, Yousef, , Mohammad Abu Khamash, It’s, ” Scott Anderson, Jan Egeland, Ahmad Safi, Safi, Abu Salah, Maha Organizations: CNN, Reuters, United Nations, Norwegian Refugee Council, Israel Defense Forces, Frontieres, ” MSF, UN Children’s Fund, UNICEF, UN, Palestinian Civil Defense Locations: Rafah, Israel, , Mawasi, Gazan, Rafah’s, Gaza, , Israeli, Palestinian
After visiting Las Vegas over 50 times, my husband and I have a dining strategy: We return to a few of our favorite spots and then try a couple of new ones. AdvertisementOcean Prime is a splurge-worthy restaurant perfect for celebrating special occasionsWendy LeeIn 2023, Ocean Prime opened on the corner of Las Vegas Boulevard and Harmon Avenue — it even has a rooftop terrace overlooking The Strip. AdvertisementAt first, that made me doubt the quality of the food — but I've learned the food is even better than the decor. On a recent trip to Catch, I got the best French toast I've ever eaten. Located inside Paris Las Vegas, the French eatery has a patio directly across the street from the Bellagio Fountains.
Persons: , Wendy Lee, Roy Choi, Jon Favreau, Lago, Julian Serrano's Lago, George Rose, Julian Serrano, I've, Retox, Bardot Brasserie, Bardot, Benedict, De Laurentiis, Mon Ami Gabi, Harun Ozmen, Shutterstock Organizations: Service, Las Vegas, Business, MGM, Bellagio, Casino, Ocean, Cosmopolitan, Mon Locations: Vegas, Cuban, Bellagio, Bellagio Fountains, Lago, Las Vegas, It's, cafés, Paris, Cromwell, ribeye, York, it's, New York, Paris Las Vegas
To win penny-pinching customers back, some say they're planning smaller price increases for the rest of the year. Wendy's CFO Gunther Plosch told investors on Thursday that consumers are "still under pressure" — especially those with household incomes under $75,000. Chains raised prices drastically during the pandemic to offset rising labor and food costs, and it's coming back to bite them. For some restaurant chains, comparable sales even fell. McDonald's would "certainly" be "prudent and thoughtful" about any further price increases in the rest of 2024, Borden said.
Persons: , Gunther Plosch, Ian Borden, Joshua Kobza, Burger, Popeyes, Burger King, Wendy's, William Blair, Sharon Zackfia, Borden, Katie Fogertey Organizations: Service, Starbucks, KFC, US, Bureau of Labor Statistics Locations: Burger, North America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhole Foods CEO Jason Buechel: Food inflation is 'still a real issue'Whole Foods CEO Jason Buechel joins CNBC's 'The Exchange' to discuss consumer behavior, digitization of the grocery experience, and more.
Persons: Jason Buechel Organizations: Foods
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