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☆ Craft cocktails, mountain bikes and art: Walmart's hometown is booming, and getting more expensive
▼ + stars: | 2024-06-06 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +13 min

— When Gil Curren's family moved into a run-down farmhouse in Walmart's hometown of Bentonville, Arkansas, in 1971, the now-retail giant wasn't yet a decade old. Craft cocktails, hipster coffee shops and chef-driven restaurants have popped up around the city. Realtor Kristen Boozman, who works for Sotheby's, helps clients search for homes in the Bentonville area, including many buyers who are relocating from another city. Home values have shot up in the Bentonville area. A Walmart spokeswoman said the Walton Family Foundation funds and advocates for affordable housing projects in the Bentonville area.

Persons: Gil Curren's, it's, Sue, Gil Curren, Melissa Repko, Hunt, Tyson, Shawn Baldwin, Sam Walton, Walton, Walton's, Steuart, Tom Walton, Sam Walton's, Alice Walton, Bridges, She's, Crystal Bridges, Kristen Boozman, There's, Donna Morris, Morris, Tracy Robinson, she's, CNBC Tracy Robinson, Robinson, Stanley, Matthew Cooper, Tom, Cooper, he's, district's, It's, Jeff Webster, Bentonville Shawn Baldwin Organizations: Cyclists, Kansas City, CNBC, Walmart, Craft, Fortune, Tyson Foods, PepsiCo, Hershey, Mattel, . Census, Cushman &, Sage Partners, of Commerce, Northwest Arkansas Council, D.C, Ropeswing Hospitality, Bentonville Schools, Excellerate Foundation, Walton Family Foundation, Walton Family, Bentonville Locations: BENTONVILLE, Ark, Walmart's, Bentonville , Arkansas, Bentonville, Kansas, Austin , Texas, New York, U.S, Silicon, It's, Arkansas, Cushman & Wakefield, American, Crystal, Austin, Boise , Idaho, Dallas, Fort Worth, Atlanta, Toronto, New York City, Miami, Washington, New York City , Washington, Bentonville's

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Walmart turned Bentonville, Arkansas into a boomtownWalmart's hometown of Bentonville, Arkansas has become a boomtown with many amenities you might expect to find in New York or San Francisco – fancy restaurants, craft cocktails, bike paths and a world-class art museum. The town has more cranes per capita than any other U.S. city as Walmart builds a 350-acre new headquarters. Bentonville's population is expected to triple by 2050. But with the boom comes big-city economic challenges. CNBC's Melissa Repko travels to Bentonville for the story.

Persons: CNBC's Melissa Repko Organizations: Walmart Locations: Bentonville , Arkansas, New York, Francisco, Bentonville

☆ Why there's a massive copper shortage
▼ + stars: | 2024-05-31 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

Demand for copper is surging. The red metal, considered a barometer for economic health, is a vital component for the construction and defense industries as well as a key component in electric cars, wind turbines and the power grid. Existing mines and projects under construction will meet only 80% of copper needs by 2030, according to the International Energy Agency. "High-grade economic copper resources are not abundant, these things aren't all over the place, you have to go find them," said Chris LaFemina, global metals and mining analyst at Jefferies. To look at the challenges facing copper producers, CNBC got a behind the scenes look at Rio Tinto's Kennecott mining operation outside of Salt Lake City.

Persons: Chris LaFemina Organizations: International Energy Agency, Jefferies, CNBC Locations: Rio, Salt Lake City

U.S. defense spending and military aid costs are adding up. President Joe Biden signed a $95 billion U.S. military aid package in April allocating funding to Ukraine, Israel, Taiwan and the Indo-Pacific region. On top of that, the National Defense Authorization Act of 2024 authorized military spending of a record $886 billion. A big chunk of that money will go to bolster the American defense industry. So where does the U.S. send military aid and personnel and how does defense spending affect the world at large?

Persons: Joe Biden, Gregory Hayes, CNBC's, Lockheed Martin, RTX, Northrop Grumman Organizations: National Defense, U.S, Dynamics, Boeing, Northrop, Northrop Grumman —, of Defense, Congressional Research Service Locations: Ukraine, Israel, Taiwan, U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the U.S. spends trillions being the world's 'top cop'President Joe Biden signed a $95 billion military aid package in April 2024, including funds for Ukraine and Israel. Military spending often bolsters the U.S. defense industry. The five largest U.S. defense companies, Lockheed Martin, RTX, General Dynamics, Boeing and Northrop Grumman, had Department of Defense contracts totaling more than $118 billion in fiscal year 2022. Watch this video to learn more about where the U.S. sends military aid and personnel and the global impact of defense spending.

Persons: Joe Biden, Lockheed Martin, RTX, Northrop Grumman Organizations: Military, U.S, Lockheed, Dynamics, Boeing, Northrop, of Defense Locations: U.S, Ukraine, Israel

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Maersk is evolving to become a logistics powerhouseEach year about 90% of world trade is transported by ship. In addition to its fleet of 672 vessels, Maersk the world's second largest container shipping company and runs one of the globe's largest port terminal businesses with 64 terminals. To offset some of its risks the company is beefing up its end-to-end logistics business, investing in last mile delivery and air freight.

Organizations: Maersk

☆ How Maersk grew its shipping empire and how it’s evolving
▼ + stars: | 2024-03-30 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

Each year about 90% of world trade is transported by ship, according to the World Economic Forum. With its fleet of over 670 vessels, Maersk , one of the world's largest shipping companies, transports about one in five of those containers. The company logged record profits in 2022 due in part to pandemic-induced buying and higher freight rates. It also chartered the vessel that crashed into the Francis Scott Key Bridge in Baltimore earlier this week. CNBC examines the issues facing Maersk, and its rivals Hapag-Lloyd and MSC, and looks at how the company is trying to transition for future growth.

Persons: Francis Scott Key Organizations: Economic, International Longshoremen's Association, CNBC, Maersk, Hapag, Lloyd, MSC Locations: Panama, North America, Baltimore

☆ What's behind the increase in car insurance rates
▼ + stars: | 2024-03-23 | by ( Shawn Baldwin | Jeniece Pettitt | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat's behind the increase in car insurance ratesCar insurance has gotten expensive. The average annual premium for full coverage car insurance in the U.S. rose 26% to $2,543 compared to last year, according to Bankrate. Fewer auto mechanics, a tighter supply of used vehicles and increased health care bills are fueling rising prices. As premiums have spiked so too have the number of uninsured drivers.

Locations: U.S

☆ Why auto insurance rates are skyrocketing in the U.S.
▼ + stars: | 2024-03-23 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

Car insurance is getting more expensive. The average annual premium for full coverage auto insurance in the U.S. rose to $2,543 in 2024 — up 26% from the previous year, according to Bankrate. "That has led to an environment where the consumer, the insured, is out shopping for auto insurance and finding that they cannot find an insurer that has a lower premium for them." Around 215 million Americans carry auto insurance and the market is valued at roughly $353 billion, according to IBISWorld. So, what other factors are behind the spike in auto insurance rates and what impact are rising premiums having on consumers and large publicly traded companies such as Allstate, Progressive and Berkshire Hathaway's Geico ?

Persons: Stephen Crewdson, Berkshire Hathaway's Organizations: American, Casualty Insurance Association, Allstate, Progressive, Berkshire Locations: U.S, .

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChairman Jimmy Pitaro on ESPN's uncertain futureESPN chairman James Pitaro sat down with CNBC to discuss the company's future as it faces serious cord cutting and competition from tech companies like Amazon and YouTube with deeper pockets than parent company Disney.

Persons: Jimmy Pitaro, James Pitaro Organizations: ESPN, CNBC, Amazon, Disney

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Disney CEO Bob Chapek on ESPN's futureBob Chapek, former Disney CEO, sat down with CNBC's Alex Sherman in his first public interview since leaving Disney to discuss his thoughts on ESPN's future.

Persons: Bob Chapek, CNBC's Alex Sherman Organizations: Former, Disney

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow ESPN is trying to stay relevant as cable declinesESPN has been the most dominant sports channel for more than 40 years. It holds live sports rights including the NFL's Monday Night Football, the NBA and the WNBA. But as millions of Americans cancel their cable TV subscriptions and big tech companies like Amazon and YouTube bid on live sports, ESPN has had to adjust — or decline along with the pay-TV business. CNBC sat down with former and current executives to talk about the future of the sports juggernaut.

Organizations: ESPN, Football, NBA, Amazon, YouTube, CNBC

☆ Inside Nestle's instant coffee business
▼ + stars: | 2024-03-02 | by ( Shawn Baldwin | Jeniece Pettitt | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside Nestle's instant coffee businessIn Vietnam's Central Highlands growers eagerly await the annual coffee harvest in October when coffee cherries turn deep red in color. Vietnam is the world's second largest exporter of coffee behind Brazil which produces about 40% of the globe's coffee supply. Fluctuating coffee prices and high labor costs have caused financial difficulties for farmers in recent years. To keep up with demand Nescafé works with over 100,000 farmers and buys more than 13 million bags of green coffee annually.

Locations: Highlands, Vietnam, Brazil

☆ How Nescafé instant coffee is made
▼ + stars: | 2024-03-02 | by ( Shawn Baldwin | ) www.cnbc.com time to read: 1 min

Americans consumed over 1.3 billion cups of Nescafé last year, helping the brand become Swiss-based food giant Nestlé's largest coffee segment. With sales in over 180 countries, one in seven cups of coffee consumed worldwide is a Nescafé. Nescafé works with over 100,000 farmers, buys more than 13 million bags of green coffee annually and has two dozen factories globally. So how is Nescafé instant produced? To find out, CNBC traveled to Vietnam, the world's second-largest exporter of coffee behind Brazil, to get a look at Nescafé operations.

Organizations: Inter, American Development Bank, CNBC Locations: Swiss, Vietnam, Brazil

☆ Why Nescafé instant coffee sales are surging
▼ + stars: | 2024-02-14 | by ( Shawn Baldwin | Jeniece Pettitt | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Nescafé instant coffee sales are surgingAmericans drank an estimated 517 million cups of coffee daily in 2022 spending almost $110 billion on the beverage that year. Cold brews, expresso-based beverages and perfectly roasted beans are among the top drinks for today's coffee aficionados. But one segment of the U.S. market has given up ground. Instant coffee, the kind that dissolves in hot water, has seen consumption fall to just 4% of American coffee drinkers. By comparison 25% of the coffee consumed globally is instant.

Locations: U.S

☆ How Nescafé came to dominate the instant coffee market
▼ + stars: | 2024-02-14 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

Soluble coffee accounts for about a quarter of the beverage consumed globally, according to Brazilian Instant Coffee Industry Association, and that number is rising. "People often think that people have stopped drinking instant coffee because we have so much specialty coffee in abundance today," said coffee expert Jake Leonti at food and beverage consulting firm F+B Therapy. Known for its affordability and convenience, instant coffee is known as the black sheep of the coffee world. And yet 6,100 cups of Nescafé instant coffee are consumed every second, according to the company, Swiss-based food giant Nestlé's largest coffee brand. Worldwide one in seven cups of coffee consumed is a Nescafé.

Persons: Jake Leonti Organizations: National Coffee Association, Overseas, Instant Coffee Industry Association, CNBC Locations: Swiss, Vietnam, Brazil

☆ How KFC won over China
▼ + stars: | 2024-01-11 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

KFC is one of the world's largest restaurant chains, with more than 29,000 locations and a new outlet opening every three and a half hours, according to Yum! But while much of the brand's early success came from the U.S., today the majority of its growth is in China. KFC China recently celebrated the opening of its 10,000th store in the city of Hangzhou, about an hour outside of Shanghai. So how did KFC overtake other fast food chains like McDonalds , Starbucks and Taco Bell in China, and can the business continue to grow? CNBC traveled to Hangzhou, China, and got an exclusive interview with the CEO of Yum China, Joey Wat, to find out.

Persons: Joey Wat Organizations: KFC, ! Brands, Starbucks, Taco Bell, CNBC, Yum Locations: U.S, China, KFC China, Hangzhou, Shanghai, Yum China

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow China became KFC's most important marketKFC is one of the world's largest fast food chains with more than 29,000 restaurants and a new location opening every three and a half hours. But while much of the brand's early success came from the U.S., today the majority of its growth is in China. The first KFC franchise opened in Salt Lake City in 1952 but the chain didn't get its start in China until 1987. A leg up on the competition and an infusion of Chinese characteristics into the menu were key to its early success in China.

Organizations: KFC Locations: China, U.S, Salt Lake City

☆ Why the U.S. has a serious mining worker shortage
▼ + stars: | 2023-12-08 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

More than half the nation's mining workforce, about 221,000 workers, is expected to retire by 2029, according to the Society for Mining, Metallurgy & Exploration, and the number of candidates willing to fill those slots is shrinking. "Our workforce is aging," said Bold Baatar, chief executive of copper at Rio Tinto. At the same time, demand for rare earth minerals such as lithium, cobalt and copper, critical components used to make batteries for electric vehicles and smartphones, is on the rise. Globally, at least 384 new mines will need to be built to meet demand for electric vehicles by 2035, according to Benchmark Mineral Intelligence. To better understand the role miners play in the transition to green energy, CNBC got a behind-the-scenes look at Rio Tinto's copper mining operation in Utah.

Persons: Baatar Organizations: Society for Mining, Exploration, Rio Tinto, Benchmark Mineral Intelligence, CNBC Locations: Rio, Utah

☆ Inside mining giant Rio Tinto's Utah copper mine
▼ + stars: | 2023-12-02 | by ( Shawn Baldwin | Jeniece Pettitt | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside mining giant Rio Tinto's Utah copper mineGlobal demand for copper, a major component of electric vehicles, is expected to almost double from 25 million metric tons to nearly 49 million metric tons by 2035, according to S&P Global.

Organizations: P Global Locations: Rio, Utah

☆ How $100 billion mining giant Rio Tinto is poised to benefit from the EV boom
▼ + stars: | 2023-12-02 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

Copper mines like Rio Tinto's Bingham Canyon mine on the outskirts of Salt Lake City are on the frontline of America's transition to clean energy. Jointly based in Australia and the UK, Rio Tinto is one of the world's largest mining companies with projects in 35 countries. It has 17 iron ore mines in Western Australia that produce material used in steel, as well as mines that produce aluminum, diamonds, and boron, a component used in smartphones. So what is Rio Tinto doing to ramp up production of its critical minerals business? CNBC got a behind the scenes look at Rio Tinto's Utah operation to find out.

Persons: Tyler Broda Organizations: P, RBC Capital Markets, Rio Tinto, CNBC Locations: Rio, Bingham, Salt Lake City, Australia, Western Australia, Rio Tinto's Utah

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy EV sales have slowedIn October 2023, it took nearly twice as long to sell an EV in the U.S. as it did in January. Prices of EVs are down 22% year-over-year and that's mainly driven by Tesla. About two thirds of total EVs sold are from Elon Musk's brand. Companies like Ford have ramped up hybrid production as demand for electric has leveled off. While slightly more than half of consumers say EVs are the future and will eventually replace ICE vehicles, less than a third of dealers say so.

Persons: EVs, what's Organizations: Tesla, Elon Musk's, Companies, Ford, ICE Locations: U.S

☆ How Walmart became America’s largest grocer
▼ + stars: | 2023-10-22 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

In an effort to stretch their dollars, a growing number of Americans are turning to Walmart . The Arkansas-based retailer is America's largest grocer, more than twice the size of its next-biggest competitor as it takes in more than one in four grocery dollars in the U.S., according to KeyBanc Capital Markets. Though many Americans have turned to Walmart for relief from higher prices, the retailer's shoppers aren't immune to inflation. But with inflation cooling and prices leveling off, will Walmart be able to hang on to its newly acquired shoppers? CNBC looks into Walmart's grocery business to see why even more Americans might be buying food from the company in the future.

Persons: Brad Thomas Organizations: Walmart, KeyBanc, CNBC Locations: The Arkansas, U.S, America

☆ How groceries have kept Walmart the king of retail
▼ + stars: | 2023-10-22 | by ( Shawn Baldwin | Jeniece Pettitt | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow groceries have kept Walmart the king of retailTo boost its customer base Walmart has enhanced its online shopping experience, added robots to its warehouses and ramped up programs like drone and direct-to-fridge delivery. It's also expanded its late night delivery offerings.

Persons: It's Organizations: Walmart

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe study of UFOs goes mainstreamFor decades, much of the discourse around UFOs has been confined to science fiction movies and novels. In the absence of government commentary on the topic, conspiracy theories around the U.S. hiding alien life and technology in secret compounds like Area 51 have run rampant. In an attempt to address potential national security questions, Washington, D.C. has taken up the charge to publicize and legitimize the study of unidentified anomalous phenomena, or UAPs, as the military is calling UFOs.

Locations: Washington

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