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McDonald's offices will be temporarily closed as the company prepares for layoffs, according to an internal memo. This week, employees will learn more about the fate of their employment. Read the full memo:Headlines for the Week of April 3AlI U.S.-based McDonald's offices, including MHO, will be closed April 3-5 and employees should work remotely. AlI U.S.-based employees who work from an office location may work remotely for the duration of the week of April 3. AlI U.S.-based McDonald's offices, including MHQ, are closed April 3-5 and employees should work remotely.
New York CNN —McDonald’s instructed corporate employees to work from home this week in anticipation of layoffs, according to a report from the Wall Street Journal. McDonald’s has 150,000 employees in its company-owned locations and offices globally, with 70% of those positions outside of the United States, according to the Journal. McDonald's CEO said in January that job cuts were coming. Zbigniew Bzdak/Chicago Tribune/Tribune News Service/Getty ImagesIn January, McDonald’s CEO Chris Kempczinski said in a memo to staff that job cuts are coming. Meta (META), owner of Facebook, Instagram and WhatsApp, said in March that it would make a second round of job cuts.
Millennials Pay for a Dose of ’90s Nostalgia
  + stars: | 2023-03-31 | by ( Madeleine Aggeler | ) www.nytimes.com   time to read: +1 min
The top floor of the sprawling complex looked like the pages of a ’90s issue of “Teen Beat” had come to life. Of course, it wasn’t exactly like “Teen Beat.” Mr. Fatone, 46, was talking about his children; Mr. Kirkpatrick, 51, was recovering from shoulder surgery; and Ms. Hart, 46, was filming TikToks. (Also, “Teen Beat” stopped publishing years ago.) The stars of the ’90s had grown up. “People are feeling nostalgic about better times,” said Liliana Kligman, 38, one of the founders of That’s 4 Entertainment, the company behind 90s Con.
NHL roundup: Bruins clinch league's best record
  + stars: | 2023-03-31 | by ( ) www.reuters.com   time to read: +7 min
Pastrnak took Hampus Lindholm's feed into the offensive zone and finished with the backhand for his 53rd goal of the season. Tyler Bertuzzi scored the lone Bruins goal of regulation, tying the game in the second period. Mario Ferraro had a goal and an assist and Oskar Lindblom and Tomas Hertl also scored for San Jose. Defenseman Henry Thrun, making his NHL debut after starring at Harvard, added two assists, and James Reimer finished with 23 saves. Blues 5, Blackhawks 3Brandon Saad scored one goal and set up another as St. Louis handed host Chicago its seventh straight loss.
Regulators shuttered Silicon Valley Bank (SVB) and Signature Bank, the second and third largest closures in the nation's history. Authorities then took unprecedented action to backstop the collapsed companies' deposits and introduced new measures to shore up confidence. The ups and downs may have helped banks' trading desks as choppy markets fueled client activity. While billions of dollars of those deposits landed at the biggest banks, some analysts said the influx was unlikely to provide a major boost to their earnings. Investors are becoming increasingly focused on the rising cost of funding for banks, which could weigh on earnings, analysts at Piper Sandler wrote in a note last week.
Dunkin' added breakfast tacos to its menu on March 22. The move comes as McDonald's expanded its test of serving Krispy Kreme doughnuts in Kentucky. Today, Dunkin' launched breakfast tacos for under $3 each. At a December investor day conference, Taco Bell CEO Mark King announced plans to compete with McDonald's at breakfast and lunch. Wendy's, which introduced a new breakfast menu three years ago, told Nation's Restaurant News this month that breakfast sales have surpassed sales targets of $3,000 per week per restaurant.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a huge degree of difference between SVB and the typical regional bank, says Oppenheimer's KotowskiChris Kotowski, managing director and sr. research analyst with Oppenheimer, joins CNBC's Jon Fortt and the 'CNBC Special: Taking stock' to discuss how the Fed has been creating volatility in the financial sector.
Why It Matters Whether a Robot Is Given a Gender
  + stars: | 2023-03-18 | by ( Chris Kornelis | ) www.wsj.com   time to read: 1 min
People are more likely to rate gendered technology highly or to purchase it, research finds. Is it a bad idea to assign a gender to digital assistants and other robots? Organizations such as the Brookings Institution have expressed concern about giving traditionally male or female names, voices and appearances to technology, saying that doing so might reinforce unfair gender stereotypes. When digital assistants such as Alexa and Siri were given female-sounding names and voices, for example, critics complained that the products stereotyped women as being humble or subservient.
Watch CNBC's full interview with Oppenheimer's Chris Kotowski
  + stars: | 2023-03-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Oppenheimer's Chris KotowskiChris Kotowski, Oppenheimer senior research analyst, joins 'Squawk Box' to discuss asset deposit cost repricing, banks suffering in the market today, and the measures taken by the Fed to reduce contagion.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is clearly a lot of fear in the markets today around bank stability: Oppenheimer's KotowskiChris Kotowski, Oppenheimer senior research analyst, joins 'Squawk Box' to discuss asset deposit cost repricing, banks suffering in the market today, and the measures taken by the Fed to reduce contagion.
The move by major banks on Thursday to extend a much needed lifeline to First Republic should help reignite confidence in the sector after a difficult week, Wall Street says. "We view the move by the industry as a positive step to stem contagion amid the regional bank crisis," wrote Evercore ISI's John Pancari in a Thursday note. "We believe the move sends a message of broader stability for the sector and should help further temper depositor fears," and enables the "bank to fight another day." First Republic shares have plummeted 58% this week, after the failure of Silicon Valley Bank triggered a massive selloff among regional bank stocks and panic deposit flight from customers. "It is also a sly vote of confidence in the contributing banks," he said.
As the market tumbles and recession risks rise, it's time to start playing defense and buying stocks that are poised to outperform in the later innings of the U.S. market cycle, according to Wolfe Research. Bond yields have fallen, oil prices have steeply dropped and stock market volatility has surged. With that in mind, here are 10 of the stocks that Wolfe Research believes outperform the rest of the market during a recession. It has an estimated 2023 P/E of 24.7x and an EV/2023 estimated EBITDA of 16.4x. The drugmaker has an estimated 2023 P/E of 37.2x and an EV/2023 estimated EBITDA of 28.7x.
The events of the past few days have shown that regional banks with large amounts of uninsured deposits, like SVB, and New York's Signature Bank, which was closed Sunday, are at risk of deposit flight. KRE 5D mountain Regional bank stocks were under pressure again on Monday after sliding last week. In the case of SVB, the bank had mostly large deposits from companies and wealthy individuals. That can make a bank run worse because smaller retail deposits are seen as more "sticky" than big uninsured accounts. "Unfortunately, one of the first consequences of SIVB's collapse is probably that it will cause a flight of uninsured deposits from smaller, less diverse banks to larger, more diverse ones.
In this photo illustration Silicon Valley Bank (SVB) logo seen displayed on a smartphone screen with NYSE (The New York Stock Exchange) logos in the background in Chania, Greece on March 13, 2023. Even my mother is happy with the Silicon Valley Bank rescue plan. Not just for what it will do for Silicon Valley depositors, but for what it will due for holders of bank savings accounts around the country. "The banks are going to have to give all of us savers more interest, and it's about time," she told me. She has been crowing about her newfound love of bond investing and its relationship to the Silicon Valley Bank debacle.
Astra CEO Chris Kemp speaks inside the company's headquarters during the company's "Spacetech Day" on May 12, 2022. Spacecraft engine manufacturer and small rocket builder Astra announced on Friday that the company is investigating "potential illegal short selling" among shareholders of its common stock. "Astra remains committed to protecting our investors and maximizing stockholder value," Chairman and CEO Chris Kemp said in a statement. The announcement comes as Astra faces a delisting deadline issued by the Nasdaq last year. If that happens, Astra is able to appeal the delisting before a Nasdaq hearings panel.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSilicon Valley Bank is an outlier relative to the industry: Oppenheimer's Chris KotowskiChris Kotowski, Oppenheimer senior research analyst, joins 'Squawk on the Street' to discuss his thoughts on SVB Financial.
March 8 (Reuters) - Bankrupt crypto lender Celsius Network on Wednesday revealed that it was speaking to another potential buyer and will seek additional bids, despite having an offer in hand from asset manager NovaWulf Digital Management. Glenn agreed to give Celsius an extra three weeks to file a Chapter 11 plan. With NovaWulf's offer in hand, Celsius should be able to exit from bankruptcy by June, less than a year after it filed for Chapter 11, Koenig said. If Celsius chooses an alternate bidder, Koenig said, it intends to offer NovaWulf up to $20 million in breakup fees. "If there is a higher offer, it will be because of the floor set by NovaWulf," Koenig said.
NEW YORK, March 6 (Reuters) - Activist investor Legion Partners Asset Management is pushing for four new directors to join Primo Water Corp's (PRMW.N) board, arguing they could help the water company's share price triple over five years. Legion nominated experts in water delivery, beverage operations, marketing and capital allocation as director candidates for election to the U.S.-Canadian company's 10-person board to help reverse "chronic underperformance," according to a letter seen by Reuters. "Substantial shareholder-driven change in the boardroom is long overdue and necessary at the 2023 Annual Meeting in order for Primo to achieve its full potential," Legion's managing directors, Chris Kiper and Ted White, wrote to fellow Primo Water shareholders. Legion, which helped place directors onto boards at Bed Bath & Beyond and Kohl's, said it owns a 1.5% stake in Primo Water and has been an investor in the past. Primo Water offers home and office water delivery, water exchange, where customers return their empty water jugs and buy new ones at retailers, and water refill, its most affordable offering, where customers refill jugs themselves.
The Guilt Behind ‘All Quiet on the Western Front’
  + stars: | 2023-03-05 | by ( Chris Kornelis | ) www.wsj.com   time to read: 1 min
Netflix’s ‘All Quiet on the Western Front’ has emerged as an awards season darling, nabbing nine Academy Award nominations. With nine Oscar nominations, including one for best picture, and seven wins at Bafta Film Awards last month, the German-language movie, “All Quiet on the Western Front” is an unexpected hit of the awards season. The film’s director, Edward Berger, hadn’t expected to make it at all.
NHL roundup: Bruins become fastest to 100 points
  + stars: | 2023-03-03 | by ( ) www.reuters.com   time to read: +7 min
With their ninth consecutive win, the Bruins improved to 48-8-5 on the season and became the fastest team in NHL history to record 100 points, doing so in 61 games. Charlie Coyle, Brandon Carlo and David Krejci each recorded two assists while Patrice Bergeron and Connor Clifton also scored goals. Casey Mittelstadt scored the lone goal and Ukko-Pekka Luukkonen made 35 saves for the Sabres, who dropped their second straight. The Lightning are 2-3-3 in their past eight games and have lost three straight for the first time. The Stars gave goalie Matt Murray his NHL debut, and he finished with 19 saves for the win.
NHL roundup: Connor McDavid's historic multi-goal streak hits 5
  + stars: | 2023-03-02 | by ( ) www.reuters.com   time to read: +4 min
McDavid has scored two goals in each of the past five games and has an NHL-leading 52 for the season. Klim Kostin and former Maple Leaf Zach Hyman added a goal and an assist for the Oilers, who had lost their previous two games. Mitchell Marner logged a goal and an assist for the Maple Leafs, who had a three-game winning streak end. Owen Tippett and Scott Laughton scored one goal apiece for the slumping Flyers, who have dropped four in a row. Jordan Staal and Martin Necas scored goals for Carolina, which took its second straight loss.
NEW YORK, March 1 (Reuters) - Goldman Sachs Group Inc (GS.N) is embarking on a tough sales pitch to investors for assets in its troubled consumer business, which has dragged on earnings and may lack appeal for potential buyers. In an unexpected move, Chief Executive Officer David Solomon said on Tuesday the bank is looking at 'strategic alternatives' for the consumer business, a signal of a possible sale. Solomon had championed Goldman's foray into consumer banking since taking the reins at the Wall Street powerhouse in 2018. The consumer operations largely failed to gain traction against well-established consumer banks and lost billions of dollars due to credit provisioning. Mike Mayo, an analyst at Wells Fargo, wrote in a note that the key question about Goldman's consumer business is: "who would be willing to buy it, and at what price?"
LIV Golf did not immediately respond to a request for comment. LIV Golf is the first sport to broadcast on the CW Network, after the two parties agreed a multi-year deal in January. Perry Sook, the chairman and CEO of CW Network parent company Nexstar, said on Tuesday's earnings call that the three-day tournament was viewed by more than 1.4 million across the network and its digital platform. "We're very pleased with our first weekend of LIV Golf," said Sook. Bankrolled by Saudi Arabia’s Public Investment Fund, LIV Golf attracted some of the sport's biggest names with the promise of supersize paydays and a truncated schedule.
NHL roundup: Roope Hintz's SO goal lifts Stars past Knights
  + stars: | 2023-02-26 | by ( ) www.reuters.com   time to read: +8 min
Rookie Wyatt Johnston also scored a goal and Jamie Benn added two assists for the Stars. Eichel and Michael Amadio both scored goals for Vegas, which saw its five-game home winning streak snapped. Patrik Laine had a goal with two assists and Kirill Marchenko scored twice for the Blue Jackets, who swept the two-game season series from Edmonton. It was Oshie's first career game with a goal, assist and a fight, known as a Gordie Howe hat trick. Tyler Toffoli scored, Jacob Markstrom turned away 18 shots and Nazem Kadri had an assist in his return to Colorado.
NHL roundup: Rangers escape 3-goal hole, edge Oilers in SO
  + stars: | 2023-02-18 | by ( ) www.reuters.com   time to read: +4 min
[1/4] Feb 17, 2023; Edmonton, Alberta, CAN; New York Rangers forward Alexis Lafreniere (13) scores the shoot-out winning goal against Edmonton Oilers goaltender Jack Campbell (36) at Rogers Place. Mandatory Credit: Perry Nelson-USA TODAY SportsFebruary 18 - Alexis Lafreniere scored the deciding goal of the shootout to give the New York Rangers a 5-4 comeback win over the host Edmonton Oilers on Friday. The Rangers trailed 3-0 and 4-1 in the first period, but chipped away and won their seventh straight game. The Oilers are winless (0-1-2) in their last three games, but have still collected points in 13 of their last 14 games (9-1-4). The Oilers scored four goals in the third period of their last game with the Rangers, a 4-3 victory on Nov. 26 in New York.
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