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☆ The next world’s tallest building could be a 3,000-feet-high battery
▼ + stars: | 2024-08-07 | by ( Amy Gunia | ) edition.cnn.com time to read: +6 min

A combination of technologies — from various forms of batteries to other energy storage methods — will likely be necessary to increase capacity. As shown in this render, energy storage company Energy Vault, along with Skidmore, Owens & Merrill, the architecture and engineering firm behind some of the world's tallest buildings, is integrating gravity energy storage technology into building designs. A view of the world's tallest building, the Burj Khalifa, in Dubai, in December 2022. Two energy storage experts contacted by CNN questioned if the economics of a skyscraper battery could work, given the space that would need to be used for energy storage and the structural changes that would be needed to support the extra weight. Energy Vault has already completed a project in China which it says is the world’s first commercial-scale, non-pumped hydro gravitational energy storage system.

Persons: Chicago’s Willis, Bill Baker, Abdelhadi Ramahi, Robert Piconi, Stefano Boeri, Daniel Safarik, ” Organizations: CNN, Skidmore, Owings, Merrill, Energy, Owens & Merrill, Trade Center, Sears, Burj, International Energy Association ., SOM, Reuters Locations: Burj Khalifa, Dubai, China, Milan, Italian

☆ Americans just can’t quit their giant, gas-burning trucks
▼ + stars: | 2024-08-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

A ‘harsh reality’ for EVsFord likes to brag about its growing EV sales, but its profit is still primarily coming from the sales of gasoline powered trucks and SUVs. Ford isn’t the only automaker pulling back on its EV plans and making new investment in ICE vehicles. This is not to say that the traditional automakers are dropping their EV plans altogether or that EV sales are falling. But EV sales, which initially grew at a double-digit pace, haven’t shot up exponentially as automakers hoped or expected. That uncertainty about the future of US EV incentives prompted automakers to reconsider their earlier EV plans.

Persons: Ford, ” Ford, Jim Farley, hasn’t, EVs Ford, ”, Ivan Drury, Mary Barra, EVs, Stellantis, haven’t, Tesla, Donald Trump, Elon Musk, Carlos Tavares Organizations: New, New York CNN, EVs, Canadian, Ford, Super, Kentucky, Super Duty, Ford’s, Ford Expedition, GM, ICE, United Auto Workers, “ Locations: New York, Oakville , Ontario, Toronto, Mexico, Oakville, Kentucky, Ohio, EVs, United States, Edmunds, North America, Europe

☆ Disney may have a parks problem
▼ + stars: | 2024-08-07 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Disney Parks are the latest business to face slowing consumer demand in the face of higher prices. Disney’s parks business underperformed expectations and profit fell somewhat last quarter. It’s not just Disney that’s seeing a pullback — Bank of America Institute reported credit card transactions on travel ticked down in June. Disney’s domestic parks and international parks and cruises, though, are seeing different results: Disney’s international parks had increases in attendance and more rooms booked. The company noted that attendance at the parks was comparable to this time last year and spending per guest was up.

Persons: It’s, Hugh Johnston, ” Johnston, “, Marriott, “ We’ve Organizations: New, New York CNN, Disney Parks, Disney, of America Institute, Netflix, Hulu, ESPN, CNBC Wednesday Locations: New York

☆ Sony rules out renewing offer for Paramount, says it wouldn't fit strategy
▼ + stars: | 2024-08-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The Paramount Studios in Los Angeles, California, US on Monday, April 29, 2024. Sony's finance chief on Wednesday said the Japanese technology and media giant will not reconsider a fresh bid for film and TV production group Paramount Global . Sony currently has no plans to submit a revised offer for Paramount, said Hiroki Totoki, the company's chief financial officer. In a response to a question during Sony's fiscal first-quarter earnings presentation, Totoki said that an acquisition of Paramount "does not fit well with our strategy." Totoki's comments confirm reports on Tuesday from Japanese financial newspaper Nikkei, that Sony had decided not to make a new bid for Paramount Global after independent film studio Skydance Media struck a deal to acquire the media giant.

Persons: Hiroki Totoki, Totoki Organizations: Paramount Studios, Paramount Global, Sony, Paramount, Nikkei, Skydance Media Locations: Los Angeles , California

☆ Novo Nordisk shares dip as Wegovy maker posts earnings miss, cuts operating profit outlook
▼ + stars: | 2024-08-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Novo Nordisk Wegovy manufactured by Novo Nordisk packaging is seen in this illustration photo taken in a pharmacy in Krakow, Poland on April 8, 2024. EBIT — earnings before interest and tax — came in at 25.93 billion Danish kroner in the second quarter, which was also below the LSEG forecast of 26.86 billion Danish kroner. Novo Nordisk on Wednesday posted weaker-than-expected net profit in the second quarter and trimmed its operating profit outlook. Novo Nordisk CEO Lars Fruergaard Jørgensen on Wednesday said that the company was expecting "attractive growth" in the coming months. The drug was approved in China in the second quarter, opening it for sale in the world's second largest economy.

Persons: Jakub Porzycki, —, Wegovy, Lars Fruergaard Jørgensen, CNBC's, Roche, Jørgensen Organizations: Novo Nordisk Wegovy, Novo Nordisk, Getty, Nordisk Locations: Krakow, Poland, London, China

☆ Disney's theme parks are struggling, and it's another warning sign for the economy
▼ + stars: | 2024-08-07 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

Disney reported weaker-than-expected results for its theme-parks division in its latest earnings. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDisney's theme parks are struggling in another warning signal for the US economy. The entertainment giant reported weaker-than-expected results in its theme-parks division as it announced third-quarter earnings on Wednesday, in another sign that consumers are reining in spending as economic storm clouds gather.

Persons: — Organizations: Disney, Service, Business

☆ Beyonce, PlayStation games help Sony post a 10% jump in profits
▼ + stars: | 2024-08-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Here's how Sony did in the June quarter, versus LSEG consensus estimates:Revenue: 3.01 trillion Japanese yen ($20.5 billion), versus 2.8 trillion yen expected. Operating profit: 279.11 billion yen ($1.9 billion), versus 275.35 billion yen expected. Gaming, for which Sony is well-known thanks to its popular PlayStation consoles, banked revenues of 864.9 billion yen in the quarter, up 12% from 771.9 billion yen a year ago. For full-year 2024, Sony revised its forecast upward saying it now expects to hit 12.6 billion yen of sales. Sony also upped its operating profit forecast by 3%, noting it expects to reach 1.3 trillion yen in consolidated operating profit for the full year.

Persons: Carter Organizations: Sony, PlayStation

☆ SoftBank swings back to gains at Vision Fund tech arm, announces up to $3.4 billion share buyback
▼ + stars: | 2024-08-07 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

SoftBank Group booked a 1.9 billion yen ($12.9 million) investment gain on its Vision Fund tech investment arm in the company's fiscal first quarter ended in June, swinging back into the black. However, the Vision Fund segment as a whole posted a 204.3 billion yen loss, after being in profit in the same quarter last year. The Japanese giant also announced it would buy back up to 6.8% of shares available in the company amounting to up to 500 billion yen ($3.4 billion). In the year ago quarter, SoftBank posted 159.77 billion yen gain in its Vision Fund. In the March quarter, SoftBank posted a loss of 57.53 billion yen in its flagship tech investment arm.

Persons: ByteDance —, SoftBank Organizations: SoftBank, Corp, Vision Fund, Vision, Bank of Japan Locations: Tokyo, Japan

☆ No sign of U.S. recession in freight demand, CEO of shipping giant Maersk says
▼ + stars: | 2024-08-07 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Shipping giant Maersk, considered a barometer for global trade, is not seeing signs of a U.S. recession as freight demand remains robust, the company's chief executive said Wednesday. "We've seen in the last couple of years, actually, [the shipping container] market remaining surprisingly resilient to all the fear of recessions that there has been," Vincent Clerc told CNBC's "Squawk Box Europe" Wednesday, adding that container demand was generally a good indicator of underlying macroeconomic strength. The last week has seen a sudden escalation in worries about a recession in the world's biggest economy, the U.S., following a set of weaker-than-expected jobs data which has divided economists and market participants. U.S. retail trade inventories — a measure of unwanted build — in May were up 5.33% from a year ago at $793.86 billion, according to the most recent release from the U.S. Census Bureau. A report released by leasing platform Container xChange on Wednesday said indicators suggest inventories are higher than demand, meaning a less "prosperous time" in the coming months for container traders, the logistics market and retailers who stockpiled.

Persons: We've, Vincent Clerc, CNBC's, Clerc Organizations: Shipping, Maersk, U.S . Census Locations: U.S

☆ How the super-rich are building their luxury ‘safe house’ bunkers
▼ + stars: | 2024-08-07 | by ( Simon Usborne | ) edition.cnn.com time to read: +8 min

Yet it’s no longer enough for the security-conscious billionaire to stick an impenetrable safe room in the basement where it might sit empty forever. Courtesy SAFEThe house itself, Corbi said in an interview via Zoom, is ultra-secure with the blast-proof doors, unbreakable windows and biometric door-entry systems. Even 50 years ago, he says traditional bunkers looked like high-end hotels — “kind of like the Ritz Carlton, underground”. For hundreds of thousands, prefabricated modular steel bunkers can be dropped into the ground under a new-build house. The days when you can throw a first aid kit in a prefab bunker and say you’re safe are long gone.”

Persons: “ We’ve, ”, Al Corbi, ” Corbi, Mukesh Ambani, Anant, Corbi, Mark Zuckerberg, Bill Gates, Noemi Cassanelli, CNN Graham Harris, Harris, they’re, Covid, Naomi Organizations: CNN, SAFE, Ritz, Carlton, Ritz Carlton, Creative Home Engineering Locations: Virginia, Mumbai, Hawaii, London, Highgate, Arizona —

☆ These high-dividend-yielding stocks could see a rebound as rates decline, BMO says
▼ + stars: | 2024-08-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Now could be a good time to start buying stocks with high dividend yields, according to BMO Capital Markets. The highest-paying S & P 500 stocks have significantly underperformed the index over the last year and a half, even with the rebound they've enjoyed in recent months, said chief investment strategist Brian Belski. They are rated outperform by the firm's analysts and fall within the top 25% of S & P 500 stocks by dividend yield. Digital Realty Trust, which pays a 3.28% dividend yield, owns, develops and operates data centers — which are expected to see surging demand thanks to AI . Host Hotel & Resorts, which owns luxury and upper-upscale hotels, has a 4.92% dividend yield and is down 16% so far this year.

Persons: they've, Brian Belski, Belski, AbbVie Organizations: BMO Capital Markets, Federal, Fed, BMO, Pfizer, pharma, AbbVie, Cerevel Therapeutics, American Electric Power, Southern Company, Utilities, Digital Realty Trust, Host Hotels, Resorts Locations: Southern

☆ Nobel laureate Muhammad Yunus is chosen to lead Bangladesh after protests toppled Hasina
▼ + stars: | 2024-08-06 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +4 min

DHAKA, Bangladesh — Bangladesh’s Nobel laureate Muhammad Yunus has been chosen to head the country’s interim government after the nation’s longtime prime minister resigned and fled abroad in the face of violent unrest against her rule. During the investigations, Hasina accused Yunus of using force and other means to recover loans from poor rural women as the head of Grameen Bank. He was put on trial in 2013 on charges of receiving money without government permission, including his Nobel Prize and royalties from a book. In 2023, some former Grameen Telecom workers filed a case against Yunus accusing him of siphoning off their job benefits. Earlier this year, a special judge’s court in Bangladesh indicted Yunus and 13 others on charges over the $2 million embezzlement case.

Persons: Bangladesh — Bangladesh’s, Muhammad Yunus, Sheikh Hasina, Yunus, Hasina, Nahid Islam, ”, ” Yunus, Hasina’s, Yunus ’, “ Organizations: Olympics, Grameen Bank “, Grameen Bank, Grameen Telecom, Telenor, Vanderbilt University, Associated Press Locations: DHAKA, Bangladesh, bangladesh, Paris, Chittagong, United States

Harris expected to announce her VP pickBy the end of the day, the world will know who Kamala Harris’ 2024 running mate will be. This is Morning Rundown, a weekday newsletter to start your day. Simone Biles won the silver medal in the floor exercise, bringing her final Paris medal count to four: three golds and one silver. Google’s antitrust loss is a win for internet regulatorsIn a massive antitrust lawsuit ruling, a federal judge found that Google has an illegal monopoly on search engines and text advertisements. Despite some posts and influencers recommending close to 100 grams of protein per day, experts say the answer is far less.

Persons: Kamala Harris, Harris, Kamala Harris ’, Josh Shapiro, Sen, Mark Kelly of, Tim Walz —, JB Pritzker, Andy Beshear, Pete Buttigieg, Joe Biden, Donald Trump, Read, Simone Biles, Suni Lee, Biles, Jordan Chiles, Brazil’s Rebeca Andrade, Chiles, Andrade, Elsa, Gabby Thomas, McKenzie Long, Brittany Brown, Noah Lyles, Spain’s, Peacock, Debby, Biden, TikTok, dietitians, Cori Bush, Dan Newhouse, Trump, Clarence Thomas, Domenick Fini, he’s, — Melissa Chan, Elizabeth Robinson Organizations: Google, Pennsylvania, Minnesota Gov, Illinois Gov, Kentucky Gov, Paris, National Hurricane Center, U.S, Asad Air Base, NBC News, White, Republican, NBC, An Army, CDC, WHO, Marion County Record Locations: U.S, Philadelphia, Mark Kelly of Arizona, Minnesota, Kentucky, Paris, Los Angeles, ’, Spain, France, Morocco, Egypt, Tropical, Georgia, Florida, United States, South Carolina, North Carolina, Gainesville , Florida, Mississippi, Florida , Georgia, Iraq, Jordan, Israel, Lebanon, Iran, Missouri, Kansas , Michigan , Missouri, Washington, Kansas, Virginia

☆ New tech will trap CO2 from cargo ships and store it in the ocean
▼ + stars: | 2024-08-06 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +11 min

The dissolved calcium carbonate then reacts with the CO2 in the water to form bicarbonate salts, locking the CO2 away. Adkins says that with a full-scale reactor, he aims to capture and store about half of a ship’s CO2 emissions. BAR Technologies/Cargill French company Airseas has developed the Seawing, which it says could help ships cut their carbon emissions by an average of 20%. A British company called Seabound, for example, makes a device that captures between 25% and 95% of a ship’s CO2 emissions. “We think that ships are actually going to be able to compete with underground CO2 storage,” he said.

Persons: it’s, Jess Adkins, ”, Adkins, ” Adkins, Calcarea, Melissa Gutierrez, Pierre Forin, geochemist Will Berelson, Will Berelson, Airseas, Maxime Horlaville, Norsepower, Daniel Sigman Organizations: CNN — International, International Maritime Organization —, UN, California Institute of Technology, Caltech, University of Southern, USC, British Port Association, Cargill, BAR Technologies, de Bordeaux, Michelin, Norsepower, Anemoi, Technologies, Geophysical Sciences, Princeton University Locations: University of Southern California, Port of Los Angeles, Norway, Nantong, Vancouver, British

☆ What Google’s antitrust defeat means for the search giant and its partner Apple
▼ + stars: | 2024-08-06 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

The antitrust ruling against Google may not be the lose-lose scenario for the search giant and its key partner Apple that some are predicting. At the heart of the case is Google's exclusive relationship with device makers to be the default search engine on their screens. Google paid Apple $20 billion in 2022 alone for the privilege, according to recent court documents. AAPL YTD mountain Apple (AAPL) year-to-date performance "By collateral damage of course, this is negative for Apple," Jim said. Bank of America analysts tried to assuage Apple investors' concerns around services revenues.

Persons: Sherman, Kent Walker, Walker, Jim Cramer, Jim, —, Jim Cramer's, Jason Alden Organizations: Google, Apple, Barclays, Firefox, Yahoo, Bank of America, CNBC, Bloomberg, Getty Locations: U.S

☆ The core crew that helped Sam Altman start OpenAI has dwindled from 10 to 2
▼ + stars: | 2024-08-06 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

"We're grateful for John's contributions as a founding team member at OpenAI and his dedicated efforts in advancing alignment research," OpenAI said in a statement to TechCrunch. (I first met John in a cafe in Berkeley in… — Sam Altman (@sama) August 6, 2024This makes Schulman the eighth cofounder who has left OpenAI since its founding in 2015. — Greg Brockman (@gdb) August 6, 2024Besides Schulman, OpenAI has seen multiple exits among its leadership ranks in recent months. In May, OpenAI co-founder and chief scientist Ilya Sutskever announced his resignation from the company. To be sure, not everyone has left OpenAI on such acrimonious terms.

Persons: —, John Schulman, Schulman, Altman, OpenAI, John, … — Sam Altman, — Altman, Wojciech Zaremba, Greg Brockman, Brockman, Ilya Sutskever, he'd, OpenAI's, Jan Leike, Leike, Elon Musk, Musk, Roboticist Trevor Blackwell, Vicki Cheung, Durk Kingma, Pamela Vagata, Andrej Karpathy, Karpathy, Tesla, OpenAI didn't Organizations: Service, Business, Superintelligence Inc, OpenAI, Microsoft, Google, ChatGPT, EV giant's, Business Insider Locations: OpenAI, Berkeley, …

☆ 5 reasons why Uber is on the up
▼ + stars: | 2024-08-06 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

After years of massive losses, Uber is finally making money. Uber partly owes its recent hot streak to increased demand for its ride-hailing and delivery services. Go to newsletter preferences Thanks for signing up! AdvertisementAfter years of massive losses and huge spending, Uber is now making a habit of turning a profit. This comes after Uber announced its first-ever annual operating profit of $1.1 billion for 2023 in February.

Persons: Uber, — Organizations: Service

☆ Why Google should feel nervous about OpenAI's SearchGPT, according to a search engine expert
▼ + stars: | 2024-08-06 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Read previewWith the recent launch of SearchGPT, OpenAI has positioned itself to compete with Google in the search engine market. The new tool allows users to search the web in real time and automatically summarize results from Microsoft's Bing. Chris Rodgers, the CEO at SEO agency CSP, has worked in the search engine industry for over 20 years. He told Business Insider that SearchGPT may not pose an immediate threat to Google Search. He also said Google should feel the heat because OpenAI has presented a better strategy than Google in its rollout of SearchGPT.

Persons: —, OpenAI, Microsoft's Bing, hasn't, Chris Rodgers, Rodgers, that's, Axel Springer, SearchGPT, it's Organizations: Service, Google, Business, Astra, Vox Media, News Corp Locations: ChatGPT

☆ Oil giant Saudi Aramco's second-quarter profit dips 3% on lower crude production volumes
▼ + stars: | 2024-08-06 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Members of media chat before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. Saudi state oil giant Aramco reported $29.1 billion in net profit for the second quarter, a dip of just over 3% from the same period last year as crude production volumes remained low. Net income from the first half of the financial year was $56.3 billion, down from $62 billion during the same period last year. The firm also posted free cash flow for the second quarter of $19 billion compared to $23.2 billion one year prior. Aramco reaffirmed its second-quarter base dividend of $20.3 billion, and declared a performance-linked dividend of $10.8 billion to be paid in the third quarter.

Persons: Amin Nasser, Capital, Brent Organizations: Aramco, Plaza Conference, Al Locations: Dhahran, Saudi Arabia, Saudi, Riyadh

☆ Apple wants to rewire search with AI — and that may help cut the Google cord
▼ + stars: | 2024-08-06 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

In reality, however, Apple may not have to worry too much if it does have to reduce its reliance on Google for search on its devices. In other words, Apple hopes that AI can intelligently answer queries and support user needs by understanding what actually matters to users. Related storiesPart of Apple Intelligence also involves a revamped Siri, Apple's chatbot that users can supercharge by offering permission to connect to OpenAI's industry-leading technology, ChatGPT. It's unlikely to find a deal as lucrative as the one it got with Google on search anytime soon, either. AdvertisementStill, Apple's bet on AI gives it a chance to present consumers with an alternative way to search the internet.

Persons: —, Hugh Langley, Tim Cook, Siri, Apple's, ChatGPT, it's, Monday's, OpenAI Organizations: Service, Google, Business, Apple, Apple Intelligence, company's, Conference Locations: Washington, Silicon

☆ Jim Cramer touts Caterpillar's quarter — plus, his thoughts on 4 more stocks
▼ + stars: | 2024-08-06 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Caterpillar : The industrial giant's second-quarter results beat Wall Street estimates on the top and bottom lines. While the stock has been in both positive and negative territory Tuesday, Jim Cramer said, "I happen to like the quarter." Uber : Shares jumped more than 8% after the ride-hailing provider reported stronger-than-expected quarterly results. Kenvue : The maker of Listerine and Tylenol reported quarterly sales and per-share profits ahead of Wall Street expectations.

Persons: Jim Cramer's, Jim Cramer, Piper Sandler, Delta, Cramer, Jim, Dara Khosrowshahi Organizations: CNBC, Club, Caterpillar, Wall Locations: U.S

☆ The Meaning of Philippe Petit’s Twin Towers Walk - The New York Times
▼ + stars: | 2024-08-06 | by ( Colum Mccann | ) www.nytimes.com time to read: +1 min

Fifty years ago on Wednesday, the French high-wire artist Philippe Petit carried his life a quarter of a mile through the New York City sky on a tightrope. When asked why, he said it was simply because the World Trade Center towers were there. “If I see two towers, I have to walk,” he told The New York Times. We are living in high-wire times, with anxiety and fracture all around us, and it is the job of the artist to show that we can, in fact, get from one side to the other. He didn’t defy gravity; he aligned himself with it, and in so doing he allowed us to defy our own possible falling down.

Persons: Philippe Petit, ”, Petit, Frenchman Organizations: New, World Trade, New York Times Locations: New York

☆ Stocks making the biggest moves premarket: Palantir, Caterpillar, Yum China, CrowdStrike and more
▼ + stars: | 2024-08-06 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines before the bell: Palantir Technologies — The data analytics company rallied 11% after raising its full-year revenue forecast. Yum China — Shares surged 8% after the Shanghai-based operator behind Pizza Hut and Taco Bell posted second-quarter earnings that beat expectations. Adjusted earnings of 55 cents per share topped the 47 cents per share anticipated by analysts surveyed by LSEG. Earnings came in at 47 cents per share, topping the 31 cents expected from analysts polled by LSEG. CSX reported earnings of 49 cents per share in the second quarter, above the 48 cents anticipated by analysts in an LSEG survey.

Persons: Taco Bell, Piper Sandler, ZoomInfo, LSEG, Lucid, — CNBC's Michelle Fox, Fred Imbert, Jesse Pound Organizations: Technologies, Taco, LSEG, Revenue, Caterpillar, Nvidia, Micro Computer, Broadcom, Intel, CSX Locations: China, Shanghai

☆ Logan Paul's Prime supplier is suing the energy drink company for $68 million, accusing it of cutting ties as demand cratered
▼ + stars: | 2024-08-06 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

Refresco accuses Prime of failing to order the required amount during the first year of the contract, incurring a penalty payment. It's not the only lawsuit Prime is facing. In late April, a class-action lawsuit was filed accusing the brand of mislabeling the amount of caffeine in each drink. Prime filed a motion to dismiss the lawsuit. A similar lawsuit filed in 2023 was voluntarily dismissed.

Persons: —, Logan Paul —, Refresco, Paul, Ksi, It's, Sen, Chuck Schumer, they're, dink Organizations: Service, Business, Bloomberg, Refresco, Olympic, Paralympic, Games, USA Locations: Delaware, United States

☆ Taco Bell could hold the secret formula for bringing customers back to fast food
▼ + stars: | 2024-08-06 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Fast food giant Yum Brands is going all in on value — but only Taco Bell is performing well enough to immediately bring back inflation-weary customers. But Gibbs said Taco Bell is outperforming its rivals in the fast food industry. “I think we’re really seeing Taco Bell stand out from the crowd,” he said to investors. Of the three, only Taco Bell’s US same-store sales grew in the second quarter of 2024, at 5%. The earnings call highlighted how fast food and fast casual chains are struggling to retain customers who believe it is cheaper to just eat at home.

Persons: Taco Bell, David Gibbs, Gibbs, ”, Chipotle, Taco, ” Gibbs, YUM, Chris Turner, Burger, Bell, Lawrence Kim, Yum, CNN’s Clare Duffy Organizations: New, New York CNN, Yum Brands, KFC, Taco, ! Brands, CNN Locations: New York, East, Malaysia, Indonesia, Israel

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