DIRS.INFO The most relevant business & tech news

☆ AI drive-thru ordering is on the rise — but it may take years to iron out its flaws
▼ + stars: | 2024-07-03 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

The drive-thru menu at a McDonald's restaurant showing various meal options and promotions, in Buttonwillow in Kern County, California, on 23, 2024. This year, 16% of restaurant operators plan to invest in artificial intelligence, including voice recognition, according to a survey from the National Restaurant Association. Then Covid came, which not only accelerated labor costs but also led to a shift away from dining rooms and toward drive-thru lanes. Then there's Presto Automation , the AI drive-thru technology company which disclosed last year in Securities and Exchange Commission filings that it uses "human agents" in places like the Philippines and India to complete orders. This time, McDonald's likely won't be the first mover.

Persons: Covid, McDonald's, Gee Lefevre, T.D, Cowen, Andrew Charles, That's, Uber, Charles Organizations: National Restaurant Association, IBM, Securities, Exchange Commission, Presto Locations: Buttonwillow, Kern County , California, Philippines, India

☆ A Guide to Ismail Kadare’s Books
▼ + stars: | 2024-07-01 | by ( Amelia Nierenberg | ) www.nytimes.com time to read: 1 min

Ismail Kadare, the most celebrated Albanian author in a generation, was a prolific writer who often found ways to criticize the country’s totalitarian state, despite the risks involved. He died on Monday in Tirana, Albania’s capital, at 88. Kadare rose to international fame during one of Albania’s darkest chapters: the dictatorship of Enver Hoxha, the Communist tyrant who died in 1985. He walked a careful line, alternately criticizing and placating the regime. In the mid 1980s, he had to smuggle his manuscripts out of the country.

Persons: Ismail Kadare, Kadare, Enver Hoxha Locations: Albanian, Europe, Tirana, Communist

☆ These could be the next big food and beverage trends
▼ + stars: | 2024-06-29 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

More than 2,400 companies exhibited their foods and drinks for attendees, which include restaurant operators, specialty food retailers and trendspotters. Past show trends that are making their way to mainstream consumers' palettes include yuzu, mushrooms and sophisticated alcohol substitutes. Tinned fishKrill Arctic Foods' tinned krill meat Amelia Lucas | CNBCIn years past, tinned fish was relegated primarily to booths in the Spanish and Portuguese pavilions. TikTok helped fuel the tinned fish trend last year, boosting sales of canned sardines. Companies at the Summer Fancy Food Show showed off some new options to level up the charcuterie — especially the salami.

Persons: Jacob K, Jerry's, Amelia Lucas, Honey, Bee, Fish, Salumi Organizations: Specialty Food Association, Javits Convention, Products, CNBC, Acme, International, Companies Locations: New York, caffe, Spanish, Alaska

☆ Megan Stalter’s Scorpio Ring
▼ + stars: | 2024-06-29 | by ( Amelia Diamond | ) www.nytimes.com time to read: +1 min

Megan Stalter has lost almost every piece of jewelry she’s ever owned. But she’s determined to flip the script on the Scorpio signet ring that she wore for a recent interview with The New York Times. Ms. Stalter’s girlfriend wears another ring just like it. Ms. Stalter found the matching rings at a store in Hollywood that sells jewelry, greeting cards and crystals. The 33-year-old actress, in an interview that has been edited and condensed, talked about the ring that she has refused to lose, and why it is worth holding onto.

Persons: Megan Stalter, she’s, Stalter’s, Stalter, ”, Lena Dunham, Cora Bora Organizations: The New York Times, Max Locations: Hollywood

☆ The most visionary, successful people always do 3 things when talking to others: It’s ‘make or break’ for effective communication
▼ + stars: | 2024-06-28 | by ( Noah Zandan | ) www.cnbc.com time to read: +3 min

In my career, I've spent the last 12 years studying how the most successful, effective, and influential people speak. Over time, I noticed that there was a missing factor in our models that could make or break these deals: effective communication. Here are three communication strategies the most visionary leaders use. They use clear and simple languageWhen visionaries speak, they aren't overly complex or theoretical. Another visionary example I love comes from Nelson Mandela, who famously said "education is the most powerful weapon which you can use to change the world."

Persons: I've, Franklin Delano Roosevelt, Martin Luther King Jr, Wright, Amelia Earhart, Greta Thunberg, Sheryl Sandberg, we've, Nelson Mandela Organizations: TED, Economic

☆ Skip Nvidia? Value investor David Katz is betting on 4 'lower risk' stocks instead
▼ + stars: | 2024-06-28 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

"There are better places to make money with a lot lower risk," he added, naming several stocks he likes right now. "Right now, technology stocks are selling at 30 and 40 times earnings. The markets are at 22 times earnings. Trading at 22 times forward earnings, he said the stock offers "a great business at a very good price." The market is 21 times earnings.

Persons: David Katz, CNBC's, Katz, We're, — CNBC's Amelia Lucas Organizations: Nvidia, Cisco Systems Technology, Cisco Systems, Cisco, Starbucks, Bank of New York Mellon, PNC Financial Services Locations: U.S, Israel

☆ Fast-food customers are shifting to casual-dining chains, Darden Restaurants CEO says
▼ + stars: | 2024-06-20 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Casual-dining chains are gaining customers who have grown frustrated with higher fast-food prices, Darden Restaurants CEO Rick Cardenas said on Thursday. Chili's rolled out an ad campaign that calls out the Big Mac and other fast-food burgers for their prices. Dine Brands CEO John Peyton told CNBC in May that Applebee's has been leaning into deals to win over fast-food diners. The overall consumer price index rose 3.3% in that period. In particular, McDonald's has faced backlash from customers, social media users and even House Republicans for its higher prices.

Persons: Rick Cardenas, Darden, hasn't, Brinker, Chili's, John Peyton, Applebee's, Cardenas, McDonald's, Joe Erlinger Organizations: Darden, Brinker International, Dine Brands, CNBC, of Labor, Republicans Locations: U.S

☆ Darden beats on earnings, even as Olive Garden, fine-dining sales drag
▼ + stars: | 2024-06-20 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Darden Restaurants on Thursday reported mixed quarterly results as Olive Garden's same-store sales fell for the second consecutive quarter. For fiscal 2025, Darden is forecasting that its same-store sales will grow just 1% to 2%. Darden's overall same-store sales were flat for the quarter, dragged down by weaker-than-expected sales at Olive Garden and its fine-dining restaurants. Last quarter, Olive Garden's same-store sales fell 1.8%, driven by a pullback from low-income consumers. LongHorn Steakhouse, which is overtaking Olive Garden as the gem of Darden's portfolio, was the only segment to report same-store sales growth.

Persons: Olive Garden's, Darden, Chris Steak, Eddie V's, Chris, Ruth's Chris Organizations: Darden, LSEG, Olive, LongHorn Locations: Olive

☆ Cocoa prices are soaring. Candy makers will need to get creative
▼ + stars: | 2024-06-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +7 min

Prices of cocoa have more than tripled over the last year, creating a big headache for candy makers and other food companies that use the ingredient to make chocolate. The price surge has since eased off slightly, but the crop is still commanding well above what food companies are used to paying. This season's cocoa crop is expected to experience the largest deficit in at least six decades, according to a Rabobank report from May. A YouGov survey conducted in October found that 72% of U.S. respondents had noticed shrinkflation in food products. J&J Snack Foods CEO Daniel Fachner has been keeping an eye on cocoa and chocolate prices.

Persons: Ferley Ospina, Hershey, Kinder, Ferrero, they'll, Steve Rosenstock, Mondelez, shrinkflation, Daniel Fachner, Fachner, Justin Sullivan, Nik Modi, Modi, shea, Rosenstock Organizations: Bloomberg, Getty, Cadbury, Clarkston Consulting, Rabobank, Reuters, Mondelez, Consumers, Snack, CNBC, RBC Capital, Jumbo Locations: Ragonvalia, Norte de Santader, Colombia, . West Africa, Ghana, U.S, Novato , California, West

☆ R.O. Kwon’s Jade Rings
▼ + stars: | 2024-06-15 | by ( Amelia Diamond | ) www.nytimes.com time to read: +1 min

Two jade rings in particular, passed down by her mother, serve as a direct line and source of comfort. Ms. Kwon, an award-winning author, wanted to be a Christian pastor or a religious recluse when she was growing up. She had, as she put it, “what felt like a conversation with the Lord going.” But she lost her faith as a teenager. Now, in her writing, Ms. Kwon explores the challenge of questioning long-held beliefs. Her first novel, “The Incendiaries,” tackled religion, while her second, “Exhibit,” out last month, is about hidden desire.

Persons: Kwon, ”, “, Ms

☆ Tyson Foods suspends CFO after second arrest
▼ + stars: | 2024-06-13 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

John R. Tyson speaks on stage during The Fight for Food: Value Chains and Partnerships at The 2022 Concordia Annual Summit in New York on September 21, 2022. Tyson Foods said on Thursday it has suspended its chief financial officer, John R. Tyson, after he was charged with driving while intoxicated in Arkansas. Tyson Foods is headquartered in Springdale, Arkansas. In 2022, two months after being named CFO of the meat giant, Tyson was arrested after becoming intoxicated and falling asleep in the wrong house. Tyson is the son of the company's chairman, John H. Tyson, and the great-grandson of founder John W. Tyson.

Persons: John R, Tyson, Tyson Foods, Curt Calaway, John H, John W Organizations: Detention, Tyson Foods Locations: New York, Arkansas, Washington, Springdale , Arkansas

☆ Why high-end calligraphy is so expensive
▼ + stars: | 2024-06-11 | by ( Enxhi Dylgjeri | Amelia Kosciulek | ) www.businessinsider.com time to read: 1 min

Once a practical way to transcribe, calligraphy has evolved into a fine art. As the practice we recognize today spread across East Asia, countries like China, Japan, and Korea developed their own methods of creating high-quality calligraphy tools. Top-of-the-line brushes can cost $1,000, and quality ink sticks can reach multiple thousands of dollars. And while dedicated master craftsmen worry about the future of traditional calligraphy tools, younger calligraphers swear by the quality of these handmade items. So why are calligraphers willing to spend so much just to write?

Persons: calligraphers Organizations: Business Locations: East Asia, China, Japan, Korea

☆ McDonald's might never expand CosMc's. But the spinoff could still pay dividends
▼ + stars: | 2024-05-28 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Nearly six months since McDonald's opened its first CosMc's location, the hours-long drive-thru lines have died down, but the chain is just getting started. Since opening the initial location in the Chicago suburb of Bolingbrook, McDonald's has opened three more CosMc's restaurants, all in Texas. In another sign of the new brand's expansion, it will launch its own mobile app and loyalty program, called CosMc's Club, on Tuesday. And loyalty program members earn 10 points for every dollar they spend; once they rack up 400 points, they can redeem them for $2 rewards. CosMc's buzz dies downAt McDonald's December investor presentation, Kempczinski downplayed the short-term effect of CosMc's.

Persons: McDonald's, Chris Kempczinski, Katie Belflower, CosMc's, Mark Kalinowski, Kempczinski, we're, Frappes, Weeks, Kalinowski, Amelia Lucas Organizations: Lone Star State, CosMc's, Kalinowski Equity Research, CNBC, Intouch Locations: Chicago, Bolingbrook, Texas, McDonald's, Illinois

☆ Why French Oak Barrels Are so Expensive
▼ + stars: | 2024-05-21 | by ( Chris Snyder | Amelia Kosciulek | ) www.businessinsider.com time to read: 1 min

Luxury winemakers producing some of the most expensive wine in the world will pay up to $50,000 for a single barrel to age their wine. But not just any barrel — a foudre. A foudre is a massive wooden vat that impacts and preserves the overall taste of the wine. Making a foudre starts with French oak, a tightly grained wood that adds unique flavoring to the wine. The wood is so precious — and so expensive — that the French government heavily regulates its sales through annual auctions of oak forest plots.

Organizations: Business

☆ Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users
▼ + stars: | 2024-05-21 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy. In October, Walmart's U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories. But Nestle sees an opportunity to cater to those consumers through Vital Pursuit. Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media. The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.

Persons: Oprah Winfrey, Elon, Morgan Stanley, John Furner, Nestle, Steve Presley, Laffy, Ferrero, Presley Organizations: Nestle, Walmart's U.S, Bloomberg, Vital, North, CNBC, Toll, Lean, Swiss Locations: U.S, GLP

A sign is posted on the exterior of a Red Lobster restaurant on April 17, 2024 in Rohnert Park, California. Red Lobster has filed for Chapter 11 bankruptcy protection, continuing the process to shrink its footprint and find a buyer, the company said in a statement. CNBC reported last month Red Lobster was seeking a buyer, weighed down by significant debt and long-term leases. At the time, it was tough to predict that Red Lobster would see sales drop as much as they have. "This restructuring is the best path forward for Red Lobster," Tibus said in a statement late Sunday.

Persons: — Jonathan Tibus, Alvarez, Marsal, Tibus, Red, we've, General Mills, Darden, Kim Lopdrup, Paul Kenny's, Kenny Organizations: CNBC, Golden, Darden, Food, General, Thai Union Group, Thai Union, Red Lobster, Seafood Alliance, Thai Locations: Rohnert Park , California, U.S, Canada, Orlando , Florida, Olive, Thai

"Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending," McDonald's CEO Chris Kempczinski said on the company's conference call in late April. Paul Weaver | SOPA Images | Getty ImagesFor more than two years, consumers have dealt with sharply rising prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch. While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.

Persons: Chris Kempczinski, Burger, Paul Weaver, Jerome Powell, Aurelia Concepcion, Concepcion, it's, Joe Raedle, Brett House, John David Rainey, Ramon Laguarta, Ed Bastian, We're, Daniel Slim, Brian Niccol, Calvin McDonald, Laxman Narasimhan, Sara Senatore, Spencer Platt Organizations: DAL, Washington Post, Home, Delta Air Lines, Consumers, of Labor, CPI, KFC, Starbucks, Columbia Business School, Walmart, Finance, CNBC, PepsiCo, Gatorade, Pepsi, United, Delta Airlines Boeing, Owen Roberts International, AFP, Getty, Delta, Target, Bank of America Locations: Manhattan, Bloomsburg , Pennsylvania, New York, Georgia, Ohio, Miami , Florida, U.S, Delta, Europe, Asia, Japan, George Town, Cayman Islands, New York City

The Joint Program Office declined to comment to Military.com regarding the restriction. A spokesperson for the Marine Corps could not provide details on the restriction but said efforts are underway to return the aircraft to full operations. Pedro Caballero, a spokesperson for the Marine Corps, told Military.com when asked whether the restrictions applied to its roughly 350 Ospreys, the vast majority of the military's fleet. US Marine Corps MV-22B Ospreys take off at Port Darwin in Australia. An MV-22B Osprey conducts an external lift with US Marines during helicopter support team training at Marine Corps Air Station in Miramar, California.

Persons: —, Military.com, Beth Teach, Cpl, Juan Torres, Capt, Pedro Caballero, Caballero, Colton Martin Lt, Rebecca Heyse, Amelia Kang, Brian Taylor, Taylor, Juan Paz Taylor Organizations: Service, Force, Marine Corps, Ospreys, Business, Navy, Naval Air Forces, Office, Naval Air Systems Command, Royal Australian Air Force Base, US Marine Corps, Corps, Port Darwin, Air Force Special Operations Command, Greyhound, House Armed Services, US Marines, Marine Corps Air, Services, Aviation, Air Force, Marines, Program Office, Marine, US Air National Guard, Staff Locations: Japan, Port, Australia, Miramar , California, Darwin, Washington ,, Lemonnier, Djibouti

☆ Walmart says more diners are buying its groceries as fast food gets pricey
▼ + stars: | 2024-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Walmart wants diners to find a value meal in its grocery aisles. As fast food gets pricier, the nation's largest grocer sees a sales opportunity. As customers see some grocery items stay the same price or even become cheaper, the gap between buying menu items and cooking food at home has grown even wider, he said. As of April, the price of food at home, a category that measures the total cost of food purchased at grocers or other food stores, was up 1.1% year over year. The price of food away from home rose significantly more: 4.1% year over year.

Persons: John David Rainey, McDonald's, Chris Kempczinski, John Furner, Furner, — CNBC's Amelia Lucas Organizations: Walmart, CNBC, Yum Brands, Management Solutions, Restaurant, U.S . Labor Department, Walmart U.S Locations: U.S, Connecticut

☆ McDonald's $5 value meal is coming in June — and staying for just a month
▼ + stars: | 2024-05-15 | by ( Kate Rogers | ) www.cnbc.com time to read: +2 min

McDonald's is set to offer a $5 value meal in the U.S., but only for a limited time. "We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising. That's been true since our very beginning and never more important than it is today," McDonald's said in a statement to CNBC. CNBC last week reported the fast-food giant was working to bring a value offering to menus, with details being discussed and voted on by franchisees. McDonald's recently reported a mixed first quarter, with U.S. same-store sales slightly missing expectations.

Persons: That's, McDonald's, Chris Kempczinski, John Palmaccio, — CNBC's Amelia Lucas Organizations: CNBC, U.S, National Advertising Fund Locations: U.S

☆ Fat Brands confidentially files to IPO Twin Peaks, Smokey Bones brands days after federal indictment
▼ + stars: | 2024-05-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Fat Brands announced its intention to spin off Twin Peaks through an IPO last year. Since its founding in 2005, Twin Peaks has grown to nearly 115 restaurant locations in the U.S. and Mexico. Smokey Bones is a newer addition to Fat Brands' portfolio, which currently includes 18 chains. Fat Brands acquired it in September 2023, with the goal of converting more than half of its 61 corporate-owned restaurants into Twin Peaks locations. Wiederhorn has a 45% stake in Fat Brands through Fog Cutter Holdings, according to FactSet.

Persons: Brands, Smokey, Andy Wiederhorn, Smokey Bones, Darden, Wiederhorn Organizations: Fat Brands, Securities and Exchange, Brands, SEC, Hooters, Olive Garden, Fog Cutter Locations: Wiederhorn, Los Angeles, U.S, Mexico, Olive, Twin

☆ Sweetgreen, Chipotle and other fast-casual chains are bucking the consumer slowdown
▼ + stars: | 2024-05-11 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

High-income consumers helped Chipotle Mexican Grill , Wingstop and Sweetgreen report strong sales this quarter, bucking the broader consumer slowdown that's been hurting other eateries. The sector saw higher traffic growth than any other dining sector from November to February, according to GuestXM data. High-income consumers haven't felt the same pinch as those in lower-income brackets. Wingstop saw its same-store sales soar 21% in the quarter. On Thursday, the salad chain reported first-quarter same-store sales growth of 5% and raised its full-year outlook for same-store sales growth.

Persons: Chris Kempczinski, John Peyton, haven't, Wingstop, Michael Skipworth, Jonathan Neman Organizations: Starbucks, KFC, Yum Brands, CNBC, Dine Brands

☆ McDonald’s is working to introduce a $5 value meal
▼ + stars: | 2024-05-10 | by ( Kate Rogers | ) www.cnbc.com time to read: +2 min

McDonald's is working to introduce a value meal in U.S. stores to help offset an increasingly challenging environment for consumers, two people familiar with the matter told CNBC. The value meal was first reported by Bloomberg News. The potential new offering comes at a time when low-income consumers are beginning to pull back on spending, particularly at fast-food brands. Mentions of low-income consumers on company earnings calls are at their highest levels in nearly two years, according to data from Bank of America. An initial proposal by McDonald's for the $5 value meal did not clear necessary hurdles, and additional details are now being discussed, according to a person familiar with the process.

Persons: McDonald's, Dave, Buster's, Chris Kempczinski, Kempczinski, Ian Borden, — CNBC's Amelia Lucas Organizations: CNBC, Bloomberg News, Bank of America, McDonald's, U.S Locations: U.S

☆ Fat Brands and chair Andy Wiederhorn indicted in $47 million 'sham' loan scheme
▼ + stars: | 2024-05-10 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Federal authorities on Friday charged Fat Brands and its chair Andy Wiederhorn of committing a brazen scheme that netted him $47 million in bogus loans from the restaurant company that owns Fatburger, Johnny Rockets and Twin Peaks. Fat Brands, Wiederhorn and a few other people were criminally indicted by a federal grand jury in Los Angeles for wire fraud, tax evasion and other counts related to the alleged scheme. "These charges are unprecedented, unwarranted, unsubstantiated and unjust," Fat Brands counsel Brian Hennigan said in a statement. As chief executive of Fat Brands, Wiederhorn, 58, allegedly directed the company to loan its own funds to him, with no intention of ever paying the "sham" loans back, according to the indictment. He also did not report any of the so-called loans from Fat Brands as income, according to the indictment.

Persons: Andy Wiederhorn, Johnny, Brian Hennigan, Wiederhorn, overreach —, Nicola Hanna, Wiederhorn's, Thayer, Ron Roe, Rebecca Hershinger, William Amon Organizations: Brands, Johnny Rockets, U.S . Securities, Exchange Commission, Fat Brands, SEC, Fog, Wiederhorn Locations: Los Angeles, Oregon, U.S

☆ McDonald's is betting on its mobile business with new franchisee digital marketing fund
▼ + stars: | 2024-05-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

McDonald's U.S. franchisees will start paying into a digital marketing fund next year as the fast-food giant looks to expand its booming digital business, according to a memo viewed by CNBC on Thursday. Loyalty program members accounted for more than $6 billion in system-wide sales globally during McDonald's first quarter. The company has 34 million active digital customers in the U.S. By comparison, Chipotle Mexican Grill has 40 million loyalty members, while Starbucks has 32.8 million. In December, McDonald's said it aims to reach 100 million loyalty program members by 2027. Franchisees in the U.K., Canada, Australia and Germany will also pay into the global digital marketing fund.

Persons: Tariq Hassan, Whitney McGinnis, McDonald's Organizations: CNBC, Grill, Starbucks Locations: U.S, Canada, Australia, Germany

Search resuls for: "Amelia"

25 mentions found