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☆ Campbell Soup Company buys Sovos Brands, maker of Rao’s for $2.7 billion
▼ + stars: | 2023-08-07 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Iconic canned soup company Campbell is expanding its reach in the Italian food market. Campbell (CPB) announced Monday that it would acquire Sovos Brands, maker of the popular Italian food brands like Rao’s sauces and Michael Angelo’s frozen entrees, as well as noosa yogurt, in a deal worth $2.7 billion. But Campbell said Rao’s sauces attract a different consumer set than Prego’s. “Rao’s is the premium, market-leading sauce and it strengthens and diversifies our Meals & Beverages portfolio, complementing the core, mainstream portfolio,” the company told CNN. Sovos Brands founder and head Todd Lachman called the acquisition a “momentous occasion.”“We have built a one-of-a-kind, high growth food company focused on taste-led products across a portfolio of premium brands, anchored by the Rao’s brand,” he said in a statement included in Campbell’s news release.

Persons: Campbell, Angelo’s, “ We’re, ”, Mark Clouse, Rao’s, Michael Angelo’s, Todd Lachman Organizations: New, New York CNN, Campbell, Sovos Brands, Beverages, CNN, “ Locations: New York, noosa, “ noosa

☆ How Cooking Videos Took Over the World
▼ + stars: | 2023-08-07 | by ( Priya Krishna | Umi Syam | ) www.nytimes.com time to read: +9 min

Cooking videos have never been more persuasive, more inescapable, more addictive, more entertaining. How Cooking Videos Took Over The WorldVideos on TikTok with the #foodtok hashtag have been viewed more than 64 billion times. But cooking videos are not only an unavoidable part of being online — they’ve also infiltrated physical spaces. That is what makes these videos so engaging.”Today, there isn’t just one way to make a successful cooking video. But the evolution of cooking videos represents a broader shift: Algorithms and artificial intelligence increasingly drive everyday behaviors and can stifle creativity.

Persons: they’ve, Julia Child, Joyce Chen, ”, Ashley Rose Young, —, John Gara, … TikTok, Covid, Sunny Xun Liu, “, Bennett, Hetal Vasavada, soothingly, Althea Brown, Frankenfood, Gara, Bacon, Ahmad Alzahabi, Liu, Vasavada, that’s, they’re Organizations: Department of Motor Vehicles, Smithsonian Institution, Food Network, “ East, YouTube, Facebook, Stanford Social Media, “ Locations: New York City, United States, TikTok, Denver

REUTERS/Lewis Jackson/File PhotoSYDNEY, Aug 6 (Reuters) - Australia will drastically tighten penalties for promoters of dodgy tax schemes and beef up the power of regulators as part of reforms announced on Sunday in response to a scandal over the use of leaked tax plans by PwC Australia. PwC Australia was not fined for the breach under the existing rules, and the changes will not applied retroactively, a Treasury spokesperson told Reuters. "The PwC scandal exposed severe shortcomings in our regulatory frameworks," said the statement from the ministers for treasury and finance and the attorney general. The Australian Tax Office (ATO) foiled several attempts by companies to subvert the 2016 Multinational Anti-Avoidance Law but was frustrated in its subsequent investigation by "highly ambitious if not false" legal privilege claims from PwC Australia. Collins and PwC Australia were not sanctioned until late 2022 by a separate agency that regulates tax agents, the Tax Practitioners Board, after police said there was insufficient information for them to act.

Persons: Lewis Jackson, Peter Collins, Collins, William Mallard Organizations: REUTERS, PwC, Facebook, Bills, Reuters, Australian Tax, Thomson Locations: Barangaroo, Australia, PwC Australia

☆ New York City's viral diner is a family affair. See how dad, mom, brother and sister took Datz Deli from $300 a day in revenue to $7,000.
▼ + stars: | 2023-08-06 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Datz Deli of Queens is a family business making headlines for its unique menu items. It's home to the Dat Mac Patty, a Caribbean beef patty sandwich stuffed with meat and mac and cheese. But this one's unique food is projected to bring in more than $1 million in earnings in its first year open. I visited Datz Deli last month after witnessing more than a few viral posts gushing over its monstrous, yet delicious-looking, stuffed Caribbean-style beef patty sandwich. Here's my experience behind the counter and as a customer at Datz Deli.

Persons: Patty, Datz, Sunita Pherai, Joshua Dat, she'd, Dat Organizations: Service, New Locations: Queens, Caribbean, Wall, Silicon, —, New York City, Hollis Avenue

☆ 7 slang terms you'll only know if you work at Walmart
▼ + stars: | 2023-08-05 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Insider spoke to Walmart employees about the slang terms they use at work. Insider asked current Walmart employees about the words they hear at work. According to one Walmart employee, it can happen when they have more product than what fits on the shelf. While officially, it's called OneWalmart, employees told Insider that everyone just calls it "The Wire." Meat WallThe meat wall is where Walmart stores stock their meat products — from ground beef to chicken to deli meats.

Persons: it's, It's, David J, Phillip, you'll, Jeffrey Greenberg Organizations: Walmart, Service, Privacy, Universal, Getty, Mule Walmart Locations: Wall, Silicon, Texas

Keep reading for details on how to watch Paul vs. Diaz live streams once the bell tolls. How to watch Paul vs. Diaz live stream from anywhereThe UK has the best PPV price for Paul vs. Diaz. How to watch Paul vs. Diaz live streams in the USADAZN will also offer the pay-per-view event in the US. Paul vs. Diaz PPV Fight Bundle (ESPN+) Jake Paul vs. Nate Diaz will stream live on ESPN+. How to watch Paul vs. Diaz in AustraliaKayo Sports will offer the championship bout for Australian viewers.

Persons: Jake Paul, Nate Diaz, Diaz, Paul, he's, Amanda Serrano, Heather Hardy, DAZN, Cox, ExpressVPN, It's, CEST, UK's DAZN, Shadasia, Olivia Curry, Ashton Sylve, William Silva, Alan Sanchez, Angel Beltran Villa, Chris Avila, Jeremy Stephens Organizations: American Airlines Center, Paul, UFC, Amazon, Apple, Android, Samsung, LG, PlayStation, TV, Xbox, ESPN, ESPN Plus, Samsung Smart, DAZN's, Sports, UK's Locations: Dallas , Texas, USA, Australia

We recommend Snake River Farms as the best option in our guide to the best meat delivery services in the 'best high-quality variety' category. Head over to the Beef Week sale page and save big on various mix-and-match steaks with the Snake River Farms promo code: BEEFWEEK. Save up to 35% on Snake River Farms meat deliveryDeal icon An icon in the shape of a lightning bolt. Limited-Time Deal Snake River Farms Steaks (Save 35% on six featured Beef Week cuts) Snake River Farms offers meat delivery of premium steaks like massive 2-pound Cowboy steak; New York Strip; Filet Mignon; and more, in addition to pork, brisket, and seafood. BEEFWEEK $269.75 from Snake River Farms Originally $415.00 Save 35%Premium Wagyu steak delivery and moreIf you're unfamiliar with Snake River Farms, it's a direct farm-to-table service that removes the middleman from every step of the meat-making supply chain.

Persons: there's, Mignon, Price, Filet Mignon, Ribeye Organizations: Beef, Michelin, Washington Beef, Agri Beef, Nutrition Systems Locations: York, New York, Washington

☆ Yum Brands gets a lift as KFC's cheaper options draw more customers
▼ + stars: | 2023-08-03 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Quarterly comparable sales at KFC jumped 13% and topped estimates for an 8.29% growth, as options like the 2-for-$5 fried chicken wrap and launches including chicken nuggets pulled in lower-income consumers struggling with high food prices. [1/2]A Kentucky Fried Chicken (KFC) bucket of mixed fried and grilled chicken is seen in this picture illustration taken April 6, 2017. Yum Brands' revenue rose 3% to $1.69 billion but fell short of estimates of $1.75 billion, largely due to weaker-than-expected sales at Taco Bell and Pizza Hut. Excluding items, Yum Brands earned $1.41 per share, above estimates of $1.24. Reporting by Deborah Sophia in Bengaluru; Editing by Shinjini Ganguli and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Taco, David Gibbs, Edward Jones, Brian Yarbrough, Carlo Allegri, Chris Turner, Deborah Sophia, Shinjini Ganguli Organizations: KFC, Taco Bell, Pizza, Yum Brands, Wednesday, REUTERS, Thomson Locations: Pizza, U.S, Kentucky, Russia, Ukraine, Bengaluru

☆ Elon Musk wants Tim Cook to change another rule for X after taking shots at Apple for years
▼ + stars: | 2023-08-03 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk said he wants to chat with Tim Cook about Apple's App Store fee. Musk said he wants the company to change how Apple takes its fee from X subscriptions. Elon Musk wants Apple to make an exception on its App Store fee for users of X, formerly Twitter. Musk said he wants Apple CEO Tim Cook to change the fees it takes when users of its App Store subscribe to creator pages on X. That includes taking 30% of what X users pay for subscriptions on apps during the first year and 15% for following years, according to The Verge.

Persons: Elon Musk, Tim Cook, Musk, witter, egan, lue., ake, ree, hough Organizations: Apple, Morning, Twitter Locations: usk

☆ Mark Zuckerberg's wife, Priscilla Chan, is fed up with his MMA obsession after he built a fighting cage in his backyard
▼ + stars: | 2023-08-03 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg is taking his MMA obsession to another level by building an octagon in his backyard. "I have been working on that grass for two years," Chan responded to one of his messages. Mark Zuckerberg has built an octagon fighting ring in his backyard, but his wife, Priscilla Chan, doesn't seem thrilled. An Octagon is an eight-sided fighting cage typically used for MMA fights. Then Zuckerberg responded to Musk's challenge by writing three words on an Instagram Story: "Send Me Location."

Persons: Mark Zuckerberg, Priscilla Chan, Chan, doesn't, Zuckerberg, Isreal Adesanya, Alex Volkanovksi, Mark Zuckerberg Zuckerberg, Dave Camarillo, Elon Musk, Musk, Gizmodo, I'm Organizations: —, Twitter, Meta

☆ Pizza party: 14 versions of the world’s favorite food
▼ + stars: | 2023-08-01 | by ( Terry Ward | ) edition.cnn.com time to read: +15 min

The solution was to fry the pizza dough, with ricotta and pork fat tucked inside, for a puffier and more substantial effect. With several locations in Miami, Rey Pizza offers Cuban pizza varieties that include chorizo, picadillo (ground beef) and platano (plantain). New York slice pizzaNew Yorkers just fold their slices to eat on the move. “New York slice pizza uses a low-moisture and low-fat mozzarella that’s dry, almost more of a provolone,” Verde says. He recommends trying authentic New York slice pizza at Amore Pizzeria in the Flushing neighborhood of Queens (for a whole pie, try the Italo-Americano New York style pepperoni pizza at Coco Pazzeria).

Persons: Fabio Errante, , “, ” Errante, ”, Nino Coniglio, ” Coniglio, Enzo Algarme, ” Algarme, ’, Henry Cunningham, Gabriele Bonci, Cunningham, Stefano Politi Markovina, Tatyana Serraino, that’s, Lisa Cherkasky, it’s, Errante, . Wood, Allen Brown, Derek Gaughan, Pala, ” Gaughan, Louis, Steve Dolinsky, there’s, Dolinsky, Lou Malnati’s, crème, Khachapuri, Maggie Rossetti, iStockphoto, Ciro Verde, Coco Pazzeria, Pazzeria, Coniglio, you’re Organizations: CNN, CNN Travel, UNESCO Intangible Cultural Heritage, Food, Netflix, Washington Post, Uno, Pizza, Americano Locations: Naples, Italy, Italian, Brooklyn, New York City, Neapolitan, Virginia, Rome, Rome’s, Prati, Rome's Trastevere, Errante, Olive, Sicily, United States, Palermo, Detroit, Michigan, Trumbull, Columbus, New Haven, New Haven , Connecticut, Chicago, Cuban, Miami, Gouda, France’s Alsace, Germany, Catalonia, Spain, Balearic, Istanbul, Yerevan, Berlin, Hamburg, Armenia, Turkey, Georgia, York, Astoria , Queens, ” Verde, Flushing, Queens, Yorker

[1/2] President of the Central Bank of Paraguay Carlos Fernandez Valdovinos speaks during an interview with Reuters in Asuncion, Paraguay July 31, 2017. REUTERS/Jorge Adorno/File photoASUNCION, Aug 1 (Reuters) - Paraguay is seeking more Taiwanese investment to diversify its farm-driven economy focused on exporting raw materials to China, incoming Finance Minister Carlos Fernandez Valdovinos said in an interview. Paraguay remains the only South American nation with formal diplomatic relations with Taiwan, which China claims as its own territory. A Taiwan delegation including business leaders will travel to Paraguay in August for the inauguration of conservative President-elect Santiago Pena, he added. China, as a buyer of raw materials from Paraguay with no added value, "is probably convenient for some sectors," Fernandez said.

Persons: Central Bank of Paraguay Carlos Fernandez Valdovinos, Jorge Adorno, Carlos Fernandez Valdovinos, Fernandez, Santiago Pena, Pena, Jair Antonio de Lima, Lima, Lucinda Elliott, Daniela Desantis, Richard Chang Organizations: Central Bank of, Reuters, REUTERS, Gross, Thomson Locations: Central Bank of Paraguay, Asuncion, Paraguay, ASUNCION, China, Taiwan, CHINA, PARAGUAY Paraguayan, Beijing, Brazil, Uruguay, Paraguayan, United States, Japan, South Korea, Ukraine

☆ Taco Bell lawsuit: New York man sues food chain alleging false advertising
▼ + stars: | 2023-08-01 | by ( Ellie Stevens | ) edition.cnn.com time to read: +2 min

New York CNN —The photos online of Taco Bell’s Mexican Pizza last September reeled in New York resident Frank Siragusa. From webbedgiant/RedditThese claims against Taco Bell are not the first of its kind for Siragusa’s lawyers, James Kelly and Anthony Russo. Siragusa is seeking $5 million for customers who purchased Taco Bell menu items affected by false advertising practices. The lawsuit comes just as Taco Bell wrapped up its battle against Taco John’s for the “Taco Tuesday” trademark, in which the taco chain successfully petitioned for the phrase to be available for all. Taco Bell did not immediately respond to CNN’s request for comment.

Persons: Frank Siragusa, Siragusa, “, Crunchwrap, ”, Taco Bell, James Kelly, Anthony Russo, Burger King, Bell, Taco John’s Organizations: New, New York CNN, Taco, taco, Pizza, Bell, Taco Bell's, Taco Bell, CNN Locations: New York, Brooklyn

In a proposed class action filed on Monday in Brooklyn federal court, Siragusa accused Taco Bell of deceiving consumers by falsely advertising its Mexican Pizza, Veggie Mexican Pizza, Crunchwrap Supreme, Grande Crunchwrap and Vegan Crunchwrap as containing "at least double" their actual content. He is not alleging that the items contain less content than Taco Bell describes on its website. Taco Bell, a unit of Yum Brands (YUM.N), did not immediately respond to requests for comment. "Taco Bell does not adequately disclose the weight of the beef or filling," Russo said in an email. The case is Siragusa v Taco Bell Corp, U.S. District Court, Eastern District of New York, No.

Persons: Frank Siragusa, Taco Bell, McDonald's, Anthony Russo, Burger King, Russo, Plaintiff, Jonathan Stempel, Bill Berkrot Organizations: YORK, Pizza, Taco Bell, New York City, Taco, Yum Brands, Burger, Taco Bell Corp, Court, Eastern District of, Thomson Locations: Taco, New York, Brooklyn, Ridgewood , New York, Miami, Eastern District, Eastern District of New York

Snake River Farms has a great opportunity to stock up and save big on meat delivery in its annual Beef Week sale, running until August 6, 2023. Save up to 35% on Snake River Farms meat deliveryDeal icon An icon in the shape of a lightning bolt. Limited-Time Deal Snake River Farms Steaks (Save 35% on six featured Beef Week cuts) Snake River Farms offers meat delivery of premium steaks like massive 2-pound Cowboy steak; New York Strip; Filet Mignon; and more, in addition to pork, brisket, and seafood. BEEFWEEK $269.75 from Snake River Farms Originally $415.00 Save 35%Premium Wagyu steak delivery and moreIf you're unfamiliar with Snake River Farms, it's a direct farm-to-table service that removes the middleman from every step of the meat-making supply chain. But the best way to try Snake River Farms today is by taking advantage of this sale, which you can do by visiting the links ahead through August 6.

Persons: Mignon, Price, Filet Mignon, Ribeye Organizations: Beef, Michelin, Washington Beef, Agri Beef, Nutrition Systems Locations: York, New York, Washington

☆ I visited Costco on my vacation to Japan. I was surprised to find a 48-piece sushi platter and bulgogi bake — and I even got a free sample of booze.
▼ + stars: | 2023-07-31 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Richard Truong is a 26-year-old software engineer from Pennsylvania who has been a Costco member since 2016. On a recent trip to Japan, Truong stopped by the Costco warehouse in Kyoto to see the differences. I work as a software engineer for a large insurance company in Pennsylvania, and I've been a member of Costco since 2016. It's fun to wander around Costco warehouses in different countries and see what they have — what's similar to the US and what's specific to that region. Japan has 32 Costco warehouses – here's what I saw on my visit to the one in Kyoto.

Persons: Richard Truong, Truong, I've, it's Organizations: Costco, Service Locations: Pennsylvania, Japan, Kyoto, Wall, Silicon

☆ Pig cooling pads and weather forecasts for cows are high-tech ways to make meat in a warming world
▼ + stars: | 2023-07-30 | by ( ) www.cnbc.com time to read: +5 min

More intense summer heat resulting from emissions-driven climate change means animal heat stress that can result in billions of dollars in lost revenue for farmers and ranchers if not properly managed. But technology often insulates livestock in richer countries — another way global warming exacerbates the gap between wealthy and poor nations. Their cows are already showing signs of improved welfare, like chewing more cud, and there's more heat ahead this summer. "We're going to do what's best by our cows no matter what is or isn't going on with climate change," said Megan McAllister, a sixth-generation dairy farmer. As part of his work with Kansas State, Redmond gives presentations to producers and the general public, and he said that climate change has come up in conversations.

Persons: Farmer Ken Ries, Atul Jain, Mario Herrero, McAllister, Megan McAllister, Michelle Schack, they've, let's, Schack, Gerald Nelson, Nelson, Chip Redmond, Redmond, Jackie Boerman, Boerman Organizations: Livestock, The University of Illinois, Cornell University, University of Illinois, USDA, Kansas State University, Kansas State, Purdue University Locations: Ryan , Iowa, U.S, The University of Illinois Urbana, Champaign, United States, New Vienna , Iowa, Arizona, University of Illinois Urbana

☆ I became a superyacht chef without any formal training. Here's how I turned my hobby into cooking for celebrities like Pharrell Williams while traveling the world.
▼ + stars: | 2023-07-28 | by ( Claire Turrell | ) www.businessinsider.com time to read: +7 min

Since then, I've worked on 20 different superyachts in Asia, in the Caribbean, and in the Mediterranean. The yachts I've worked on have personal submarines, helipads, and spas. Dinner reservations can fall through, or once they get to the restaurant, the yacht owners may decide the vibes are off and that they no longer want to eat there. But I don't just cook for the owners, the guests, and the crew — sometimes, I cook for the owner's pets. I get my jobs through word of mouth, but to help people who are starting out to connect with other yacht chefs, I launched thesuperyachtchef.com in 2019.

Persons: Rachel Cunningham, Niki Lauda, Pharrell Williams, she'd, I've, I'd, wouldn't, must've, documentarian, Barts, Jeong Kwan, I'm Organizations: Service, Michelin, Netflix, Rachel Cunningham Chefs Locations: Asia, Caribbean, Wall, Silicon, Europe, Australia, Palma, Mallorca, Spain, France, London, Bluewater, Florida, Monaco, Seychelles, Bali, Malta, LordHenriVoton, Miami, Alaska, St, Devon, South Korea, Japan, Antigua

LONDON/NEW YORK, July 27 (Reuters) - Chocolate and coffee makers including Italy's Lavazza and Cadbury-maker Mondelez are concerned about the "practicalities" of a new European Union law aimed at stopping deforestation. Several major investors told Reuters last month that concerns about their exposure to the issue could lead them to quit consumer goods makers with "risky" supply chains. Oreo-maker Mondelez told Reuters it is "not clear on how they (EU authorities) will control or implement this" law. "It is entirely possible to trace coffee supply chains, despite their complexity. Italian confectionary group Ferrero wants the EU to provide specific guidance on compliance for each commodity because supply chains vary greatly between them.

Persons: Italy's, Mondelez, Giuseppe Lavazza, Lavazza, Christophe Hansen, Dirk Van de, Solidaridad, Julia Christian, Fern, Van de, Ferrero, Snorre, Matthew Scuffham, Catherine Evans Organizations: Cadbury, European Union, Reuters, European Commission, EU, Thomson Locations: EU

☆ A Half-Million Americans May Have Tick-Linked Meat Allergy, C.D.C. Says
▼ + stars: | 2023-07-27 | by ( Emily Anthes | More About Emily Anthes | ) www.nytimes.com time to read: +2 min

Lone star ticks, which scientists believe are the primary culprits of the disease in the United States, can transmit the sugar to people through a bite. Even patients who have the syndrome may not feel sick every time they eat meat. “It’s consistently inconsistent,” Dr. Salzer said. Until August 2021, a single commercial lab did nearly all of this antibody testing in the United States. In one of the new studies, researchers reviewed the results of the antibody tests performed at this lab from 2017 to 2022.

Persons: Salzer, Maya Jerath, Louis, ‘, ’ ”, Jerath, it’s, ”, “ It’s Organizations: Washington University Locations: St, United States

☆ Chipotle says customers can't get enough of its Chicken al Pastor – and it means it's having to spend less on pricier beef
▼ + stars: | 2023-07-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Chipotle says its limited-edition Chicken al Pastor is boosting sales and attracting new customers. Chicken al Pastor was added to its menus in March, and according to CEO Brian Niccol, one in five customer orders at the chain now include the protein. "We've got a benefit because Chicken al Pastor has really shifted some of our customers from the more expensive beef into the less expensive chicken," CFO Jack Hartung said in an earnings call on Wednesday. Chicken al Pastor isn't just cheaper for Chipotle to make, it's also helping to attract new customers, the company said. Plus, it was a fairly straightforward dish to launch because it's made using Chipotle's existing adobo chicken, which is then mixed in an al pastor marinade.

Persons: Chipotle, al, –, al Pastor, Brian Niccol, We've, Jack Hartung, Price, isn't, it's, marinade, morita, Niccol Organizations: Service, Bureau for Labor Statistics Locations: Wall, Silicon, Canada, Germany, France

☆ Mysterious meat allergy passed by ticks may affect hundreds of thousands in US, CDC estimates
▼ + stars: | 2023-07-27 | by ( Brenda Goodman | ) edition.cnn.com time to read: +9 min

Lack of awareness, lack of diagnosisScientists have only recently begun to understand alpha-gal syndrome. Another third of respondents said they were not confident about their ability to diagnose or manage a patient with alpha-gal allergy. Diagnoses on the riseResearchers haven’t had a good idea how many Americans might have alpha-gal syndrome. This led to them to estimate that between 96,000 and 450,000 Americans may have been affected by alpha-gal syndrome since 2010. A CDC map shows the geographic distribution of suspected alpha-gal syndrome cases per 1 million population per year from 2017 to 2022.

Persons: Ken McCullick, “, …, “ I’m, ” McCullick, ”, Scott Commins, aren’t, they’d, wasn’t, haven’t, epidemiologists, Commins, ” Commins, Johanna Salzer, CNN Salzer, ” Salzer, Salzer, McCullick, Dr, Sanjay Gupta, anaphylaxis, ‘, ’, lightbulb Organizations: CNN, Alpha, US Centers for Disease Control, University of North Carolina School of Medicine, CDC, “, Get CNN, CNN Health Locations: Brooksville , Florida, United States, Lenexa , Kansas, Midwest

☆ Some House Republicans want to hold up a major tax bill until it includes a big break for wealthy blue state residents
▼ + stars: | 2023-07-27 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +5 min

Some House Republicans are pushing yet again to revisit the SALT deduction. That State and Local Tax deduction — known as SALT — has proven to be a bipartisan scourge, with Republicans and Democrats alike from impacted areas rallying to restore the tax break to a more generous level. "I remain adamantly opposed to the SALT cap," Rep. Chris Smith (R-NJ), who spoke out and voted against the legislation that created the SALT cap in 2017, told Insider in a statement. "I promised Long Islanders I would fight tooth and nail to restore our SALT deduction. He added: "There is bipartisan support for restoring the SALT deduction which will put direct pressure on Republican leadership to listen to the millions of struggling middle-class families and take action to restore SALT."

Persons: —, Donald Trump's, Chris Smith, Smith, Long, New York Republican Nick LaLota, Marc Goldwein, Goldwein, Joe Biden's, Howard Gleckman, Gleckman, Josh Gottheimer, Katie Porter, Andrew Garbarino, California's Young Kim, Gottheimer Organizations: Republicans, GOP, Service, Politico, Washington Post, Long Islanders, New York Republican, Federal Budget, Democrats, Center, Democratic, Tax Locations: Wall, Silicon, it's, New York , New Jersey, California, New Jersey, Washington, California , New York, New York, Katie Porter of California, Jersey

[1/2] The logo of Chipotle is seen on one of their restaurants in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File PhotoJuly 26 (Reuters) - Chipotle Mexican Grill (CMG.N) missed Wall Street estimates for quarterly sales on Wednesday as a pause in months-long price hikes hurt its top line, sending the company's shares down nearly 9% in extended trading. California-based Chipotle also projected current-quarter comparable sales to grow in the low- to mid-single-digit range, while analysts on average expected a 6.01% increase. Like other restaurants, Chipotle has hiked menu prices to offset the impact of higher input costs of everything from beef to potatoes. Chipotle was not seeing any weakness in the lower-income consumer despite high inflation, CEO Brian Niccol said in a post-earnings call.

Persons: Andrew Kelly, Chipotle, Brian Niccol, Scott Boatwright, Peter Saleh, Sante Faustini, Deborah Sophia, Devika Organizations: REUTERS, Intelligence, Science, Thomson Locations: Manhattan , New York City, U.S, California, Bengaluru, Kailyn Rhone, New York

☆ Chipotle Mexican Grill misses sales estimates as inflation hits demand
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Chipotle Mexican Grill (CMG.N) missed Wall Street estimates for quarterly sales on Wednesday, signaling that demand for its rice bowls and burritos was losing steam in the face of higher menu prices and waning household budgets. Like other restaurants, Chipotle has also hiked menu prices to offset the impact of higher input costs of everything from beef to potatoes, deterring lower-income customers from ordering its pricier meals. Comparable sales at the restaurant chain rose 7.4% in the second quarter, compared with analysts' average estimate for a 7.59% increase, according to Refinitiv IBES data. Total revenue rose 13.6% to $2.51 billion in the three months ended June 30, also below estimates of $2.53 billion. Reporting by Deborah Sophia in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: burritos, Chipotle, Deborah Sophia, Devika Organizations: Thomson Locations: Bengaluru

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