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☆ Tyson Foods Profit Declines as Beef Price Drops
▼ + stars: | 2023-02-06 | by ( Patrick Thomas | ) www.wsj.com time to read: 1 min

Tyson Foods said it expects improved results later this year. Tyson Foods Inc. said its profit fell in its fiscal first quarter from a year ago as costs climbed and beef prices fell. The Springdale, Ark.-based company posted a profit of $316 million, or 88 cents a share, in the period ended Dec. 31, compared with $1.12 billion, or $3.07 a share, a year earlier. Analysts polled by FactSet had expected Tyson to report $1.35 a share in profit.

☆ U.S. farmers plan to go 'heavy on corn' in 2023
▼ + stars: | 2023-02-06 | by ( Mark Weinraub | ) www.reuters.com time to read: +4 min

Plans for the upcoming season were made even as doubts mounted about demand and price gains for soybeans outstripped corn late last year. 2 U.S. cash crop, soybeans. Hunnicutt cited the reliability of corn yields as a key reason to go big on corn in 2023. DEMAND WANESU.S. farmers alternate between soybeans and corn in a bid to maintain soil health. Last year's harvest shortfall left corn supplies at their lowest since 2013 and made farmers hopeful that prices would rally in the coming months.

☆ Tyson Foods misses quarterly sales estimates
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - Tyson Foods Inc (TSN.N) missed Wall Street estimates for quarterly revenue on Monday, pinched by falling beef prices and lower volumes in its pork segment. While soaring prices of beef, chicken and pork boosted sales at Tyson last year, the company reported an 8.5% drop in average sales price of beef in the reported quarter. The fall in beef prices dragged Tyson's sales at a time demand is already taking a hit from penny-pinched Americans reducing their spending on pricier meat cuts. The U.S. meatpacker's sales rose to $13.26 billion in the first quarter from $12.93 billion a year earlier. Analysts on average had expected sales of $13.52 billion, according to IBES data from Refinitiv.

☆ Sundance Movies: Brett Kavanaugh and Steph Curry Docs, "Cat Person"
▼ + stars: | 2023-02-06 | by ( Alison Brower | ) www.businessinsider.com time to read: +7 min

The Sundance Film Festival was back in person for the first time since 2020. In five days I saw eight films, and while I'm not a critic, I can affirm that not one of them was a clunker. Asked about the film's aspect ratio in an audience Q&A, Jalali said, "It was prettier that way." The bulk of the films I saw were more commercial, and four of them centered on relationships. And then there was "Cat Person," based on a 2017 New Yorker story about dating by Kristen Roupenian.

☆ North Korea calls for strengthened war readiness posture, expanded drills
▼ + stars: | 2023-02-06 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

The meeting comes as North Korea is widely expected to stage a military parade to mark the founding anniversary of its armed forces on Wednesday. Commercial satellite imagery has shown North Korean troops practicing in formation in Pyongyang, and South Korea has also said it was monitoring increased related activities. The military meeting also follows North Korea on Thursday condemning drills by the United States and its allies, saying they have reached an "extreme red-line" and threaten to turn the peninsula into a "huge war arsenal and a more critical war zone." In Thursday's statement, the North Korean foreign ministry condemned a visit to South Korea by U.S. Defense Secretary Lloyd Austin and said Pyongyang was not interested in dialogue as long as Washington pursues hostile policies. When asked about the tensions with North Korea during a stop in the Philippines, Austin said that the U.S. goal was to promote greater security and stability and that it remained committed to defending South Korea.

☆ Shake Shack unveils fine dining-inspired white truffle menu: 'It's something nobody else could do the way we could'
▼ + stars: | 2023-02-06 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

"We thought it was something that nobody else could do in the way we could do it," Shake Shack chief marketing officer Jay Livingston tells CNBC Make It. Starting Feb. 10, Shake Shack restaurants nationwide will be offering a trio of items made using white truffle: a beef burger, a mushroom burger and fries served with white truffle sauce. Shake Shack is no stranger to introducing limited edition menu items, but the burger chain's latest offering may be its most luxurious creation yet. The company worked with luxury food importer Regalis Foods to come up with a way to incorporate white truffle into its menus without asking customers to break the bank and also avoiding the artificial flavors that cheaper truffle oils use. Shake Shack will offer the menu for about three months, though Livingston noted that availability will ultimately be decided by customer demand.

☆ A tiny-home startup has attracted 160,000 customers, including Elon Musk. But disgruntled customers, an empty factory, and a tie to an alleged Iranian agent cloud its future.
▼ + stars: | 2023-02-06 | by ( Daniel Geiger | Alex Nicoll | ) www.businessinsider.com time to read: +17 min

A Boxabl Casita being delivered to a SpaceX facility in Texas. Tackling the US housing crisisStamped out on an assembly line, Boxabl homes could finally begin to help quench America's perpetual housing shortage. Homeowners, meanwhile, could rent out Boxabl units as secondary dwellings in their backyards or as Airbnbs. Firooznia, Tiramani said, sometimes provided a tiebreaking vote when the father and son disagreed on business decisions. During a tour of Boxabl's factory in December, a freelance reporter for Insider saw Tiramani's wife, Shauna, arrive with their four young children.

☆ Real and fake meat share problems
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

TORONTO, Feb 6 (Reuters Breakingviews) - Pain in the fake meat market is starting to spread to the real one. That’s still much better than Beyond Meat (BYND.O), which isn’t even booking an operating profit at this point. But the two companies share a few of the same problems that aren’t going away. With prices along the supply chain going up, including for transportation, consumers are making other choices. Forgoing meat – no matter the consistency – is a real problem.

☆ Earnings playbook: Your best moves ahead of Chipotle, Disney and the second half of reporting season
▼ + stars: | 2023-02-05 | by ( Fred Imbert | ) www.cnbc.com time to read: +7 min

Roughly 50% of S & P 500 companies have posted earnings thus far, and the results have been mixed. Tuesday Chipotle Mexican Grill is set to report earnings after the bell, followed by a conference call at 4:30 p.m. What history shows: Data from Bespoke Investment Group shows Chipotle beats earnings expectations 76% of the time and averages a 1.7% gain on earnings day. What history shows: Bespoke data shows Disney beats earnings per share estimates nearly 80% of the time. What history shows: PayPal earnings have beaten analyst earnings expectations nine of the last 10 quarter, according to FactSet.

☆ I settled the gas stove debate with a $69.99 induction cooktop from Ikea
▼ + stars: | 2023-02-05 | by ( Adam Rogers | ) www.businessinsider.com time to read: +11 min

Well, not at Ikea per se, but on the Ikea website — where I purchased the Tillreda, a single-burner induction cooktop, for $69.99. I got a magnet; if it doesn't stick to a pot, the pot won't work on an induction plate. That meant I couldn't do stuff on the Tillreda like boiling soup and pasta, things that require a long time on an inefficient gas flame. "In cases like that, the heat losses for a gas flame really add up," McGee says. I tried one in a cast-iron pan on the induction plate.

☆ Why Silicon Valleys massive layoffs haven't hit Detroit automakers
▼ + stars: | 2023-02-05 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +4 min

The auto industry could benefit from tech layoffs. But the auto industry doesn't need to undergo massive cuts — mostly because they already have over the past few years. Tech companies, meanwhile, had enjoyed a decade of unmitigated growth thanks to low interest rates and a flood of new investor money. "Legacy auto is underpopulated in order to fully go after the future of mobility — primarily, electrification, batteries, and software." The auto industry could benefit from tech layoffsWhile tech sheds thousands of jobs, automakers are desperate for workers.

☆ Meet Maye Musk, the Sports Illustrated cover model and the glamorous mother of one of the richest men in the world
▼ + stars: | 2023-02-04 | by ( Grace Kay | ) www.businessinsider.com time to read: +13 min

Despite her support for her children, Maye Musk has been a celebrity in her own right for decades. Maye Musk Maye Musk attended the Met gala with Elon Musk last year. "They followed their passions, and they all went in different directions," Maye Musk told Insider in a 2020 interview. Elon Musk, in particular, had tried his hardest in school, but only in the subjects he liked, Maye Musk said. Even at 14 years old, Maye Musk said Elon Musk had shown a passion for investing.

☆ Thyssenkrupp top-20 investor calls for sale of defense division
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Feb 3 (Reuters) - A top-20 investor of Thyssenkrupp (TKAG.DE) on Friday called for a fast disposal of the German industrial group's warship and submarine division, saying the risks associated with the business outweighed potential benefits. "We demand the immediate sale of all defense activities. According to Refinitiv Eikon data, Deka holds 0.45% of Thyssenkrupp shares, making it the company's 12th-biggest shareholder. Thyssenkrupp is weighing what it calls a standalone solution for its defense division, Thyssenkrupp Marine Systems (TKMS), which potentially covers partnerships, joint ventures or any other form of consolidation. "Even a partial sale would be a step in the right direction," Speich said in a speech embargoed for the start of Thyssenkrupp's annual general meeting.

☆ Cheeseburgers and steaks could be about to get a lot more expensive after US beef cow numbers slumped
▼ + stars: | 2023-02-01 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

The US cow population fell 3% last year while beef cows decreased to their lowest level since 1962, according to the Department of Agriculture. The total cow population in the country fell 3% to 89.3 million in 2022, according to a Department of Agriculture cattle inventory report published Tuesday. The number of milk cows rose slightly but beef cows plunged 4% to just under 29 million – the lowest total since records started in 1962. The fall in US cow numbers will likely be felt in diners and kitchens, with lower beef supplies encouraging farmers to raise prices and those then being passed on to Americans buying burgers or steaks. "What Tuesday's report solidifies is that not only do we have 'fewer' beef cows in the industry than compared to years past, but also that we have the fewest beef cows ever recorded," DTN livestock analyst ShayLe Stewart said.

☆ India raises defence budget to $72.6 bln amid tensions with China
▼ + stars: | 2023-02-01 | by ( Manoj Kumar | ) www.reuters.com time to read: +3 min

She said 2.77 trillion rupees would be devoted to military salaries and benefits in 2023-24, 1.38 trillion on pensions for retired soldiers, and further amounts for miscellaneous items. Sitharaman also revised the defence budget for the current financial year ending in March to 5.85 trillion rupees from earlier estimates of 5.25 trillion. Laxman Behera, a defence expert at government-funded Jawaharlal Nehru University in New Delhi, said the hike in the defence budget was "reasonable but not sufficient", considering requirements for military modernisation. India plans to spend near 242 billion rupees ($3 billion) for naval fleet construction and 571.4 billion rupees ($7 billion) for air force procurements including more aircraft, the latest budget document showed. Although the defence budget allocations fell short of military expectations, they are likely to grow as the economy recovers from two years of pandemic curbs, according to Behera.

☆ I followed Nancy Pelosi's diet of breakfast ice cream and hot dogs for a week, and I ping-ponged between euphoria and the depths of despair
▼ + stars: | 2023-01-31 | by ( Sophie Kleeman | ) www.businessinsider.com time to read: +22 min

My research found that Pelosi eats ice cream for breakfast, hot dogs for lunch, pasta, and chocolate. Chocolate ice cream for breakfast, rich and creamy pasta, and lots of snacking chocolate. She claims she does not exercise; her daughter once arrived home to find her mother eating chocolate ice cream while using a stationary bike. I save the ice cream for later to avoid a massive sugar crash and start out with a cup of black tea instead. However, I don't want to slack off after the ice cream episode, so I slather it on.

☆ One of the biggest problems for plant-based products — people don't know where to find them at the grocery store
▼ + stars: | 2023-01-30 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Where plant-based meat sits in a grocery store can affect sales. Sales of plant-based meat grew quickly during the early months of the pandemic. But that growth slowed down in 2022, leading some analysts to question the long-term potential of plant-based foods. Earlier this month, Bloomberg Businessweek published a cover story declaring plant-based meat was "just another fad." In response, Impossible took out a full-page ad in the New York Times that decried media coverage "hating on plant-based meat."

☆ The Sundance Film Festival stirs buzz, draws A-list stars, and screens movies that get you talking, but it can't hide the crisis facing independent filmmakers.
▼ + stars: | 2023-01-29 | by ( Alison Brower | ) www.businessinsider.com time to read: +6 min

The Sundance Film Festival was back in person for the first time since 2020. A-list stars like Anne Hathaway and Jason Momoa were present to promote their buzzy films. It was impossible not to feel optimistic about the state of independent film at the opening weekend of the Sundance Film Festival. In five days I saw eight films, and while I'm not a critic, I can affirm that not one of them was a clunker. At an event like Sundance, even amid some hand-wringing over the future, the excitement is contagious.

☆ Tech giants have cut tens of thousands of jobs. Automakers are ready to hire them.
▼ + stars: | 2023-01-29 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +4 min

But the auto industry doesn't need to undergo massive cuts — mostly because they already have over the past few years. Tech companies, meanwhile, had enjoyed a decade of unmitigated growth thanks to low interest rates and a floor of new investor money. As these companies enter a new phase and a different economy, the tech industry is experiencing its first real belt-tightening. The auto industry could benefit from tech layoffsWhile tech sheds thousands of jobs, automakers are desperate for workers. "The war for talent in the automotive industry is still raging and the talent pool is still relatively small."

☆ I used to work as a chef in Philadelphia. Here are the 12 restaurants I always recommend to first-time visitors.
▼ + stars: | 2023-01-28 | by ( Grace Kennedy | ) www.businessinsider.com time to read: +11 min

I'm a Philadelphia native who used to work as a chef and baker in restaurants around the city. Philadelphia is known for its cheesesteaks, but it also has great Mexican, Italian, and Thai food. There are too many restaurants in Philadelphia worth trying to list them all here. However, these 12 restaurants are my tried-and-true favorites that every first-time visitor should try during a trip to Philadelphia. In my opinion, it serves some of the best Thai food in the country.

☆ I live in a town of 1,100 people. Inflation has changed the way I grocery shop — here's how.
▼ + stars: | 2023-01-28 | by ( Robin Madell | ) www.businessinsider.com time to read: +4 min

I live in Altamont, Tennessee, a small rural town with a population of around 1,100 people. The closest grocery stores we have near us are The Dollar Store and Piggly Wiggly, which are walking distance from my house. I usually buy a protein like chicken or beef, vegetables like broccoli or Brussels sprouts, and occasional carbs like potatoes. If I buy beef, that will usually put my bill over my $100 weekly limit. The cost of Starbucks ground French roast that I buy from the grocery store has increased by more than 50%, from $6 to $10.99 per 12-ounce bag.

☆ I moved to New York from the UK to marry my partner using a K-1 visa. The process was so difficult that we had to sue the government.
▼ + stars: | 2023-01-28 | by ( Dan Gooding | ) www.businessinsider.com time to read: +6 min

Gooding decided to move to New York, so he married David. They applied for a K-1 visa. I fell in love with him and New York City. We submitted our K-1 visa application the day before the city's COVID-19 lockdown hit. First, the US fiancé applies for the K-1 visa on their international partner's behalf.

☆ Unemployment is lasting longer for more Americans—here are 3 ways to boost your savings
▼ + stars: | 2023-01-27 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +3 min

Layoffs and extended periods of unemployment are a few of the many reasons you might have to use your emergency fund. Use these tips to beef up your emergency fund, whether you're just getting started or looking to add extra cushioning. Ideally, you'll be able to routinely put money toward both your emergency fund and retirement savings, but if you have to pick one, prioritize emergency savings first. Your emergency savings, on the other hand, should be readily available, such as in a high-yield savings account. Plus, when you're young, you have time to catch up on your retirement savings.

☆ Bill Gates just invested in a startup that's trying to stop cows from burping and farting so much
▼ + stars: | 2023-01-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Bill Gates-founded Breakthrough Energy Ventures led a $12 million seed funding round into Rumin8. The Perth-based startup is developing a seaweed-based feed aiming to cut methane from livestock emissions — like the burps and farts of cows. As livestock accounts for about 15% of global greenhouse gas emissions, there are now global efforts to farm such animals more sustainably. "There are companies making 'beef' in new ways and people working to still use cows but reduce the methane emissions," Gates wrote in the thread. Last week, French food giant Danone pledged to slash methane emissions from its milk-supplying farms by about one-third by the end of this decade.

That surge in demand and limited supply contributed to higher prices. But diners will likely still pay higher menu prices than they were last year. Dutch Bros. Coffee CEO Joth Ricci told CNBC that most coffee businesses hedge their prices six to 12 months in advance. However, Zandi said, if the job market remains strong, inflation eases and wages grow, Americans can better manage higher prices for airfare and other items. Several hot pandemic items, including TVs, computers, sporting goods and major appliances have dropped in price, according to Labor Department data from December.

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