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Consumer spending held up the US economy even as many worried about the prospect of a recession. Even as interest rates skyrocketed over the past 18 months, strong consumer spending kept the US economy moving. Higher rates start to biteLet's start with interest rates. Credit-card debt, in contrast, tends to move up and down with interest rates. That COVID cash stockpile helped support the economy despite rising interest rates and historically high inflation.
Persons: Barbie, Taylor Swift, David Rosenberg, Rosenberg, Morgan Stanley, Janet Yellen, Yellen, John David Rainey, Jamie Dimon, Dimon, We've, Piper, Nancy Lazar, Lazar Organizations: Service, Bloomberg, Federal Reserve, Credit, Federal Reserve Bank of New, CNBC, San Francisco Fed, Walmart, Fox News Digital Locations: Wall, Silicon, Federal Reserve Bank of New York, Ukraine
Wendy's and Burger King launched this year copycats of the iconic McDonald's chicken wraps. Wendy's was the best, but it fell apart as did the Burger King wraps. Seven years later, the burger chain's arch rivals, Burger King and Wendy's, are filling the chicken wrap gap with their own versions. Burger King debuted three snack-wrap-style chicken wraps in August, while Wendy's debuted a grilled chicken ranch wrap in March. AdvertisementAdvertisementI set out to see if these wraps would fill the void left by the McDonald's snack wrap.
Persons: Burger King, Wendy's, Burger Organizations: Service, Burger King, BK Locations: Wall, Silicon
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's EV focus is in the pursuit of self-sufficiency, says Piper Sandler's Nancy LazarDerek Scissors, Asia economist at the American Enterprise Institute and Nancy Lazar, chief global economist at Piper Sandler, joins 'The Exchange' to discuss China's effort to become self-sufficient, China's effort to grow its global auto market, and locating the timeline for peak pessimism of China's economy.
Persons: Piper Sandler's Nancy Lazar Derek Scissors, Nancy Lazar, Piper Sandler Organizations: American Enterprise Institute Locations: Asia
Self-serve soda fountains allow consumers to refill multiple times at fast-food restaurants. But, McDonald's said it is phasing out soda fountain machines in dining rooms across the US. The news was first reported by the State Journal-Register, citing several franchisees in Illinois. "McDonald's will be transitioning away from self-serve beverage stations in dining rooms across the U.S. by 2032," McDonald's said in a statement to Insider. " Self-serve soda fountains allow fast-food consumers to refill multiple times.
Persons: McDonald's, that's McDelivery, refills, Charlie Neibergall, Mikel Petro Organizations: Service, State, - Locations: Wall, Silicon, Illinois, Orange , California
At a McDonald's in Orange, California, Insider found that a Quarter Pounder with Cheese meal cost $10.19. DoorDash said it encourages restaurants to "maintain delivery menu prices that more closely reflect in-store menu prices." "There is a premium associated with the delivery channel," Chipotle told Insider, adding that its delivery prices are about 30% above in-store and order-ahead menu prices. ChipotleInsider food correspondent Nancy Luna found delivery prices about 30% higher at Chipotle compared to in-store prices. "This is one reason – among many – why DoorDash encourages restaurant partners to maintain delivery menu prices that more closely reflect in-store menu prices."
Persons: DoorDash, Chipotle, Uber, Nancy Luna, queso blanco, Shouldn't, It's, McDonald's, Ashwin Kamlani, Kamlani Organizations: Service, Chipotle, Chapman University in, Wall Street Locations: Wall, Silicon, Chipotle, Orange , California, Chapman, Chapman University in Orange, queso, McDelivery, That's
CNN —Demolition of the Los Angeles area home where Marilyn Monroe spent her last months has been put on hold by Los Angeles City Council, following a last-minute motion aimed at designating the house a Historic-Cultural Monument. Baron/Hulton Archive/Getty Images Norma Jeane Mortenson, who later changed her name to Marilyn Monroe, was born in 1926 in Los Angeles. Hulton Archive/Getty Images She was in several movies in 1950, including "The Asphalt Jungle" and "All About Eve." Hulton Archive/Getty Images Monroe wins a trophy at the "Star Of Tomorrow" Awards in Los Angeles in 1952. Bettmann Archive/Getty Images Monroe and former Yankees baseball player Joe DiMaggio leave city hall after their wedding.
Persons: Marilyn Monroe, Traci, Baron, Norma Jeane Mortenson, Gladys Baker, Marilyn, Claudette Colbert, Monroe, Jim Dougherty, Grace McKee, Grace, Michael Ochs, Norma Jeane, Emmeline Snively, Richard C, Miller, Donaldson, they're, Ben Lyons, Lyon, Theisen, he'd, Mira Sorvino, Frank Cronenweth, Peggy Martin, Shutterstock Monroe, Phil Moore, J R, she's, Johnny Hyde, Nancy Lee Andrews, you'll, Earl Leaf, Ray Anthony Band, Shutterstock, David Wayne, Christina Newland ., Kardashian, Amber Tamblyn, Alfred Eisenstaedt, Jane Russell, Joe DiMaggio, Amy Greene, Monroe's, Matty Zimmerman, DiMaggio, Joe, it's, Ella Fitzgerald, that's Ella Fitzgerald, Ed Feingersh, Elizabeth Winder, Ellen Burstyn, Arthur Miller, ullstein, He's, Harold Clements, Queen Elizabeth II, Laurence Olivier, Sugar Kane, Billy Wilder, I'm, Christina Newland, John F, Kennedy, Robert Kennedy, It's, Cecil W, Marilyn Monroe's, , Organizations: CNN, Los Angeles City Council, Department of Building, Safety, Hulton, Michael Ochs Archives, Model Agency, Century Fox, Columbia Pictures, Columbia, West Hollywood, Photoplay, Getty, Gentlemen, Fox, Hollywood, Bettmann, Yankees, US, Tiffany Club, New York, Grand Central, Queen, Royal, Daily Herald, Stoughton, Alamy, Los Angeles City, Historic Resources Locations: Los Angeles, Brentwood, Monroe, West Virginia, Columbia, Warrenburg , New York, American, Hollywood, Korea, York, New York, California, Hollywood , California, New, Grand, London, England, Polyclinic, Madison
A restaurant in Texas is using a robot named Wall-E to deliver food to dine-in customers. Someone in Schier's LinkedIn network said he, too, spotted a robot at a Chick-fil-A in Dripping Springs, Texas, nine months ago. At Chick-fil-A, Schier said he didn't see any employees in the dining room during his morning visit. "Had to go up to get drink refill which usually had been done by host in dining room," he told Insider in an email. In 2018, the company tested a three-button call system that enabled dining room customers to make secondary orders without leaving the table.
Persons: Schier Organizations: LinkedIn, Service, San, Alphabet Inc, Members Locations: Texas, Wall, Silicon, Bryan , Texas, Buffalo, San Francisco, Springs, California, California , Texas, Florida, Atlanta, New York City
Panera Bread, which plans to go public, has axed dozens of menu items in select stores. Items on the chopping block include expensive menu items like the steak and white cheddar sandwich. Panera Bread said the move is a test to simplify operations. Panera Bread said the simplified menu is a test. The citrus Asian crunch salad with chicken, priced at $14.69, has also been removed from test stores.
Persons: Bread, Panera Bread Organizations: Service, Deloitte Locations: Wall, Silicon, Orange , California
We visited four Subway in Southern California to figure out how Roark can fix the brand. So I visited four Subway stores near my Southern California home. It is one of hundreds of Subway stores that have been remodeled over the years. In 2021, The New York Times conducted its lab test and published a report stating that it found no tuna DNA in Subway tuna sandwiches. I ordered the tuna sandwich at a Subway in Santa Ana, California, an aging stand-alone store in a former adobe-style Taco Bell building.
Persons: Roark, Dunkin, Fred DeLuca, Jared Fogle, It's, haven't, Nancy Luna, Burger King, , Tim Powell, Powell Organizations: Roark Capital, Buffalo Wild Wings, Service, Subway, Royce, Owners, The New York Times, Chapman University Locations: Southern California, Wall, Silicon, Jersey, North America, Miami, Orange , California, Santa Ana , California, Orange
The chain's latest expansion includes its first biscuit menu. We tried the sweet and savory biscuits to see whether they would entice newcomers to the brand. But it is going out on a limb with biscuits, entering a food category with some fierce competitors, such as Chick-fil-A, Cracker Barrel, and Hardee's. The chain's new biscuit lineup includes a breakfast biscuit sandwich, a chicken biscuit sandwich, a strawberries-and cream biscuit, and biscuits and gravy. I even went behind the scenes at Carl's Jr. years ago to learn how it made its scratch biscuits.
Persons: IHOP, it's, Kieran Donahue, Carl's Jr Organizations: Service, Biscuits, Dine Brands Locations: Wall, Silicon, Nashville , Tennessee, Charleston , South Carolina
There's nothing close to a buck on the value menu, according to menus observed by Insider across the US. While sitting in line for a McDonald's drive-thru, Anne Arroyo, a TikToker who goes by @anna2morrow, zoomed in on the fast food chain's Dollar Menu. AdvertisementAdvertisement"McDonald's has a dollar menu right now without a single item that costs $1," she said in the video said in a video she posted. Several commenters wrote about how McDonald's dollar menu pricing was different across the country. A commenter who said they were from Florida wrote that their McDonald's dollar menu drinks cost $2.79.
Persons: McDonald's, Anne Arroyo, Arroyo, Nancy Luna, Chipotle Organizations: Service, Consumer Locations: Wall, Silicon, Niles , Ohio, McDonald's, Florida, Southern California, Orange , California
The breakfast value meal features four choices, including two types of biscuit sandwiches. I compared Wendy's biscuit meals to the same ones at McDonald's, and I was surprised at the results. But I set out to compare Wendy's to McDonald's, which has long been considered the king of fast-food breakfast. I bought the equivalent items and compared them on taste, price, and presentation. But I also thought Wendy's, which launched breakfast in 2020, could win on price if the food was halfway edible.
Persons: Wendy's, I've Organizations: Service Locations: McDonald's, Wall, Silicon, Southern California
The first The Cheesecake Factory restaurant opened in Beverly Hills, California, in 1978. Its CEO and founder, David Overton, opened it to promote his mother's cheesecake business. And we knew people loved it," Cheesecake Factory CEO David Overton said in a video on the company's website. Overton is referring to his mom's cheesecake business. Over the next 45 years, Overton turned his mom's cheesecakes into a national sensation.
Persons: David Overton, Overton, Evelyn Overton, I've Organizations: Factory, Service, cheesecakes, Walmart Locations: Beverly Hills , California, Wall, Silicon, Detroit, Los Angeles, Target
But Indian billionaire Mukesh Ambani snatched IPL rights away in a $2.9 billion bid last year, and then streamed games for free. Soon, Disney subscribers fled - out of 61 million users in October, roughly 21 million had left by July. It retains digital streaming rights but last year licensed the TV broadcast rights to Indian's Zee Entertainment (ZEE.NS) for around $1.5 billion, a source said. In the United States, ad-free Disney+ streaming service subscription rates are set to rise by 27% to $13.99 per month. By contrast in India, Disney+ Hotstar service costs $3.62 a month.
Persons: Anushree, India's Ambani Hotstar, Walt Disney, Disney, Mukesh Ambani, That's, JioCinema, Sivanandan, Daoud Jackson, Bob Iger's, Nancy Lee, Ambani, Aditya Kalra, Munsif, Dawn Chmielewski, Muralikumar Organizations: ICC Men's Cricket, REUTERS, Companies Disney India, Century Fox, Indian Premier League, Disney, Reuters, Asia, Cricket, Indian's Zee Entertainment, IPL, Blume Ventures, Hotstar, Staff, Media Partners, Netflix, JioCinema, Thomson Locations: Gurugram, India, Burbank, Disney India, United States, New Delhi, Bengaluru, Dawn, Los Angeles
The company outlined its business as well as a plan to sell $175 million in shares to PepsiCo. The grocery delivery service filed a prospectus, a detailed document that outlines Instacart's business and IPO ambitions, on Friday afternoon. Instacart will also sell $175 million in Series A preferred stock to beverage giant PepsiCo as part of a private placement, according to the document. Instacart said its average order value was $110 in 2022In total, Instacart works with 80,000 stores. As of June 30, 2023, it has 5.1 million Instacart + members.
Persons: Instacart Organizations: SEC, PepsiCo, Service, NASDAQ Global, Publix, Costco, Aldi, CVS, Walgreens, Walmart, DoorDash Locations: Wall, Silicon
The iconic Animal Style burger is one of the chain's most beloved off-menu items. Is it called Animal Style because you feel like a carnivorous animal while taking a big juicy bite? In her new book, due out in October, In-N-Out owner Lynsi Snyder reveals the entire story behind the christening of the Animal Style burger. AdvertisementAdvertisementToday, Animal Style is considered a preparation style for burgers, as well as fries. The Animal Style burger is listed on In-N-Out's "Not So Secret Menu" website, along with other popular off-menu items such as the Protein Style burger and the Grilled Cheese.
Persons: Lynsi Snyder, Snyder, Burger, they'd, Theo Roberts, Harry Snyder, Roberts Organizations: Service Locations: Wall, Silicon
In-N-Out Burger is one of the most beloved burger brands in the US. Rivals envy In-N-Out Burger, which has locations in seven states, for its cultlike fan base. On October 22, the Irvine, California-based fast-food chain plans to mark its 75th anniversary with a bash at the In-N-Out Burger Pomona Dragstrip. "The Ins-N-Outs of In-N-Out Burger" will reveal "the true In-N-Out Story," she wrote on her Instagram page. Here's how In-N-Out, with over 390 locations, has grown into an iconic fast-food brand under a handful of leaders.
Persons: Miley Cyrus, Anthony Bourdain, Harry, Esther Snyder, Lynsi Snyder, Snyder Organizations: Service, Burger Pomona Dragstrip, Forbes Locations: California, Wall, Silicon, Southern California, Irvine , California, Burger, Texas , Oregon, Colorado, Idaho, Tennessee
Boston Market, founded in 1985, sparked the rotisserie chicken craze in the late 1980s and 1990s. Between 2017 and 2022, the Golden, Colorado-based chain closed 161 stores, according to market research firm TechnomicAbout 50 more stores have closed this year. "Boston Market repeatedly has breached its payment obligations to US Foods," the suit states. Boston Market began serving its homestyle meals of spit-roasted rotisserie chickens, made-from-scratch cornbread, and creamy mac and cheese in 1985. Boston Market also faced competition from grocery stores like Costco and Kroger, which began selling rotisserie chickens in 1994.
Persons: Brenda Rivera, Rivera, Seth Wenig, Joseph Petrecca, McDonald's, Jay, Pandya, Tim Powell, That's, It's, it's Organizations: Boston, McDonald's, Service, New Jersey's Labor Department, The, Boston Market, Engage Brands, Restaurant Business, US Foods, Costco, Kroger, Sun Capital Partners, Sun Capital, Restaurant, Group, Companies Locations: New Jersey, Wall, Silicon, California, Boston, , Colorado, Jersey, Massachusetts, Arizona, Orange County , California, Huntington Beach , California
Scientists are keeping an eye on the new lineage, named BA.2.86, because it has 36 mutations that distinguish it from the currently-dominant XBB.1.5 variant. So far there is no evidence that BA.2.86 spreads faster or causes more serious illness than previous versions. COVID infections and hospitalizations have been rising in the U.S., Europe and Asia, with more cases in recent months attributed to the EG.5 "Eris" subvariant, a descendant of the Omicron lineage that originally emerged in November 2021. But many countries have drastically reduced testing of patients and their efforts to analyze the genomes of the viruses causing new COVID cases. Updated COVID booster shots now being developed have been designed to target the Omicron subvariant XBB.1.5.
Persons: Emily Elconin, Wesley Long, Eric Topol, Topol, Long, Moderna, Eris, Deena Beasley, Nancy Lapid, David Gregorio Our Organizations: REUTERS, Moderna Inc, Pfizer, World Health Organization, U.S . Centers for Disease Control, CDC, EG, Omicron, Houston Methodist Hospital, Scripps Research, COVID, U.S, Pfizer Inc, Thomson Locations: Waterford , Michigan, U.S, Europe, Asia, United States, Israel, Denmark, La Jolla , California
Watch CNBC's full interview with Piper Sandler's Nancy Lazar
  + stars: | 2023-08-18 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Piper Sandler's Nancy LazarNancy Lazar, chief global economist at Piper Sandler, and CNBC's Steve Liesman join 'The Exchange' to discuss bond yield indicating recession in Q4, misconceptions about the lag effect of Fed tightening, and wage increases adding pressure to profit margins.
Persons: Piper Sandler's Nancy Lazar Nancy Lazar, Piper Sandler, Steve Liesman
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRecession is needed to see a sustained shift down in inflation, says Piper Sandler's Nancy LazarNancy Lazar, chief global economist at Piper Sandler, and CNBC's Steve Liesman join 'The Exchange' to discuss bond yield indicating recession in Q4, misconceptions about the lag effect of Fed tightening, and wage increases adding pressure to profit margins.
Persons: Piper Sandler's Nancy Lazar Nancy Lazar, Piper Sandler, Steve Liesman
Because mineral sunscreens aren't absorbed, older formulations often had a greasy feel and a white appearance. People who do not like the thicker texture of mineral sunscreens often use chemical sunscreens in creams or sprays. The ingredients form a thin protective film that absorbs UV rays and changes their structure, converting them into heat before they penetrate the skin. Extreme heat also means more sweating, and sweat can contribute to itchiness and rashes some people experience from ingredients in chemical sunscreens, Radusky added. Even in the absence of extreme heat, people with sensitive skin should opt for mineral sunscreens, the AAD advises.
Persons: Johnson, Brian Snyder, Jacqueline, Ross Radusky, Radusky, Nancy Lapid, Michele Gershberg, Aurora Ellis Organizations: REUTERS, American Academy of Dermatology, Sun Protection, Research Center, Thomson Locations: Gloucester , Massachusetts, U.S, Scottsdale , Arizona, Dallas , Texas
In-N-Out owner Lynsi Snyder reveals new details about the chain in her book set to be released in October. "He knew that to develop loyal helpers, he needed to provide them with promotions, more responsibility, and more pay," Snyder wrote. In the book, Lynsi Snyder describes how employees are rewarded, from entry-level cashiers to six-figure salary managers. Once employees learn these early tasks, they can be "trusted with our burgers," Lynsi Snyder wrote. Lynsi Snyder, 41, inherited control of the family business in 2017 and became one of the youngest billionaires in the US.
Persons: Lynsi Snyder, Snyder, That's, Harry, Esther Snyder, Harry Snyder, wouldn't Organizations: Service, Bureau of Labor Statistics, Produce, Employees Locations: Wall, Silicon, Chipotle, Southern California, — Texas, Oregon, Colorado
Karissa's European eating binge at McDonald's restaurants underscores US travelers' excitement when they visit the Golden Arches while traveling abroad. Many food blogs have pointed to these must-try global McDonald's menu items that cater to locals in nearly 27,000 restaurants outside the US. According to the Wall Street Journal, these local menu items make up about 30% of McDonald's food sales. The chain's international menus have such a big following that McDonald's created a rotating global menu in 2018. Still, those items represent a fraction of the palate-pleasing fast food items found at McDonald's restaurants worldwide.
Persons: McDonald's Organizations: Service, Wall Street Locations: Chicago, Wall, Silicon, Italy, India, Australia, Japan, China, Hong Kong, Switzerland
Some delivery workers have tried to increase their gratuity by asking DoorDash customers for higher tips mid-delivery. As a result, the average food delivery tip has increased by 20% from 2020 to 2022, Uber Eats told Insider. With tips and base pay, DoorDash said on average, Dashers make $25 per hour on active deliveries. Many gig delivery workers make below minimum wage and say their earnings have fallen since the height of the pandemicA 2020 study found many gig delivery workers are struggling to make minimum wage. The survey of gig workers from the Economic Policy Institute found that about 14% of gig workers made less than the federal minimum wage, and 29% earned less than their state's minimum wage.
Persons: DoorDash, Austin Haugen, Shroff, Heather Taylor, Dashers, DoorDash's, Instacart, Uber, Carsten Koall, Sergio Avedian, Guy Organizations: Service, Starbucks, Consumers, Base, Economic Policy Institute Locations: Wall, Silicon, Corpus Christi , Texas, Los Angeles
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