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☆ Procter & Gamble revenue rises 3%, short of expectations
▼ + stars: | 2024-01-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

A Procter & Gamble (P&G) logo is seen during the 6th China International Import Expo (CIIE) at the National Exhibition and Convention Center (Shanghai) on November 7, 2023 in Shanghai, China. Procter & Gamble on Tuesday reported mixed quarterly earnings and revenue for its fiscal second quarter. Shares of the company rose less than 1% in premarket trading. Excluding items, the company earned $1.84 per share. Net sales rose 3% to $21.44 billion.

Persons: Gamble Organizations: Procter, Gamble, China, National Exhibition, Convention Center, LSEG Locations: Shanghai, China

☆ P&G's beauty sales hurt by an unlikely headwind: A wastewater release in Japan
▼ + stars: | 2024-01-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

While Japan and the United Nations' nuclear watchdog said the move was safe, China retaliated by banning all seafood imported from Japan. Chinese consumers followed with boycotts on Japanese brands, including P&G's SK-II, fearing that their products would be tainted by radiation. While the brand took a hit in the previous quarter, P&G executives said SK-II is already seeing sales turn around. "Our consumer research indicates SK-II brand sentiment is improving, and we expect to see sequential improvement in the back half," CFO Andre Schulten said on the company's earnings conference call. CEO Jon Moeller also reminded investors that previous tensions between Japan and China have hurt SK-II's sales, but the brand always bounced back.

Persons: Gamble, Andre Schulten, Jon Moeller Organizations: Procter, SK, United Nations, G's SK Locations: Greater China, Japan, —, China

☆ A 16-year-old claims her parents have spent $3,000 buying her 67 different Stanley cups, as the giant mugs become the ultimate playground status symbol
▼ + stars: | 2024-01-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Read previewA 16-year-old TikToker claims that her parents have spent around $3,000 buying her every Stanley cup on the market. This story is available exclusively to Business Insider subscribers. The Quenchers were the most-featured item in Gen Z Christmas-haul videos on TikTok, a youth consumer-trends analyst previously told Business Insider . A shopper passes empty shelves once stocked with Stanley tumblers at a Target store in Canoga Park, California on January 9, 2024. Do you collect Stanley cups?

Persons: —, Stanley, Amelia Awad, Stanley Quencher, I'm, Stanley tumblers, Brian van der, Awad Organizations: Service, Business, Wall Street Journal, Starbucks, Hydro, Los Angeles Times, Getty Locations: Birmingham , Alabama, Canoga Park , California

☆ Sweetgreen wants to be the ‘McDonald's of its generation.’ This rival salad chain could beat it
▼ + stars: | 2024-01-19 | by ( Amelia Lucas | ) www.cnbc.com time to read: +6 min

Source: Salad and GoWhen Sweetgreen went public two years ago, co-founder and CEO Jonathan Neman said the salad chain aspired to be the "McDonald's of its generation." But another salad rival could beat Sweetgreen to the punch: Salad and Go. One of its 48 ounce salads costs less than $7 and comes with chicken or tofu, while a comparable salad from Sweetgreen costs about $12. Two years later, Morrison took over as chief executive, departing Wall Street's favorite chicken wing chain after a decade in favor of a little-known salad chain that then had only 50 locations. Other salad players, such as Sweetgreen, Just Salad or Salata, are usually in the same markets as Salad and Go.

Persons: Sweetgreen, Jonathan Neman, Charlie Morrison, Morrison, Wall, Adam Jeffery, Go, We've, Nicole Portwood, Portwood, hasn't Organizations: Volt Investment, CNBC Locations: Arizona , Nevada , Oklahoma, Texas, Southern California, Englewood Cliffs , New Jersey

☆ Wendy's taps PepsiCo exec Kirk Tanner as new CEO as burger chain fights off activist pressure
▼ + stars: | 2024-01-18 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Wendy's has tapped PepsiCo veteran Kirk Tanner as its new chief executive, effective Feb. 5, as the burger chain tries to boost its share price and ease pressure from activist investors. Kirk Tanner, chief executive officer of North America beverages for PepsiCo Inc., speaks during the Bloomberg Power Players Summit in Miami, Florida, U.S., on Friday, Jan. 31, 2020. Outgoing Wendy's CEO Todd Penegor has been at the helm of the company since 2016. Under his leadership, Wendy's successfully launched its breakfast menu nationwide, helping the company overtake Burger King as the second-largest U.S. burger chain by sales. But if Blackwells nominates its own board candidates, it's kicking off a fight with another activist investor: Nelson Peltz, who is chair of Wendy's board.

Persons: Tanner, Wendy's, Kirk Tanner, Todd Penegor, Burger, Blackwells, Nelson Peltz, Peltz, Trian, Ram Krishnan Organizations: Pepsi, PepsiCo, PepsiCo Inc, Bloomberg Power Players Summit, Reuters, Trian Fund Management, Disney Locations: Miami , Florida, North America, U.S, Wendy's

☆ Sharon Aloni Cunio: Freed Israeli hostage says she was held in Gaza hospital with dozens of others
▼ + stars: | 2024-01-17 | by ( Tara John | ) edition.cnn.com time to read: +6 min

Emma Cunio, 3, was separated from her family during the October 7 attack. Aloni Cunio was taken into Gaza on a tractor with David and Yuli and held in a home guarded by two Hamas militants. At first, she thought she was hallucinating but someone walked in with Emma and handed her to Aloni Cunio “like a package,” she said. Aloni Cunio spoke of the harsh living conditions they endured in captivity. Days later, the Red Cross ushered Aloni Cunio and her daughters back to Israel.

Persons: Sharon Aloni Cunio, I’m, ”, CNN’s Anderson Cooper, David Cunio, Cooper, Aloni Cunio, Nasser, “, Emma, David, Emma Cunio, Nir Oz, Aloni Cunio’s, – Danielle Aloni, Amelia, Yuli, Aloni, ‘, Israel Organizations: CNN, Nasser Locations: Gaza, Israel

☆ Burger King owner Restaurant Brands buys chain's largest U.S. franchisee
▼ + stars: | 2024-01-16 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Restaurant Brands International is buying Carrols Restaurant Group , the largest Burger King franchisee in the U.S., for about $1 billion in cash. Restaurant Brands will pay $9.55 per share to acquire Carrols, which operates more than 1,000 Burger King restaurants and 60 Popeyes locations. Burger King sales had been lagging behind the competition, and Wendy's overtook it as the second-largest burger chain by U.S. sales. Restaurant Brands plans to remodel 600 of Carrols' Burger King locations rapidly over the next five years and then sell them back to franchisees, Tom Curtis, president of Burger King U.S. and Canada, said. Correction: Restaurant Brands International currently owns 175 Burger King locations.

Persons: Burger, Wendy's, Tom Curtis, Josh Kobza, I've, Curtis, Burger King Organizations: Brands, Burger King, Restaurant Brands, Burger King's, Burger King U.S, Restaurant, Carrols, CNBC, Burger, CNBC PRO Locations: U.S, Burger King's U.S, Burger, Canada

☆ Defense Secretary Austin is 'actively involved and engaged' while hospitalized
▼ + stars: | 2024-01-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Defense Secretary Lloyd Austin is still hospitalized following doctors' advice, but he's "actively involved and engaged," according to national security spokesperson John Kirby. "A lot of the work that gets done in national security is done at the staff level." Austin has been treated at Walter Reed National Military Medical Center since Jan. 1, following complications from a surgery nearly two weeks earlier to treat prostate cancer. Kirby said Sunday that physical therapy is part of the reason doctors have kept Austin in the hospital. "The Pentagon's investigating this, and we'll see what comes out of that, but that is not the way that the process is supposed to work," Kirby said.

Persons: Defense Lloyd J, Austin, Lloyd Austin, John Kirby, Kirby, It's, Joe Biden, Austin's Organizations: Defense, Armed, Office, Washington , DC, Walter Reed National Military Medical, Austin, Pentagon Locations: Afghanistan, Rayburn, Washington ,, Iran, Yemen, Austin

☆ Life on the road can be grueling for NBA players and staff. But Celtics center Al Horford says support from the league's Mind Health program is a game changer.
▼ + stars: | 2024-01-09 | by ( Brea Cubit | ) www.businessinsider.com time to read: +9 min

To help players, the Boston Celtics organization offers mental-health resources, Al Horford told BI. How the Celtics organization supports players' mental healthThis is a complicated, shared experience among frequent business travelers. The NBA's increased focus on mental healthKensa Gunter, the NBA's director of mind health since 2020, is helping lead this charge across the NBA's 30 teams. Those efforts evolved into the Mind Health program, which launched in 2018 and became an even more crucial resource in 2020, when the pandemic hit and social unrest swelled, Gunter added. "How do you help someone maintain their mental health while they're doing so much traveling and are away from their families?"

Persons: Al Horford, —, It's, Horford, Amelia Vega, Mila, Tito Horford, Arelis Reynoso, Candice Williams, Williams, She's, Kensa Gunter, Gunter, it's Organizations: NBA, Boston Celtics, Service, Celtics, Grizzlies, Mind Locations: Boston, Memphis , Tennessee, Orlando, Alía, Ava, Nova, they're

☆ McDonald's investor day is Wednesday. Expect to hear about expansion, tech and China
▼ + stars: | 2023-12-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

The company also projected mid-single-digit sales growth in 2021 and 2022. McDonalds is a multinational fast food chain with thousands or restaurants over the world with headquarters in Chicago Illinois. It is the world's largest fast food restaurant chain famous for the burgers and fries. While the U.S. may seem saturated with McDonald's locations, executives have said that its current footprint doesn't reflect where consumers currently live, including the shift to the South and Southeast. Some McDonald's locations have also tested using artificial intelligence to take drive-thru orders.

Persons: Luke Sharrett, McDonald's, aren't, Chris Kempczinski, Nicolas Economou, remodels, Kempczinski Organizations: McDonald's Corp, Bloomberg, Getty, Wall Street, McDonalds, Nurphoto, Technology Locations: Louisville , Kentucky, U.S, New York City, USA, Chicago Illinois, Manhattan , New York, Texas, Canada, Germany, Australia, France, China

☆ 2023 has been an AI feeding frenzy, here are the startups that attracted the most investment this year
▼ + stars: | 2023-12-04 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +7 min

Despite an overall slump in startup funding, 2023 saw a scramble among investors to pour money into AI and machine learning startups. And the company's star still appears to be rising, despite a messy leadership struggle that recently spilled into public view. Meanwhile OpenAI's perennial rival Anthropic attracted multi-billion dollar investments from both Google and Amazon to fund a competing AI model known as Claude. At the same time legacy companies from John Deere to accounting firm PwC played up their AI bona fides to capitalize on the hype. The list doesn't include startups who have not publicly released the amount of their funding rounds.

Persons: OpenAI, Anthropic, Claude, Databricks, John Deere, PwC, Fresh Organizations: Microsoft, Google, Alpha, Technology, Monogram, Sigma, Lambda, Helsing, Metals, Eagle Eye, Amelia, Asimov, Farmers Business, Harbinger, Prins, Silo, Mistral, Alto, AMP, Management Software, Universal, Coro, Kodiak Robotics, Aerospace, Defense, Sana, Corti, Kyte, Mitra, Tech, Boss Digital Technology, Halcyon, & $ Locations: PitchBook

☆ Panera Bread reportedly files to go public again through IPO
▼ + stars: | 2023-12-01 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Panera Bread has confidentially filed to go public again, the Financial Times reported. The restaurant chain, known for its soups, sandwiches and bagels, has been signaling for months that it's looking to go public through an initial public offering. In May, Panera announced a CEO transition and said the leadership changes were "in preparation for its eventual IPO" — amid a two-year IPO drought that ended in the fall. Mediterranean restaurant chain Cava , whose chair is Panera founder Ron Shaich, was among the trickle of companies that went public this year. JAB also tried to take Panera public again that year.

Persons: Panera, Ron Shaich, Panera isn't, Shein confidentially, Skims, Danny Meyer's Organizations: Financial Times, Investors, Bloomberg, CNBC, Yum Brands, Panera's, Financial, CNBC PRO Locations: Cava, Rye

☆ Mars, accused of using child labor in its supply chain, says it aims to end the practice
▼ + stars: | 2023-11-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

For more than two decades, the world's largest chocolate makers have been pledging to eliminate — or at least reduce their reliance on — child labor. For its part, Mars' latest deadline to end child labor in its supply chain is 2025. The company said more than 65% of its West African cocoa supply chain has already achieved compliance. Read the full statement from Mars below:Mars unequivocally condemns the use of child labor. It has no place in our supply chain, and we are fully committed to helping to eradicate it.

Persons: Mars, Cargill Organizations: CBS News, CNBC, CBS, of Washington, Cargill, U.S, Supreme, Nestle USA, Labor, Cocoa Initiative, ICI, Rainforest Alliance, Fairtrade, CNBC PRO Locations: Ghana, Superior, West Africa

UNCHARTED WATERS Airlines Race Toward a Future of Powering Their Jets With Corn Carriers want to replace jet fuel with ethanol to fight global warming. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D.

Persons: “, ”, Jeffrey Broberg, Biden, Jake Wildman, Wildman, Lauren Riley, Amelia DeLuca, Todd Becker, United’s, Seager, et, Roy Stoltenberg, It’s, “ It’s, Mr, Stoltenberg, John, Stoltenberg douses, Megan Konar, Matt Jennen, midcentury, we’ve, Chad Friese, I’m, John Hansen, Mary, sighed Organizations: Jets, Carriers, Minnesota Well, Organization, United Airlines, Delta, New York Times, Farmers, IOWA NEB, MINN, Water Resources Research, Department of Agriculture, ”, U.S . Department of Agriculture Economic Research Service, Aviation, Delta Air Lines, Ethanol Company, University of Illinois, Ethanol, ” Industry, Nebraska Farmers Union, Sunrise, Reserve Locations: America, Ohio, Washington, Minnesota, Nebraska, MINN, WIS, MICH, IOWA, IOWA NEB . OHIO, . MO, KAN . MO, KAN, In Kansas, Glenwood, Minn, ”, Japan, Germany, U.S, Chippewa, Benson, Omaha, ., KAN ., Cairo, Neb, Iowa, Wisconsin, University of Illinois Urbana, Champaign, Wood, China, Foxhome, Platte, . Nebraska

☆ Flight attendants 'hot bed' to deal with sporadic shifts – but an insider says the practice is in a legal gray zone
▼ + stars: | 2023-11-27 | by ( Maria Noyen | ) www.businessinsider.com time to read: +6 min

AdvertisementFor those not in the aviation industry, it might be easy to assume the life of a flight attendant is glamorous with constant travel. For that reason, flight attendants on reserve sometimes resort to staying in shared housing, commonly known as a "crash pad." @flightattendantbaelee/TikTokDepending on the city, crash pads are houses or apartments that are usually owned by flight attendants, pilots, or former airline crew. What's more, flight attendants have two options to choose from within the crash pad: a "hot bed" or "cold bed." "You typically see that it's like the crash pad owner sucks or something, and someone feels the crash pad owner wronged them."

Persons: —, isn't, Lea, @flightattendantbaelee, she's, Lea —, there's, I've, Amelia Hanron, Lea's, Insider's Monica Humphries, Cierra, Zach, Cody Organizations: Service, American Airlines, French Bulldogs, Pad Locations: Lea, Puerto Rico, Hawaii, , New York, New York City

And on Sunday, she was finally freed, as one of the hostages Hamas released under a deal with Israel. Her name is Avigail Idan. “We are blessed to give her lots of love and care and to help her build her life again,” Tal Idan, her aunt, wrote in a text message. “Thank God she’s home,” Mr. Biden told reporters in Nantucket, Mass., on Sunday. Covered in her father’s blood, Avigail ran toward a neighbor, her aunt, Tal Idan, said.

Persons: Avigail, Abigail ”, ” Tal Idan, Liz Hirsh Naftali, Noa Naftali, Biden, God she’s, ” Mr, “, ”, Roy Idan, Smadar Idan, Aza, Idan, Michael, Amelia, Tal Idan, ” Ms, Amit Idan, Hersh Goldberg, Goldberg, Polin, Jon Polin, ” “ I’m, Mr Organizations: Israel, Qatari Locations: Israel, United States, California, Nantucket, U.S, Berkeley, Calif, Gaza

Hamas released another 14 Israeli hostages on Sunday during the four-day pause in fighting with Israel, according to the Israeli government. Here’s what we know about the Israeli citizens released on Sunday. Avigail Idan, 4Image Avigail Idan Credit... Hostages and Missing Families ForumAvigail’s parents, Roy Idan, 43, and Smadar Idan, 38, were killed in Kfar Aza during the Oct. 7 attack. Avigail’s uncle and aunt, Amit and Tal Idan, have been taking care of her siblings since the attack.

Persons: Avigail Idan, Roy Idan, Smadar Idan, Michael, Amelia, Avigail, Abigail ”, Biden, Avigail’s, Amit, Tal Idan, ” Ms, Idan, “ Organizations: U.S . Locations: Israel, Kfar Aza, U.S, Washington, Nantucket, Israeli

Twelve of those newly released were among the roughly 75 people who had been kidnapped from Kibbutz Nir Oz on Oct. 7. Keren Munder, 54; Ohad Munder Zichri, 9; Ruth Munder, 78Image From left, Keren Munder, Ohad Munder Zichri and Ruth Munder. Ruth is a retired hairdresser and seamstress, according to Kibbutz Nir Oz. She was kidnapped from her safe room in Kibbutz Nir Oz after her husband, Sa’id Moshe, was killed during the Hamas assault. Doron Katz Asher, 34; Raz Asher, 4; Aviv Asher, 2Image From left, Doron Katz Asher, Raz Asher, Aviv Asher.

Persons: —, Kibbutz Nir Oz, Keren Munder, Munder, Ruth Munder, Munder Zichri, Avi Zichri, Ohad Munder, Ruth, Abraham Munder, Nir Oz, Abraham’s, Roee, Ohad, Abraham, Keren, Danielle Aloni, Amelia Aloni, Amelia, Aloni’s, Sharon Cunio, Sharon, David Cunio, Emma, Yuli, ”, Aloni, Adina Moshe, Adina Moshe Credit, Moshe, Sa’id Moshe, Naama Ben, Moshe’s, ” Yaffa, Adar, Tamir Adar, Hanna Katzir, Hanna, Katzir, Katzenellenbogen, Elad Katzir, Rami, Hanna Peri, Hanna Peri Credit, Peri, Ms, Margalit Moses, Margalit Moses Credit, Moses, Doron Katz Asher, Raz Asher, Aviv Asher, Katz Asher, Raz, Katz, Yoni Asher, Asher, Khan Younis, ” Mr Organizations: Nirim, Reuters, Associated Press, Associated, Credit Locations: Tel Aviv, Gaza, Israel, Ruth Munder ., Kfar Saba, Palestinian, Nirim, South Africa, Norway, Mozambique, “

Twelve of those newly released were among the roughly 75 people who had been kidnapped from Kibbutz Nir Oz on Oct. 7. Ruth is a retired hairdresser and seamstress, according to Kibbutz Nir Oz. Danielle Aloni; Amelia Aloni, 5Danielle Aloni and her daughter Amelia were taken hostage while visiting Ms. Aloni’s sister, Sharon Cunio, a resident of Kibbutz Nir Oz. She was kidnapped from her safe room in Kibbutz Nir Oz after her husband, Sa’id Moshe, was killed during the Hamas assault. Hanna Katzir, 76Ms. Katzir helped oversee child care in Kibbutz Nir Oz for many years, according to a niece, Dalit Katzenellenbogen, who lives in Tel Aviv.

Persons: —, Kibbutz Nir Oz, Keren Munder, Munder, Ruth Munder, Ohad Munder, Ruth, Abraham Munder, Nir Oz, Abraham’s, Roee, Ohad, Abraham, Keren, Danielle Aloni, Amelia Aloni, Amelia, Aloni’s, Sharon Cunio, Sharon, David Cunio, Emma, Yuli, ”, Aloni, Adina Moshe, Moshe, Sa’id Moshe, Naama Ben, Moshe’s, ” Yaffa, Adar, Tamir Adar, Hanna Katzir, Katzir, Katzenellenbogen, Elad Katzir, Rami, Hanna Peri, Peri, Ms, Margalit Moses, Moses, Doron Katz Asher, Raz Asher, Aviv Asher, Katz Asher, Raz, Efrat Katz, Katz, Yoni Asher, Asher, Khan Younis Organizations: Nirim Locations: Tel Aviv, Gaza, Israel, Kfar Saba, Palestinian, Nirim, South Africa, Norway, Mozambique

The family of Avigail Idan, a small child whose parents were murdered in front of their children by Hamas militants at a kibbutz during the Oct. 7 assault, hoped that they would be able to celebrate her fourth birthday with her on Friday. “I find myself barely breathing through the last 24 hours,” her aunt, Tal Idan, said after the announcement of the agreement. Image An undated photo (from left) of Avigail Idan, Roy Idan, Michael Idan, Amelia Idan, and Smadar Idan. And in the Gaza Strip, Palestinians who have endured nearly seven weeks of intense airstrikes waited anxiously for the truce. Several international humanitarian organizations said the four-day cease-fire window was too tight to address the dire situation.

Persons: Mohammad Abu Salmiya, “, Tal Idan, ”, Avigail, Abigail ”, Idan, Roy Idan, Michael Idan, Amelia Idan, Smadar, Walaa Tanji, Tanji, Nagham, ” Shadi Hijazi, Catherine Russell Organizations: Al, Shifa, U.S ., West Bank, Qatar, UNICEF, . Security Locations: U.S, Nablus, Gaza

Overall, Adobe estimates one in five Americans plan to use buy now, pay later plans to purchase holiday gifts. Retailers have found that customers offered a buy now, pay later option are more likely to have bigger cart sizes or to convert from browsing to checking out. In its report, the Fed cites research that finds that customers spend 20% more when buy now, pay later is available. LexisNexis Risk Solutions provides many buy now, pay later lenders with alternative credit scores for assessing consumers seeking loans, including those who may not have a traditional credit score. In the past two years, Williams has used buy now, pay later plans at stores including Target, BoxLunch, EyeBuyDirect, and Skims.

Persons: Vivek Pandya, Demishia Alford, Alford, “, ”, she’ll, I’ll, I’m, ” Kevin King, Kevin, ” Alford, Jessica Sarceda, ” Sarceda, Sarceda, Allison Williams, Williams, —, ” Jinal Shah, Charles Schwab Organizations: —, Federal Reserve Bank of New, Adobe, Adobe Digital, ”, Retailers, Fed, Consumers, Walmart, LexisNexis, Solutions, Nike, Target, Zip, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: Federal Reserve Bank of New York, Greensboro , North Carolina, Santa Monica , California, Amelia , Ohio

Millions of people in Pakistan are trapped at brick kilns paying off debts that mysteriously keep growing. We followed one family's journey out.

Locations: Pakistan

☆ The hot word for CEOs on earnings calls is 'choiceful'
▼ + stars: | 2023-11-20 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

So far in 2023, choiceful has appeared in 15 quarterly earnings calls for S&P 500 companies, according to a CNBC analysis of FactSet transcripts. In 2021, only the CEOs of Molson Coors and McCormick said "choiceful" when speaking to investors on their quarterly conference calls. But the Oxford English Dictionary notes the earliest known use of the word in the late 1500s. These days, CEOs have used it to describe a consumer whose behavior has changed over the last two years. That's where "choiceful" comes in handy again.

Persons: Doug McMillon, choiceful, That's, McCormick, Laxman Narasimhan, it's, Ralph Lauren, Patrice Louvet, Molson Coors, Gavin Hattersley, we've, McDonald's Kempczinski Organizations: Walmart Inc . Corporation, Automation, Innovation, CNBC, Molson Coors, Webster, Oxford English, Consumers Locations: Washington , DC, Merriam, McDonald's

☆ McDonald's increases its minority stake in China business
▼ + stars: | 2023-11-20 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Customers wait for their takeout food outside a McDonald's restaurant during the May Day holiday on May 1, 2022 in Beijing, China. McDonald's is buying Carlyle's stake in its China business, increasing its minority share from 20% to 48% ownership. The fast-food giant sold off control of its restaurants in mainland China, Hong Kong and Macau in 2017 for $2.1 billion. At that time, Citic, a state-owned investment firm, took the majority stake, while private equity giant Carlyle bought a 28% stake. Citic still retains its 52% stake in the business.

Persons: Carlyle, McDonald's, Citic, Chris Kempczinski Locations: Beijing, China, Hong Kong, Macau

☆ Starbucks workers file more labor complaints with NYC as union goes on largest-ever strike
▼ + stars: | 2023-11-16 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Members of a recently formed union of Starbucks workers hold a rally to celebrate the first anniversary of their founding, December 9, 2022 in New York City. Starbucks workers in New York City have filed 14 more complaints alleging that the coffee giant violated the city's labor laws. Starbucks baristas have repeatedly accused the company of running afoul of the law: They have filed nearly 70 complaints with the city related to the law since February. The allegations come as Starbucks baristas at more than 200 locations nationwide strike Thursday, on the company's busy Red Cup promotion day. Starbucks Workers United said the strike is protesting understaffing at the company's locations, particularly on promotion days.

Persons: understaffing, baristas, Deborah Hall Lefevre, Sara Kelly, Chipotle, Alberto Oliart Organizations: Starbucks, Red, Starbucks Workers United, Workers, National Labor Relations Board, city's Department of Consumer and Worker Protection, CNBC Locations: New York City, York City, Brooklyn

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