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NEW YORK, Oct 24 (Reuters) - Yum Brands Inc (YUM.N) on Monday said that it reached a deal to sell its KFC restaurants in Russia to a local operator there, paving a path to fully exit the country. The restaurant operator, which also owns the Taco Bell and Pizza Hut brands, will transfer ownership of its Russian KFC locations, operating system and master franchise rights to Smart Service Ltd, which is run by existing Russian KFC franchisees Konstantin Yurievich Kotov and Andrey Eduardovich Oskolkov, Yum said in a press release. Once it is completed, Yum "will have ceased its corporate presence in Russia," the company said. In July, Yum said it transferred ownership of its Pizza Hut assets to a local Russian operator. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Hilary Russ; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.
Stock market continues to sizzle this month
  + stars: | 2022-10-24 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +2 min
New York CNN Business —October may be famous for historically horrifying stock market crashes like the ones in 1929, 1987 and 2008. Stocks enjoyed another solid rally Monday, continuing a hot streak for the markets this month. The S&P and Nasdaq are each still down more than 20% in 2022, though, which means they are in a bear market. American companies with significant exposure to the Chinese market were also hit hard and sat out the broader market rally. Brands (YUM) was down 2% while Yum China (YUMC), which franchises the KFC, Pizza Hut and Taco Bell brands in China, plunged 14%.
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Factbox: Companies sell their businesses in Russia
  + stars: | 2022-10-10 | by ( ) www.reuters.com   time to read: +9 min
The logo of French tyre maker Michelin is seen at a company building in Boulogne-Billancourt, near Paris, France, August 6, 2022. REUTERS/Sarah Meyssonnier/File PhotoOct 10 (Reuters) - Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they seek to comply with sanctions over the Ukraine conflict and deal with threats from the Kremlin that foreign-owned assets may be seized. Below is a list of firms by sector that have sold their businesses in Russia:AUTOS** British car distributor Inchcape (INCH.L) sold its Russian business to local managementRegister now for FREE unlimited access to Reuters.com Register** Italian truck and bus maker Iveco (IVG.MI) transferred its 33% stake in its AMT truck assembly joint venture in Russia to a local partner** French tyre maker Michelin (MICP.PA) intends to transfer its activities in Russia to a new entity under local management by end-2022** French carmaker Renault (RENA.PA) sold its majority stake in Avtovaz (AVAZI_p.MM) to a Russian science institute, and transferred all shares in Renault Russia to the city of Moscow** MAN Truck & Bus and Scania, units of German truck maker Traton (8TRA.DE), expect to sell their sales companies in Russia to local partners along with Scania's Russian financing business by Q1 2023BANKS** Britain's HSBC (HSBA.L) agreed to sell its Russian business to Expobank, subject to regulatory approvals in Russia** Czech investment group PPF sold its Russian banking assets, including consumer lender HCFB and its subsidiaries, to investors led by Ivan Tyryshkin** France's Societe Generale (SOGN.PA) sold its Russian business Rosbank (ROSB.MM) to Interros Capital, a firm linked to Russian oligarch Vladimir PotaninCONSUMER ELECTRONICS** Swedish home appliance maker Electrolux (ELUXb.ST) transferred its business in Russia to local management** Its Electrolux Professional (EPROb.ST) branch also sold its Russian business to local management** Whirlpool (WHR.N) sold its Russian operations to Turkey's Arcelik (ARCLK.IS)ELECTRICAL COMPONENTS & EQUIPMENT** Finland's Boreo (BOREO.HE) sold its 90% stake in YE Russia to companies controlled by its current director Yrjö Pönni** U.S. industrial firm Emerson Electric (EMR.N) agreed to sell its Russia business to the local management** Finnish elevator maker Kone (KNEBV.HE) expects to close the sale of its Russian business to local management in Q4 2022** France's Schneider Electric (SCHN.PA) expects to close the sale its Russian unit to local management by end-2022** U.S. elevator maker Otis (OTIS.N) sold its Russia business to local investment firm Ice DevelopmentENERGY** French industrial gases producer Air Liquide (AIRP.PA) agreed to shift its Russian assets to local management, subject to regulatory approvals in Russia** Baker Hughes (BKR.O) agreed to sell its oilfield services business in Russia to local management, with closing expected in H2 2022** Italian utility Enel (ENEI.MI) sold its 56.43% stake in Enel Russia to Lukoil (LKOH.MM) and private fund Gazprombank-Frezia** Norway's Equinor (EQNR.OL) transferred assets of its Russian oil and gas joint ventures to state-owned partner Rosneft (ROSN.MM), and its 30% stake in the Arctic Kharyaga oilfield to state-controlled Russian operator Zarubezhneft** U.S. oilfield services firm Halliburton (HAL.N) sold its Russia operations to a management team made up of former employees** Oil major Shell (SHEL.L) sold its Russian retail and lubricants business to Lukoil** Singapore-based commodities trader Trafigura sold its 10% stake in Vostok Oil project in Siberia to Hong Kong-registered trading firm Nord Axis** Total Energies (TTEF.PA) sold its remaining 20% interest in the Kharyaga oil project to Zarubezhneft, and its 49% stake in Terneftegaz to joint venture partner NovatekFOOD & BEVERAGES** Finland's Atria (ATRAV.HE) sold its fast food business in Russia, Sibylla Rus, to Russian meat producer Cherkizovo (GCHE.MM)** Finland's Fazer sold its Russian unit to Moscow's Kolomenskij Bakery and Confectionery Holding** Irish ingredients giant Kerry Group (KYGa.I) sold its Russian subsidiary to local management and agreed to offload its Belarusian unit to a local operator** Fast food chain McDonald's (MCD.N) sold its Russian business to its licensee Alexander Govor** Finnish food and drinks company Paulig sold its operations in Russia to private Indian investor Vikas Soi** Yum Brands (YUM.N) sold its Pizza Hut business in Russia to a local operator** Finnish food processing firm Raisio (RAIVV.HE) sold its consumer business in Russia to Copacker Agro** Finnish dairy producer Valio sold its Russian business to GK VelkomINDUSTRIAL MACHINERY** Polish measuring devices maker Apator's (APTP.WA) Powogaz unit divested its entire stake in Russia-based AO Teplovodomer** Danish industrial firm Danfoss agreed to sell its Russian and Belarusian business to local management, subject to approval by shareholders and regulatory approvals in Russi
"My dad says I'm taking the joy out of a restaurant," Frischling said. "If this industry doesn't keep up, we're not going to have so many restaurants," Frischling told Insider. Frischling is part of a wave of restaurant operators and high-profile chains investing millions in the industry's future. Over the years, Chipotle, Inspire Brands, and Restaurant Brands International — the owner of Burger King and Popeyes — have invested in autonomous-delivery vehicles, ghost kitchens, and digital-ordering software. IGC HospitalityThe New York restaurant company, also known as In Good Company Hospitality Group, invested in the restaurant-tech firm MarginEdge in 2021, according to PitchBook.
His "stank walk challenge" video went viral two months later, and brands started reaching out. Nate White had been posting on TikTok for a month when he saw the viral "stank walk challenge" his friend Crayzrah created in April 2020. He started making money from social media later that month when brands reached out to collaborate. Now, White has 1.8 million followers on TikTok and almost 340,000 followers on Instagram. Brands pay him to make in-person appearances at events, post a video on his account promoting a product, or appear in campaign videos.
Taco Bell will test meatless carne asada made with Beyond Meat at dozens of its restaurants in Dayton, Ohio, starting next month. Around that time, Taco Bell promised to test a menu item made with Beyond, but it took longer than expected to create a carne asada alternative that satisfied Taco Bell, Bloomberg reported in December. Starting Oct. 13, participating Taco Bell locations will sell the steak substitute for a limited time at the same price as its existing carne asada. Taco Bell plans to feature Beyond Carne Asada in its quesadilla, but customers can swap in the meat alternative for other orders as well. The test is meant to help Taco Bell measure the demand for Beyond Carne Asada.
London (CNN Business) Much of Britain will come to a standstill on Monday for the funeral of Queen Elizabeth II . A company spokesperson told CNN Business that its venues would open on Monday "for communities to gather to mourn and reflect together on the life of the Queen." Travelodge, which has 78 budget hotels in London, said its staff were working "around the clock" in preparation for the Queen's funeral. Most major supermarkets — which normally remain open on public holidays for a reduced number of hours — are planning to close for the funeral. Apple AAPL confirmed to CNN Business that it would close all of its 39 stores in the country on Monday.
London (CNN Business) Much of Britain came to a standstill on Monday for the funeral of Queen Elizabeth II . A company spokesperson told CNN Business that its venues would open on Monday "for communities to gather to mourn and reflect together on the life of the Queen." Travelodge, which has 78 budget hotels in London, said its staff were working "around the clock" in preparation for the Queen's funeral. Most major supermarkets — which normally remain open on public holidays for a reduced number of hours — are planning to close for the funeral. Apple AAPL confirmed to CNN Business that it would close all of its 39 stores in the country on Monday.
Pizza Hut poked fun at it by introducing a so-called "Italian taco." The "Italian taco", as it turns out, is just a regular slice of pizza folded at the corners to form a taco shape. In a since-deleted tweet, Pizza Hut introduced what it called the "Italian taco." Pizza Hut/TwitterPizza Hut also took a jab at Taco Bell for the months-long period in which the Mexican Pizza was sold out. The Italian Taco has been here and will be here forever," a Pizza Hut representative told Food & Wine.
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Tuesday Caterpillar is set to report earnings before the bell, followed by a conference all with management at 8:30 a.m. What history shows: Caterpillar has reported a better-than-expected profit in each of the last eight earnings days, FactSet data shows. What history shows : FactSet data shows Airbnb has beaten analyst expectations in the last four quarters. What history shows: FactSet data shows Paramount has missed earnings expectations in two of the past four quarters. Block is set to report earnings after the close, with management set to hold a call at 5 p.m.
Рестораны KFC в Румынии и KFC в Молдове завершили первый квартал с совокупной EBITDA в размере 19,6 млн румынских леев (3,92 млн евро) и чистой прибылью в размере 13,9 млн RON (2,78 млн евро). Причём KFC в Республике Молдова сообщил о росте продаж на 19% по сравнению с первым кварталом 2020 года, что обусловлено увеличением продаж с доставкой на 8%. Об этом сообщает mybusiness.md со ссылкой на отчёт Sphera Franchise Group, крупнейшей группы в сфере общественного питания в Румынии, которая владеет компаниями, управляющими брендами KFC, Pizza Hut и Taco Bell в рамках системы франчайзинга. Taco Bell România показала убытки в размере 1 млн леев, Pizza Hut România - 3,7 млн леев. С учётом того, что в целом в первом квартале 2021 г. группа зафиксировала продажи во всех ресторанах на 211,4 млн леев, что на 1,5% выше, чем в 4 квартале 2020 г., и на 6,6% выше, чем в первом квартале 2020 г., можно предположить, что сектор HoReCa постепенно начал восстанавливаться (хотя бы частично) после сильного падения в прошлом году.
Persons: RON, Taco Bell Organizations: KFC KFC, KFC, Bell, Бухарестская фондовая биржа Locations: Румыния, Молдова, Республика Молдова
CNN —It’s National Pizza Day – so let’s wrap ourselves in the warm, gooey embrace of cheese, settle into a heavenly array of toppings and chomp down on some delectable crust. Still to come: National Cheese Pizza Day (September 5), National Pepperoni Pizza Day (September 20), National Pizza Month (October) and National Sausage Pizza Day (October 11). Here are some absurd pizza facts, helpful tips and strong opinions to fuel your munching:Italy divided over new pineapple pizza2024 might be the year that pineapple pizza cracks Italy, thanks to Gino Sorbillo. People love setting pizza recordsCooks work inside the Los Angeles Convention Center on January 18, 2023, to create the world's largest pizza. Here are just a few:World’s largest pizza: In Los Angeles, Pizza Hut and YouTube star Airrack set a new record for the world’s largest pizza, coming in at 13,990 square feet.
Persons: CNN —, it’s, Gino Sorbillo, He’s, Shannon O'Hara, Mike Blake, Paul Fenech, Niko Apostolakis, we’re, Stanley Tucci Organizations: CNN, Getty, North, Yale Food, US, 113th Military Intelligence Unit, New Yorker, Los Angeles Convention Center, Reuters Guinness World Records, Mount, PETA, Mafia Locations: Italy, Naples, dei, North America, USA, Chicago, New York, West Coast, Europe, Los Angeles, Madrid, Wellington , New Zealand, Mount Kilimanjaro, Tanzania, Vegas, Philadelphia, France
Driving around food deliveries might not be the most glamorous job, but it does provide plenty of memorable moments. AdvertisementA recent AskReddit thread asked workers to share weird and wild tales from delivery shifts they'd worked in the past. Out of hundreds of responses, the following 12 anecdotes stood out as some of the absolute weirdest. - Redditor Perceptions89'A 10-year-old girl opened the door and told me that I interrupted her.' A 10-year-old girl opened the door and told me that I interrupted her.
Persons: they'd, timidly, lemonsmith, William Thomas Cain, Steamboat87, Young, They'd, Walter White, munch, Bethany, Willis, didn't, I've, I'm Organizations: Wikimedia, LSU Locations: Domino's, undies
Total: 15