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☆ McDonald's is bringing back cheap fast food with its McValue menu
▼ + stars: | 2024-11-21 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

AdvertisementMcDonald's is launching a new value menu to attract budget-conscious customers in the US. The chain has raised prices in recent years in response to inflation, putting off some customers. McDonald's is preparing to launch its new value menu in the US to win back cash-strapped shoppers. The chain has touted this new menu in recent earnings calls, saying it plans to roll it out in Q1 next year. But McDonald's is investing $100 million to regain trust, per a memo sent to employees seen by CNN.

Persons: McDonald's Organizations: Bloomberg, US Centers for Disease Control, CNN

☆ Target shares plummet 18% in premarket trade as it posts disappointing earnings and cuts guidance
▼ + stars: | 2024-11-20 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

The retailer cut its full-year financial guidance and reported sales growth of just 0.3%. Target shares plunged as much as 18% in premarket trading after the retailer posted disappointing third-quarter earnings and lowered its financial guidance for the year. On Wednesday, Target reported adjusted earnings per share of $1.85, down just under 12% year-over-year. AdvertisementIn the release, Target also cut its full-year financial guidance, saying it expects earnings per share of between $8.30 and $8.90. At its second-quarter earnings in August, the retailer said it expected full-year EPS of between $9 and $9.70.

Persons: Brian Cornell Organizations: Analysts, Revenue, Target Corporation, Target, Walmart, Costco

The the theft by armed men of nearly 100 trucks loaded with food and other humanitarian aid over the weekend sent prices soaring and caused shortages in central Gaza where hundreds of thousands are crammed into squalid tent camps. On Monday, a crowd of people waited outside a shuttered bakery in the central city of Deir al-Balah. A woman who had been displaced from Gaza City, identifying herself as Umm Shadi, said the price of flour had climbed to 400 shekels (over $100) a bag, if it can even be found. Nora Muhanna, another woman displaced from Gaza City, said she was leaving empty-handed after waiting five hours for a bag of bread for her children. Around 100 hostages are still inside Gaza, at least a third of whom are believed to be dead.

Persons: Umm Shadi, Nora Muhanna, ”, Stephane Dujarric, Bassem Naim Organizations: United Nations, Hamas Locations: Gaza, Israel, Deir, Gaza City, Aqsa, Qatar, Rafah

☆ Ikea group CEO tells BI shoppers are trading down to save money
▼ + stars: | 2024-11-19 | by ( Nora Redmond | ) www.businessinsider.com time to read: +3 min

And while the past year has been challenging, this strategy is paying off, according to Jasper Brodin, CEO of Ikea's parent company, Ingka Group. "People have the same needs, but they have much less money in their wallet," he added. AdvertisementHowever, Ikea has benefited from investing in low prices because it has attracted more shoppers away from pricier rivals. AdvertisementBecause of this, he said that Ikea customers are largely engaging in needs-based shopping, picking up the necessities first, like a new bed or kitchen table, instead of non-essential items. "There is a large stimulus package coming from the government right now, which is helping, but people have been holding on to their money," Brodin said.

Persons: Jasper Brodin, — Brodin, —, Nora Redmond, lockdowns, Brodin Organizations: Ikea, Ingka, Oxford, Starbucks Locations: London, China

☆ Apple reportedly offers $100 million investment to end iPhone 16 sales ban in the world's 4th-most-populous country
▼ + stars: | 2024-11-19 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

AdvertisementApple has offered a $100 million investment to lift Indonesia's iPhone 16 sales ban, Bloomberg says. Indonesia has blocked iPhone 16 sales because they do not contain 40% locally made components. Apple has reportedly offered to invest $100 million in Indonesia to reverse a ban on iPhone 16 sales in the world's fourth-most populous nation. AdvertisementIndonesia's Ministry of Industry last month blocked Apple from selling its iPhone 16, which first launched in September, for failing to comply with regulations. As the world's fourth-most populous nation with over 280 million citizens, Indonesia is an increasingly important Apple market.

Persons: —, Apple hadn't Organizations: Apple, Bloomberg, Indonesia's Ministry, Industry, Indonesia's Ministry of Industry, Business Locations: Indonesia, Cupertino, Asia's, Bandung, Jakarta

Labor leaders say Democrats need to rethink their approach to working-class voters. Former Fox News host Pete Hegseth’s attorney confirmed he paid a woman after she accused him of sexual assault. He also denied that the encounter between Hegseth and an unnamed woman, which she alleges happened in 2017, was sexual assault. 🏈 The Kansas City Chiefs’ undefeated season is no more as the Buffalo Bills beat their AFC rivals 30-21 at home. Bills quarterback Josh Allen threw for 262 yards with one touchdown and one interception as Buffalo improved to 9-2.

Persons: Pete Hegseth’s, Democratic Party ’ Donald Trump, Chip Somodevilla, Kamala Harris ’, ”, Brent Booker, ” Booker, Mike Johnson, Trump, Brendan Carr, Roy Rochlin, Donald Trump, “, Parlatore, Dick Schoof, Nora Achahbar, NFL Gregory Bull, Greg Rosenstein, hird, 🐆 Organizations: Labor, Former Fox News, Union, Democratic Party, ’ International Union of, ”, Trump, Federal Communications Commission, Justice Department, FBI, Trump Pentagon, Fox News, NBC News, Washington Post, Authorities, Hegseth, Getty Images, Dutch, NFL, Los Angeles Chargers, Cincinnati Bengals, Sunday, NBC Locations: Amsterdam, Netherlands, West Palm Beach, Fla, Biden’s, ’ International Union of North America, Afghanistan, Hegseth’s, Monterey , California, Anadolu, Getty Images Amsterdam, Moroccan

☆ McDonald's is reportedly spending $100 million to help lure customers back after the E. coli outbreak
▼ + stars: | 2024-11-18 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

AdvertisementMcDonald's is investing $100 million into recovering from an E. coli outbreak, CNN reported. McDonald's said the outbreak led to a drop in restaurant visits and sales. McDonald's is reportedly spending $100 million to lure customers back to stores following an E. coli outbreak linked to slivered onions served on Quarter Pounder hamburgers. AdvertisementAn additional $65 million will be spent on the franchisees that were worst affected by the outbreak, it said. AdvertisementIts new marketing campaign will reportedly include TV ads that showcase a 10 McNuggets for $1 deal that can be redeemed through the chain's app.

Persons: McDonald's, Michael Gonda, Tariq Hassan Organizations: CNN, Marketing, Business, US Centers for Disease Control, CDC Locations: North America

☆ HSBC reportedly asks middle managers to reapply for jobs as layoffs loom
▼ + stars: | 2024-11-18 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

AdvertisementHSBC has reportedly asked some managers to reapply for their jobs as part of a cost-cutting restructure. Bloomberg reported Monday that hundreds of senior staff will likely lose their jobs. HSBC has asked some managers to reapply for their jobs in its newly created corporate and institutional banking division as part of a cost-cutting drive, Bloomberg reported. The biggest change announced was the simplification of HSBC's structure, creating Eastern and Western arms to manage its global operations. He previously told staff in October that they should expect job cuts following the announcement of the revamp, Reuters reported at the time, citing an internal memo.

Persons: Georges Elhedery, Elhedery Organizations: HSBC, Bloomberg, Business Insider, Business, Reuters Locations: Asia, Pacific, Americas, London

☆ 'Nobody Wants This' season 2 is coming. Here's what we know about the future of the charming Netflix rom-com.
▼ + stars: | 2024-11-16 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +4 min

Advertisement"Nobody Wants This" is a Netflix rom-com series starring Kristen Bell and Adam Brody. She meets Noah, a young rabbi played by Adam Brody, at a party, and they immediately hit it off. AdvertisementHere's everything we know about "Nobody Wants This" season two, including when it's hitting Netflix. Adam Rose/Netflix'Nobody Wants This' season 2 is officially a goNetflix announced in October that it had renewed "Nobody Wants This" for a second season. Adam Rose/Netflix'Nobody Wants This' season 1 ends with a big cliffhangerAt the end of season one, Joanne backs away from her relationship with Noah.

Persons: Kristen Bell, Adam Brody, Bell's, Noah, Erin Foster, Morgan, Justine Lupe, Bell, Joanne, Adam Rose, Jenni Konner, Bruce Eric Kaplan, Nora Silver, IndieWire, Foster, Hopper, Brody, Variety, Lupe, Esther, Noah's, Jackie Tohn, Sasha, Timothy Simons, she's, Vulture Organizations: Netflix, Hollywood

☆ I got sober thanks to a monthly shot of a drug that helps stop my craving for alcohol. I lost 70 pounds in the process.
▼ + stars: | 2024-11-15 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

He wasn't present for his son as he grew up since he could only think about his next drink. The granddad finally got sober at 50 by getting monthly shots of a drug that manages his cravings. I wasn't present for my son, Joel, when he was growing up. AdvertisementIn high school, I'd drink at parties and friends' houses. I told Suzanna to get rid of my distilling equipment in the basement.

Persons: Jeff Horton, Joel, let's, I'd, I've, Suzanna, We'd, It's, Harley, Nora, —, I'm Organizations: Sinai Wellness, XXL, Business Locations: Tucker , Georgia, We'd, Florida, Jamaica, Dahlonega , Georgia

☆ Costco recalled almost 80,000 pounds of butter because the labels failed to say it contained milk
▼ + stars: | 2024-11-12 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

Costco has recalled 79,200 pounds of butter for failing to note it contained milk. The butter was produced by Continental Dairy Facilities Southwest and distributed in Texas. AdvertisementCostco recalled 79,200 pounds of butter last month because it failed to include a disclaimer that the product contained milk. AdvertisementThe 46,800 pounds of unsalted butter and 32,400 pounds of salted butter were distributed across Texas. Costco and Continental Dairy Facilities Southwest did not respond immediately to requests for comment from Business Insider, sent outside regular US working hours.

Persons: —, butters, Kirkland Organizations: Costco, FDA, Continental Dairy, Service, Kirkland, Drug Administration, Business Locations: Texas

☆ Elwood Edwards, the voice of AOL’s ‘You’ve Got Mail!’, dies at 74
▼ + stars: | 2024-11-08 | by ( ) www.nbcnews.com time to read: +2 min

Elwood Edwards, an announcer and local TV staffer who became internationally famous as the voice of AOL’s “You’ve got mail!” prompt to millions at the dawn of the internet era, has died, AOL announced. His daughter Sallie Edwards said the cause of death was complications from a stroke, the New York Times reported. Mimi Mollica / Shutterstock fileIn a 2016 interview with CNN’s Great Big Story, Edwards talked about his iconic AOL voice-over work. In a 2000 episode of “The Simpsons,” Edwards provided the voice of an online doctor delivering some bad news: “You’ve got leprosy!”Elwood Edwards. He noted good-naturedly that “You’ve got mail!” became a catchphrase that “I have a certain amount of trouble trying to escape.”

Persons: Elwood Edwards, “ You’ve, Sallie Edwards, AOL —, Edwards, “, Mimi Mollica, CNN’s, ” Edwards, ”, Nora Ephron, Meg Ryan, Tom Hanks, ” Elwood Edwards, WKYC, Karen Edwards, Steve Case, You’ve Organizations: AOL, New York Times, Quantum Computer Services, Yahoo, Apollo Global Management, Verizon, NBC, YouTube Locations: New Bern , North Carolina, Cleveland

☆ What Trump's win means for retail giants like Walmart, Target, and Costco
▼ + stars: | 2024-11-07 | by ( Dominick Reuter | Nora Redmond | ) www.businessinsider.com time to read: +7 min

Trump's second term likely means changes are on the way that will impact retailers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDonald Trump's return to the White House is likely to usher in sweeping changes that will impact retailers like Walmart, Target, and Costco — ranging from new tariffs to tax cuts and a new regulatory environment. Trump's campaign promises, along with his prior term record, offer some insights into what major retailers can expect from his second term. Advertisement"That's actually very unhelpful for a lot of retailers, especially in areas like technology, which a lot of retailers are involved," he said.

Persons: —, Donald Trump's, Donald Trump, Neil Saunders, it's, John David Rainey, Trump, Chris Walton, Walton, Jonathan Gold, Johns, Tinglong Dai, Saunders, He's, Lina Khan Organizations: Service, Walmart, Target, Costco, TractorTractor, Dick's Sporting Goods, Data, Omni, National Retail Federation, Trump, Pew Research, Federal, FTC, Kroger, Albertsons, Republican Locations: China, Johns Hopkins, Washington

☆ Food deliveries are getting more expensive — but we can't stop ordering
▼ + stars: | 2024-11-05 | by ( Nora Redmond | ) www.businessinsider.com time to read: +6 min

Research shows that ordering food for delivery has gotten expensive, yet demand remains high. But demand for food delivery has remained high — as has its price. Last week, food delivery company DoorDash, reported an 18% rise in orders year over year in its third quarter of 2024. A food delivery driver previously told BI that he decides to accept or pass on a variety of deliveries often based on the highest upfront tips. But despite lockdowns coming to an end and the country gradually opening back up, people grew accustomed to the trend of ordering food.

Persons: —, There's, Mills, Doug Martin, Uber, Anthony Miyazaki, Miyazaki, Alon Chen, Oliver Wright, Wright, Chris Olivola, It's, Olivola Organizations: Service, Business, Revenue, Florida International University, Starbucks, McDonald's, KFC, Accenture, Tepper School of Business Locations: Doordash, Olive

☆ Sales are sliding at KFC and Burger King as fast-food chains keep struggling
▼ + stars: | 2024-11-05 | by ( Mary Hanbury | Nora Redmond | ) www.businessinsider.com time to read: +2 min

Both KFC and Burger King saw sales fall in the US in the three months to the end of September. On Tuesday, Burger King owner Restaurant Brands International and the parent company of KFC followed in its footsteps. Comparable sales dropped by 0.4% for Burger King and 3.8% at Popeyes in the US. Fast-food chains have struggled recently as price hikes have increasingly put off some consumers. McDonald's, KFC, and Burger King are among those trying to lure back diners with new value menu deals.

Persons: It's, —, McDonald's, Burger, Taco Bell, Burger King, Tim Hortons Organizations: KFC, Burger King, Service, Restaurant Brands, ! Brands, Taco, Burger, Taco Bell Locations: Popeyes

☆ It's not getting any easier for fast-food chains
▼ + stars: | 2024-11-05 | by ( Mary Hanbury | Nora Redmond | ) www.businessinsider.com time to read: +2 min

Both KFC and Burger King saw sales fall in the US in Q3. On Tuesday, Burger King owner Restaurant Brands International and the parent company of KFC followed in its footsteps. AdvertisementMeanwhile, Restaurant Brands International, which owns chains including Burger King, Tim Hortons, and Popeyes, reported a weaker-than-expected 0.3% increase in same-store sales across the group for Q3. McDonald's, KFC, and Burger King are among those trying to lure back diners with new value menu deals. Some consumers say they're increasingly turning to independent restaurants, casual dining chains, or home cooking to get a better deal.

☆ BYD's hybrid popularity catches up to Tesla in China
▼ + stars: | 2024-11-05 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Tesla is falling behind in China as BYD's hybrids take off. Hybrid sales have helped to drive up overall plug-in sales in China this year. AdvertisementPlug-in sales in China (which include hybrid models) increased nearly 51% in October compared to last year, and the segment accounted for more than half of all car sales in China last month. Related storiesWhile Tesla continues to focus on battery-powered vehicles solely, BYD has grown its market share in China with popular hybrid offerings. At an earnings reporter earlier this year, Musk blamed a focus on hybrids for eating into Tesla's sales.

Persons: Tesla, —, Elon, BYD, Musk Organizations: Tesla, Service, China Passenger Car Association, EV Locations: China, Shanghai

☆ The China threat and the EV slowdown— 2 takeaways from a busy few weeks in auto news
▼ + stars: | 2024-11-03 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

A price war in China poses a threat to profitability. Amid the flurry of news, two themes stand out: the China threat and EV slowdown loom large for automakers. AdvertisementAnother EV price war threatens profitabilityIn China, the world's largest auto market, EV leaders BYD and Tesla are engaged in a bitter price war that initially weighed heavily on BYD's bottom line. The Chinese EV market is more competitive than ever, according the GM's Barra, who questioned the sustainability of a broader price war in the region driven by an uptick in Chinese EV startups selling inexpensive vehicles. Inexpensive Chinese EVs have long threatened the US EV market.

Persons: —, It's, Ford, Tesla, China's, Mary Barra, Barra, Mark Ford, he's Organizations: Service, Ford, Volkswagen, VW, EV, Companies, Power, Dealers Locations: China, Germany, Europe, BYD

☆ Why fast-food chains and big brands love loyalty programs
▼ + stars: | 2024-11-01 | by ( Nora Redmond | ) www.businessinsider.com time to read: +6 min

Fast-food chains and retailers are using loyalty programs to drive sales amid inflation challenges. AdvertisementRetailers and fast-food chains are leaning into loyalty programs to drive sales. Starbucks' loyalty program is also growing. AdvertisementThe power lies in the perksHowever, a good loyalty program should be about more than just the points. Advertisement"In a marketplace where choices are endless, a strong loyalty program doesn't just retain customers, it also builds a relationship that feels personal and valuable," she said.

Persons: —, McDonald's, Chris Kempczinski, Kempczinski, It's, Laxman Narasimhan, Paschal, Lindsey Wasson, Burger, Kevin Shahnazari, Zsuzsa Kecsmar, Zarina Stanford, doesn't, Kecsmar Organizations: Service, Global, Starbucks, Costco, AP, KFC, Burger King, Nike Locations: Colorado

☆ Technology for Your Board
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: 1 min

As companies face an increasingly complex digital landscape, new cybersecurity and AI governance standards are emerging. Technology is both a driver of value and a source of risk. So, is your Board prepared to stay ahead of these threats while simultaneously driving value? Guest: Nora Denzel, AMD Lead Independent Director and NACD Blue Ribbon Commission on Board Oversight of Technology Chair

Persons: Nora Denzel Organizations: Technology, AMD, Commission

☆ Why Tesla's sales are slipping in California, and what it means for Elon Musk's car company
▼ + stars: | 2024-10-30 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

Tesla's falling California sales point to bigger problems for the car company. AdvertisementTesla is losing some ground in its home state of California, signaling more trouble ahead for the world's largest electric car company. As electric car sales rose 2% in California, Tesla's sales in the state fell 3.5%, according to third-quarter figures from the California New Car Dealers Association. The losses don't upset Tesla's market dominance: the Elon Musk-led company still accounted for more than half of all EV sales in California for the quarter. "Tesla's sales are actually doing great," he said during a recent X space.

Persons: —, Tesla, That's, Elon, Elon Musk, Donald Trump, Jason Bateman, Bateman, Tim Walz, Sean Hayes, Will Arnett, it's, MAGA Organizations: Service, Car Dealers, EV, Hyundai, BMW, Republican, Trump, Cox Automotive Locations: California

☆ McDonald's sales dropped for the 2nd quarter in a row as customers keep tightening their belts
▼ + stars: | 2024-10-29 | by ( Nora Redmond | ) www.businessinsider.com time to read: +3 min

McDonald's global sales fell for the second consecutive quarter, down 1.5%. AdvertisementGlobal sales at McDonald's have fallen for a second consecutive quarter as the fast-food chain struggled in international markets, especially France, the UK, China, and the Middle East. Sales were down 1.5% in its third quarter, following from a 1% slide in the previous quarter, ending June 30. Comparable sales in the US were virtually flat, up 0.3% from the same period in 2023, while sales in international markets dropped 2.1%. Sales in licensed international markets fell 3.5%.

Persons: —, Chris Kempczinski, Neil Saunders Organizations: Service, Consumers Locations: France, China, McDonald's

☆ Restaurants made big changes to cope with the pandemic. Lots of them have stuck.
▼ + stars: | 2024-10-29 | by ( Nora Redmond | ) www.businessinsider.com time to read: +1 min

Restaurants made big changes during the pandemic to minimize the spread of COVID. Some of these changes have stuck, like QR code menus, higher cleaning standards, and more takeout. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . State after state introduced lockdowns, banning large groups of people and temporarily shutting eateries. Here is a list of a few of the changes which stuck.

Persons: —, Mary King Organizations: Service, The Locations: State

☆ The CEO of optics giant Olympus has resigned after accusations he bought illegal drugs, sending its shares plummeting
▼ + stars: | 2024-10-28 | by ( Nora Redmond | ) www.businessinsider.com time to read: +3 min

The CEO of optics giant Olympus has resigned after it was alleged that he had bought illegal drugs. Stefan Kaufmann's departure as CEO pushed the company's shares almost 6% lower Monday. AdvertisementOlympus Corporation's CEO, Stefan Kaufmann, has exited the optics giant following allegations he purchased illegal drugs. It said that based on the results, Kaufmann had likely acted inconsistently with Olympus' global code of conduct, core values, and corporate culture. Business Insider was unable to reach Stefan Kaufmann for comment.

Persons: Stefan Kaufmann's, —, Stefan Kaufmann, Kaufmann, Yasuo Takeuchi, Julie Hamp Organizations: Olympus, Service, Tokyo Stock Exchange, Police, Kyodo, Toyota Motor Corporation Locations: Tokyo, Japan

☆ VW's Scout Reveals Its First Rugged EVs to Take on Rivian
▼ + stars: | 2024-10-26 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Scout unveiled pre-production models of the Terra pickup truck and Traveler SUV at an event in Nashville this week. The electric Scout Terra pickup truck and Traveler SUV. AdvertisementA pre-production model of the Scout Terra pickup truck. Scout MotorsScout's rugged trucks are likely to compete directly with outdoorsy EV brand Rivian, which also offers electric pickup trucks and SUVs. The front seat of the electric Scout Terra pickup truck.

Persons: Rivian's R1T, —, Scout, Rivian, R1T, Scout's Organizations: VW, Scout, Service, Scout Motors, Terra, Scouts, outdoorsy, Volkswagen, EV Locations: Nashville

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