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☆ T.J. Maxx is in prime position to benefit from Trump's trade policies
▼ + stars: | 2024-11-22 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

AdvertisementT.J. Maxx is set to benefit from Trump's proposed tariffs on imports. T.J. Maxx could end up benefiting from Trump's suggested tariffs. Related Video Truth Social just brought Trump a $4 billion windfall, but experts aren't soldThis means more opportunities for T.J. Maxx to buy stock as excess inventory kicks around the market. For consumers forced to trade down or priced out of their usual retail spots, T.J. Maxx might present itself as the perfect option. AdvertisementTJX, the parent company of T.J. Maxx, Marshall's, and Home Goods, beat Wall Street's estimates in the third quarter, reporting revenue of $14.1 billion, up 6% from the previous year.

Persons: Maxx, Trump, aren't, Chris Walton, Lorraine Hutchinson, Neil Saunders Organizations: Target, Omni, Bank of America, Home Goods, GlobalData Locations: T.J, China

☆ Sarah Silverman says her lawsuit against OpenAI is difficult because the company is one of the 'richest entities in the world'
▼ + stars: | 2024-11-21 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +4 min

Silverman discussed her copyright infringement lawsuit against OpenAI, which owns ChatGPT. Comedian Sarah Silverman opened up about her copyright infringement lawsuit against Sam Altman's OpenAI, which owns the artificial intelligence chatbot ChatGPT. The lawsuit's defendants include OpenAI, L.P. and OpenAI GP, L.L.C, among other entities. The plaintiffs originally sued OpenAI for direct copyright infringement, vicarious copyright infringement, violating The Digital Millennium Copyright Act, unjust enrichment, violating the California and common law unfair competition laws, and negligence. The judge dismissed all the claims except direct copyright infringement and unfair competition, prompting the plaintiffs to file an amended lawsuit in March.

Persons: Sarah Silverman, Rob Lowe's, Silverman, Sam Altman's OpenAI, ChatGPT, Rob Lowe, OpenAI, Sam Altman, Nehisi Coates, Laura Lippman, Paul Tremblay, Jason Redmond, It's, Lowe, that's Organizations: Rob Lowe's Sirius XM, OpenAI, Microsoft, Court, Northern District of, Northern District of California San Francisco Division, Business, Copyright Locations: Northern District, Northern District of California, AFP, California

☆ 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

☆ Microsoft introduces PC that has one job: connect users to their computers in the cloud
▼ + stars: | 2024-11-19 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Microsoft CEO Satya Nadella watches from the audience during a press briefing at Microsoft's campus in Redmond, Washington, on May 20, 2024. Microsoft is previewing a new PC that's designed to connect corporate workers to their programs and files in the cloud. The Windows 365 Cloud Link is available in limited use in the U.S., Canada and a handful of other countries. After years spent failing to crack the list of top PC manufacturers with its Surface product line, Microsoft is trying something new in an established category of hardware. It runs a stripped-down operating system called Windows CPC, with no local applications or local users, and has a strict application control policy that can't be disabled.

Persons: Satya Nadella, Jalleen Ringer Organizations: Microsoft, CNBC, Windows Locations: Redmond , Washington, U.S, Canada

☆ 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

☆ 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

☆ 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

☆ 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

☆ 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

☆ 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

☆ 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.

☆ Here are Tuesday's biggest analyst calls: Apple, Microsoft, Palantir, Eli Lilly, Broadcom, Krispy Kreme, Live Nation & more
▼ + stars: | 2024-11-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley reiterates Live Nation as overweight Morgan Stanley raised its price target on the stock to $140 per share from $120. Bank of America reiterates Apple as buy Bank of America says it sees "limited" impact to Apple earnings regardless of the Presidential outcome. Bank of America reiterates Palantir as buy The firm says Palantir is an AI "juggernaut" following earnings on Monday. Bank of America reiterates Arista Networks as buy Bank of America says it sees share gains ahead for the networking equipment company. Morgan Stanley reinstates Krispy Kreme as equal weight Morgan Stanley says Krispy Kreme has a balanced risk/reward right now.

Persons: Morgan Stanley, it's bullish, Eli Lilly, Palantir, Bernstein, Eaton, Deutsche, there's, Jefferies, Rick Dreiling, MTZ, Morgan Stanley reinstates Krispy, Krispy Kreme Organizations: Bank of America, Boeing, JPMorgan, RBC, Microsoft, " Bank of America, Broadcom, Apple, Republicans, Arista Networks, Arista, Meta, Deutsche Bank, eBay, Barclays, Energy, Infrastructure, Communications, Resources, IDA Locations: San Antonio, Redmond , WA

☆ 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

Expect a “noisy” jobs report Friday that will be heavily affected by storms and a labor strike, economists say. The Bureau of Labor Statistics is forecast to report that the U.S. economy gained 110,000 jobs in October, with the unemployment rate unchanged at 4.1%. “Unfortunately, it won’t be easy to interpret the October jobs report,” Chris Waller, a member of the Fed’s Board of Governors, said earlier this month. At 4.1%, the unemployment rate is still historically low, while the rate of inflation has effectively returned to the Fed’s 2% annual target. “Without an increase in hiring, even moderate levels of job losses will likely cause the unemployment rate to pick up.”

Persons: ” Chris Waller, Helene, Milton, Jason Redmond, ”, Julia Pollak, Pollak, Biden Organizations: Labor Statistics, Boeing, Fed’s, of Governors, International Association of Machinists, Aerospace Workers, Getty, ZipRecruiter, Bureau of Labor Statistics, U.S . Department of Labor, Citi Locations: U.S, Tuesday’s, Seattle, AFP

☆ 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

☆ Microsoft is still spending massively on AI
▼ + stars: | 2024-10-30 | by ( Tim Paradis | ) www.businessinsider.com time to read: +4 min

Investors have been focused on Big Tech AI spending and returns. That's a worry at Microsoft partly because feedback on the company's Copilot AI has been mixed. Others have been concerned that Big Tech spending on artificial intelligence is outpacing results. Goldman said Microsoft has been counting on its AI Copilot and other generative AI efforts at Windows, Edge, and Microsoft 365 to draw enterprise clients. AdvertisementMuch of Microsoft's spending has been going toward data centers, graphics processing units, and other AI projects.

Persons: —, Jeremy Goldman, Goldman, it's, Satya Nadella, Francine McKenna Organizations: Investors, Big Tech, Service, Microsoft, Apple, Windows, Bloomberg Locations: Redmond, Washington, OpenAI

☆ 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

☆ Saudi Arabia will reportedly give a select group of visitors a first glimpse of Neom, showing them Sindalah — a luxury island retreat in the Red Sea
▼ + stars: | 2024-10-25 | by ( Nora Redmond | ) www.businessinsider.com time to read: +3 min

Some guests at Saudi Arabia's annual investment conference will have the chance to visit part of Neom. A group of visitors will be taken to Sindalah, an island retreat in the Red Sea, Bloomberg reports. AdvertisementAs guests descend upon Saudi Arabia for a major annual investment conference, some will have the opportunity to see the country's futuristic megacity, Neom, firsthand. Days before the conference begins, a select group of guests has been invited to visit Sindalah Island, per Bloomberg. Sindalah is a luxury island complex in the Red Sea off Saudi Arabia's west coast designed as a "unique escape" for visitors to Neom.

Persons: Neom, —, BlackRock's Larry Fink, Goldman Sachs, David Solomon, Citigroup's Jane Fraser, Julia Hoggett, Ken Griffin, Sindalah, Prince Mohammed bin Salman, Malcolm Aw Organizations: Saudi, Bloomberg, Service, Investment Initiative, London Stock, Solar, Business Locations: Neom, Red, Saudi, Saudi Arabia, Riyadh, Sindalah

☆ Denny's is closing 150 locations in the latest sign of the squeeze on family dining
▼ + stars: | 2024-10-25 | by ( Nora Redmond | ) www.businessinsider.com time to read: +4 min

AdvertisementDenny's is the latest casualty of the squeeze on family dining chains, announcing this week that it plans to close about 150 locations before 2026. "We believe this is absolutely the right thing to do to make our system stronger," Denny's CEO Kelli Valade told investors. "Everyone has lost traffic," Denny's CEO Valade said. The turn toward takeoutThe rise in takeout has also impacted family dining as more customers look to order food in rather than go out. "They are drawing customers away from traditional family dining establishments," Puzhakov said.

Persons: —, Kelli Valade, Valade, Gregg Majewski, Neil Saunders, Tomas Gorny, Gorny, Elijah Puzhakov, Puzhakov Organizations: Service, Securities, Exchange, Craveworthy Brands, McDonald's, KFC Locations: Olive, takeout

☆ Microsoft CEO Nadella asked for pay reduction after security slip, but total comp still rose 63%
▼ + stars: | 2024-10-24 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella speaks at an event on the company's Redmond, Washington, campus on May 20, 2024. Microsoft gave CEO Satya Nadella a pay raise for the 2024 fiscal year of more than $30 million. The board's compensation committee said Nadella asked that the cash incentive portion reflect the security issues. It was originally supposed to be $10.66 million, but the full board approved a $5.2 million cash incentive instead. Microsoft's security business generated over $20 billion in revenue in 2022, more than total revenue for many security companies.

Persons: Satya Nadella, Nadella Organizations: Apple Inc, Microsoft, U.S . Department of Homeland Security Locations: Redmond, Washington

☆ New Boeing CEO to give clues on company's future, while striking workers vote on new contract
▼ + stars: | 2024-10-22 | by ( Leslie Josephs | ) www.cnbc.com time to read: +5 min

When he takes the mic for his first earnings call as Boeing's CEO on Wednesday, more than 32,000 striking machinists will start voting on a new, sweetened contract proposal. Narrowing businessesOrtberg, a longtime aerospace veteran who previously ran Rockwell Collins, took the reins at Boeing in early August. Boeing's new CEO Kelly Ortberg visits the company's 767 and 777/777X programs' plant in Everett, Washington, U.S. August 16, 2024. watch nowMending ties with workers, stabilizing supply chainThe results of the union vote will come out hours after the earnings call. Meanwhile, the strike is costing Boeing $1 billion a month, according to S&P Global Ratings estimates.

Persons: Ryan Bergh, Jason Redmond, JASON REDMOND, Kelly Ortberg, Rockwell Collins, Ortberg, Marian Lockhart, Ken Herbert, Leslie Josephs Organizations: International Association of Machinists, Aerospace Workers, Seattle Union Hall, Getty, AFP, Boeing, Reuters, Air Force One, Workers, CNBC Locations: Everett , Washington, Seattle , Washington, AFP, underperformance, Everett , Washington , U.S, Seattle, Renton , Washington

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