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☆ Chipotle says it's going to hike prices to help pay for new $20 per hour wage hike for workers in California
▼ + stars: | 2023-10-27 | by ( Grace Dean | Nancy Luna | ) www.businessinsider.com time to read: +4 min

Chipotle separately just raised menu prices by 3%. Minimum wages for fast-food workers in the state will increase to $20 an hour in April 2024 under a new law signed by Governor Gavin Newsom. California's current minimum wage is $15.50 and it's set to rise to $16 in January – more than double the federal minimum wage of $7.25. Chipotle execs said during the company's earnings call on Thursday that it had recently raised menu prices by 3%. Chief Financial and Administrative Officer Jack Hartung told investors that this month's hike "does not consider any part of the California wages that'll happen next year."

Persons: Chipotle, hasn't, —, Gavin Newsom, Chipotle execs, Jack Hartung, Hartung, Erin Wolford, Newsom Organizations: Service, Consumer Locations: California, Chipotle

☆ Chipotle says it will raise menu prices because of new California minimum wage
▼ + stars: | 2023-10-26 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

“We are definitely going to pass this on.”A company spokesperson later told CNN that Chipotle hadn’t yet decided whether it will raise prices in California. Gavin Newsom in September signed legislation that raises the minimum wage to $20 an hour for fast food workers, and creates a council that can approve further increases in the future. The state’s current minimum wage is $15.50 an hour and will increase to $16 an hour on January 1. The new hourly wage for fast food workers will take effect on April 1 of next year. But workers have said that the higher minimum wage will make a meaningful difference in their lives.

Persons: New York CNN —, ”, John Hartung, we’ve, Gavin Newsom, Chipotle, Anneisha Williams, Jack, Williams Organizations: New, New York CNN, CNN, California ., California . California Gov, Employees Locations: New York, California, ”, California . California

We'll show you how to watch Thursday Night Football for free in this guide. How to watch Thursday Night Football free from anywhereThursday Night Football streams exclusively on Amazon Prime Video in the United States. How to watch Thursday Night Football for freeTwitch is usually freely accessible for everyone, but if you live outside the US, you may encounter restrictions watching Thursday Night Football on the Prime Video channel. Watch Eagles vs. Vikings on Thursday Night Football. Here's a list of all upcoming Thursday Night Football games for the 2023 NFL season.

Persons: NFL quarterbacking, Jalen, Al Michaels, Kirk Herbstreit, Kaylee Hartung, Charissa Thompson, Tony Gonzalez, Ryan Fitzpatrick, Richard Sherman, ExpressVPN Organizations: NFL, Eagles, Vikings, Philadelphia Eagles, Patriots, Minnesota Vikings, Buccaneers, Amazon, Fox, Amazon Prime, Insiders, Prime, Netflix, Watch Eagles, Giants, 49ers, Lions, Packers, Broncos, Chiefs, Jaguars, Saints, Bills, Titans, Steelers, Panthers, Bears, Bengals, Ravens, Football, Dolphins, Jets, Seahawks, Cowboys, Chargers, Raiders, Rams, Browns Locations: United States

"Chinese manufacturers will adapt vehicles to the European market step by step through user experience and customer orientation," Bosch (ROBG.UL) CEO Stefan Hartung told Reuters at Munich's IAA mobility show. Bosch's Chinese partnerships include developing Advanced Driver Assistance Systems (ADAS) for most of Chinese EV maker BYD's (002594.SZ) cars, electric motors for luxury EV maker Human Horizons and is a supplier for Nio (9866.HK). Chinese EV makers including BYD, Nio, Xpeng (9868.HK) and Leapmotor (9863.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. "When we talk to our Chinese customers, there are very concrete plans to build plants in Europe," ZF CEO Holger Klein told Reuters. Continental CEO Nikolai Setzer told Reuters the supplier expects "the Chinese to go global and build plants in Europe."

Persons: Leonhard Simon, Bosch, Stefan Hartung, Hartung, Holger Klein, Nikolai Setzer, Setzer, Nick Carey, Victoria Waldersee, Christina Amann, Zoey Zhang, David Evans Organizations: REUTERS, Rights, Reuters, BYD's, Human, HK, Europe's EV, Jato Dynamics, Friedrichshafen, ZF, Continental, Thomson Locations: Munich, Germany, China, Europe

☆ Amazon's 'Thursday Night Football' is winning over advertisers after a bumpy launch year, and a top exec says it will be 'aggressive' in pursuing more live sports
▼ + stars: | 2023-08-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

The tech giant is gearing up for a big 'Thursday Night Football' season with key matchups and new ad offerings. After hitting some snags with its inaugural NFL "Thursday Night Football" season on Prime Video last year, Amazon is bringing plenty of swagger to the field this year. Amazon is getting more TV ad dollars this year as the twin Hollywood strikes rage on, a top exec said. Amazon last year had also softened on its initial ask that advertisers buy the entire season's games and gave them the option to buy a portion of the games. Some advertisers were forgiving, though, given it was Amazon's first go at a live sports broadcast.

Persons: It's, Jay, Amazon's, We're, Al Michaels, Kaylee Hartung, NFL's, haven't, Kelly Metz, Marine, We'll, we'll Organizations: NFL, Football, Minnesota Vikings, Philadelphia Eagles, Toyota, Fox, ESPN, Amazon, Marine, Omnicom Media

☆ 3 trends are dividing restaurant companies into winners and losers
▼ + stars: | 2023-08-18 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

In this article CMGMCDWENPZZA Follow your favorite stocks CREATE FREE ACCOUNTA McDonald's restaurant near Times Square, NYC on July 29th, 2023. Adam Jeffery | CNBCRestaurant companies navigating some of the same challenges in the second quarter fell into two categories: winners and losers. While most restaurant companies crushed earnings expectations, a number of them fell short of Wall Street's estimates for their quarterly revenue. McDonald's and Wingstop both reported second-quarter earnings, revenue and same-store sales growth that topped analysts' expectations, a rarity this quarter for restaurant companies. One fast-casual chain has struggled with consumers' value perception.

Persons: Adam Jeffery, hasn't, Papa John's, TD Cowen, Andrew Charles, Burger, Wendy's, Jeffrey Bernstein, bode, Chris Kempczinski, Todd Penegor, Wingstop, Michael Skipworth, Chipotle, Jack Hartung, Noodles Organizations: CNBC Restaurant, Promotions, Investors, CNBC, Restaurant Brands, Barclays, Company Locations: NYC, Chipotle, Texas

☆ Chipotle says customers can't get enough of its Chicken al Pastor – and it means it's having to spend less on pricier beef
▼ + stars: | 2023-07-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Chipotle says its limited-edition Chicken al Pastor is boosting sales and attracting new customers. Chicken al Pastor was added to its menus in March, and according to CEO Brian Niccol, one in five customer orders at the chain now include the protein. "We've got a benefit because Chicken al Pastor has really shifted some of our customers from the more expensive beef into the less expensive chicken," CFO Jack Hartung said in an earnings call on Wednesday. Chicken al Pastor isn't just cheaper for Chipotle to make, it's also helping to attract new customers, the company said. Plus, it was a fairly straightforward dish to launch because it's made using Chipotle's existing adobo chicken, which is then mixed in an al pastor marinade.

Persons: Chipotle, al, –, al Pastor, Brian Niccol, We've, Jack Hartung, Price, isn't, it's, marinade, morita, Niccol Organizations: Service, Bureau for Labor Statistics Locations: Wall, Silicon, Canada, Germany, France

☆ Chipotle is becoming a huge hit in small towns, and it's hurting chains like Chick-fil-A, McDonald's, and Texas Roadhouse
▼ + stars: | 2023-07-19 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

Now, it's expanding to small towns and hurting chains like Chick-fil-A, according to Placer.ai. Popular steak house chain Texas Roadhouse, which is 1.6 miles from the new Chipotle, saw year-over-year traffic slide by 5.27% in April and by 3.92% in May 2023. A Chick-fil-A less than a mile from Chipotle, saw foot traffic decrease four out of five weeks in May, Placer.ai reports. "I don't see how Chipotle's brand can transfer to small towns." Chipotle isn't betting all of its growth on small towns.

Persons: Chipotle, Placer.ai, Jack Hartung, Tim Powell, Zers, Powell Organizations: Service, Wall Street, Placer.ai, Texas, X Locations: Wall, Silicon, Chipotle, America, Texas, San Angelo , Texas, The Texas, McDonald's, Covington , Louisiana, Camden , Delaware, Washington, Canada, France, Germany

☆ Bosch ups investment in hydrogen, begins fuel-cell power module production
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

The planned investment was one billion euros more than earmarked in its previous investment plan for 2021-2024, the statement added. Bosch expects one in five new trucks weighing six metric tons or more would feature fuel-cell powertrains by 2030, it said. Bosch said production of its fuel cell power module - a fuel cell system generating electricity in vehicles from hydrogen, primarily used in commercial long-distance applications - has begun in its Stuttgart-Feuerbach plant in Germany and in Chongqing, China. Daimler Truck (DTGGe.DE) plans to bring a hydrogen truck to market in the second half of the decade, forming a joint venture with Volvo (VOLVb.ST) to develop the zero-emissions technology. Automaker Stellantis said this year it would begin deliveries in Europe of its first medium-sized vans powered by hydrogen fuel cells by the end of 2021.

Persons: Bosch, Stefan Hartung, Feuerbach, Stellantis, Victoria Waldersee, Ilona Wissenbach, Emelia Sithole Organizations: Bosch, Nikola Corporation, Daimler, Volvo, Volkswagen, Thomson Locations: BERLIN, Stuttgart, Germany, Chongqing, China, American, Europe

☆ Bosch looks to growth in cars, heating systems
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: 1 min

Companies Robert Bosch GmbH FollowFRANKFURT, May 4 (Reuters) - German technology group Robert Bosch expects 6% to 9% revenue growth this year from 88.2 billion euros ($97.49 billion) in 2022 and an EBIT margin of 5%, up from 4.3% last year, it said on Thursday thanks to growth in both its cars and heating systems businesses. The transformation of energy systems to protect the climate creates business potential, Bosch Chief Executive Stefan Hartung said, making clear that opportunities lay in both the electrification of cars and heating systems. "Growth is not only on the road, even though we are very successful there," he said. ($1 = 0.9047 euros)Reporting by Ilona Wissenbach Writing by Madeline Chambers Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen, Bosch give up joint venture plans for battery cells
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' DelgadoMay 4 (Reuters) - Volkswagen (VOWG_p.DE) and Bosch (ROBG.UL) have cancelled their plans to create a joint venture to equip battery cell factories, Bosch said on Thursday. "We are not setting up a joint venture," Bosch Chief Executive Officer Stefan Hartung said, adding that the partnership with the German carmaker to digitise its battery factories would continue. The joint venture, announced at the beginning of 2022, was designed to deliver battery production systems, as well as assisting battery cell manufacturers in scaling up and maintaining their production sites. "Volkswagen and PowerCo are sticking to their plan to get involved in equipping battery cell factories in the future.

☆ Why Prices, Inflation Are Still Soaring: Corporate Price Gouging
▼ + stars: | 2023-05-02 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

While many of the problems that helped trigger the upward spiral have abated, prices are still high and getting higher. The idea that companies are taking advantage of disruptions to push price increases on consumers has many names — greedflation, excuseflation, price gouging, corporate profiteering — but the gist is the same. Supply-chain issues and other disruptions made sense as drivers of higher prices, Chris Becker, a senior economist and the associate director of policy and research at the Groundwork Collaborative, told me. "Working people are suffering thanks to corporate greed, so we need to enact tougher rules to ensure corporations pay a price when they price gouge." Working people are suffering thanks to corporate greed, so we need to enact tougher rules to ensure corporations pay a price when they price gouge.

April 25 (Reuters) - Chipotle Mexican Grill Inc (CMG.N) topped Wall Street expectations for first-quarter profits and sales on Tuesday, helped by higher menu prices, 41 new restaurant openings and some recovery among lower-income customers. The company said it expects second quarter and full year comparable sales growth in the mid-to-high single digits. Even with inflation squeezing household budgets, restaurant chains are expected to post higher sales growth in the first quarter. Comparable sales at California-based Chipotle jumped about 11% in the first quarter, while analysts on average expected an 8.6% rise, according to Refinitiv data. Inflation in the second half is "really a wild card," Chief Financial Officer Jack Hartung said on the earnings call.

☆ The future of the U.S. military's tank force
▼ + stars: | 2023-03-25 | by ( Brad Howard | ) www.cnbc.com time to read: +2 min

"The Russian tanks didn't fare well," said William D. Hartung, senior research fellow at the Quincy Institute. "They were taken out pretty quickly by modern anti-tank systems. And I think that would be a problem also for U.S. tanks in a future conflict." "It's pretty obvious from that, that the tank is still an important part of the battlefield." Watch the video above to find out more about tanks and what military experts view as their potential relevance in future battles

☆ U.S. weapons sales to get stricter human rights review under Biden
▼ + stars: | 2023-02-23 | by ( Patricia Zengerle | ) www.reuters.com time to read: +4 min

"We are looking at a policy of prevention when there is a risk of violation of human rights," one official said. Biden's administration was criticized last year for approving the potential sale of radars and aircraft to Egypt despite what Human Rights Watch called Egypt's "atrocious human rights record." Reuters reported in 2021 that the Biden administration was considering a CAT policy shift to emphasize human rights. For example, Senator Bob Menendez, Democratic chairman of the Senate Foreign Relations Committee, opposes the sale of Lockheed Martin F-16 aircraft to Turkey for reasons including disregard for human rights. He rolled out a CAT policy in 2018 that gave commercial concerns as much weight as human rights in deciding whether to approve weapons sales.

☆ Stocks making the biggest moves premarket: Uber, Chipotle, Microsoft, Lumen and more
▼ + stars: | 2023-02-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Uber — The ride-hailing app's shares rose more than 7% after it posted fourth-quarter earnings that topped analyst estimates. Uber earned 29 cents a share, beating analysts' estimate of an 18 cent loss, Refinitiv data showed. This year's adjusted earnings guidance missed StreetAccount estimates. Fortinet — The cybersecurity company's shares rose 11% after it beat analysts' estimates in the most recent quarter by five cents a share, according to StreetAccount. Under Armour earned adjusted EPS of 16 cents vs a StreetAccount estimate of 9 cents.

Feb 7 (Reuters) - Chipotle Mexican Grill Inc (CMG.N) missed quarterly comparable sales and profit expectations on Tuesday, as customers pulled back on expensive delivery orders and traffic stalled in December. Comparable sales at California-based Chipotle rose 5.6% in the fourth quarter ended Dec. 31, while analysts on average expected a 7.1% rise, according to Refinitiv IBES. Visits to Chipotle restaurants fell 10.2% in the fourth quarter, according to data from Placer.ai. Delivery transactions also tumbled 15% as in-store orders surged, and Chipotle restaurants "didn't see that pop" that they normally get in December around the holidays, Chief Financial Officer Jack Hartung said on the call. We think inflation will be reasonably tame," Hartung said, adding that the company had not yet decided whether to raise menu prices further in 2023.

☆ Chipotle customers are finally balking at higher delivery prices
▼ + stars: | 2023-02-07 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

In 2021, Chipotle reached $3.4 billion in digital sales. Delivery orders for the latest quarter decreased by 15% amid delivery prices hikes made last year. Chains like Chipotle often mark up menu prices for delivery orders to offset fees paid to third-party delivery operators like DoorDash. In the third quarter of 2022, delivery prices at Chipotle increased 13% compared to the same period in 2021, the company previously told Insider. The same meal costs $11.50 for delivery plus a $1 delivery fee and $3.37 in taxes and service fees.

☆ The green transition is bringing lots of different opportunities, Bosch CEO says
▼ + stars: | 2023-02-06 | 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 EmailThe green transition is bringing lots of different opportunities, Bosch CEO saysStefan Hartung, CEO of Bosch, joins CNBC to discuss the earnings from the home appliances giant.

☆ Bosch says Chinese recovery is key to 2023
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

BERLIN/STUTTGART, Feb 3 (Reuters) - German automotive supplier Bosch considers recovery in China as key to success this year, it said on Friday, steering clear of concrete forecasts despite reporting a more than 15% jump in full-year operating profit. It was hugely dampened last year," Chief Executive Stefan Hartung said of the Chinese market, adding that he expects the European and U.S. economies to weaken because of rising interest rates. Demand in 2022 remained weaker than before the pandemic, but Bosch sales benefited from strong demand for climate-friendly technology from carmakers and those seeking alternative fuel sources to Russian gas, the private company said. "Despite semiconductor shortages and a weak economy, all business sectors were able to increase their sales," said finance chief Markus Forschner. Pushed by Germany's attempt to wean itself off Russian gas, demand for energy efficient heat pumps rose last year, with sales jumping 50%, Bosch said, adding that it will expand its manufacturing capacity for heat pumps in Europe.

☆ Bosch to invest a billion dollars on EV parts centre in Suzhou, China
▼ + stars: | 2023-01-13 | by ( Diksha Madhok | ) edition.cnn.com time to read: +1 min

New Delhi CNN —Bosch, the German engineering and technology company, is planning to invest $1 billion to make components for new energy vehicles in China, the world’s largest car market. The company plans to build a research, development and manufacturing facility for parts for new energy vehicles and automated-driving technology in Suzhou, a city in the country’s east, Bosch said in a statement on Thursday. It plans to invest around $1 billion in the project over the next years, the statement added. “China is the world’s largest auto market, full of promise and vitality. Bosch has had a presence in China since 1909 and employs around 55,000 people in the country.

☆ CFOs Ponder Their Pricing Power as the Economy Cools
▼ + stars: | 2023-01-09 | by ( Jennifer Williams-Alvarez | Dean Seal | ) www.wsj.com time to read: +7 min

After a year of significant price increases, companies are trying to figure out how far they can go in 2023. However, pricing experts said, consumers and businesses will likely pull back on discretionary spending and will be less tolerant of price increases as they become mindful of their budgets. The Katy, Texas-based retailer takes an item-by-item approach to price increases. Customers haven’t balked at higher price tags, Ms. Huber said in late October. Still, the company said the aggressive price hikes in 2022 haven’t yet had a significant impact on consumers’ behavior.

☆ NFL player J.J. Watt blasts Chipotle on Twitter: 'We want big burritos back'
▼ + stars: | 2022-12-13 | by ( Mary Meisenzahl | ) www.businessinsider.com time to read: +3 min

Arizona Cardinals player J.J. Watt called out Chipotle for shrinking burrito sizes on Twitter. Some customers have been complaining about Chipotle's portion sizes for years. Pro-bowler and Arizona Cardinals defensive end J.J. Watt tweeted Sunday "Burritos have been getting smaller…," writing that he wanted to "open dialogue" with Chipotle. "We want big burritos back," he wrote, adding hashtags including "Burrito justice," "Still hungry," and "This is supposedly double meat." If its portion sizes are getting smaller, Chipotle wouldn't be the only retailer to do so.

☆ McDonald's opens US's first small-format location that's optimized for delivery and mobile orders
▼ + stars: | 2022-12-02 | by ( Mary Meisenzahl | ) www.businessinsider.com time to read: +3 min

It includes an order-ahead lane where customers can drive up and retrieve mobile orders from a conveyer belt. Drive-thru and mobile orders are both critical to McDonald's business: About 25% of US sales are digital through the app, kiosk, or delivery orders, McDonald's says, and 70% of orders go through the drive-thru. Chipotle just opened its 500th Chipotlane, which operates like the order-ahead line in the McDonald's test store. Taco Bell has also opened Go Mobile restaurant formats with drive-thru lanes dedicated to mobile orders. McDonald's test is limited for now to the one location in the Fort Worth suburb called White Settlement.

☆ Cisco to open new chip design center in Barcelona, Spain says
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

Bosch CEO sees inflation weighing on margins but could ease chip shortage, article with imageTechnology · November 10, 2022 · 7:22 AM UTCGerman auto supplier Bosch (ROBG.UL) sees a possible easing of the global chip shortage in the second half of 2023 if demand dips under the weight of inflation, CEO Stefan Hartung said on Wednesday.

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