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Elliott Management has taken a significant stake in coffee chain Starbucks and is engaging with management to find ways to improve the company's share price, the Wall Street Journal reported Friday, citing people familiar with the matter. The firm did not hold a Starbucks stake as of March 31, its most recent disclosure. In April, the company reported disappointing quarterly results, with U.S. same-store sales falling 3% and traffic dropping 7%. Starbucks reported rates of incomplete mobile app orders in the mid-teens and said occasional customers came in less often. Narasimhan was hand-picked by returnee Starbucks CEO Howard Schultz to lead the company after his prior successor, Kevin Johnson, stepped down.

Persons: Elliott, Johnson, Laxman Narasimhan, Narasimhan, Howard Schultz, Kevin Johnson, Schultz, — CNBC's Amelia Lucas Organizations: Elliott Management, Wall Street, Starbucks, Southwest, Johnson Controls, Texas Instruments, Strategic, Center, U.S Locations: SoftBank

☆ Activist Elliott reportedly takes sizable stake in Starbucks
▼ + stars: | 2024-07-19 | 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 EmailActivist Elliott reportedly takes sizable stake in StarbucksCNBC's Kate Rogers joins 'Power Lunch' to discuss reports of activist Elliott taking a stake in Starbucks.

Persons: Elliott, Kate Rogers

☆ Reimagining downtown San Francisco by bringing workers back to the office
▼ + stars: | 2024-07-16 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReimagining downtown San Francisco by bringing workers back to the officeCNBC's Kate Rogers joins 'Squawk Box' with a first look at San Francisco Mayoral Candidate Mark Farrell's plans to revitalize the city's downtown district, which includes a proposal to provide tax incentives to companies that relocate downtown and have workers in office four days a week.

Persons: Kate Rogers, Mark Farrell's Organizations: San Francisco Locations: San Francisco

☆ GlobalFoundries races to find semiconductor talent as demand for chips soars
▼ + stars: | 2024-07-05 | by ( Kate Rogers | ) www.cnbc.com time to read: +5 min

The U.S. chips industry is expected face a shortage of 67,000 technicians, computer scientists and engineers by 2030, while the broader U.S. economy is set to have a gap of 1.4 million such workers, according to a 2023 study from the Semiconductor Industry Association. A wafer sorter inside the GlobalFoundries semiconductor manufacturing facility in Malta, New York, on June 18, 2024. The company creates chips for everyday products from electronics and phones to autos, in addition to components for space and defense. The GlobalFoundries semiconductor manufacturing facility in Malta, New York, on June 18, 2024. Morgan Woods, 28, started out in Malta, New York, at GlobalFoundries' fab facility as a technician in 2021.

Persons: Cindy Schultz, Lockheed Martin, Pradheepa Raman, Raman, Morgan Woods, Woods, GlobalFoundries Organizations: Semiconductor Industry Association, Deloitte, Bloomberg, Getty, General Motors, Lockheed, CNBC, Workers, GM, U.S Locations: U.S, Malta , New York, New York, Vermont

☆ Semiconductor sector sees a worker shortage
▼ + stars: | 2024-07-05 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSemiconductor sector sees a worker shortageCNBC's Kate Rogers reports on the need for talent in the tech sector.

Persons: Kate Rogers Organizations: Email Semiconductor

☆ Inside Starbucks' plans to improve stores for customers and baristas
▼ + stars: | 2024-07-01 | by ( Kate Rogers | ) www.cnbc.com time to read: +5 min

At the heart of the plan is Starbucks' "Siren Craft System," a series of processes that aim to make baristas' jobs easier and speed up service times for customers. Starbucks said more than 10% of its 10,000 stores have already implemented the system, which includes changing the production order for hot and cold drinks. Starbucks reported rates of incomplete mobile app orders in the mid-teens and said occasional customers came in less. Losing customers because of slow orders and other store frustrations could cost Starbucks at a particularly vulnerable time. The company plans to train existing workers for the role or potentially add new baristas, if needed.

Persons: Beata Zawrzel, Laxman Narasimhan, Katie Young, Peter Saleh, Young, Howard Schultz, Narasimhan, Schultz, Macoy McGlaughlin, Walker, we're, McGlaughlin, Baristas Organizations: Starbucks, Nurphoto, Getty, CNBC, Workers Locations: Krakow, Poland, North America

☆ Inside Starbucks' plans to improve stores
▼ + stars: | 2024-07-01 | 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 EmailInside Starbucks' plans to improve storesCNBC's Kate Rogers with an exclusive look at changes being implemented in Starbucks stores to improve the experience for baristas and customers as the company's app opens up to non-Rewards members in a bid to increase traffic.

Persons: Kate Rogers

☆ McDonald's to end AI drive-through test with IBM
▼ + stars: | 2024-06-17 | by ( Kate Rogers | ) www.cnbc.com time to read: +4 min

The drive-through menu at a McDonald's restaurant showing various meal options and promotions, in Buttonwillow in Kern County, California, on 23, 2024. The fast-food giant will end a test run of its AI drive-through technology partnership with IBM in more than 100 restaurants. In a statement, McDonald's told CNBC it is not ruling out potential AI drive-through plans in the future, even though it ended the IBM partnership. In statement, IBM said it will work with McDonald's on "a variety of other projects" as the test ends. While McDonald's AI plans for the future are unclear, all eyes will be on Alphabet 's Google.

Persons: Mason Smoot, McDonald's, Sundar Pichai, Peter Saleh, Saleh Organizations: IBM, CNBC, McDonald's, Yum Brands, Mastercard, Google Locations: Buttonwillow, Kern County , California, Del Taco, Barcelona

☆ Restaurants bulk up on protein offerings: Here's what to know
▼ + stars: | 2024-06-17 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRestaurants bulk up on protein offerings: Here's what to knowConsumers may be spending at restaurants more cautiously, but there's been a bright spot for some companies with specialty protein offerings. CNBC's Kate Rogers joins 'Squawk on the Street' with more.

Persons: there's, CNBC's Kate Rogers

☆ The Covid-19 pandemic worsened a child care crisis, and it's costing U.S. businesses billions
▼ + stars: | 2024-06-08 | by ( Kate Rogers | ) www.cnbc.com time to read: +3 min

Policy advocates argue that child care, including for infants and toddlers, is an economic issue that affects all Americans, not just those with young kids. That is up from $57 billion in 2018, before the pandemic exposed and exacerbated holes in the system for working families and the companies that rely on them. Part of the nationwide solution is supporting what the group calls the "workforce behind the workforce" — early child care providers. "Supporting the early childhood workforce could include such things as making sure child care providers have access to benefits. "Programs that support additional training and education for child care providers are important as well."

Persons: Nancy Fishman, Fishman Organizations: Bureau of Labor Statistics, Bank of America, American, ReadyNation, CNBC

☆ McDonald’s President speaks out on inflation and pricing
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMcDonald’s President speaks out on inflation and pricingCNBC’s Kate Rogers on McDonald’s U.S. President Joe Erlinger’s open letter regarding inflation and the burger chain’s price increases over the years.

Persons: Kate Rogers, Joe Erlinger’s Organizations: McDonald’s U.S

☆ Starbucks resumes contract talks with employee union
▼ + stars: | 2024-05-28 | 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 EmailStarbucks resumes contract talks with employee unionCNBC’s Kate Rogers joins 'The Exchange' to share details on Starbucks' challenges and how they will factor into negotiations taking place between the company and Workers United this week.

Persons: Kate Rogers Organizations: Workers

☆ Starbucks is set to resume union negotiations as it confronts issues at its stores
▼ + stars: | 2024-05-28 | by ( Kate Rogers | ) www.cnbc.com time to read: +7 min

Spencer Platt | Getty ImagesWhen Starbucks and its baristas union resume contract bargaining this week, workers may have renewed momentum at their backs — courtesy of the company's own CEO. Narasimhan, in prepared remarks to Wall Street analysts, cited some of the challenges that union workers have been highlighting in their bid for better working conditions. For Workers United, the union behind the Starbucks organizing, his admission that more could be done was promising. Starbucks and the union are meeting to continue working on the framework that will inform every single-store contract moving ahead. There has been another call for change at Starbucks stores that may carry weight at the negotiating table.

Persons: Spencer Platt, Laxman Narasimhan, we're, Narasimhan, CNBC's, Kevin Johnson, baristas, Michelle Eisen, Eisen, we've, Howard Schultz, Schultz, Howard Organizations: Getty, Starbucks, Wall Street, U.S, Workers United, Staffing, CNBC Locations: New, Buffalo , New York, Buffalo

☆ McDonald's franchisee group says $5 value meal can't last without company investment
▼ + stars: | 2024-05-21 | by ( Kate Rogers | ) www.cnbc.com time to read: +3 min

"The fact remains that in order to provide the consumer with more affordable options, they must be affordable for the owner/operators. McDonald's vast resources and financial investment are essential to any sustainable affordable strategy," the board of the National Owners Association wrote in a letter to membership. McDonald's declined to comment on the NOA letter to its membership. In a statement to CNBC last week on the value meal the company said, "We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising. These ideas were initially floated by the advocacy group earlier in the year, as it pushed to add affordable options to the menu without discounting "core and iconic" items.

Persons: McDonald's, That's, NOA, Chris Kempczinski Organizations: National Owners Association, CNBC Locations: Oakland , California

☆ McDonald's $5 value meal is coming in June — and staying for just a month
▼ + stars: | 2024-05-15 | by ( Kate Rogers | ) www.cnbc.com time to read: +2 min

McDonald's is set to offer a $5 value meal in the U.S., but only for a limited time. "We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising. That's been true since our very beginning and never more important than it is today," McDonald's said in a statement to CNBC. CNBC last week reported the fast-food giant was working to bring a value offering to menus, with details being discussed and voted on by franchisees. McDonald's recently reported a mixed first quarter, with U.S. same-store sales slightly missing expectations.

Persons: That's, McDonald's, Chris Kempczinski, John Palmaccio, — CNBC's Amelia Lucas Organizations: CNBC, U.S, National Advertising Fund Locations: U.S

☆ San Francisco mayoral candidate Daniel Lurie on homelessness plan
▼ + stars: | 2024-05-15 | 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 EmailSan Francisco mayoral candidate Daniel Lurie on homelessness planCNBC's Kate Rogers sits down with San Francisco mayoral candidate Daniel Lurie as he lays out his plan to tackle homelessness in the city if elected.

Persons: Daniel Lurie, Kate Rogers Organizations: San Francisco

☆ Consumers exhibit restraint in restaurant spending
▼ + stars: | 2024-05-10 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers exhibit restraint in restaurant spendingCNBC's Kate Rogers reports on consumer sentiment from the restaurant industry's chief executives.

Persons: Kate Rogers

☆ McDonald’s is working to introduce a $5 value meal
▼ + stars: | 2024-05-10 | by ( Kate Rogers | ) www.cnbc.com time to read: +2 min

McDonald's is working to introduce a value meal in U.S. stores to help offset an increasingly challenging environment for consumers, two people familiar with the matter told CNBC. The value meal was first reported by Bloomberg News. The potential new offering comes at a time when low-income consumers are beginning to pull back on spending, particularly at fast-food brands. Mentions of low-income consumers on company earnings calls are at their highest levels in nearly two years, according to data from Bank of America. An initial proposal by McDonald's for the $5 value meal did not clear necessary hurdles, and additional details are now being discussed, according to a person familiar with the process.

Persons: McDonald's, Dave, Buster's, Chris Kempczinski, Kempczinski, Ian Borden, — CNBC's Amelia Lucas Organizations: CNBC, Bloomberg News, Bank of America, McDonald's, U.S Locations: U.S

☆ Chicken is a hit among fast food consumers
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChicken is a hit among fast food consumersCNBC's Kate Rogers joins 'Power Lunch' to discuss the increase of sales at food chains of chicken.

Persons: Kate Rogers

☆ Immigrant workers are helping boost the U.S. labor market
▼ + stars: | 2024-05-03 | by ( Kate Rogers | ) www.cnbc.com time to read: +1 min

The strong jobs market has been bolstered post-pandemic by strength in the immigrant workforce in America. And as Americans age out of the labor force and birth rates remain low, economists and the Federal Reserve are touting the importance of immigrant workers for overall future economic growth. Immigrant workers made up 18.6% of the workforce last year, a new record, according to Bureau of Labor Statistics data. Despite the U.S. adding fewer-than-expected jobs in April, the labor force participation rate for foreign-born workers ticked up slightly, to 66%. "We don't have enough workers participating in the labor force and our birth rate has dropped down 2% last year from 2022 to 2023.

Persons: Jennie Murray, Phillip Swagel, Swagel Organizations: Federal, of Labor Statistics, Workers, National Immigration, Congressional Locations: America

☆ Help Wanted: Immigrants fueling U.S. workforce
▼ + stars: | 2024-05-03 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHelp Wanted: Immigrants fueling U.S. workforceCNBC’s Kate Rogers on the boost immigrant workers have given to the U.S. economy over the last several years.

Persons: Kate Rogers Locations: U.S

☆ Gold Medal Mentality: Applying an Olympic Mindset to Small Business
▼ + stars: | 2024-05-02 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold Medal Mentality: Applying an Olympic Mindset to Small Business with Gymnast Leanne WongResiliency, focus, and discipline are defining traits of not only elite-level athletes, but many small business owners, as well. 2x world champion gymnast Leanne Wong shares how she applies that same mindset to her side hustle as an entrepreneur and discuss how she's running and growing her business while competing for a spot on this summer's 2024 Olympic team.

Persons: Leanne Wong Resiliency, Leanne Wong Organizations: Business

☆ State of Small Business: Challenges & Opportunities in Today's Economy
▼ + stars: | 2024-05-02 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailState of Small Business: Challenges and Opportunities in Today's EconomyWith optimism currently at its lowest level in over a decade, inflation continues to pose major challenges for small business owners across America. The head of the Small Business Administration discusses assistance programs and resources available to help owners weather these economic headwinds and share stories of entrepreneurs she's met all over the country.

Persons: she's Organizations: State, Small, Small Business Administration Locations: America

☆ 24% of business owners believe inflation has peaked, CNBC small business survey finds
▼ + stars: | 2024-05-02 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email24% of business owners believe inflation has peaked, CNBC small business survey findsCNBC’s Kate Rogers joins 'Power Lunch' to discuss the latest result from CNBC/SurveyMonkey Small Business Survey.

Persons: Kate Rogers Organizations: CNBC, Survey

☆ Corporate earnings solid so far, despite threats from a slowing economy and sticky inflation
▼ + stars: | 2024-04-29 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Valuations coming down So if earnings are up, why is the S & P off its highs? Today, a month later, 2024 earnings estimates are essentially the same but the multiple has declined to 20.8. The S & P 500 hit a low of 4,117 on Oct. 27 and only recovered when rates came down in early November. There are some big drags on earnings Some companies are seeing large declines in earnings estimates that are weighing on their sectors. When including this one-time item, the S & P 500 earnings growth rate for the first quarter declines to 5.6%, from 8.7%, LSEG has noted.

Persons: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Christopher Suh, Stephen Squeri, Hess, Nick Raich, LSEG, Hal Lawton, Brian Niccol, CNBC's Kate Rogers, Horton, Paul Romanowski, Kimberly, Clark, Michael Hsu Organizations: Companies, Netflix, JPMorgan, GE Aerospace, Caterpillar, Microsoft, Merck, Ford, Waste Management, Royal, Consumer, American Express, Energy, Marathon Petroleum, Apache, Valero Energy, Oil, Occidental Petroleum, Devon Energy, ConocoPhillips, Exxon Mobil, Scout, Bristol Myers Squibb, Karuna Therapeutics, Boeing, Nvidia, Meta, AMD Locations: financials, industrials, Royal Caribbean, North America

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