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☆ UK, U.S. inflation prints in focus as European markets head for higher open
▼ + stars: | 2024-08-14 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are expected to open higher Wednesday as investors in the region await key inflation prints from the U.S. and U.K. U.K. inflation data out on Wednesday will be the first print since the Bank of England cut interest rates by 25 basis points last month. After two months at 2%, economists polled by Reuters expect the headline inflation rate to tick higher, to 2.3%. Money markets are currently pricing in a high probability of more interest rate cuts by the BoE, amounting to 50 basis points this year. The central bank's key rate currently sits at 5%.

Persons: Germany's DAX, BoE Organizations: New Oxford, LONDON, CAC, IG, Bank of England, Reuters Locations: London, U.S

☆ 'Pulling a Joe Biden': Reactions to Japanese Prime Minister Fumio Kishida's resignation
▼ + stars: | 2024-08-14 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Japan's Prime Minister Fumio Kishida speaks to reporters following North Korea's missile launch on April 13, 2023. JIJI Press | AFP | Getty ImagesJapanese Prime Minister Fumio Kishida is stepping down in September, a move that sparked a broad range of reactions from government officials and analysts. Still, Izumi thanked Kishida for his hard work, adding "Prime Minister Kishida, you must have been under a lot of pressure." "The prime minister is a true friend of the United States and Japan has become a true global partner for America," U.S. "I pay tribute to my friend Prime Minister Fumio Kishida.

Persons: Fumio Kishida, Japan's, Kishida, Joe Biden, he's, William Pesek, Biden, Izumi, Japan Rahm Emanuel, Kishida's, Emanuel, Anthony Albanese, Japan Shihab Alfaheem, Amir Anvarzadeh Organizations: Japan's, JIJI Press, AFP, Getty, Liberal Democratic Party, Constitutional Democratic Party of Japan, LDP, Japan, America, U.S, Alliance, Australian, Asymmetric Advisors Locations: United States, Japan, Australia

Police in Ferguson, Missouri, on Tuesday released body camera and security videos of a man shown charging at a police officer and knocking him to the pavement, where he hit his head and was critically injured. Officer Brown suffered a severe head injury after he was knocked to the ground, police said. A still from security video shows a protester charging toward Officer Travis Brown in Ferguson, Mo. At an earlier news conference after the officer was injured, Doyle said the community has treated Ferguson police as a “punching bag” since 2014. Doyle said Travis Brown is the type of officer Ferguson needs.

Persons: Michael Brown, Troy Doyle, Elijah Gantt, Travis Brown, Brown, Gantt, Mo, Darren Wilson, ” Doyle, Doyle, Ferguson, Michael Brown’s, “, ” Gantt, Wesley Bell, Bell Organizations: Police, Ferguson MO, Department, YouTube Protesters Locations: Ferguson , Missouri, East St, Louis , Illinois, Ferguson, Louis

☆ Murdoch family battle highlights Nevada's secret trust boom
▼ + stars: | 2024-08-13 | by ( Robert Frank | ) www.nbcnews.com time to read: +6 min

The Murdoch family feud taking place in an obscure Nevada court highlights the state’s surging popularity as a global center of family trusts and a friendly home to the world’s biggest fortunes. The Western state’s fast-growing industry of trust and estate attorneys, trust companies and facilitators keeps a deliberately low profile. At the center of the Murdoch case is the Murdoch Family Trust, which holds the powerful voting shares in News Corp. and Fox Corp. that effectively control the companies. (The trust also contains the family farm in Australia, the Murdoch art collection and its Disney shares.) “Normally a family would have some ties in Nevada to establish trust, either living here or having real estate,” Tyrell said.

Persons: Murdoch, ”, Steven Oshins, ” Oshins, Thomas Piketty, Emmanuel Saez, Gabriel Zucman, Rupert Murdoch, Lachlan, James, Elisabeth, Prudence, it’s, Rupert, Elyse Tyrell, Tyrell Law PLLC, Rupert Murdoch —, It’s, ” Tyrell, “ Organizations: IRS, Division, Trust, News Corp, Fox Corp, Disney, The New York Times, Street Journal, Fox, Henderson , Nevada . Trust Locations: Nevada, “ Nevada, South Dakota, Tennessee , Delaware, U.S, Australia, Henderson , Nevada

☆ Russian artist released in swap builds a new life in Germany, now free to marry her partner
▼ + stars: | 2024-08-13 | by ( The Associated Press | ) www.nbcnews.com time to read: +8 min

That wasn’t an option in their native Russia, but it’s possible now that they live in Germany, which recognizes same-sex weddings. Subbotina campaigned for her partner’s release while also trying to make her life behind bars as tolerable as possible. Now, “I feel that I’m in a really free country,” Subbotina said, as they make plans for a life together in the quiet city of Koblenz in western Germany. The next day, Skochilenko was finally able to embrace Subbotina, who flew to Germany when she heard the news. Freed Russian artist Sasha Skochilenko shows a painting she made of herself in Koblenz, Germany.

Persons: Sasha Skochilenko, ” Skochilenko, Subbotina, ” Subbotina, Skochilenko, “, ”, —, “ We’ve, Vladimir Putin’s, ‘ Sonya, I’m, ‘, Andrei Pivovarov, Olaf Scholz, Freed, Michael Probst, ” They’ve, Sasha Organizations: Associated Press, Church, Russian Locations: Russia, Germany, East, Ukraine, Koblenz, St . Petersburg, Skochilenko, “, Moscow, Moscow’s, Ankara, Turkey, Freed Russian

Starbucks is parting ways with its CEO and bringing in the head of Chipotle to lead the coffeeshop chain, as it seeks to revive flagging sales and appease outside investors. Starbucks announced Tuesday that Brian Niccol, who has led the Mexican-style chain since 2018, will take over the coffee giant starting next month. Laxman Narasimhan, who'd been with Starbucks for less than two years, is exiting the company. But in its release announcing the change, Starbucks said Niccol had "transformed" Chipotle. Starbucks CFO Rachel Ruggeri will step in as interim chief executive until Sept. 9, when Niccol officially takes over the top job.

Persons: Brian Niccol, Laxman Narasimhan, who'd, who’d, Chipotle, Niccol, Rachel Ruggeri, Scott Boatwright, Jack Hartung Organizations: Starbucks Locations: Mexican, U.S, China

☆ Ex-Colorado clerk Tina Peters, one-time hero to election deniers, convicted in computer breach
▼ + stars: | 2024-08-13 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +6 min

DENVER — Former Colorado clerk Tina Peters, the first local election official to be charged with a security breach after the 2020 election as unfounded conspiracy theories swirled, was found guilty by a jury on most charges Monday. Peters, a one-time hero to election deniers, was accused of using someone else’s security badge to give an expert affiliated with My Pillow chief executive Mike Lindell access to the Mesa County election system and deceiving other officials about that person’s identity. Lindell is a prominent promoter of false claims that voting machines were manipulated to steal the election from Donald Trump. Peters stood next to one of her attorneys at the defense table as the verdict was read in a quiet courtroom. In a post on the social media platform X after the verdict, Peters accused Colorado-based Dominion Voting Systems, which made her county’s election system, as well as lawyers for state election officials of stealing votes.

Persons: Tina Peters, Peters, Mike Lindell, Lindell, Donald Trump, Prosecutors, Gerald Wood, Matthew Barrett, “, ”, State Jena Griswold, Phil Weiser, Janet Drake, Drake, John Case, Canada ”, Conan Hayes, Hayes, Wood, Sherronna Bishop, Bishop, Robert Shapiro Organizations: DENVER — Former, My, Voting Systems, Colorado, State, Lindell, Colorado Attorney General’s, Republican Locations: DENVER — Former Colorado, Mesa County, Colorado, Utah, China, Canada, California

☆ AI and security concerns fuel a shift to on-premises IT infrastructure as companies seek more control of data
▼ + stars: | 2024-08-13 | by ( Matthew S. Smith | ) www.businessinsider.com time to read: +9 min

Organizations are shifting to hybrid cloud and on-prem IT infrastructure for more control over data. Rather than depending solely on third-party cloud services, they're looking to operate their IT data networks on-site. Hewlett Packard EnterpriseA push for on-premThis trend is a response to concerns about the reliability, security, and cost-effectiveness of cloud services. Kindo provides a secure management platform for AI systems that lets organizations control which users have access to internal AI resources. The winners will be those that can bridge cloud and on-prem to provide the level of control organizations are demanding.

Persons: —, prem doesn't, Tan, prem, There's, it's, Peter Wang, Anaconda, Wang, Dennis Duckworth, Duckworth, Chris Stegh, Stegh, They've, they've Organizations: prem, Service, Hewlett Packard Enterprise, Anaconda, Anaconda Anaconda, Amazon Web Services, eGroup Enabling Technologies Locations: Germany, Switzerland, Portland , Oregon, San Francisco

☆ Ukraine is extending its record of flipping the script on Russia through innovation and audacity
▼ + stars: | 2024-08-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

Read previewFor months, Ukraine had been on the back foot in its war against Russia, with the Kremlin's forces slowly winning control of new territory. But last week, Ukraine turned the dynamic of the war on its head, launching an audacious incursion into Russia's Kursk province. However, the training provided by Ukraine's Western allies gave Ukraine the capacity to surprise and outmaneuver Russia. It's unclear exactly how Ukraine managed to take Russia by surprise with its Kursk attack. Military experts said that Ukraine had also exploited the sluggishness and rigidity of Russian military commanders, who scrambled to devise an effective response to the attack.

Persons: —, Vladimir Putin, It's, Russia's, Jacob Parakilas, they've, it's Organizations: Service, Russia, Kremlin, Business, Black, Rand Corp, Soviet, Economist, Forbes, New York Times, Military Locations: Ukraine, Russia's Kursk, Russia, Russian, Ukrainian, Soviet, Donbas, Crimea, Kyiv, Kursk

☆ Warren Buffett's company is so big it's like a mini US economy. Here's what it signals about the state of consumers.
▼ + stars: | 2024-08-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Read previewThe latest figures from Warren Buffett's Berkshire Hathaway suggest consumers are faring better than they were just a year or two ago. Thomson ReutersHomeServicesReal estate brokerage revenues were almost flat and after-tax earnings rose 21%. New home unit sales rose 11% after dropping 20%, but pre-tax earnings fell 10%, similar to their 12% decline last year. But pre-tax earnings jumped 10% due to higher margins and lower operating expenses that offset the lower sales. AdvertisementRetailThe odd one out was the retailing subdivision, where revenues fell 4.5% and pre-tax earnings fell 23%.

Persons: —, Warren Buffett's Berkshire Hathaway, Here's, Thomson, Warren Buffett, Clayton, Rick Wilking, Berkshire, They've, There's Organizations: Service, Business, Thomson Reuters, Clayton Homes, Reuters McLane, Berkhire Hathaway Locations: Warren Buffett's, Berkshire, Renton , Washington, Omaha , Nebraska

☆ Home Depot expects sales to weaken as consumers grow more cautious
▼ + stars: | 2024-08-13 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared to the prior fiscal year. It had previously expected comparable sales, a metric that takes out the impact of store openings and closures and other one-time factors, to decline about 1%. Total sales are expected to increase between 2.5% and 3.5% including a 53rd week in the fiscal year and approximately $6.4 billion in sales from SRS. In an interview with CNBC, Chief Financial Officer Richard McPhail said Home Depot has contended with consumers who have a "deferral mindset" since the middle of 2023. It marked the seventh consecutive quarter of negative comparable sales at Home Depot.

Persons: Richard McPhail, They've, McPhail, Jerome Powell, –, Robert Hum Organizations: CNBC, LSEG, Depot, Target, Home Depot, Consumers, Federal Reserve Locations: Florida Keys, United States, U.S

☆ Looking to buy a home? Redfin's research lead says a flood of housing supply is set to hit the market by the end of 2025 as locked-in homeowners finally start selling.
▼ + stars: | 2024-08-13 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

Read previewProspective homebuyers are painfully aware of just how bad the housing market is right now. Mortgage rates have doubled since 2022 following the Federal Reserve's initiative to raise rates and curb inflation. In an interview with Business Insider, she shared her predictions for the housing market and mortgage rates. Advertisement"That can help to alleviate some of the pain associated with getting a higher rate," Zhao said. The housing market isn't going to unlock overnight, but Zhao is optimistic that conditions will improve for homebuyers going forward.

Persons: —, Chen Zhao, … Zhao, Zhao, It's, Zhao doesn't Organizations: Service, Federal, Business, Fed, Bank of America Locations: Florida

☆ The big ‘carry trade’ unwind is far from over, strategists warn
▼ + stars: | 2024-08-13 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

watch nowEconomists have said it is difficult to accurately assess the scale of the yen carry trade, with estimates varying widely. Some analysts, using Japan's foreign portfolio investments, say the yen carry trade could total as much as $4 trillion, Reuters reported. "The real Japan strategy is not just a quick carry trade, borrowing at close to zero interest rates in Japan and investing in high yield assets. Analysts at Barclays said systematic selling pressure does not appear to have been exhausted yet and it's "too early" to call an all-clear to the carry trades unwind. We expect volatility to remain elevated, which should continue to hurt EM carry trades," the analysts at Barclays said in a research note published Sunday.

Persons: Kazuhiro Nogi, Richard Kelly, he'd, Kelly, CNBC's, Nogi, Jesper Koll, Koll, What's Organizations: Tokyo Stock Exchange, Afp, Getty, Bank of Japan, TD Securities, Reuters, TS Lombard, Bank of, The Bank of Japan, Federal Reserve, Monex, Barclays Locations: Tokyo, Japan, MEX, Brazil, Bank of Japan, U.S

☆ This little known aerospace stock could rally 30%, Goldman Sachs says
▼ + stars: | 2024-08-13 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Ducommun 's growth and profit margin potential make the stock hard to ignore, according to Goldman Sachs. Analysts led by Noah Poponak upgraded the small cap aerospace stock to buy from neutral. Goldman called the company an "acquisition compounder opportunity" within the aerospace and defense sector ever since current management took the helm in 2017. Goldman was the lead joint bookrunner for Ducommun's last sale of stock in May 2023. Ducommun shares rose more than 8% in early trading on Tuesday.

Persons: Ducommun, Goldman Sachs, Noah Poponak, Poponak, Goldman Organizations: Triumph Locations: Monday's

☆ Who gets the Hamptons house? How rich Americans give homes to their children without causing feuds.
▼ + stars: | 2024-08-13 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +3 min

Even among rich heirs, passing on real estate without proper planning can lead to sibling strife. What if one sibling wants to renovate the Aspen chalet and the others don't want to split the cost? Instead of leaving these thorny questions up to the kids, parents can control how the property will be managed after they die. Related storiesWhen equal isn't equitableParents often assume that their adult children will share the property equally after they pass, according to Ludman. Perhaps two of three adult heirs are wealthier than the third, who doesn't want to share the burden of property tax and other costs.

Persons: haven't, Adam Ludman, Will, Ludman Organizations: Service, Hamptons, Aspen, JPMorgan Private Bank Locations: Ludman

☆ Suntory CEO on consumer demand and the state of global alcohol market
▼ + stars: | 2024-08-13 | 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 EmailSuntory CEO on consumer demand and the state of global alcohol marketSuntory CEO Takeshi Niinami joins 'Money Movers' to discuss the challenges he sees in the U.S., the health trend pushing consumers away from alcohol, and more.

Persons: Takeshi Niinami Organizations: Suntory Locations: U.S

☆ Elon gave Trump 1 million listeners. Trump gave his greatest hits.
▼ + stars: | 2024-08-13 | by ( Katherine Tangalakis-Lippert | John L. Dorman | ) www.businessinsider.com time to read: +6 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFormer President Donald Trump and Tesla CEO Elon Musk on Monday held a much-anticipated conversation live-streamed through Musk's social media platform, X. After a 42-minute delay, Musk began the stream by saying, "This massive attack illustrates there's a lot of opposition to people just hearing what President Trump has to say." Musk said he'd be "happy to help out" with a government efficiency commission, which Trump seemed open to, saying: "You're the greatest cutter." So every one of you is gone, and you are the greatest," Trump said, praising Musk.

Persons: —, Donald Trump, Elon Musk, Musk, Ron DeSantis, Trump, Kamala Harris, — she's, Biden, Tesla, Harris, 4ZGWHV49Mw — Kamala, Elon, Joe Biden Organizations: Service, Tesla, Florida Gov, Business, RNC, Trump, National Labor Relations, Reuters, of Education, SpaceX, Musk Trump, GOP Locations: Venezuela, United States, Mexico, California, Paris

☆ 3 data points that could impact how big of a Fed rate cut the market gets next month
▼ + stars: | 2024-08-13 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Management blamed "higher interest rates and greater macroeconomic uncertainty" for pressuring consumer spending on home improvement projects. The recent data certainly supports the idea of a rate cut at the Fed's mid-September meeting. However, that's weeks away, we know things can turn on a dime in the data and the stock market. Lower rates can certainly impact the stock market — but when it comes to picking individual stocks, we remain focused on earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Thursday's, Stanley Black, Decker, Stifel, bode, Russell, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, PPI, Management, Dow, Home Depot, Trade, Costco, Depot, CNBC, New York Stock Exchange, Getty Locations: U.S, New York City

Starbucks announced Tuesday it's replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol as the coffee chain tries to reverse a sales slump. Before joining Starbucks, Narasimhan was chief executive of Reckitt, which owns brands like Lysol and Mucinex. Narasimhan's surprise ouster also suggests that Starbucks' board isn't interested in a deal with activist investors. When news of Elliott's stake in Starbucks first broke in July, the hedge fund offered Starbucks' board a settlement that would protect Narasimhan's job, CNBC previously reported. Starbucks' board did not initially respond or engage with Elliott for some time, driven in part by the lingering influence of Schultz.

Persons: Laxman Narasimhan, Brian Niccol, Rachel Ruggeri, Niccol, Narasimhan, Howard Schultz, Elliott, Chipotle, Mellody Hobson, shakeup, Brian, Hobson, he's, Bell, Narasimhan's, Schultz, Scott Boatwright, Jack Hartung Organizations: Starbucks, Elliott Management, Yum Brands, Bell, CNBC Locations: U.S, China, Chipotle, Pizza

LONDON — European stocks are expected to open higher Tuesday, regaining some positive momentum after last week's volatility. The U.K.'s FTSE index is seen opening 26 points higher at 8,233, Germany's DAX up 18 points at 17,288, France's CAC 40 up 14 points at 7,259 and Italy's FTSE MIB 62 points higher at 32,084, according to data from IG. European stocks closed mixed on Monday as forthcoming U.S. and U.K. inflation data dominated investor attention. U.K. wage data released by the Office for National Statistics on Tuesday showed that pay excluding bonuses grew 5.4% year-on-year between April and June — the lowest rate in two years. U.K. inflation data, due on Wednesday, will be the first print since the BOE cut interest rates by 25 basis points.

Persons: Germany's DAX, Jack Kennedy, BOE Organizations: LONDON, CAC, IG, Office, National Statistics, Reuters, Bank of England, U.S Locations: France, Spain, Italy

☆ The international fight over a US gymnast's bronze medal is getting messy
▼ + stars: | 2024-08-13 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +5 min

Read previewA contentious judging decision and messy appeals process has roiled women's gymnastics — and spiraled into an international argument for Olympic bronze between the US and Romania. It kicked the final decision to the International Olympic Committee, which ordered Chiles to return her bronze medal. On Sunday, USA Gymnastics said it had video evidence — which it hadn't previously submitted — which proved Landi's inquiry was made within 47 seconds. USA Gymnastics vowed Monday to "continue to pursue every possible avenue and appeal process, including to the Swiss Federal Tribunal." USA Gymnastics declined to comment beyond the statements on its website.

Persons: —, Jordan Chiles, Ana Bărbosu, Chiles, Chiles should've, who'd, she'd, Cecile Landi, Simone Biles, Sabrina Maneca, didn't, Bărbosu, Tim Clayton, hadn't, Jordan, Biles, Suni Lee, Lee, Jo, Sabrina Organizations: Service, Business, Romanian, Romanian Gymnastics Federation, Sport, Gymnastics Federation, International Olympic Committee, Olympic, Paralympic, CNN, USA, Swiss Locations: Romania, Romanian, Paris, USA, Swiss, Jordan

☆ Looking to buy a home? Redfin's research lead says a flood of housing supply is set to hit the market by the end of 2025 as locked-in homeowners finally start selling
▼ + stars: | 2024-08-13 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Persons: —, Chen Zhao, … Zhao, Zhao, it'll, Zhao doesn't Organizations: Service, Federal, Business, Fed, Bank of America Locations: Florida

☆ I took my girlfriend on a 10-day multi-city trip for our first vacation together. The risky choice paid off.
▼ + stars: | 2024-08-13 | by ( Adam England | ) www.businessinsider.com time to read: +4 min

After dating for a few months, I planned our first official couple trip: a 10-day multi-city vacation in Spain. Fortunately, our trip went better than I could've ever imagined. I planned the vacation as a birthday gift, though we were both apprehensiveMy girlfriend and I went on a lengthy trip for our first vacation together. Our Spain trip ended up being the first of multiple vacations togetherWe had a great time in Spain. Of course, a first vacation as long and intense as this one might not be the best choice for every new couple.

Persons: —, we'd, We'd, Adam England, There's, Pol Albarrán Organizations: Service, Business Locations: Spain, Paris, Venice, Spanish, Málaga, Barcelona, Sofia, Bulgarian

☆ Ukraine’s Russia gambit punctures Putin’s veneer of invincibility once again
▼ + stars: | 2024-08-13 | by ( Nick Paton Walsh | ) edition.cnn.com time to read: +8 min

CNN —It is another coin-flip in a conflict punctuated with at least annual reminders of how frail Vladimir Putin’s Russia truly is. It is purposefully unclear exactly where Ukraine’s forces are. It is also unclear where Ukrainian forces are digging in and where they are just racing through. This time it is Putin’s own FSB, who couldn’t keep control of the borders, in Putin’s war of choice. Residents of an apartment building damaged after shelling by the Ukrainian side stand near the building in Kursk, Russia, on Sunday.

Persons: Vladimir Putin’s, Kyiv’s, Wagner, Oleksandr Syrskyi, “, ”, Lindsey Graham, Richard Blumenthal, Yevgeny Prigozhin’s, Putin, Andrew Kravchenko, Alexei Smirnov, it’s, he’s, Valery Gerasimov, Joseph Stalin, insurgencies, Putin’s, egotistically, Volodymyr Zelensky, Russia’s Putin, –, Zelensky, Ukraine’s Organizations: CNN, Kyiv, Kremlin, Armed Forces of, Bloomberg, Getty, Manpower, Residents, AP Locations: Vladimir Putin’s Russia, Kharkiv, Kyiv, Russia, Ukraine, Kursk, Rostov, Moscow, Lgov, Armed Forces of Ukraine, Donbas, Pokrovsk, Ukrainian

☆ Who Is Brian Niccol, the Incoming Starbucks C.E.O. From Chipotle?
▼ + stars: | 2024-08-13 | by ( Danielle Kaye | ) www.nytimes.com time to read: +1 min

Starbucks unveiled an abrupt leadership change on Tuesday: Brian Niccol, a high-profile name in the restaurant industry, is taking the reins, after months of weak sales at the coffee giant and a falling stock price. Mr. Niccol will step in as chief executive next month, replacing Laxman Narasimhan, whose relatively brief stint in the top job at Starbucks began in March last year. The company’s chief financial officer, Rachel Ruggeri, will serve as interim chief executive until Mr. Niccol officially joins the company on Sept. 9. Mr. Niccol is coming off of six years at the helm of Chipotle Mexican Grill — a period that saw the fast-casual burrito chain nearly double its sales. The company’s stock price has increased about 800 percent since he took over in early 2018.

Persons: Brian Niccol, Niccol, Laxman Narasimhan, Rachel Ruggeri, Chipotle Organizations: Starbucks

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