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☆ Fast food chains are getting the message about soaring prices
▼ + stars: | 2024-05-06 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

To win penny-pinching customers back, some say they're planning smaller price increases for the rest of the year. Wendy's CFO Gunther Plosch told investors on Thursday that consumers are "still under pressure" — especially those with household incomes under $75,000. Chains raised prices drastically during the pandemic to offset rising labor and food costs, and it's coming back to bite them. For some restaurant chains, comparable sales even fell. McDonald's would "certainly" be "prudent and thoughtful" about any further price increases in the rest of 2024, Borden said.

Persons: —, Gunther Plosch, Ian Borden, Joshua Kobza, Burger, Popeyes, Burger King, Wendy's, William Blair, Sharon Zackfia, Borden, Katie Fogertey Organizations: Service, Starbucks, KFC, US, Bureau of Labor Statistics Locations: Burger, North America

☆ Fast food feels more expensive than ever before, and people are sick of it. Here's why.
▼ + stars: | 2024-05-04 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Analysts say fast-food prices feel particularly painful because they're rising faster than grocery prices. Fast-food prices have been shooting upRestaurant prices are determined by "two major categories" — food costs and labor costs, Citi analyst Jon Tower told BI. Related storiesFast-food chains put up their menu prices to reflect the higher food costs and payrolls. AdvertisementGrocery inflation is coolingFast food seems particularly expensive right now because grocery inflation is cooling much more rapidly, analysts BI spoke to said. AdvertisementBut the inverse is also true — grocery stores benefit much more than restaurants when food inflation cools.

Persons: —, Jim Sanderson, Jon Tower, Sharon Zackfia, William Blair, Price, Danilo Gargiulo, Bernstein, Gargiulo, they've, Garguilo, Sara Senatore, Chad Frye Organizations: Analysts, Service, Northcoast Research, Citi, US Bureau of Labor Statistics, Bank of America Locations: Russia, Ukraine, California

☆ Don't worry, your Shake Shack burger shouldn't get any more expensive this year
▼ + stars: | 2024-05-03 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Shake Shack doesn't currently plan to increase prices again this year, CFO Katie Fogertey said. Overall, menu prices went up in the mid-single digits in the quarter, she said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Some diners have said that rising prices at fast-food and fast-casual chains are putting them off. Shake Shack raised menu prices by about 3% in mid-March, CFO Katie Fogertey told investors on Thursday.

Persons: Katie Fogertey, — Organizations: Service, Starbucks, Business

☆ Alaska, Delaware, and West Virginia are the only states that still don't have a single billionaire resident
▼ + stars: | 2024-05-03 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Alaska, Delaware, and West Virginia aren't home to any billionaires, Forbes reported. AdvertisementAlaska, Delaware, and West Virginia are the only states that still don't have a single billionaire resident, according to a new report by Forbes. Forbes estimates that the West Virginia resident, who's also the president of Marshall University, was worth about $900 million as of March. AdvertisementTo be clear, Alaska, Delaware, and West Virginia are among the least-populated states in the US. According to Census Bureau estimates for 2023, Alaska was the fourth-smallest state or district in the US by population, Delaware was seventh-smallest, and West Virginia was 13th-smallest.

Persons: Forbes, —, Elon Musk, Mark Zuckerberg, Michael Bloomberg, Brad Smith —, who's, Elizabeth Snyder, Jonathan Rubini, Leonard Hyde, Hyde Organizations: Service, Forbes, New, Henley & Partners, Microsoft, Marshall University, Properties, Wall, Henley, Partners Locations: Alaska, Delaware, West Virginia, California, Alaska , Delaware, Texas, New York, Tex, Florida, . California, Austin, Scottsdale , Arizona, Palm Beach , Florida

☆ McDonald's says it's listening to penny-pinching customers and focusing on value
▼ + stars: | 2024-05-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Consumers are "price weary," and McDonald's is paying attention. McDonald's will be "thoughtful" about any further price increases in 2024, CFO Ian Borden said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "The consumer is price weary," McDonald's CFO Ian Borden told analysts at the company's earnings call on Tuesday. "And I think we certainly are going to be prudent and thoughtful about any further price increases that we're looking at for the rest of 2024."

Persons: Ian Borden, Borden, —, McDonald's, Chris Kempczinski Organizations: Service, Business

☆ A food delivery driver who bit off a customer's thumb has been seen delivering food again
▼ + stars: | 2024-05-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Read previewA food delivery driver who pleaded guilty to grievous bodily harm after biting off a customer's thumb has been spotted delivering food again, the BBC reported. Though Deliveroo riders have to be over 18 with no unspent criminal convictions, it's historically been up to individual riders, not Deliveroo itself, to check that their substitutes meet this criteria. But after Rocha appeared in court, the BBC spotted her twice collecting food for delivery on her moped, it reported. "We take our responsibilities extremely seriously and are committed to preventing misuse of our platform," the spokesperson told BI. "We have strengthened our processes and recently introduced a new registration process and identity verification technology for substitute riders."

Persons: —, Jeniffer Rocha, Stephen Jenkinson, Jenkinson, Rocha, didn't, he'd, She's, Jenkinson — Organizations: Service, BBC, Business, Winchester Crown, Deliveroo

☆ Peloton's CEO steps down as the company cuts 15% of staff
▼ + stars: | 2024-05-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Peloton CEO Barry McCarthy is stepping down, the fitness company announced on Thursday. After reaching new highs during the pandemic, the company has recalled products, laid off workers, and seen sales and its stock tank. McCarthy replaced John Foley as Peloton CEO and president in February 2022. But since then, the company has recalled products, laid off thousands of workers, and seen sales and its stock tank. It posted a net loss for the quarter of $167.3 million, down from $275.9 million for the same quarter in 2023.

Persons: Barry McCarthy, —, McCarthy, John Foley, Karen Boone, Chris Bruzzo Organizations: Service Locations: Ohio

☆ Starbucks says it's launching boba-inspired drinks this summer
▼ + stars: | 2024-05-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Starbucks is set to roll out its own version of boba in May, CEO Laxman Narasimhan said Tuesday. "We are launching our first texture innovation, Pearls," he said. Some Starbucks baristas have posted TikTok videos making drinks with "raspberry-popping pearls." AdvertisementStarbucks is set to roll out its own version of boba at its stores this summer, more than two years after it first confirmed that it was testing drinks with pearls. "For summer, we are launching our first texture innovation, Pearls," CEO Laxman Narasimhan told analysts at the company's earnings call Tuesday.

Persons: boba, Laxman Narasimhan, — Organizations: Starbucks, Service, Business

☆ Airlines are going to start giving out automatic refunds for delayed or canceled flights — here's who and what will be eligible
▼ + stars: | 2024-04-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

New regulations will require airlines to provide refunds for delayed or canceled flights. The refunds, which airlines have to implement over the next six to 12 months, must be automatic and prompt. AdvertisementAirlines are going to be required to provide automatic refunds for delayed or canceled flights under new Department of Transportation regulations, announced on Wednesday . The checked bag isn't delivered within 15 hours of an international flight that's 12 hours long or less arriving at the gate. The checked bag isn't delivered within 30 hours of an international flight that's more than 12 hours long arriving at the gate.

Persons: —, they're Organizations: Service, Airlines, Department of Transportation, Business, Transportation

☆ Chipotle says its service is much faster now, and it means fewer people are bothering to order ahead
▼ + stars: | 2024-04-26 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Chipotle's CFO said that says that fewer customers are ordering ahead as its service speeds up. A key metric for the chain is how many entrées each restaurant makes in its peak 15 minutes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChipotle says that its service is becoming so much speedier that fewer customers are bothering to order ahead on its app. During the pandemic, many fast-food and fast-casual chains rolled out ways for customers to order ahead so that customers could skip the line.

Persons: —, Chipotle, Jack Hartung, Brian Niccol, Niccol, Hartung Organizations: Service, Business, Boston

☆ Chipotle had to rename its barbacoa burrito filling because customers didn't know what it was
▼ + stars: | 2024-04-25 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Chipotle renamed its barbacoa filling because customers didn't know what it was. It has now been renamed "braised beef barbacoa," its CEO said. AdvertisementChipotle's CEO said it had to rename its barbacoa burrito filling because diners weren't sure what it was. "Many of our guests did not know that barbacoa was braised beef," CEO Brian Niccol told analysts at the company's first-quarter earnings call on Monday. The item, which is labeled on its US menu as "beef barbacoa" and in its ads as "braised beef barbacoa," is available as a filling for burritos, burrito bowls, salad bowls, tacos, and quesadillas.

Persons: Chipotle, Barbacoa, —, barbacoa, Brian Niccol Organizations: Service, Business Locations: Mexico

☆ You'll soon be able to get an automatic refund when your flight is delayed or canceled
▼ + stars: | 2024-04-24 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Airlines must start providing passengers with automatic refunds when flights are delayed or canceled. New regulations announced Wednesday mean passengers can also get automatic refunds on delayed baggage. AdvertisementAirlines are to be required to provide passengers with "prompt" automatic refunds when their flights are delayed or canceled under a new rule from the Department of Transportation, announced on Wednesday. This includes domestic flights delayed by more than three hours and international flights delayed by more than six hours. AdvertisementMany passengers have previously spoken to Business Insider about their troubles getting compensation for delayed and canceled flights and lost luggage.

Persons: —, they're, lockdowns Organizations: Service, Airlines, Department of Transportation, Boeing

☆ A Chick-fil-A worker who got millions of views with TikToks of her staff meals says the company stopped her from posting. Now she's quit to become a content creator.
▼ + stars: | 2024-04-24 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Read previewA former Chick-fil-A worker said that the fried-chicken chain asked her to stop posting videos of her staff meals on TikTok because she was breaking company policy. Food reviews are hot stuffRestaurant reviews and food rankings are popular topics for TikTok videos. Webb's last Chick-fil-A video before the company's PR team contacted her, which has 3.4 million views, shows her reviewing the four drinks in its limited-edition Cherry Berry range. AdvertisementWebb's TikTok account also features videos of her reviewing her staff meals at Aldi, where she also has a job. In her video announcing the end of her Chick-fil-A staff meal videos, Webb said that other brands wanting to collaborate with her should reach out.

Persons: —, Miriam Webb, Webb, Chick, I'm, Miriam Webb's, Cherry Berry, commenter Organizations: Service, Business, PR, Aldi Locations: Los Angeles County, TikTok

☆ A British Airways flight to nowhere circled in the air for 4 hours after its weather monitoring system collapsed
▼ + stars: | 2024-04-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Read previewAn already delayed British Airways plane that took off from Singapore landed back at the same airport five hours later after a technical fault forced it to turn back. British Airways Flight 12 circled Singapore for around four hours before landing back where it started. Advertisement"Planes are designed to land below certain weights," Business Insider previously reported. Advertisement"We currently do not have a revised departure time for your flight," British Airways said in an email to passengers at about 9:15 a.m. local time. However, that flight had to be canceled, as British Airways did not have any other aircraft available.

Persons: — Organizations: Service, British Airways, London Heathrow, Business, Airbus, Flightradar24 Aircraft, Passengers, Singapore Changi Airport, Heathrow Locations: British, Singapore, Singapore Changi, London, Malaysia, Heathrow, Los Angeles

☆ Thousands of planes have run into issues with jammed GPS signals while flying over Eastern Europe, and some people are blaming Russia
▼ + stars: | 2024-04-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

About 46,000 flights reported navigation problems flying over the Baltics during an eight-month period, The Sun reported. AdvertisementThousands of planes may have run into issues with jammed GPS signals, according to a report by British tabloid The Sun which suggests that Russia may be to blame. AdvertisementBoth The Sun and The Guardian reported that Russia is suspected of being involved in GPS jamming attacks. The frequency of instances of navigation problems rocketed from fewer than 50 a week last year to more than 350 a week last month, The Sun reported. But the CAA told The Independent that jamming and spoofing near conflict zones were often by-products of military activity, not deliberate actions.

Persons: —, Grant Shapps, Rishi Sunak, There's, Luc Tytgat, Glenn Bradley Organizations: Sun, Service, British, The Sun, European Union Aviation Safety Agency, Guardian, Wizz Air, Royal Air Force, CAA, Independent, UK Civil Aviation Authority, Ryanair Locations: Estonia, Latvia, Lithuania, Poland, Türkiye, Cyprus, Russia, GPSJAM.org, Sun, Baltic, Kaliningrad, Russian, Baltics, Eastern Europe, Ukraine

☆ People are really annoyed about the price of fast food
▼ + stars: | 2024-04-20 | by ( Grace Dean | ) www.businessinsider.com time to read: +7 min

Fast food is getting more expensive, and Americans are annoyed about it. Diners told BI they're cutting back on how often they get fast food because of rising prices. AdvertisementBut cheaper fast food may be some way off. Experts say it could have a ripple effect on wages across the fast food industry nationwide, meaning that your favorite spots could become even pricier. The main reason Rodriguez gets fast food is the taste, he said.

Persons: —, Sara Senatore, Dunkin, Warren Colehour, Chad Frye, Artur Widak, Frye, Martin Jennings, it's, Chipotle, James R, Martin, Ben Heyworth, Burger King, He's, Del, Richard McConnell, Ricardo Rodriguez, Rodriguez Organizations: Service, Bank of America, McDonald's USA, Getty, Subway, Consumers, McDonald's Locations: Ukraine, McDonald's, Kentucky, California, Florida, Olive, Burger, Oregon

☆ Tesla is recalling almost 4,000 Cybertrucks over a fault that could cause the accelerator to jam open
▼ + stars: | 2024-04-19 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Tesla is voluntarily recalling almost 4,000 Cybertrucks, NHTSA said. The affected vehicles have a fault with their accelerators that could cause the pedal to jam, it said. Tesla said it was not aware of any collisions, injuries, or deaths related to the fault. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla is voluntarily recalling almost 4,000 Cybertrucks over a fault with their accelerators, the US National Highway Traffic Safety Administration said.

Persons: Tesla, — Organizations: NHTSA, Service, Traffic Safety Administration, Business

☆ The world's richest person just put 2 more of his kids on the board of his $430 billion company
▼ + stars: | 2024-04-18 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Bernard Arnault has appointed two more of his children to LVMH's board. Alexandre Arnault is a vice president at Tiffany & Co. and Frédéric Arnault heads LVMH's watches division. AdvertisementThe French luxury-goods billionaire Bernard Arnault, who's the world's richest person, has appointed two more of his children to LVMH's board. Only Jean Arnault, Bernard Arnault's youngest son, doesn't sit on the company's board. Bernard Arnault is the world's richest person, with a net worth of about $221 billion, according to estimates by Bloomberg.

Persons: Bernard Arnault, Alexandre Arnault, Frédéric, Bernard Arnault's, —, Frédéric Arnault, Delphine Arnault, Dior Couture, Antoine Arnault, LVMH, Jean Arnault, doesn't, Louis Vuitton's, Louis Vuitton, Dior, Marc Jacobs, Givenchy Organizations: Tiffany, Service, Christian Dior, Bloomberg

☆ Fast food has become a luxury in California, a franchisee says
▼ + stars: | 2024-04-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Read previewA California franchisee has warned that some of his customers think fast food is becoming a "luxury" as restaurants increase prices to cover the state's new $20 minimum wage for fast-food workers. AdvertisementThe new wage in California comes amid rising prices of fast food across the US more generally. A combination of wage and food inflation pushed prices up during the pandemic, and some diners say they're cutting down on how much fast food they eat because it's no longer affordable. "The appetite that my customers have for price increases is not unlimited," Scott Rodrick, a McDonald's franchisee with 18 restaurants in northern California, previously told BI. Is fast food no longer affordable?

Persons: —, Brian Hom, I've, Scott Rodrick, Tony Nix Organizations: Service, Business Locations: smoothie, San Jose, California

☆ A California franchisee says he's reducing staffing, raising prices, and mulling kiosks to cover the $20 wage. Closing stores is a last resort.
▼ + stars: | 2024-04-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

A franchisee told BI how he's trying to absorb California's $20 minimum wage for fast-food workers. "Right now I'm trying to size what the true impact will be," he said. But the higher minimum wage has meant that Hom's more experienced workers have also got a boost. He declined to say how much he paid them, but noted that it was "significantly higher than the minimum wage." Some franchisees of Pizza Hut and Round Table Pizza have laid off all their delivery drivers, believed to be because of the $20 wage.

Persons: he's, —, Brian Hom, I'm, Hom, He's, they're, Roy Gilad Organizations: Service, Burger King, Energy Locations: San Jose, California, smoothie, —, Pizza

☆ The squatters in Gordon Ramsay's London restaurant are likely to get kicked out, but the process is a pain, lawyers say
▼ + stars: | 2024-04-16 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +5 min

Last week, London's Metropolitan Police were made aware of a group of squatters who had taken over his York & Albany hotel-restaurant in Camden, a pricey borough of London. A legal notice taped to the outside of York & Albany, Gordon Ramsay's restaurant and hotel in Camden, London, on April 15, 2024, as squatters occupy it. Property owners have to take the matter to court, applying for a possession order. As well as direct legal costs, commercial squatting also presents other concerns for property owners, including loss of income. AdvertisementBut property owners, and business owners like Ramsay, will be wondering "what damage is being done internally," Helferty said.

Persons: —, Gordon Ramsay, Ramsay, Gordon Ramsay's, Grace Dean, Niall Helferty, Helferty, Andrew Whitehead, they've, Gordon Ramsay isn't, Gordon, BI's Grace Dean, it's Organizations: Service, London's Metropolitan Police, Business, Art, York &, Albany —, The Met Police, Kuits Solicitors, Stephensons Solicitors, York & Albany, building's, Independent, Camden Council, The Independent Locations: York, Albany, Camden, pricey, London, York & Albany, Camden , London, —

☆ A person was taken to hospital after a gallon of ammonia was spilled in a Gordon Ramsay restaurant
▼ + stars: | 2024-04-16 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

A gallon of ammonia was spilled in the basement of a Gordon Ramsay restaurant in Illinois, local emergency services said. AdvertisementA person was taken to hospital in a "stable" condition after about a gallon of ammonia spilled in the basement of a Gordon Ramsay restaurant in a city in the suburbs of Chicago, local emergency services said. Business Insider did not immediately receive a response to a request for comment from Gordon Ramsay Restaurants North America, sent outside regular US working hours. The Scottish TV chef originally opened most of his North American restaurants in partnerships with Caesar's Entertainment, but began opening some through Gordon Ramsay North America in 2019. AdvertisementSquatters have recently taken over one of Ramsay's restaurants in London and turned it into what they described as a community art café.

Persons: Gordon Ramsay, —, Phil Giannattasio, Giannattasio, Ramsay Organizations: Staff, Service, Disease Control, Business, Gordon Ramsay Restaurants North, DuPage County Health Department, Scottish, Caesar's Entertainment, Gordon Ramsay North America Locations: Illinois, Chicago, Gordon Ramsay Restaurants North America, DuPage County, Europe, North America, Asia, Chelsea, London, American, Naperville, Wellington, British

☆ Franchisees say it's them, not big corporations, who are the real losers of California's $20 fast-food wage
▼ + stars: | 2024-04-15 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Restaurant franchisees say they're the real losers of California's $20 fast-food minimum wage. AdvertisementFranchisees say they have to bear the brunt of California's new $20 minimum wage for fast-food workers. But the $20 wage applies to both corporate-owned and franchise restaurants, even if the franchisee just owns one or two restaurants. She added that the new $20 wage felt like an "unfair target on our backs." "You're going to have to have the mega owners as they're called, or 20 stores, a hundred stores, 500 outlets.

Persons: —, Keith Miller, Brian Hom, We're, Hom, Miller, he'd, Mike Mangoine, Jessica D'Ambre, D'Ambre, Matthew Haller, Burger King, they're Organizations: Service, Business, Subway, McDonald's Corporation, Los Angeles Times, Times, International Franchise Association, Taco Bell Locations: California, San Jose , California, Los Angeles, Inland, Burger, McDonald's

☆ Fast-food franchisees in California fear they'll lose customers to Chili's and Applebee's as prices soar over $20 wage
▼ + stars: | 2024-04-14 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Fast-food franchisees in California fear diners will flock to Chili's and Applebee's to avoid price hikes. As a result, the price gap between fast-food and casual dining restaurants could narrow. This could potentially cause the price difference between fast-food and casual dining restaurants to shrink. Fast-food restaurants in California have been hiking prices to offset the wage, which is 25% above the state's general minimum wage. "We're gonna start to compete with them," Ghai said, speaking about the casual dining restaurants.

Persons: —, Shane Paul, Paul, Scott Olson, Taco Bell, Ghai, he's, wouldn't, Scott Rodrick, Rodrick, Hajime Uba, Brian Vaccaro, Raymond James, Sal Vitalie, Vaccaro, Sharon Zackfia, William Blair Organizations: Service, Burger Locations: California, San Diego, South San Francisco

☆ You can now place DoorDash and Uber Eats orders through a call with an AI voice bot
▼ + stars: | 2024-04-12 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Some restaurants are connecting callers to an AI voice service to place DoorDash and Uber Eats orders. Many people now place delivery orders online, but Kea's founder says restaurants sometimes struggle to handle phone orders. AdvertisementA new voice AI service means diners can place delivery orders with services like DoorDash and Uber Eats via phone call. The AI guides them through the transactions, including suggesting add-ons and recommending items they got in previous orders, Ahmad said. The delivery platforms that Kea can refer orders to are DoorDash, Uber Eats, Postmates, Grubhub, and Favor, Ahmad said.

Persons: DoorDash, Uber, Kea, —, Adam Ahmad, Ahmad, Siri, –, who'll, Olo, They'd, We're, NDAs — Organizations: Voice, Service, California Fish Locations: Kea, California

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