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Why analysts are calling Cava the next Chipotle
  + stars: | 2024-09-27 | by ( Natalie Rice | ) www.cnbc.com   time to read: +2 min
Fast-casual Mediterranean chain Cava has had an impressive year since going public in June 2023. Now, Wall Street analysts see shades of another fast-casual success story: Chipotle Mexican Grill . In its most recent results for the second quarter of 2024, Cava bucked industry trends by posting same-store sales growth of 14.4% and traffic growth of 9.5%. Cava Group co-founder and CEO Brett Schulman has said its prices increased 15% between 2019 and 2024. "You hear a lot about the value wars lately.
Persons: Nick Setyan, Brett Schulman, Schulman, That's, Cava, Chipotle Organizations: Wall Street, Wedbush Securities, Cava Group Locations: Cava, Chipotle
New York City Mayor Eric Adams was indicted by federal grand jury amid a corruption probe. AdvertisementNew York City Mayor Eric Adams' administration has been embroiled in turmoil for months. July 2024: Adams served grand jury subpoenasFederal prosecutors subpoenaed Adams, his election committee, and City Hall in July. Advertisement"We have not identified any evidence of illegal conduct by the mayor," Adams' attorneys said at the time. September 26, 2024: Adams indictment unsealedThe 57-page indictment against Adams was unsealed on September 26, detailing serious allegations of corruption, bribery and wire fraud.
Persons: Eric Adams, , Adams, Brianna Suggs, Suggs, Rana Abbasova, Winnie Greco, Greco, Edward Caban, Public Safety Philip Banks III, Sheena Wright, David Banks, Caban, Lisa Zornberg, Zornberg, Thomas Donlon, Ashwin Vasan, Banks, Alexandria Ocasio, Cortez, Damian Williams, Williams Organizations: York City, Service, New York Police Department, Democrat, FBI, Agents, New York Times, Turkish Airlines, Times, City Hall, Associated Press, Public Safety, New York City Schools, New York, NYPD, Democratic New York Rep, New, Southern, of Locations: York, New York City, Brooklyn, manila, Jersey, Manhattan, Turkish, New, Alexandria, of New York
States of flow can lead to productive work sessions or explain your compulsion to endlessly scroll through social media. The act of pulling the lever turns an uncertain outcome into a certain one. Binary tasks, where the only outcomes are success or failure, aren't very conducive to flow, Melnikoff says. have a yes-or-no outcome, you're better off focusing on a more ambiguous number of consecutive successes or failures, Melnikoff says. "People value the sense that they're being productive and one with the activity that they're engaging in.
Persons: David Melnikoff, Mihaly Csikszentmihalyi —, Melnikoff, doesn't Organizations: Stanford Graduate School of Business, CNBC Locations: States, they're
A grand jury has indicted New York City Mayor Eric Adams on 5 criminal counts in a corruption probe. Prosecutors accuse Adams of soliciting bribes from wealthy foreign businesspeople. He has been hit with charges of bribery and receiving illegal campaign contributions from foreign nationals. AdvertisementA grand jury has indicted New York City Mayor Eric Adams on five criminal counts in a federal corruption probe. The retired captain of the New York Police Department is the first sitting mayor of New York City to be indicted while in office.
Persons: Eric Adams, Adams, Organizations: New, New York City, Service, New York Police Department, Business Locations: New York, New York City
In today's big story, the economy is heading in the right direction, but consumers aren't buying it . Things seem to be going really well for the economy, right? Consumers aren't feeling bullish about the economy these days. Last time around, pesky inflation was keeping things like groceries and housing costs high, even as the rest of the economy showed improvement. China's stimulus plan to boost its ailing economy sent emerging markets indexes to their highest level since April 2022 .
Persons: , Rebecca Zisser, We've, Insider's Juliana Kaplan, Spencer Platt, Getty, Tyler Le, We'll, Morgan, Mike Wilson, Steven Blitz, China's, aren't, Chelsea Jia Feng, weren't, Natalie Ammari, that's, Ron Sherman, Gen, Mark Zuckerberg, Dan DeFrancesco, Jack Sommers, Jordan Parker Erb, Amanda Yen Organizations: Service, Business, Federal Reserve, Conference Board, Fed, Chelsea, Spotify, Visa, US Justice Department, Prosecutors, Meta Locations: Austin , Texas, New York, London
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA doctor's note may be the best way for a remote employee to avoid their company's return-to-office mandate. "They must be accommodated if they have a disability that requires accommodation, but it's not a choice as to which accommodation," she said. Related storiesReasonable accommodations under the ADA can include modifying a work schedule or workplace setting, as well as moving to remote work. "Let's be clear, why is remote work addressing that disability?"
Persons: , Ron Zambrano, Zambrano, Domenique Camacho Moran, Farrell Fritz, Camacho Moran, it's, Zacchery Belval, Belval Organizations: Service, Trial, Business, National Labor Relations Board, Washington, Electric, BI Locations: California, New York, Connecticut
Though the judge spoke favorably about Ellison, he said that he could not let her off scot-free. "Her physical appearance has been the subject of internet fascination and scrutiny," her lawyer, Anjan Sahni, told the judge at the Tuesday sentencing hearing. Advertisement"She had a crush on him from the beginning," Sahni told the judge in the sentencing hearing. Related stories"I found myself drifting away," Ellison told the judge in her own remarks Tuesday. "Numerous films and TV shows are in production about the downfall of FTX, which will only perpetuate the public scrutiny Ellison has faced to date," prosecutors wrote in a filing ahead of the sentencing hearing.
Persons: , Caroline Ellison —, Sam Bankman, Lewis Kaplan, Ellison, she's, Kaplan, Bankman, scot, FTX, Anjan Sahni, Fried, New York Times —, Jane Street, Sahni Organizations: Service, Bankman, Business, Alameda Research, New York Times, Prosecutors Locations: Manhattan, Bankman
Caroline Ellison was the CEO of Alameda Research, a trading firm launched by Sam Bankman-Fried. She oversaw bets Alameda took with customer funds. She will be sentenced for her role in the fraud case on Tuesday. In August 2022, Ellison became the head of Alameda Research, Bankman-Fried's trading firm that was closely intertwined with his fallen crypto exchange, FTX. By November, as FTX swiftly spiraled into bankruptcy, Ellison began to draw attention for her role in overseeing the risky bets Alameda took with customers' funds.
Persons: Caroline Ellison, Sam Bankman, , Ellison, FTX Organizations: Alameda Research, Alameda, Service, Business
Your boss says the company does not plan to require employees to return to the office. Some workers have filed lawsuits against their companies or charges with the National Labor Relations Board over RTO mandates. AdvertisementBut remote employees who simply argue that returning to the office is an inconvenience to their lifestyle have "zero chance" to fight the RTO mandate with legal action, Zambrano said. AdvertisementHowever, said Camacho Moran, just because an employee has an illness or a disability "does not mean that remote work is the appropriate accommodation." Reasonable accommodations under the ADA can include modifying a work schedule or workplace setting, as well as moving to remote work.
Persons: , Ron Zambrano, Zambrano, Domenique Camacho Moran, Farrell Fritz, Camacho Moran, " Zambrano, it's Organizations: Service, Business, Trial, Amazon, Walmart, National Labor Relations Board Locations: California, Seattle, New York
Prosecutors say the man accused in the apparent assassination attempt of Donald Trump previously wrote a letter. "This was an assassination attempt on Donald Trump but I am so sorry I failed you," the letter read. The letter was found in a box dropped off months prior to the September 15 incident, feds say. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe suspect accused in the apparent assassination attempt of Donald Trump previously wrote a letter confirming his intent to kill the former president, federal prosecutors said in a new court filing on Monday.
Persons: Donald Trump, , Ryan Wesley Routh Organizations: Service, Trump, Business Locations: Palm Beach , Florida
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTop YouTuber MrBeast is being criticized, but he seems to be focusing on a new product launch instead of making statements. Jimmy "MrBeast" Donaldson is the biggest creator on YouTube, with 316 million subscribers. Advertisement"Generally, launching a new product amid controversy can be a very good strategic move since it shows resilience and shifts the overall predominant narrative," Perlova said. Varbanova said it's hard to know how many of Donaldson's 300 million YouTube subscribers are even following the negative news.
Persons: , Jimmy, MrBeast, Donaldson, Logan Paul, Kraft Heinz's Lunchables, Paul, he's, hasn't, Katya Varbanova, Ava Tyson, Tyson, X, Zoya Perlova, Perlova, Varbanova, Donaldson's, Pam Lyddon, it's, Lyddon, Natalie Yorke Organizations: Service, YouTube, Business, The New York Times, Dyninno, Bright Star Locations: Turkey
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWNBA Rising: Inside the season that changed the leagueCaitlin Clark and Angel Reese are helping to fuel a massive surge in the WNBA's popularity. Yet the league is far from profitable and the two superstar rookies make just over $70,000 in base salary. The recent 11-year, $2.2 billion media rights deal with Disney, Amazon and NBC, and the announcement of three new expansion teams in San Francisco, Toronto and Portland, will flush the league with much needed cash in the coming years. The question is, will it be enough?
Persons: Caitlin Clark, Angel Reese Organizations: Disney, NBC Locations: San Francisco, Toronto, Portland
It was an incredible moment, and I felt like everybody had my back.”Now, in his latest series, Leguizamo is playing what he calls a “despicable, hateable character” — and he wants as many people as possible to see it. “The Network (platform) is free, all you have to do is subscribe,” Leguizamo said. “We’re doing a platform for diverse, quality stories, important stories.”“The Green Veil” is an eight-episode drama starring Leguizamo in his first lead role on a dramatic television series. Although Leguizamo describes “The Green Veil” as “historical fiction,” it draws on real-life events. Leguizamo was drawn to “The Green Veil” in part because it is a period piece, and Latinos are usually not included in such projects.
Persons: John Leguizamo, Los Angeles “, , , Marlon Brando, “ Viva, ” Al Pacino, Natalie Wood, ” “, ” Leguizamo, ” John Leguizamo, YouTube Leguizamo, Leguizamo, ” —, Gordon Rogers, “ We’ve, Aram Rappaport, “ It’s, Miss Chi, Chi Rodriguez, Wong Foo, Leguizamo’s Organizations: Peacock, DEI, “ Viva Zapata, YouTube, , Comcast, Network, NBC News, Indian Child Welfare, The Network, PBS, Washington , D.C, MSNBC, Vista Social, Broadway, NBC Locations: Los Angeles, , Hollywood, Toulouse, “ Moulin Rouge, “ Kingdom, Washington ,
A former warden at the facility told Business Insider that Combs can expect to be treated like any of the other 1,200 inmates at the Brooklyn jail. Advertisement"Any time one is being detained at the Metropolitan Detention Center, it's never going to be a picnic," Cameron Lindsay, the retired warden, told BI. Sean "Diddy" Combs is currently being housed at an infamous Brooklyn jail. "Given his status as a celebrity and a rap star, I would believe, of course, that he would be single-celled and isolated under very austere conditions," Cameron Lindsay told BI. Numerous Courts in this district have raised concerns with the horrific conditions of detention there," Combs' lawyers wrote.
Persons: , Sean, Diddy, Combs, Kelly, Sam Bankman, Ghislaine Maxwell —, it's, Cameron Lindsay, Mark Bederow, Lucas Jackson, Bederow, Robyn Tarnofsky, Lindsay Organizations: Service, Federal Bureau of Prisons, Metropolitan Detention, Business, MDC Locations: Los Angeles, Miami, Brooklyn, Manhattan, Beverly Hills
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The ship's owner and manager, the lawsuit says, sent an "ill-prepared crew on an abjectly unseaworthy vessel to navigate the United States' waterways." The lawsuit calls the actions by Grace Ocean Private Ltd, the owner of the vessel, and the ship's operator, Synergy Marine Group, "outrageous, grossly negligent, willful, wanton, and reckless." Darrell Wilson, a spokesperson for Grace Ocean Private Ltd and Synergy Marine Group, told Business Insider in a statement that the legal claim was "anticipated." AdvertisementThe lawsuit is also seeking punitive damages to deter any future "misconduct" by the owner and operator of the Dali.
Persons: , Francis Scott Key, Dali, Grace, Darrell Wilson, Wilson, Merrick Garland, Garland Organizations: Service, Department, DOJ, Business, Grace Ocean Private Ltd, Synergy Marine Group, Grace Ocean Private, Justice Department, Synergy Marine, Private Locations: Singapore, Baltimore, Maryland, United States, Port of Baltimore
This story is available exclusively to Business Insider subscribers. Jason Redmond/AFP/Getty ImagesA good chunk of the executives Darius highlighted aren't involved in OpenAI's tech. Some of OpenAI's most high-profile executives are instead addressing legal challenges and lobbying regulators in the US and abroad. It's a nod to the fact OpenAI's biggest upcoming fights will take place in a courtroom as opposed to a computer screen. Luckily for you, Business Insider has identified the most famous book set in every state.
Persons: , Tyler Le, Sam Altman, Altman, he's, Darius Rafieyan, OpenAI, Darius, it's, Jason Redmond, aren't, It's, Justin Trudeau's, Somodevilla, Warren Buffett, David Einhorn, Chelsea Jia Feng, Amazon's, Natalie Ammari, Harris, Jamie Dimon, Dimon, Harvey Weinstein, world's, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Apple, Getty, OpenAI, BMO Capital Markets, Healthcare, Amazon, Google, Trump, Facebook, Reading, Fed, The Locations: AFP, New York, London
She's also the star of a hit new reality TV series. "The Secret Lives of Mormon Wives," which premiered on Sept. 6, broke streaming records for Hulu, becoming its most-watched unscripted season premiere in 2024 so far. "The exposure, it's a different level," Paul says of reality TV fame. Disney/Natalie CassSubjecting yourself to reality TV editors can be risky — but if it works, it's great for businessPrior to "Mormon Wives," Neeley already had a business of her own: Babymama, a line of natal nutrition gummies. AdvertisementEven when it's chock-full of drama, the show has already been a boon for business, Neeley says.
Persons: TikToker Taylor Frankie Paul, Tate, Olivia Rodrigo's, Dakota Mortensen, She's, Paul, wrangled, swingers, sodas, Pepper, castmate, Neeley, Mortensen, Taylor Frankie Paul, Fred Hayes, , she's, It's, Disney, Natalie Cass, it's, she'd, Whitney Leavitt, I've, Leavitt, we're Organizations: Service, Indy, Business, Hulu, Disney Locations: TikTok, Utah, New York City, New York, Salt Lake City
North Carolina's Research Triangle is one of the fastest-growing areas in the U.S., with a population that's boomed by 5.6% since 2020 to 2.4 million people, according to Census data. The area, also known simply as "The Triangle," is anchored by Raleigh, Durham and Chapel Hill and their major universities: North Carolina State University, Duke University and the University of North Carolina at Chapel Hill. And in that 50 years, North Carolina has totally restructured its economy," said Michael Walden Reynolds, an economics professor at North Carolina State University. The Triangle region has about 4,000 tech and 600 life science companies, and more than 300 companies are headquartered in RTP alone, according to the Research Triangle Regional Partnership and Work In The Triangle. "Companies are seeing the advantages of doing business here," said Ryan Combs, executive director of the Research Triangle Regional Partnership.
Persons: I've, Michael Walden Reynolds, Apple, it's, Ryan Combs Organizations: Chapel Hill, North Carolina State University, Duke University, University of North, RTP, North, Research Triangle Regional, Meta, Novo Nordisk, Google, Apple, Nordisk, CNBC, Business . Locations: U.S, Raleigh, Durham, University of North Carolina, North Carolina, RTP, States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's how North Carolina became one of America's top states to do businessNorth Carolina's Research Triangle, anchored by Raleigh, Durham, and Chapel Hill, has one of the country's fastest growing economies due to its growing tech scene, high access to talent, pro-business environment and low cost of living. Watch the video to learn how this small region in the U.S. is got to where it is today.
Locations: North Carolina, Raleigh, Durham, U.S
Attorneys for the US government and the widely popular social media app faced off on Monday in a federal appeals court as TikTok fights against a law that could soon see the platform banned in the country. Rozenshtein said that he believes the appeals court will rule "decisively" and "comprehensively" against TikTok. AdvertisementTikTok's lawyer argued the law 'imposes extraordinary speech prohibition'In his oral arguments on Monday, TikTok lawyer Andrew Pincus slammed the law as "unprecedented." AdvertisementThe panel of judges, at times, seemed skeptical of TikTok's arguments. After the appeals court issues its ruling, the case could end up before the Supreme Court where Rozenshtein also predicts TikTok will not fare well.
Persons: , Alan Rozenshtein, Rozenshtein, Joe Biden, TikTok's, Biden, haven't, TikTok, Andrew Pincus, Pincus, Daniel Tenny, Sarah Kreps, Kreps, Jaffer Organizations: Service, Appeals, District of Columbia Circuit, TikTok, Business, Justice Department, University of Minnesota Law School, Chinese Communist Party, Justice, Tech, Institute, New York's Cornell University, Columbia University —, Pew Research Center Locations: TikTok's Beijing, ByteDance, China, United States
Insider Today: Fine-dining faux pas
  + stars: | 2024-09-14 | by ( Joi-Marie Mckenzie | ) 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. On the agenda:This story is available exclusively to Business Insider subscribers. Fitness industry consultant Pete McCall told Business Insider evidence shows "building muscle through strength training, as opposed to using cardio to manage weight, has a much greater effect on promoting longevity." A Business Insider reporter decided to test these habits for a week. More of this week's top reads:AdvertisementThe Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York City.
Persons: , Rebecca Zisser, Gabby Landsverk, Hilary Brueck, Pete McCall, Natalia Mehlman Petrzela, Mauro Maietta, Amr Bo Shanab, Wengen Ling, Bon appétit, Terri Peters, Taylor Swift, Kate Green, Kamala Harris, Swift, Natalie Ammari, Alex Garland's, Kirsten Dunst, Max, Dan DeFrancesco, Lisa Ryan, Amanda Yen, Grace Lett Organizations: Service, Business, Crunch Fitness, Hamptons, HBO, Apple, Apple Watch, tote Locations: ellipticals, Manhattan, Florida, America, New York City, New York, Chicago
Read previewTax evasion, insider trading, and money laundering. "There are routine categories of illicit acts that wealthy individuals often endeavor out of sheer greed," Matthew Barhoma, a Los Angeles defense attorney, told Business Insider. Insider trading is 'rampant' among some wealthy circlesAnother common unlawful method that some of the rich use to get richer is insider trading, according to the attorneys. Like insider trading, money laundering — a process used to conceal the source of illegally obtained cash — is another illicit tactic used by some wealthy individuals, according to the defense attorneys. "Having dealt a lot with people who devise these kinds of fraudulent financial transactions, I will say that many of them are absolutely brilliant," said Ressler.
Persons: , Todd, Julie Chrisley, Chrisley, Mike, Matthew Barhoma, Barhoma, Tama Kudman, they've, Mark Ressler, he's, Uncle Sam, Kasowitz Benson Torres, it's, Kudman, Ressler Organizations: Service, Business, United States Treasury Department, Treasury Department, Defense, New Locations: , Los Angeles, Switzerland, Cayman, New York City
New York City’s Noguchi Museum said on Wednesday it fired three employees after they violated its updated dress code by wearing keffiyeh head scarves, which have become an emblem of solidarity with the Palestinian cause. Across the world in protests demanding an end to Israel’s war in Gaza, demonstrators have worn the black-and-white keffiyeh head scarf, saying it identifies with Palestinian self-determination. Israel’s supporters say it is provocative and a sign of backing extremism. Natalie Cappellini, one of the three gallery attendants who was fired, took to Instagram to say the museum leadership was weaponizing the term “political” against the Palestinian cause. A New York City hospital fired a Palestinian American nurse in May after she called Israel’s actions in Gaza a “genocide” during an acceptance speech for an award.
Persons: City’s Noguchi, Israel’s, , Isamu Noguchi —, Natalie Cappellini, Instagram, Yasser Arafat, Israel Organizations: Palestinian, Reuters Locations: Gaza, Palestinian, Japanese American, Vermont, United States, Israel, York City, Palestinian American, South Africa
CNN —Taylor Swift was among the many stars to channel ’90s fashion at the MTV Video Music Awards on Wednesday, wearing a chic taffeta bustier and skirt by Dior. But with its punk-accented stylings, in the form of black buckles, collar and zipped fitted front, Swift’s version is, by far, the edgiest. Quoting its founder Christian Dior, the brand called tartan “the only fancy fabric that resists fashions” in the show notes. The look on Wednesday night was a departure from Swift’s typical red carpet style. Taylor Swift's outfit was hot off the Dior Cruise 2025 runway, staged in Perthshire, Scotland.
Persons: CNN — Taylor Swift, Dior, Cher Horowitz, Alicia Silverstone, Natalie Portman, Blackpink’s Jisoo, Mary , Queen of Scots, Christian Dior, Taylor Swift's, Yannis Vlamos, Swift, Post Malone, “ I’ve, , Kamala Harris Organizations: CNN, MTV, Dior, Post Locations: Paris, Drummond Castle, Perthshire, Scotland
WINDER, Ga. — Many students in Georgia’s Barrow County headed back to class Tuesday, six days after a shooting killed two teachers and two students at the school district’s Apalachee High School northeast of Atlanta. No return date has been set for the 1,900 students at that high school, but the 13,000 students in Barrow County’s other schools did return, including at the middle school and elementary school that border the Apalachee campus in Winder. When her 8-year-old daughter said over the weekend that she was scared to go back to school, Shonderi Williams broke down in her bathroom. She has two daughters Yargo Elementary School and one daughter at Haymon-Morris Middle School, the schools next door. “We know the days ahead are going to be difficult, and that we have some staff and some students who are not ready to return to school,” LeDuff said.
Persons: Shonderi Williams, ” “, ” Williams, , ” Jaime Love, , “ I’m, Love, Cristina Irimie, Mason Schermerhorn, Richard Aspinwall, Christian Angulo, Charlotte Kramon, ” Love, Dallas LeDuff, ” LeDuff, ” Ashley Sanders, they’re, ” Sanders, Irimie, Colt Gray, Brad Smith, Colin Gray, Doug Griffith, Natalie Griffith, “ She’s, ” Doug Griffith, Griffith, Robert Runcie, Runcie, Marjory Stoneman, you’re, Amila Dawson, ” Dawson, Morris Organizations: Apalachee High, Yargo Elementary, Morris Middle School, Associated Press, Apalachee High School, Aspinwall, Church, Authorities, Broward County Public Schools, Marjory Stoneman Douglas High School, AP Locations: WINDER, Ga, Georgia’s Barrow County, Atlanta, Barrow County’s, Apalachee, Winder, Haymon, Winder , Ga, Yargo, , Romanian, GoFundMe, Broward, Florida, Barrow County, Parkland , Florida
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