DIRS.INFO The most relevant business & tech news

☆ China's macro backdrop has investors worried. Here are some stocks that could be safe from any weakness
▼ + stars: | 2023-09-20 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

A lackluster economic backdrop in China shouldn't keep Wall Street from buying opportunities in the world's second-largest economy, some investors say. Consumer growth bets Kirby named Yum China as one quality stock idea. He also expects Yum China could still benefit from a rebound in consumer spending in China. It's a spending category the fund manager doesn't expect will suffer from any weakness in the macro backdrop. Yum China is higher this year by more than 4%.

Persons: Ben Kirby, Kirby, Duke, It's, James Donald, Thornburg's Kirby Organizations: Thornburg Investment Management, KFC, Technology, doesn't, Lazard Investment, Lenovo Locations: China, Beijing, Botox, U.S

☆ China's AI applications are coming — where it matters for monetization
▼ + stars: | 2023-09-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Around the same time, Tencent announced it is integrating its AI model into advertising content creation, and its own Zoom-like video conferencing app. It's also not clear how powerful China's AI applications currently are, beyond demos and select business partnerships. "Overall we see generally Chinese language model[s] still lag behind the most advanced ChatGPT version 4," CLSA's Tony Zhang said in a phone interview in the last week. Now with Beijing's green light, public-facing AI applications such as Baidu's Ernie bot can be widely used in China. Generative AI and large language model-related revenue contributed to 20% of SenseTime' s revenue in the first half of 2023, Nomura analysts said, citing company management.

Persons: Nomura, Tencent, Coffee, Luckin, Joey Wat, It's, Tony Zhang, –, Ernie, Oliver Wyman's David Xie Organizations: Baidu, KFC Locations: Beijing, China, Taobao, TikTok

☆ Yum China says tech investments let it open more stores without needing more staff
▼ + stars: | 2023-09-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Pedestrians walk past a Pizza Hut restaurant and a KFC restaurant, both operated by Yum China, in Beijing, China, on Sept. 5, 2020. Bloomberg | Bloomberg | Getty ImagesBEIJING — Yum China is spending more on tech, an investment that's allowed it to open more stores without having to hire more staff, CEO Joey Wat told CNBC in an interview Friday. Yum China operates KFC and Pizza Hut stores in China, among other brands. With technology, she said staff can be promoted to manage multiple stores and support the opening of new locations. This year alone, the company plans to spend about $700 million to $900 million.

Persons: Joey Wat, Wat Organizations: KFC, Yum, Bloomberg, Getty, CNBC, Yum China, U.S, Companies, Walmart Locations: Yum China, Beijing, China, BEIJING, Yum, Alibaba

☆ A fight between fast-food chains and unions in California is over, for now – what to know
▼ + stars: | 2023-09-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +8 min

Gavin Newsom's office, also creates a nine-person council that will decide on future wage hikes for the fast-food industry in California through 2029. The deal will mean a wage floor of $20 for California workers at fast-food chains with at least 60 locations nationwide, starting April 1. The council will include four representatives from the fast-food industry, four from the workers' side and one neutral party who will serve as chair. But the fast-food industry was attacking the bill before it even made its way to Newsom's desk. Fast-food workers employed by affected restaurants will see pay increases of as much as 25% hit their paychecks starting in April.

Persons: Mario Tama, Gavin Newsom's, Mark Kalinowski, Newsom, Joe Erlinger, Erlinger, Jan, What's, Joe Pawlak, Technomic, they'll, Joe Pawlak Technomic, Pawlak, Mary Kay Henry, it's, Sean Kennedy, Burger Organizations: Getty, Gov, Equity Research, Democrat, FAST, Yum Brands, Restaurant Brands, McDonald's, Citi Research, Service Employees International Union, SEIU, California State, CNBC, Walmart, Target, Food, National Restaurant Association, Delta Airlines, Los Angeles International Airport Locations: Boyle, Los Angeles , California, California, McDonald's U.S, Minnesota, New York, —

☆ From taking orders to cutting avocados, AI is solving the labor shortage problem for fast-food chains
▼ + stars: | 2023-09-14 | by ( Nancy Luna | ) www.businessinsider.com time to read: +8 min

Checkers & Rally'sLast year, Checkers & Rally's became one of the first big chains to implement widespread use of AI-powered voice assistants. Out of the 803 Checkers and Rally's restaurants, voice AI was live in 390 as of August. AdvertisementAdvertisementSoundHound, best known as a music-recognition app, has spent years perfecting its conversational voice AI bots. Sister burger chains Carl's Jr. and Hardee's also announced plans to test Presto's AI voice bots this year. Hardee's and Carl's Jr. are also testing voice AI bots by OpenCity.

Persons: DoorDash, Deloitte, Keyvan Mohajer, it's, Mohajer, Schier, Rally's, Domino's, ConverseNow, SoundHound, SoundHound's Mohajer, Beef, Chippy, Rebecca Harrington, McDonald's, Carl's Jr, Del, Carl's, Hardee's, Presto, Taco, Chris Turner, Turner, Taco Bell Organizations: Service, Chipotle, Industry, National Restaurant Association, Deloitte, Wingstop Tech, Anthony's, Slim, Dialog, Taco Bell, Taco, Yum Brands Locations: White, Wall, Silicon, McDonald's, Texas, California , Texas, Florida, Chicago, Thai, Newport Beach , California, Del Taco, Mexican, Southern California, Taco Bell's

☆ Stocks making the biggest moves premarket: AMC, Etsy, First Solar and more
▼ + stars: | 2023-09-14 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

AMC Entertainment — Shares of the movie theater chain jumped 5% in premarket trading after AMC said it had completed the equity offering it announced earlier this month. The company said it sold 40 million shares at an average price of $8.14, raising about $325.5 million. In the second quarter, the company earned 11 cents a share, after adjustments, exceeding analysts' expectations of 2 cents per share, according to FactSet. Penn Entertainment — The sports betting stock climbed 3% in premarket trading following a short-term buy call from Deutsche Bank. The conglomerate sold about 5.5 million shares of HP, worth around $158 million.

Persons: Wolfe, Semtech, Warren Buffett's Berkshire Hathaway, Shawn Fain, Jim Farley, — CNBC's Michelle Fox, Alex Harring, Yun Li, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: AMC, Wolfe Research, Penn Entertainment, Deutsche Bank, BMO Capital Markets, Exxon Mobil, Chevron, Brent, Occidental Petroleum, HP —, HP, Berkshire, General Motors, Ford —, United Auto Workers, Ford Locations: China, Devon, Omaha

☆ Stocks making the biggest moves midday: Netflix, Etsy, HP, Visa and more
▼ + stars: | 2023-09-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Striking Writers Guild of America members walk the picket line in front of Netflix offices in Los Angeles, July 12, 2023. Check out the companies making headlines in midday trading:Visa — The credit card behemoth's stock was trading more than 2% lower after announcing plans to change its share structure. Netflix — The streaming giant's shares slipped roughly 2% in midday trading after Chief Financial Officer Spencer Neumann said the ongoing Hollywood writers' strike is bad for business. The movie theater chain said it sold 40 million shares at an average price of $8.14, raising about $325.5 million. Etsy — The e-commerce retailer's stock rose nearly 3% after Wolfe Research upgraded Etsy to outperform from a peer perform rating, citing improving consumer spending and margins.

Persons: Semtech, Spencer Neumann, Neumann, Warren, Berkshire Hathaway, —, Samantha Subin, Pia Singh, Alex Harring Organizations: Guild of America, Netflix, Visa, FactSet, Penn Entertainment, Deutsche Bank, Penn, ESPN BET, AMC Entertainment, AMC, Wolfe Research, HP, Exxon Mobil, Chevron —, Exxon, Chevron Locations: Los Angeles, U.S, China

☆ Mercedes-Benz's $100,000 electric SUV is an awesome Tesla rival — but its blob-like looks aren't for everyone
▼ + stars: | 2023-09-13 | by ( Tim Levin | ) www.businessinsider.com time to read: +6 min

I drove Mercedes-Benz's new electric SUV: the EQE SUV. The 2023 Mercedes-Benz EQE 500 4MATIC SUV. The 2023 Mercedes-Benz EQE 500 4MATIC SUV. The 2023 Mercedes-Benz EQE 500 4MATIC SUV. AdvertisementAdvertisementThe 2023 Mercedes-Benz EQE 500 4MATIC SUV.

Persons: Mercedes, Tim Levin, I'm, anyone's, Elon Musk's, Tesla, iX, fanny, that's Organizations: Mercedes, Service, Benz, Subaru, BMW, Tesla's, EV Locations: Wall, Silicon, Stuttgart, Elon

But as it turns out, I was just not using my imagination, because this year’s Burning Man was an absolute nightmare. casey newtonA bit more of a Drowning Man than a Burning Man, I have to say. kevin rooseYeah, so as someone who’s been to Burning Man, I was fascinated by just the logistics of it all, because it is already a mess to get in and out of Burning Man. kevin rooseSo you are, in addition to a Burning Man escapee this year, you’ve been actually going to Burning Man for a long time. When I say I don’t know what happened, I don’t know what happened to prompt the things that were being directed at us.

Persons: casey newton, kevin roose, I’ve, KEVIN, casey newton It’s, you’ve, it’s, I’ll, casey newton What’s, kevin roose Bluetooth, Kevin Roose, ” casey newton, Casey Newton, Jonathan Greenblatt, Elon, Kevin, casey newton Oh, casey newton You, “ shay, denfreude, kevin roose Schadenfreude, shay, who’s, It’s — casey newton, casey newton That’s, Smart, casey newton Ugh, kevin roose —, casey newton Right, — casey newton, kevin roose What’s, casey newton Sure, ” casey newton Never, Adrian Aoun, He’s, ” adrian aoun, adrian aoun, Larry Page, Adrian, I’m, casey newton Amen, here’s, you’d, we’ve, you’re, Larry, roose, Max, Harry Potter, adrian aoun I’m, they’re, adrian aoun —, —, Rice Krispie, kevin roose Wow, let’s, adrian aoun Oh, adrian aoun She’s, She’s —, We’re, wrenches, hitchhike, I, Gerlach, kevin roose She’s, Y, It’s, They’re, — you’re, casey newton We’re, it’s Elon Musk, Elon Musk, Mark Zuckerberg, Donald Trump, West, kevin roose It’s, Casey, casey newton Well, Linda Yaccarino, Jonathan, kevin roose Jonathan, ” jonathan greenblatt, jonathan greenblatt, CHUCKLES, I’d, Linda, kevin roose You, Nick Fuentes, haven’t, Kevin —, that’s, what’s, we’re, casey newton I’ve, jonathan greenblatt I’m, We’ve, — what’s, Here’s, That’s, John, “, ”, CASEY, kevin roose Totally, Hank Green, Hank, ” Hank, hank, It’s Hank, Ben Shapiro, kevin roose Hank, Diana Dionisio, Diana, Snapchat, Jay Hepler, Jay, ” Casey, don’t, casey newton Really, casey newton I’m, Holly Godfrey, Holly, Kevin Scott, Kevin Scott’s, Bing, Rachel Cohn, Jen Poyant, Caitlin Love, Chris Wood, Dan Powell, Elisheba Ittoop, Marion Lozano, Paula Szuchman, Tam, Nell Gallogly, Kate LoPresti, Jeffrey Miranda, CASEY CHUCKLES Organizations: The New York Times, Defamation League, porta, Electric, Google, Labs, Black Rock, casey newton Fair, Burning, Reno, Defamation, Elon, Labor, Twitter, Center, ADL, Nazi, Anti, Twitter’s Trust, Safety, OG, YouTube, Cato Institute, US, Microsoft, Kevins, Davis Locations: Nevada, La Habra , California, Spanish, East, Iraq, Coachella, Bay, Solano County, Toronto, San Francisco, Silicon Valley, Hogwarts, playa, Haiti, Dunkirk, ”, Gerlach, LA, New York, Reno, it’s Reno, America, Florida, chemo, Tokyo, That’s, hardfork@nytimes.com

☆ UBS says this is how to play China right now — and shares its top stock picks
▼ + stars: | 2023-08-31 | by ( Lucy Handley | ) www.cnbc.com time to read: +4 min

Analysts at UBS have detailed how to play a volatile Chinese market in the short term. Chinese internet giant Alibaba is on UBS' list, with the bank expecting it to grow faster than the overall Chinese stock market. "Potential stock price catalysts include growth from the cloud business, overseas expansion and greater operational discipline," the analysts wrote. Insurers with full pension licenses, such as Ping An, will likely enjoy a first mover advantage," the analysts wrote. Consumer stocks In consumer stocks, UBS likes Topsports International , which is Adidas ' largest retail partner globally, the bank said.

Persons: Gina Raimondo, — CNBC's Michael Bloom Organizations: UBS, Baidu, Ping An Insurance, Consumer, Topsports, Adidas, Shenzhou, Nike, KFC, China Longyuan Power, China Resources Power Locations: Asia, China

☆ Look beyond the 'Magnificent Seven' tech stocks, analyst says — and names 5 top picks
▼ + stars: | 2023-08-31 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

When it comes to picking stocks, Hannah Gooch-Peters of asset management firm Sanlam Investments UK avoids chasing trends. She said she believes investors need to look beyond the "Magnificent Seven," referring to Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla — tech stocks that have made massive gains this year. Sanlam's $5 billion-plus Global High Quality Fund invests in global stocks with a "high quality bias." The companies her firm picks have rather low capital expenditure as a percentage of their sales, she said. It also has a "mortgage-signing technology service which is "really, really exciting," she said.

Persons: Hannah Gooch, Peters, Gooch, We're, it's, you've, That's Organizations: Sanlam Investments, Apple, Microsoft, Nvidia, Tesla, CNBC, Quality Fund, Peters . Services, Yum Brands, KFC, Taco Bell, Intuit, SAP, Intercontinental Exchange, Samsung Electronics

The logo of U.S. fast food group Burger King is seen at a restaurant in Bruettisellen, Switzerland October 11, 2016. U.S. District Judge Roy Altman in Miami said Burger King must defend against a claim that its depiction of Whoppers on in-store menu boards mislead reasonable customers, amounting to a breach of contract. He dismissed claims based on TV and online ads, finding none in which Burger King promised a burger "size," or patty weight, and failed to deliver it. Burger King and its lawyers did not immediately respond to requests for comment on Tuesday. The case is Coleman et al v Burger King Corp, U.S. District Court, Southern District of Florida, No.

Persons: Burger, Arnd, Roy Altman, Burger King, Altman, Taco Bell, Coleman, Jonathan Stempel, David Holmes Organizations: REUTERS, Restaurant Brands, Yum Brands, Burger King Corp, Court, Southern District of, Thomson Locations: Bruettisellen, Switzerland, U.S, Miami, Burger, Brooklyn , New York, Brooklyn, Southern District, Southern District of Florida, New York

☆ Colleen Hoover is the hottest author in America. She also may be the most controversial
▼ + stars: | 2023-08-27 | by ( Aj Willingham | ) edition.cnn.com time to read: +13 min

“Colleen Hoover books always leave me speechless and in tears,” one TikTok reader said. However, Hoover’s work, she says, blurs that line with the addition of painful – and decidedly non-aspirational – narrative arcs. She pointed out what she saw as a pattern in Hoover’s books of women who endure disturbing behavior from their partners. Probably not.”Blake Lively and Justin Baldoni are set to star in the movie adaptation of Colleen Hoover's book "It Ends With Us." Hoover’s books are cloaked in bright, fashionable colors, and her author website offers boutique-style merchandise with flowers and calligraphy and inside jokes from her books.

Persons: doesn’t, Colleen Hoover, Hoover, ”, Blake Lively, Stephen King, It’s, “ Colleen Hoover, Lily Bloom, Atlas Corrigan, Ryle Kincaid, Lily, Ryle, –, influencer Whitney Atkinson, Atkinson, Colleen Hoover's, AJ Willingham, CNN Atkinson, ” Atkinson, “, ” Hoover, “ I’ve, Jenna Bush Hager, ” Amanda Diehl, Smart, “ I’m, Jennifer Prokop, ” Blake Lively, Justin Baldoni, Critics, ” Prokop, — that’s, problematically, Chick, ” Diehl, Diehl, that’s, it’s Organizations: CNN, New York Times, Trade, YouTube, ” CNN, “ Trade Locations: Texas

☆ Factbox: Subway to sell itself to Roark Capital
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Thomas White/Illustration/File Photo Acquire Licensing RightsAug 24 (Reuters) - Roark Capital snapped up Subway in a $9.55 billion deal, sources said on Thursday, after it outbid several private-equity groups. The pair then started franchising Subway restaurants, with the first outlet outside of Connecticut being opened in Massachusetts a year later. For 2022, Subway posted a 9.2% year-over-year increase in same-store sales, thanks to its "Subway Series" menu - a lineup of 12 new signature sandwiches. In March, Goldman Sachs' (GS.N) asset management arm, PE firms Bain Capital, TPG, TDR Capital, Advent International and Roark Capital emerged among the list of suitors for the sandwich chain. Reuters reported earlier this week, citing sources that Roark Capital was in the lead to acquire the chain for well over $9 billion after attaching conditions to some of the windfall the two families that own it would get.

Persons: Thomas White, Roark Capital, Fred DeLuca, Peter Buck, DeLuca, Buck, Arby's, Quiznos, Burger, Jared Fogle, Chidsey, John Chidsey, Morgan, Goldman Sachs, Roark, Deborah Sophia, Granth Vanaik, Varun, Anil D'Silva Organizations: REUTERS, Subway, KFC, Bain Capital, TPG, TDR, Advent International, Roark Capital, Reuters, Thomson Locations: Bridgeport , Connecticut, Connecticut, Massachusetts, Bahrain, Subway, United States, Burger, U.S, North America, Bengaluru

☆ CNBC Pro Talks: This analyst is betting on 'high quality' stocks instead of chasing trends
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: +2 min

They will discuss companies outside the U.S. showing growth prospects that are "far larger over time" than that of some mega-caps, historically. That includes being able to avoid chasing trends, not overpaying for quality companies, and much more. She will discuss the firm's $5 billion-plus Global High Quality Fund, which invests in global stocks with a "high quality bias." Join CNBC Pro Talks on Wednesday, August 23, at 12 p.m. BST / 7:00 p.m. SGT / 7:00 a.m. Here's where he's investing Related coverage from Pro: Here are 7 beaten-up global stocks that analysts expect will double Annuities, stocks or Treasurys?

Persons: Hannah Gooch, Peters, Gooch, Guy Spier, Buffett Organizations: Sanlam Investments, Quality Fund, Yum Brands, Nvidia, Bank of America Locations: U.S, Downside

☆ Inside Otter University: How Travis Kalanick's sales boot camp for young techies went off the rails
▼ + stars: | 2023-08-17 | by ( Meghan Morris | Darius Rafieyan | ) www.businessinsider.com time to read: +21 min

"It seemed like a cool, innovative new company," Lam said. Starting in early 2022, the company poured millions of dollars into an experimental sales boot camp called Otter University. She joined the company in 2020 as Otter's head of sales enablement and helped dream up the idea of a sales boot camp a year later. Two former OtterU employees said that Law and another Otter executive urged managers to join their teams for late-night drinks following team dinners. But the late nights and free-flowing alcohol struck some OtterU employees as inappropriate for the workplace, especially when managers had to deal with hungover teams the next day.

Persons: Brian Lam, messaged, Travis, Lam, Uber, It's, Kalanick, voraciously, they're, Otter, wasn't, salespeople, Cory Epstein, Phoebe Law, Law, people's, –, Kalanick's Uber, Otter's, Kate, Samul Beal, I'd, Beal, didn't, terminations, he'd, OtterU, I'm, grads, Salespeople, Guido Gabrielli, Keith Dunphy, Dunphy, Bram van Staalduinen, Phoebe Law's, Debra Glaser, Jen Zablotny, there's, Ordermark, Burger, Meghan, Darius Organizations: Texas, Otter, Storage Systems, Microsoft, Otter University, Law, Adobe, SAP, Houston, OtterU, hungover, NCR, Google, Brands, Houston Rockets Locations: Korean, Houston, Toronto, LA, Las Vegas, Miami, Seoul, South Korea, Houston ., OtterU, Otter, Canada

☆ Yum Brands CFO Has a Plan for 100% Digital Transactions
▼ + stars: | 2023-08-16 | by ( Mark Maurer | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/yum-brands-cfo-has-a-plan-for-100-digital-transactions-2e8fcbe1

Persons: Dow Jones

But there are new good deals all the time, you just have to go out to find them." That's what deflation looks like in China. As witnessed by Japan in the 1990s, deflation - if prolonged - can weigh on economic growth. "Good deals are needed to get consumers through the door so there is a lot of pressure on these businesses to find margins," said Ben Cavender, managing director at China Market Research Group in Shanghai. Restaurant worker Dong went to a wet market in central Beijing around lunchtime on Thursday, but did not buy anything.

Persons: Gao Yi, Ben Cavender, Zhu Danpeng, Joey Wat, Dong, Sophie Yu, Marius Zaharia, Sam Holmes Organizations: China Market Research Group, Guangdong Provincial Food Safety, Alliance, HK, KFC, Reuters, Thomson Locations: BEIJING, Beijing, China, Japan, Shanghai, Guangdong

☆ Bubble tea will test limits of China’s consumers
▼ + stars: | 2023-08-08 | by ( Thomas Shum | ) www.reuters.com time to read: +3 min

HONG KONG, Aug 8 (Reuters Breakingviews) - Bubble tea may be the new bellwether for the Chinese consumer. At least half a dozen boba-drink makers, including China’s largest chain by store count, Mixue Bingcheng, are planning initial public offerings in Hong Kong or the United States, Bloomberg reports. Shares in Hong Kong-listed Nayuki (2150.HK), the country’s only publicly traded bubble tea chain, have dropped 70% since their debut in 2021. Follow @t__shum on TwitterCONTEXT NEWSAt least six bubble tea companies are looking to go public in either Hong Kong or the United States, Bloomberg reported on July 24 citing people familiar with the matter. In 2022, China’s biggest bubble tea chain by store count, Mixue Bingcheng, filed for a $918 million initial public offering in Shenzhen.

Persons: Mixue, Gen, Mixue Bingcheng, Robyn Mak, Katrina Hamlin, Pranav Kiran Organizations: Reuters, Bloomberg, HK, KFC, Haidilao, Refinitiv, Thomson Locations: HONG KONG, Hong Kong, United States, Beijing, China, Shenzhen

☆ Yum Brands gets a lift as KFC's cheaper options draw more customers
▼ + stars: | 2023-08-03 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Quarterly comparable sales at KFC jumped 13% and topped estimates for an 8.29% growth, as options like the 2-for-$5 fried chicken wrap and launches including chicken nuggets pulled in lower-income consumers struggling with high food prices. [1/2]A Kentucky Fried Chicken (KFC) bucket of mixed fried and grilled chicken is seen in this picture illustration taken April 6, 2017. Yum Brands' revenue rose 3% to $1.69 billion but fell short of estimates of $1.75 billion, largely due to weaker-than-expected sales at Taco Bell and Pizza Hut. Excluding items, Yum Brands earned $1.41 per share, above estimates of $1.24. Reporting by Deborah Sophia in Bengaluru; Editing by Shinjini Ganguli and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Taco, David Gibbs, Edward Jones, Brian Yarbrough, Carlo Allegri, Chris Turner, Deborah Sophia, Shinjini Ganguli Organizations: KFC, Taco Bell, Pizza, Yum Brands, Wednesday, REUTERS, Thomson Locations: Pizza, U.S, Kentucky, Russia, Ukraine, Bengaluru

☆ Morning Bid: Triple-A headache
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +4 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. On Tuesday, Fitch became the second major agency, after Standard & Poor's in 2011, to strip the United States of its prized triple-A credit rating. Jefferies notes that, with two of the three major agencies listing U.S. debt at AA, U.S. bonds no longer count as AAA in some key indices. However, according to Jefferies, most investors have moved away from some of the stricter criteria around holding triple-A rated debt, given Germany is the only large issuer left with that rating. Chart shows that the U.S.'s long-term foreign currency rating was downgraded by Fitch to AA+ in 2023, following a similar move from S&P in 2011.

Persons: Rick Wilking, Amanda Cooper, Fitch, Jefferies, it's, Dupont Nemours, Kraft, Phillips, Ingersoll Rand, John Stonestreet Organizations: REUTERS, Standard, Capitol, Investors, Treasury, Moody's, Moody's Investors Service, U.S ., U.S, AA, AAA, CVS Health, Entergy, Kraft Heinz, Garmin, Brands, Bunge Ltd, Lincoln National, Occidental Petroleum, ETSY, Cognizant Technology Solutions, Atmos Energy, Equinix, Qualcomm, MGM Resorts, MetLife, Fitch, Reuters Graphics U.S, Thomson, Reuters Locations: Westminster , Colorado, U.S, United States, Aaa, Germany, Exelon, Albemarle, Occidental, Clorox

☆ Major global firms warn of slow China sales as post-pandemic surge fades
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +4 min

Aug 2 (Reuters) - From consumer goods giant Unilever (ULVR.L) to automaker Nissan (7201.T) and machinery maker Caterpillar (CAT.N), global firms have warned of slowing earnings in China as the world's second-largest economy loses its post-pandemic bounce. A continued rebound has been limited to a handful of sectors such as dining and luxury goods, driving double-digit China sales growth for the likes of Starbucks (SBUX.O) and LVMH (LVMH.PA). Volkswagen (VOWG_p.DE) cut its full-year sales target last week due to a sales dip in China, its top market. "Unfortunately, our (China) sales outlook is now falling far below our production capacity," Nissan CEO Makoto Uchida said last week. "We mentioned during our last earnings call that we expected sales in China to be below the typical 5% to 10% of our enterprise sales.

Persons: Graeme Pitkethly, we're, Makoto Uchida, Jim Umpleby, Jacob Stausholm, Louis Vuitton, Tiffany, Jean, Jacques Guiony, Mimosa Spencer, Sophie Yu, Brenda Goh, Richa Naidu, Melanie Burton, Daniel Leussink, Victoria Waldersee, Miranda Murray, Rishav Chatterjee, Deborah Sophia, Ananya Mariam Rajesh, Yuvraj Malik, Miyoung Kim, Christopher Cushing Organizations: Unilever, Nissan, Caterpillar, Starbucks, Procter, Gamble, L'Oreal, Global, Volkswagen, Samsung, SK Hynix, Apple, Rio Tinto, Tinto, Yum, HK, KFC, Kailyn, Thomson Locations: China, KS, Rio, Yum China, Kailyn Rhone, New York, Paris, Beijing, Shanghai, London, Melbourne, Tokyo, Victoria, Berlin, Bengaluru

☆ KFC is getting an unexpected boost from Trevor Noah's love of breakfast chicken
▼ + stars: | 2023-08-02 | by ( Grace Mayer | ) www.businessinsider.com time to read: +2 min

KFC's "eat fried chicken for breakfast" campaign with Trevor Noah seems to be boosting sales. The campaign, which was launched in South Africa, has lead to strong sales growth, as noted in Yum Brand's earnings call Wednesday. KFC same store sales rose 13%, adding a huge boost to Yum Brands' overall sales. Yum Brand's, which owns KFC, attributed strong sales in South Africa to a chicken campaign with comedian Trevor Noah during the company's earnings call on Wednesday. The brand recently launched chicken nuggets to expand the brand's off-the-bone offerings.

Persons: Trevor Noah, Noah, Bell Organizations: KFC, Yum Brands, Service Locations: South Africa, Wall, Silicon, China, East

☆ Earnings have been coming in better than expected, says Hightower Advisors' Stephanie Link
▼ + stars: | 2023-08-02 | 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 EmailEarnings have been coming in better than expected, says Hightower Advisors' Stephanie LinkStephanie Link, Hightower Advisors portfolio manager, joins 'Squawk Box' to discuss Fitch's downgrade of U.S. credit rating, the latest slate of earnings results from companies including Starbucks, Yum! Brands, CVS, and more.

Persons: Hightower, Stephanie Link Stephanie Link Organizations: Hightower Advisors, Starbucks, Brands, CVS

☆ Yum Brands beats quarterly results estimates on KFC boost
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Kentucky Fried Chicken (KFC) bucket of mixed fried and grilled chicken is seen in this picture illustration taken April 6, 2017. REUTERS/Carlo Allegri/Illustration/File PhotoAug 2 (Reuters) - Yum Brands (YUM.N) topped market estimates for quarterly results on Wednesday, as cheaper meals and promotional offers at its KFC restaurants boosted demand and overshadowed lackluster traffic at Taco Bell and Pizza Hut. Quarterly comparable sales at KFC rose 13%, handily beating estimates of 8.29%, and logging the best same-store sales growth in at least seven quarters. Same-store sales at Yum Brands rose 9% in the quarter ended June 30, compared with analysts' estimates of a 7.01% increase, according to Refinitiv IBES data. Excluding items, Yum Brands earned $1.41 per share, above estimates of $1.24 per share.

Persons: Carlo Allegri, Taco Bell's, Deborah Sophia, Shinjini Organizations: REUTERS, Yum Brands, KFC, Taco Bell, Brands, Thomson Locations: Kentucky, Louisville , Kentucky, Russia, Ukraine, Bengaluru

Search resuls for: "yum"

25 mentions found