It’s a fashion faux pas. The British version of the smart magazine Vogue is being hammered in court in public opinion after sending a letter of resignation to the owner of the Star Inn at Vogue, located in the rural village of Vogue, England. “We are concerned that the name you are using will cause … Read more
Text size Howard Schultz has halted Starbucks’ repurchase of its shares. Getty Images Howard Schultz, now on his third stay as Starbucks ‘top manager, has just bought millions of dollars of the coffee chain’s shares on the open market. Starbucks (ticker: SBUX) stands at a crossroads. Momentum is gathering for union at its locations. The … Read more
Text size Maranie Staab / Bloomberg Shares of Dutch Bros were plunging Thursday after the coffee chain lowered its forecast for adjusted Ebitda in 2022. Dutch Bros (ticker: BROS) said it expects adjusted Ebitda, or earnings before interest, taxes, depreciation, and amortization, of at least $ 90 million, down from its previous forecast of $ … Read more
Text size PepsiCo stock yields 2.7%. Joe Raedle / Getty Images Baxter International , Devon Energy , spirit PepsiCo were among the large US companies that announced dividend increases this week. In addition, lodging companies Marriott International (MAR) and Hilton Worldwide Holdings (HLT) both said they plan to reinstate their quarterly dividends following suspensions earlier … Read more
Text size Short-term rental company Airbnb says demand for travel in the fourth quarter is above historical levels. Dreamstime Airbnb reported a slimmer-than-expected net loss and higher revenue than expected for its first quarter, saying it sees substantial demand for travel ahead of the summer. The short-term rental company (ticker: ABNB) reported a net loss … Read more
We’re a day away from what could be the first half-point hike from the Federal Reserve in 22 years. Kicking a busy central bank week was the first rate increase since 2010 from Down Under. So where next for stocks? In our call of the dayRBC Capital Markets equity analysts Lori Calvasina and Sara Mahaffy … Read more
Text size Tesla Model 3 cars Jade Gao / AFP via Getty Images One of the largest US public pensions made material changes in its largest investments. State Teachers Retirement System of Ohio increased investments in Tesla (ticker: TSLA), Pfizer (PFE), and Starbucks (SBUX), and cut its holdings in Nike (NKE) stock in the first … Read more
New York nightlife is hitting a high note. The piano bar is having a moment, with musicians tickling the keys to provide a seductive soundtrack for sipping classic cocktails and nibbling on caviar and potato chips. “The city is experiencing a golden age of nightlife and everything that’s old becomes new again,” Jason Kaplan, a … Read more
Text size A McDonald’s McPlant Beyond Meat burger. Justin Sullivan / Getty Images Beyond Meat stock jumped on Wednesday, following reports that its McPlant partnership with restaurant behemoth McDonald’s may be permanent. That could be a catalyst for the plant-based protein maker as its retail sales continue to lag, but McDonald’s says its position has … Read more
This could put a real dent in the fake ID market. The New York State Senate is moving forward with proposed legislation that would allow bars and restaurants to use facial recognition or fingerprint scanners to verify someone’s age before they buy alcohol, tobacco or electronic cigarettes. “This is the new frontier of age verification,” … Read more