Starbucks has recently made a bold move by appointing Brian Niccol, the former CEO of Chipotle Mexican Grill, as the new CEO and Chair. This decision has been accompanied by a significant increase in Niccol’s compensation package to entice him to join the embattled coffee chain. Starbucks has disclosed that the majority of Niccol’s pay
Brinker International saw its stock take a hit of around 12% following a weaker-than-expected profit forecast for the full year. The Chili’s parent company also reported disappointing fiscal fourth-quarter earnings, with adjusted earnings per share falling below the StreetAccount consensus estimate. Looking ahead, Brinker anticipates earnings per share for fiscal 2025 to be between $4.35
Recently, U.S. District Judge Reed O’Connor recused himself from overseeing X’s lawsuit against advertisers after it was revealed that he owned shares of Tesla. The judge made this decision on August 13th, leaving the case against the World Federation of Advertisers filed by X, formerly known as Twitter, in limbo. The reasons behind O’Connor’s recusal
Chipotle stock plunged by 10% on Tuesday following the announcement that CEO Brian Niccol would be stepping down from his position to assume the role of CEO at Starbucks. The stock ended the day down 7%, reflecting investor concerns about the leadership transition. Niccol had been with Chipotle since March 2018 and oversaw an impressive
The Brazilian real has been facing accelerated weakening in recent times, with a nearly 12% depreciation against the U.S. dollar this year. Central bank chief Roberto Campos Neto attributes this depreciation to specific Brazil-related factors and heightened risk perceptions. Despite this, there has been some relief in the real’s value following the central bank’s indication
In recent times, South Korea’s mom-and-pop investors have shown remarkable resilience in the face of the global financial markets rout. Despite the turbulent conditions, they have continued to pour more funds into U.S. stocks, deviating from the traditional approach of focusing solely on the domestic market. This trend has been ongoing for several years and
A New York State Supreme Court judge has set an auction date for properties owned by Charles Cohen’s Cohen Realty Enterprises. The properties include the U.S. Landmark and UK Curzon arthouse cinema chains that Cohen acquired in 2018 and 2019. The auction date was set due to a lawsuit filed by Fortress Credit Corp. against
Australia’s corporate regulator, ASIC, has filed a lawsuit against the Australian stock exchange operator, ASX Ltd, for allegedly making deceptive statements regarding the timeline for the replacement of its trading platform, Clearing House Electronic Subregister System (CHESS). ASIC claimed that ASX’s statements about the progress of the CHESS replacement project were misleading and deceptive, as
In a recent notice of violation, Elon Musk’s SpaceX has been found to repeatedly release pollutants into or near bodies of water in Texas. This notice, issued by the Texas Commission on Environmental Quality (TCEQ), specifically focuses on the company’s water deluge system at its Starbase launch facility. This violation follows a previous notice from
The currency markets were in a state of uncertainty as investors held their breath, waiting to see how U.S. economic data would affect the possibility of significant rate cuts. The dollar was hovering around 147.17 yen, showing slight volatility after reaching a one-week high of 148.23 yen. Meanwhile, the euro was at $1.0931, inching closer