For months, economists have predicted that consumers would cut back on spending in response to higher prices and interest rates. But it has taken a while for fast-food chains to see their sales actually shrink, despite several quarters of warnings to investors that low-income consumers were weakening and other diners were trading down from pricier options.Many restaurant companies also offered other reasons for their weak results this quarter. Starbucks said bad weather dragged down same-store sales. Yum Brands, the parent company of Pizza Hut, KFC and Taco Bell, blamed January’s blizzards and tough comparisons for a strong first quarter last…
Author: Surbhi Jain
After believing for the past eight months that a demon was responsible for the strange noises coming from the wall near her closet, a North Carolina girl finally found out what all the buzz was about.The little girl’s mother, Ashley Klaas, told NBC News this week that she called beekeeper Curtis Collins after noticing bees in the attic of her century-old farmhouse. Using a thermal camera in a 3-year-old’s room a few weeks ago, Collins uncovered a hive of bees weighing more than 100 pounds.”I kid you not, it was lit up like Christmas in the wall right next to…
Unlock Editor’s Digest for freeFT editor Roula Khalaf selects her favorite stories in this weekly newspaper.Johnson & Johnson, in its latest attempt to draw a line under long-running litigation, has offered an improved $6.5 billion settlement to thousands of plaintiffs claiming that its talcum powder products cause ovarian cancer. .The world’s largest drugmaker by revenue said in an update on Wednesday that it would introduce the plan, which would pay out about $6.48 billion over the next 25 years, to more than 50,000 ovarian cancer patients later this year. Voting will be done by the claimants. If 75 percent of…
Arx0nt/Moment RF/Getty Images Gibson Farms has recalled organic walnuts linked to an E. coli outbreak. CNN — The U.S. Centers for Disease Control and Prevention issued a warning Tuesday about a multistate E. coli outbreak linked to walnuts. Twelve people from two states have been sickened by this particular strain of bacteria. Seven people became so ill that they had to be hospitalized. Two people have developed hemolytic uremic syndrome, a form of kidney failure. There have been no deaths associated with the outbreak. A CDC study found that nearly everyone who got sick reported buying organic walnuts from the…
Sign up to our breaking news email for free real-time breaking news alerts delivered straight to your inboxSign up for our free breaking news emailsIt’s always sunny in Philadelphia Creator Rob McElhenney has hit back at Jerry Seinfeld’s suggestion that sitcoms have lost their edge with a reference to a word from his own show.70-year-old Seinfeld made headlines this week by claiming in an interview that the new Yorker That “far left (and) PC (politically correct) nonsense and people who care so much about hurting other people” are responsible for the “death” of television comedy.comedian, whose show seinfeld Ran from…
(Bloomberg) — Johnson & Johnson will ask thousands of people suing over its allegedly tainted baby powder to vote for a settlement that would resolve all lawsuits for $11 billion — more than the amount the company paid last year. That’s $2.1 billion more than the offering.Most read from BloombergIn a news release Wednesday, J&J urged those who blame the talc-based powder for ovarian cancer to support a third bankruptcy filing aimed at dismissing all existing and future legal claims. Two earlier attempts to use Chapter 11 to broker such a deal failed because plaintiffs demanded larger payouts.This time, the…
cnn , Tank Dale, a wide receiver for the NFL’s Houston Texans, was injured in a shooting in Sanford, Florida on Sunday that left 10 people injured. Dell, 24, is in good spirits after suffering a minor injury in the shooting, the team said in a statement. statement Posted on X. He has since been discharged from the hospital. “We are in touch with him and his family and will provide further updates when appropriate, but we ask that you please respect their privacy at this time,” the statement said. “Our thoughts and prayers are with everyone involved in the…
A closely watched wage growth gauge hit its highest level in a year during the first quarter, raising concerns that sticky inflation may be widespread and prompt the Federal Reserve to keep interest rates steady for longer than initially hoped.New data released Tuesday from the Bureau of Labor Statistics showed that compensation costs rose 1.2% in the first quarter, above the previous quarter’s 1% increase and higher than the 0.9% economists had expected, according to Bloomberg data.Capital Economics chief North America economist Paul Ashworth said Tuesday’s data showed wage growth is also “sticky,” not just recent inflation data that has…
King Charles gives Kate Middleton a new title.Kate Middleton, Princess of Wales, revealed in March that she had been diagnosed with cancer. The princess said that she is currently undergoing preventive chemotherapy. In a video message released by Kensington Palace on X (formerly Twitter), Kate Middleton said she is in the “early stages of that treatment.” Meanwhile, Prince William has now shared an update on his wife’s health I! Online,A man in the crowd inquires about Ms Middleton and her three children, Prince George, 10, Princess Charlotte, 8, and Prince Louis, 6, during the Prince of Wales’ appearance at the…
A Pizza Hut store is seen in Austin, Texas on November 01, 2023.Brandon Bell | getty imagesHere’s how the company reported compared to Wall Street’s expectations, based on a survey of LSEG analysts:Earnings per share: $1.15 adjusted vs. $1.20 expectedRevenue: $1.6 billion vs. $1.71 billion expectedYum reported first-quarter net income of $314 million, or $1.10 per share, up from $300 million, or $1.05 per share, a year earlier.Excluding investment losses and other items, the company earned $1.15 per share.gross sales Fell 3% to $1.6 billion. Yum’s global same-store sales also fell 3% in the quarter, missing StreetAccount’s estimate of 0.2%…