Beyond Meat suspends operating chief Doug Ramsey after arrest for alleged nose biting

Beyond Meat said its operating chief Doug Ramsey has been suspended, effective immediately, after he was arrested Saturday evening for allegedly punching a man and biting his nose. The company said in a statement on Tuesday afternoon that Jonathan Nelson, the company’s senior vice president of manufacturing operations, will oversee Beyond’s operations activities on an … Read more

Starbucks to unveil ‘reinvention’ strategy at investor day on Tuesday

CEO of Starbucks Howard Schultz in New York City. Steven Ferdman | Getty Images Starbucks is expected to unveil a reinvention plan Tuesday as the coffee giant grapples with changing consumer behavior, outdated store designs and a union push in the U.S. The strategy is the brainchild of outgoing interim CEO Howard Schultz, who returned … Read more

Starbucks Names Laxman Narasimhan New CEO

Starbucks named as its new CEO consumer products executive Laxman Narasimhan, months after former head Howard Schultz temporarily took over to steer the coffee giant through rising costs, a unionization push and challenges overseas. Mr. Narasimhan, 55 years old, has served as chief executive of the maker of Lysol and Enfamil baby formula, U.K.-based Reckitt … Read more

Panera Bread tests artificial intelligence technology in drive-thru lanes

A Panera Bread location in Spring Hill, Florida. Jeff Greenberg | Universal Images Group | Getty Images Starting Monday, drive-thru customers at two Panera Bread locations in upstate New York will have their orders taken by a computer in a test of artificial intelligence technology’s accuracy and ability to decrease service times. The sandwich chain … Read more

Mystery New Jersey deli closes, Makamer Holdings says in SEC filing

Hometown Deli, Paulsboro, N.J. Mike Calia | CNBC The small, money-losing New Jersey deli that was once the sole asset of a publicly traded company with a bizarre market capitalization of $100 million has been sold and closed, according to a regulatory filing. Your Hometown Deli in Paulsboro, New Jersey, had been “temporarily closed” on … Read more

Starbucks operating chief to depart as coffee chain eliminates role under ‘reinvention’

Starbucks Chief Operating Officer John Culver is departing the company after two decades with the coffee chain, as part of a restructuring that will eliminate his role. His exit comes in the middle of a broader executive reshuffling at Starbucks. Former CEO Kevin Johnson retired earlier this year, leading Howard Schultz to return to the … Read more

Robot cooks are rapidly making their way into restaurant kitchens

A White Castle team member next to Miso Robotics’ Flippy. Courtesy: Miso Robotics Before the end of this year, a brand-new pizza purveyor plans to hit the Los Angeles area. But this isn’t just another pizza place. This company plans to serve pizza from trucks and the pies themselves are put together not by humans … Read more

Large Fund Sells AMD Stock. It Bought Intel, AT&T and Starbucks.

Text size Dreamstime One of America’s largest public pensions has made big changes in some of its largest investments. In the second quarter, State Teachers Retirement System of Ohio nearly halved an investment in chip maker Advanced Micro Devices (ticker: AMD), and bought more shares of semiconductor rival Intel ( INTC ), telecom firm AT&T … Read more

McDonald’s (MCD) Q2 2022 earnings

\A sign is posted in front of a McDonald’s restaurant on April 28, 2022 in San Leandro, California. Justin Sullivan | Getty Images McDonald’s is expected to report its second-quarter earnings before the bell on Tuesday. Here’s what Wall Street analysts surveyed by Refinitiv are expecting: Earnings per share: $2.47 expected Revenue: $5.81 billion expected … Read more

Apple, Visa, Microsoft, Exxon Mobil, Chipotle, and Other Stocks for Investors to Watch This Week

It will be a busy week on both the micro and macro fronts. Second-quarter earnings season ramps up, as more than 150 S&P 500 firms report, including Big Tech. The Federal Reserve’s policy committee will announce an interest-rate decision on Wednesday afternoon, and economists will get a look at a bevy of new data. Wednesday will … Read more