Starbucks recently announced that Brian Niccol will be taking over as CEO and Chair, leaving his role as chief executive at Chipotle Mexican Grill. In order to attract Niccol to the company, Starbucks offered him a significant pay increase and one-time awards. Niccol’s compensation package includes a base salary of $1.6 million annually, with the
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Brinker International saw a significant stock drop of around 12% after reporting disappointing fourth-quarter earnings. The adjusted earnings per share fell short of expectations, leading to a weaker profit forecast for the full year. This indicates potential issues within the company’s operations and financial performance. On the other hand, Victoria’s Secret experienced a surge of
Australia’s corporate regulator, ASIC, has filed a lawsuit against the country’s bourse operator, ASX Ltd, for allegedly making deceptive statements regarding the timeline to replace its trading platform, Clearing House Electronic Subregister System (CHESS). ASIC claims that ASX’s statements about the project’s progress and timeline were misleading and deceptive. ASIC alleges that ASX’s claims that
Chipotle took a hit on Tuesday with a significant drop in their stock price due to the announcement that CEO Brian Niccol will be leaving his position at the end of August to lead Starbucks. The stock plummeted by 10% during the day, ultimately closing 7% lower than the previous day’s close. Since taking over
Recently, a New York State Supreme Court judge announced an auction date of November 8 for the properties owned by Charles Cohen’s Cohen Realty Enterprises. This includes the U.S. Landmark and UK Curzon arthouse cinema chains that he acquired in 2018 and 2019. The reason behind this auction is the lawsuit filed by Fortress Credit
The Brazilian real has seen a rapid decline in its value in recent times, with the currency depreciating by almost 12% against the U.S. dollar this year. Central bank chief Roberto Campos Neto attributes this accelerated weakening to Brazil-specific factors and heightened risk perceptions in the economy. Despite this significant devaluation, Campos Neto mentioned that
Following a news report that revealed U.S. District Judge Reed O’Connor in Texas owned shares of Tesla, he recused himself from X’s lawsuit against advertisers. The recusal notice was dated Aug. 13, and it stated that the judge would no longer oversee X’s case against the World Federation of Advertisers, which had been filed the
South Korea’s retail investors have been showing a unique behavior lately that sets them apart from the trends seen in many other nations. Despite the recent global financial market turmoil, South Korean mom-and-pop investors are doubling down on their investments in U.S. stocks. This phenomenon is driven by factors such as the depressed value proposition
Former President Donald Trump’s attorney, Daniel Z. Epstein, has filed a legal notice announcing the intention to sue the Justice Department and the FBI for $115 million. The notice accuses the DOJ leadership and Special Counsel Jack Smith of engaging in a “malicious political prosecution” and “abuse of process.” These baseless accusations claim that the
General Motors recently unveiled the redesigned versions of its entry-level GMC Terrain crossover, showcasing a more rugged exterior design. This new look is sure to turn heads on the road, providing a fresh and modern aesthetic for consumers who are in the market for a compact crossover. One of the most notable updates to the
The currency markets were in a state of uncertainty on Tuesday as investors awaited the release of U.S. economic data that could influence the likelihood of significant interest rate cuts. The dollar, which had briefly touched a one-week high against the yen, was hovering at 147.17 yen. On the other hand, the euro was trading
Recent investigations by the Texas Commission on Environmental Quality (TCEQ) and the Environmental Protection Agency (EPA) have revealed that Elon Musk’s SpaceX has been repeatedly releasing pollutants into or near bodies of water in Texas. The TCEQ notice of violation focused on SpaceX’s water deluge system at its Starbase launch facility in Boca Chica, Texas.
When Republican presidential candidate Donald Trump was set to have an interview with billionaire entrepreneur Elon Musk on the social media platform X, things didn’t go as planned. The live stream faced technical difficulties right from the beginning, leaving many users unable to access it. Musk had to postpone the event due to a massive
The European Commission recently sent a warning to X Corp. owner Elon Musk and CEO Linda Yaccarino. The commission expressed concerns over the spread of illegal content, including incitements to violence and hate speech, on X’s social media platform. This warning could potentially lead to penalties and restrictions being imposed on the company in Europe.