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Dec 17, 2014

How the NLRB may expand responsibility for labor violations

NEW YORK/LOS ANGELES, Dec 16 (Reuters) – The National Labor
Relations Board (NLRB) is expected to rule soon on if, and how,
companies can be held responsible for labor violations carried
out by their contractors or franchisees – a move that could have
far-reaching implications for businesses.

If the five-member board decides to broaden the theory known
as “joint employer,” industry groups say it will harm businesses
and could potentially set in motion a number of legal battles.

Dec 12, 2014

U.S. West Coast port backups delay apparel, bobbleheads, french fries

LOS ANGELES, Dec 11 (Reuters) – Crippling cargo backups at
U.S. West Coast ports stretched into a third month amid industry
reports on Thursday of prolonged shipment delays for goods
ranging from yoga apparel and rice to NBA bobblehead
collectibles and frozen french fries.

The congestion crisis has been most pronounced at the twin
ports of Los Angeles and Long Beach, the nation’s two busiest
cargo hubs, where marine officials reported 11 ships anchored on
Thursday waiting for berths to open.

Dec 10, 2014

McDonald’s to slim down U.S. menus, ingredient lists

By Lisa Baertlein

(Reuters) – McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz) in January will cut eight food items and reduce the number of so-called Extra Value Meals on its U.S. menus in a bid to speed up service and bolster sales, Mike Andres, the company’s U.S. president, said on Wednesday.

The world’s biggest fast-food chain, which hasn’t had a monthly gain in sales at established U.S. restaurants since October 2013, also will start shortening its food ingredient lists as consumers demand simpler, more natural food.

Dec 8, 2014

McDonald’s warns that weak sales will hit fourth-quarter profit

By Lisa Baertlein

(Reuters) – McDonald’s Corp on Monday reported a steeper-than-expected drop in global sales at established restaurants in November, hurt by weakness in the United States and Asia, and warned that such results would “significantly pressure” margins in the current quarter.

November marked the sixth straight month of worldwide same-restaurant sales declines at McDonald’s, which is battling changing consumer tastes, tough U.S. competition, the after-effects of a supplier scandal in Asia and economic and political turmoil in Europe.

Dec 8, 2014

McDonald’s warns that weak sales will hit Q4 profit

Dec 8 (Reuters) – McDonald’s Corp on Monday reported
a steeper-than-expected drop in global sales at established
restaurants in November, hurt by weakness in the United States
and Asia, and warned that such results would “significantly
pressure” margins in the current quarter.

November marked the sixth straight month of worldwide
same-restaurant sales declines at McDonald’s, which is battling
changing consumer tastes, tough U.S. competition, the
after-effects of a supplier scandal in Asia and economic and
political turmoil in Europe.

Dec 5, 2014

Starbucks debuts high-end Reserve roastery and cafe in Seattle

SEATTLE (Reuters) – Starbucks Corp Chief Executive Officer Howard Schultz, who introduced Americans to espressos, Frappuccinos and pumpkin spice lattes, is not about to let a bunch of well-funded independent coffee sellers beat his global chain at the super premium game.

Speaking at preview events ahead of Friday’s public debut of the company’s 15,000-square-foot reserve coffee roastery and tasting room in Seattle, Schultz vowed to stay one step ahead of rivals, which include “third-wave” coffee chains such as Blue Bottle, Intelligentsia and Stumptown.

Dec 4, 2014

Starbucks eyes booze, food and technology to boost U.S. growth

SEATTLE (Reuters) – Starbucks Corp, aiming to give cooling U.S. traffic a jolt, on Thursday announced it will add beer, wine, and evening snacks to thousands of domestic cafes, widen lunch offerings and roll out mobile ordering.

Such efforts are part of the world’s biggest coffee chain’s plan to broaden its appeal as a destination with consumers who are spending more time shopping online rather than in malls and Main Street stores.

Nov 17, 2014

Starbucks says wrongly accused of fighting Vermont GMO labeling law

By Lisa Baertlein

(Reuters) – Starbucks Corp said on Monday it has been wrongly accused in online petitions of supporting a Grocery Manufacturers Association lawsuit to block Vermont’s GMO labeling law.

Petitions posted to websites such as Sumofus.org and Care2.com accused Starbucks of teaming with fellow GMA member Monsanto Co to kill GMO labeling in Vermont, which in May became the first U.S. state to pass a mandatory GMO labeling law that did not require another state to go first.

Nov 17, 2014

Tyson profit beats expectations, helped by high meat prices

By Lisa Baertlein

(Reuters) – Tyson Foods Inc (TSN.N: Quote, Profile, Research, Stock Buzz), the largest U.S. meat processor, on Monday forecast 2015 profit that could top Wall Street’s view due to record beef prices, lower feed costs and its recent purchase of sausage seller Hillshire Brands.

Shares of Tyson, which also reported better-than-expected profit for the latest quarter, were up more than 5 percent at midday.

Nov 14, 2014

Jana in 3rd qtr took new stake in Valeant, upped stake in eBay

NEW YORK, Nov 14 (Reuters) – Jana Partners LLC, the $11
billion hedge fund run by Barry Rosenstein, took a new stake in
Valeant Pharmaceuticals International Inc and vastly
increased its holdings of online auction site eBay Inc
in the third quarter, according to a regulatory filing on
Friday.

Jana bought 1.284 million shares of Valeant during the third
quarter, which has been trying to buy Botox-maker Allergan Inc
this year. But the hostile bid soon brought scrutiny
from the U.S. Securities and Exchange Commission, which began
looking at the potential deal in August.

    • About Lisa

      "Lisa writes about restaurants and grocery stores. She is based in Los Angeles and previously has covered computer software, Internet companies, video games, prescription drugs and municipal bonds."
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