India  

Starbucks to Exit Russia, Close 130 Licensed Locations

Video Credit: Wibbitz Top Stories - Duration: 01:30s - Published
Starbucks to Exit Russia, Close 130 Licensed Locations

Starbucks to Exit Russia, Close 130 Licensed Locations

Starbucks to Exit Russia, , Close 130 Licensed Locations.

On May 23, Starbucks announced that it will exit the Russian market after 15 years of operation.

.

NBC reports that Starbucks has now joined the ranks of western companies to withdraw from Russia, including McDonald's and Exxon Mobil.

.

NBC reports that Starbucks has now joined the ranks of western companies to withdraw from Russia, including McDonald's and Exxon Mobil.

.

NBC reports that Starbucks has now joined the ranks of western companies to withdraw from Russia, including McDonald's and Exxon Mobil.

.

Starbucks currently has 130 locations throughout Russia.

.

NBC reports that all of those locations are licensed and not operated directly by the Seattle-based company.

.

NBC reports that all of those locations are licensed and not operated directly by the Seattle-based company.

.

According to Starbucks, the company will continue to pay its nearly 2,000 Russian workers for an additional six months.

The company also said that it will help workers transition to new opportunities outside of Starbucks.

NBC reports that Starbucks' business in Russia only accounts for 1% of the company's annual revenue.

.

Meanwhile, McDonald's suspension of its operations in Russia and Ukraine cost the company $127 million in first quarter revenue.

Meanwhile, McDonald's suspension of its operations in Russia and Ukraine cost the company $127 million in first quarter revenue.

The Russian and Ukrainian markets reportedly accounted for 9% of McDonald's revenue in 2021.

.

The fast-food chain operated approximately 850 restaurants in Russia.

.

On May 19, McDonald's announced it would be selling those locations to a Siberian franchisee, who will then operate them under a new brand.

On May 19, McDonald's announced it would be selling those locations to a Siberian franchisee, who will then operate them under a new brand


You Might Like


đź’ˇ newsR Knowledge: Other News Mentions

Starbucks Starbucks American multinational coffeehouse chain

Walmart, Delta, Starbucks among companies using AI tool to snoop on employees:Report | Oneindia News [Video]

Walmart, Delta, Starbucks among companies using AI tool to snoop on employees:Report | Oneindia News

Discover how Walmart, Delta, Starbucks, and other major corporations are reportedly utilizing AI technology to monitor employee communications. Is this the future of workplace surveillance? Learn more about the growing concerns and implications of AI snooping in this eye-opening report. #AI #AIArt #ArtificialIntelligence #BusinessNews #Walmart #Delta #Starbucks #AITools #CorporateEmployees #Deepfake #Oneindia ~PR.274~ED.155~

Credit: Oneindia    Duration: 02:03Published

McDonald's McDonald's American fast food restaurant corporation

Fast Food Chains Warn Consumers That Worker Pay Increases Will Impact Prices [Video]

Fast Food Chains Warn Consumers That Worker Pay Increases Will Impact Prices

Fast Food Chains Warn Consumers , That Worker Pay Increases Will Impact Prices. 'Newsweek' reports that franchises have warned an increase of the minimum wage for fast food workers in California could also force menu prices to climb. As of April 1, fast food restaurants in California will have to pay employees at least $20 an hour, an increase of four dollars from the current $16 an hour. . Business owners have warned that the new law, signed in by Democratic governor Gavin Newsom, will have an impact on margins and consumer costs. . At the end of October, McDonald's CEO Chris Kempczinski said that the impact of the minimum wage rise would be partially "worked through with higher pricing.". At the end of October, McDonald's CEO Chris Kempczinski said that the impact of the minimum wage rise would be partially "worked through with higher pricing.". According to McDonald's numbers, the price of the signature Big Mac burger is currently $5.89 in California, the 10th highest in the United States. The latest data compiled by 'The Economist' shows that the average price of a Big Mac nationwide is currently $5.69, which is up from $5.36 at the same time in 2023. . Last year, McDonald's , reported net profits of , almost $8.5 billion. According to the company's latest financial reports, sales increased 8.7% in the U.S. in 2023, which the company attributed to "strategic menu price increases.". According to the company's latest financial reports, sales increased 8.7% in the U.S. in 2023, which the company attributed to "strategic menu price increases.". Meanwhile, Jack Hartnung, the CFO of fast food chain Chipotle, told investors that the wage increase would impact consumer prices with a "mid-to-high single digit" percentage increase. Meanwhile, Jack Hartnung, the CFO of fast food chain Chipotle, told investors that the wage increase would impact consumer prices with a "mid-to-high single digit" percentage increase. In December, Pizza Hut cited the wage increase as the reason behind laying off the company's in-house delivery drivers. . In December, Pizza Hut cited the wage increase as the reason behind laying off the company's in-house delivery drivers.

Credit: Wibbitz Top Stories    Duration: 01:31Published
Krispy Kreme to Be Sold at McDonald’s Nationwide [Video]

Krispy Kreme to Be Sold at McDonald’s Nationwide

Krispy Kreme to Be Sold , at McDonald’s Nationwide. Krispy Kreme to Be Sold , at McDonald’s Nationwide. Both food chains made the announcement on March 26, CNBC reports. . The rollout will start later this year but will take until the end of 2026 to reach McDonald's nationwide. . That's because Krispy Kreme will have to "more than double its distribution" to meet demand, CNBC reports. . We think we can service about 6,000 restaurants with our existing infrastructure, mostly doughnut shops, which have excess capacity, Krispy Kreme CEO Josh Charlesworth, to CNBC. Shares of Krispy Kreme jumped 22% following the announcement. Krispy Kreme is also expanding distribution to grocery and convenience stores. That means that the overall efficiency and productivity of our distribution network will significantly improve over time, not just because of all those local deliveries. , Krispy Kreme CEO Josh Charlesworth, to CNBC. Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. . Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. . Overall, therefore, it makes our system more profitable to grow the deliver fresh daily channel, and McDonald’s is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC. Overall, therefore, it makes our system more profitable to grow the deliver fresh daily channel, and McDonald’s is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC

Credit: Wibbitz Top Stories    Duration: 01:31Published
McDonald’s Suffers Global Tech Outage [Video]

McDonald’s Suffers Global Tech Outage

McDonald’s Suffers , Global Tech Outage. On March 15, McDonald's stores around the world either shut down or paused online ordering due to a technology outage, NBC News reports. Locations that reported the most disruptions include Australia, China, Britain and Japan, as well as other areas in Asia and Europe. Many stores across the country have temporarily suspended operations. We apologize for any inconvenience caused to our customers. There is currently a system failure, McDonald's Japan, via X. Due to a computer system failure, the mobile ordering and self-ordering kiosks are not functioning. , McDonald's China, via Facebook. Please order directly at the restaurant counter. Sorry for any inconvenience caused, McDonald's China, via Facebook. At around 4 p.m. local time, the 'South China Morning Post' reported that the problem had been fixed. The McDonald's Corporation also issued a statement. We are aware of a technology outage, which impacted our restaurants; the issue is now being resolved. , McDonald's Corporation spokesperson, via statement. We thank customers for their patience and apologize for any inconvenience this may have caused, McDonald's Corporation spokesperson, via statement. Notably, the issue is not related to a cybersecurity event, McDonald's Corporation spokesperson, via statement

Credit: Wibbitz Top Stories    Duration: 01:31Published
McDonald's Hit with Global Tech Outage, Services Unavailable in Several Countries | Oneindia News [Video]

McDonald's Hit with Global Tech Outage, Services Unavailable in Several Countries | Oneindia News

McDonald's experienced a global technology outage affecting operations in Japan, the UK, and Australia, disrupting in-person and mobile orders. The company ruled out a cybersecurity incident. Despite efforts to restore functionality, the exact extent of the disruption remains unclear. Similar incidents recently affected Meta-owned platforms. Customers in Asia faced difficulties with orders and kiosks #MCdonalds #MCDonaldsBurger #MacBurger #GlobalTechOutage #cyberattack #Internetnews #Worldnews #Oneindia #Oneindianews ~PR.274~ED.194~HT.95~

Credit: Oneindia    Duration: 02:21Published

Seattle Seattle Largest city in Washington, United States

Seattle Police Shoots Child Predator Suspect, Body Cam Video Shows

Body cam footage from a Seattle police officer captured the moment they gunned down a suspect ... who pulled a gun on the cops. The footage -- filmed Wednesday..
TMZ.com
Google Fires Employees for Protesting Israel Contract [Video]

Google Fires Employees for Protesting Israel Contract

Google Fires Employees , for Protesting Israel Contract. 28 Google workers have been fired for protesting a $1.2 billion contract that the company has with the Israeli government and military to provide cloud and AI services, NBC News reports. . The firings follow an April 16 sit-in at Google's offices in California, New York and Seattle in which nine workers were arrested. The group that coordinated the demonstration is known as No Tech for Apartheid. . Google issued a statement about the recent firings. A small number of employee protesters entered and disrupted a few of our locations. , Google spokesperson, via statement. Physically impeding other employees’ work and preventing them from accessing our facilities is a clear violation of our policies, and completely unacceptable behavior. , Google spokesperson, via statement. We have so far concluded individual investigations that resulted in the termination of employment for 28 employees, and will continue to investigate and take action as needed, Google spokesperson, via statement. No Tech for Apartheid claims that the workers were fired "indiscriminately.". This excuse to avoid confronting us and our concerns directly, and attempt to justify its illegal, retaliatory firings, is a lie, No Tech for Apartheid, via statement. Meanwhile, many of Google's workers have reportedly quit after experiencing "mental health consequences of working at a company that is using their labor to enable a genocide," No Tech for Apartheid said. On a personal level, I am opposed to Google taking any military contracts — no matter which government they’re with or what exactly the contract is about. , Cheyne Anderson, a Google Cloud software engineer based in Washington who was arrested during a sit-in, to CNBC

Credit: Wibbitz Top Stories    Duration: 01:31Published
This Day in History: Kurt Cobain Dies By Suicide [Video]

This Day in History: Kurt Cobain Dies By Suicide

This Day in History: , Kurt Cobain Dies By Suicide. April 5, 1994. The Nirvana frontman died by suicide in his Seattle home after struggling with drug addiction and depression for years. The rock icon had checked himself out of a Los Angeles rehab just a week earlier. His body wasn't discovered until three days later when an electrician visited the home to install a security system. Police found a suicide note written by Cobain, in which he quoted the Neil Young lyric that it's “better to burn out than to fade away.”. Despite being ruled a suicide by authorities, Cobain's death has been widely blamed on his partner, singer Courtney Love. After the song "Smells Like Teen Spirit" rocketed Nirvana to worldwide fame, Cobain had been referred to as "the spokesman of a generation.". He was 27 years old

Credit: Wibbitz Top Stories    Duration: 01:04Published
These US Cities Have the Highest Populations of Millionaires [Video]

These US Cities Have the Highest Populations of Millionaires

These US Cities, Have the Highest Populations of, Millionaires. According to a report by Henley & Partners, the United States remains the top country in the world for private wealth creation and accumulation. Quartz reports that the U.S. accounts for about 32% of global liquid investable wealth, valued at approximately $67 trillion. Here are some of the cities with the largest populations of millionaires, according to the report. Austin, This Texas city had the biggest explosion in millionaire growth in the U.S. over the past ten years, reaching 32,700 by the end of 2023. . Miami, This Florida city is home to 35,300 millionaires and 15 billionaires, including Amazon CEO Jeff Bezos. Boston, While having just eight billionaires, the fewest of any other city on the list, this New England city is home to , 42,900 millionaires. Seattle, This Washington State city is the home of some of the largest corporations in the U.S., including Amazon and Microsoft. It's also home to 54,200 millionaires and 11 billionaires. . Chicago, Approximately 120,500 millionaires live in this Midwestern metropolis. . Los Angeles, The second-most populous city in the U.S. has about, 212,100 millionaires and 43 billionaires. San Francisco, The tech hub of the U.S. boasts the most billionaires with a whopping 68, as well as the second-most millionaires with 305,700. . New York, The city with the most high net worth individuals has about , 349,500 millionaires and 60 billionaires

Credit: Wibbitz Top Stories    Duration: 01:31Published

Related videos from verified sources

McDonald's to Permanently Close All of Its Locations in Russia [Video]

McDonald's to Permanently Close All of Its Locations in Russia

McDonald's , to Permanently Close , All of Its Locations in Russia. BBC reports that McDonald's will permanently close its 850 locations in Russia after 30 years. . In March, the fast food..

Credit: Wibbitz Top Stories     Duration: 01:31Published